Civic Intelligence

Lancaster Endowment Fund School Association

990 • Fiscal year 2024 • EIN 32-0744204

Jan 01, 2024 to Dec 31, 2024 • Filed on May 12, 2025

Organization ProfileWWW.LANCASTER.K12.MN.US/ACTIVITIES-ATHLETICS/LEFS
401 Central Ave SLancaster, MN 56735

(218) 762-5400

Siviq Scores

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

Liabilities / Assets

75th percentile

0.00x

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

2024 filings • NTEE B11 • <$500k nonprofits • Source year 2024

Liabilities / Revenue

75th percentile

0.00x

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

2024 filings • NTEE B11 • <$500k nonprofits • Source year 2024

Net Margin

98th percentile

99%

Higher net margin than 98% of similar nonprofits.

2024 filings • NTEE B11 • <$500k nonprofits • Source year 2024

Top Officer Pay

97th percentile

$0

Higher top officer pay than 97% of similar nonprofits.

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

2024 filings • NTEE B11 • <$500k nonprofits • Source year 2024

Asset Growth

Score unavailable

No value available

No earlier valid filing was available within the previous three public years.

Source year 2024

Revenue Growth

Score unavailable

No value available

No earlier valid filing was available within the previous three public years.

Source year 2024

Balance Sheet
Liabilities / Assets75th percentile

Assets

$224,498

No earlier filing loaded for comparison.

Net Assets

$224,498

No earlier filing loaded for comparison.

Liabilities

$0

No earlier filing loaded for comparison.

Revenue And Expenses
Liabilities / Revenue75th percentileNet Margin98th percentile

Revenue

$208,471

No earlier filing loaded for comparison.

Expenses

$2,659

No earlier filing loaded for comparison.

Net Income

$205,812

No earlier filing loaded for comparison.

Historical Trend

Balance Sheet Trend

Asset GrowthScore unavailable

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

$300K$200K$100K$0Assets 2024: $224,498Liabilities 2024: $0Net Assets 2024: $224,4982024

Highlighted filing

2024

Assets$224,498
Liabilities$0
Net Assets$224,498
Open 2024 Filing

Operations Trend

Revenue GrowthScore unavailable

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

$300K$200K$100K$0Revenue 2024: $208,471Expenses 2024: $2,659Net Income 2024: $205,8122024

Highlighted filing

2024

Revenue$208,471
Expenses$2,659
Net Income$205,812
Open 2024 Filing
Jump To
Filing Snapshot
Filing Period
Jan 1, 2024 to Dec 31, 2024
Signed
May 12, 2025
Return Version
2024v5.1
Gross Receipts
$208,471
Mission and Program Overview

Mission

To provide an ongoing source of additional non-taxpayer discretionary funds to lancaster school (minnesota independent district #356) via an endowment which is intended to be perpetual in nature.

Balance Sheet Detail
LineBeginningEndChange
Assets
Rtn Earn Endowment Incm Other Fnds$100$224,498▲ $224,398
Investments in Publicly Traded Securities-$201,445-
Savings and Temporary Cash Investments-$11,996-
Cash and Non-Interest-Bearing Accounts$100$11,057▲ $10,957
Pd in Cap Srpls Land Bldg Eqp Fund$0$0→ $0
Cap Stk Tr Prin Current Funds$0$0→ $0
Total Assets$100$224,498▲ $224,398
Liabilities
Total Liabilities$0$0→ $0
Net Assets / Fund Balance
Total Net Assets Fund Balance$100$224,498▲ $224,398
Total Liabilities and Net Assets / Fund Balance$100$224,498▲ $224,398
Compensation and Service Providers
Top Officer Pay97th percentile

Board Members and Trustees

NameTitle
Nicole ThompsonPresident
Clifford PetersonVice President
Jesse StregeDirector
Julie PetersonDirector
Justin PetersonDirector
Lacey LupienDirector
Shannon BowlinDirector
Melinda CoffieldSecretary
Sarah SchmalzTreasurer
Revenue and Support

Revenue Composition

Contributions and Grants
$195,026
Program Service Revenue
$0
Investment Income
$11,855
Other Revenue
$1,590
All Other Contributions
$191,430
Change in Net Assets
$205,812
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$2,659
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
Advertising$1,445--$1,445
Office Expenses$1,160--$1,160
Other Expenses$54--$54
Total Functional Expenses$2,659$0$0$2,659
Fundraising, Events, and Gaming
Fundraising activities
No
Gaming activities
No
Professional fundraiser used
No

Fundraising and Gaming Totals

Line ItemAmount
Fundraising Gross Income$1,590
Fundraising Direct Expenses$0
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
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
No
Audited financial statements prepared
No
Key decisions subject to board approval
No
Management duties delegated
No

Governance Explanations

Form 990, Part VI, Section A, Line 6

“Solicitation of lefsa membership is aimed at all members of the greater lancaster community and all former graduates of the lancaster school no matter where they are located. Minimum contribution amounts (dues) to qualify a person to be a voting member of lefsa is $25.”

