Civic Intelligence

New London-Spicer Educational Foundation

990 • Fiscal year 2020 • EIN 20-2369692

Jan 01, 2020 to Dec 31, 2020 • Filed on Nov 11, 2021

Organization ProfileNLS.K12.MN.US/EDUCATIONALFOUNDATION
PO Box 58New London, MN 56273

(320) 354-2252

Siviq Scores

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

Liabilities / Assets

27th percentile

0.00x

Tied with the lowest-debt nonprofits in its peer group.

2020 filings • 501(c)3 • $500k-$1M nonprofits • Source year 2020

Liabilities / Revenue

27th percentile

0.00x

Tied with the lowest-debt nonprofits in its peer group.

2020 filings • 501(c)3 • $500k-$1M nonprofits • Source year 2020

Net Margin

3rd percentile

-122%

Higher net margin than 3% of similar nonprofits.

2020 filings • 501(c)3 • $500k-$1M nonprofits • Source year 2020

Top Officer Pay

51st percentile

$0

Higher top officer pay than 51% of similar nonprofits.

Top officer pay equals 0.0% of source-year revenue.

2020 filings • 501(c)3 • $500k-$1M nonprofits • Source year 2020

Asset Growth

46th percentile

4.3%

Faster asset growth than 46% of similar nonprofits.

2020 filings • 501(c)3 • $500k-$1M nonprofits • Annualized from 2019 to 2020

Revenue Growth

1st percentile

-94%

Faster revenue growth than 1% of similar nonprofits.

2020 filings • 501(c)3 • $500k-$1M nonprofits • Annualized from 2019 to 2020

Balance Sheet
Liabilities / Assets27th percentile

Assets

Up

$545,722

Up $22,519 (+4.3%) from 2019

Net Assets

Up

$545,722

Up $22,519 (+4.3%) from 2019

Liabilities

Flat

$0

Flat from 2019

Revenue And Expenses
Liabilities / Revenue27th percentileNet Margin3rd percentile

Revenue

Down

$15,195

Down $226,870 (-94%) from 2019

Expenses

Down

$33,675

Down $12,607 (-27%) from 2019

Net Income

Down

-$18,480

Down $214,263 (-109%) from 2019

Historical Trend

Balance Sheet Trend

Asset Growth46th percentile

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

$800K$600K$400K$200K$0Assets 2011: $35,179Liabilities 2011: $0Net Assets 2011: $35,1792011Assets 2012: $22,920Net Assets 2012: $22,9202012Assets 2013: $29,020Liabilities 2013: $3,457Net Assets 2013: $25,5632013Assets 2014: $28,180Net Assets 2014: $28,1802014Assets 2015: $29,403Net Assets 2015: $29,4032015Assets 2016: $36,980Net Assets 2016: $36,9802016Assets 2017: $108,075Net Assets 2017: $108,0752017Assets 2018: $273,305Liabilities 2018: $0Net Assets 2018: $273,3052018Assets 2019: $523,203Liabilities 2019: $0Net Assets 2019: $523,2032019Assets 2020: $545,722Liabilities 2020: $0Net Assets 2020: $545,7222020Assets 2021: $638,195Liabilities 2021: $0Net Assets 2021: $638,1952021Assets 2022: $550,303Liabilities 2022: $0Net Assets 2022: $550,3032022Assets 2023: $630,234Liabilities 2023: $0Net Assets 2023: $630,2342023Assets 2024: $683,135Liabilities 2024: $0Net Assets 2024: $683,1352024

