Civic Intelligence

Itasca Community College Foundation

990 • Fiscal year 2016 • EIN 41-0991901

Jul 01, 2015 to Jun 30, 2016 • Filed on Nov 10, 2016

Organization ProfileWWW.ICCFOUNDATION.ORG
PO Box 539Grand Rapids, MN 55744

(218) 322-2450

Siviq Scores

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

Liabilities / Assets

15th percentile

0.00x

Higher debt load relative to assets than 15% of similar nonprofits.

2016 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2016

Liabilities / Revenue

38th percentile

0.06x

Higher debt load relative to revenue than 38% of similar nonprofits.

2016 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2016

Net Margin

1st percentile

-1120%

Higher net margin than 1% of similar nonprofits.

2016 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2016

Top Officer Pay

Score unavailable

No value available

This filing does not contain officer compensation rows.

Source year 2016

Asset Growth

17th percentile

-6.7%

Faster asset growth than 17% of similar nonprofits.

2016 filings • 501(c)3 • $1M-$5M nonprofits • Annualized from 2015 to 2016

Revenue Growth

1st percentile

-94%

Faster revenue growth than 1% of similar nonprofits.

2016 filings • 501(c)3 • $1M-$5M nonprofits • Annualized from 2015 to 2016

Balance Sheet
Liabilities / Assets15th percentile

Assets

Down

$4,385,736

Down $316,829 (-6.7%) from 2015

Net Assets

Down

$4,384,134

Down $318,431 (-6.8%) from 2015

Liabilities

Up

$1,602

Up $1,602 from 2015

Revenue And Expenses
Liabilities / Revenue38th percentileNet Margin1st percentile

Revenue

Down

$28,443

Down $434,539 (-94%) from 2015

Expenses

Down

$346,874

Down $137,022 (-28%) from 2015

Net Income

Down

-$318,431

Down $297,517 (-1423%) from 2015

Historical Trend

Balance Sheet Trend

Asset Growth17th percentile

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

2016

Assets$4,385,736
Liabilities$1,602
Net Assets$4,384,134
Open 2016 Filing

Operations Trend

Revenue Growth1st percentile

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

2016

Revenue$28,443
Expenses$346,874
Net Income-$318,431
Open 2016 Filing
Jump To
Filing Snapshot
Filing Period
Jul 1, 2015 to Jun 30, 2016
Signed
Nov 10, 2016
Return Version
2015v3.0
Gross Receipts
$28,443
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$4,540,251$4,204,830▼ $335,421
Investments Other Securities$116,279$116,714▲ $435
Cash and Non-Interest-Bearing Accounts$16,399$33,383▲ $16,984
Savings and Temporary Cash Investments$3,907$10,039▲ $6,132
Accounts Receivable$5,713$899▼ $4,814
Total Assets$4,702,565$4,385,736▼ $316,829
Other Assets Total$20,016$19,871▼ $145
Liabilities
Accounts Payable and Accrued Expenses-$1,602-
Total Liabilities$0$1,602▲ $1,602
Net Assets / Fund Balance
Permanently Rstr Net Assets$2,841,026$2,865,435▲ $24,409
Temporarily Rstr Net Assets$1,135,619$921,688▼ $213,931
Unrestricted Net Assets$725,920$597,011▼ $128,909
Total Net Assets Fund Balance$4,702,565$4,384,134▼ $318,431
Total Liabilities and Net Assets / Fund Balance$4,702,565$4,385,736▼ $316,829
Compensation and Service Providers
Top Officer PayScore unavailable

Employees

NameTitleFull / Part TimeBaseTotal
Susan LynchFoundation DFT$53,025$53,025

Board Members and Trustees

NameTitle
Cindy FeyderChair
Ben EdwardsVice-chair
Debbie BrunsDirector
Jackie GallopDirector
Kirk AdamsDirector
Loren SolbergDirector
Mary IvesDirector
Peter BirkeyDirector
Rebecca ClaftonDirector
Ron OleheiserDirector
Pat MedureSecretary
Shane SkellyTreasurer
Revenue and Support

Revenue Composition

Contributions and Grants
$120,854
Program Service Revenue
$0
Investment Income
$-113,003
Other Revenue
$20,592
All Other Contributions
$120,854
Change in Net Assets
$-318,431

