Civic Intelligence

Waldorf Lutheran College

EIN 27-4358184 • 501(c)3 • Forest City, IA

Profile

The exempt purpose of the waldorf lutheran college foundation, inc. Is to provide financial support to waldorf university and to provide scholarships to students of waldorf university.

116 East I StreetForest City, IA 50436

www.waldorffoundation.org

Siviq Scores

Precomputed percentiles relative to similar nonprofits. These scores are descriptive rather than judgmental.

Liabilities / Assets

23rd percentile

0.01x

Higher debt load relative to assets than 23% of similar nonprofits.

501(c)3 • $5M-$10M nonprofits • Source year 2022

Liabilities / Revenue

31st percentile

0.06x

Higher debt load relative to revenue than 31% of similar nonprofits.

501(c)3 • $5M-$10M nonprofits • Source year 2022

Net Margin

93rd percentile

65%

Higher net margin than 93% of similar nonprofits.

501(c)3 • $5M-$10M nonprofits • Source year 2022

Top Officer Pay

Score unavailable

No value available

No filing with officer rows is available for this organization yet.

Asset Growth

50th percentile

4.9%

Faster asset growth than 50% of similar nonprofits.

501(c)3 • $5M-$10M nonprofits • Annualized from 2021 to 2022

Revenue Growth

95th percentile

156%

Faster revenue growth than 95% of similar nonprofits.

501(c)3 • $5M-$10M nonprofits • Annualized from 2021 to 2022

Assets

Down

$27,600,248

Down $161,910 (-0.6%) from 2023

Liabilities

Down

$10,240,671

Down $2,071,058 (-17%) from 2023

Net Assets

Up

$17,359,577

Up $1,909,148 (+12%) from 2023

Revenue

Up

$26,470,392

Up $1,381,217 (+5.5%) from 2023

Expenses

Up

$25,143,367

Up $2,779,527 (+12%) from 2023

Net Income

Down

$1,327,025

Down $1,398,310 (-51%) from 2023

Trend Graphs

Balance Sheet Trend

Grouped bars show assets, liabilities, and net assets across loaded filings.

$30M$20M$10M$0Assets 2013: $2,044,273Liabilities 2013: $0Net Assets 2013: $2,044,2732013Assets 2014: $2,516,044Liabilities 2014: $0Net Assets 2014: $2,516,0442014Assets 2015: $2,690,438Liabilities 2015: $0Net Assets 2015: $2,690,4382015Assets 2016: $2,805,528Liabilities 2016: $0Net Assets 2016: $2,805,5282016Assets 2017: $3,933,558Liabilities 2017: $0Net Assets 2017: $3,933,5582017Assets 2018: $4,251,505Liabilities 2018: $0Net Assets 2018: $4,251,5052018Assets 2019: $4,562,980Liabilities 2019: $0Net Assets 2019: $4,562,9802019Assets 2020: $4,793,384Liabilities 2020: $0Net Assets 2020: $4,793,3842020Assets 2021: $5,794,759Liabilities 2021: $0Net Assets 2021: $5,794,7592021Assets 2022: $6,080,607Liabilities 2022: $85,168Net Assets 2022: $5,995,4392022Assets 2023: $27,762,158Liabilities 2023: $12,311,729Net Assets 2023: $15,450,4292023Assets 2024: $27,600,248Liabilities 2024: $10,240,671Net Assets 2024: $17,359,5772024

Highlighted filing

2024

Assets$27,600,248
Liabilities$10,240,671
Net Assets$17,359,577

Operations Trend

Revenue, expenses, and net income by year, with the latest filing highlighted.

