Civic Intelligence

Walter E Olson Memorial Library Foundation Inc.

990 • Fiscal year 2014 • EIN 39-1740131

Jan 01, 2014 to Dec 31, 2014 • Filed on Sep 29, 2015

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

0.90x

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

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

Liabilities / Revenue

100th percentile

39.19x

Higher debt load relative to revenue than 100% of similar nonprofits.

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

Net Margin

97th percentile

78%

Higher net margin than 97% 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

87th percentile

31%

Faster asset growth than 87% of similar nonprofits.

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

Revenue Growth

2nd percentile

-71%

Faster revenue growth than 2% of similar nonprofits.

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

Balance Sheet
Liabilities / Assets89th percentile

Assets

Up

$1,428,384

Up $341,846 (+31%) from 2013

Net Assets

Up

$148,669

Up $25,452 (+21%) from 2013

Liabilities

Up

$1,279,715

Up $316,394 (+33%) from 2013

Revenue And Expenses
Liabilities / Revenue100th percentileNet Margin97th percentile

Revenue

Down

$32,655

Down $78,595 (-71%) from 2013

Expenses

Up

$7,203

Up $5,421 (+304%) from 2013

Net Income

Down

$25,452

Down $84,016 (-77%) from 2013

Historical Trend

Balance Sheet Trend

Asset Growth87th 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

2014

Assets$1,428,384
Liabilities$1,279,715
Net Assets$148,669
Open 2014 Filing

Operations Trend

Revenue Growth2nd 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

2014

Revenue$32,655
Expenses$7,203
Net Income$25,452
Open 2014 Filing
Jump To
Filing Snapshot
Filing Period
Jan 1, 2014 to Dec 31, 2014
Signed
Sep 29, 2015
Return Version
2014v5.0
Gross Receipts
$37,290
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$704,539$1,234,133▲ $529,594
Pledges and Grants Receivable$381,999$194,251▼ $187,748
Total Assets$1,086,538$1,428,384▲ $341,846
Liabilities
Escrow Account Liability$963,321$1,279,715▲ $316,394
Total Liabilities$963,321$1,279,715▲ $316,394
Net Assets / Fund Balance
Unrestricted Net Assets$23,217$148,669▲ $125,452
Temporarily Rstr Net Assets$100,000$0▼ $100,000
Total Net Assets Fund Balance$123,217$148,669▲ $25,452
Total Liabilities and Net Assets / Fund Balance$1,086,538$1,428,384▲ $341,846
Compensation and Service Providers
Top Officer Pay34th percentile

Board Members and Trustees

NameTitle
Nancy SchafferPresident
Tina KollerVice President
Connie OlsonBoard Member
Debra ObrodovichBoard Member
Jan ChristoffersonBoard Member
John HletkoBoard Member
Laurie StoegbauerBoard Member
Nancy SchullerBoard Member
Norma YaegerBoard Member
Philip JensenBoard Member
Darleen KadulskiSecretary
Lee LiermannTreasurer
Revenue and Support

Revenue Composition

Contributions and Grants
$20,485
Program Service Revenue
$0
Investment Income
$1,896
Other Revenue
$10,274
All Other Contributions
$20,485
Change in Net Assets
$25,452
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$7,203
Total Fundraising Expense$800
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Salaries, Compensation, and Employee Benefits$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Fees for Services Accounting-$4,050-$4,050
Other Expenses-$526$800$1,326
Office Expenses-$259-$259
Insurance-$63-$63
Total Functional Expenses$0$6,403$800$7,203
Fundraising, Events, and Gaming
Fundraising activities
No
Gaming activities
No
Professional fundraiser used
No

Fundraising and Gaming Totals

Line ItemAmount
Fundraising Gross Income$14,909
Fundraising Direct Expenses$4,635
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
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

Filer Name
Walter E Olson Memorial Library Foundation Inc
EIN
39-1740131
Phone
7154798070
Address
PO BOX 69, EAGLE RIVER, WI 54521

