Civic Intelligence

Lake Area Technical Institute Foundation

990 • Fiscal year 2015 • EIN 36-3860861

Jul 01, 2014 to Jun 30, 2015 • Filed on Nov 16, 2015

Organization ProfileWWW.LAKEAREATECH.EDU
1201 Arrow Ave NEWatertown, SD 57201

(605) 882-5284

Siviq Scores

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

Liabilities / Assets

50th percentile

0.10x

Higher debt load relative to assets than 50% of similar nonprofits.

2015 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2015

Liabilities / Revenue

59th percentile

0.18x

Higher debt load relative to revenue than 59% of similar nonprofits.

2015 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2015

Net Margin

75th percentile

16%

Higher net margin than 75% of similar nonprofits.

2015 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2015

Top Officer Pay

57th percentile

$75,800

Higher top officer pay than 57% of similar nonprofits.

Top officer pay equals 5.4% of source-year revenue.

2015 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2015

Asset Growth

69th percentile

7.7%

Faster asset growth than 69% of similar nonprofits.

2015 filings • 501(c)3 • $1M-$5M nonprofits • Annualized from 2014 to 2015

Revenue Growth

30th percentile

-4.3%

Faster revenue growth than 30% of similar nonprofits.

2015 filings • 501(c)3 • $1M-$5M nonprofits • Annualized from 2014 to 2015

Balance Sheet
Liabilities / Assets50th percentile

Assets

Up

$2,415,131

Up $172,604 (+7.7%) from 2014

Net Assets

Up

$2,169,431

Up $50,392 (+2.4%) from 2014

Liabilities

Up

$245,700

Up $122,212 (+99%) from 2014

Revenue And Expenses
Liabilities / Revenue59th percentileNet Margin75th percentile

Revenue

Down

$1,397,204

Down $62,252 (-4.3%) from 2014

Expenses

Down

$1,178,397

Down $5,470 (-0.5%) from 2014

Net Income

Down

$218,807

Down $56,782 (-21%) from 2014

Historical Trend

Balance Sheet Trend

Asset Growth69th percentile

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

$30M$20M$10M$0Assets 2011: $1,399,014Liabilities 2011: $0Net Assets 2011: $1,399,0142011Assets 2012: $1,623,975Liabilities 2012: $101,354Net Assets 2012: $1,522,6212012Assets 2013: $1,882,692Liabilities 2013: $237,644Net Assets 2013: $1,645,0482013Assets 2014: $2,242,527Liabilities 2014: $123,488Net Assets 2014: $2,119,0392014Assets 2015: $2,415,131Liabilities 2015: $245,700Net Assets 2015: $2,169,4312015Assets 2016: $2,687,029Liabilities 2016: $662,974Net Assets 2016: $2,024,0552016Assets 2017: $6,648,513Liabilities 2017: $472,646Net Assets 2017: $6,175,8672017Assets 2018: $7,018,515Liabilities 2018: $533,431Net Assets 2018: $6,485,0842018Assets 2019: $8,130,804Liabilities 2019: $491,197Net Assets 2019: $7,639,6072019Assets 2020: $6,589,463Liabilities 2020: $753,950Net Assets 2020: $5,835,5132020Assets 2021: $17,494,339Liabilities 2021: $1,051,997Net Assets 2021: $16,442,3422021Assets 2022: $28,796,845Liabilities 2022: $995,392Net Assets 2022: $27,801,4532022Assets 2023: $26,277,320Liabilities 2023: $829,899Net Assets 2023: $25,447,4212023Assets 2024: $13,259,717Liabilities 2024: $621,564Net Assets 2024: $12,638,1532024Assets 2025: $11,362,110Liabilities 2025: $448,007Net Assets 2025: $10,914,1032025