$30M$20M$10M$0Expenses 2013: $109,7912013Revenue 2014: $705,466Expenses 2014: $233,695Net Income 2014: $471,7712014Revenue 2015: $582,643Expenses 2015: $391,970Net Income 2015: $190,6732015Revenue 2016: $481,928Expenses 2016: $290,541Net Income 2016: $191,3872016Revenue 2017: $1,201,479Expenses 2017: $273,420Net Income 2017: $928,0592017Revenue 2018: $700,281Expenses 2018: $345,741Net Income 2018: $354,5402018Revenue 2019: $743,672Expenses 2019: $361,630Net Income 2019: $382,0422019Revenue 2020: $365,532Expenses 2020: $158,501Net Income 2020: $207,0312020Revenue 2021: $511,049Expenses 2021: $444,998Net Income 2021: $66,0512021Revenue 2022: $1,310,424Expenses 2022: $456,173Net Income 2022: $854,2512022Revenue 2023: $25,089,175Expenses 2023: $22,363,840Net Income 2023: $2,725,3352023Revenue 2024: $26,470,392Expenses 2024: $25,143,367Net Income 2024: $1,327,0252024

Highlighted filing

2024

Revenue$26,470,392
Expenses$25,143,367
Net Income$1,327,025

Filings

Latest Filing Detail
Jump To
Filing Snapshot
Filing Period
Jul 1, 2023 to Jun 30, 2024
Signed
May 13, 2025
Return Version
2023v6.0
Gross Receipts
$26,470,392
Mission and Program Overview

Mission

The exempt purpose of the waldorf lutheran college foundation, inc. Is to provide financial support to waldorf university and to provide scholarships to students of waldorf university. It is also dedicated to provide educational programs and experiences for students.

Balance Sheet Detail
LineBeginningEndChange
Assets
Land, Buildings, and Equipment, Net$13,743,287$13,757,862▲ $14,575
Investments in Publicly Traded Securities$5,601,229$6,266,189▲ $664,960
Pledges and Grants Receivable$4,748,429$3,379,571▼ $1,368,858
Accounts Receivable$695,266$1,885,758▲ $1,190,492
Intangible Assets$1,161,212$1,081,776▼ $79,436
Cash and Non-Interest-Bearing Accounts$1,521,319$870,952▼ $650,367
Prepaid Expenses and Deferred Charges$106,729$200,164▲ $93,435
Inventories for Sale or Use$184,687$157,976▼ $26,711
Total Assets$27,762,158$27,600,248▼ $161,910
Liabilities
Unsecured Notes Loans Payable$6,396,976$5,866,085▼ $530,891
Other Liabilities$5,299,050$3,886,016▼ $1,413,034
Accounts Payable and Accrued Expenses$615,703$488,570▼ $127,133
Total Liabilities$12,311,729$10,240,671▼ $2,071,058
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$10,443,469$12,096,973▲ $1,653,504
Net Assets With Donor Restrictions$5,006,960$5,262,604▲ $255,644
Total Net Assets Fund Balance$15,450,429$17,359,577▲ $1,909,148
Total Liabilities and Net Assets / Fund Balance$27,762,158$27,600,248▼ $161,910

Asset Categories

AssetBook ValueDepreciationBasis
Equipment$13,757,862$238,006$13,995,868

Endowment Activity

PeriodBeginningContrib.Gain/LossOther UsesEnd
2021$2,801,251$582,684▼ $289,697-$2,967,994
2020$2,344,930$25,123▲ $532,889-$2,801,251
2019$2,279,104$56,800▲ $16,110-$2,344,931
Compensation and Service Providers

Board Members and Trustees

NameTitle
David WeberChairman
Raymond BeebeChairman of
Randy JuhlVice Chairma
Brian SansgaardDirector
Cecilia HornerDirector
Daniel DantDirector
Karrie PringnitzDirector
Travis FinstadDirector
Ardrelle EvansTrustee
Denise HillTrustee
John HansonTrustee
Kristine MeyerTrustee
Richard GaumerTrustee
Terry FrazierTrustee
Don MeyerTrustee/dire
Rod HoppSecretary
Yolanda GallegosSecretary
Richard CorcoranTreasurer
Revenue and Support

Revenue Composition

Contributions and Grants
$1,708,103
Program Service Revenue
$24,422,331
Investment Income
$343,113
Other Revenue
$-3,155
All Other Contributions
$1,708,103
Change in Net Assets
$1,327,025

