Walloon Lake Trust & Conservancy in Petoskey, Michigan (MI)

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Walloon Lake Trust & Conservancy
Employer Identification Number (EIN)382224075
Name of OrganizationWalloon Lake Trust & Conservancy
AddressPetoskey, MI 49770
Tax Period2001
Asset Amount$5,104,049
Amount of Income$98,499
Form 990 Revenue Amount$98,499
National Taxonomy of Exempt Entities (NTEE)Environmental Quality, Protection and Beautification: Water Resource, Wetlands Conservation and Management


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Amount of income in 2001: $98,499
Walloon Lake Trust & Conservancy: 

 $98,499
Other organizations performing similar types of work: 

 $171,601

Assets in 2001: $5,104,049
Walloon Lake Trust & Conservancy: 

 $5,104,049
Other organizations performing similar types of work: 

 $266,624

Expenses in 2001: $185,799
This organization: 

 $185,799
Other organizations performing similar types of work: 

 $167,602

Income to expenses ratio in 2001: 0.5
This organization: 

 0.5
Other organizations performing similar types of work: 

 1.1

Expenses allocated to program services in 2001: 52.7%
This organization: 

 52.7%
Other organizations performing similar types of work: 

 78.2%

Number of employees in 2001: 3
Walloon Lake Trust & Conservancy: 

 3
Other organizations performing similar types of work: 

 5

Employees paid over $50,000 in 2001: 0.0%
This organization: 

 0.0%
Other organizations performing similar types of work: 

 23.5%

Grants share in income in 2001: 68.1%
Walloon Lake Trust & Conservancy: 

 68.1%
Other organizations performing similar types of work: 

 79.4%

Financial snapshot ($)

Revenue for 2001

Assets at end of 2001

Expenses for 2001

Functional Expenses for 2001 ($)

