Civic Intelligence

Itasca Community College Foundation

990 • Fiscal year 2014 • EIN 41-0991901

Jul 01, 2013 to Jun 30, 2014 • Filed on Sep 23, 2014

PO Box 539Grand Rapids, MN 55744

(218) 327-4205

Siviq Scores

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

Liabilities / Assets

14th percentile

0.00x

Higher debt load relative to assets than 14% of similar nonprofits.

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

Liabilities / Revenue

17th percentile

0.00x

Higher debt load relative to revenue than 17% of similar nonprofits.

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

Net Margin

24th percentile

-7.1%

Higher net margin than 24% of similar nonprofits.

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

Top Officer Pay

Score unavailable

No value available

This filing does not contain officer compensation rows.

Source year 2014

Asset Growth

76th percentile

13%

Faster asset growth than 76% of similar nonprofits.

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

Revenue Growth

Score unavailable

No value available

No earlier valid filing was available within the previous three public years.

Source year 2014

Assets

Up

$4,754,597

Up $562,944 (+13%) from 2013

Net Assets

Up

$4,753,124

Up $562,806 (+13%) from 2013

Liabilities

Up

$1,473

Up $138 (+10%) from 2013

Revenue

Up

$362,227

Up $84,509 (+30%) from 2013

Expenses

Up

$388,090

Up $55,676 (+17%) from 2013

Net Income

Up

-$25,863

Up $28,833 (+53%) from 2013

Historical Trend

Balance Sheet Trend

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

$6.0M$4.0M$2.0M$0Assets 2011: $4,034,554Liabilities 2011: $1,085Net Assets 2011: $4,033,4692011Assets 2012: $3,827,790Liabilities 2012: $10,537Net Assets 2012: $3,817,2532012Assets 2013: $4,191,653Liabilities 2013: $1,335Net Assets 2013: $4,190,3182013Assets 2014: $4,754,597Liabilities 2014: $1,473Net Assets 2014: $4,753,1242014Assets 2015: $4,702,565Liabilities 2015: $0Net Assets 2015: $4,702,5652015Assets 2016: $4,385,736Liabilities 2016: $1,602Net Assets 2016: $4,384,1342016Assets 2017: $4,932,130Liabilities 2017: $3,259Net Assets 2017: $4,928,8712017Assets 2018: $5,519,362Liabilities 2018: $2,988Net Assets 2018: $5,516,3742018Assets 2019: $5,971,590Liabilities 2019: $6,394Net Assets 2019: $5,965,1962019Assets 2020: $5,592,088Liabilities 2020: $2,061Net Assets 2020: $5,590,0272020Assets 2021: $5,564,379Liabilities 2021: $1,425Net Assets 2021: $5,562,9542021Assets 2022: $4,845,985Liabilities 2022: $3,353Net Assets 2022: $4,842,6322022Assets 2023: $5,277,046Liabilities 2023: $30,023Net Assets 2023: $5,247,0232023Assets 2024: $5,852,843Liabilities 2024: $15,856Net Assets 2024: $5,836,9872024

Highlighted filing

2014

Assets$4,754,597
Liabilities$1,473
Net Assets$4,753,124

Operations Trend

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

$4.0M$2.0M$0-$2.0MExpenses 2011: $248,1372011Expenses 2012: $299,7682012Revenue 2013: $277,718Expenses 2013: $332,414Net Income 2013: -$54,6962013Revenue 2014: $362,227Expenses 2014: $388,090Net Income 2014: -$25,8632014Revenue 2015: $462,982Expenses 2015: $483,896Net Income 2015: -$20,9142015Revenue 2016: $28,443Expenses 2016: $346,874Net Income 2016: -$318,4312016Revenue 2017: $1,140,084Expenses 2017: $324,671Net Income 2017: $815,4132017Revenue 2018: $946,515Expenses 2018: $359,012Net Income 2018: $587,5032018Revenue 2019: $848,822Expenses 2019: $400,000Net Income 2019: $448,8222019Revenue 2020: $3,235,707Expenses 2020: $3,566,078Net Income 2020: -$330,3712020Revenue 2021: $931,890Expenses 2021: $2,099,045Net Income 2021: -$1,167,1552021Revenue 2022: -$301,295Expenses 2022: $419,027Net Income 2022: -$720,3222022Revenue 2023: $488,996Expenses 2023: $454,710Net Income 2023: $34,2862023Revenue 2024: $696,604Expenses 2024: $410,978Net Income 2024: $285,6262024

Highlighted filing

2014

Revenue$362,227
Expenses$388,090
Net Income-$25,863
Jump To
Filing Snapshot
Filing Period
Jul 1, 2013 to Jun 30, 2014
Signed
Sep 23, 2014
Return Version
2013v3.1
Gross Receipts
$362,227
Mission and Program Overview

Mission

The ICC Foundation supports and benefits students and the college by encouraging and facilitating financial contributions from alumni and friends of the college.

