Mankato Area Foundation

990 • Fiscal year 2018 • EIN 41-0011094

Jul 01, 2017 to Jun 30, 2018 • Filed on Mar 28, 2019

Organization Profile www.mankatoareafoundation.com

127 South Second Street No 100Mankato, MN 56001

(507) 389-4583

Siviq Scores

Scores are not available for this record yet.

Balance Sheet

Assets

Flat

$15,027,895

Flat from 2018

Net Assets

Flat

$12,708,717

Flat from 2018

Liabilities

Flat

$2,319,178

Flat from 2018

Revenue And Expenses

Revenue

Flat

$2,396,337

Flat from 2018

Expenses

Flat

$1,258,309

Flat from 2018

Net Income

Flat

$1,138,028

Flat from 2018

Historical Trend

Balance Sheet Trend

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

Highlighted filing

2018

Assets$15,027,895

Liabilities$2,319,178

Net Assets$12,708,717

Open 2018 Filing

Operations Trend

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

Highlighted filing

2018

Revenue$2,396,337

Expenses$1,258,309

Net Income$1,138,028

Open 2018 Filing

Jump To

Filing Snapshot

Filing Period: Jul 1, 2017 to Jun 30, 2018
Signed: Mar 28, 2019
Return Version: 2017v2.3
Gross Receipts: $10,381,213

Mission and Program Overview

Mission

The foundation provides an avenue of giving for individuals and groups interested in community enrichment.

The Mankato Area Foundation is a trusted resource that connects donors with causes they care about, provides funding to enhance our region and serves as a collaborative community partner.

Balance Sheet Detail

Line	Beginning	End	Change
Assets
Investments in Publicly Traded Securities	$3,289,829	$13,067,999	▲ $9,778,170
Investments Other Securities	$7,169,974	-	-
Land, Buildings, and Equipment, Net	$1,260,763	$1,216,815	▼ $43,948
Savings and Temporary Cash Investments	$376,869	$227,966	▼ $148,903
Accounts Receivable	$25,959	$79,215	▲ $53,256
Prepaid Expenses and Deferred Charges	$2,457	$3,073	▲ $616
Total Assets	$12,558,678	$15,027,895	▲ $2,469,217
Other Assets Total	$432,827	$432,827	→ $0
Liabilities
Escrow Account Liability	$1,061,127	$2,236,350	▲ $1,175,223
Accounts Payable and Accrued Expenses	$45,402	$71,828	▲ $26,426
Grants Payable	$105,000	$11,000	▼ $94,000
Total Liabilities	$1,211,529	$2,319,178	▲ $1,107,649
Net Assets / Fund Balance
Temporarily Rstr Net Assets	$8,376,841	$9,573,821	▲ $1,196,980
Permanently Rstr Net Assets	$1,706,578	$1,706,578	→ $0
Unrestricted Net Assets	$1,263,730	$1,428,318	▲ $164,588
Total Net Assets Fund Balance	$11,347,149	$12,708,717	▲ $1,361,568
Total Liabilities and Net Assets / Fund Balance	$12,558,678	$15,027,895	▲ $2,469,217

Asset Categories

Asset	Book Value	Depreciation	Basis
Buildings	$1,202,335	$106,486	$1,308,821
Equipment	$14,480	$38,980	$53,460

Endowment Activity

Period	Beginning	Contrib.	Gain/Loss	Other Uses	End
2018	$2,023,719	-	▲ $104,824	-	$2,047,013
2017	$1,927,667	-	▲ $213,546	-	$2,023,719
2016	$1,976,541	-	▼ $19,636	-	$1,927,667
2015	$2,055,200	-	▲ $16,529	-	$1,976,541
2014	$1,862,687	-	▲ $287,834	-	$2,055,200

Compensation and Service Providers

Employees

Name	Title	Full / Part Time	Base	Other	Total
Nancy Zallek	Executive Director	FT	$67,379	$20,274	$87,653