Income-Producing Activities for 2001

Revenue, Expenses, and Changes in Net Assets or Fund Balances
20002001
Total revenue$464,493$98,499
Contributions, gifts, grants, and similar amounts received$227,895$67,102
Contributions to donor advised funds
Direct public support$227,895$67,102
Indirect public support$0$0
Government contributions (grants)$0$0
Program service revenue including government fees and contracts$0$0
Membership dues and assessments$0$0
Interest on savings and temporary cash investments$1,063$164
Dividends and interest from securities$108,636$103,533
Net rental income or (loss)$0$0
Gross rents$0$0
Less: rental expenses$0$0
Other investment income$0$0
Gain or (loss) from sales of assets other than inventory$114,340$-88,281
Gross amount from sales of assets other than inventory$841,810$469,350
Less: cost or other basis and sales expenses$727,470$557,631
Net income or (loss) from special events and activities$8,044$15,981
Gross revenue$23,300$41,556
Less: direct expenses other than fundraising expenses$15,256$25,575
Gross profit or (loss) from sales of inventory$0$0
Gross sales of inventory, less returns and allowances$0$0
Less: cost of goods sold$0$0
Other revenue$4,515$0
Total expenses$196,655$185,799
Program services$103,881$97,993
Management and general$92,774$87,806
Fundraising$0$0
Payments to affiliates$0$0
Net assets or fund balances at end of year$5,219,898$5,104,049
Excess or (deficit) for the year$267,838$-87,300
Net assets or fund balances at beginning of year$5,068,838$5,219,898
Other changes in net assets or fund balances$-116,778$-28,549
Statement of Functional Expenses (for 2001)
TotalProgram servicesManagement and generalFundraising
Total functional expenses$185,799$97,993$87,806$0
Grants paid from donor advised funds
Other grants and allocations$0
Specific assistance to individuals$0
Benefits paid to or for members$0
Compensation of current officers, directors, key employees, etc.$0$0$0$0
Compensation of former officers, directors, key employees, etc.
Compensation and other distributions, not included above, to disqualified persons (as defined under section 4958(f)(1)) and persons described in section 4958(c)(3)(B)
Salaries and wages of employees not included above$64,772$43,397$21,375$0
Pension plan contributions not included above$4,036$2,704$1,332$0
Employee benefits not included above$0$0$0$0
Payroll taxes$3,413$2,287$1,126$0
Professional fundraising fees$0$0$0$0
Accounting fees$8,156$0$8,156$0
Legal fees$42,506$0$42,506$0
Supplies$3,056$0$3,056$0
Telephone$2,854$1,912$942$0
Postage and shipping$0$0$0$0
Occupancy$8,216$5,505$2,711$0
Equipment rental and maintenance$0$0$0$0
Printing and publications$0$0$0$0
Travel$0$0$0$0
Conferences, conventions, and meetings$0$0$0$0
Interest$40$27$13$0
Depreciation, depletion, etc.$394$264$130$0
Other expenses not covered above$48,356$41,897$6,459$0
Balance Sheets
20002001
Total assets$5,247,691$5,126,561
Cash - non-interest-bearing$0$0
Savings and temporary cash investments$2,899,693$2,816,135
Accounts receivable less allowance for doubtful accounts$0$0
Pledges receivable less allowance for doubtful accounts$157,709$120,531
Grants receivable$0$0
Receivables from current and former officers, directors, trustees, and key employees$0$0
Receivables from other disqualified persons (as defined under section 4958(f)(1)) and persons described in section 4958(c)(3)(B)
Other notes and loans receivable less allowance for doubtful accounts$0$0
Inventories for sale or use$0$0
Prepaid expenses and deferred charges$0$0
Investments - publicly-traded securities
Investments - other securities$0$0
Investments - land, buildings, and equipment less accumulated depreciation$2,189,731$2,189,731
Investments - other$0$0
Land, buildings, and equipment less accumulated depreciation$558$164
Other assets, including program-related investments$0$0
Total liabilities$27,793$22,512
Accounts payable and accrued expenses$27,793$22,512
Grants payable$0$0
Deferred revenue$0$0
Loans from officers, directors, trustees, and key employees$0$0
Tax-exempt bond liabilities$0$0
Mortgages and other notes payable$0$0
Other liabilities$0$0
Total liabilities and net assets/fund balances$5,247,691$5,126,561
Total net assets or fund balances$5,219,898$5,104,049
Reconciliation of Revenue per Audited Financial Statements With Revenue per Return
20002001
Total revenue$464,493$98,499
Total revenue, gains, and other support per audited financial statements$494,897$219,815
Other expenses$0$0
Net unrealized gains on investments$0$0
Donated services and use of facilities$0$0
Recoveries of prior year grants$0$0
Other$0$0
Other revenue$-30,404$-121,316
Investment expenses$0$0
Other$-30,404$-121,316
Reconciliation of Expenses per Audited Financial Statements With Expenses per Return
20002001
Total expenses$196,653$185,799
Total expenses and losses per audited financial statements$343,837$335,664
Other revenue$147,184$149,865
Donated services and use of facilities$0$0
Prior year adjustments$0$0
Losses$0$0
Other$147,184$149,865
Other expenses$0$0
Investment expenses$0$0
Other$0$0
Current Officers, Directors, Trustees, and Key Employees
Total number of officers, directors, and trustees permitted to vote on organization business at board meetings0
Are any officers, directors, trustees, or key employees listed in Form 990, Part V-A, or highest compensated employees listed in Schedule A, Part I, or highest compensated professional and other independent contractors listed in Schedule A, Part II-A or II-B, related to each other through family or business relationships?
