Civic Intelligence

Central Lakes College Foundation

990 • Fiscal year 2018 • EIN 23-7007111

Jul 01, 2017 to Jun 30, 2018 • Filed on Oct 22, 2018

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

44th percentile

0.16x

Higher debt load relative to assets than 44% of similar nonprofits.

2018 filings • 501(c)3 • $10M-$25M nonprofits • Source year 2018

Liabilities / Revenue

79th percentile

0.95x

Higher debt load relative to revenue than 79% of similar nonprofits.

2018 filings • 501(c)3 • $10M-$25M nonprofits • Source year 2018

Net Margin

68th percentile

11%

Higher net margin than 68% of similar nonprofits.

2018 filings • 501(c)3 • $10M-$25M nonprofits • Source year 2018

Top Officer Pay

12th percentile

$0

Higher top officer pay than 12% of similar nonprofits.

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

2018 filings • 501(c)3 • $10M-$25M nonprofits • Source year 2018

Asset Growth

66th percentile

6.4%

Faster asset growth than 66% of similar nonprofits.

2018 filings • 501(c)3 • $10M-$25M nonprofits • Annualized from 2017 to 2018

Revenue Growth

78th percentile

21%

Faster revenue growth than 78% of similar nonprofits.

2018 filings • 501(c)3 • $10M-$25M nonprofits • Annualized from 2017 to 2018

Balance Sheet
Liabilities / Assets44th percentile

Assets

Up

$10,623,133

Up $638,694 (+6.4%) from 2017

Net Assets

Up

$8,955,919

Up $713,220 (+8.7%) from 2017

Liabilities

Down

$1,667,214

Down $74,526 (-4.3%) from 2017

Revenue And Expenses
Liabilities / Revenue79th percentileNet Margin68th percentile

Revenue

Up

$1,756,539

Up $305,641 (+21%) from 2017

Expenses

Up

$1,569,485

Up $379,736 (+32%) from 2017

Net Income

Down

$187,054

Down $74,095 (-28%) from 2017

Historical Trend

Balance Sheet Trend

Asset Growth66th 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

2018

Assets$10,623,133
Liabilities$1,667,214
Net Assets$8,955,919
Open 2018 Filing

Operations Trend

Revenue Growth78th 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

2018

Revenue$1,756,539
Expenses$1,569,485
Net Income$187,054
Open 2018 Filing
Jump To
Filing Snapshot
Filing Period
Jul 1, 2017 to Jun 30, 2018
Signed
Oct 22, 2018
Return Version
2017v2.3
Gross Receipts
$1,773,865
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 organization provides scholarships to students attending central lakes college

Balance Sheet Detail
LineBeginningEndChange
Assets
Investments in Publicly Traded Securities$7,670,808$8,332,991▲ $662,183
Land, Buildings, and Equipment, Net$2,104,153$2,135,960▲ $31,807
Cash and Non-Interest-Bearing Accounts$136,664$93,964▼ $42,700
Accounts Receivable$56,866$44,093▼ $12,773
Intangible Assets$10,790$10,229▼ $561
Prepaid Expenses and Deferred Charges$5,158$5,896▲ $738
Total Assets$9,984,439$10,623,133▲ $638,694
Liabilities
Mortgage Notes Payable Secured by Investment Property$1,659,550$1,595,320▼ $64,230
Accounts Payable and Accrued Expenses$48,633$36,180▼ $12,453
Other Liabilities$32,725$33,319▲ $594
Deferred Revenue$832$2,395▲ $1,563
Total Liabilities$1,741,740$1,667,214▼ $74,526
Net Assets / Fund Balance
Permanently Rstr Net Assets$6,737,124$6,924,540▲ $187,416
Unrestricted Net Assets$1,085,943$1,434,354▲ $348,411
Temporarily Rstr Net Assets$419,632$597,025▲ $177,393
Total Net Assets Fund Balance$8,242,699$8,955,919▲ $713,220
Total Liabilities and Net Assets / Fund Balance$9,984,439$10,623,133▲ $638,694