Board Members and Trustees

Name	Title
Andrew Thom	Chair
Melanie VanRoekel	Vice-Chair
Brian Koch	Director
David Schooff	Director
Fred Lutz	Director
JO Guck-Bailey	Director
Jessica Barry	Director
Jim Santori	Director
Kathy Trauger	Director
Louise Dickmeyer	Director
Mark Sharpless	Director
Nathan Mullikin	Director
Shannon Gullickson	Director
Steve Jansen	Director
Tom Sernett	Director
Warren West	Director
Kristin Weeks Duncanson	Director (as of Oct 2017)
Jerry Crest	Director (ended Sept 2017)
Thomas Lentz	Director/Treasurer (as of July 2017)
Andrew Willaert	Secretary
Michael Karp	Treasurer (ended July 2017)

Revenue and Support

Revenue Composition

Contributions and Grants: $2,049,237
Program Service Revenue: $15,589
Investment Income: $331,511
Other Revenue: $0
All Other Contributions: $2,049,237
Change in Net Assets: $1,138,028

Noncash Contribution Practices

Property subject to holding requirements: No
Reviewed unusual noncash gifts: Yes
Third parties used for noncash contributions: No

Noncash Contributions

Contribution Type	Contribution Count	Reported Amount	Valuation Method
Securities Publicly Traded	4	$241,667	Ave Price On Trade Date
Total Noncash Contributions	4	$241,667	-

Audited Revenue Reconciliation

Revenue per Audited Statements: $2,381,372
Revenue Not Reported on Financial Statements: $14,965
Revenue Not Reported on Form 990: $223,540
Total Revenue per Audited Statements: $2,604,912
Total Revenue per Form 990: $2,396,337

Expenses and Functional Allocation

Major Expense Lines

Line Item	Amount
Grants and Similar Amounts Paid	$834,253
Salaries, Compensation, and Employee Benefits	$249,133
Other Expenses	$174,923
Total Fundraising Expense	$111,342
Professional Fundraising Fees	$0

Functional Expense Allocation

Line Item	Program	Management	Fundraising	Total
Grants to Domestic Orgs	$834,253	-	-	$834,253
Other Salaries and Wages	$64,523	$31,363	$36,191	$132,077
Current Officers, Directors, Trustees, and Key Employees	$35,234	$30,200	$35,234	$100,668
Occupancy	$43,513	$4,175	$3,131	$50,819
Office Expenses	$24,030	$3,312	$2,301	$29,643
Fees for Service Investment Mgmnt Fees	-	$14,965	-	$14,965
Fees for Services Legal	-	$14,934	-	$14,934
Payroll Taxes	$4,860	$3,340	$4,600	$12,800
Fees for Services Accounting	-	$12,500	-	$12,500
Information Technology	$1,058	$10,311	-	$11,369
Advertising	$303	-	$10,334	$10,637
Insurance	$1,131	$3,724	-	$4,855
Other Employee Benefits	-	$2,210	$1,378	$3,588
Depreciation Depletion	$1,394	$1,767	-	$3,161
Conferences and Meetings	$57	$661	$1,153	$1,871
Travel	$137	$117	$137	$391
Other Expenses	$150	$2,331	$389	$150
All Other Expenses	-	$25	-	$25
Total Functional Expenses	$1,011,032	$135,935	$111,342	$1,258,309

Audited Expense Reconciliation

Line Item	Amount
Total Expenses per Form 990	$1,258,309
Expenses per Audited Statements	$1,243,344
Total Expenses per Audited Statements	$1,243,344
Expenses Not Reported on Financial Statements	$14,965
Expenses Not Reported on Form 990	$0