Do any officers, directors, trustees, or key employees listed in Form 990, Part V-A, or highest compensated employees listed in Schedule A, Part I, or highest compensated professional and other independent contractors listed in Schedule A, Part II-A or II-B, receive compensation from any other organizations, whether tax exempt or taxable, that are related to the organization?
Does the organization have a written conflict of interest policy?
Other Information
Did the organization have unrelated business gross income of $1,000 or more during the year covered by this return, and has it filed a tax return on Form 990-T for this year?No
Was there a liquidation, dissolution, termination, or substantial contraction during the year?No
Is the organization related (other than by association with a statewide or nationwide organization) through common membership, governing bodies, trustees, officers, etc., to any other exempt or nonexempt organization?Yes
Direct and indirect political expenditures$0
Did the organization file Form 1120-POL for this year?No
Were substantially all dues nondeductible by members?
Did the organization make only in-house lobbying expenditures of $2,000 or less?
Dues, assessments, and similar amounts from members$0
Section 162(e) lobbying and political expenditures$0
Aggregate nondeductible amount of section 6033(e)(1)(A) dues notices$0
Taxable amount of lobbying and political expenditures$0
Does the organization elect to pay the section 6033(e) tax on the amount above?
If section 6033(e)(1)(A) dues notices were sent, does the organization agree to add the amount above to its reasonable estimate of dues allocable to nondeductible lobbying and political expenditures for the following tax year?
Initiation fees and capital contributions$0
Gross receipts for public use of club facilities$0
At any time during the year, did the organization, directly or indirectly, own a controlled entity within the meaning of section 512(b)(13)?
Amount of tax imposed on the organization during the year under: section 4911$0
Amount of tax imposed on the organization during the year under: section 4912$0
Amount of tax imposed on the organization during the year under: section 4955$0
Did the organization engage in any section 4958 excess benefit transaction during the year or did it become aware of an excess benefit transaction from a prior year?No
Amount of tax imposed on the organization managers or disqualified persons during the year under sections 4912, 4955, and 4958$0
Amount of tax above, reimbursed by the organization$0
At any time during the tax year, was the organization a party to a prohibited tax shelter transaction?
Did the organization acquire a direct or indirect interest in any applicable insurance contract?
Did the supporting organization, or a fund maintained by a sponsoring organization, have excess business holdings at any time during the year?
Number of employees employed in the pay period that includes March 12, 20063
Analysis of Income-Producing Activities (for 2001)
Unrelated business incomeExcluded by section 512, 513, or 514Related or exempt function income
Business codeAmountExclusion codeAmount
Total$0$31,397$0
Program service revenue
Program service revenue 1000000$000$0$0
Program service revenue 2000000$000$0$0
Program service revenue 3000000$000$0$0
Program service revenue 4000000$000$0$0
Program service revenue 5000000$000$0$0
Medicare/Medicaid payments000000$000$0$0
Fees and contracts from government agencies000000$000$0$0
Membership dues and assessments000000$000$0$0
Interest on savings and temporary cash investments000000$0Dividends, interest, payments with respect to securities loans, annuities, income from notional principal contracts, loan commitment fees, and other substantially similar income from ordinary and routine investments excluded by section 512(b)(1)$164$0
Dividends and interest from securities000000$0Dividends, interest, payments with respect to securities loans, annuities, income from notional principal contracts, loan commitment fees, and other substantially similar income from ordinary and routine investments excluded by section 512(b)(1)$103,533$0
Net rental income or (loss) from real estate
debt-financed property000000$000$0$0
not debt-financed property000000$000$0$0
Net rental income or (loss) from personal property000000$000$0$0
Other investment income000000$000$0$0
Gain or (loss) from sales of assets other than inventory000000$0Gain (or loss, to the extent allowed) from the sale of investments and other non-inventory property and from certain property acquired from financial institutions that are in conservatorship or receivership (sections 512(b)(5) and 512(b)(16)(A))$-88,281$0
Net income or (loss) from special events000000$0Income from an activity that is not regularly carried on (section 512(a)(1))$15,981$0
Gross profit or (loss) from sales of inventory000000$000$0$0
Other revenue000000$000$0$0
Information Regarding Taxable Subsidiaries and Disregarded Entities (for 2001)
EIN of corporation, partnership, or disregarded entityPercentage of ownership interestTotal incomeEnd-of-year assets
0%$0$0
0%$0$0
0%$0$0
0%$0$0
Compensation of the Five Highest Paid Employees Other Than Officers, Directors, and Trustees (for 2001)
CompensationContributions to employee benefit plans & deferred compensationExpense account and other allowances