Asset Categories

AssetBook ValueDepreciationBasis
Buildings$1,748,361$78,328$1,826,689
Land$363,400-$363,400
Equipment$24,199$26,016$50,215

Endowment Activity

PeriodBeginningContrib.Gain/LossOther UsesEnd
2017$6,737,124$187,416--$6,924,540
2016$6,338,611$398,513--$6,737,124
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
Compensation and Service Providers
Top Officer Pay12th percentile

Board Members and Trustees

NameTitle
J Bradley PersonPresident
Brad ChapulisDirector
Dustin GoslinDirector
Jim BensonDirector
John OhlinDirector
Kevin DonnayDirector
Lisa WigandDirector
PAM O'ROURKEDirector
Richard BreenDirector
Sherrie ChristensenDirector
Steve WenzelDirector
Barbara AndersonSecretary
Tracie McfarlinTreasurer
Nathan HamiltonVice Preside
Revenue and Support

Revenue Composition

Contributions and Grants
$1,101,807
Program Service Revenue
$0
Investment Income
$164,577
Other Revenue
$490,155
All Other Contributions
$1,101,807
Change in Net Assets
$187,054

Noncash Contribution Practices

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

Noncash Contributions

Contribution TypeContribution CountReported AmountValuation Method
Other Non Cash Contri Table39$270,924Expert Opinion
Other Non Cash Contri Table19$53,562Expert Opinion
Other Non Cash Contri Table49$44,239Expert Opinion
Other Non Cash Contri Table27$14,460Expert and Comparable
Clothing and Household Goods-$8,401-
Drugs and Medical Supplies4$624Comparable Sales
Total Noncash Contributions138$392,210-

Audited Revenue Reconciliation

Revenue per Audited Statements
$1,756,539
Revenue Not Reported on Form 990
$543,492
Total Revenue per Audited Statements
$2,300,031
Total Revenue per Form 990
$1,756,539
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Grants and Similar Amounts Paid$1,016,853
Other Expenses$552,632
Professional Fundraising Fees$0
Salaries, Compensation, and Employee Benefits$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Grants to Domestic Orgs$1,016,853--$1,016,853
All Other Expenses$90,355$10,597-$100,952
Other Expenses$45,499$10,000-$55,499
Interest$50,458--$50,458
Depreciation Depletion$49,736$125-$49,861
Fees for Service Investment Mgmnt Fees-$48,358-$48,358
Fees for Services Management$28,000--$28,000
Fees for Services Accounting$3,186$8,079-$11,265
Insurance$9,370$1,371-$10,741
Information Technology$2,264$1,509-$3,773
Office Expenses$2,767$880-$3,647
Advertising$2,196$142-$2,338
Travel$388$1,804-$2,192
Fees for Services Legal$1,390--$1,390
Total Functional Expenses$1,486,620$82,865$0$1,569,485

Audited Expense Reconciliation

Line ItemAmount
Total Expenses per Audited Statements$1,586,811
Expenses per Audited Statements$1,569,485
Total Expenses per Form 990$1,569,485
Expenses Not Reported on Form 990$17,326
International Activity

Grant and Assistance Recipients

RecipientLocationCategoryPurposeAmount
Central Lakes CollegeBrainerd, MN-Funding for Scholars$624,643
Central Lakes CollegeBrainerd, MN-Funding for College-
Fundraising, Events, and Gaming
Fundraising activities
Yes
Gaming activities
No
Professional fundraiser used
No

Fundraising and Gaming Totals

Line ItemAmount
Fundraising Gross Income$32,733
Fundraising Direct Expenses$17,326
Professional Fundraising Fees$0

Fundraising Events

EventGross ReceiptsGross RevenueDirect ExpensesNet Income
Annual Event$32,733$32,733$17,326$15,407
Total Events$32,733$32,733$17,326$15,407
Political and Lobbying Activity
Political campaign activity
No
Lobbying activity
No
Subject to proxy tax
No
Debt and Bond Financing

