Civic Intelligence

Mesabi Range College Foundation

990 • Fiscal year 2019 • EIN 36-3297854

May 01, 2018 to Apr 30, 2019 • Filed on Aug 27, 2019

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

15th percentile

0.00x

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

2019 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2019

Liabilities / Revenue

15th percentile

0.00x

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

2019 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2019

Net Margin

55th percentile

5.0%

Higher net margin than 55% of similar nonprofits.

2019 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2019

Top Officer Pay

36th percentile

$0

Higher top officer pay than 36% of similar nonprofits.

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

2019 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2019

Asset Growth

55th percentile

4.7%

Faster asset growth than 55% of similar nonprofits.

2019 filings • 501(c)3 • $1M-$5M nonprofits • Annualized from 2018 to 2019

Revenue Growth

5th percentile

-52%

Faster revenue growth than 5% of similar nonprofits.

2019 filings • 501(c)3 • $1M-$5M nonprofits • Annualized from 2018 to 2019

Balance Sheet
Liabilities / Assets15th percentile

Assets

Up

$1,042,086

Up $47,089 (+4.7%) from 2018

Net Assets

Up

$1,042,086

Up $48,719 (+4.9%) from 2018

Liabilities

Down

$0

Down $1,630 (-100%) from 2018

Revenue And Expenses
Liabilities / Revenue15th percentileNet Margin55th percentile

Revenue

Down

$127,580

Down $135,541 (-52%) from 2018

Expenses

Down

$121,246

Down $121,401 (-50%) from 2018

Net Income

Down

$6,334

Down $14,140 (-69%) from 2018

Historical Trend

Balance Sheet Trend

Asset Growth55th 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

2019

Assets$1,042,086
Liabilities$0
Net Assets$1,042,086
Open 2019 Filing

Operations Trend

Revenue Growth5th 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

2019

Revenue$127,580
Expenses$121,246
Net Income$6,334
Open 2019 Filing
Jump To
Filing Snapshot
Filing Period
May 1, 2018 to Apr 30, 2019
Signed
Aug 27, 2019
Return Version
2018v3.1
Gross Receipts
$333,433
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$840,099$824,017▼ $16,082
Savings and Temporary Cash Investments$153,794$218,069▲ $64,275
Pledges and Grants Receivable$995--
Land, Buildings, and Equipment, Net$109$0▼ $109
Total Assets$994,997$1,042,086▲ $47,089
Liabilities
Accounts Payable and Accrued Expenses$1,630--
Total Liabilities$1,630$0▼ $1,630
Net Assets / Fund Balance
Permanently Rstr Net Assets$548,987$597,912▲ $48,925
Temporarily Rstr Net Assets$297,321$284,383▼ $12,938
Unrestricted Net Assets$147,059$159,791▲ $12,732
Total Net Assets Fund Balance$993,367$1,042,086▲ $48,719
Total Liabilities and Net Assets / Fund Balance$994,997$1,042,086▲ $47,089

Asset Categories

AssetBook ValueDepreciationBasis
Other Land Buildings$0$1,090-

Endowment Activity

PeriodBeginningContrib.Gain/LossOther UsesEnd
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
2014$668,062$163,276▲ $40,934$74,971$704,166
Compensation and Service Providers
Top Officer Pay36th percentile

Board Members and Trustees

NameTitle
Mark KovacichActing Chair
Chris AhrensDirector
Jan JohnstonDirector
Joann RocheDirector
Steve JohnsonSecretary
Elizabeth OlivantiTreasurer
Revenue and Support

Revenue Composition

Contributions and Grants
$121,807
Program Service Revenue
$0
Investment Income
$-805
Other Revenue
$6,578
All Other Contributions
$121,807
Change in Net Assets
$6,334
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Grants and Similar Amounts Paid$73,325
Other Expenses$47,921
Total Fundraising Expense$3,095
Professional Fundraising Fees$0
Salaries, Compensation, and Employee Benefits$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Grants to Domestic Individuals$73,325--$73,325
Fees for Services Management$6,191$3,095$3,095$12,381
Fees for Service Investment Mgmnt Fees$10,673$652$0$11,325
Fees for Services Other$7,100$0$0$7,100
Information Technology$4,750$0$0$4,750
Other Expenses$4,000$0$0$4,000
Insurance$0$1,936$0$1,936
Office Expenses$0$1,199$0$1,199
Depreciation Depletion$109$0$0$109
Total Functional Expenses$111,269$6,882$3,095$121,246
Fundraising, Events, and Gaming
Fundraising activities
No
Gaming activities
No
Professional fundraiser used
No

Fundraising and Gaming Totals

Line ItemAmount
Fundraising Gross Income$7,208
Fundraising Direct Expenses$630
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 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
2019-08-27
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Elizabeth Olivanti
Formed
1998
Legal Domicile
Mn
Voting Board Members
6
Independent Board Members
6
Employees
0
Volunteers
25

