Civic Intelligence

Central Lakes College Foundation

990 • Fiscal year 2016 • EIN 23-7007111

Jul 01, 2015 to Jun 30, 2016 • Filed on Oct 17, 2016

Organization ProfileCLCMN.EDU/SCHOLARSHIPS
501 West College DriveBrainerd, MN 56401

(218) 855-8129

Siviq Scores

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

Liabilities / Assets

8th percentile

0.00x

Higher debt load relative to assets than 8% of similar nonprofits.

2016 filings • 501(c)3 • $5M-$10M nonprofits • Source year 2016

Liabilities / Revenue

9th percentile

0.00x

Higher debt load relative to revenue than 9% of similar nonprofits.

2016 filings • 501(c)3 • $5M-$10M nonprofits • Source year 2016

Net Margin

76th percentile

15%

Higher net margin than 76% of similar nonprofits.

2016 filings • 501(c)3 • $5M-$10M nonprofits • Source year 2016

Top Officer Pay

19th percentile

$0

Higher top officer pay than 19% of similar nonprofits.

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

2016 filings • 501(c)3 • $5M-$10M nonprofits • Source year 2016

Asset Growth

31st percentile

-2.2%

Faster asset growth than 31% of similar nonprofits.

2016 filings • 501(c)3 • $5M-$10M nonprofits • Annualized from 2015 to 2016

Revenue Growth

45th percentile

1.4%

Faster revenue growth than 45% of similar nonprofits.

2016 filings • 501(c)3 • $5M-$10M nonprofits • Annualized from 2015 to 2016

Balance Sheet
Liabilities / Assets8th percentile

Assets

Down

$7,113,820

Down $161,492 (-2.2%) from 2015

Net Assets

Down

$7,110,913

Down $136,973 (-1.9%) from 2015

Liabilities

Down

$2,907

Down $24,519 (-89%) from 2015

Revenue And Expenses
Liabilities / Revenue9th percentileNet Margin76th percentile

Revenue

Up

$611,699

Up $8,375 (+1.4%) from 2015

Expenses

Down

$522,064

Down $217,623 (-29%) from 2015

Net Income

Up

$89,635

Up $225,998 (+166%) from 2015

Historical Trend

Balance Sheet Trend

Asset Growth31st percentile

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

$20M$15M$10M$5.0M$0Assets 2011: $5,511,892Liabilities 2011: $2,500Net Assets 2011: $5,509,3922011Assets 2012: $6,091,568Liabilities 2012: $41,681Net Assets 2012: $6,049,8872012Assets 2013: $6,590,488Liabilities 2013: $547Net Assets 2013: $6,589,9412013Assets 2014: $7,424,165Liabilities 2014: $38,365Net Assets 2014: $7,385,8002014Assets 2015: $7,275,312Liabilities 2015: $27,426Net Assets 2015: $7,247,8862015Assets 2016: $7,113,820Liabilities 2016: $2,907Net Assets 2016: $7,110,9132016Assets 2017: $9,984,439Liabilities 2017: $1,741,740Net Assets 2017: $8,242,6992017Assets 2018: $10,623,133Liabilities 2018: $1,667,214Net Assets 2018: $8,955,9192018Assets 2019: $10,804,225Liabilities 2019: $1,569,668Net Assets 2019: $9,234,5572019Assets 2020: $11,027,469Liabilities 2020: $1,548,207Net Assets 2020: $9,479,2622020Assets 2021: $13,221,977Liabilities 2021: $1,470,993Net Assets 2021: $11,750,9842021Assets 2022: $11,958,499Liabilities 2022: $1,394,871Net Assets 2022: $10,563,6282022Assets 2023: $12,795,464Liabilities 2023: $1,311,635Net Assets 2023: $11,483,8292023Assets 2024: $14,403,531Liabilities 2024: $1,497,383Net Assets 2024: $12,906,1482024Assets 2025: $15,698,314Liabilities 2025: $1,192,152Net Assets 2025: $14,506,1622025

