Civic Intelligence

Minnesota Real Estate Foundation

990 • Fiscal year 2014 • EIN 02-0702439

Jul 01, 2013 to Jun 30, 2014 • Filed on Mar 06, 2015

Organization ProfileWWW.MINNESOTAREALESTATEFOUNDATION.COM
101 7th Ave South No 100Saint Cloud, MN 56301

(320) 253-4380

Siviq Scores

Precomputed percentiles for this filing year versus similar nonprofits in the same peer cohort.

Liabilities / Assets

83rd percentile

0.64x

Higher debt load relative to assets than 83% of similar nonprofits.

2014 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2014

Liabilities / Revenue

99th percentile

29.22x

Higher debt load relative to revenue than 99% of similar nonprofits.

2014 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2014

Net Margin

2nd percentile

-118%

Higher net margin than 2% of similar nonprofits.

2014 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2014

Top Officer Pay

86th percentile

$165,933

Higher top officer pay than 86% of similar nonprofits.

Top officer pay equals 374.0% of source-year revenue.

2014 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2014

Asset Growth

32nd percentile

-2.2%

Faster asset growth than 32% of similar nonprofits.

2014 filings • 501(c)3 • $1M-$5M nonprofits • Annualized from 2013 to 2014

Revenue Growth

Score unavailable

No value available

A valid growth rate could not be computed from the available filing history.

Annualized from 2013 to 2014

Balance Sheet
Liabilities / Assets83rd percentile

Assets

Down

$2,011,897

Down $44,587 (-2.2%) from 2013

Net Assets

Down

$715,376

Down $52,531 (-6.8%) from 2013

Liabilities

Up

$1,296,521

Up $7,944 (+0.6%) from 2013

Revenue And Expenses
Liabilities / Revenue99th percentileNet Margin2nd percentile

Revenue

Up

$44,364

Up $78,909 (+228%) from 2013

Expenses

Down

$96,895

Down $786,462 (-89%) from 2013

Net Income

Up

-$52,531

Up $865,371 (+94%) from 2013

Historical Trend

Balance Sheet Trend

Asset Growth32nd percentile

The highlighted filing sits inside the broader history for assets, liabilities, and net assets.

$4.0M$3.0M$2.0M$1.0M$0Assets 2011: $3,250,177Liabilities 2011: $1,708,548Net Assets 2011: $1,541,6292011Assets 2012: $2,995,910Liabilities 2012: $1,310,101Net Assets 2012: $1,685,8092012Assets 2013: $2,056,484Liabilities 2013: $1,288,577Net Assets 2013: $767,9072013Assets 2014: $2,011,897Liabilities 2014: $1,296,521Net Assets 2014: $715,3762014Assets 2015: $870,300Liabilities 2015: $784,196Net Assets 2015: $86,1042015Assets 2016: $843,618Liabilities 2016: $754,473Net Assets 2016: $89,1452016Assets 2017: $810,622Liabilities 2017: $709,512Net Assets 2017: $101,1102017Assets 2018: $792,026Liabilities 2018: $687,391Net Assets 2018: $104,6352018Assets 2019: $703,812Liabilities 2019: $595,421Net Assets 2019: $108,3912019Assets 2020: $680,448Liabilities 2020: $568,827Net Assets 2020: $111,6212020Assets 2021: $714,578Liabilities 2021: $615,490Net Assets 2021: $99,0882021Assets 2022: $615,813Liabilities 2022: $512,850Net Assets 2022: $102,9632022Assets 2023: $601,672Liabilities 2023: $496,152Net Assets 2023: $105,5202023Assets 2024: $625,430Liabilities 2024: $515,569Net Assets 2024: $109,8612024Assets 2025: $615,484Liabilities 2025: $528,043Net Assets 2025: $87,4412025

Highlighted filing

2014

Assets$2,011,897
Liabilities$1,296,521
Net Assets$715,376
Open 2014 Filing

Operations Trend

Revenue GrowthScore unavailable

Revenue, expenses, and net income across loaded years, with this filing highlighted.

