Civic Intelligence

Walter E Olson Memorial Library Foundation Inc.

990 • Fiscal year 2021 • EIN 39-1740131

Jan 01, 2021 to Dec 31, 2021 • Filed on Nov 10, 2022

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

56th percentile

0.00x

Tied with the lowest-debt nonprofits in its peer group.

2021 filings • 501(c)3 • <$500k nonprofits • Source year 2021

Liabilities / Revenue

56th percentile

0.00x

Tied with the lowest-debt nonprofits in its peer group.

2021 filings • 501(c)3 • <$500k nonprofits • Source year 2021

Net Margin

5th percentile

-208%

Higher net margin than 5% of similar nonprofits.

2021 filings • 501(c)3 • <$500k nonprofits • Source year 2021

Top Officer Pay

77th percentile

$0

Higher top officer pay than 77% of similar nonprofits.

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

2021 filings • 501(c)3 • <$500k nonprofits • Source year 2021

Asset Growth

3rd percentile

-98%

Faster asset growth than 3% of similar nonprofits.

2021 filings • 501(c)3 • <$500k nonprofits • Annualized from 2020 to 2021

Revenue Growth

47th percentile

0.7%

Faster revenue growth than 47% of similar nonprofits.

2021 filings • 501(c)3 • <$500k nonprofits • Annualized from 2020 to 2021

Balance Sheet
Liabilities / Assets56th percentile

Assets

Down

$59,737

Down $2,986,044 (-98%) from 2020

Net Assets

Down

$59,737

Down $2,936,044 (-98%) from 2020

Liabilities

Down

$0

Down $50,000 (-100%) from 2020

Revenue And Expenses
Liabilities / Revenue56th percentileNet Margin5th percentile

Revenue

Up

$42,755

Up $286 (+0.7%) from 2020

Expenses

Down

$131,722

Down $3,995 (-2.9%) from 2020

Net Income

Up

-$88,967

Up $4,281 (+4.6%) from 2020

Historical Trend

Balance Sheet Trend

Asset Growth3rd 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

2021

Assets$59,737
Liabilities$0
Net Assets$59,737
Open 2021 Filing

Operations Trend

Revenue Growth47th 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

2021

Revenue$42,755
Expenses$131,722
Net Income-$88,967
Open 2021 Filing
Jump To
Filing Snapshot
Filing Period
Jan 1, 2021 to Dec 31, 2021
Signed
Nov 10, 2022
Return Version
2021v4.0
Gross Receipts
$45,138
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.

To augment the library as a learning and information resource for the citizens of eagle river

Balance Sheet Detail
LineBeginningEndChange
Assets
Land, Buildings, and Equipment, Net$2,971,835--
Cash and Non-Interest-Bearing Accounts$66,036$51,827▼ $14,209
Pledges and Grants Receivable$7,910$7,910→ $0
Total Assets$3,045,781$59,737▼ $2,986,044
Liabilities
Other Liabilities$50,000--
Total Liabilities$50,000$0▼ $50,000
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$2,995,781$59,737▼ $2,936,044
Total Net Assets Fund Balance$2,995,781$59,737▼ $2,936,044
Total Liabilities and Net Assets / Fund Balance$3,045,781$59,737▼ $2,986,044
Compensation and Service Providers
Top Officer Pay77th percentile

Board Members and Trustees

NameTitle
Nancy SchafferPresident
Chris OatmanBoard Member
Debra ObrodovichBoard Member
Jack LoomisBoard Member
Jan ChristoffersonBoard Member
John HletkoBoard Member
Laurie StoegbauerBoard Member
Nancy SchullerBoard Member
Sara KlemannBoard Member
Darleen KadulskiSecretary
Lee LiermannTreasurer
Tina KollerVice Preside
Revenue and Support

Revenue Composition

Contributions and Grants
$39,660
Program Service Revenue
$0
Investment Income
$18
Other Revenue
$3,077
All Other Contributions
$39,660
Change in Net Assets
$-88,967
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$131,722
Total Fundraising Expense$180
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Salaries, Compensation, and Employee Benefits$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Depreciation Depletion-$124,758-$124,758
Occupancy$2,470--$2,470
Fees for Services Accounting-$1,550-$1,550
Insurance-$850-$850
Office Expenses-$208-$208
Other Expenses$1,526$180$180$180
Total Functional Expenses$3,996$127,546$180$131,722
Fundraising, Events, and Gaming
Fundraising activities
No
Gaming activities
No
Professional fundraiser used
No

