Civic Intelligence

Lake Superior College Foundation Inc.

990 • Fiscal year 2014 • EIN 36-3257072

Jul 01, 2013 to Jun 30, 2014 • Filed on Dec 02, 2014

Organization ProfileWWW.LSC.EDU/FOUNDATION
2101 Trinity Road55811

(218) 733-7680

Siviq Scores

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

Liabilities / Assets

36th percentile

0.04x

Higher debt load relative to assets than 36% of similar nonprofits.

2014 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2014

Liabilities / Revenue

39th percentile

0.06x

Higher debt load relative to revenue than 39% of similar nonprofits.

2014 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2014

Net Margin

42nd percentile

0.4%

Higher net margin than 42% of similar nonprofits.

2014 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2014

Top Officer Pay

34th percentile

$0

Higher top officer pay than 34% of similar nonprofits.

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

2014 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2014

Asset Growth

67th percentile

8.1%

Faster asset growth than 67% of similar nonprofits.

2014 filings • 501(c)3 • $1M-$5M nonprofits • Annualized from 2013 to 2014

Revenue Growth

Score unavailable

No value available

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

Source year 2014

Balance Sheet
Liabilities / Assets36th percentile

Assets

Up

$1,015,283

Up $76,134 (+8.1%) from 2013

Net Assets

Up

$976,796

Up $76,249 (+8.5%) from 2013

Liabilities

Down

$38,487

Down $115 (-0.3%) from 2013

Revenue And Expenses
Liabilities / Revenue39th percentileNet Margin42nd percentile

Revenue

$614,196

No earlier filing loaded for comparison.

Expenses

Up

$611,745

Up $122,050 (+25%) from 2013

Net Income

$2,451

No earlier filing loaded for comparison.

Historical Trend

Balance Sheet Trend

Asset Growth67th percentile

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

$3.0M$2.0M$1.0M$0Assets 2011: $837,457Liabilities 2011: $22,169Net Assets 2011: $815,2882011Assets 2012: $863,782Liabilities 2012: $22,171Net Assets 2012: $841,6112012Assets 2013: $939,149Liabilities 2013: $38,602Net Assets 2013: $900,5472013Assets 2014: $1,015,283Liabilities 2014: $38,487Net Assets 2014: $976,7962014Assets 2015: $980,997Liabilities 2015: $33,500Net Assets 2015: $947,4972015Assets 2016: $971,624Liabilities 2016: $0Net Assets 2016: $971,6242016Assets 2017: $1,171,496Liabilities 2017: $0Net Assets 2017: $1,171,4962017Assets 2018: $1,061,099Liabilities 2018: $0Net Assets 2018: $1,061,0992018Assets 2019: $1,238,788Liabilities 2019: $0Net Assets 2019: $1,238,7882019Assets 2020: $1,144,944Liabilities 2020: $42,280Net Assets 2020: $1,102,6642020Assets 2021: $1,360,272Liabilities 2021: $0Net Assets 2021: $1,360,2722021Assets 2022: $1,963,501Liabilities 2022: $0Net Assets 2022: $1,963,5012022Assets 2023: $1,942,328Liabilities 2023: $0Net Assets 2023: $1,942,3282023Assets 2024: $2,107,008Liabilities 2024: $573Net Assets 2024: $2,106,4352024

Highlighted filing

2014

Assets$1,015,283
Liabilities$38,487
Net Assets$976,796
Open 2014 Filing

Operations Trend

Revenue GrowthScore unavailable

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

$1.5M$1.0M$500K$0-$500KExpenses 2011: $472,1962011Expenses 2012: $521,1862012Expenses 2013: $489,6952013Revenue 2014: $614,196Expenses 2014: $611,745Net Income 2014: $2,4512014Revenue 2015: $677,631Expenses 2015: $852,337Net Income 2015: -$174,7062015Revenue 2016: $663,955Expenses 2016: $585,057Net Income 2016: $78,8982016Revenue 2017: $792,608Expenses 2017: $715,949Net Income 2017: $76,6592017Revenue 2018: $700,336Expenses 2018: $813,482Net Income 2018: -$113,1462018Revenue 2019: $718,686Expenses 2019: $740,845Net Income 2019: -$22,1592019Revenue 2020: $406,478Expenses 2020: $514,062Net Income 2020: -$107,5842020Revenue 2021: $513,738Expenses 2021: $454,876Net Income 2021: $58,8622021Revenue 2022: $1,136,101Expenses 2022: $390,916Net Income 2022: $745,1852022Revenue 2023: $389,549Expenses 2023: $482,487Net Income 2023: -$92,9382023Revenue 2024: $579,900Expenses 2024: $623,491Net Income 2024: -$43,5912024