Highlighted filing

2020

Assets$545,722
Liabilities$0
Net Assets$545,722
Open 2020 Filing

Operations Trend

Revenue Growth1st percentile

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

$300K$200K$100K$0-$100KExpenses 2011: $11,5942011Revenue 2012: $20,277Expenses 2012: $32,536Net Income 2012: -$12,2592012Revenue 2013: $35,791Expenses 2013: $33,148Net Income 2013: $2,6432013Revenue 2014: $35,625Expenses 2014: $33,009Net Income 2014: $2,6162014Revenue 2015: $32,839Expenses 2015: $31,617Net Income 2015: $1,2222015Revenue 2016: $26,610Expenses 2016: $19,033Net Income 2016: $7,5772016Revenue 2017: $104,187Expenses 2017: $33,092Net Income 2017: $71,0952017Revenue 2018: $185,101Expenses 2018: $24,855Net Income 2018: $160,2462018Revenue 2019: $242,065Expenses 2019: $46,282Net Income 2019: $195,7832019Revenue 2020: $15,195Expenses 2020: $33,675Net Income 2020: -$18,4802020Revenue 2021: $63,082Expenses 2021: $34,150Net Income 2021: $28,9322021Revenue 2022: $37,829Expenses 2022: $31,832Net Income 2022: $5,9972022Revenue 2023: $55,840Expenses 2023: $42,543Net Income 2023: $13,2972023Revenue 2024: $135,439Expenses 2024: $144,735Net Income 2024: -$9,2962024

Highlighted filing

2020

Revenue$15,195
Expenses$33,675
Net Income-$18,480
Open 2020 Filing
Jump To
Filing Snapshot
Filing Period
Jan 1, 2020 to Dec 31, 2020
Signed
Nov 11, 2021
Return Version
2020v4.0
Gross Receipts
$15,195
Mission and Program Overview

Mission

The foundation exists to enhance the quality of education and educational opportunities and generate and distribute financial and other resources for the benefit of the students of the new london-spicer school district.

Balance Sheet Detail
LineBeginningEndChange
Assets
Cash and Non-Interest-Bearing Accounts$41,632$17,339▼ $24,293
Savings and Temporary Cash Investments$10,511$10,557▲ $46
Total Assets$523,203$545,722▲ $22,519
Other Assets Total$471,060$517,826▲ $46,766
Liabilities
Total Liabilities$0$0→ $0
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$523,203$545,722▲ $22,519
Total Net Assets Fund Balance$523,203$545,722▲ $22,519
Total Liabilities and Net Assets / Fund Balance$523,203$545,722▲ $22,519

Asset Categories

AssetBook ValueDepreciationBasis
Other Assets Org$23,578--
Compensation and Service Providers
Top Officer Pay51st percentile

Board Members and Trustees

NameTitle
Janet NovakPresident
Jeff VetschDirector
Lisa BerghDirector
Lori ZiemerDirector
Roger ImdiekeDirector
Sam QuamDirector
Megan SwansonExecutive Di
Adeline HaydenStudent Rep.
Ava KraemerStudent Rep.
Connor SolsrudStudent Rep.
Jack NoeldnerStudent Rep.
Bill AdamsSuperintende
Cole LieserTreasurer
Robert MollerVice Preside
Revenue and Support

Revenue Composition

Contributions and Grants
$15,150
Program Service Revenue
$0
Investment Income
$45
Other Revenue
$0
All Other Contributions
$15,150
Change in Net Assets
$-18,480
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$20,380
Grants and Similar Amounts Paid$13,295
Professional Fundraising Fees$0
Salaries, Compensation, and Employee Benefits$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Fees for Services Management-$17,547-$17,547
Grants to Domestic Orgs$13,295--$13,295
Insurance-$1,240-$1,240
Fees for Services Legal$1,100--$1,100
Office Expenses$393--$393
Other Expenses$100--$100
Total Functional Expenses$14,888$18,787$0$33,675
International Activity

Grant and Assistance Recipients

RecipientLocationCategoryPurposeAmount
New London Spicer SchoolsNew London, MNGovScholarships$13,295
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
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
Yes
Business relationship with 35% controlled entity
No
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
Yes
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
No

Governance Explanations

Form 990, Page 6, Part VI, Line 11B

“Annual form 990 gets reviewed by board members at monthly board meeting prior to filing.”