Signing Officer

Name
Lee Liermann
Title
Treasurer
Phone
7154798070
Signed
2015-09-29
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Lee Liermann
Formed
1992
Legal Domicile
Wi
Voting Board Members
12
Independent Board Members
12
Employees
0
Volunteers
0

Preparer

Firm
Wipfli Llp
Address
43A W DAVENPORT ST, RHINELANDER, WI 54501
Preparer
Randall H Beard CPA
Phone
7153691040
Supplemental Narrative

Financial Statement Notes

PART IV, LINE 2B:

“Ownership of the library transferred from the city of eagle river to the town of lincoln during 2014. The foundation is acting as an agent for the town of lincoln for the capital expansion of the walter e. Olson memorial library. In that capacity, it is collecting contributions and disbursing funds related to the project. The unspent assets held on behalf of the town are reported as a liability.”

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.”

Raw XML Appendix373 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/AgentTrusteeEtcInd01
IRS990ScheduleD/BeginningBalanceAmt0963321
IRS990ScheduleD/DistributionsDuringYearAmt014261
IRS990ScheduleD/EndingBalanceAmt01279715
IRS990ScheduleD/ExplanationProvidedInd0X
IRS990ScheduleD/FootnoteTextInd0X
IRS990ScheduleD/InclEscrowCustodialAcctLiabInd01
IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt0OWNERSHIP OF THE LIBRARY TRANSFERRED FROM THE CITY OF EAGLE RIVER TO THE TOWN OF LINCOLN DURING 2014. THE FOUNDATION IS ACTING AS AN AGENT FOR THE TOWN OF LINCOLN FOR THE CAPITAL EXPANSION OF THE WALTER E. OLSON MEMORIAL LIBRARY. IN THAT CAPACITY, IT IS COLLECTING CONTRIBUTIONS AND DISBURSING FUNDS RELATED TO THE PROJECT. THE UNSPENT ASSETS HELD ON BEHALF OF THE TOWN ARE REPORTED AS A LIABILITY.
IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt1THE 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.
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc0PART IV, LINE 2B:
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc1PART X, LINE 2:
IRS990ScheduleD/TotalBookValueLandBuildingsAmt00
IRS990/ScheduleJRequiredInd00
IRS990/ScheduleORequiredInd01
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/FormAndLineReferenceDesc0FORM 990, PART VI, SECTION B, LINE 11
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1FORM 990, PART VI, SECTION C, LINE 19
IRS990/SchoolOperatingInd00
IRS990/SignificantChangeInd00
IRS990/SignificantNewProgramSrvcInd00
IRS990/StatesWhereCopyOfReturnIsFldCd0WI
IRS990/SubjectToProxyTaxInd00
IRS990/TaxablePartyNotificationInd00
IRS990/TaxExemptBondsInd00
IRS990/TemporarilyRstrNetAssetsGrp/BOYAmt0100000
IRS990/TemporarilyRstrNetAssetsGrp/EOYAmt00
IRS990/TempOrPermanentEndowmentsInd00
IRS990/TerminateOperationsInd00
IRS990/TotalAssetsBOYAmt01086538
IRS990/TotalAssetsEOYAmt01428384
IRS990/TotalAssetsGrp/BOYAmt01086538
IRS990/TotalAssetsGrp/EOYAmt01428384
IRS990/TotalCompGreaterThan150KInd00
IRS990/TotalContributionsAmt020485
IRS990/TotalEmployeeCnt00
IRS990/TotalFunctionalExpensesGrp/FundraisingAmt0800
IRS990/TotalFunctionalExpensesGrp/ManagementAndGeneralAmt06403
IRS990/TotalFunctionalExpensesGrp/ProgramServicesAmt00
IRS990/TotalFunctionalExpensesGrp/TotalAmt07203
