Civic Intelligence

Walter E Olson Memorial Library Foundation Inc.

990 • Fiscal year 2019 • EIN 39-1740131

Jan 01, 2019 to Dec 31, 2019 • Filed on Nov 09, 2020

Organization ProfileOLSONLIBRARYFOUNDATION.ORG
PO Box 1076Eagle River, WI 54521

(715) 479-8070

Siviq Scores

Scores are not available for this record yet.

Balance Sheet

Assets

Down

$3,189,029

Down $207,622 (-6.1%) from 2018

Net Assets

Down

$3,089,029

Down $87,622 (-2.8%) from 2018

Liabilities

Down

$100,000

Down $120,000 (-55%) from 2018

Revenue And Expenses

Revenue

Down

$40,980

Down $17,792 (-30%) from 2018

Expenses

Down

$128,602

Down $8,681 (-6.3%) from 2018

Net Income

Down

-$87,622

Down $9,111 (-12%) from 2018

Historical Trend

Balance Sheet Trend

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

2019

Assets$3,189,029
Liabilities$100,000
Net Assets$3,089,029
Open 2019 Filing

Operations Trend

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

2019

Revenue$40,980
Expenses$128,602
Net Income-$87,622
Open 2019 Filing
Jump To
Filing Snapshot
Filing Period
Jan 1, 2019 to Dec 31, 2019
Signed
Nov 9, 2020
Return Version
2019v5.1
Gross Receipts
$45,317
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
Land, Buildings, and Equipment, Net$3,221,351$3,096,593▼ $124,758
Loans From Officers Directors$220,000$100,000▼ $120,000
Cash and Non-Interest-Bearing Accounts$157,390$58,476▼ $98,914
Pledges and Grants Receivable$17,910$32,910▲ $15,000
Accounts Receivable-$1,050-
Total Assets$3,396,651$3,189,029▼ $207,622
Liabilities
Total Liabilities$220,000$100,000▼ $120,000
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$3,176,651$3,089,029▼ $87,622
Total Net Assets Fund Balance$3,176,651$3,089,029▼ $87,622
Total Liabilities and Net Assets / Fund Balance$3,396,651$3,189,029▼ $207,622

Asset Categories

AssetBook ValueDepreciationBasis
Buildings$2,716,841$202,622$2,919,463
Equipment$217,252$57,171$274,423
Land$162,500-$162,500
Compensation and Service Providers

Board Members and Trustees

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

Revenue Composition

Contributions and Grants
$31,260
Program Service Revenue
$0
Investment Income
$69
Other Revenue
$9,651
All Other Contributions
$24,100
Change in Net Assets
$-87,622
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$128,602
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
Depreciation Depletion-$124,758-$124,758
Fees for Services Other$2,400--$2,400
Insurance-$750-$750
Office Expenses-$168-$168
Other Expenses-$54-$54
Total Functional Expenses$2,400$126,202$0$128,602
Fundraising, Events, and Gaming
Fundraising activities
Yes
Gaming activities
No
Professional fundraiser used
No

Fundraising and Gaming Totals

Line ItemAmount
Fundraising Gross Income$12,950
Fundraising Direct Expenses$4,337
Gaming Gross Income$1,038
Gaming Direct Expenses$0
Professional Fundraising Fees$0

Fundraising Events

EventGross ReceiptsGross RevenueDirect ExpensesNet Income
Golf Tournament$15,650$8,490$2,173$6,317
Brick Campaign$2,895$2,895$1,182$1,713
Total Events$20,110$12,950$4,337$8,613
Political and Lobbying Activity
Political campaign activity
No
Lobbying activity
No
Subject to proxy tax
No
Insider Transactions and Loans

Loans and Receivables

Line ItemBeginningEndChange
Loans from Officers, Directors, Trustees, and Key Employees$220,000$100,000▼ $120,000
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
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
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 11B

“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
EIN
39-1740131
Phone
7154798070
Address
PO BOX 1076, EAGLE RIVER, WI 54521

Signing Officer

Name
Lee Liermann
Title
Treasurer
Phone
7154798070
Signed
2020-11-09
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Nancy Schaffer
Formed
1992
Legal Domicile
Wi
Voting Board Members
12
Independent Board Members
12
Employees
0
Volunteers
13