Fundraising and Gaming Totals

Line ItemAmount
Gaming Gross Income$5,460
Gaming Direct Expenses$2,383
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
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, Page 6, Part VI, Line 11B

“The foundation'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, Page 6, Part VI, Line 19

“The foundation's 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
2022-11-10
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
12

Preparer

Firm
Kerberrose Sc
Address
115 E 5TH ST, SHAWANO, WI 54166
Preparer
Zachary Linsmeyer CPA
Phone
7155269400
Supplemental Narrative

Additional Explanations

Form 990, Part XI, Line 9

“Transfer of fixed assets to the town of lincoln -2,847,077”

Raw XML Appendix384 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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IRS990ScheduleN/DirectorOfSuccessor2Ind0false
IRS990ScheduleN/DispositionOfAssetsDetail/AssetsDistriOrExpnssPaidDesc0FIXED ASSETS
IRS990ScheduleN/DispositionOfAssetsDetail/DistributionDt02021-12-10
IRS990ScheduleN/DispositionOfAssetsDetail/EIN0391053163
IRS990ScheduleN/DispositionOfAssetsDetail/FairMarketValueOfAssetAmt02847077
IRS990ScheduleN/DispositionOfAssetsDetail/IRCSectionTxt0GOVERNMENT
IRS990ScheduleN/DispositionOfAssetsDetail/MethodOfFMVDeterminationTxt0BOOK VALUE
IRS990ScheduleN/DispositionOfAssetsDetail/PersonNm0TOWN OF LINCOLN
IRS990ScheduleN/DispositionOfAssetsDetail/USAddress/AddressLine1Txt01205 SUNDSTEIN ROAD
IRS990ScheduleN/DispositionOfAssetsDetail/USAddress/CityNm0EAGLE RIVER
IRS990ScheduleN/DispositionOfAssetsDetail/USAddress/StateAbbreviationCd0WI
IRS990ScheduleN/DispositionOfAssetsDetail/USAddress/ZIPCd054521
IRS990ScheduleN/EmployeeOfSuccessor2Ind0false
IRS990ScheduleN/OwnerOfSuccessor2Ind0false
IRS990ScheduleN/ReceiveCompensation2Ind0false
IRS990ScheduleN/SupplementalInformationDetail/ExplanationTxt0OWNERSHIP OF THE LAND THE LIBRARY IS CURRENTLY LOCATED ON WAS PROVIDED TO THE FOUNDATION IN AUGUST 2016 BY THE TOWN OF LINCOLN AS THE FOUNDATION OVERSAW THE CONSTRUCTION AND REMODELING. IN 2021, THE CONSTRUCTION AND REMODELING PROJECT THAT WAS UNDERTAKEN AND SUPERVISED BY THE FOUNDATION, WAS FINALIZED, SO OWNERSHIP OF THE PROPERTY WAS TRANSFERRED BACK TO THE TOWN OF LINCOLN AS IT HAD EXISTED BEFORE.
IRS990ScheduleN/SupplementalInformationDetail/FormAndLineReferenceDesc0SCHEDULE N
IRS990/ScheduleORequiredInd0true
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0THE FOUNDATION'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 FOUNDATION'S DOCUMENTS ARE AVAILABLE UPON REQUEST.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2TRANSFER OF FIXED ASSETS TO THE TOWN OF LINCOLN -2,847,077
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0FORM 990, PAGE 6, PART VI, LINE 11B
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1FORM 990, PAGE 6, PART VI, LINE 19
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2FORM 990, PART XI, LINE 9
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IRS990/SignificantChangeInd0false
IRS990/SignificantNewProgramSrvcInd0false
IRS990/StatesWhereCopyOfReturnIsFldCd0WI
IRS990/SubjectToExcsTaxNetInvstIncInd0false
IRS990/SubjectToProxyTaxInd0false
IRS990/SubjToTaxRmnrtnExPrchtPymtInd0false
IRS990/TaxablePartyNotificationInd0false
IRS990/TaxExemptBondsInd0false
IRS990/TerminateOperationsInd0false
IRS990/TotalAssetsBOYAmt03045781
IRS990/TotalAssetsEOYAmt059737