$2.0M$1.0M$0-$1.0MRevenue 2011: $1,620,818Expenses 2011: $854,431Net Income 2011: $766,3872011Expenses 2012: $147,2582012Revenue 2013: -$34,545Expenses 2013: $883,357Net Income 2013: -$917,9022013Revenue 2014: $44,364Expenses 2014: $96,895Net Income 2014: -$52,5312014Revenue 2015: $896,666Expenses 2015: $481,899Net Income 2015: $414,7672015Revenue 2016: $5,262Expenses 2016: $2,221Net Income 2016: $3,0412016Revenue 2017: $14,195Expenses 2017: $2,230Net Income 2017: $11,9652017Revenue 2018: $4,773Expenses 2018: $1,248Net Income 2018: $3,5252018Revenue 2019: $4,513Expenses 2019: $757Net Income 2019: $3,7562019Revenue 2020: $4,388Expenses 2020: $1,158Net Income 2020: $3,2302020Revenue 2021: $4,438Expenses 2021: $16,971Net Income 2021: -$12,5332021Revenue 2022: $4,498Expenses 2022: $623Net Income 2022: $3,8752022Revenue 2023: $3,188Expenses 2023: $631Net Income 2023: $2,5572023Revenue 2024: $5,051Expenses 2024: $710Net Income 2024: $4,3412024Revenue 2025: $0Expenses 2025: $22,420Net Income 2025: -$22,4202025

Highlighted filing

2014

Revenue$44,364
Expenses$96,895
Net Income-$52,531
Open 2014 Filing
Jump To
Filing Snapshot
Filing Period
Jul 1, 2013 to Jun 30, 2014
Signed
Mar 6, 2015
Return Version
2013v4.0
Gross Receipts
$76,442
Mission and Program Overview

Mission

To build community by simplifying and facilitating the gifting of real estate.

Build community by facilitating gifting of real estate.

Balance Sheet Detail
LineBeginningEndChange
Assets
Land, Buildings, and Equipment, Net$973,679$980,921▲ $7,242
Other Notes and Loans Receivable, Net$774,615$565,703▼ $208,912
Cash and Non-Interest-Bearing Accounts$127,320$227,012▲ $99,692
Investments Program Related$120,739$167,154▲ $46,415
Accounts Receivable$31,011$41,964▲ $10,953
Savings and Temporary Cash Investments$29,120$29,143▲ $23
Total Assets$2,056,484$2,011,897▼ $44,587
Liabilities
Other Liabilities$768,804$749,357▼ $19,447
Mortgage Notes Payable Secured by Investment Property$426,000$426,000→ $0
Accounts Payable and Accrued Expenses$93,773$121,164▲ $27,391
Total Liabilities$1,288,577$1,296,521▲ $7,944
Net Assets / Fund Balance
Unrestricted Net Assets$767,907$715,376▼ $52,531
Total Net Assets Fund Balance$767,907$715,376▼ $52,531
Total Liabilities and Net Assets / Fund Balance$2,056,484$2,011,897▼ $44,587

Asset Categories

AssetBook ValueDepreciationBasis
Equipment$121$3,834$3,955
Investment Program Related Org$137,656--
Buildings$162,000--
Land$818,800--
Compensation and Service Providers
Top Officer Pay86th percentile

Board Members and Trustees

NameTitle
Devid WerschayChair
Dennis GregoryEx-officio Cmcf Board Chair
Keith FinstadEx-officio Cmcf Finance Chair
Steven JoulPresident
Brian ZimneyVice-chair
Allen BrightDirector
Andrew SteilDirector
Chris HauckDirector
Leigh LenzmeierDirector
Rod OsterlohDirector
James BesteTreasurer
Revenue and Support

Revenue Composition

Contributions and Grants
$44,707
Program Service Revenue
$0
Investment Income
$-8,276
Other Revenue
$7,933
All Other Contributions
$44,707
Change in Net Assets
$-52,531