International Activity

Grant and Assistance Recipients

Recipient	Location	Category	Purpose	Amount
Boys and Girls Club of Rochester	Mankato, MN	501(c)(3)	Program Assistance	$155,000
Miracle League of North Mankato	Mankato, MN	501(c)(3)	Program Assistance	$83,000
Minnesota State University Foundation	Mankato, MN	501(c)(3)	Scholarship and Programming	$53,016
Grace Lutheran Church	Mankato, MN	501(c)(3)	Program Assistance	$40,000
VINE Faith in Action	Mankato, MN	501(c)(3)	Program Assistance	$35,100
Children's Museum of Southern MN	Mankato, MN	501(c)(3)	Program Assistance	$31,100
YWCA Mankato	Mankato, MN	501(c)(3)	Program Assistance	$28,675
First Baptist Church	Lake Crystal, MN	501(c)(3)	Program Assistance	$27,000
Partners for Affordable Housing	Mankato, MN	501(c)(3)	Program Assistance	$25,050
Junior Achievement of the Upper Midwest	Mankato, MN	501(c)(3)	Program Assistance	$20,950
Educare Foundation	Mankato, MN	501(c)(3)	Program Assistance	$20,000
Mankato Mdewakanton Association	Mankato, MN	501(c)(3)	Program Assistance	$15,000
South Central College Foundation	North Mankato, MN	501(c)(3)	Scholarships and Robotics Program	$15,000
Feeding Our Communities Partners	North Mankato, MN	501(c)(3)	Program Assistance	$13,813
City Center Partnership	Mankato, MN	501(c)(3)	Program Assistance	$12,000
Committee Against Domestic Abuse	Mankato, MN	501(c)(3)	Program Assistance	$11,000
Lake Crystal Area Recreation Center	Lake Crystal, MN	501(c)(3)	Program Assistance	$10,700
Centenary United Methodist Church	Mankato, MN	501(c)(3)	Program Assistance	$10,000
Gustavus Adolphus College	St Peter, MN	501(c)(3)	Program Assistance	$10,000
Leisure Education for Exceptional People	Mankato, MN	501(c)(3)	Program Assistance	$10,000
Lifeworks Services	Eagan, MN	501(c)(3)	Program Assistance	$10,000
Minnesota River Area Agency on Aging	Mankato, MN	501(c)(3)	Program Assistance	$8,000
Key City Bike	Mankato, MN	501(c)(3)	Program Assistance	$7,500
City of Mankato	Mankato, MN	Government	Program Assistance	$7,261
ECHO Food Shelf	Mankato, MN	501(c)(3)	Program Assistance	$6,100
Mission Haiti	Sioux Falls, SD	501(c)(3)	Program Assistance	$6,050
Chris the King Lutheran Church	Mankato, MN	501(c)(3)	Program Assistance	$6,000
Salvation Army	Mankato, MN	501(c)(3)	Program Assistance	$5,600
Christian Reformed Church	Worthington, MN	501(c)(3)	Program Assistance	$5,400
Greater Mankato Diversity Council	Mankato, MN	501(c)(3)	Program Assistance	$5,160
Lake Crystal Wellcome Memorial School	Lake Crystal, MN	Government	Program Assistance	$5,100
American Cancer Society	Mankato, MN	501(c)(3)	Scholarships and Robotics Program	$5,000
Blue Earth County Historical Society	Mankato, MN	501(c)(3)	Program Assistance	$5,000
Life-Work Planning Center	Mankato, MN	501(c)(3)	Program Assistance	$5,000
MRCI Worksourse	Mankato, MN	501(c)(3)	Program Assistance	$5,000
Mankato Area Public Schools	Mankato, MN	Government	Program Assistance	$5,000
Mayo Foundation	Rochester, MN	501(c)(3)	Program Assistance	$5,000
Open Door Health Center	Mankato, MN	501(c)(3)	Program Assistance	$5,000
Servants of Christ International	Milliken, CO	501(c)(3)	Program Assistance	$5,000

Fundraising, Events, and Gaming

Fundraising activities: No
Gaming activities: No
Professional fundraiser used: No

Fundraising and Gaming Totals

Line Item	Amount
Professional Fundraising Fees	$0

Political and Lobbying Activity

Political campaign activity: No
Lobbying activity: No
Subject to proxy tax: No

Entity	Location	Activity	Income	Assets	Controller
MAF Holdings LLC	Mankato, MN	Manages non-cash assets.	$119,384	$1,705,974	Mankato Area Foundation Inc

Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant: No
Annual disclosure for covered persons: Yes
Audit committee: Yes
Backup withholding compliance: Yes
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: Yes
Other officer compensation reviewed: No
Conflict-of-interest policy: Yes
Audited financial statements prepared: Yes
Key decisions subject to board approval: No
Management duties delegated: No

Governance Explanations

Form 990, Part VI, Section A, line 1

“The Executive Committee shall consist of at least the four (4) Officers of the Corporation and committee chairpersons, or their designated committee representative and such other persons that may be appointed by the Board. The duties of the Executive Committee shall be those delegated to it and outlined by the Board of Directors. The Executive Committee shall make recommendations in accordance with the policies established by the Board. Subject to the Board's control and direction, the Executive Committee shall have and may exercise all of the authority and powers of the Board subject to such limitations as the Board may impose from time to time. Unless specifically authorized by the Board by resolution approved by the affirmative vote of a majority of the Directors, the Executive Committee shall not have the authority and power to elect Officers, to amend the Articles of Incorporation, to adopt a plan of merger or consolidation, to authorize the sale or other disposition of all or substantially all of the property and assets of the Corporation, to authorize a voluntary dissolution of the Corporation or a revocation thereof, or to amend these Bylaws.”

Form 990, Part VI, Section A, line 8B

“There are no committees with authority to make decisions on behalf of the board.”

Form 990, Part VI, Section B, line 11B

“The Treasurer and accountant will review the tax return draft then forward to the Finance Committee for review and approval. After recommendation from the Finance Committee, the Executive Committee reviews and approves presentation to the board for approval of filing. A copy of the Form 990 is e-mailed to the board for review and approval prior to filing.”

Form 990, Part VI, Section B, line 12C

“All board members and committee members of the Foundation are covered by the policy. Any member with board-delegated powers is an interested person if they have a direct or indirect financial interest or a fiduciary responsibility to another organization. After disclosure of a possible conflict of interest, the remaining board or committee members shall decide if a conflict exists.”

Form 990, Part VI, Section B, line 15A

“Executive committee officers do an annual review of the President and CEO responsibilities and goals. The Executive Committee discusses and has final authority to determine compensation. Information from the Minnesota Council of Nonprofits compensation study assist in the determination of compensation. The committee substantiates all information in its minutes. The Board approves the compensation as part of its annual budget. No officers receive compensation.”

Form 990, Part VI, Section C, line 19

“The governing documents, policies, and financial statements, Form 990 are provided to the public upon request in person or by e-mail.”

Filing and Contact Details

Filer

Filer Name: Mankato Area Foundation
EIN: 41-0011094
Phone: 5073894583
Address: 127 South Second Street No 100, Mankato, MN 56001

Signing Officer

Name: Thomas Lentz
Title: Treasurer
Phone: 5073894583
Signed: 2019-03-28
Discuss with paid preparer: Yes

Organization Details

Principal Officer: Nancy Zallek
Formed: 1974
Legal Domicile: Mn
Voting Board Members: 19
Independent Board Members: 19
Employees: 4
Volunteers: 55

Preparer

Firm: Eide Bailly LLP
Address: 800 Nicollet Mall Ste 1300, Minneapolis, MN 55402-7033
Preparer: Deb Nelson CPA
Phone: 6122536500

Supplemental Narrative

Financial Statement Notes

Part IV, Line 1B:

“The Foundation acts as fiscal sponsor for community projects.”

Part IV, Line 2B:

“Agency funds are held for other nonprofit organizations. The Foundation receives and invests the organizations' dollars with the long-term pooled account. The cash is included on the balance sheet in the long-term account and the associated liability is recorded on the balance sheet. Fiscal sponsored funds are held for community projects for committees seeking nonprofit tax-exempt status. The Foundation receives and distributes the funds for qualified expenses. The cash is included on the balance sheet in the checking account and the associated liability is recorded on the balance sheet.”

