Overview
What is Lake Area Industries Inc?
Lake Area Industries Inc, located in Camdenton, Missouri, is a nonprofit organization dedicated to offering employment opportunities to individuals facing physical or mental challenges. Established with the mission to create an extended employment sheltered workshop program, the organization provides a community-based setting for productive employment. By collaborating with local businesses, Lake Area Industries offers various work areas and services, enabling these individuals to earn income while contributing to their community. The organization employs a workforce of 77 individuals, demonstrating its commitment to making a difference in the lives of those with unique abilities.
Official website here: www.lakeareaindustries.org
What are the reviews and ratings of this charity?
Charity Navigator Rating: 87% (Three-Star out of Four Star rating)
Lake Area Industries Inc has received a commendable Three-Star rating from Charity Navigator, reflecting a solid performance in accountability and finance. The overall score of 87% is derived entirely from their Accountability & Finance score, indicating a strong commitment to transparency and responsible financial practices. The organization has a fully independent board, demonstrating a robust governance structure that contributes to its credibility.
Key strengths of Lake Area Industries include its comprehensive oversight mechanisms, such as an Audit and Oversight Committee and well-documented policies regarding conflicts of interest and document retention. Additionally, the organization has reported no material diversion of assets, which further enhances its trustworthiness. The financial ratios indicate a healthy balance between liabilities and assets, as well as a significant portion of expenses dedicated to programs.
However, it's important to note that the organization is missing a whistleblower policy, which could be a point of concern for stakeholders looking for complete accountability measures. Despite this limitation, the overall assessment suggests that Lake Area Industries is effectively managing its resources and governance practices, making it a reliable nonprofit organization.
This AI summary has been generated from information found on Charity Navigator.
Is Lake Area Industries Inc legitimate?
Lake Area Industries Inc is a legitimate nonprofit organization registered as a 501(c)(3) entity. Lake Area Industries Inc 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: $70,573
Professional Fundraising Fees: $0
Other Salaries and Wages: $443,227
For more financial information, click here
Official website here: www.lakeareaindustries.org
What is the mission statement of Lake Area Industries Inc?
Lake Area Industries Inc's mission is centered around establishing an extended employment sheltered workshop program. This program is designed to offer productive employment opportunities to individuals who face mental and physical challenges. By doing so, Lake Area Industries aims to provide a chance for these individuals to integrate into a community setting and earn their own income. The organization offers various work areas and provides a range of services to local businesses, thereby contributing to their operations.
Official website here: www.lakeareaindustries.org
Who is the CEO of Lake Area Industries Inc?
Natalie Couch is the Executive Dir. of Lake Area Industries Inc.
Official website here: www.lakeareaindustries.org
What is the revenue of Lake Area Industries Inc?
Lake Area Industries Inc's revenue in 2022 was $934,914.
Official website here: www.lakeareaindustries.org
Who are the executives of Lake Area Industries Inc and what are their salaries?
The average compensation at Lake Area Industries Inc during 2022 was $6,673. There are 77 employees at Lake Area Industries Inc.
Here are 13 key members and their salaries:
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Official website here: www.lakeareaindustries.org
Where can I find the form 990 for Lake Area Industries Inc?
Lake Area Industries Inc's most recent form 990 was submitted in 2022 and can be accessed here.
Official website here: www.lakeareaindustries.org
Learn more at the official website: www.lakeareaindustries.org
Mission Statement of Lake Area Industries Inc
Lake Area Industries Inc, a nonprofit organization, is committed to establishing an extended employment sheltered workshop program. The primary aim of this program is to provide productive employment opportunities for individuals who face mental and physical hardships. By offering a community-based setting, Lake Area Industries empowers these individuals to gain financial independence through their work. The organization boasts various work areas and offers a wide range of services to local businesses, thereby providing a meaningful and inclusive working environment.
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Impact
July, 2024
Lake Area Industries Inc's impact is significant in providing productive employment opportunities to individuals facing mental and physical hardships. By establishing an extended employment sheltered workshop program, Lake Area Industries Inc allows these individuals to work in a community setting and earn their own income. This organization operates different work areas and offers various services to local businesses, thereby contributing to the economic empowerment and social inclusion of individuals in Camdenton, MO.
This information is meant to be a general summary of Lake Area Industries Inc. 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: $4,441
- Program Service Revenue: $414,880
- Gross Receipts: $934,914
Assets and Liabilities:
- Total Assets: $1,414,758
- Total Liabilities: $76,197
- Net Assets: $1,338,561
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
SALES
Revenue
$414,880
Organization Details
Founding Year
1982
Phone
(573) 346-7934Principal Officer
Natalie Couch
Main Address
1720 N BUSINESS 5, CAMDENTON, MO, 65020
Website
www.lakeareaindustries.orgNTEE Category
Code: J30 - Employment
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