Civic Intelligence

Mesabi Range College Foundation

990 • Fiscal year 2020 • EIN 36-3297854

May 01, 2019 to Apr 30, 2020 • Filed on Sep 29, 2020

Organization Profilewww.mesabirange.edu/foundation

View Organization Page

1001 W Chestnut StreetVirginia, MN 55792

(218) 748-2433

Siviq Scores

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

Liabilities / Assets

27th percentile

0.00x

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

2020 filings • 501(c)3 • $500k-$1M nonprofits • Source year 2020

Liabilities / Revenue

27th percentile

0.00x

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

2020 filings • 501(c)3 • $500k-$1M nonprofits • Source year 2020

Net Margin

14th percentile

-24%

Higher net margin than 14% of similar nonprofits.

2020 filings • 501(c)3 • $500k-$1M nonprofits • Source year 2020

Top Officer Pay

51st percentile

$0

Higher top officer pay than 51% of similar nonprofits.

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

2020 filings • 501(c)3 • $500k-$1M nonprofits • Source year 2020

Asset Growth

14th percentile

-7.6%

Faster asset growth than 14% of similar nonprofits.

2020 filings • 501(c)3 • $500k-$1M nonprofits • Annualized from 2019 to 2020

Revenue Growth

58th percentile

3.7%

Faster revenue growth than 58% of similar nonprofits.

2020 filings • 501(c)3 • $500k-$1M nonprofits • Annualized from 2019 to 2020

Balance Sheet
Liabilities / Assets27th percentile

Assets

Down

$962,503

Down $79,583 (-7.6%) from 2019

Net Assets

Down

$962,503

Down $79,583 (-7.6%) from 2019

Liabilities

Flat

$0

Flat from 2019

Revenue And Expenses
Liabilities / Revenue27th percentileNet Margin14th percentile

Revenue

Up

$132,262

Up $4,682 (+3.7%) from 2019

Expenses

Up

$164,583

Up $43,337 (+36%) from 2019

Net Income

Down

-$32,321

Down $38,655 (-610%) from 2019

Historical Trend

Balance Sheet Trend

Asset Growth14th percentile

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

$1.5M$1.0M$500K$0Assets 2012: $678,952Liabilities 2012: $2,064Net Assets 2012: $676,8882012Assets 2013: $758,610Liabilities 2013: $812Net Assets 2013: $757,7982013Assets 2014: $910,843Liabilities 2014: $851Net Assets 2014: $909,9922014Assets 2015: $879,886Liabilities 2015: $8,517Net Assets 2015: $871,3692015Assets 2016: $877,086Liabilities 2016: $567Net Assets 2016: $876,5192016Assets 2017: $969,459Liabilities 2017: $0Net Assets 2017: $969,4592017Assets 2018: $994,997Liabilities 2018: $1,630Net Assets 2018: $993,3672018Assets 2019: $1,042,086Liabilities 2019: $0Net Assets 2019: $1,042,0862019Assets 2020: $962,503Liabilities 2020: $0Net Assets 2020: $962,5032020Assets 2021: $1,216,889Liabilities 2021: $75Net Assets 2021: $1,216,8142021Assets 2022: $1,097,636Liabilities 2022: $0Net Assets 2022: $1,097,6362022Assets 2023: $1,063,573Liabilities 2023: $0Net Assets 2023: $1,063,5732023Assets 2024: $1,131,500Liabilities 2024: $0Net Assets 2024: $1,131,5002024Assets 2025: $1,402,725Liabilities 2025: $0Net Assets 2025: $1,402,7252025

Highlighted filing

2020

Assets$962,503
Liabilities$0
Net Assets$962,503
Open 2020 Filing

Operations Trend

Revenue Growth58th percentile

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

$600K$400K$200K$0-$200KExpenses 2012: $149,2032012Expenses 2013: $188,9352013Revenue 2014: $269,966Expenses 2014: $148,629Net Income 2014: $121,3372014Revenue 2015: $206,234Expenses 2015: $250,120Net Income 2015: -$43,8862015Revenue 2016: $220,666Expenses 2016: $181,747Net Income 2016: $38,9192016Revenue 2017: $402,384Expenses 2017: $321,563Net Income 2017: $80,8212017Revenue 2018: $263,121Expenses 2018: $242,647Net Income 2018: $20,4742018Revenue 2019: $127,580Expenses 2019: $121,246Net Income 2019: $6,3342019Revenue 2020: $132,262Expenses 2020: $164,583Net Income 2020: -$32,3212020Revenue 2021: $282,959Expenses 2021: $142,488Net Income 2021: $140,4712021Revenue 2022: $219,772Expenses 2022: $170,322Net Income 2022: $49,4502022Revenue 2023: $118,001Expenses 2023: $134,094Net Income 2023: -$16,0932023Revenue 2024: $145,450Expenses 2024: $148,940Net Income 2024: -$3,4902024Revenue 2025: $418,879Expenses 2025: $147,654Net Income 2025: $271,2252025