Noncash Contribution Practices

Property subject to holding requirements
No
Reviewed unusual noncash gifts
Yes
Third parties used for noncash contributions
No

Noncash Contributions

Contribution TypeContribution CountReported AmountValuation Method
Real Estate Other1$42,000Appraisal Value
Total Noncash Contributions1$42,000-

Audited Revenue Reconciliation

Revenue per Audited Statements
$44,364
Revenue Not Reported on Financial Statements
$0
Revenue Not Reported on Form 990
$0
Total Revenue per Audited Statements
$44,364
Total Revenue per Form 990
$44,364
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$60,657
Grants and Similar Amounts Paid$36,238
Total Fundraising Expense$17,612
Professional Fundraising Fees$0
Salaries, Compensation, and Employee Benefits$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Grants to Domestic Orgs$36,238--$36,238
Fees for Services Management$7,320$8,019$12,112$27,451
Interest$17,040--$17,040
Fees for Services Accounting$1,174$1,285$1,941$4,400
Other Expenses$7,067-$2,659$2,659
Office Expenses$329$360$543$1,232
Conferences and Meetings$78$85$129$292
Depreciation Depletion$69$75$114$258
Information Technology$69$75$114$258
Total Functional Expenses$69,384$9,899$17,612$96,895

Audited Expense Reconciliation

Line ItemAmount
Expenses per Audited Statements$96,895
Total Expenses per Audited Statements$96,895
Total Expenses per Form 990$96,895
Expenses Not Reported on Financial Statements$0
Expenses Not Reported on Form 990$0
International Activity

Grant and Assistance Recipients

RecipientLocationCategoryPurposeAmount
41-1556013-501(c)(3)Scholarship Fund$20,453
41-1267531-501(c)(3)General Support$15,785
Fundraising, Events, and Gaming
Fundraising activities
No
Gaming activities
No
Professional fundraiser used
No

Fundraising and Gaming Totals

Line ItemAmount
Professional Fundraising Fees$0
Political and Lobbying Activity
Political campaign activity
No
Lobbying activity
No
Subject to proxy tax
No
Debt and Bond Financing

Other Reported Liabilities

LiabilityAmount
Agency Payable$749,357
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
Yes
Audit committee
No
Backup withholding compliance
Yes
Business relationship with family members
No
Business relationship with organization members
No
Material changes to governing documents
No
Compensation from other sources disclosed
No
CEO compensation reviewed
No
Other officer compensation reviewed
No
Conflict-of-interest policy
Yes
Audited financial statements prepared
No
Key decisions subject to board approval
No
Management duties delegated
Yes

Governance Explanations

Form 990, Part VI, Section A, Line 3

“Steven r. Joul, the president of minnesota real estate foundation's (mref) sole member, central minnesota community foundation, provides services to mref including a) consulting and advising mref regarding charitable needs of the communities served; b) assisting mref in defining areas of interest and developing criteria and procedures for grants; c) indentifying charitable organizations within the areas of interest of mref; and d) receiving and distributing property and funds on behalf of mref.”

Form 990, Part VI, Section A, Line 6

“Central minnesota community foundationis the sole member of minnesota real estate foundation.”

Form 990, Part VI, Section A, Line 7A

“Cmcf appoints simple majority of the members of the board of directors of mref.”

Form 990, Part VI, Section A, Line 8B

“Mref does not have any committees with authority to act on behalf of the governing body.”

Form 990, Part VI, Section B, Line 11

“The 990 is prepared by mref's public accountant with the assistance of mref's personnel. Upon completion of the 990, it is provided to mref's board at the next available meeting in order to review and sign.”

Form 990, Part VI, Section B, Line 12C

“The staff of mref review all returned, signed conflict of interest policy statements prepared by the volunteers and key employees for conflicts identified within the statement. Should a transaction with the volunteer or key employee identified within the statement be recommended, the potential transaction is brought to the board of directors for approval and the related volunteer or key employee is removed from the discussion and/or vote.”