IRS990/TotalGrossUBIAmt00
IRS990/TotalLiabilitiesBOYAmt0963321
IRS990/TotalLiabilitiesEOYAmt01279715
IRS990/TotalLiabilitiesGrp/BOYAmt0963321
IRS990/TotalLiabilitiesGrp/EOYAmt01279715
IRS990/TotalNetAssetsFundBalanceGrp/BOYAmt0123217
IRS990/TotalNetAssetsFundBalanceGrp/EOYAmt0148669
IRS990/TotalOtherCompensationAmt00
IRS990/TotalReportableCompFromOrgAmt00
IRS990/TotalRevenueGrp/ExclusionAmt012170
IRS990/TotalRevenueGrp/RelatedOrExemptFuncIncomeAmt00
IRS990/TotalRevenueGrp/TotalRevenueColumnAmt032655
IRS990/TotalRevenueGrp/UnrelatedBusinessRevenueAmt00
IRS990/TotalVolunteersCnt00
IRS990/TotLiabNetAssetsFundBalanceGrp/BOYAmt01086538
IRS990/TotLiabNetAssetsFundBalanceGrp/EOYAmt01428384
IRS990/TotReportableCompRltdOrgAmt00
IRS990/TrnsfrExmptNonChrtblRltdOrgInd00
IRS990/TypeOfOrganizationCorpInd0X
IRS990/UnrelatedBusIncmOverLimitInd00
IRS990/UnrestrictedNetAssetsGrp/BOYAmt023217
IRS990/UnrestrictedNetAssetsGrp/EOYAmt0148669
IRS990/UponRequestInd0X
IRS990/USAddress/AddressLine1Txt0PO BOX 69
IRS990/USAddress/CityNm0EAGLE RIVER
IRS990/USAddress/StateAbbreviationCd0WI
IRS990/USAddress/ZIPCd054521
IRS990/VotingMembersGoverningBodyCnt012
IRS990/VotingMembersIndependentCnt012
IRS990/WebsiteAddressTxt0WWW.OLSON.WISLIB.ORG
IRS990/WhistleblowerPolicyInd00
ReturnHeader/BuildTS02016-03-07 17:11:31Z
ReturnHeader/BusinessOfficerGrp/DiscussWithPaidPreparerInd01
ReturnHeader/BusinessOfficerGrp/PersonNm0LEE LIERMANN
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0TREASURER
ReturnHeader/BusinessOfficerGrp/PhoneNum07154798070
ReturnHeader/BusinessOfficerGrp/SignatureDt02015-09-29
ReturnHeader/Filer/BusinessName/BusinessNameLine1Txt0WALTER E OLSON MEMORIAL LIBRARY FOUNDATION INC
ReturnHeader/Filer/BusinessNameControlTxt0WALT
ReturnHeader/Filer/EIN0391740131
ReturnHeader/Filer/PhoneNum07154798070
ReturnHeader/Filer/USAddress/AddressLine1Txt0PO BOX 69
ReturnHeader/Filer/USAddress/CityNm0EAGLE RIVER
ReturnHeader/Filer/USAddress/StateAbbreviationCd0WI
ReturnHeader/Filer/USAddress/ZIPCd054521
ReturnHeader/PreparerFirmGrp/PreparerFirmEIN0390758449
ReturnHeader/PreparerFirmGrp/PreparerFirmName/BusinessNameLine1Txt0WIPFLI LLP
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/AddressLine1Txt043A W DAVENPORT ST
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/CityNm0RHINELANDER
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/StateAbbreviationCd0WI
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/ZIPCd054501
ReturnHeader/PreparerPersonGrp/PhoneNum07153691040
ReturnHeader/PreparerPersonGrp/PreparationDt02015-09-29
ReturnHeader/PreparerPersonGrp/PreparerPersonNm0RANDALL H BEARD CPA
ReturnHeader/ReturnTs02015-09-30T11:52:05-05:00
ReturnHeader/ReturnTypeCd0990
ReturnHeader/TaxPeriodBeginDt02014-01-01
ReturnHeader/TaxPeriodEndDt02014-12-31
ReturnHeader/TaxYr02014

Document Assets

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Filings

Displayed year

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

Open filing
Assets
$1,428,384
Liabilities
$1,279,715
Net assets
$148,669
Revenue
$32,655
Expenses
$7,203
Net income
$25,452
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