Preparer

Firm
Wipfli Llp
Address
PO BOX 12237, GREEN BAY, WI 54307-2237
Preparer
Terri Rexrode CPA Mst
Phone
9206620016
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IRS990ScheduleD/BuildingsGrp/DepreciationAmt0202622
IRS990ScheduleD/BuildingsGrp/OtherCostOrOtherBasisAmt02919463
IRS990ScheduleD/EquipmentGrp/BookValueAmt0217252
IRS990ScheduleD/EquipmentGrp/DepreciationAmt057171
IRS990ScheduleD/EquipmentGrp/OtherCostOrOtherBasisAmt0274423
IRS990ScheduleD/LandGrp/BookValueAmt0162500
IRS990ScheduleD/LandGrp/OtherCostOrOtherBasisAmt0162500
IRS990ScheduleD/TotalBookValueLandBuildingsAmt03096593
IRS990ScheduleG/FundraisingEventInformationGrp/CharitableContributionsTotAmt07160
IRS990ScheduleG/FundraisingEventInformationGrp/CharitableContriEvent1Amt07160
IRS990ScheduleG/FundraisingEventInformationGrp/DirectExpenseSummaryEventsAmt04337
IRS990ScheduleG/FundraisingEventInformationGrp/Event1Nm0GOLF TOURNAMENT
IRS990ScheduleG/FundraisingEventInformationGrp/Event2Nm0BRICK CAMPAIGN
IRS990ScheduleG/FundraisingEventInformationGrp/FoodAndBeverageEvent1Amt0662
IRS990ScheduleG/FundraisingEventInformationGrp/FoodAndBeverageTotalEventsAmt0662
IRS990ScheduleG/FundraisingEventInformationGrp/GrossReceiptsEvent1Amt015650
IRS990ScheduleG/FundraisingEventInformationGrp/GrossReceiptsEvent2Amt02895
IRS990ScheduleG/FundraisingEventInformationGrp/GrossReceiptsOtherEventsAmt01565
IRS990ScheduleG/FundraisingEventInformationGrp/GrossReceiptsTotalAmt020110
IRS990ScheduleG/FundraisingEventInformationGrp/GrossRevenueEvent1Amt08490
IRS990ScheduleG/FundraisingEventInformationGrp/GrossRevenueEvent2Amt02895
IRS990ScheduleG/FundraisingEventInformationGrp/GrossRevenueOtherEventsAmt01565
IRS990ScheduleG/FundraisingEventInformationGrp/GrossRevenueTotalEventsAmt012950
IRS990ScheduleG/FundraisingEventInformationGrp/NetIncomeSummaryAmt08613
IRS990ScheduleG/FundraisingEventInformationGrp/NonCashPrizesEvent1Amt0320
IRS990ScheduleG/FundraisingEventInformationGrp/NonCashPrizesTotalEventsAmt0320
IRS990ScheduleG/FundraisingEventInformationGrp/OthDirectExpnssTotalEventsAmt03355
IRS990ScheduleG/FundraisingEventInformationGrp/OtherDirectExpensesEvent1Amt02173
IRS990ScheduleG/FundraisingEventInformationGrp/OtherDirectExpensesEvent2Amt01182
IRS990ScheduleG/FundraisingEventInformationGrp/OtherEventsTotalCnt01
IRS990/ScheduleJRequiredInd00
IRS990ScheduleL/LoansBtwnOrgInterestedPrsnGrp/BalanceDueAmt0100000
IRS990ScheduleL/LoansBtwnOrgInterestedPrsnGrp/BoardOrCommitteeApprovalInd01
IRS990ScheduleL/LoansBtwnOrgInterestedPrsnGrp/BusinessName/BusinessNameLine1Txt0TAWANI FOUNDATION
IRS990ScheduleL/LoansBtwnOrgInterestedPrsnGrp/DefaultInd00
IRS990ScheduleL/LoansBtwnOrgInterestedPrsnGrp/LoanPurposeTxt0PURCHASE LIBRARY FURNISHINGS
IRS990ScheduleL/LoansBtwnOrgInterestedPrsnGrp/LoanToOrganizationInd0X
IRS990ScheduleL/LoansBtwnOrgInterestedPrsnGrp/OriginalPrincipalAmt0220000
IRS990ScheduleL/LoansBtwnOrgInterestedPrsnGrp/RelationshipWithOrgTxt0MATERIAL CONTRIBUTOR
IRS990ScheduleL/LoansBtwnOrgInterestedPrsnGrp/WrittenAgreementInd01
