Civic Intelligence

Walter E Olson Memorial Library Foundation Inc.

990 • Fiscal year 2020 • EIN 39-1740131

Jan 01, 2020 to Dec 31, 2020 • Filed on Nov 04, 2021

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

(715) 479-8070

Siviq Scores

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

Liabilities / Assets

29th percentile

0.02x

Higher debt load relative to assets than 29% of similar nonprofits.

2020 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2020

Liabilities / Revenue

87th percentile

1.18x

Higher debt load relative to revenue than 87% of similar nonprofits.

2020 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2020

Net Margin

2nd percentile

-220%

Higher net margin than 2% of similar nonprofits.

2020 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2020

Top Officer Pay

Score unavailable

No value available

This filing does not contain officer compensation rows.

Source year 2020

Asset Growth

16th percentile

-4.5%

Faster asset growth than 16% of similar nonprofits.

2020 filings • 501(c)3 • $1M-$5M nonprofits • Annualized from 2019 to 2020

Revenue Growth

56th percentile

3.6%

Faster revenue growth than 56% of similar nonprofits.

2020 filings • 501(c)3 • $1M-$5M nonprofits • Annualized from 2019 to 2020

Balance Sheet
Liabilities / Assets29th percentile

Assets

Down

$3,045,781

Down $143,248 (-4.5%) from 2019

Net Assets

Down

$2,995,781

Down $93,248 (-3.0%) from 2019

Liabilities

Down

$50,000

Down $50,000 (-50%) from 2019

Revenue And Expenses
Liabilities / Revenue87th percentileNet Margin2nd percentile

Revenue

Up

$42,469

Up $1,489 (+3.6%) from 2019

Expenses

Up

$135,717

Up $7,115 (+5.5%) from 2019

Net Income

Down

-$93,248

Down $5,626 (-6.4%) from 2019

Historical Trend

Balance Sheet Trend

Asset Growth16th 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

2020

Assets$3,045,781
Liabilities$50,000
Net Assets$2,995,781
Open 2020 Filing

Operations Trend

Revenue Growth56th 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

2020

Revenue$42,469
Expenses$135,717
Net Income-$93,248
Open 2020 Filing
Jump To
Filing Snapshot
Filing Period
Jan 1, 2020 to Dec 31, 2020
Signed
Nov 4, 2021
Return Version
2020v4.1
Gross Receipts
$42,726
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$3,096,593$2,971,835▼ $124,758
Cash and Non-Interest-Bearing Accounts$58,476$66,036▲ $7,560
Loans From Officers Directors$100,000$50,000▼ $50,000
Pledges and Grants Receivable$32,910$7,910▼ $25,000
Accounts Receivable$1,050--
Total Assets$3,189,029$3,045,781▼ $143,248
Liabilities
Total Liabilities$100,000$50,000▼ $50,000
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$3,089,029$2,995,781▼ $93,248
Total Net Assets Fund Balance$3,089,029$2,995,781▼ $93,248
Total Liabilities and Net Assets / Fund Balance$3,189,029$3,045,781▼ $143,248

Asset Categories

AssetBook ValueDepreciationBasis
Buildings$2,619,526$299,937$2,919,463
Equipment$189,809$84,614$274,423
Land$162,500-$162,500

Endowment Activity

PeriodBeginningContrib.Gain/LossOther UsesEnd
2020--▲ $20,000-$20,000
Compensation and Service Providers
Top Officer PayScore unavailable

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
$42,697
Program Service Revenue
$0
Investment Income
$29
Other Revenue
$-257
All Other Contributions
$42,697
Change in Net Assets
$-93,248
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$129,717
Grants and Similar Amounts Paid$6,000
Total Fundraising Expense$260
Professional Fundraising Fees$0
Salaries, Compensation, and Employee Benefits$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Depreciation Depletion-$124,758-$124,758
Grants to Domestic Orgs$6,000--$6,000
Fees for Services Other$1,988--$1,988
Fees for Services Accounting-$1,500-$1,500
Insurance-$750-$750
Other Expenses-$330$180$180
Office Expenses-$131-$131
Advertising--$80$80
Total Functional Expenses$7,988$127,469$260$135,717
International Activity

Grant and Assistance Recipients

RecipientLocationCategoryPurposeAmount
Walter E Olson Memorial LibraryEagle River, WIGovernmentLibrary Operations$6,000
Fundraising, Events, and Gaming
Fundraising activities
Yes
Gaming activities
No
Professional fundraiser used
No

Fundraising and Gaming Totals

Line ItemAmount
Fundraising Direct Expenses$257
Fundraising Gross Income$0
Professional Fundraising Fees$0

Fundraising Events

EventGross ReceiptsGross RevenueDirect ExpensesNet Income
Brick Campaign--$257-
Golf Tournament----
Total Events--$257$-257
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$100,000$50,000▼ $50,000
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
2021-11-04
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
0

Preparer

Firm
Wipfli Llp
Address
PO BOX 12237, GREEN BAY, WI 54307-2237
Preparer
Terri Rexrode CPA Mst
Phone
9206620016
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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.
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Document Assets

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Filings

Displayed year

2020 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$3,045,781
Liabilities
$50,000
Net assets
$2,995,781
Revenue
$42,469
Expenses
$135,717
Net income
-$93,248
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