Other Reported Liabilities

LiabilityAmount
Security Deposits$30,662
Accrued Interest$2,657
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
Yes
Key decisions subject to board approval
No
Management duties delegated
No

Governance Explanations

Form 990, Page 6, Part VI, Line 9

“Nathan hamilton 523 north third street brainerd, mn 56401 barbara anderson 14 second street se crosby, mn 56441 tracie mcfarlin 18650 county road 24 brainerd, mn 56401 j. Bradley person 124 n 6th street brainerd, mn 56401”

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

“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, Page 6, Part VI, Line 12C

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

Form 990, Page 6, Part VI, Line 19

“The organization makes is governance documents and financial statements available 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
Phone
2188558129
Signed
2018-10-22
Discuss with paid preparer
Yes

Organization Details

Principal Officer
J Bradley Person
Formed
1968
Legal Domicile
Mn
Voting Board Members
14
Independent Board Members
14
Employees
0
Volunteers
50

Preparer

Firm
Justin Clasen & Company Ltd
Address
PO BOX 90, PEQUOT LAKES, MN 56472-0090
Preparer
Christopher M Clasen
Phone
2185685242
Supplemental Narrative

Additional Explanations

Form 990, Part XI, Line 9

“Addback fundraising expense 17,326 subtract fundraising expense -17,326”

Financial Statement Notes

Schedule D, Page 2, Part V, Line 4

“Investment earnings from endowment funds are used to provide scholarships to students attending central lakes college.”

Schedule D, Page 3, Part X

“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 year. The foundation files internal revenue service form 990 annually with the federal government.”

Schedule D, Page 4, Part XI, Line 2D

“Addback fundraising expense 17,326”

Schedule D, Page 4, Part XII, Line 2D

“Subtract fundraising expense 17,326”

Raw XML AppendixShowing 400 of 546 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/TitleTxt4DIRECTOR
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IRS990/PrincipalOfficerNm0J BRADLEY PERSON
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IRS990ScheduleA/CollegeOrganizationInd0X
IRS990ScheduleA/Form990ScheduleAPartVIGrp/ExplanationTxt0ANNUAL EVENT 78,994
IRS990ScheduleA/Form990ScheduleAPartVIGrp/FormAndLineReferenceDesc0PART II, LINE 10
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IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/CurrentTaxYearMinus3YearsAmt0443605
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IRS990ScheduleA/TotalSupportAmt04999140
IRS990/ScheduleBRequiredInd0true
IRS990ScheduleD/BuildingsGrp/BookValueAmt01748361
IRS990ScheduleD/BuildingsGrp/DepreciationAmt078328
IRS990ScheduleD/BuildingsGrp/OtherCostOrOtherBasisAmt01826689
IRS990ScheduleD/CYEndwmtFundGrp/BeginningYearBalanceAmt06737124
IRS990ScheduleD/CYEndwmtFundGrp/ContributionsAmt0187416
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IRS990ScheduleD/CYMinus4YrEndwmtFundGrp/ContributionsAmt0105233
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IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt0INVESTMENT EARNINGS FROM ENDOWMENT FUNDS ARE USED TO PROVIDE SCHOLARSHIPS TO STUDENTS ATTENDING CENTRAL LAKES COLLEGE.
IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt1THE 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 YEAR. THE FOUNDATION FILES INTERNAL REVENUE SERVICE FORM 990 ANNUALLY WITH THE FEDERAL GOVERNMENT.
IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt2ADDBACK FUNDRAISING EXPENSE 17,326
IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt3SUBTRACT FUNDRAISING EXPENSE 17,326
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc0SCHEDULE D, PAGE 2, PART V, LINE 4
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc1SCHEDULE D, PAGE 3, PART X
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc2SCHEDULE D, PAGE 4, PART XI, LINE 2D
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc3SCHEDULE D, PAGE 4, PART XII, LINE 2D
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Document Assets

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Filings

Displayed year

2018 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$10,623,133
Liabilities
$1,667,214
Net assets
$8,955,919
Revenue
$1,756,539
Expenses
$1,569,485
Net income
$187,054
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