Preparer

Firm
Fort & Company Pa
Address
2302 3RD AVE E, HIBBING, MN 55746
Preparer
Connor Michels
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”

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/SubstantialContributorsTotAmt00
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IRS990ScheduleA/ThirtyThrPctSuprtTestsCY170Ind0X
IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearAmt0121807
IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearMinus1YearAmt0218301
IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearMinus2YearsAmt0329903
IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearMinus3YearsAmt0189482
IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearMinus4YearsAmt0151184
IRS990ScheduleA/TotalCalendarYear170Grp/TotalAmt01010677
IRS990ScheduleA/TotalSupportAmt01248565
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/BeginningYearBalanceAmt0846308
IRS990ScheduleD/CYEndwmtFundGrp/ContributionsAmt0115818
IRS990ScheduleD/CYEndwmtFundGrp/EndYearBalanceAmt0882294
IRS990ScheduleD/CYEndwmtFundGrp/GrantsOrScholarshipsAmt073325
IRS990ScheduleD/CYEndwmtFundGrp/InvestmentEarningsOrLossesAmt09715
IRS990ScheduleD/CYEndwmtFundGrp/OtherExpendituresAmt016222
IRS990ScheduleD/CYMinus1YrEndwmtFundGrp/BeginningYearBalanceAmt0797811
IRS990ScheduleD/CYMinus1YrEndwmtFundGrp/ContributionsAmt0274932
IRS990ScheduleD/CYMinus1YrEndwmtFundGrp/EndYearBalanceAmt0846308
IRS990ScheduleD/CYMinus1YrEndwmtFundGrp/GrantsOrScholarshipsAmt0124925
IRS990ScheduleD/CYMinus1YrEndwmtFundGrp/InvestmentEarningsOrLossesAmt0-75826
IRS990ScheduleD/CYMinus1YrEndwmtFundGrp/OtherExpendituresAmt025684
IRS990ScheduleD/CYMinus2YrEndwmtFundGrp/BeginningYearBalanceAmt0718258
IRS990ScheduleD/CYMinus2YrEndwmtFundGrp/ContributionsAmt0192825
IRS990ScheduleD/CYMinus2YrEndwmtFundGrp/EndYearBalanceAmt0797811
IRS990ScheduleD/CYMinus2YrEndwmtFundGrp/GrantsOrScholarshipsAmt0119675
IRS990ScheduleD/CYMinus2YrEndwmtFundGrp/InvestmentEarningsOrLossesAmt0164130
IRS990ScheduleD/CYMinus2YrEndwmtFundGrp/OtherExpendituresAmt0157727
IRS990ScheduleD/CYMinus3YrEndwmtFundGrp/BeginningYearBalanceAmt0704166
IRS990ScheduleD/CYMinus3YrEndwmtFundGrp/ContributionsAmt0154555
IRS990ScheduleD/CYMinus3YrEndwmtFundGrp/EndYearBalanceAmt0718258
IRS990ScheduleD/CYMinus3YrEndwmtFundGrp/GrantsOrScholarshipsAmt092670
IRS990ScheduleD/CYMinus3YrEndwmtFundGrp/InvestmentEarningsOrLossesAmt0-16700
IRS990ScheduleD/CYMinus3YrEndwmtFundGrp/OtherExpendituresAmt031093
IRS990ScheduleD/CYMinus4YrEndwmtFundGrp/BeginningYearBalanceAmt0668062
IRS990ScheduleD/CYMinus4YrEndwmtFundGrp/ContributionsAmt0163276
IRS990ScheduleD/CYMinus4YrEndwmtFundGrp/EndYearBalanceAmt0704166
IRS990ScheduleD/CYMinus4YrEndwmtFundGrp/GrantsOrScholarshipsAmt093135
IRS990ScheduleD/CYMinus4YrEndwmtFundGrp/InvestmentEarningsOrLossesAmt040934
IRS990ScheduleD/CYMinus4YrEndwmtFundGrp/OtherExpendituresAmt074971
IRS990ScheduleD/EndowmentsHeldRelatedOrgInd0false
IRS990ScheduleD/EndowmentsHeldUnrelatedOrgInd0false
IRS990ScheduleD/OtherLandBuildingsGrp/BookValueAmt00
IRS990ScheduleD/OtherLandBuildingsGrp/DepreciationAmt01090
IRS990ScheduleD/OtherLandBuildingsGrp/InvestmentCostOrOtherBasisAmt01090
IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt0DIRECT FUNDRAISING EXPENSES
IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt1DIRECT FUNDRAISING EXPENSES
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc0Pt XI, Line 4b
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc1Pt XII, Line 2d
IRS990ScheduleD/TotalBookValueLandBuildingsAmt00
IRS990ScheduleI/GrantRecordsMaintainedInd0true