Highlighted filing

2020

Revenue$132,262
Expenses$164,583
Net Income-$32,321
Open 2020 Filing
Jump To
Filing Snapshot
Filing Period
May 1, 2019 to Apr 30, 2020
Signed
Sep 29, 2020
Return Version
2019v5.1
Gross Receipts
$381,496
Mission and Program Overview

Mission

Scholarships and grants to college students, student organizations, or student housing authority.

Scholarships and grants to college students, student organizations or student housing authority

Balance Sheet Detail
LineBeginningEndChange
Assets
Investments in Publicly Traded Securities$824,017$806,368▼ $17,649
Savings and Temporary Cash Investments$218,069$145,251▼ $72,818
Land, Buildings, and Equipment, Net$0$6,106▲ $6,106
Prepaid Expenses and Deferred Charges-$2,778-
Accounts Receivable-$2,000-
Total Assets$1,042,086$962,503▼ $79,583
Liabilities
Total Liabilities$0$0→ $0
Net Assets / Fund Balance
Net Assets With Donor Restrictions$882,295$827,518▼ $54,777
Net Assets Without Donor Restrictions$159,791$134,985▼ $24,806
Total Net Assets Fund Balance$1,042,086$962,503▼ $79,583
Total Liabilities and Net Assets / Fund Balance$1,042,086$962,503▼ $79,583

Asset Categories

AssetBook ValueDepreciationBasis
Equipment$6,106$1,614$7,720
Land$0--

Endowment Activity

PeriodBeginningContrib.Gain/LossOther UsesEnd
2019$882,294$105,632▼ $45,001$3,307$827,518
2018$846,308$115,818▲ $9,715$16,222$882,294
2017$797,811$274,932▼ $75,826$25,684$846,308
2016$718,258$192,825▲ $164,130$157,727$797,811
2015$704,166$154,555▼ $16,700$31,093$718,258
Compensation and Service Providers
Top Officer Pay51st percentile

Board Members and Trustees

NameTitle
Mark KovacichActing Chair
Chris AhrensDirector
Elizabeth OlivantiTreasurer
Revenue and Support

Revenue Composition

Contributions and Grants
$101,354
Program Service Revenue
$0
Investment Income
$26,127
Other Revenue
$4,781
All Other Contributions
$101,354
Change in Net Assets
$-32,321
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Grants and Similar Amounts Paid$114,185
Other Expenses$50,398
Total Fundraising Expense$3,463
Professional Fundraising Fees$0
Salaries, Compensation, and Employee Benefits$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Grants to Domestic Individuals$114,185--$114,185
Fees for Services Management$5,973$2,986$2,986$11,945
Fees for Service Investment Mgmnt Fees$9,919$767$0$10,686
Fees for Services Accounting$0$5,825$0$5,825
Fees for Services Other$2,914$0$0$2,914
Information Technology$2,222$0$0$2,222
All Other Expenses$242$1,717$0$1,959
Insurance$955$478$477$1,910
Office Expenses$1,075$326$0$1,401
Depreciation Depletion$595$0$0$595
Other Expenses$539$0$0$539
Advertising$98$0$0$98
Total Functional Expenses$149,021$12,099$3,463$164,583
Fundraising, Events, and Gaming
Fundraising activities
No
Gaming activities
No
Professional fundraiser used
No

Fundraising and Gaming Totals

Line ItemAmount
Fundraising Gross Income$5,008
Fundraising Direct Expenses$227
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
No
Backup withholding compliance
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
Filing and Contact Details

Filer

Filer Name
Mesabi Range College Foundation
EIN
36-3297854
Phone
2187482433
Address
1001 W CHESTNUT STREET, VIRGINIA, MN 55792

