Civic Intelligence

Walter E Olson Memorial Library Foundation Inc.

990 • Fiscal year 2013 • EIN 39-1740131

Jan 01, 2013 to Dec 31, 2013 • Filed on Jun 25, 2014

Organization ProfileWWW.OLSON.WISLIB.ORG
PO Box 69Eagle River, WI 54521

(715) 479-8070

Siviq Scores

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

Liabilities / Assets

89th percentile

0.89x

Higher debt load relative to assets than 89% of similar nonprofits.

2013 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2013

Liabilities / Revenue

97th percentile

8.66x

Higher debt load relative to revenue than 97% of similar nonprofits.

2013 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2013

Net Margin

99th percentile

98%

Higher net margin than 99% of similar nonprofits.

2013 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2013

Top Officer Pay

38th percentile

$0

Higher top officer pay than 38% of similar nonprofits.

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

2013 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2013

Asset Growth

95th percentile

88%

Faster asset growth than 95% of similar nonprofits.

2013 filings • 501(c)3 • $1M-$5M nonprofits • Annualized from 2012 to 2013

Revenue Growth

3rd percentile

-58%

Faster revenue growth than 3% of similar nonprofits.

2013 filings • 501(c)3 • $1M-$5M nonprofits • Annualized from 2012 to 2013

Balance Sheet
Liabilities / Assets89th percentile

Assets

Up

$1,086,538

Up $508,199 (+88%) from 2012

Net Assets

Down

$123,217

Down $455,122 (-79%) from 2012

Liabilities

Up

$963,321

Up $963,321 from 2012

Revenue And Expenses
Liabilities / Revenue97th percentileNet Margin99th percentile

Revenue

Down

$111,250

Down $152,764 (-58%) from 2012

Expenses

Down

$1,782

Down $58,119 (-97%) from 2012

Net Income

Down

$109,468

Down $94,645 (-46%) from 2012

Historical Trend

Balance Sheet Trend

Asset Growth95th percentile

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

$4.0M$3.0M$2.0M$1.0M$0Assets 2011: $374,226Liabilities 2011: $0Net Assets 2011: $374,2262011Assets 2012: $578,339Liabilities 2012: $0Net Assets 2012: $578,3392012Assets 2013: $1,086,538Liabilities 2013: $963,321Net Assets 2013: $123,2172013Assets 2014: $1,428,384Liabilities 2014: $1,279,715Net Assets 2014: $148,6692014Assets 2015: $1,494,998Liabilities 2015: $1,321,096Net Assets 2015: $173,9022015Assets 2016: $2,862,219Liabilities 2016: $0Net Assets 2016: $2,862,2192016Assets 2017: $3,788,862Liabilities 2017: $533,700Net Assets 2017: $3,255,1622017Assets 2018: $3,396,651Liabilities 2018: $220,000Net Assets 2018: $3,176,6512018Assets 2019: $3,189,029Liabilities 2019: $100,000Net Assets 2019: $3,089,0292019Assets 2020: $3,045,781Liabilities 2020: $50,000Net Assets 2020: $2,995,7812020Assets 2021: $59,737Liabilities 2021: $0Net Assets 2021: $59,7372021

Highlighted filing

2013

Assets$1,086,538
Liabilities$963,321
Net Assets$123,217
Open 2013 Filing

Operations Trend

Revenue Growth3rd percentile

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

$3.0M$2.0M$1.0M$0-$1.0MExpenses 2011: $147,0552011Revenue 2012: $264,014Expenses 2012: $59,901Net Income 2012: $204,1132012Revenue 2013: $111,250Expenses 2013: $1,782Net Income 2013: $109,4682013Revenue 2014: $32,655Expenses 2014: $7,203Net Income 2014: $25,4522014Revenue 2015: $35,264Expenses 2015: $10,031Net Income 2015: $25,2332015Revenue 2016: $2,691,463Expenses 2016: $3,146Net Income 2016: $2,688,3172016Revenue 2017: $409,670Expenses 2017: $16,727Net Income 2017: $392,9432017Revenue 2018: $58,772Expenses 2018: $137,283Net Income 2018: -$78,5112018Revenue 2019: $40,980Expenses 2019: $128,602Net Income 2019: -$87,6222019Revenue 2020: $42,469Expenses 2020: $135,717Net Income 2020: -$93,2482020Revenue 2021: $42,755Expenses 2021: $131,722Net Income 2021: -$88,9672021

Highlighted filing

2013

Revenue$111,250
Expenses$1,782
Net Income$109,468
Open 2013 Filing
Jump To
Filing Snapshot
Filing Period
Jan 1, 2013 to Dec 31, 2013
Signed
Jun 25, 2014
Return Version
2013v3.0
Gross Receipts
$116,812
Mission and Program Overview

Mission

To augment the library as a learning and information resource for the citizens of eagle river and the surrounding townships above and beyond the financial support provided by annual tax revenues.