IRS990/TotalAssetsGrp/BOYAmt03045781
IRS990/TotalAssetsGrp/EOYAmt059737
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IRS990/TotalContributionsAmt039660
IRS990/TotalEmployeeCnt00
IRS990/TotalFunctionalExpensesGrp/FundraisingAmt0180
IRS990/TotalFunctionalExpensesGrp/ManagementAndGeneralAmt0127546
IRS990/TotalFunctionalExpensesGrp/ProgramServicesAmt03996
IRS990/TotalFunctionalExpensesGrp/TotalAmt0131722
IRS990/TotalGrossUBIAmt00
IRS990/TotalLiabilitiesBOYAmt050000
IRS990/TotalLiabilitiesEOYAmt00
IRS990/TotalLiabilitiesGrp/BOYAmt050000
IRS990/TotalLiabilitiesGrp/EOYAmt00
IRS990/TotalNetAssetsFundBalanceGrp/BOYAmt02995781
IRS990/TotalNetAssetsFundBalanceGrp/EOYAmt059737
IRS990/TotalProgramServiceExpensesAmt03996
IRS990/TotalRevenueGrp/ExclusionAmt03095
IRS990/TotalRevenueGrp/TotalRevenueColumnAmt042755
IRS990/TotalVolunteersCnt012
IRS990/TotLiabNetAssetsFundBalanceGrp/BOYAmt03045781
IRS990/TotLiabNetAssetsFundBalanceGrp/EOYAmt059737
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IRS990/TypeOfOrganizationCorpInd0X
IRS990/UnrelatedBusIncmOverLimitInd0false
IRS990/UponRequestInd0X
IRS990/USAddress/AddressLine1Txt03594 SCIENCE LANE
IRS990/USAddress/CityNm0EAGLE RIVER
IRS990/USAddress/StateAbbreviationCd0WI
IRS990/USAddress/ZIPCd054521
IRS990/VotingMembersGoverningBodyCnt012
IRS990/VotingMembersIndependentCnt012
IRS990/WebsiteAddressTxt0OLSONLIBRARYFOUNDATION.ORG
IRS990/WhistleblowerPolicyInd0false
ReturnHeader/BuildTS02022-09-23 18:48:47Z
ReturnHeader/BusinessOfficerGrp/DiscussWithPaidPreparerInd0true
ReturnHeader/BusinessOfficerGrp/PersonNm0LEE LIERMANN
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0TREASURER
ReturnHeader/BusinessOfficerGrp/PhoneNum07154798070
ReturnHeader/BusinessOfficerGrp/SignatureDt02022-11-10
ReturnHeader/Filer/BusinessName/BusinessNameLine1Txt0WALTER E OLSON MEMORIAL LIBRARY
ReturnHeader/Filer/BusinessName/BusinessNameLine2Txt0FOUNDATION INC
ReturnHeader/Filer/BusinessNameControlTxt0WALT
ReturnHeader/Filer/EIN0391740131
ReturnHeader/Filer/PhoneNum07154798070
ReturnHeader/Filer/USAddress/AddressLine1Txt0PO BOX 1076
ReturnHeader/Filer/USAddress/CityNm0EAGLE RIVER
ReturnHeader/Filer/USAddress/StateAbbreviationCd0WI
ReturnHeader/Filer/USAddress/ZIPCd054521
ReturnHeader/PreparerFirmGrp/PreparerFirmEIN0391658423
ReturnHeader/PreparerFirmGrp/PreparerFirmName/BusinessNameLine1Txt0KERBERROSE SC
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/AddressLine1Txt0115 E 5TH ST
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/CityNm0SHAWANO
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/StateAbbreviationCd0WI
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/ZIPCd054166
ReturnHeader/PreparerPersonGrp/PhoneNum07155269400
ReturnHeader/PreparerPersonGrp/PreparationDt02022-11-10
ReturnHeader/PreparerPersonGrp/PreparerPersonNm0ZACHARY LINSMEYER CPA
ReturnHeader/ReturnTs02022-11-10T16:41:11-05:00
ReturnHeader/ReturnTypeCd0990
ReturnHeader/SigningOfficerGrp/PersonFullName/PersonFirstNm0LEE
ReturnHeader/SigningOfficerGrp/PersonFullName/PersonLastNm0LIERMANN
ReturnHeader/TaxPeriodBeginDt02021-01-01
ReturnHeader/TaxPeriodEndDt02021-12-31
ReturnHeader/TaxYr02021

Document Assets

No mirrored PDF or thumbnail assets are attached yet.

Filings

Displayed year

2021 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$59,737
Liabilities
$0
Net assets
$59,737
Revenue
$42,755
Expenses
$131,722
Net income
-$88,967
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