Signing Officer

Name
Elizabeth Olivanti
Title
Treasurer
Phone
2187482433
Signed
2020-09-29
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Elizabeth Olivanti
Formed
1998
Legal Domicile
Mn
Voting Board Members
3
Independent Board Members
3
Employees
0
Volunteers
25

Preparer

Firm
Fort & Company Pa
Address
2302 3RD AVE E, HIBBING, MN 55746
Preparer
Diane Krueger-pirnat
Phone
2182623404
Supplemental Narrative

Additional Explanations

Pt VI, Line 11B

“Form 990 is reviewed by the organization's board of directors prior to filing”

Pt VI, Line 19

“All documents are available to the public upon request”

Pt XI

“Depreciation as shown on the tax return is $71 greater than book depreciation”

Financial Statement Notes

Pt XI, Line 4B

“Direct fundraising expenses”

Pt XII, Line 2D

“Direct fundraising expenses”

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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/CurrentTaxYearMinus2YearsAmt0218301
IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearMinus3YearsAmt0329903
IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearMinus4YearsAmt0189482
IRS990ScheduleA/TotalCalendarYear170Grp/TotalAmt0960847
IRS990ScheduleA/TotalSupportAmt01172796
IRS990ScheduleA/UnrelatedBusinessNetIncm170Grp/TotalAmt00
IRS990ScheduleB/ContributorInformationGrp/ContributorBusinessName/BusinessNameLine10RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorNum0RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/AddressLine10RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/AddressLine20RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/City0RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/State0RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/ZIPCode0RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/TotalContributionsAmt0RESTRICTED
IRS990/ScheduleBRequiredInd0true
IRS990ScheduleD/CYEndwmtFundGrp/BeginningYearBalanceAmt0882294
IRS990ScheduleD/CYEndwmtFundGrp/ContributionsAmt0105632
IRS990ScheduleD/CYEndwmtFundGrp/EndYearBalanceAmt0827518
IRS990ScheduleD/CYEndwmtFundGrp/GrantsOrScholarshipsAmt0112100
IRS990ScheduleD/CYEndwmtFundGrp/InvestmentEarningsOrLossesAmt0-45001
IRS990ScheduleD/CYEndwmtFundGrp/OtherExpendituresAmt03307
IRS990ScheduleD/CYMinus1YrEndwmtFundGrp/BeginningYearBalanceAmt0846308
IRS990ScheduleD/CYMinus1YrEndwmtFundGrp/ContributionsAmt0115818
IRS990ScheduleD/CYMinus1YrEndwmtFundGrp/EndYearBalanceAmt0882294
IRS990ScheduleD/CYMinus1YrEndwmtFundGrp/GrantsOrScholarshipsAmt073325
IRS990ScheduleD/CYMinus1YrEndwmtFundGrp/InvestmentEarningsOrLossesAmt09715
IRS990ScheduleD/CYMinus1YrEndwmtFundGrp/OtherExpendituresAmt016222
IRS990ScheduleD/CYMinus2YrEndwmtFundGrp/BeginningYearBalanceAmt0797811
IRS990ScheduleD/CYMinus2YrEndwmtFundGrp/ContributionsAmt0274932
IRS990ScheduleD/CYMinus2YrEndwmtFundGrp/EndYearBalanceAmt0846308
IRS990ScheduleD/CYMinus2YrEndwmtFundGrp/GrantsOrScholarshipsAmt0124925
IRS990ScheduleD/CYMinus2YrEndwmtFundGrp/InvestmentEarningsOrLossesAmt0-75826
IRS990ScheduleD/CYMinus2YrEndwmtFundGrp/OtherExpendituresAmt025684
IRS990ScheduleD/CYMinus3YrEndwmtFundGrp/BeginningYearBalanceAmt0718258
IRS990ScheduleD/CYMinus3YrEndwmtFundGrp/ContributionsAmt0192825
IRS990ScheduleD/CYMinus3YrEndwmtFundGrp/EndYearBalanceAmt0797811
IRS990ScheduleD/CYMinus3YrEndwmtFundGrp/GrantsOrScholarshipsAmt0119675
IRS990ScheduleD/CYMinus3YrEndwmtFundGrp/InvestmentEarningsOrLossesAmt0164130
IRS990ScheduleD/CYMinus3YrEndwmtFundGrp/OtherExpendituresAmt0157727
IRS990ScheduleD/CYMinus4YrEndwmtFundGrp/BeginningYearBalanceAmt0704166
IRS990ScheduleD/CYMinus4YrEndwmtFundGrp/ContributionsAmt0154555
IRS990ScheduleD/CYMinus4YrEndwmtFundGrp/EndYearBalanceAmt0718258
IRS990ScheduleD/CYMinus4YrEndwmtFundGrp/GrantsOrScholarshipsAmt092670
IRS990ScheduleD/CYMinus4YrEndwmtFundGrp/InvestmentEarningsOrLossesAmt0-16700
IRS990ScheduleD/CYMinus4YrEndwmtFundGrp/OtherExpendituresAmt031093
IRS990ScheduleD/EndowmentsHeldRelatedOrgInd0false
IRS990ScheduleD/EndowmentsHeldUnrelatedOrgInd0false
IRS990ScheduleD/EquipmentGrp/BookValueAmt06106
IRS990ScheduleD/EquipmentGrp/DepreciationAmt01614
IRS990ScheduleD/EquipmentGrp/OtherCostOrOtherBasisAmt07720
IRS990ScheduleD/LandGrp/BookValueAmt00
IRS990ScheduleD/LandGrp/InvestmentCostOrOtherBasisAmt00
IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt0DIRECT FUNDRAISING EXPENSES
IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt1DIRECT FUNDRAISING EXPENSES
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc0Pt XI, Line 4b
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc1Pt XII, Line 2d
IRS990ScheduleD/TotalBookValueLandBuildingsAmt06106
IRS990ScheduleI/GrantRecordsMaintainedInd0true
IRS990ScheduleI/GrantsOtherAsstToIndivInUSGrp/CashGrantAmt0112100
IRS990ScheduleI/GrantsOtherAsstToIndivInUSGrp/CashGrantAmt12085
IRS990ScheduleI/GrantsOtherAsstToIndivInUSGrp/GrantTypeTxt0SCHOLARSHIPS - $125 TO $6000
IRS990ScheduleI/GrantsOtherAsstToIndivInUSGrp/GrantTypeTxt1EMERGENCY FUND ASSISTANCE - $193 TO $1000
IRS990ScheduleI/GrantsOtherAsstToIndivInUSGrp/RecipientCnt052
IRS990ScheduleI/GrantsOtherAsstToIndivInUSGrp/RecipientCnt13
IRS990ScheduleI/SupplementalInformationDetail/ExplanationTxt0PART III REPORTS SCHOLARSHIPS IMMEDIATELY BENEFITING INDIVIDUAL STUDENTS OF THE COLLEGE EVEN IF REMITTANCE WAS PAID TO THE COLLEGE. EMERGENCY FUND ASSISTANCE IMMEDITELY BENEFITS EACH INDIVIDUAL.
IRS990ScheduleI/SupplementalInformationDetail/FormAndLineReferenceDesc0Pt I Line 2
IRS990/ScheduleJRequiredInd0false
IRS990/ScheduleORequiredInd0true
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0FORM 990 IS REVIEWED BY THE ORGANIZATION'S BOARD OF DIRECTORS PRIOR TO FILING
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1ALL DOCUMENTS ARE AVAILABLE TO THE PUBLIC UPON REQUEST
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2DEPRECIATION AS SHOWN ON THE TAX RETURN IS $71 GREATER THAN BOOK DEPRECIATION
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0Pt VI, Line 11b
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1Pt VI, Line 19
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2Pt XI
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IRS990/SubjectToProxyTaxInd0false
IRS990/SubjToTaxRmnrtnExPrchtPymtInd0false
IRS990/TaxablePartyNotificationInd0false
IRS990/TaxExemptBondsInd0false
IRS990/TerminateOperationsInd0false
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IRS990/TotalAssetsGrp/EOYAmt0962503
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IRS990/TotalContributionsAmt0101354
IRS990/TotalEmployeeCnt00
IRS990/TotalFunctionalExpensesGrp/FundraisingAmt03463
IRS990/TotalFunctionalExpensesGrp/ManagementAndGeneralAmt012099
IRS990/TotalFunctionalExpensesGrp/ProgramServicesAmt0149021
IRS990/TotalFunctionalExpensesGrp/TotalAmt0164583
IRS990/TotalGrossUBIAmt00
IRS990/TotalLiabilitiesEOYAmt00
IRS990/TotalLiabilitiesGrp/BOYAmt00
IRS990/TotalLiabilitiesGrp/EOYAmt00
IRS990/TotalNetAssetsFundBalanceGrp/BOYAmt01042086
IRS990/TotalNetAssetsFundBalanceGrp/EOYAmt0962503
IRS990/TotalProgramServiceExpensesAmt0149021
IRS990/TotalRevenueGrp/ExclusionAmt04781
IRS990/TotalRevenueGrp/RelatedOrExemptFuncIncomeAmt026127
IRS990/TotalRevenueGrp/TotalRevenueColumnAmt0132262
IRS990/TotalRevenueGrp/UnrelatedBusinessRevenueAmt00
IRS990/TotalVolunteersCnt025
IRS990/TotLiabNetAssetsFundBalanceGrp/BOYAmt01042086
IRS990/TotLiabNetAssetsFundBalanceGrp/EOYAmt0962503
IRS990/TrnsfrExmptNonChrtblRltdOrgInd0false
IRS990/TypeOfOrganizationCorpInd0X
IRS990/UnrelatedBusIncmOverLimitInd0false
IRS990/UponRequestInd0X
IRS990/USAddress/AddressLine1Txt01001 W CHESTNUT STREET
IRS990/USAddress/CityNm0VIRGINIA
IRS990/USAddress/StateAbbreviationCd0MN
IRS990/USAddress/ZIPCd055792
IRS990/VotingMembersGoverningBodyCnt03
IRS990/VotingMembersIndependentCnt03
IRS990/WebsiteAddressTxt0www.mesabirange.edu/foundation
IRS990/WhistleblowerPolicyInd0false
ReturnHeader/BuildTS02021-01-29 14:40:06Z
ReturnHeader/BusinessOfficerGrp/DiscussWithPaidPreparerInd0true
ReturnHeader/BusinessOfficerGrp/PersonNm0ELIZABETH OLIVANTI
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0TREASURER
ReturnHeader/BusinessOfficerGrp/PhoneNum02187482433
ReturnHeader/BusinessOfficerGrp/SignatureDt02020-09-29
ReturnHeader/Filer/BusinessName/BusinessNameLine1Txt0MESABI RANGE COLLEGE FOUNDATION
ReturnHeader/Filer/BusinessNameControlTxt0MESA
ReturnHeader/Filer/EIN0363297854
ReturnHeader/Filer/PhoneNum02187482433
ReturnHeader/Filer/USAddress/AddressLine1Txt01001 W CHESTNUT STREET
ReturnHeader/Filer/USAddress/CityNm0VIRGINIA

