Overview
What is Lakeside Legacy Foundation?
The Lakeside Legacy Foundation, situated in Crystal Lake, Illinois, is a dedicated nonprofit organization with a mission to preserve and protect the iconic Dole Mansion and Lakeside Arts Park for community enjoyment. The foundation has successfully accomplished this goal by providing artists with studios and rental spaces, fostering a creative environment where artists of various genres, such as painters, photographers, musicians, and recording artists, can educate themselves and create inspiring works. As of the provided data, the foundation has 48 studios, with 35 currently occupied. The Lakeside Legacy Foundation's primary objective is to maintain this historic property in a natural setting, allowing the community to engage with it.
Official website here: www.lakesidelegacy.org
What are the reviews and ratings of this charity?
Charity Navigator Rating: 83%, Three-Star out of Four Star rating.
Lakeside Legacy Foundation has received a solid rating of 83%, indicating a commendable level of accountability and financial health. With a fully independent board comprising eight members and strong scores in areas such as audit and oversight, the organization demonstrates a commitment to governance and transparency. The absence of material diversion of assets further reinforces its reliability.
The foundation excels in its operational protocols, with established policies for conflict of interest and whistleblower protection, showcasing a robust infrastructure for ethical practices. However, its program expense ratio is somewhat low at 59.61%, which suggests that there may be room for improvement in directing funds towards its programs as opposed to administrative costs. Overall, the Lakeside Legacy Foundation appears to be a trustworthy organization with a strong commitment to accountability.
This AI summary has been generated from information found on Charity Navigator.
Is Lakeside Legacy Foundation legitimate?
Lakeside Legacy Foundation is a legitimate nonprofit organization registered as a 501(c)(3) entity. Lakeside Legacy Foundation submitted a form 990, which is a tax form used by tax-exempt organizations in the U.S., indicating its operational transparency and adherence to regulatory requirements. Donations to this organization are tax deductible.
Heare are some key statistics you may want to consider:
Executive Compensation: $0
Professional Fundraising Fees: $0
Other Salaries and Wages: $397,757
For more financial information, click here
Official website here: www.lakesidelegacy.org
What is the mission statement of Lakeside Legacy Foundation?
The Lakeside Legacy Foundation's mission is centered around preserving and protecting a notable property, specifically the Dole Mansion and the surrounding Lakeside area, maintaining their natural and historic integrity. The foundation aims to make these resources accessible for community use, fostering an environment where artists can educate and create inspiring works. By providing artists with studios and event rental spaces, the foundation has successfully achieved this mission, with 35 studios currently occupied by artists from various genres such as painting, photography, music, and recording.
Official website here: www.lakesidelegacy.org
Who is the CEO of Lakeside Legacy Foundation?
Murray Crabtree is the Treasurer of Lakeside Legacy Foundation.
Official website here: www.lakesidelegacy.org
What is the revenue of Lakeside Legacy Foundation?
Lakeside Legacy Foundation's revenue in 2022 was $1,030,789.
Official website here: www.lakesidelegacy.org
Who are the executives of Lakeside Legacy Foundation and what are their salaries?
The average compensation at Lakeside Legacy Foundation during 2022 was $22,098. There are 18 employees and 830 volunteers at Lakeside Legacy Foundation.
Here are 8 key members and their salaries:
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Official website here: www.lakesidelegacy.org
Where can I find the form 990 for Lakeside Legacy Foundation?
Lakeside Legacy Foundation's most recent form 990 was submitted in 2022 and can be accessed here.
Official website here: www.lakesidelegacy.org
Learn more at the official website: www.lakesidelegacy.org
Mission Statement of Lakeside Legacy Foundation
Lakeside Legacy Foundation, a nonprofit organization, is dedicated to preserving and protecting the Dole Mansion and Lakeside Property for community use in a natural and historic setting. Their mission is to provide a space where artists can educate and create inspiring works. They have achieved this by offering artists studios and event rental spaces. As of their records, they had 48 studios, with 35 of them occupied by artists from various genres, such as painters, photographers, musicians, and recording artists. The foundation's efforts aim to allow the community to experience this historic site and engage with the artistic creations it fosters.
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Impact
October, 2024
Lakeside Legacy Foundation plays a vital role in preserving the Dole Mansion and the surrounding Lakeside property, ensuring that these historic sites remain accessible for community use. Through its commitment to maintaining a natural and historic setting, the Foundation not only protects important cultural landmarks but also fosters a vibrant arts environment.
By offering 48 studios for artists, with 35 currently occupied by various creative professionals—including painters, photographers, musicians, and recording artists—the Foundation promotes artistic expression and education within the community. This space enables artists to create and showcase their work, inspiring local engagement with the arts. Through these efforts, Lakeside Legacy Foundation enhances the cultural landscape of Crystal Lake, providing a place where creativity thrives and the community can gather to appreciate and participate in artistic endeavors.
This information is meant to be a general summary of Lakeside Legacy Foundation. Please take the time to review official sources before making any decisions based upon the content provided here.
Financials
This financial information is from Propublica.
Other financial information:
This information is from the most recently submitted tax form from this organization, which was in 2022.
- Investment Income: $4,231
- Program Service Revenue: $342,738
- Gross Receipts: $1,747,005
Assets and Liabilities:
- Total Assets: $3,210,251
- Total Liabilities: $730,506
- Net Assets: $2,479,745
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
EXEMPT PURPOSE RENT
Revenue
$221,084
FARMER'S MARKET
Revenue
$86,395
RENTAL
Revenue
$24,645
LOU'S LOUNGE
Revenue
$7,424
1 ST FRIDAYS
Revenue
$3,190
Organization Details
Founding Year
2002
Phone
(815) 455-8000Principal Officer
Murray Crabtree
Main Address
401 COUNTRY CLUB RD, CRYSTAL LAKE, IL, 600145605
Website
www.lakesidelegacy.orgNTEE Category
Code: B90 - Education
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