Part V, Line 4:

“Net investment earnings from endowment funds are used for community granting to nonprofit organizations.”

Part X, Line 2:

“MAF is organized as a Minnesota nonprofit corporation and has been recognized by the Internal Revenue Service (IRS) as exempt from federal income taxes under Section 50l(c)(3) of the Internal Revenue Code. MAF Holdings maintains exempt status under the Foundation's exemption since the Foundation is the sole member of MAF. The Foundation is annually required to file a Return of Organization Exempt from Income Tax (Form 990) with the IRS. In addition, the Foundation is subject to income tax on net income that is derived from business activities that are unrelated to the exempt purpose. The Foundation has determined it is not subject to unrelated business income tax and has not filed an Exempt Organization Business Income Tax Return (Form 990-T) with the IRS. The Foundation believes that it has appropriate support for any tax positions taken affecting its annual filing requirements, and as such, does not have any uncertain tax positions that are material to the consolidated financial statements. The Foundation would recognize future accrued interest and penalties related to unrecognized tax benefits and liabilities in income tax expense if such interest and penalties are incurred.”

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IRS990/Form990PartVIISectionAGrp/PersonNm	0	Andrew Thom
IRS990/Form990PartVIISectionAGrp/PersonNm	1	Melanie VanRoekel
IRS990/Form990PartVIISectionAGrp/PersonNm	2	Andrew Willaert
IRS990/Form990PartVIISectionAGrp/PersonNm	3	Thomas Lentz
IRS990/Form990PartVIISectionAGrp/PersonNm	4	Michael Karp
IRS990/Form990PartVIISectionAGrp/PersonNm	5	Jerry Crest
IRS990/Form990PartVIISectionAGrp/PersonNm	6	Jessica Barry
IRS990/Form990PartVIISectionAGrp/PersonNm	7	Louise Dickmeyer
IRS990/Form990PartVIISectionAGrp/PersonNm	8	Kristin Weeks Duncanson
IRS990/Form990PartVIISectionAGrp/PersonNm	9	JO Guck-Bailey
IRS990/Form990PartVIISectionAGrp/PersonNm	10	Shannon Gullickson
IRS990/Form990PartVIISectionAGrp/PersonNm	11	Steve Jansen
IRS990/Form990PartVIISectionAGrp/PersonNm	12	Brian Koch
IRS990/Form990PartVIISectionAGrp/PersonNm	13	Fred Lutz
IRS990/Form990PartVIISectionAGrp/PersonNm	14	Nathan Mullikin
IRS990/Form990PartVIISectionAGrp/PersonNm	15	Jim Santori
IRS990/Form990PartVIISectionAGrp/PersonNm	16	David Schooff
IRS990/Form990PartVIISectionAGrp/PersonNm	17	Tom Sernett
IRS990/Form990PartVIISectionAGrp/PersonNm	18	Mark Sharpless
IRS990/Form990PartVIISectionAGrp/PersonNm	19	Kathy Trauger
IRS990/Form990PartVIISectionAGrp/PersonNm	20	Warren West
IRS990/Form990PartVIISectionAGrp/PersonNm	21	Nancy Zallek
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IRS990/Form990PartVIISectionAGrp/TitleTxt	1	Vice-Chair
IRS990/Form990PartVIISectionAGrp/TitleTxt	2	Secretary
IRS990/Form990PartVIISectionAGrp/TitleTxt	3	Director/Treasurer (as of July 2017)
IRS990/Form990PartVIISectionAGrp/TitleTxt	4	Treasurer (ended July 2017)
IRS990/Form990PartVIISectionAGrp/TitleTxt	5	Director (ended Sept 2017)
IRS990/Form990PartVIISectionAGrp/TitleTxt	6	Director
IRS990/Form990PartVIISectionAGrp/TitleTxt	7	Director
IRS990/Form990PartVIISectionAGrp/TitleTxt	8	Director (as of Oct 2017)
IRS990/Form990PartVIISectionAGrp/TitleTxt	9	Director