Highlighted filing

2015

Assets$2,415,131
Liabilities$245,700
Net Assets$2,169,431
Open 2015 Filing

Operations Trend

Revenue Growth30th percentile

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

$20M$10M$0-$10M-$20MExpenses 2011: $1,129,7332011Expenses 2012: $1,139,5382012Expenses 2013: $1,401,5452013Revenue 2014: $1,459,456Expenses 2014: $1,183,867Net Income 2014: $275,5892014Revenue 2015: $1,397,204Expenses 2015: $1,178,397Net Income 2015: $218,8072015Revenue 2016: $1,705,218Expenses 2016: $1,782,150Net Income 2016: -$76,9322016Revenue 2017: $5,160,507Expenses 2017: $1,183,932Net Income 2017: $3,976,5752017Revenue 2018: $1,467,156Expenses 2018: $1,186,703Net Income 2018: $280,4532018Revenue 2019: $2,519,589Expenses 2019: $1,348,954Net Income 2019: $1,170,6352019Revenue 2020: $1,836,124Expenses 2020: $3,567,128Net Income 2020: -$1,731,0042020Revenue 2021: $13,531,757Expenses 2021: $3,774,075Net Income 2021: $9,757,6822021Revenue 2022: $15,847,172Expenses 2022: $2,178,373Net Income 2022: $13,668,7992022Revenue 2023: $4,573,461Expenses 2023: $7,672,708Net Income 2023: -$3,099,2472023Revenue 2024: $1,966,843Expenses 2024: $15,960,531Net Income 2024: -$13,993,6882024Revenue 2025: $4,482,976Expenses 2025: $6,547,124Net Income 2025: -$2,064,1482025

Highlighted filing

2015

Revenue$1,397,204
Expenses$1,178,397
Net Income$218,807
Open 2015 Filing
Jump To
Filing Snapshot
Filing Period
Jul 1, 2014 to Jun 30, 2015
Signed
Nov 16, 2015
Return Version
2014v5.0
Gross Receipts
$1,515,527
Mission and Program Overview

Mission

The organizations primary purpose is to raise private sector contributions for scholarships and improvements benefitting lake area technical college.

The organizations primary purpose is to raise private sector contributions for scholarships and improvements benefitting lake area technical institute.

Balance Sheet Detail
LineBeginningEndChange
Assets
Investments in Publicly Traded Securities$1,986,872$2,071,613▲ $84,741
Cash and Non-Interest-Bearing Accounts$81,501$238,187▲ $156,686
Accounts Receivable$83,365$62,725▼ $20,640
Savings and Temporary Cash Investments$88,364$37,006▼ $51,358
Pledges and Grants Receivable$2,425$5,600▲ $3,175
Total Assets$2,242,527$2,415,131▲ $172,604
Liabilities
Other Liabilities$123,488$245,700▲ $122,212
Total Liabilities$123,488$245,700▲ $122,212
Net Assets / Fund Balance
Permanently Rstr Net Assets$810,923$962,769▲ $151,846
Temporarily Rstr Net Assets$728,970$778,700▲ $49,730
Unrestricted Net Assets$579,146$427,962▼ $151,184
Total Net Assets Fund Balance$2,119,039$2,169,431▲ $50,392
Total Liabilities and Net Assets / Fund Balance$2,242,527$2,415,131▲ $172,604

Asset Categories

AssetBook ValueDepreciationBasis
Equipment-$3,405$3,405

Endowment Activity

PeriodBeginningContrib.Gain/LossOther UsesEnd
2014$1,539,893$745,790▲ $28,498$7,088$1,955,416
2013$1,333,799$466,237▲ $184,855$114,542$1,539,893
2012$1,062,204$549,197▲ $102,617$111,086$1,333,799
2011$1,125,544$309,047▼ $4,180$202,325$1,062,204
2010$1,062,269$219,267▲ $159,699$165,746$1,125,544
Compensation and Service Providers
Top Officer Pay57th percentile