Highlighted filing

2014

Revenue$614,196
Expenses$611,745
Net Income$2,451
Open 2014 Filing
Jump To
Filing Snapshot
Filing Period
Jul 1, 2013 to Jun 30, 2014
Signed
Dec 2, 2014
Return Version
2013v3.1
Gross Receipts
$628,601
Mission and Program Overview

Mission

Provide finacial support to promote the educational, cultural, scientific, and charitable activities of lake superior college in duluth, mn.

Balance Sheet Detail
LineBeginningEndChange
Assets
Investments in Publicly Traded Securities$788,289$975,497▲ $187,208
Cash and Non-Interest-Bearing Accounts$150,860$39,786▼ $111,074
Total Assets$939,149$1,015,283▲ $76,134
Liabilities
Accounts Payable and Accrued Expenses$38,602$38,487▼ $115
Total Liabilities$38,602$38,487▼ $115
Net Assets / Fund Balance
Permanently Rstr Net Assets$266,504$491,911▲ $225,407
Temporarily Rstr Net Assets$480,138$393,338▼ $86,800
Unrestricted Net Assets$153,905$91,547▼ $62,358
Total Net Assets Fund Balance$900,547$976,796▲ $76,249
Total Liabilities and Net Assets / Fund Balance$939,149$1,015,283▲ $76,134

Asset Categories

AssetBook ValueDepreciationBasis
Equipment-$418$418
Compensation and Service Providers
Top Officer Pay34th percentile

Board Members and Trustees

NameTitle
Dick WolleatPresident
Andy ReiersonBoard
Diane RauschenfelsBoard
Dr Stephen JohnsonBoard
Gardner LeppBoard
Gary TridgellBoard
Jody RichardsBoard
John EagletonBoard
Linda WagnerBoard
Sandy HoffBoard
Terese TomanekBoard
Linda BasaraSecretary
Tim PetersonTreasurer
Revenue and Support

Revenue Composition

Contributions and Grants
$561,820
Program Service Revenue
$0
Investment Income
$24,623
Other Revenue
$27,753
All Other Contributions
$561,820
Change in Net Assets
$2,451
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Grants and Similar Amounts Paid$406,958
Other Expenses$204,787
Total Fundraising Expense$48,814
Professional Fundraising Fees$0
Salaries, Compensation, and Employee Benefits$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Grants to Domestic Individuals$406,958--$406,958
Office Expenses-$20,467-$20,467
Fees for Services Other-$6,415-$6,415
All Other Expenses-$1,245-$1,245
Insurance-$870-$870
Other Expenses$6,712$799$7,209$799
Total Functional Expenses$452,405$110,526$48,814$611,745
Fundraising, Events, and Gaming
Fundraising activities
Yes
Gaming activities
No
Professional fundraiser used
No

Fundraising and Gaming Totals

Line ItemAmount
Fundraising Gross Income$42,158
Fundraising Direct Expenses$14,405
Professional Fundraising Fees$0

Fundraising Events

EventGross ReceiptsGross RevenueDirect ExpensesNet Income
Event 1$42,158$42,158$14,405$27,753
Total Events$42,158$42,158$14,405$27,753
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 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 11B

“Reviewed at board meeting.”

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

“Policy is reviewed annually.”

Form 990, Page 6, Part VI, Line 19

“Documents available upon request.”