Form 990, Page 6, Part VI, Line 12C

“The policy is to review as a new board member would come on.”

Form 990, Page 6, Part VI, Line 15A

“Executive director salary is determined based on a contractual arrangement between foundation and nls public school district. Also, bonus compensation awarded to executive director for reaching fundraising goals.”

Form 990, Page 6, Part VI, Line 19

“No documents available to the public”

Filing and Contact Details

Filer

Filer Name
New London-spicer Educational
EIN
20-2369692
Phone
3203542252
Address
PO BOX 58, NEW LONDON, MN 56273

Signing Officer

Name
Megan Swanson
Title
Executive Director
Phone
3203542252
Signed
2021-11-11
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Janet Novak
Formed
2006
Legal Domicile
Mn
Voting Board Members
13
Independent Board Members
13
Employees
0
Volunteers
14

Preparer

Firm
Conway Deuth & Schmiesing Pllp
Address
331 3RD ST SW STE 2, WILLMAR, MN 56201-4440
Preparer
Mitchel a Hjelle CPA
Phone
3202353311
Supplemental Narrative

Additional Explanations

FORM 990 - ORGANIZATION'S MISSION

“The foundation exists to enhance the quality of education and educational opportunities and generate and distribute financial and other resources for the benefit of the students of the new london-spicer school district.”

Form 990, Page 2, Part III, Line 4D

“Provided innovative programs and projects for the benefit of the students of the new london-spicer school district.”

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IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearMinus2YearsAmt0184797
IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearMinus3YearsAmt091692
IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearMinus4YearsAmt026556
IRS990ScheduleA/TotalCalendarYear170Grp/TotalAmt0559851
IRS990ScheduleA/TotalSupportAmt0560720
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IRS990ScheduleD/OtherAssetsOrgGrp/BookValueAmt223578
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IRS990ScheduleD/OtherAssetsOrgGrp/Desc2WACF ALUMNI FUND
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IRS990ScheduleI/RecipientTable/CashGrantAmt013295
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IRS990ScheduleI/RecipientTable/PurposeOfGrantTxt0SCHOLARSHIPS
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IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0THE FOUNDATION EXISTS TO ENHANCE THE QUALITY OF EDUCATION AND EDUCATIONAL OPPORTUNITIES AND GENERATE AND DISTRIBUTE FINANCIAL AND OTHER RESOURCES FOR THE BENEFIT OF THE STUDENTS OF THE NEW LONDON-SPICER SCHOOL DISTRICT.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1PROVIDED INNOVATIVE PROGRAMS AND PROJECTS FOR THE BENEFIT OF THE STUDENTS OF THE NEW LONDON-SPICER SCHOOL DISTRICT.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2ANNUAL FORM 990 GETS REVIEWED BY BOARD MEMBERS AT MONTHLY BOARD MEETING PRIOR TO FILING.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3THE POLICY IS TO REVIEW AS A NEW BOARD MEMBER WOULD COME ON.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt4EXECUTIVE DIRECTOR SALARY IS DETERMINED BASED ON A CONTRACTUAL ARRANGEMENT BETWEEN FOUNDATION AND NLS PUBLIC SCHOOL DISTRICT. ALSO, BONUS COMPENSATION AWARDED TO EXECUTIVE DIRECTOR FOR REACHING FUNDRAISING GOALS.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt5NO DOCUMENTS AVAILABLE TO THE PUBLIC
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0FORM 990 - ORGANIZATION'S MISSION
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1FORM 990, PAGE 2, PART III, LINE 4D
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2FORM 990, PAGE 6, PART VI, LINE 11B
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3FORM 990, PAGE 6, PART VI, LINE 12C
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc4FORM 990, PAGE 6, PART VI, LINE 15A
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc5FORM 990, PAGE 6, PART VI, LINE 19
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IRS990/WebsiteAddressTxt0NLS.K12.MN.US/EDUCATIONALFOUNDATION
IRS990/WhistleblowerPolicyInd0false
ReturnHeader/BuildTS02022-09-23 18:48:47Z
ReturnHeader/BusinessOfficerGrp/DiscussWithPaidPreparerInd0true
ReturnHeader/BusinessOfficerGrp/PersonNm0MEGAN SWANSON
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0EXECUTIVE DIRECTOR
ReturnHeader/BusinessOfficerGrp/PhoneNum03203542252
ReturnHeader/BusinessOfficerGrp/SignatureDt02021-11-11
ReturnHeader/Filer/BusinessName/BusinessNameLine1Txt0NEW LONDON-SPICER EDUCATIONAL
ReturnHeader/Filer/BusinessName/BusinessNameLine2Txt0FOUNDATION
ReturnHeader/Filer/BusinessNameControlTxt0NEWL
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ReturnHeader/Filer/PhoneNum03203542252
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ReturnHeader/PreparerFirmGrp/PreparerFirmName/BusinessNameLine1Txt0CONWAY DEUTH & SCHMIESING PLLP
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/AddressLine1Txt0331 3RD ST SW STE 2
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/CityNm0WILLMAR
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/StateAbbreviationCd0MN
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/ZIPCd0562014440
ReturnHeader/PreparerPersonGrp/PhoneNum03202353311
ReturnHeader/PreparerPersonGrp/PreparationDt02021-11-11
ReturnHeader/PreparerPersonGrp/PreparerPersonNm0MITCHEL A HJELLE CPA
ReturnHeader/ReturnTs02021-11-15T13:44:27-06:00
ReturnHeader/ReturnTypeCd0990
ReturnHeader/SigningOfficerGrp/PersonFullName/PersonFirstNm0MEGAN
ReturnHeader/SigningOfficerGrp/PersonFullName/PersonLastNm0SWANSON
ReturnHeader/TaxPeriodBeginDt02020-01-01
ReturnHeader/TaxPeriodEndDt02020-12-31
ReturnHeader/TaxYr02020