Document Assets

No mirrored PDF or thumbnail assets are attached yet.

Filings

Displayed year

2020 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$962,503
Liabilities
$0
Net assets
$962,503
Revenue
$132,262
Expenses
$164,583
Net income
-$32,321
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2025Detailed filing. Detailed filing data is available for this year.$1.40$0.00$1.40$0.42$0.15$0.27
2024Detailed filing. Detailed filing data is available for this year.$1.13$0.00$1.13$0.15$0.15$0.00
2023Detailed filing. Detailed filing data is available for this year.$1.06$0.00$1.06$0.12$0.13$0.02
2022Detailed filing. Detailed filing data is available for this year.$1.10$0.00$1.10$0.22$0.17$0.05
2021Detailed filing. Detailed filing data is available for this year.$1.22$0.00$1.22$0.28$0.14$0.14
2020Detailed filing. Detailed filing data is available for this year.$0.96$0.00$0.96$0.13$0.16$0.03
2019Detailed filing. Detailed filing data is available for this year.$1.04$0.00$1.04$0.13$0.12$0.01
2018Detailed filing. Detailed filing data is available for this year.$0.99$0.00$0.99$0.26$0.24$0.02
2017Detailed filing. Detailed filing data is available for this year.$0.97$0.00$0.97$0.40$0.32$0.08
2016Detailed filing. Detailed filing data is available for this year.$0.88$0.00$0.88$0.22$0.18$0.04
2015Detailed filing. Detailed filing data is available for this year.$0.88$0.01$0.87$0.21$0.25$0.04
2014Detailed filing. Detailed filing data is available for this year.$0.91$0.00$0.91$0.27$0.15$0.12
2013Facts available. Structured filing facts are available, but richer extracted sections are limited.$0.76$0.00$0.76$0.19
2012Facts available. Structured filing facts are available, but richer extracted sections are limited.$0.68$0.00$0.68$0.15