Employees

NameTitleFull / Part TimeBaseOtherTotal
Julie StevensonExec. DirectorFT$32,500$43,300$75,800
Morgan FittsDev. OfficerFT$39,330$9,260$48,590

Board Members and Trustees

NameTitle
Curt TregoPresident
Jeff HeeschPresident-el
Corey MushitzDirector
Craig HornDirector
Ed MallettDirector
Jay BoomsmaDirector
Jeff PetersDirector
Jennifer VanlaeckenDirector
Jim BuhlerDirector
Jim SeurerDirector
John HopperDirector
Lee SchullDirector
Mark DunnDirector
Mark LeddyDirector
Shane CongerDirector
Tiffaney HolmDirector
Revenue and Support

Revenue Composition

Contributions and Grants
$1,159,524
Program Service Revenue
$0
Investment Income
$208,896
Other Revenue
$28,784
All Other Contributions
$1,061,612
Change in Net Assets
$218,807

Noncash Contribution Practices

Property subject to holding requirements
No
Reviewed unusual noncash gifts
Yes
Third parties used for noncash contributions
No

Noncash Contributions

Contribution TypeContribution CountReported AmountValuation Method
Other Non Cash Contri Table115$73,638Fair Market Value Est.
Total Noncash Contributions115$73,638-
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Grants and Similar Amounts Paid$532,395
Other Expenses$502,983
Salaries, Compensation, and Employee Benefits$128,771
Total Fundraising Expense$84,792
Professional Fundraising Fees$14,248

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Grants to Domestic Individuals$532,395--$532,395
Other Salaries and Wages$38,631$25,754$64,386$128,771
Fees for Services Professional Fundraising--$14,248$14,248
Office Expenses-$7,771-$7,771
All Other Expenses-$5,842$1,846$7,688
Fees for Service Investment Mgmnt Fees-$7,125-$7,125
Fees for Services Accounting-$4,747-$4,747
Advertising--$4,312$4,312
Other Expenses$9,787$3,250-$3,250
Total Functional Expenses$1,039,116$54,489$84,792$1,178,397
Fundraising, Events, and Gaming
Fundraising activities
Yes
Gaming activities
No
Professional fundraiser used
No

Fundraising and Gaming Totals

Line ItemAmount
Fundraising Gross Income$147,107
Fundraising Direct Expenses$118,323
Professional Fundraising Fees$14,248

Fundraising Events

EventGross ReceiptsGross RevenueDirect ExpensesNet Income
1965 Chevy Raff$58,488$58,488-$58,488
Fest. of Trees$139,294$41,382$27,766$13,616
Total Events$245,019$147,107$118,323$28,784
Political and Lobbying Activity
Political campaign activity
No
Lobbying activity
No
Subject to proxy tax
No
Debt and Bond Financing

Other Reported Liabilities

LiabilityAmount
Scholarships Payable$233,700
Build Dakota Funds Payable$12,000
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
Yes
Annual disclosure for covered persons
Yes
Audit committee
Yes
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
Yes
Other officer compensation reviewed
Yes
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

“Form 990 is reviewed by the finance committee before filing, and the finance committee will review form 990 in detail with the entire board if it is deemed necessary.”

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

“The conflicts of interest policy is reviewed annually, and each person is required to disclose potential conflicts. Potential conflicts preclude such a person from voting on those matters.”

Form 990, Page 6, Part VI, Line 15A

“The watertown school district reviews and sets the salaries of the individuals working for the lake area technical institute foundation, and then the foundation reimburses the watertown school district for one-half of the cost. Accordingly, a separate compensation review process is not necessary.”

Form 990, Page 6, Part VI, Line 15B

“SEE ANSWER TO 15B.”

Form 990, Page 6, Part VI, Line 19

“All such documents are available to the public upon request.”