Document Assets

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Filings

Displayed year

2020 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$545,722
Liabilities
$0
Net assets
$545,722
Revenue
$15,195
Expenses
$33,675
Net income
-$18,480
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Detailed filing. Detailed filing data is available for this year.$6.83$0.00$6.83$1.35$1.45$0.09
2023Detailed filing. Detailed filing data is available for this year.$6.30$0.00$6.30$0.56$0.43$0.13
2022Detailed filing. Detailed filing data is available for this year.$5.50$0.00$5.50$0.38$0.32$0.06
2021Detailed filing. Detailed filing data is available for this year.$6.38$0.00$6.38$0.63$0.34$0.29
2020Detailed filing. Detailed filing data is available for this year.$5.46$0.00$5.46$0.15$0.34$0.18
2019Detailed filing. Detailed filing data is available for this year.$5.23$0.00$5.23$2.42$0.46$1.96
2018Detailed filing. Detailed filing data is available for this year.$2.73$0.00$2.73$1.85$0.25$1.60
2017Detailed filing. Detailed filing data is available for this year.$1.08$1.08$1.04$0.33$0.71
2016Detailed filing. Detailed filing data is available for this year.$0.37$0.37$0.27$0.19$0.08
2015Detailed filing. Detailed filing data is available for this year.$0.29$0.29$0.33$0.32$0.01
2014Detailed filing. Detailed filing data is available for this year.$0.28$0.28$0.36$0.33$0.03
2013Detailed filing. Detailed filing data is available for this year.$0.29$0.03$0.26$0.36$0.33$0.03
2012Facts available. Structured filing facts are available, but richer extracted sections are limited.$0.23$0.23$0.20$0.33$0.12
2011Facts available. Structured filing facts are available, but richer extracted sections are limited.$0.35$0.00$0.35$0.12