IRS990ScheduleL/TotalBalanceDueAmt0100000
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 11B
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1FORM 990, PART VI, SECTION C, LINE 19
IRS990/SchoolOperatingInd00
IRS990/SignificantChangeInd00
IRS990/SignificantNewProgramSrvcInd00
IRS990/StatesWhereCopyOfReturnIsFldCd0WI
IRS990/SubjectToExcsTaxNetInvstIncInd00
IRS990/SubjectToProxyTaxInd00
IRS990/SubjToTaxRmnrtnExPrchtPymtInd00
IRS990/TaxablePartyNotificationInd00
IRS990/TaxExemptBondsInd00
IRS990/TerminateOperationsInd00
IRS990/TotalAssetsBOYAmt03396651
IRS990/TotalAssetsEOYAmt03189029
IRS990/TotalAssetsGrp/BOYAmt03396651
IRS990/TotalAssetsGrp/EOYAmt03189029
IRS990/TotalCompGreaterThan150KInd00
IRS990/TotalContributionsAmt031260
IRS990/TotalEmployeeCnt00
IRS990/TotalFunctionalExpensesGrp/FundraisingAmt00
IRS990/TotalFunctionalExpensesGrp/ManagementAndGeneralAmt0126202
IRS990/TotalFunctionalExpensesGrp/ProgramServicesAmt02400
IRS990/TotalFunctionalExpensesGrp/TotalAmt0128602
IRS990/TotalGrossUBIAmt00
IRS990/TotalLiabilitiesBOYAmt0220000
IRS990/TotalLiabilitiesEOYAmt0100000
IRS990/TotalLiabilitiesGrp/BOYAmt0220000
IRS990/TotalLiabilitiesGrp/EOYAmt0100000
IRS990/TotalNetAssetsFundBalanceGrp/BOYAmt03176651
IRS990/TotalNetAssetsFundBalanceGrp/EOYAmt03089029
IRS990/TotalOtherCompensationAmt00
IRS990/TotalProgramServiceExpensesAmt02400
IRS990/TotalReportableCompFromOrgAmt00
IRS990/TotalRevenueGrp/ExclusionAmt09720
IRS990/TotalRevenueGrp/RelatedOrExemptFuncIncomeAmt00
IRS990/TotalRevenueGrp/TotalRevenueColumnAmt040980
IRS990/TotalRevenueGrp/UnrelatedBusinessRevenueAmt00
IRS990/TotalVolunteersCnt013
IRS990/TotLiabNetAssetsFundBalanceGrp/BOYAmt03396651
IRS990/TotLiabNetAssetsFundBalanceGrp/EOYAmt03189029
IRS990/TotReportableCompRltdOrgAmt00
IRS990/TrnsfrExmptNonChrtblRltdOrgInd00
IRS990/TypeOfOrganizationCorpInd0X
IRS990/UnrelatedBusIncmOverLimitInd00
IRS990/UponRequestInd0X
IRS990/USAddress/AddressLine1Txt0PO BOX 1076
IRS990/USAddress/CityNm0EAGLE RIVER
IRS990/USAddress/StateAbbreviationCd0WI
IRS990/USAddress/ZIPCd054521
IRS990/VotingMembersGoverningBodyCnt012
IRS990/VotingMembersIndependentCnt012
IRS990/WebsiteAddressTxt0OLSONLIBRARYFOUNDATION.ORG
IRS990/WhistleblowerPolicyInd00
ReturnHeader/BuildTS02021-01-29 14:40:06Z
ReturnHeader/BusinessOfficerGrp/DiscussWithPaidPreparerInd01
ReturnHeader/BusinessOfficerGrp/PersonNm0LEE LIERMANN
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0TREASURER
ReturnHeader/BusinessOfficerGrp/PhoneNum07154798070
ReturnHeader/BusinessOfficerGrp/SignatureDt02020-11-09
ReturnHeader/Filer/BusinessName/BusinessNameLine1Txt0WALTER E OLSON MEMORIAL LIBRARY
ReturnHeader/Filer/BusinessName/BusinessNameLine2Txt0FOUNDATION INC

Document Assets

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Filings

Displayed year

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

Open filing
Assets
$3,189,029
Liabilities
$100,000
Net assets
$3,089,029
Revenue
$40,980
Expenses
$128,602
Net income
-$87,622
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