Highlighted filing

2016

Assets$7,113,820
Liabilities$2,907
Net Assets$7,110,913
Open 2016 Filing

Operations Trend

Revenue Growth45th percentile

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

$4.0M$3.0M$2.0M$1.0M$0-$1.0MExpenses 2011: $327,8062011Expenses 2012: $412,0342012Expenses 2013: $497,3282013Revenue 2014: $858,282Expenses 2014: $501,891Net Income 2014: $356,3912014Revenue 2015: $603,324Expenses 2015: $739,687Net Income 2015: -$136,3632015Revenue 2016: $611,699Expenses 2016: $522,064Net Income 2016: $89,6352016Revenue 2017: $1,450,898Expenses 2017: $1,189,749Net Income 2017: $261,1492017Revenue 2018: $1,756,539Expenses 2018: $1,569,485Net Income 2018: $187,0542018Revenue 2019: $1,702,454Expenses 2019: $1,648,531Net Income 2019: $53,9232019Revenue 2020: $1,912,333Expenses 2020: $1,792,502Net Income 2020: $119,8312020Revenue 2021: $2,774,706Expenses 2021: $2,086,349Net Income 2021: $688,3572021Revenue 2022: $3,188,442Expenses 2022: $1,916,730Net Income 2022: $1,271,7122022Revenue 2023: $2,652,455Expenses 2023: $2,754,138Net Income 2023: -$101,6832023Revenue 2024: $3,002,200Expenses 2024: $2,596,566Net Income 2024: $405,6342024Revenue 2025: $3,669,250Expenses 2025: $3,011,679Net Income 2025: $657,5712025

Highlighted filing

2016

Revenue$611,699
Expenses$522,064
Net Income$89,635
Open 2016 Filing
Jump To
Filing Snapshot
Filing Period
Jul 1, 2015 to Jun 30, 2016
Signed
Oct 17, 2016
Return Version
2015v2.0
Gross Receipts
$622,627
Mission and Program Overview

Mission

To promote clc student success by addressing financial barriers to pursuing higher education - through scholarships, strong alumni and donor relationships, affordable student housing, and other appropriate assistance.

The orgainization provides scholarships to students attending central lakes college

Balance Sheet Detail
LineBeginningEndChange
Assets
Investments in Publicly Traded Securities$7,264,503$7,084,147▼ $180,356
Cash and Non-Interest-Bearing Accounts$-2,688$4,764▲ $7,452
Pledges and Grants Receivable$3,550$0▼ $3,550
Savings and Temporary Cash Investments$6,822$3,284▼ $3,538
Land, Buildings, and Equipment, Net$3,125$1,625▼ $1,500
Accounts Receivable-$0-
Other Notes and Loans Receivable, Net-$0-
Receivable From Disqualified Prsn-$0-
Receivables From Officers Etc-$0-
Investments Other Securities-$0-
Investments Program Related-$0-
Intangible Assets-$0-
Inventories for Sale or Use-$0-
Prepaid Expenses and Deferred Charges-$0-
Total Assets$7,275,312$7,113,820▼ $161,492
Other Assets Total-$20,000-
Liabilities
Accounts Payable and Accrued Expenses$27,426$2,907▼ $24,519
Total Liabilities$27,426$2,907▼ $24,519
Net Assets / Fund Balance
Permanently Rstr Net Assets$6,204,695$6,338,611▲ $133,916
Temporarily Rstr Net Assets$311,438$467,902▲ $156,464
Unrestricted Net Assets$731,753$304,400▼ $427,353
Total Net Assets Fund Balance$7,247,886$7,110,913▼ $136,973
Total Liabilities and Net Assets / Fund Balance$7,275,312$7,113,820▼ $161,492

Asset Categories

AssetBook ValueDepreciationBasis
Equipment$1,625$17,685$19,310

Endowment Activity

PeriodBeginningContrib.Gain/LossOther UsesEnd
2015$6,204,695$133,916--$6,338,611
2014$6,049,021$155,674--$6,204,695
2013$5,943,788$105,233--$6,049,021
2012$5,838,453$105,335--$5,943,788
2011$5,237,165$601,288--$5,838,453
Compensation and Service Providers
Top Officer Pay19th percentile

Board Members and Trustees

NameTitle
Barbara AndersonPresident
Pam O'RourkeVice President
Dustin GoslinDirector
Jani WieboltDirector
Jeff WigDirector
Jim BensonDirector
John OhlinDirector
Kevin DonnayDirector
Larry LundbladDirector
Mike HagenDirector
Nathan HamiltonDirector
Richard BreenDirector
Sherrie ChristensenDirector
Steve WenzelDirector
Tom ReekDirector
Jana ShogrenExecutive Director
Pam ThomsenExecutive Director
Bradley PersonSecretary
Tracie McFarlinTreasurer
Revenue and Support

Revenue Composition

Contributions and Grants
$437,257
Program Service Revenue
$0
Investment Income
$167,324
Other Revenue
$7,118
All Other Contributions
$437,257
Change in Net Assets
$89,635