IRS990/Form990PartVIISectionAGrp/TitleTxt	10	Director
IRS990/Form990PartVIISectionAGrp/TitleTxt	11	Director
IRS990/Form990PartVIISectionAGrp/TitleTxt	12	Director
IRS990/Form990PartVIISectionAGrp/TitleTxt	13	Director
IRS990/Form990PartVIISectionAGrp/TitleTxt	14	Director
IRS990/Form990PartVIISectionAGrp/TitleTxt	15	Director
IRS990/Form990PartVIISectionAGrp/TitleTxt	16	Director
IRS990/Form990PartVIISectionAGrp/TitleTxt	17	Director
IRS990/Form990PartVIISectionAGrp/TitleTxt	18	Director
IRS990/Form990PartVIISectionAGrp/TitleTxt	19	Director
IRS990/Form990PartVIISectionAGrp/TitleTxt	20	Director
IRS990/Form990PartVIISectionAGrp/TitleTxt	21	Executive Director
IRS990/Form990ProvidedToGvrnBodyInd	0	1
IRS990/FormationYr	0	1974
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IRS990/GamingActivitiesInd	0	0
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IRS990/GrantAmt	0	834253
IRS990/GrantsPayableGrp/BOYAmt	0	105000
IRS990/GrantsPayableGrp/EOYAmt	0	11000
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IRS990/GrantsToIndividualsInd	0	0
IRS990/GrantsToOrganizationsInd	0	1
IRS990/GrantToRelatedPersonInd	0	0
IRS990/GrossAmountSalesAssetsGrp/SecuritiesAmt	0	8093783
IRS990/GrossReceiptsAmt	0	10381213
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IRS990/IndivRcvdGreaterThan100KCnt	0	0
IRS990/IndoorTanningServicesInd	0	0
IRS990/InfoInScheduleOPartVIInd	0	X
IRS990/InformationTechnologyGrp/ManagementAndGeneralAmt	0	10311
IRS990/InformationTechnologyGrp/ProgramServicesAmt	0	1058
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IRS990/InsuranceGrp/ManagementAndGeneralAmt	0	3724
IRS990/InsuranceGrp/ProgramServicesAmt	0	1131
IRS990/InsuranceGrp/TotalAmt	0	4855
IRS990/InvestmentIncomeGrp/ExclusionAmt	0	222604
IRS990/InvestmentIncomeGrp/TotalRevenueColumnAmt	0	222604
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IRS990/InvestmentsPubTradedSecGrp/BOYAmt	0	3289829
IRS990/InvestmentsPubTradedSecGrp/EOYAmt	0	13067999
IRS990/IRPDocumentCnt	0	8
IRS990/IRPDocumentW2GCnt	0	0
IRS990/LandBldgEquipAccumDeprecAmt	0	145466
IRS990/LandBldgEquipBasisNetGrp/BOYAmt	0	1260763
IRS990/LandBldgEquipBasisNetGrp/EOYAmt	0	1216815
IRS990/LandBldgEquipCostOrOtherBssAmt	0	1362281
IRS990/LegalDomicileStateCd	0	MN
IRS990/LessCostOthBasisSalesExpnssGrp/SecuritiesAmt	0	7984876
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IRS990/LobbyingActivitiesInd	0	0
IRS990/LocalChaptersInd	0	0
IRS990/MaterialDiversionOrMisuseInd	0	0
IRS990/MembersOrStockholdersInd	0	0
IRS990/MethodOfAccountingAccrualInd	0	X
IRS990/MinutesOfCommitteesInd	0	0
IRS990/MinutesOfGoverningBodyInd	0	1
IRS990/MissionDesc	0	The Mankato Area Foundation is a trusted resource that connects donors with causes they care about, provides funding to enhance our region and serves as a collaborative community partner.
IRS990/MoreThan5000KToIndividualsInd	0	0
IRS990/MoreThan5000KToOrgInd	0	0
IRS990/NetAssetsOrFundBalancesBOYAmt	0	11347149
IRS990/NetAssetsOrFundBalancesEOYAmt	0	12708717
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IRS990/NetGainOrLossInvestmentsGrp/TotalRevenueColumnAmt	0	108907
IRS990/NetUnrelatedBusTxblIncmAmt	0	0
IRS990/NetUnrlzdGainsLossesInvstAmt	0	223540
IRS990/NoncashContributionsAmt	0	241667
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IRS990/OccupancyGrp/ManagementAndGeneralAmt	0	4175