Form 990, Part VI, Section A, Line 7A

“Lefsa has 9 members of its governing board who are elected from among the general membership at the annual membership meeting.”

Form 990, Part VI, Section A, Line 8B

“Minutes are taken at each meeting. Handouts are given at each meeting with the secretary's and treasurer's reports.”

Form 990, Part VI, Section B, Line 11B

“A copy of the form 990 is made available to all board members at the annual board meeting as scheduled in the bylaws.”

Form 990, Part VI, Section C, Line 19

“The organization's governing documents, conflict of interest policies and financial statements are available on the organization's website: www.lancaster.k12.mn.us/activities-athletics/lefsa, or upon request from the organization officers.”

Filing and Contact Details

Filer

Filer Name
Lancaster Endowment Fund School Associat
EIN
32-0744204
Phone
2187625400
Address
401 CENTRAL AVE S, LANCASTER, MN 56735

Signing Officer

Name
Sarah Schmalz
Title
Treasurer
Phone
2187625400
Signed
2025-05-12
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Sarah Schmalz
Formed
2023
Legal Domicile
Mn
Voting Board Members
9
Independent Board Members
9
Employees
0
Volunteers
15

Preparer

Firm
Agcountry Farm Credit Services
Address
4350 32ND AVE S, GRAND FORKS, ND 58201
Preparer
Chelsi Langehaug CPA
Phone
7017753193
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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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IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0SOLICITATION OF LEFSA MEMBERSHIP IS AIMED AT ALL MEMBERS OF THE GREATER LANCASTER COMMUNITY AND ALL FORMER GRADUATES OF THE LANCASTER SCHOOL NO MATTER WHERE THEY ARE LOCATED. MINIMUM CONTRIBUTION AMOUNTS (DUES) TO QUALIFY A PERSON TO BE A VOTING MEMBER OF LEFSA IS $25.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1LEFSA HAS 9 MEMBERS OF ITS GOVERNING BOARD WHO ARE ELECTED FROM AMONG THE GENERAL MEMBERSHIP AT THE ANNUAL MEMBERSHIP MEETING.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2MINUTES ARE TAKEN AT EACH MEETING. HANDOUTS ARE GIVEN AT EACH MEETING WITH THE SECRETARY'S AND TREASURER'S REPORTS.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3A COPY OF THE FORM 990 IS MADE AVAILABLE TO ALL BOARD MEMBERS AT THE ANNUAL BOARD MEETING AS SCHEDULED IN THE BYLAWS.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt4THE ORGANIZATION'S GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICIES AND FINANCIAL STATEMENTS ARE AVAILABLE ON THE ORGANIZATION'S WEBSITE: WWW.LANCASTER.K12.MN.US/ACTIVITIES-ATHLETICS/LEFSA, OR UPON REQUEST FROM THE ORGANIZATION OFFICERS.
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0FORM 990, PART VI, SECTION A, LINE 6
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1FORM 990, PART VI, SECTION A, LINE 7A
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2FORM 990, PART VI, SECTION A, LINE 8B
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3FORM 990, PART VI, SECTION B, LINE 11B
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc4FORM 990, PART VI, SECTION C, LINE 19
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ReturnHeader/Filer/BusinessName/BusinessNameLine1Txt0LANCASTER ENDOWMENT FUND SCHOOL ASSOCIAT
ReturnHeader/Filer/BusinessNameControlTxt0LANC
ReturnHeader/Filer/EIN0320744204
ReturnHeader/Filer/PhoneNum02187625400
ReturnHeader/Filer/USAddress/AddressLine1Txt0401 CENTRAL AVE S
ReturnHeader/Filer/USAddress/CityNm0LANCASTER
ReturnHeader/Filer/USAddress/StateAbbreviationCd0MN
ReturnHeader/Filer/USAddress/ZIPCd056735
ReturnHeader/IRSResponsiblePrtyInfoCurrInd00
ReturnHeader/PreparerFirmGrp/PreparerFirmEIN0450455254
ReturnHeader/PreparerFirmGrp/PreparerFirmName/BusinessNameLine1Txt0AGCOUNTRY FARM CREDIT SERVICES
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/AddressLine1Txt04350 32ND AVE S
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/CityNm0GRAND FORKS
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/StateAbbreviationCd0ND
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/ZIPCd058201
ReturnHeader/PreparerPersonGrp/PhoneNum07017753193
ReturnHeader/PreparerPersonGrp/PreparerPersonNm0CHELSI LANGEHAUG CPA
ReturnHeader/ReturnTs02025-05-12T13:09:27-05:00
ReturnHeader/ReturnTypeCd0990
ReturnHeader/TaxPeriodBeginDt02024-01-01
ReturnHeader/TaxPeriodEndDt02024-12-31
ReturnHeader/TaxYr02024

Document Assets

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Filings

Displayed year

2024 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$224,498
Liabilities
$0
Net assets
$224,498
Revenue
$208,471
Expenses
$2,659
Net income
$205,812
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Detailed filing. Detailed filing data is available for this year.$2.24$0.00$2.24$2.08$0.03$2.06