Audited Revenue Reconciliation

Revenue per Audited Statements
$611,699
Revenue Not Reported on Form 990
$-215,680
Total Revenue per Audited Statements
$396,019
Total Revenue per Form 990
$611,699
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$522,064
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Salaries, Compensation, and Employee Benefits$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Fees for Service Investment Mgmnt Fees-$44,909-$44,909
All Other Expenses$14,961$3,618-$18,579
Other Expenses$15,000$10,652-$10,652
Fees for Services Accounting-$6,306-$6,306
Conferences and Meetings-$4,651-$4,651
Office Expenses$1,892$631-$2,523
Advertising$1,597$532-$2,129
Depreciation Depletion-$1,500-$1,500
Insurance-$1,333-$1,333
Fees for Services Other-$150-$150
Total Functional Expenses$442,140$79,924$0$522,064

Audited Expense Reconciliation

Line ItemAmount
Total Expenses per Audited Statements$532,992
Expenses per Audited Statements$522,064
Total Expenses per Form 990$522,064
Expenses Not Reported on Form 990$10,928
Fundraising, Events, and Gaming
Fundraising activities
Yes
Gaming activities
No
Professional fundraiser used
No

Fundraising and Gaming Totals

Line ItemAmount
Fundraising Gross Income$18,046
Fundraising Direct Expenses$10,928
Professional Fundraising Fees$0

Fundraising Events

EventGross ReceiptsGross RevenueDirect ExpensesNet Income
Annual Event$18,046$18,046$10,928$7,118
Total Events$18,046$18,046$10,928$7,118
Political and Lobbying Activity
Political campaign activity
No
Lobbying activity
No
Subject to proxy tax
No
Insider Transactions and Loans

Loans and Receivables

Line ItemBeginningEndChange
Receivables from Disqualified Persons-$0-
Receivables from Officers, Directors, Trustees, and Key Employees-$0-
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
Yes
Audit committee
Yes
Backup withholding compliance
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
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
No

Governance Explanations

Form 990, Part VI, Line 9: Officer, Director, Trustee, Key Employee Mailing Address

“Tracie mcfarlin18650 country road 24brainerd, mn 56401barbara anderson523 north third streetbrainerd, mn 56401brad person510 laurel streetbrainerd, mn 56401pam o'rourke14275 golf course drive ste 120baxter, mn 56425”

Form 990, Part VI, Line 11B: Form 990 Review Process

“The treasurer of the organization reviews the form 990 with the finance committee and makes a copy of the form 990 available to the board of directors and to the public upon request”

Form 990, Part VI, Line 12C: Explanation of Monitoring and Enforcement of Conflicts

“Monitoring of compliance with conflict of interest policies is done on an annual basis.”

Form 990, Part VI, Line 19: Other Organization Documents Publicly Available

“The organization makes its governance documents and financial statements avaiable to the public upon request.”

Filing and Contact Details

Filer

Filer Name
Central Lakes College Foundation
EIN
23-7007111
Phone
2188558129
Address
501 West College Drive, Brainerd, MN 56401

Signing Officer

Name
Tracie McFarlin
Title
Treasurer
Signed
2016-10-17
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Barbara Anderson
Formed
1968
Legal Domicile
Mn
Voting Board Members
16
Independent Board Members
16
Employees
0
Volunteers
21

Preparer

Firm
Justin Clasen & Company Ltd
Address
4325 W Woodman St Box 90, Pequot Lakes, MN 56472
Preparer
Christopher M Clasen
Phone
2185685242
Supplemental Narrative

Financial Statement Notes

Part V, Line 4: Intended uses of the endowment fund.

“Investment earnings from endowment funds are used to provide scholarships to students attending Central Lakes College.”

Part X : FIN48 Footnote

“The Foundation is a nonprofit organization and is exempt from federal and state income taxes under Internal Revenue Code Section 501(c)(3) and related state statutes. The Foundation is not a private foundation and had no unrelated business income during the current year. The Foundation files Internal Revenue Service Form 990 annually with the federal government and revenues for the past three and one-half years are open to examination.”

Part XI, Line 2D: Other revenue amounts included in F/S but not included on form 990

“Add back fundrasing expenses $10928”

Part XII, Line 2D: Other expenses and losses per audited F/S

“Subtract fundraising expenses $10928”

