Civic Intelligence

Waldorf Lutheran College Foundation Inc.

990 • Fiscal year 2021 • EIN 27-4358184

Jun 01, 2020 to May 31, 2021 • Filed on Jul 23, 2021

Organization ProfileWWW.WALDORFFOUNDATION.ORG
116 East I StreetForest City, IA 50436

(641) 585-8142

Siviq Scores

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

Liabilities / Assets

8th percentile

0.00x

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

2021 filings • 501(c)3 • $5M-$10M nonprofits • Source year 2021

Liabilities / Revenue

8th percentile

0.00x

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

2021 filings • 501(c)3 • $5M-$10M nonprofits • Source year 2021

Net Margin

51st percentile

13%

Higher net margin than 51% of similar nonprofits.

2021 filings • 501(c)3 • $5M-$10M nonprofits • Source year 2021

Top Officer Pay

22nd percentile

$0

Higher top officer pay than 22% of similar nonprofits.

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

2021 filings • 501(c)3 • $5M-$10M nonprofits • Source year 2021

Asset Growth

71st percentile

21%

Faster asset growth than 71% of similar nonprofits.

2021 filings • 501(c)3 • $5M-$10M nonprofits • Annualized from 2020 to 2021

Revenue Growth

74th percentile

40%

Faster revenue growth than 74% of similar nonprofits.

2021 filings • 501(c)3 • $5M-$10M nonprofits • Annualized from 2020 to 2021

Balance Sheet
Liabilities / Assets8th percentile

Assets

Up

$5,794,759

Up $1,001,375 (+21%) from 2020

Net Assets

Up

$5,794,759

Up $1,001,375 (+21%) from 2020

Liabilities

Flat

$0

Flat from 2020

Revenue And Expenses
Liabilities / Revenue8th percentileNet Margin51st percentile

Revenue

Up

$511,049

Up $145,517 (+40%) from 2020

Expenses

Up

$444,998

Up $286,497 (+181%) from 2020

Net Income

Down

$66,051

Down $140,980 (-68%) from 2020

Historical Trend

Balance Sheet Trend

Asset Growth71st percentile

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

$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

2021

Assets$5,794,759
Liabilities$0
Net Assets$5,794,759
Open 2021 Filing

Operations Trend

Revenue Growth74th percentile

Revenue, expenses, and net income across loaded years, with this 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

2021

Revenue$511,049
Expenses$444,998
Net Income$66,051
Open 2021 Filing
Jump To
Filing Snapshot
Filing Period
Jun 1, 2020 to May 31, 2021
Signed
Jul 23, 2021
Return Version
2020v4.0
Gross Receipts
$3,337,619
Mission and Program Overview

Mission

SEE SCHEDULE O.

Balance Sheet Detail
LineBeginningEndChange
Assets
Investments in Publicly Traded Securities$4,425,828$5,574,308▲ $1,148,480
Cash and Non-Interest-Bearing Accounts$353,992$220,451▼ $133,541
Savings and Temporary Cash Investments$13,564--
Total Assets$4,793,384$5,794,759▲ $1,001,375
Liabilities
Total Liabilities$0$0→ $0
Net Assets / Fund Balance
Net Assets With Donor Restrictions$3,145,291$3,520,201▲ $374,910
Net Assets Without Donor Restrictions$1,648,093$2,274,558▲ $626,465
Total Net Assets Fund Balance$4,793,384$5,794,759▲ $1,001,375
Total Liabilities and Net Assets / Fund Balance$4,793,384$5,794,759▲ $1,001,375

Asset Categories

AssetBook ValueDepreciationBasis
Equipment-$14,425$14,425

Endowment Activity

PeriodBeginningContrib.Gain/LossOther UsesEnd
2019$2,279,104$56,800▲ $16,110-$2,344,931
2018$2,048,250$232,280▲ $16,751-$2,279,104
2017$1,776,699$272,280▲ $69,024-$2,048,250
2016$870,608$845,209▲ $107,691-$1,775,369
Compensation and Service Providers
Top Officer Pay22nd percentile

Board Members and Trustees

NameTitle
Raymond BeebeChairman of
Brian SansgaardDirector
Cecilia HornerDirector
Daniel DantDirector
Karrie PringnitzDirector
Rod HoppDirector
Travis FinstadDirector
Richard CorcoranTreasurer
Revenue and Support

Revenue Composition

Contributions and Grants
$290,775
Program Service Revenue
$0
Investment Income
$213,014
Other Revenue
$7,260
All Other Contributions
$290,775
Change in Net Assets
$66,051
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$331,391
Salaries, Compensation, and Employee Benefits$113,607
Total Fundraising Expense$72,936
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages$3,547$55,030$55,030$113,607
Office Expenses-$12,040$13,711$25,751
Fees for Services Accounting-$11,895-$11,895
Travel$1,049-$4,195$5,244
Other Expenses$281,762$1,285-$1,285
Occupancy-$9-$9
Total Functional Expenses$286,358$85,704$72,936$444,998
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
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, 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”

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
2021-07-23
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Raymond Beebe
Formed
2011
Legal Domicile
Ia
Voting Board Members
8
Independent Board Members
8
Employees
0