IRS990/OccupancyGrp/ProgramServicesAmt	0	43513
IRS990/OccupancyGrp/TotalAmt	0	50819
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IRS990/OfficeExpensesGrp/ManagementAndGeneralAmt	0	3312
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IRS990/OfficeExpensesGrp/TotalAmt	0	29643
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IRS990/OperateHospitalInd	0	0
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IRS990/OrganizationFollowsSFAS117Ind	0	X
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IRS990/OtherAssetsTotalGrp/EOYAmt	0	432827
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IRS990/OtherEmployeeBenefitsGrp/ManagementAndGeneralAmt	0	2210
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IRS990/OtherExpensesGrp/Desc	0	Development Expense
IRS990/OtherExpensesGrp/Desc	1	Memberships
IRS990/OtherExpensesGrp/Desc	2	Professional Developmen
IRS990/OtherExpensesGrp/Desc	3	Grant Operating Expense
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IRS990/OtherExpensesGrp/ProgramServicesAmt	1	150
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IRS990/OtherExpensesGrp/TotalAmt	1	2331
IRS990/OtherExpensesGrp/TotalAmt	2	778
IRS990/OtherExpensesGrp/TotalAmt	3	150
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IRS990/OtherSalariesAndWagesGrp/ManagementAndGeneralAmt	0	31363
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IRS990/PayrollTaxesGrp/ProgramServicesAmt	0	4860
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IRS990/PermanentlyRstrNetAssetsGrp/EOYAmt	0	1706578
IRS990/PoliticalCampaignActyInd	0	0
IRS990/PrepaidExpensesDefrdChargesGrp/BOYAmt	0	2457
IRS990/PrepaidExpensesDefrdChargesGrp/EOYAmt	0	3073
IRS990/PrincipalOfficerNm	0	Nancy Zallek
IRS990/ProfessionalFundraisingInd	0	0
IRS990/ProgramServiceRevenueGrp/BusinessCd	0	561000
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IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt	0	15589
IRS990/ProhibitedTaxShelterTransInd	0	0
IRS990/PYBenefitsPaidToMembersAmt	0	0
IRS990/PYContributionsGrantsAmt	0	1128741
IRS990/PYExcessBenefitTransInd	0	0
IRS990/PYGrantsAndSimilarPaidAmt	0	702393
IRS990/PYInvestmentIncomeAmt	0	320224
IRS990/PYOtherExpensesAmt	0	168576
IRS990/PYOtherRevenueAmt	0	0
IRS990/PYProgramServiceRevenueAmt	0	10286
IRS990/PYRevenuesLessExpensesAmt	0	416347
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IRS990/PYTotalExpensesAmt	0	1042904
IRS990/PYTotalProfFndrsngExpnsAmt	0	0
IRS990/PYTotalRevenueAmt	0	1459251
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IRS990/RcvFndsToPayPrsnlBnftCntrctInd	0	0
IRS990/ReconcilationRevenueExpnssAmt	0	1138028
IRS990/RegularMonitoringEnfrcInd	0	1
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IRS990/RelatedOrganizationCtrlEntInd	0	0
IRS990/ReportInvestmentsOtherSecInd	0	0
IRS990/ReportLandBuildingEquipmentInd	0	1
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IRS990/ReportOtherLiabilitiesInd	0	0
IRS990/ReportProgramRelatedInvstInd	0	0
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IRS990/SavingsAndTempCashInvstGrp/EOYAmt	0	227966
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IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/CurrentTaxYearMinus1YearAmt	0	1128741
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Document Assets