Form 990, Part VI, Section C, Line 19

“Mref makes its governing documents, conflict of interest policy, and financial statements available to the public upon request.”

Filing and Contact Details

Filer

EIN
02-0702439
Phone
3202534380

Signing Officer

Name
Steven Joul
Title
President
Phone
3202534380
Signed
2015-03-06
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Steven Joul
Formed
2003
Legal Domicile
Mn
Voting Board Members
10
Independent Board Members
9
Employees
0
Volunteers
20

Preparer

Preparer
Jay M Abdo CPA
Phone
9528359090
Supplemental Narrative

Financial Statement Notes

PART X, LINE 2:

“The foundation is subject to the accounting standard on accounting for uncertainty in income taxes, which addresses the determination of whether tax benefits claimed or expected to be claimed on a tax return should be recorded in the financial statements. Under this guidance, the foundation may recognize the tax benefit from an uncertain tax position only if it is more-likely-than-not that the tax position will be sustained on examination by taxing authorities, based on the technical merits of the position. The tax benefits recognized in the financial statements from such a position are measured based on the largest benefit that has a greater than 50% likelihood of being realized upon ultimate settlement. The guidance on accounting for uncertainty in income taxes also addresses de-recognition, classification, interest and penalties on income taxes, and accounting in interim periods. Management evaluated the tax positions for the foundation and concluded that the foundation had taken no uncertain income tax positions that require adjustments to the financial statements to comply with the provisions of this guidance. With few exceptions, the foundation is no longer subject to income tax examinations by the u.s. Federal, state or local tax authorities for years before 2010, which is the standard statute of limitations look-back period.”

Raw XML AppendixShowing 400 of 570 raw XML fields

This appendix keeps the raw XML leaves available for debugging and edge-case review. The human report above is the primary experience.

