Overview
What is Laketown Gym?
Laketown Gym, located at 654 Industrial Blvd, Waconia, MN 55387, is a nonprofit organization that specializes in gymnastics. They offer various activities, such as recreational instruction, open gym sessions, product sales, and competitive team training. Their mission is to support and guide each gymnast in setting personal goals and developing individualized plans to achieve them. With a workforce of 66 dedicated individuals, Laketown Gymnasitcs aims to provide a supportive environment for gymnasts to grow and excel in their craft.
What are the reviews and ratings of this charity?
Charity Navigator Rating: 67%, Two-Star out of Four Stars
Laketown Gym has received a score of 67% from Charity Navigator, reflecting a Two-Star rating. This rating is based solely on the Accountability & Finance beacon, indicating that the organization meets some financial and governance standards but may have areas needing improvement. The high score in program expense ratio, which is 85.71%, suggests that a significant portion of its expenses is directed towards its programs rather than administrative costs.
Strengths of Laketown Gym include having a fully independent board, with 100% of its members being independent, and a robust system for auditing and oversight. The organization has also shown good practices in documenting board meeting minutes and has no reported material diversion of assets, which contributes positively to its accountability measures.
However, the organization faces challenges in its liabilities to assets ratio, scoring 0 out of 15 points in this area. This indicates potential financial vulnerability that could impact its long-term sustainability. Overall, while Laketown Gym demonstrates strong governance practices, addressing its financial health will be crucial for future growth and effectiveness.
This AI summary has been generated from information found on Charity Navigator.
Is Laketown Gym legitimate?
Laketown Gym is a legitimate nonprofit organization registered as a 501(c)(3) entity. Laketown Gym 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: $61,502
Professional Fundraising Fees: $0
Other Salaries and Wages: $327,092
For more financial information, click here
What is the mission statement of Laketown Gym?
Laketown Gym's mission is centered around individualized support for its gymnasts. They assist each gymnast in setting personal goals, creating tailored plans, and providing the necessary guidance to accomplish these objectives. The gym's approach is focused on empowering its gymnasts to reach their full potential. In addition to recreational gymnastic instruction and competitive team training, Laketown Gym also offers open gym sessions and sells related products.
Who is the CEO of Laketown Gym?
Samantha Leighton is the Executive Director of Laketown Gym.
What is the revenue of Laketown Gym?
Laketown Gym's revenue in 2022 was $887,803.
Who are the executives of Laketown Gym and what are their salaries?
The average compensation at Laketown Gym during 2022 was $5,888. There are 66 employees at Laketown Gym.
Here are 8 key members and their salaries:
- Compensation: $60,312
- Related: $0
- Other: $1,190
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
Where can I find the form 990 for Laketown Gym?
Laketown Gym's most recent form 990 was submitted in 2022 and can be accessed here.
Mission Statement of Laketown Gym
Laketown Gymnasatics is committed to working with each gymnast individually, helping them set achievable goals and creating personalized plans to reach those objectives. The organization provides the necessary support and guidance to ensure that each gymnast can progress and grow in their skills and abilities. By setting goals and developing tailored plans, Laketown Gymnasatics aims to empower and motivate its gymnasts, enabling them to achieve their full potential.
In practice, this mission translates into various activities offered by Laketown Gymnasatics. Recreational gymnastic instruction is available for those who want to learn the basics, while competitive team gymnastic instruction is for those who aspire to excel at a higher level. Additionally, the gym offers open gym hours and sells related products, providing a comprehensive gymnastics experience for its members. Overall, Laketown Gymnasatics is dedicated to supporting each gymnast on their journey to improve their skills and achieve their personal goals.
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Impact
July, 2024
Laketown Gym, located in Waconia, MN, has a significant impact on the community through its provision of recreational gymnastic instruction, open gym opportunities, product sales, competitive team gymnastic instruction, and related activities. By working with each gymnast to set goals, develop individual plans, and provide the necessary support and direction to achieve those goals, Laketown Gym plays a crucial role in promoting physical fitness, skill development, and personal growth among its participants. The gym's focus on recreation allows individuals to engage in a healthy and enjoyable form of exercise while fostering a sense of community and camaraderie.
This information is meant to be a general summary of Laketown Gym. 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: $2,076
- Program Service Revenue: $866,509
- Gross Receipts: $889,129
Assets and Liabilities:
- Total Assets: $1,534,649
- Total Liabilities: $1,326,350
- Net Assets: $208,299
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
TUITION AND CLASS FEES
Revenue
$735,927
MEET FEES
Revenue
$44,514
CAMP FEES & FIELD TRIPS
Revenue
$19,373
OPEN GYM & BDAY PARTIES
Revenue
$63,901
UNIFORMS
Revenue
$2,794
Organization Details
Founding Year
2011
Principal Officer
Samantha Leighton
Main Address
654 INDUSTRIAL BLVD, Waconia, MN, 55387
NTEE Category
Code: N60 - Recreation
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