Overview
What is Lake Effect Conservancy?
Lake Effect Conservancy is a nonprofit organization that advocates and raises funds for the Pantoway on Wayzata Bay Initiative, a public-private partnership with the City of Wayzata. Their mission is to preserve and enhance Wayzata's most valuable asset, Lake Minnetonka, for future generations and to improve the lakeside ecosystem with significant benefits for the community. Throughout the year, they received donations from individuals, foundations, and businesses, and hired a new executive director to collaborate with the city. In February, the City of Wayzata surveyed residents about the direction of the city, and Pantoway became the most popular park in just 18 months. This strong support is essential for the Conservancy's philanthropic efforts to raise funds for this project. In collaboration with the city, the Conservancy completed plans for Pantoway's Phase 2, which includes a lakeside boardwalk, shoreline restoration, and modern public docks. The final plans were approved by the city council, and enough funds have been secured to allow work on Phase 2 to begin in Spring 2023. The Conservancy also works on restoring and stabilizing Foreman's House, a part of Phase 3 elements. Ongoing fundraising efforts continue to build support for this project.
Official website here: www.lakeeffectconservancy.org
What are the reviews and ratings of this charity?
Charity Navigator Rating: 84% (Three-Star out of Four Stars)
Lake Effect Conservancy has earned a commendable Three-Star rating from Charity Navigator, reflecting a strong commitment to accountability and finance, where it achieved a score of 93%. The organization boasts a fully independent board with no material diversions of assets, and it effectively maintains transparency by listing essential documents on its website. However, there are areas for improvement, such as missing policies for whistleblower protection and document retention, which could enhance its governance framework.
In terms of organizational strengths, Lake Effect Conservancy excels in program efficiency, with an impressive program expense ratio of 96.79%. This indicates that the majority of its resources are directed toward fulfilling its mission rather than administrative costs. Moreover, the organization scores perfectly in the Culture & Community category, showcasing its robust practices for collecting and utilizing feedback from stakeholders, which is vital for continuous improvement and community engagement.
Despite the positives, the absence of certain policies hints at potential oversight in governance. Addressing these gaps could not only strengthen the organization's framework but also bolster donor confidence and public trust. Overall, Lake Effect Conservancy demonstrates a solid operational foundation while having opportunities to enhance its compliance and transparency measures.
This AI summary has been generated from information found on Charity Navigator.
Is Lake Effect Conservancy legitimate?
Lake Effect Conservancy is a legitimate nonprofit organization registered as a 501(c)(3) entity. Lake Effect Conservancy 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.
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Official website here: www.lakeeffectconservancy.org
What is the mission statement of Lake Effect Conservancy?
The Lake Effect Conservancy is a non-profit organization that serves as an advocate and fundraising agency for the Panoway on Wayzata Bay Initiative, a public-private partnership with the city of Wayzata. Its mission is to preserve and enhance the city's greatest asset, Lake Minnetonka, for future generations and to help improve the lakeside ecosystem with significant benefits to the community. The organization aims to protect and maintain the lake's ecological balance, ensuring its longevity and the well-being of the surrounding environment and community.
Official website here: www.lakeeffectconservancy.org
Who is the CEO of Lake Effect Conservancy?
Dan Koch is the Director of Lake Effect Conservancy.
Official website here: www.lakeeffectconservancy.org
What is the revenue of Lake Effect Conservancy?
Lake Effect Conservancy's revenue in 2022 was $235,621.
Official website here: www.lakeeffectconservancy.org
Who are the executives of Lake Effect Conservancy and what are their salaries?
Here are 14 key members and their salaries:
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Official website here: www.lakeeffectconservancy.org
Where can I find the form 990 for Lake Effect Conservancy?
Lake Effect Conservancy's most recent form 990 was submitted in 2022 and can be accessed here.
Official website here: www.lakeeffectconservancy.org
Learn more at the official website: www.lakeeffectconservancy.org
Mission Statement of Lake Effect Conservancy
The Lake Effect Conservancy is a non-profit organization that serves as an advocate and fundraising agency for the Panoway on Wayzata Bay Initiative, a public-private partnership with the City of Wayzata. This initiative aims to preserve and enhance the city's most valuable asset, Lake Minnetonka, for future generations, and to improve the lakeside ecosystem, offering significant benefits to the community. The Lake Effect Conservancy's mission is to safeguard the long-term health and beauty of Lake Minnetonka by advocating for conservation efforts and raising funds to support various initiatives that contribute to the improvement of the lake's ecosystem and the overall well-being of the community that depends on it. By working in collaboration with local authorities and other stakeholders, the Lake Effect Conservancy strives to ensure that Lake Minnetonka remains a vibrant and thriving resource for generations to come.
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Impact
June, 2024
Lake Effect Conservancy's impact is significant in preserving and enhancing Lake Minnetonka for future generations. Through its advocacy and fundraising efforts for the Panoway on Wayzata Bay initiative, the conservancy has successfully secured funds for various projects, such as the lakeside boardwalk, shoreline restoration, and modern transient public docks. This work not only beautifies the area but also revitalizes the ecology of the lake, improving water quality and ensuring its health for generations to come. Additionally, the conservancy's efforts to stabilize and protect the historic Section Foreman's House are contributing to the preservation of local heritage. The strong community support garnered by the conservancy is crucial to the success of these projects and reflects the positive impact they are having on the Wayzata community and its environment.
This information is meant to be a general summary of Lake Effect Conservancy. 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.
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This information is from the most recently submitted tax form from this organization, which was in 2022.
- Gross Receipts: $253,784
Assets and Liabilities:
- Total Assets: $128,158
- Total Liabilities: $0
- Net Assets: $128,158
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Organization Details
Founding Year
2016
Phone
(612) 384-8992Principal Officer
Dan Koch
Main Address
294 GROVE LANE EAST 100, WAYZATA, MN, 55391
NTEE Category
Code: C32 - Environment
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