To secure and facilitate voluntary support from the independent sector to fund student assistance and special programs in response to unique educational needs and opportunities in the area.

Balance Sheet Detail
LineBeginningEndChange
Assets
Investments in Publicly Traded Securities$3,983,668$4,582,193▲ $598,525
Investments Other Securities$115,268$115,790▲ $522
Cash and Non-Interest-Bearing Accounts$30,384$15,887▼ $14,497
Savings and Temporary Cash Investments$39,661$13,970▼ $25,691
Accounts Receivable$5,602$5,625▲ $23
Total Assets$4,191,653$4,754,597▲ $562,944
Other Assets Total$17,070$21,132▲ $4,062
Liabilities
Deferred Revenue$1,085$1,085→ $0
Accounts Payable and Accrued Expenses$250$388▲ $138
Total Liabilities$1,335$1,473▲ $138
Net Assets / Fund Balance
Permanently Rstr Net Assets$2,678,799$2,756,342▲ $77,543
Temporarily Rstr Net Assets$898,494$1,185,204▲ $286,710
Unrestricted Net Assets$613,025$811,578▲ $198,553
Total Net Assets Fund Balance$4,190,318$4,753,124▲ $562,806
Total Liabilities and Net Assets / Fund Balance$4,191,653$4,754,597▲ $562,944
Compensation and Service Providers

Employees

NameTitleFull / Part TimeBaseOtherTotal
Janet NeurauterDirector ofFT$58,875$2,059$60,934

Board Members and Trustees

NameTitle
Pat MedureChair
Kathie AllenVice Chair
Ben EdwardsDirector
Christopher WorthDirector
Debbie BrunsDirector
Jim LamkeDirector
Loren SolbergDirector
Mary IvesDirector
Ron UlsethDirector
Barbara McdonaldEx-officio
John RothsteinEx-officio
Sandy AntonovichSecretary
Shane SkellyTreasurer
Revenue and Support

Revenue Composition

Contributions and Grants
$246,058
Program Service Revenue
$0
Investment Income
$96,425
Other Revenue
$19,744
All Other Contributions
$246,058
Change in Net Assets
$-25,863

Audited Revenue Reconciliation

Revenue per Audited Statements
$362,227
Revenue Not Reported on Form 990
$599,994
Total Revenue per Audited Statements
$962,221
Total Revenue per Form 990
$362,227
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Grants and Similar Amounts Paid$228,766
Salaries, Compensation, and Employee Benefits$102,289
Other Expenses$57,035
Total Fundraising Expense$3,689
Professional Fundraising Fees$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Grants to Domestic Individuals$228,766--$228,766
Current Officers, Directors, Trustees, and Key Employees-$60,934-$60,934
Other Salaries and Wages-$33,199-$33,199
Fees for Services Accounting-$14,205-$14,205
Payroll Taxes-$7,044-$7,044
Advertising-$5,148-$5,148
Office Expenses-$604$3,689$4,293
Travel-$3,110-$3,110
Other Expenses-$2,072-$2,072
Other Employee Benefits-$1,112-$1,112
Total Functional Expenses$228,766$155,635$3,689$388,090

Audited Expense Reconciliation

Line ItemAmount
Total Expenses per Audited Statements$399,415
Expenses per Audited Statements$388,090
Total Expenses per Form 990$388,090
Expenses Not Reported on Form 990$11,325
Fundraising, Events, and Gaming
Fundraising activities
No
Gaming activities
No
Professional fundraiser used
No

Fundraising and Gaming Totals

Line ItemAmount
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
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
No
Key decisions subject to board approval
No
Management duties delegated
No

Governance Explanations

Form 990, Page 6, Part VI, Line 11B

Return provided to the board of directors for review and comment prior to filing

Form 990, Page 6, Part VI, Line 15A

The executive/development directors compensation is reviewed and determined by the board of directors on an annual basis

Form 990, Page 6, Part VI, Line 19

AVAILABLE UPON REQUEST

Filing and Contact Details

Filer

EIN
41-0991901
Phone
2183274205

Signing Officer

Name
Janet Neurauter
Title
Development Director
Phone
2183274205
Signed
2014-09-23
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Janet Neurauter
Formed
1988
Legal Domicile
Mn
Voting Board Members
11
Independent Board Members
11
Employees
2

Preparer

Preparer
Sholom R Blake CPA
Phone
2183262879
Supplemental Narrative

Additional Explanations

FORM 990 - ORGANIZATION'S MISSION

To secure and facilitate voluntary support from the independent sector to fund student assistance and special programs in response to unique educational needs and opportunities in the area.