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IRS990/LessCostOthBasisSalesExpnssGrp/OtherAmt032078
IRS990/LessRentalExpensesGrp/RealAmt00
IRS990/LoanOutstandingInd00
IRS990/LobbyingActivitiesInd00
IRS990/LocalChaptersInd00
IRS990/MaterialDiversionOrMisuseInd00
IRS990/MembersOrStockholdersInd01
IRS990/MethodOfAccountingAccrualInd0X
IRS990/MinutesOfCommitteesInd00
IRS990/MinutesOfGoverningBodyInd01
IRS990/MissionDesc0TO BUILD COMMUNITY BY SIMPLIFYING AND FACILITATING THE GIFTING OF REAL ESTATE.
IRS990/MoreThan5000KToIndividualsInd00
IRS990/MoreThan5000KToOrgInd00
IRS990/MortgNotesPyblScrdInvstPropGrp/BOYAmt0426000
IRS990/MortgNotesPyblScrdInvstPropGrp/EOYAmt0426000
IRS990/NetAssetsOrFundBalancesBOYAmt0767907
IRS990/NetAssetsOrFundBalancesEOYAmt0715376
IRS990/NetGainOrLossInvestmentsGrp/RelatedOrExemptFuncIncomeAmt0-8300
IRS990/NetGainOrLossInvestmentsGrp/TotalRevenueColumnAmt0-8300
IRS990/NetRentalIncomeOrLossGrp/RelatedOrExemptFuncIncomeAmt02188
IRS990/NetRentalIncomeOrLossGrp/TotalRevenueColumnAmt02188
IRS990/NetUnrelatedBusTxblIncmAmt00
IRS990/NoncashContributionsAmt042000
IRS990/NondeductibleContributionsInd00
IRS990/OfficeExpensesGrp/FundraisingAmt0543
IRS990/OfficeExpensesGrp/ManagementAndGeneralAmt0360
IRS990/OfficeExpensesGrp/ProgramServicesAmt0329
IRS990/OfficeExpensesGrp/TotalAmt01232
IRS990/OfficerMailingAddressInd00
IRS990/OperateHospitalInd00
IRS990/Organization501c3Ind0X
IRS990/OrganizationFollowsSFAS117Ind0X
IRS990/OtherChangesInNetAssetsAmt00
IRS990/OtherExpensesGrp/Desc0FUND EXPENSES
IRS990/OtherExpensesGrp/Desc1DONOR DEVELOPMENT
IRS990/OtherExpensesGrp/FundraisingAmt02659
IRS990/OtherExpensesGrp/ProgramServicesAmt07067
IRS990/OtherExpensesGrp/TotalAmt07067
IRS990/OtherExpensesGrp/TotalAmt12659
IRS990/OtherLiabilitiesGrp/BOYAmt0768804
IRS990/OtherLiabilitiesGrp/EOYAmt0749357
IRS990/OtherRevenueMiscGrp/BusinessCd0531390
IRS990/OtherRevenueMiscGrp/BusinessCd1531390
IRS990/OtherRevenueMiscGrp/Desc0MANAGEMENT FEE INCOME
IRS990/OtherRevenueMiscGrp/Desc1OTHER INCOME
IRS990/OtherRevenueMiscGrp/RelatedOrExemptFuncIncomeAmt05718
IRS990/OtherRevenueMiscGrp/RelatedOrExemptFuncIncomeAmt127
IRS990/OtherRevenueMiscGrp/TotalRevenueColumnAmt05718
IRS990/OtherRevenueMiscGrp/TotalRevenueColumnAmt127
IRS990/OtherRevenueTotalAmt05745
IRS990/OthNotesLoansReceivableNetGrp/BOYAmt0774615
IRS990/OthNotesLoansReceivableNetGrp/EOYAmt0565703
IRS990/PartialLiquidationInd00
IRS990/PayPremiumsPrsnlBnftCntrctInd00
IRS990/PoliticalCampaignActyInd00
IRS990/PrincipalOfficerNm0STEVEN JOUL
IRS990/ProfessionalFundraisingInd00
IRS990/ProhibitedTaxShelterTransInd00
IRS990/PYBenefitsPaidToMembersAmt00
IRS990/PYContributionsGrantsAmt085555
IRS990/PYExcessBenefitTransInd00
IRS990/PYGrantsAndSimilarPaidAmt0706109
IRS990/PYInvestmentIncomeAmt0-133697
IRS990/PYOtherExpensesAmt0177248
IRS990/PYOtherRevenueAmt013597
IRS990/PYProgramServiceRevenueAmt00
IRS990/PYRevenuesLessExpensesAmt0-917902
IRS990/PYSalariesCompEmpBnftPaidAmt00
IRS990/PYTotalExpensesAmt0883357
IRS990/PYTotalProfFndrsngExpnsAmt00
IRS990/PYTotalRevenueAmt0-34545
IRS990/QuidProQuoContributionsInd00
IRS990/RcvFndsToPayPrsnlBnftCntrctInd00
IRS990/ReconcilationRevenueExpnssAmt0-52531
IRS990/RegularMonitoringEnfrcInd01
IRS990/RelatedEntityInd01
IRS990/RelatedOrganizationCtrlEntInd00
IRS990/RentalIncomeOrLossGrp/RealAmt02188
IRS990/ReportInvestmentsOtherSecInd00
IRS990/ReportLandBuildingEquipmentInd01
IRS990/ReportOtherAssetsInd00
IRS990/ReportOtherLiabilitiesInd01
IRS990/ReportProgramRelatedInvstInd01
IRS990/RevenueAmt0-367
IRS990/SavingsAndTempCashInvstGrp/BOYAmt029120
IRS990/SavingsAndTempCashInvstGrp/EOYAmt029143
IRS990ScheduleA/CertificationInd0X
IRS990ScheduleA/Contribution35ControlledInd00
IRS990ScheduleA/ContributionControllerInd00
IRS990ScheduleA/ContributionFamilyInd00
IRS990ScheduleA/SupportedOrganizationsTotalCnt01