IRS990ScheduleI/GrantsOtherAsstToIndivInUSGrp/CashGrantAmt073325
IRS990ScheduleI/GrantsOtherAsstToIndivInUSGrp/GrantTypeTxt0SCHOLARSHIPS - $125 TO $5500
IRS990ScheduleI/GrantsOtherAsstToIndivInUSGrp/RecipientCnt050
IRS990ScheduleI/SupplementalInformationDetail/ExplanationTxt0PART III REPORTS SCHOLARSHIPS IMMEDIATELY BENEFITING INDIVIDUAL STUDENTS OF THE COLLEGE EVEN IF REMITTANCE WAS PAID TO THE COLLEGE
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
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IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1Pt VI, Line 19
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IRS990/SignificantNewProgramSrvcInd0false
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IRS990/SubjectToProxyTaxInd0false
IRS990/TaxablePartyNotificationInd0false
IRS990/TaxExemptBondsInd0false
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IRS990/TemporarilyRstrNetAssetsGrp/EOYAmt0284383
IRS990/TempOrPermanentEndowmentsInd0true
IRS990/TerminateOperationsInd0false
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IRS990/TotalAssetsEOYAmt01042086
IRS990/TotalAssetsGrp/BOYAmt0994997
IRS990/TotalAssetsGrp/EOYAmt01042086
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IRS990/TotalContributionsAmt0121807
IRS990/TotalEmployeeCnt00
IRS990/TotalFunctionalExpensesGrp/FundraisingAmt03095
IRS990/TotalFunctionalExpensesGrp/ManagementAndGeneralAmt06882
IRS990/TotalFunctionalExpensesGrp/ProgramServicesAmt0111269
IRS990/TotalFunctionalExpensesGrp/TotalAmt0121246
IRS990/TotalGrossUBIAmt00
IRS990/TotalLiabilitiesBOYAmt01630
IRS990/TotalLiabilitiesEOYAmt00
IRS990/TotalLiabilitiesGrp/BOYAmt01630
IRS990/TotalLiabilitiesGrp/EOYAmt00
IRS990/TotalNetAssetsFundBalanceGrp/BOYAmt0993367
IRS990/TotalNetAssetsFundBalanceGrp/EOYAmt01042086
IRS990/TotalOtherCompensationAmt00
IRS990/TotalProgramServiceExpensesAmt0111269
IRS990/TotalReportableCompFromOrgAmt00
IRS990/TotalRevenueGrp/ExclusionAmt06578
IRS990/TotalRevenueGrp/RelatedOrExemptFuncIncomeAmt0-805
IRS990/TotalRevenueGrp/TotalRevenueColumnAmt0127580
IRS990/TotalRevenueGrp/UnrelatedBusinessRevenueAmt00
IRS990/TotalVolunteersCnt025
IRS990/TotLiabNetAssetsFundBalanceGrp/BOYAmt0994997
IRS990/TotLiabNetAssetsFundBalanceGrp/EOYAmt01042086
IRS990/TotReportableCompRltdOrgAmt00
IRS990/TrnsfrExmptNonChrtblRltdOrgInd0false
IRS990/TypeOfOrganizationCorpInd0X
IRS990/UnrelatedBusIncmOverLimitInd0false
IRS990/UnrestrictedNetAssetsGrp/BOYAmt0147059
IRS990/UnrestrictedNetAssetsGrp/EOYAmt0159791
IRS990/UponRequestInd0X
IRS990/USAddress/AddressLine1Txt01001 W CHESTNUT STREET
IRS990/USAddress/CityNm0VIRGINIA
IRS990/USAddress/StateAbbreviationCd0MN
IRS990/USAddress/ZIPCd055792
IRS990/VotingMembersGoverningBodyCnt06
IRS990/VotingMembersIndependentCnt06
IRS990/WebsiteAddressTxt0www.mesabirange.edu/foundation
IRS990/WhistleblowerPolicyInd0false
ReturnHeader/BuildTS02020-09-23 17:36:50Z
ReturnHeader/BusinessOfficerGrp/DiscussWithPaidPreparerInd0true
ReturnHeader/BusinessOfficerGrp/PersonNm0ELIZABETH OLIVANTI
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0TREASURER
ReturnHeader/BusinessOfficerGrp/PhoneNum02187482433
ReturnHeader/BusinessOfficerGrp/SignatureDt02019-08-27
ReturnHeader/Filer/BusinessName/BusinessNameLine1Txt0MESABI RANGE COLLEGE FOUNDATION

Document Assets

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Filings

Displayed year

2019 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$1,042,086
Liabilities
$0
Net assets
$1,042,086
Revenue
$127,580
Expenses
$121,246
Net income
$6,334
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