Audited Revenue Reconciliation

Revenue per Audited Statements
$26,470,392
Total Revenue per Audited Statements
$26,470,392
Total Revenue per Form 990
$26,470,392
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Salaries, Compensation, and Employee Benefits$15,429,487
Other Expenses$9,713,880
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages$12,394,054--$12,394,054
Payroll Taxes$3,035,433--$3,035,433
Advertising$1,279,160--$1,279,160
Travel$1,257,045--$1,257,045
Occupancy$1,026,383--$1,026,383
Fees for Services Accounting$681,239$54,835-$736,074
Insurance$652,054--$652,054
All Other Expenses$642,615$5,872-$648,487
Office Expenses$490,656--$490,656
Other Expenses$321,806--$321,806
Fees for Services Legal-$29,379-$29,379
Total Functional Expenses$25,053,281$90,086$0$25,143,367

Audited Expense Reconciliation

Line ItemAmount
Expenses per Audited Statements$25,143,367
Total Expenses per Audited Statements$25,143,367
Total Expenses per Form 990$25,143,367
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
Waldorf Other Current Liabilities$1,573,373
Waldorf Deposits on Hand$1,204,685
Waldorf Accrued Expenses$1,107,958
Governance and Compliance

Governance Checklist

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

Raymond beebe 3315 sage avenue forest city, ia 50436 richard corcoran 4904 twin ridge road sioux falls, sd 57117-5186 travis finstad 99 w south temple 1301 salt lake city, ut 84101 rod hopp 20587b hwy 9 e forest city, ia 50436 cecilia horner 3027 burnham ames, ia 50010 brian sansgaard 1208 park view drive story city, ia 50248 karrie pringnitz 480 w. Lyon st. Garner, ia 50438 daniel dant 1535 greenleaf rd owatonna, mn 55060 don meyer 1951 3rd st sw waverly, ia 50677 denise hill richard gaumer randy juhl terry frazier kristine meyer john hanson ardrelle evans david weber yolanda gallegos

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

The board members review and approve.

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

Conflict of interest policy is enforced by board. Any transactions subject to this policy are reviewed by the board.

Form 990, Page 6, Part VI, Line 19

Documents are available via the website or written request.

Filing and Contact Details

Filer

Filer Name
Waldorf Lutheran College
EIN
27-4358184
Address
116 EAST I STREET, FOREST CITY, IA 50436

Signing Officer

Name
Raymond Beebe
Title
Chairman of Board
Signed
2025-05-13
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Raymond Beebe
Formed
2011
Legal Domicile
Ia
Voting Board Members
18
Independent Board Members
18
Employees
672

Preparer

Firm
Dk Arndt Pc
Address
116 EAST I STREET, FOREST CITY, IA 50436-1760
Preparer
David K Arndt CPA
Phone
6415854631
Supplemental Narrative

Additional Explanations

FORM 990 - ORGANIZATION'S MISSION

The exempt purpose of the waldorf lutheran college foundation, inc. Is to provide financial support to waldorf university and to provide scholarships to students of waldorf university. It is also dedicated to provide educational programs and experiences for students.

Form 990, Page 1, Part I, Line 6

Form 990-organization's mission or most significant activities: the exempt purpose of the waldorf lutheran college foundation, inc. Is to provide financial support to waldorf university and to provide scholarships to students of waldorf university.

Form 990, Part XI, Line 9

Unrealized gain (loss) on assets unrestricted 206,042 unrealized gain (loss) on assets permanently restr 376,081 total 582,123

Form 990, Page 12, Part XII, Line 2C

The audited financial statements aren't presented to the board for its approval.