IRS990ScheduleA/SupportedOrgInformationGrp/EIN0363412544
IRS990ScheduleA/SupportedOrgInformationGrp/GoverningDocumentListedInd01
IRS990ScheduleA/SupportedOrgInformationGrp/OrganizationTypeDesc08
IRS990ScheduleA/SupportedOrgInformationGrp/SupportAmt00
IRS990ScheduleA/SupportedOrgInformationGrp/SupportedOrganizationName/BusinessNameLine10CENTRAL MINNESOTA COMMUNITY FOUNDATION
IRS990ScheduleA/SupportedOrgInformationGrp/SupportedOrgNotifiedInd01
IRS990ScheduleA/SupportedOrgInformationGrp/USOrganizedInd01
IRS990ScheduleA/SupportingOrganization509a3Ind0X
IRS990ScheduleA/SupportingOrgType1Ind0X
IRS990ScheduleA/SupportSumAmt00
IRS990ScheduleB/ContributorInformationGrp/ContributorBusinessName/BusinessNameLine10RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorNum0RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/AddressLine10RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/AddressLine20RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/City0RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/State0RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/ZIPCode0RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/TotalContributionsAmt0RESTRICTED
IRS990/ScheduleBRequiredInd01
IRS990ScheduleD/BuildingsGrp/BookValueAmt0162000
IRS990ScheduleD/BuildingsGrp/InvestmentCostOrOtherBasisAmt0162000
IRS990ScheduleD/DisclosedForCharitablePrpsInd01
IRS990ScheduleD/DisclosedOrgLegCtrlInd01
IRS990ScheduleD/DonorAdvisedFundsContriAmt044707
IRS990ScheduleD/DonorAdvisedFundsGrantsAmt036238
IRS990ScheduleD/DonorAdvisedFundsHeldCnt09
IRS990ScheduleD/DonorAdvisedFundsVlEOYAmt01147954
IRS990ScheduleD/EquipmentGrp/BookValueAmt0121
IRS990ScheduleD/EquipmentGrp/DepreciationAmt03834
IRS990ScheduleD/EquipmentGrp/OtherCostOrOtherBasisAmt03955
IRS990ScheduleD/ExpensesNotReportedAmt00
IRS990ScheduleD/ExpensesNotRptFinclStmtAmt00
IRS990ScheduleD/ExpensesSubtotalAmt096895
IRS990ScheduleD/FootnoteTextInd0X
IRS990ScheduleD/InvstProgramRelatedOrgGrp/BookValueAmt029498
IRS990ScheduleD/InvstProgramRelatedOrgGrp/BookValueAmt1137656
IRS990ScheduleD/InvstProgramRelatedOrgGrp/Desc0INVESTMENT IN TRUST - MONEY MARKET
IRS990ScheduleD/InvstProgramRelatedOrgGrp/Desc1INVESTMENT IN TRUST - MUTUAL FUNDS
IRS990ScheduleD/InvstProgramRelatedOrgGrp/MethodValuationCd0F
IRS990ScheduleD/InvstProgramRelatedOrgGrp/MethodValuationCd1F
IRS990ScheduleD/LandGrp/BookValueAmt0818800
IRS990ScheduleD/LandGrp/InvestmentCostOrOtherBasisAmt0818800
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt0749357
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc0AGENCY PAYABLE
IRS990ScheduleD/RevenueNotReportedAmt00
IRS990ScheduleD/RevenueNotReportedFinclStmtAmt00
IRS990ScheduleD/RevenueSubtotalAmt044364
IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt0THE FOUNDATION IS SUBJECT TO THE ACCOUNTING STANDARD ON ACCOUNTING FOR UNCERTAINTY IN INCOME TAXES, WHICH ADDRESSES THE DETERMINATION OF WHETHER TAX BENEFITS CLAIMED OR EXPECTED TO BE CLAIMED ON A TAX RETURN SHOULD BE RECORDED IN THE FINANCIAL STATEMENTS. UNDER THIS GUIDANCE, THE FOUNDATION MAY RECOGNIZE THE TAX BENEFIT FROM AN UNCERTAIN TAX POSITION ONLY IF IT IS MORE-LIKELY-THAN-NOT THAT THE TAX POSITION WILL BE SUSTAINED ON EXAMINATION BY TAXING AUTHORITIES, BASED ON THE TECHNICAL MERITS OF THE POSITION. THE TAX BENEFITS RECOGNIZED IN THE FINANCIAL STATEMENTS FROM SUCH A POSITION ARE MEASURED BASED ON THE LARGEST BENEFIT THAT HAS A GREATER THAN 50% LIKELIHOOD OF BEING REALIZED UPON ULTIMATE SETTLEMENT. THE GUIDANCE ON ACCOUNTING FOR UNCERTAINTY IN INCOME TAXES ALSO ADDRESSES DE-RECOGNITION, CLASSIFICATION, INTEREST AND PENALTIES ON INCOME TAXES, AND ACCOUNTING IN INTERIM PERIODS. MANAGEMENT EVALUATED THE TAX POSITIONS FOR THE FOUNDATION AND CONCLUDED THAT THE FOUNDATION HAD TAKEN NO UNCERTAIN INCOME TAX POSITIONS THAT REQUIRE ADJUSTMENTS TO THE FINANCIAL STATEMENTS TO COMPLY WITH THE PROVISIONS OF THIS GUIDANCE. WITH FEW EXCEPTIONS, THE FOUNDATION IS NO LONGER SUBJECT TO INCOME TAX EXAMINATIONS BY THE U.S. FEDERAL, STATE OR LOCAL TAX AUTHORITIES FOR YEARS BEFORE 2010, WHICH IS THE STANDARD STATUTE OF LIMITATIONS LOOK-BACK PERIOD.