Filing and Contact Details

Filer

EIN
36-3257072
Phone
2187337680

Signing Officer

Name
Richard Wolleat
Title
President
Phone
2187337680
Signed
2014-12-02
Discuss with paid preparer
Yes

Organization Details

Formed
1980
Legal Domicile
Mn
Voting Board Members
13
Independent Board Members
13
Employees
0

Preparer

Preparer
Steven S Licari
Phone
2187222226
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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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IRS990ScheduleA/TotalCalendarYear170Grp/TotalAmt02408686
IRS990ScheduleA/TotalSupportAmt02468597
IRS990/ScheduleBRequiredInd0false
IRS990ScheduleD/EquipmentGrp/DepreciationAmt0418
IRS990ScheduleD/EquipmentGrp/OtherCostOrOtherBasisAmt0418
IRS990ScheduleG/FundraisingEventInformationGrp/DirectExpenseSummaryEventsAmt014405
IRS990ScheduleG/FundraisingEventInformationGrp/GrossReceiptsEvent1Amt042158
IRS990ScheduleG/FundraisingEventInformationGrp/GrossReceiptsTotalAmt042158
IRS990ScheduleG/FundraisingEventInformationGrp/GrossRevenueEvent1Amt042158
IRS990ScheduleG/FundraisingEventInformationGrp/GrossRevenueTotalEventsAmt042158
IRS990ScheduleG/FundraisingEventInformationGrp/NameOfEvent1Amt0GOLF EVENTS, AU
IRS990ScheduleG/FundraisingEventInformationGrp/NetIncomeSummaryAmt027753
IRS990ScheduleG/FundraisingEventInformationGrp/OthDirectExpnssTotalEventsAmt014405
IRS990ScheduleG/FundraisingEventInformationGrp/OtherDirectExpensesEvent1Amt014405
IRS990ScheduleI/GrantRecordsMaintainedInd0false
IRS990ScheduleI/GrantsOtherAsstToIndivInUSGrp/CashGrantAmt0406958
IRS990ScheduleI/GrantsOtherAsstToIndivInUSGrp/GrantTypeTxt0SCHOLARSHIPS TO STUDENTS
IRS990/ScheduleJRequiredInd0false
IRS990/ScheduleORequiredInd0true
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0REVIEWED AT BOARD MEETING.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1POLICY IS REVIEWED ANNUALLY.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2DOCUMENTS AVAILABLE UPON REQUEST.
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0FORM 990, PAGE 6, PART VI, LINE 11B
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1FORM 990, PAGE 6, PART VI, LINE 12C
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2FORM 990, PAGE 6, PART VI, LINE 19
IRS990/SchoolOperatingInd0false
IRS990/SignificantChangeInd0false
IRS990/SignificantNewProgramSrvcInd0false
IRS990/StatesWhereCopyOfReturnIsFldCd0MN
IRS990/SubjectToProxyTaxInd0false
IRS990/TaxablePartyNotificationInd0false
IRS990/TaxExemptBondsInd0false
IRS990/TemporarilyRstrNetAssetsGrp/BOYAmt0480138
IRS990/TemporarilyRstrNetAssetsGrp/EOYAmt0393338
IRS990/TempOrPermanentEndowmentsInd0false
IRS990/TerminateOperationsInd0false
IRS990/TotalAssetsBOYAmt0939149
IRS990/TotalAssetsEOYAmt01015283
IRS990/TotalAssetsGrp/BOYAmt0939149
IRS990/TotalAssetsGrp/EOYAmt01015283
IRS990/TotalCompGreaterThan150KInd0false
IRS990/TotalContributionsAmt0561820
IRS990/TotalEmployeeCnt00
IRS990/TotalFunctionalExpensesGrp/FundraisingAmt048814
IRS990/TotalFunctionalExpensesGrp/ManagementAndGeneralAmt0110526
IRS990/TotalFunctionalExpensesGrp/ProgramServicesAmt0452405
IRS990/TotalFunctionalExpensesGrp/TotalAmt0611745
IRS990/TotalGrossUBIAmt00
IRS990/TotalLiabilitiesBOYAmt038602
IRS990/TotalLiabilitiesEOYAmt038487
IRS990/TotalLiabilitiesGrp/BOYAmt038602
IRS990/TotalLiabilitiesGrp/EOYAmt038487
IRS990/TotalNetAssetsFundBalanceGrp/BOYAmt0900547
IRS990/TotalNetAssetsFundBalanceGrp/EOYAmt0976796
IRS990/TotalProgramServiceExpensesAmt0452405
IRS990/TotalRevenueGrp/ExclusionAmt024623
IRS990/TotalRevenueGrp/TotalRevenueColumnAmt0614196
IRS990/TotLiabNetAssetsFundBalanceGrp/BOYAmt0939149
IRS990/TotLiabNetAssetsFundBalanceGrp/EOYAmt01015283
IRS990/TrnsfrExmptNonChrtblRltdOrgInd0false
IRS990/TypeOfOrganizationOtherInd0X
IRS990/UnrelatedBusIncmOverLimitInd0false
IRS990/UnrestrictedNetAssetsGrp/BOYAmt0153905
IRS990/UnrestrictedNetAssetsGrp/EOYAmt091547
IRS990/VotingMembersGoverningBodyCnt013
IRS990/VotingMembersIndependentCnt013
IRS990/WebsiteAddressTxt0WWW.LSC.EDU/FOUNDATION/
IRS990/WhistleblowerPolicyInd0true
ReturnHeader/BuildTS02015-11-30 17:44:51Z
ReturnHeader/BusinessOfficerGrp/DiscussWithPaidPreparerInd0true
ReturnHeader/BusinessOfficerGrp/PersonNm0RICHARD WOLLEAT
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0PRESIDENT
ReturnHeader/BusinessOfficerGrp/PhoneNum02187337680
ReturnHeader/BusinessOfficerGrp/SignatureDt02014-12-02
ReturnHeader/Filer/BusinessName/BusinessNameLine10LAKE SUPERIOR COLLEGE FOUNDATION I
ReturnHeader/Filer/BusinessNameControlTxt0LAKE
ReturnHeader/Filer/EIN0363257072
ReturnHeader/Filer/PhoneNum02187337680
ReturnHeader/Filer/USAddress/AddressLine102101 TRINITY ROAD
ReturnHeader/Filer/USAddress/City0DULUTH
ReturnHeader/Filer/USAddress/State0MN
ReturnHeader/Filer/USAddress/ZIPCode055811
ReturnHeader/PreparerFirmGrp/PreparerFirmEIN0411806729
ReturnHeader/PreparerFirmGrp/PreparerFirmName/BusinessNameLine10LICARI LARSEN AND COMPANY
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/AddressLine10130 W SUPERIOR ST STE 712
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/City0DULUTH
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/State0MN
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/ZIPCode055802
ReturnHeader/PreparerPersonGrp/PhoneNum02187222226
ReturnHeader/PreparerPersonGrp/PreparationDt02014-12-02
ReturnHeader/PreparerPersonGrp/PreparerPersonNm0STEVEN S LICARI
ReturnHeader/ReturnTs02014-12-22T11:51:45-06:00
ReturnHeader/ReturnTypeCd0990
ReturnHeader/TaxPeriodBeginDt02013-07-01
ReturnHeader/TaxPeriodEndDt02014-06-30
ReturnHeader/TaxYr02013