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IRS990/OtherExpensesGrp/Desc1WALDORF LICENSE & PERMITS
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IRS990/ReportOtherLiabilitiesInd0true
IRS990/ReportProgramRelatedInvstInd0false
IRS990ScheduleA/Form990ScheduleAPartVIGrp/ExplanationTxt0OTHER INCOME 14,520
IRS990ScheduleA/Form990ScheduleAPartVIGrp/FormAndLineReferenceDesc0PART II, LINE 10
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IRS990ScheduleA/GrossInvestmentIncome170Grp/CurrentTaxYearMinus3YearsAmt053109
IRS990ScheduleA/GrossInvestmentIncome170Grp/CurrentTaxYearMinus4YearsAmt099553
IRS990ScheduleA/GrossInvestmentIncome170Grp/TotalAmt0616245
IRS990ScheduleA/GrossReceiptsRltdActivitiesAmt042515697
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IRS990ScheduleA/OtherIncome170Grp/CurrentTaxYearMinus4YearsAmt07260
IRS990ScheduleA/OtherIncome170Grp/TotalAmt014520
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IRS990ScheduleA/PublicSupportPY170Pct00.94400
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IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc0WALDORF OTHER CURRENT LIABILITIES
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc1WALDORF DEPOSITS ON HAND
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc2WALDORF ACCRUED EXPENSES
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IRS990ScheduleD/TotalExpensesPerForm990Amt025143367
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IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0THE EXEMPT PURPOSE OF THE WALDORF LUTHERAN COLLEGE FOUNDATION, INC. IS TO PROVIDE FINANCIAL SUPPORT TO WALDORF UNIVERSITY AND TO PROVIDE SCHOLARSHIPS TO STUDENTS OF WALDORF UNIVERSITY. IT IS ALSO DEDICATED TO PROVIDE EDUCATIONAL PROGRAMS AND EXPERIENCES FOR STUDENTS.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1FORM 990-ORGANIZATION'S MISSION OR MOST SIGNIFICANT ACTIVITIES: THE EXEMPT PURPOSE OF THE WALDORF LUTHERAN COLLEGE FOUNDATION, INC. IS TO PROVIDE FINANCIAL SUPPORT TO WALDORF UNIVERSITY AND TO PROVIDE SCHOLARSHIPS TO STUDENTS OF WALDORF UNIVERSITY.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2RAYMOND BEEBE 3315 SAGE AVENUE FOREST CITY, IA 50436 RICHARD CORCORAN 4904 TWIN RIDGE ROAD SIOUX FALLS, SD 57117-5186 TRAVIS FINSTAD 99 W SOUTH TEMPLE 1301 SALT LAKE CITY, UT 84101 ROD HOPP 20587B HWY 9 E FOREST CITY, IA 50436 CECILIA HORNER 3027 BURNHAM AMES, IA 50010 BRIAN SANSGAARD 1208 PARK VIEW DRIVE STORY CITY, IA 50248 KARRIE PRINGNITZ 480 W. LYON ST. GARNER, IA 50438 DANIEL DANT 1535 GREENLEAF RD OWATONNA, MN 55060 DON MEYER 1951 3RD ST SW WAVERLY, IA 50677 DENISE HILL RICHARD GAUMER RANDY JUHL TERRY FRAZIER KRISTINE MEYER JOHN HANSON ARDRELLE EVANS DAVID WEBER YOLANDA GALLEGOS
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3THE BOARD MEMBERS REVIEW AND APPROVE.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt4CONFLICT OF INTEREST POLICY IS ENFORCED BY BOARD. ANY TRANSACTIONS SUBJECT TO THIS POLICY ARE REVIEWED BY THE BOARD.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt5DOCUMENTS ARE AVAILABLE VIA THE WEBSITE OR WRITTEN REQUEST.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt6UNREALIZED GAIN (LOSS) ON ASSETS UNRESTRICTED 206,042 UNREALIZED GAIN (LOSS) ON ASSETS PERMANENTLY RESTR 376,081 TOTAL 582,123
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt7THE AUDITED FINANCIAL STATEMENTS AREN'T PRESENTED TO THE BOARD FOR ITS APPROVAL.
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0FORM 990 - ORGANIZATION'S MISSION
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1FORM 990, PAGE 1, PART I, LINE 6
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2FORM 990, PAGE 6, PART VI, LINE 9
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3FORM 990, PAGE 6, PART VI, LINE 11B
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc4FORM 990, PAGE 6, PART VI, LINE 12C
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc5FORM 990, PAGE 6, PART VI, LINE 19
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc6FORM 990, PART XI, LINE 9
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc7FORM 990, PAGE 12, PART XII, LINE 2C
IRS990/SchoolOperatingInd0false

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