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc0PART X, LINE 2:
IRS990ScheduleD/TotalBookValueLandBuildingsAmt0980921
IRS990ScheduleD/TotalBookValueProgramRltdAmt0167154
IRS990ScheduleD/TotalExpensesPerForm990Amt096895
IRS990ScheduleD/TotalLiabilityAmt0749357
IRS990ScheduleD/TotalRevenuePerForm990Amt044364
IRS990ScheduleD/TotalRevEtcAuditedFinclStmtAmt044364
IRS990ScheduleD/TotExpnsEtcAuditedFinclStmtAmt096895
IRS990ScheduleI/GrantRecordsMaintainedInd01
IRS990ScheduleI/RecipientTable/CashGrantAmt015785
IRS990ScheduleI/RecipientTable/CashGrantAmt120453
IRS990ScheduleI/RecipientTable/IRCSectionDesc0501(C)(3)
IRS990ScheduleI/RecipientTable/IRCSectionDesc1501(C)(3)
IRS990ScheduleI/RecipientTable/PurposeOfGrantTxt0GENERAL SUPPORT
IRS990ScheduleI/RecipientTable/PurposeOfGrantTxt1SCHOLARSHIP FUND
IRS990ScheduleI/RecipientTable/RecipientBusinessName/BusinessNameLine10MINNESOTA INDEPENDENT SCHOOL FORUM INC
IRS990ScheduleI/RecipientTable/RecipientBusinessName/BusinessNameLine11THE NORTHWEST MINNESOTA FOUNDATION
IRS990ScheduleI/RecipientTable/RecipientEIN0411267531
IRS990ScheduleI/RecipientTable/RecipientEIN1411556013
IRS990ScheduleI/RecipientTable/USAddress/AddressLine10445 MINNESOTA STREET NO 505
IRS990ScheduleI/RecipientTable/USAddress/AddressLine11201 3RD STREET NW
IRS990ScheduleI/RecipientTable/USAddress/City0ST PAUL
IRS990ScheduleI/RecipientTable/USAddress/City1BEMIDJI
IRS990ScheduleI/RecipientTable/USAddress/State0MN
IRS990ScheduleI/RecipientTable/USAddress/State1MN
IRS990ScheduleI/RecipientTable/USAddress/ZIPCode055101
IRS990ScheduleI/RecipientTable/USAddress/ZIPCode156601
IRS990ScheduleI/SupplementalInformationDetail/ExplanationTxt0THE GRANT FUNDS ISSUED ARE UNRESTRICTED, UNMONITORED FUNDS.
IRS990ScheduleI/SupplementalInformationDetail/FormAndLineReferenceDesc0PART I, LINE 2:
IRS990ScheduleI/Total501c3OrgCnt02
IRS990ScheduleJ/AnyNonFixedPaymentsInd00
IRS990ScheduleJ/BoardOrCommitteeApprovalInd0X
IRS990ScheduleJ/CompBasedOnRevenueOfFlngOrgInd00
IRS990ScheduleJ/CompBsdNetEarnsFlngOrgInd00
IRS990ScheduleJ/CompBsdNetEarnsRltdOrgsInd00
IRS990ScheduleJ/CompBsdOnRevRelatedOrgsInd00
IRS990ScheduleJ/EquityBasedCompArrngmInd00
IRS990ScheduleJ/InitialContractExceptionInd00
IRS990/ScheduleJRequiredInd01
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/BaseCompensationFilingOrgAmt00
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/BonusFilingOrganizationAmount00
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/BonusRelatedOrganizationsAmt00
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/CompensationBasedOnRltdOrgsAmt0152933
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/CompReportPrior990FilingOrgAmt00
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/CompReportPrior990RltdOrgsAmt00
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/DeferredCompensationFlngOrgAmt00
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/DeferredCompRltdOrgsAmt00
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/NontaxableBenefitsFilingOrgAmt00
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/NontaxableBenefitsRltdOrgsAmt013000
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/OtherCompensationFilingOrgAmt00
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/OtherCompensationRltdOrgsAmt00
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/PersonNm0STEVEN JOUL
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/TitleTxt0PRESIDENT
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/TotalCompensationFilingOrgAmt00
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/TotalCompensationRltdOrgsAmt0165933
IRS990ScheduleJ/SeverancePaymentInd00