Filing and Contact Details

Filer

Filer Name
Lake Area Technical
EIN
36-3860861
Phone
6058825284
Address
1201 ARROW AVE NE, WATERTOWN, SD 57201

Signing Officer

Name
Julie Stevenson
Title
Executive Director
Phone
6058825284
Signed
2015-11-16
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Julie Stevenson
Formed
1992
Legal Domicile
Sd
Voting Board Members
16
Independent Board Members
16
Employees
0

Preparer

Firm
Vilhauer Raml & Snyder Pc
Address
PO BOX 1267, WATERTOWN, SD 57201-6267
Preparer
Mary Antony
Phone
6058868425
Supplemental Narrative

Additional Explanations

Form 990

“Tax preparer's software requires a date acquired and date sold for all asset sales. The number of sales make individual reporting uneconomical. Therefore, arbitrary dates were entered to allow for e-filing, and details concerning the sales are in the taxpayer's possession.”

Raw XML AppendixShowing 400 of 578 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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IRS990/MissionDesc0THE ORGANIZATIONS PRIMARY PURPOSE IS TO RAISE PRIVATE SECTOR CONTRIBUTIONS FOR SCHOLARSHIPS AND IMPROVEMENTS BENEFITTING LAKE AREA TECHNICAL INSTITUTE.
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IRS990/PrincipalOfficerNm0JULIE STEVENSON
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IRS990/ProgSrvcAccomActy3Grp/Desc0FUNDING FOR CAMPUS IMPROVEMENTS.
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IRS990ScheduleA/PublicSupportPY170Pct00.93870
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IRS990ScheduleA/SubstantialContributorsTotAmt0105225
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IRS990ScheduleA/UnrelatedBusinessNetIncm170Grp/CurrentTaxYearAmt046476
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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
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IRS990ScheduleD/CYEndwmtFundGrp/ContributionsAmt0745790
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IRS990ScheduleD/CYEndwmtFundGrp/GrantsOrScholarshipsAmt0325487
IRS990ScheduleD/CYEndwmtFundGrp/InvestmentEarningsOrLossesAmt028498
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Document Assets

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Filings

Displayed year

2015 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$2,415,131
Liabilities
$245,700
Net assets
$2,169,431
Revenue
$1,397,204
Expenses
$1,178,397
Net income
$218,807
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2025Facts available. Structured filing facts are available, but richer extracted sections are limited.$11.4$0.45$10.9$4.48$6.55$2.06
2024Detailed filing. Detailed filing data is available for this year.$13.3$0.62$12.6$1.97$16.0$14.0
2023Detailed filing. Detailed filing data is available for this year.$26.3$0.83$25.4$4.57$7.67$3.10
2022Detailed filing. Detailed filing data is available for this year.$28.8$1.00$27.8$15.8$2.18$13.7
2021Detailed filing. Detailed filing data is available for this year.$17.5$1.05$16.4$13.5$3.77$9.76
2020Detailed filing. Detailed filing data is available for this year.$6.59$0.75$5.84$1.84$3.57$1.73
2019Detailed filing. Detailed filing data is available for this year.$8.13$0.49$7.64$2.52$1.35$1.17
2018Detailed filing. Detailed filing data is available for this year.$7.02$0.53$6.49$1.47$1.19$0.28
2017Detailed filing. Detailed filing data is available for this year.$6.65$0.47$6.18$5.16$1.18$3.98
2016Detailed filing. Detailed filing data is available for this year.$2.69$0.66$2.02$1.71$1.78$0.08
2015Detailed filing. Detailed filing data is available for this year.$2.42$0.25$2.17$1.40$1.18$0.22
2014Detailed filing. Detailed filing data is available for this year.$2.24$0.12$2.12$1.46$1.18$0.28
2013Facts available. Structured filing facts are available, but richer extracted sections are limited.$1.88$0.24$1.65$1.40
2012Facts available. Structured filing facts are available, but richer extracted sections are limited.$1.62$0.10$1.52$1.14
2011Facts available. Structured filing facts are available, but richer extracted sections are limited.$1.40$0.00$1.40$1.13