Balance Sheet Detail
LineBeginningEndChange
Assets
Cash and Non-Interest-Bearing Accounts$339,362$704,539▲ $365,177
Pledges and Grants Receivable$238,977$381,999▲ $143,022
Total Assets$578,339$1,086,538▲ $508,199
Liabilities
Other Liabilities$0$963,321▲ $963,321
Total Liabilities$0$963,321▲ $963,321
Net Assets / Fund Balance
Temporarily Rstr Net Assets$563,591$100,000▼ $463,591
Unrestricted Net Assets$14,748$23,217▲ $8,469
Total Net Assets Fund Balance$578,339$123,217▼ $455,122
Total Liabilities and Net Assets / Fund Balance$578,339$1,086,538▲ $508,199
Compensation and Service Providers
Top Officer Pay38th percentile

Board Members and Trustees

NameTitle
Nancy SchafferPresident
Debra ObrodovichVice President
Connie OlsonBoard Member
Jan ChristoffersonBoard Member
John HletkoBoard Member
Nancy SchullerBoard Member
Phil JensenBoard Member
Tina KollerBoard Member
Dar KadulskiSecretary
Fred PrangeTreasurer
Revenue and Support

Revenue Composition

Contributions and Grants
$101,755
Program Service Revenue
$0
Investment Income
$1,249
Other Revenue
$8,246
All Other Contributions
$101,755
Change in Net Assets
$109,468
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$1,782
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
Fees for Services Accounting-$649-$649
Insurance-$625-$625
Office Expenses-$105-$105
Other Expenses-$79-$79
Total Functional Expenses$0$1,782$0$1,782
Fundraising, Events, and Gaming
Fundraising activities
No
Gaming activities
No
Professional fundraiser used
No

Fundraising and Gaming Totals

Line ItemAmount
Fundraising Gross Income$13,808
Fundraising Direct Expenses$5,562
Professional Fundraising Fees$0
Political and Lobbying Activity
Political campaign activity
No
Lobbying activity
No
Subject to proxy tax
No
Debt and Bond Financing

Other Reported Liabilities

LiabilityAmount
Due to Other Agencies$963,321
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
Yes
Audit committee
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 B, Line 11

“The organization's treasurer reviews form 990 prior to filing. The form 990 is then reviewed by the board of directors after it is filed.”

Form 990, Part VI, Section C, Line 19

“The organizations documents are available upon request.”

Filing and Contact Details

Filer

EIN
39-1740131
Phone
7154798070

Signing Officer

Name
Fred Prange
Title
Treasurer
Phone
7154798070
Signed
2014-06-25
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Fred Prange
Formed
1992
Legal Domicile
Wi
Voting Board Members
10
Independent Board Members
10
Employees
0
Volunteers
0

Preparer

Preparer
Randall H Beard CPA
Phone
7153691040
Supplemental Narrative

Additional Explanations

FORM 990, PART XI, LINE 8:

“Prior period restatement relates to reclassifiy amounts due to other agency that was posted to prior years revenue.”

Financial Statement Notes

PART X, LINE 2:

“The foundation is a nonprofit organization as described in section 501(c)(3) of the internal revenue code (the "code") and is exempt from federal income taxes on related income pursuant to section 501(a) of the code. The foundation is also exempt from wisconsin income taxes on related income. The foundation is required to assess whether it is more likely than not that a tax position will be sustained upon examination of the technical merits or the position, assuming the taxing authority has full knowledge of all information. If the tax position does not meet the more likely than not recognition threshold, the benefit of the tax position is not recognized in the financial statements. The foundation has determined there are no amounts to record as assets or liabilities related to uncertain tax positions. Federal returns for the years ended 2010 and thereafter remain subject to examiniation by major tax jurisdictions.”