Document Assets

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Filings

Displayed year

2014 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$2,011,897
Liabilities
$1,296,521
Net assets
$715,376
Revenue
$44,364
Expenses
$96,895
Net income
-$52,531
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2025Detailed filing. Detailed filing data is available for this year.$0.62$0.53$0.09$0.00$0.02$0.02
2024Detailed filing. Detailed filing data is available for this year.$0.63$0.52$0.11$0.01$0.00$0.00
2023Detailed filing. Detailed filing data is available for this year.$0.60$0.50$0.11$0.00$0.00$0.00
2022Detailed filing. Detailed filing data is available for this year.$0.62$0.51$0.10$0.00$0.00$0.00
2021Detailed filing. Detailed filing data is available for this year.$0.71$0.62$0.10$0.00$0.02$0.01
2020Detailed filing. Detailed filing data is available for this year.$0.68$0.57$0.11$0.00$0.00$0.00
2019Detailed filing. Detailed filing data is available for this year.$0.70$0.60$0.11$0.00$0.00$0.00
2018Detailed filing. Detailed filing data is available for this year.$0.79$0.69$0.10$0.00$0.00$0.00
2017Detailed filing. Detailed filing data is available for this year.$0.81$0.71$0.10$0.01$0.00$0.01
2016Detailed filing. Detailed filing data is available for this year.$0.84$0.75$0.09$0.01$0.00$0.00
2015Detailed filing. Detailed filing data is available for this year.$0.87$0.78$0.09$0.90$0.48$0.41
2014Detailed filing. Detailed filing data is available for this year.$2.01$1.30$0.72$0.04$0.10$0.05
2013Facts available. Structured filing facts are available, but richer extracted sections are limited.$2.06$1.29$0.77$0.03$0.88$0.92
2012Facts available. Structured filing facts are available, but richer extracted sections are limited.$3.00$1.31$1.69$0.15
2011Summary only. Only limited summary data is available for this year.$3.25$1.71$1.54$1.62$0.85$0.77