No mirrored PDF or thumbnail assets are attached yet.

Filings

Displayed year

2018 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing

Assets: $15,027,895
Liabilities: $2,319,178
Net assets: $12,708,717
Revenue: $2,396,337
Expenses: $1,258,309
Net income: $1,138,028

	Balance Sheet			Operations
Year	Assets	Liabilities	Net Assets	Revenue	Expenses	Net Income
2024XML pending. An XML filing is linked for this year, but detailed extraction is still pending.	$34.4	$4.54	$29.9	$7.15	$5.28	$1.87
2023XML pending. An XML filing is linked for this year, but detailed extraction is still pending.	$30.0	$4.09	$25.9	$5.79	$4.42	$1.37
2022Facts available. Structured filing facts are available, but richer extracted sections are limited.	$27.1	$4.06	$23.0	$6.26	$3.31	$2.95
2021Facts available. Structured filing facts are available, but richer extracted sections are limited.	$27.6	$3.95	$23.6	$3.88	$2.71	$1.17
2020Facts available. Structured filing facts are available, but richer extracted sections are limited.	$22.6	$3.61	$19.0	$3.84	$2.10	$1.74
2019XML pending. An XML filing is linked for this year, but detailed extraction is still pending.	$19.6	$2.53	$17.0	$4.94	$1.65	$3.29
2018Detailed filing. Detailed filing data is available for this year.	$15.0	$2.32	$12.7	$2.40	$1.26	$1.14
2018XML pending. An XML filing is linked for this year, but detailed extraction is still pending.	$15.0	$2.32	$12.7	$2.40	$1.26	$1.14
2017XML pending. An XML filing is linked for this year, but detailed extraction is still pending.	$12.6	$1.21	$11.3	$1.46	$1.04	$0.42
2016Detailed filing. Detailed filing data is available for this year.	$11.5	$1.15	$10.3	$1.24	$0.90	$0.35
2015XML pending. An XML filing is linked for this year, but detailed extraction is still pending.	$11.5	$1.18	$10.3	$7.60	$0.71	$6.89
2014Detailed filing. Detailed filing data is available for this year.	$5.15	$0.97	$4.18	$0.43	$0.93	$0.50
2013Facts available. Structured filing facts are available, but richer extracted sections are limited.	$4.62	$0.25	$4.37	$1.25	$0.32	$0.93
2012Facts available. Structured filing facts are available, but richer extracted sections are limited.	$3.56	$0.32	$3.24		$0.32
2011Facts available. Structured filing facts are available, but richer extracted sections are limited.	$3.22	$0.29	$2.93		$0.22
2010Facts available. Structured filing facts are available, but richer extracted sections are limited.	$2.53	$0.19	$2.33		$0.17

Mankato Area Foundation

Balance Sheet Trend

Operations Trend

Mission

Asset Categories

Endowment Activity

Employees

Board Members and Trustees

Revenue Composition

Noncash Contribution Practices

Noncash Contributions

Audited Revenue Reconciliation

Major Expense Lines

Functional Expense Allocation

Audited Expense Reconciliation

Grant and Assistance Recipients

Fundraising and Gaming Totals

Disregarded Entities

Governance Checklist

Governance Explanations

Form 990, Part VI, Section A, line 1

Form 990, Part VI, Section A, line 8B

Form 990, Part VI, Section B, line 11B

Form 990, Part VI, Section B, line 12C

Form 990, Part VI, Section B, line 15A

Form 990, Part VI, Section C, line 19

Filer

Signing Officer

Organization Details

Preparer

Financial Statement Notes

Part IV, Line 1B:

Part IV, Line 2B:

Part V, Line 4:

Part X, Line 2:

Document Assets

Filings