Raw XML Appendix355 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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IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt0THE FOUNDATION IS A NONPROFIT ORGANIZATION AS DESCRIBED IN SECTION 501(C)(3) OF THE INTERNAL REVENUE CODE (THE "CODE") AND IS EXEMPT FROM FEDERAL INCOME TAXES ON RELATED INCOME PURSUANT TO SECTION 501(A) OF THE CODE. THE FOUNDATION IS ALSO EXEMPT FROM WISCONSIN INCOME TAXES ON RELATED INCOME. THE FOUNDATION IS REQUIRED TO ASSESS WHETHER IT IS MORE LIKELY THAN NOT THAT A TAX POSITION WILL BE SUSTAINED UPON EXAMINATION OF THE TECHNICAL MERITS OR THE POSITION, ASSUMING THE TAXING AUTHORITY HAS FULL KNOWLEDGE OF ALL INFORMATION. IF THE TAX POSITION DOES NOT MEET THE MORE LIKELY THAN NOT RECOGNITION THRESHOLD, THE BENEFIT OF THE TAX POSITION IS NOT RECOGNIZED IN THE FINANCIAL STATEMENTS. THE FOUNDATION HAS DETERMINED THERE ARE NO AMOUNTS TO RECORD AS ASSETS OR LIABILITIES RELATED TO UNCERTAIN TAX POSITIONS. FEDERAL RETURNS FOR THE YEARS ENDED 2010 AND THEREAFTER REMAIN SUBJECT TO EXAMINIATION BY MAJOR TAX JURISDICTIONS.
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IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0THE ORGANIZATION'S TREASURER REVIEWS FORM 990 PRIOR TO FILING. THE FORM 990 IS THEN REVIEWED BY THE BOARD OF DIRECTORS AFTER IT IS FILED.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1THE ORGANIZATIONS DOCUMENTS ARE AVAILABLE UPON REQUEST.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2PRIOR PERIOD RESTATEMENT RELATES TO RECLASSIFIY AMOUNTS DUE TO OTHER AGENCY THAT WAS POSTED TO PRIOR YEARS REVENUE.
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0FORM 990, PART VI, SECTION B, LINE 11
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1FORM 990, PART VI, SECTION C, LINE 19
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2FORM 990, PART XI, LINE 8:
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IRS990/TotalOtherCompensationAmt00
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IRS990/TotalRevenueGrp/RelatedOrExemptFuncIncomeAmt00
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IRS990/USAddress/State0WI
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IRS990/VotingMembersIndependentCnt010
IRS990/WebsiteAddressTxt0WWW.OLSON.WISLIB.ORG
IRS990/WhistleblowerPolicyInd00
ReturnHeader/BuildTS02015-11-30 17:44:51Z
ReturnHeader/BusinessOfficerGrp/DiscussWithPaidPreparerInd01
ReturnHeader/BusinessOfficerGrp/PersonNm0FRED PRANGE
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0TREASURER
ReturnHeader/BusinessOfficerGrp/PhoneNum07154798070
ReturnHeader/BusinessOfficerGrp/SignatureDt02014-06-25
ReturnHeader/Filer/BusinessName/BusinessNameLine10WALTER E OLSON MEMORIAL LIBRARY FOUNDATION INC
ReturnHeader/Filer/BusinessNameControlTxt0WALT
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ReturnHeader/Filer/PhoneNum07154798070
ReturnHeader/Filer/USAddress/AddressLine10PO BOX 69
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ReturnHeader/PreparerFirmGrp/PreparerFirmEIN0390758449
ReturnHeader/PreparerFirmGrp/PreparerFirmName/BusinessNameLine10WIPFLI LLP
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/AddressLine1043A W DAVENPORT ST
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/City0RHINELANDER
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/State0WI
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/ZIPCode054501
ReturnHeader/PreparerPersonGrp/PhoneNum07153691040
ReturnHeader/PreparerPersonGrp/PreparationDt02014-06-25
ReturnHeader/PreparerPersonGrp/PreparerPersonNm0RANDALL H BEARD CPA
ReturnHeader/ReturnTs02014-07-07T10:30:38-05:00
ReturnHeader/ReturnTypeCd0990
ReturnHeader/TaxPeriodBeginDt02013-01-01
ReturnHeader/TaxPeriodEndDt02013-12-31
ReturnHeader/TaxYr02013

Document Assets

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Filings

Displayed year

2013 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$1,086,538
Liabilities
$963,321
Net assets
$123,217
Revenue
$111,250
Expenses
$1,782
Net income
$109,468
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2021Detailed filing. Detailed filing data is available for this year.$0.06$0.00$0.06$0.04$0.13$0.09
2020Detailed filing. Detailed filing data is available for this year.$3.05$0.05$3.00$0.04$0.14$0.09
2019Detailed filing. Detailed filing data is available for this year.$3.19$0.10$3.09$0.04$0.13$0.09
2018Detailed filing. Detailed filing data is available for this year.$3.40$0.22$3.18$0.06$0.14$0.08
2017Detailed filing. Detailed filing data is available for this year.$3.79$0.53$3.26$0.41$0.02$0.39
2016Detailed filing. Detailed filing data is available for this year.$2.86$0.00$2.86$2.69$0.00$2.69
2015Detailed filing. Detailed filing data is available for this year.$1.49$1.32$0.17$0.04$0.01$0.03
2014Detailed filing. Detailed filing data is available for this year.$1.43$1.28$0.15$0.03$0.01$0.03
2013Detailed filing. Detailed filing data is available for this year.$1.09$0.96$0.12$0.11$0.00$0.11
2012Summary only. Only limited summary data is available for this year.$0.58$0.00$0.58$0.26$0.06$0.20
2011Facts available. Structured filing facts are available, but richer extracted sections are limited.$0.37$0.00$0.37$0.15