Document Assets

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Filings

Displayed year

2014 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$1,015,283
Liabilities
$38,487
Net assets
$976,796
Revenue
$614,196
Expenses
$611,745
Net income
$2,451
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Detailed filing. Detailed filing data is available for this year.$2.11$0.00$2.11$0.58$0.62$0.04
2023Detailed filing. Detailed filing data is available for this year.$1.94$0.00$1.94$0.39$0.48$0.09
2022Detailed filing. Detailed filing data is available for this year.$1.96$0.00$1.96$1.14$0.39$0.75
2021Detailed filing. Detailed filing data is available for this year.$1.36$0.00$1.36$0.51$0.45$0.06
2020Detailed filing. Detailed filing data is available for this year.$1.14$0.04$1.10$0.41$0.51$0.11
2019Detailed filing. Detailed filing data is available for this year.$1.24$0.00$1.24$0.72$0.74$0.02
2018Detailed filing. Detailed filing data is available for this year.$1.06$0.00$1.06$0.70$0.81$0.11
2017Detailed filing. Detailed filing data is available for this year.$1.17$0.00$1.17$0.79$0.72$0.08
2016Detailed filing. Detailed filing data is available for this year.$0.97$0.00$0.97$0.66$0.59$0.08
2015Detailed filing. Detailed filing data is available for this year.$0.98$0.03$0.95$0.68$0.85$0.17
2014Detailed filing. Detailed filing data is available for this year.$1.02$0.04$0.98$0.61$0.61$0.00
2013Facts available. Structured filing facts are available, but richer extracted sections are limited.$0.94$0.04$0.90$0.49
2012Facts available. Structured filing facts are available, but richer extracted sections are limited.$0.86$0.02$0.84$0.52
2011Facts available. Structured filing facts are available, but richer extracted sections are limited.$0.84$0.02$0.82$0.47