Raw XML AppendixShowing 400 of 573 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/Form990PartVIISectionAGrp/PersonNm10Tracie McFarlin
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IRS990/Form990PartVIISectionAGrp/TitleTxt3Director
IRS990/Form990PartVIISectionAGrp/TitleTxt4Director
IRS990/Form990PartVIISectionAGrp/TitleTxt5Director
IRS990/Form990PartVIISectionAGrp/TitleTxt6Director
IRS990/Form990PartVIISectionAGrp/TitleTxt7Director
IRS990/Form990PartVIISectionAGrp/TitleTxt8Director
IRS990/Form990PartVIISectionAGrp/TitleTxt9Director
IRS990/Form990PartVIISectionAGrp/TitleTxt10Treasurer
IRS990/Form990PartVIISectionAGrp/TitleTxt11Vice President
IRS990/Form990PartVIISectionAGrp/TitleTxt12Director
IRS990/Form990PartVIISectionAGrp/TitleTxt13Secretary
IRS990/Form990PartVIISectionAGrp/TitleTxt14Director
IRS990/Form990PartVIISectionAGrp/TitleTxt15Director
IRS990/Form990PartVIISectionAGrp/TitleTxt16Director
IRS990/Form990PartVIISectionAGrp/TitleTxt17Executive Dir.
IRS990/Form990PartVIISectionAGrp/TitleTxt18Executive Dir.
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IRS990/FSAuditedInd0true
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IRS990/FundraisingGrossIncomeAmt018046
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IRS990/LoanOutstandingInd0false
IRS990/LobbyingActivitiesInd0false
IRS990/LocalChaptersInd0false
IRS990/MaterialDiversionOrMisuseInd0false
IRS990/MembersOrStockholdersInd0false
IRS990/MethodOfAccountingAccrualInd0X
IRS990/MinutesOfCommitteesInd0true
IRS990/MinutesOfGoverningBodyInd0true
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IRS990/NetIncomeOrLossGrp/TotalRevenueColumnAmt00
IRS990/NetRentalIncomeOrLossGrp/TotalRevenueColumnAmt00
IRS990/NetUnrlzdGainsLossesInvstAmt0-226608
IRS990/NoListedPersonsCompensatedInd0X
IRS990/NondeductibleContributionsInd0false
IRS990/OccupancyGrp/TotalAmt00
IRS990/OfficeExpensesGrp/ManagementAndGeneralAmt0631
IRS990/OfficeExpensesGrp/ProgramServicesAmt01892
IRS990/OfficeExpensesGrp/TotalAmt02523
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IRS990/OnBehalfOfIssuerInd0false
IRS990/OperateHospitalInd0false
IRS990/Organization501c3Ind0X
IRS990/OrganizationFollowsSFAS117Ind0X
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IRS990/OtherExpensesGrp/Desc1Project Expense
IRS990/OtherExpensesGrp/Desc2Staff Expense
IRS990/OtherExpensesGrp/Desc3Software Maint
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IRS990/OtherExpensesGrp/ManagementAndGeneralAmt110652
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IRS990ScheduleA/GrossInvestmentIncome170Grp/CurrentTaxYearAmt0167324

Document Assets

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Filings

Displayed year

2016 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$7,113,820
Liabilities
$2,907
Net assets
$7,110,913
Revenue
$611,699
Expenses
$522,064
Net income
$89,635
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2025Detailed filing. Detailed filing data is available for this year.$15.7$1.19$14.5$3.67$3.01$0.66
2024Detailed filing. Detailed filing data is available for this year.$14.4$1.50$12.9$3.00$2.60$0.41
2023Detailed filing. Detailed filing data is available for this year.$12.8$1.31$11.5$2.65$2.75$0.10
2022Detailed filing. Detailed filing data is available for this year.$12.0$1.39$10.6$3.19$1.92$1.27
2021Detailed filing. Detailed filing data is available for this year.$13.2$1.47$11.8$2.77$2.09$0.69
2020Detailed filing. Detailed filing data is available for this year.$11.0$1.55$9.48$1.91$1.79$0.12
2019Detailed filing. Detailed filing data is available for this year.$10.8$1.57$9.23$1.70$1.65$0.05
2018Detailed filing. Detailed filing data is available for this year.$10.6$1.67$8.96$1.76$1.57$0.19
2017Detailed filing. Detailed filing data is available for this year.$9.98$1.74$8.24$1.45$1.19$0.26
2016Detailed filing. Detailed filing data is available for this year.$7.11$0.00$7.11$0.61$0.52$0.09
2015Detailed filing. Detailed filing data is available for this year.$7.28$0.03$7.25$0.60$0.74$0.14
2014Detailed filing. Detailed filing data is available for this year.$7.42$0.04$7.39$0.86$0.50$0.36
2013Facts available. Structured filing facts are available, but richer extracted sections are limited.$6.59$0.00$6.59$0.50
2012Facts available. Structured filing facts are available, but richer extracted sections are limited.$6.09$0.04$6.05$0.41
2011Facts available. Structured filing facts are available, but richer extracted sections are limited.$5.51$0.00$5.51$0.33