$0$0$0
$0$0$0
$0$0$0
$0$0$0
$0$0$0
Total number of other employees paid over $50,0000
Statements About Activities (for 2001)
Expenses paid or incurred in connection with the lobbying activities$0
Did the organization receive or hold an easement for conservation purposes, including easements to preserve open space, the environment, historic land areas or historic structures?
Did the organization provide credit counseling, debt management, credit repair, or debt negotiation services?
Did the organization maintain any donor advised funds?
Did the organization make any taxable distributions under section 4966?
Did the organization make a distribution to a donor, donor advisor, or related person?
The total number of donor advised funds owned at the end of the tax year
The aggregate value of assets held in all donor advised funds owned at the end of the tax year
The total number of separate funds or accounts owned at the end of the tax year (excluding donor advised funds included above) where donors have the right to provide advice on the distribution or investment of amounts in such funds or accounts
The aggregate value of assets held in all funds or accounts included above at the end of the tax year
Reason for Non-Private Foundation Status
The organization is not a private foundation because it isOrganization that receives a substantial part of its support from a governmental unit or from the general public
Support Schedule
19992000
Total$1,078,777$464,493
Gifts, grants, and contributions received$785,630$227,895
Membership fees received$0$0
Gross receipts from admissions, merchandise sold or services performed, or furnishing of facilities in any activity that is related to the organization's charitable, etc., purpose$30,895$12,559
Gross income from interest, dividends, amounts received from payments on securities loans (section 512(a)(5)), rents, royalties, and unrelated business taxable income (less section 511 taxes) from businesses acquired by the organization after June 30, 1975$262,252$224,039
Net income from unrelated business activities not included above$0$0
Tax revenues levied for the organization's benefit and either paid to it or expended on its behalf$0$0
The value of services or facilities furnished to the organization by a governmental unit without charge. Do not include the value of services or facilities generally furnished to the public without charge$0$0
Other income$0$0
Lobbying Expenditures by Electing Public Charities (for 2001)
Total exempt purpose expenditures$0
Total lobbying expenditures$0
Total lobbying expenditures to influence public opinion (grassroots lobbying)$0
Total lobbying expenditures to influence a legislative body (direct lobbying)$0
Other exempt purpose expenditures$0
Lobbying nontaxable amount$0
Grassroots nontaxable amount$0
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Organizations performing similar types of work
IdNameAddressStateEstablishedTotal Income
1Walloon Lake Trust & ConservancyPetoskey, MI 49770MI$98,499
2The Coral Reef Alliance1330 Broadway Ste 1602, Oakland, CA 94612-2515CA1994-12$4,210,305
3Williamsburg Land Conservancy5000 New Point Rd Ste 3101, Williamsburg, VA 23188-9423VA1991-03$3,893,050
4Smith River Alliance IncPO BOX 2129, Crescent City, CA 95531-6129CA1980-04$3,389,880
5The San Elijo Lagoon ConservancyPO BOX 230634, Encinitas, CA 92023-0634CA1993-08$3,018,023
6Restore Americas Estuaries2300 Clarendon Blvd Ste 603, Arlington, VA 22201-3392VA2000-06$2,824,237
7Squam Lakes Conservation SocietyPO BOX 696, Holderness, NH 03245-0696NH1988-01$2,338,040
8Tip Of The Mitt Watershed Council426 Bay St, Petoskey, MI 49770-2428MI1982-05$1,706,638
9Grand Traverse Bay Watershed Initiative Inc13272 S West Bay Shore Dr, Traverse City, MI 49684-5456MI1995-04$1,482,537
10Huron River Watershed Council1100 N Main St Ste 210, Ann Arbor, MI 48104-1059MI1987-02$1,277,828
11Higgins Lake FoundationPO BOX 753, Roscommon, MI 48653-0753MI1989-06$806,717
12Clinton River Watershed Council1115 W Avon Rd, Rochester Hls, MI 48309-3038MI1995-01$521,285
13Friends Of The Rouge4901 Evergreen Road 220 Asc, Dearborn, MI 48128MI1987-06$345,944
14Burt Lake Preservation AssociationPO BOX 632, Indian River, MI 49749-0632MI1999-05$120,380
15Lily Lake Improvement AssociationPO BOX 268, Harrison, MI 48625-0268MI1982-05$115,496
16Yellow Dog Watershed Preserve IncPO BOX 5, Big Bay, MI 49808-0005MI1996-03$96,840
17Crystal Lake & Watershed AssociationPO BOX 89, Beulah, MI 49617-0089MI1990-05$95,397
18Torch Lake Protection AlliancePO BOX 706, Bellaire, MI 49615-0706MI1998-03$82,161
19Kalamazoo River Watershed Public Advisory Council1415 Harrison St, Kalamazoo, MI 49007-2565MI1999-06$49,361
20Friends Of The Cedar River Watershed Inc641 Harbor View Lane, Petoskey, MI 49770MI1997-12$0
Number of organizations performing similar types of work
Alaska3
Alabama4
Arkansas2
Arizona1
California46
Colorado4
Connecticut10
District of Columbia3
Delaware3
Florida9
Georgia7
Hawaii1
Illinois9
Indiana11
Kansas1
Louisiana2
Massachusetts25
Maryland7
Maine11
Michigan19
Minnesota13
Missouri3
Montana7
North Carolina14
New Hampshire5
New Jersey9
Nevada2
New York20
Ohio12
Oklahoma1
Oregon16
Pennsylvania27
Rhode Island4
South Carolina4
South Dakota2
Tennessee5
Texas7
Virginia8
Vermont4
Washington6
Wisconsin10
West Virginia1
Wyoming1
International1
Total360

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