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IRS990ScheduleI/GrantsOtherAsstToIndivInUSGrp/RecipientCnt0154
IRS990ScheduleI/SupplementalInformationDetail/ExplanationTxt0THE ITASCA COMMUNITY COLLEGE FOUNDATION PROVIDES GRANTS AND SCHOLARSHIPS TO INDIVIDUAL STUDENTS ATTENDING THE COLLEGE IN ORDER TO MAKE COLLEGE MORE AFFORDABLE. SCHOLARSHIPS ARE AWARDED BASED ON FACTORS DETERMINED BY THE INDIVIDUAL SCHOLARSHIP FUND AND MAY INCLUDE ITEMS SUCH AS FIELD OF STUDY, GEOGRAPHIC AREA, NEED AND ACADEMIC ACHIEVEMENT. THE NUMBER OF SCHOLARSHIPS AWARDED ON AN ANNUAL BASIS VARIES BASED ON THE FUNDS AVAILABLE AND THE NUMBER OF APPLICANTS.
IRS990ScheduleI/SupplementalInformationDetail/FormAndLineReferenceDesc0SCHEDULE I, PAGE 4, PART IV
IRS990/ScheduleJRequiredInd0false
IRS990/ScheduleORequiredInd0true
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0TO SECURE AND FACILITATE VOLUNTARY SUPPORT FROM THE INDEPENDENT SECTOR TO FUND STUDENT ASSISTANCE AND SPECIAL PROGRAMS IN RESPONSE TO UNIQUE EDUCATIONAL NEEDS AND OPPORTUNITIES IN THE AREA.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1RETURN PROVIDED TO THE BOARD OF DIRECTORS FOR REVIEW AND COMMENT PRIOR TO FILING
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2THE EXECUTIVE/DEVELOPMENT DIRECTORS COMPENSATION IS REVIEWED AND DETERMINED BY THE BOARD OF DIRECTORS ON AN ANNUAL BASIS
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3AVAILABLE UPON REQUEST
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0FORM 990 - ORGANIZATION'S MISSION
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1FORM 990, PAGE 6, PART VI, LINE 11B
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2FORM 990, PAGE 6, PART VI, LINE 15A
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3FORM 990, PAGE 6, PART VI, LINE 19
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IRS990/UponRequestInd0X
IRS990/USAddress/AddressLine101851 E HWY 169
IRS990/USAddress/City0GRAND RAPIDS
IRS990/USAddress/State0MN
IRS990/USAddress/ZIPCode055744
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IRS990/VotingMembersIndependentCnt011
IRS990/WebsiteAddressTxt0WWW.ICCFOUNDATION.ORG
IRS990/WhistleblowerPolicyInd0true
ReturnHeader/BuildTS02015-11-30 17:44:51Z
ReturnHeader/BusinessOfficerGrp/DiscussWithPaidPreparerInd0true
ReturnHeader/BusinessOfficerGrp/PersonNm0JANET NEURAUTER
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0DEVELOPMENT DIRECTOR
ReturnHeader/BusinessOfficerGrp/PhoneNum02183274205
ReturnHeader/BusinessOfficerGrp/SignatureDt02014-09-23
ReturnHeader/Filer/BusinessName/BusinessNameLine10ITASCA COMMUNITY COLLEGE FOUNDATION
ReturnHeader/Filer/BusinessNameControlTxt0ITAS
ReturnHeader/Filer/EIN0410991901
ReturnHeader/Filer/PhoneNum02183274205
ReturnHeader/Filer/USAddress/AddressLine10PO BOX 539
ReturnHeader/Filer/USAddress/City0GRAND RAPIDS
ReturnHeader/Filer/USAddress/State0MN
ReturnHeader/Filer/USAddress/ZIPCode055744
ReturnHeader/PreparerFirmGrp/PreparerFirmEIN0202148012
ReturnHeader/PreparerFirmGrp/PreparerFirmName/BusinessNameLine10SHOLOM R BLAKE CPA

Document Assets

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Filings

Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$5.85$0.02$5.84$0.70$0.41$0.29
2023Detailed filing. Detailed filing data is available for this year.$5.28$0.03$5.25$0.49$0.45$0.03
2022XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$4.85$0.00$4.84$0.30$0.42$0.72
2021Facts available. Structured filing facts are available, but richer extracted sections are limited.$5.56$0.00$5.56$0.93$2.10$1.17
2020XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$5.59$0.00$5.59$3.24$3.57$0.33
2019Import issue. A filing source exists for this year, but detailed import did not complete cleanly.$5.97$0.01$5.97$0.85$0.40$0.45
2018XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$5.52$0.00$5.52$0.95$0.36$0.59
2017XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$4.93$0.00$4.93$1.14$0.32$0.82
2016XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$4.39$0.00$4.38$0.03$0.35$0.32
2015XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$4.70$0.00$4.70$0.46$0.48$0.02
2014Detailed filing. Detailed filing data is available for this year.$4.75$0.00$4.75$0.36$0.39$0.03
2013Import issue. A filing source exists for this year, but detailed import did not complete cleanly.$4.19$0.00$4.19$0.28$0.33$0.05
2012Facts available. Structured filing facts are available, but richer extracted sections are limited.$3.83$0.01$3.82$0.30
2011Facts available. Structured filing facts are available, but richer extracted sections are limited.$4.03$0.00$4.03$0.25