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, 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 504,126 unrealized gain (loss) on assets endowment 431,198 total 935,324”

Raw XML Appendix366 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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IRS990ScheduleD/EquipmentGrp/OtherCostOrOtherBasisAmt014425
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IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0FORM 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/ExplanationTxt1RAYMOND 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
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2THE BOARD MEMBERS REVIEW AND APPROVE.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3CONFLICT OF INTEREST POLICY IS ENFORCED BY BOARD. ANY TRANSACTIONS SUBJECT TO THIS POLICY ARE REVIEWED BY THE BOARD.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt4DOCUMENTS ARE AVAILABLE VIA THE WEBSITE OR WRITTEN REQUEST.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt5UNREALIZED GAIN (LOSS) ON ASSETS UNRESTRICTED 504,126 UNREALIZED GAIN (LOSS) ON ASSETS ENDOWMENT 431,198 TOTAL 935,324
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0FORM 990, PAGE 1, PART I, LINE 6
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1FORM 990, PAGE 6, PART VI, LINE 9
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 19
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc5FORM 990, PART XI, LINE 9
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IRS990/USAddress/AddressLine1Txt03315 SAGE AVENUE
IRS990/USAddress/CityNm0FOREST CITY
IRS990/USAddress/StateAbbreviationCd0IA
IRS990/USAddress/ZIPCd050436
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IRS990/WebsiteAddressTxt0WWW.WALDORFFOUNDATION.ORG
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ReturnHeader/BuildTS02022-09-23 18:48:47Z
ReturnHeader/BusinessOfficerGrp/DiscussWithPaidPreparerInd0true
ReturnHeader/BusinessOfficerGrp/PersonNm0RAYMOND BEEBE
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0CHAIRMAN OF BOARD
ReturnHeader/BusinessOfficerGrp/SignatureDt02021-07-23
ReturnHeader/Filer/BusinessName/BusinessNameLine1Txt0WALDORF LUTHERAN COLLEGE
ReturnHeader/Filer/BusinessName/BusinessNameLine2Txt0FOUNDATION INC
ReturnHeader/Filer/BusinessNameControlTxt0WALD
ReturnHeader/Filer/EIN0274358184
ReturnHeader/Filer/USAddress/AddressLine1Txt0116 EAST I STREET
ReturnHeader/Filer/USAddress/CityNm0FOREST CITY
ReturnHeader/Filer/USAddress/StateAbbreviationCd0IA
ReturnHeader/Filer/USAddress/ZIPCd050436
ReturnHeader/PreparerFirmGrp/PreparerFirmEIN0421462004
ReturnHeader/PreparerFirmGrp/PreparerFirmName/BusinessNameLine1Txt0DK ARNDT PC
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/AddressLine1Txt0116 EAST I STREET
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/CityNm0FOREST CITY
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/StateAbbreviationCd0IA
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/ZIPCd0504361760
ReturnHeader/PreparerPersonGrp/PhoneNum06415854631
ReturnHeader/PreparerPersonGrp/PreparationDt02021-07-22
ReturnHeader/PreparerPersonGrp/PreparerPersonNm0DAVID K ARNDT CPA
ReturnHeader/ReturnTs02021-07-23T11:15:56-05:00
ReturnHeader/ReturnTypeCd0990
ReturnHeader/SigningOfficerGrp/PersonFullName/PersonFirstNm0RAYMOND
ReturnHeader/SigningOfficerGrp/PersonFullName/PersonLastNm0BEEBE
ReturnHeader/TaxPeriodBeginDt02020-06-01
ReturnHeader/TaxPeriodEndDt02021-05-31
ReturnHeader/TaxYr02020

Document Assets

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Filings

Displayed year

2021 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$5,794,759
Liabilities
$0
Net assets
$5,794,759
Revenue
$511,049
Expenses
$444,998
Net income
$66,051
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Detailed filing. Detailed filing data is available for this year.$27.6$10.2$17.4$26.5$25.1$1.33
2023Detailed filing. Detailed filing data is available for this year.$27.8$12.3$15.5$25.1$22.4$2.73
2022Detailed filing. Detailed filing data is available for this year.$6.08$0.09$6.00$1.31$0.46$0.85
2021Detailed filing. Detailed filing data is available for this year.$5.79$0.00$5.79$0.51$0.44$0.07
2020Detailed filing. Detailed filing data is available for this year.$4.79$0.00$4.79$0.37$0.16$0.21
2019Detailed filing. Detailed filing data is available for this year.$4.56$0.00$4.56$0.74$0.36$0.38
2018Detailed filing. Detailed filing data is available for this year.$4.25$0.00$4.25$0.70$0.35$0.35
2017Detailed filing. Detailed filing data is available for this year.$3.93$0.00$3.93$1.20$0.27$0.93
2016Detailed filing. Detailed filing data is available for this year.$2.81$0.00$2.81$0.48$0.29$0.19
2015Detailed filing. Detailed filing data is available for this year.$2.69$0.00$2.69$0.58$0.39$0.19
2014Detailed filing. Detailed filing data is available for this year.$2.52$0.00$2.52$0.71$0.23$0.47
2013Facts available. Structured filing facts are available, but richer extracted sections are limited.$2.04$0.00$2.04$0.11