Audited Revenue Reconciliation

Revenue per Audited Statements
$28,443
Revenue Not Reported on Form 990
$11,975
Total Revenue per Audited Statements
$40,418
Total Revenue per Form 990
$28,443
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Grants and Similar Amounts Paid$172,464
Salaries, Compensation, and Employee Benefits$94,993
Other Expenses$79,417
Total Fundraising Expense$836
Professional Fundraising Fees$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Grants to Domestic Individuals$172,464--$172,464
Current Officers, Directors, Trustees, and Key Employees-$53,025-$53,025
Other Salaries and Wages-$30,999-$30,999
Fees for Services Accounting-$16,456-$16,456
Payroll Taxes-$6,427-$6,427
Advertising-$4,676-$4,676
Other Employee Benefits-$4,542-$4,542
Office Expenses-$1,359$836$2,195
Other Expenses$30,810$608-$608
Travel-$522-$522
Total Functional Expenses$203,274$142,764$836$346,874

Audited Expense Reconciliation

Line ItemAmount
Total Expenses per Audited Statements$358,849
Expenses per Audited Statements$346,874
Total Expenses per Form 990$346,874
Expenses Not Reported on Form 990$11,975
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

Filer Name
Itasca Community College Foundation
EIN
41-0991901
Phone
2183222450
Address
PO BOX 539, GRAND RAPIDS, MN 55744
Doing Business As
Itasca Community College Foundation

Signing Officer

Name
Susan Lynch
Title
Foundation Director
Phone
2183222450
Signed
2016-11-10
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Susan Lynch
Formed
1988
Legal Domicile
Mn
Voting Board Members
12
Independent Board Members
12
Employees
3

Preparer

Firm
Sholom R Blake CPA
Address
16 NE 3RD ST, GRAND RAPIDS, MN 55744-2726
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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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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IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/CurrentTaxYearMinus3YearsAmt0177840
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/CurrentTaxYearMinus4YearsAmt0140337
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/TotalAmt01082116
IRS990ScheduleA/GovtFurnSrvcFcltsVl170Grp/CurrentTaxYearAmt011975
IRS990ScheduleA/GovtFurnSrvcFcltsVl170Grp/CurrentTaxYearMinus1YearAmt011325
IRS990ScheduleA/GovtFurnSrvcFcltsVl170Grp/CurrentTaxYearMinus2YearsAmt011325
IRS990ScheduleA/GovtFurnSrvcFcltsVl170Grp/CurrentTaxYearMinus3YearsAmt011092
IRS990ScheduleA/GovtFurnSrvcFcltsVl170Grp/CurrentTaxYearMinus4YearsAmt011525
IRS990ScheduleA/GovtFurnSrvcFcltsVl170Grp/TotalAmt057242
IRS990ScheduleA/GrossInvestmentIncome170Grp/CurrentTaxYearAmt0116977
IRS990ScheduleA/GrossInvestmentIncome170Grp/CurrentTaxYearMinus1YearAmt086547
IRS990ScheduleA/GrossInvestmentIncome170Grp/CurrentTaxYearMinus2YearsAmt096425
IRS990ScheduleA/GrossInvestmentIncome170Grp/CurrentTaxYearMinus3YearsAmt078085
IRS990ScheduleA/GrossInvestmentIncome170Grp/CurrentTaxYearMinus4YearsAmt079464
IRS990ScheduleA/GrossInvestmentIncome170Grp/TotalAmt0457498
IRS990ScheduleA/GrossReceiptsRltdActivitiesAmt020592
IRS990ScheduleA/PublicSupportCY170Pct00.71350
IRS990ScheduleA/PublicSupportPY170Pct00.72330
IRS990ScheduleA/PublicSupportTotal170Amt01139358
IRS990ScheduleA/ThirtyThrPctSuprtTestsCY170Ind0X
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IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearMinus3YearsAmt0188932
IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearMinus4YearsAmt0151862
IRS990ScheduleA/TotalCalendarYear170Grp/TotalAmt01139358
IRS990ScheduleA/TotalSupportAmt01596856
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IRS990ScheduleD/DonatedServicesAndUseFcltsAmt011975
IRS990ScheduleD/DonatedServicesUseFcltsAmt011975
IRS990ScheduleD/ExpensesNotReportedAmt011975
IRS990ScheduleD/ExpensesSubtotalAmt0346874
IRS990ScheduleD/RevenueNotReportedAmt011975
IRS990ScheduleD/RevenueSubtotalAmt028443
IRS990ScheduleD/TotalExpensesPerForm990Amt0346874
IRS990ScheduleD/TotalRevenuePerForm990Amt028443
IRS990ScheduleD/TotalRevEtcAuditedFinclStmtAmt040418
IRS990ScheduleD/TotExpnsEtcAuditedFinclStmtAmt0358849
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IRS990ScheduleI/GrantsOtherAsstToIndivInUSGrp/CashGrantAmt0172464
IRS990ScheduleI/GrantsOtherAsstToIndivInUSGrp/GrantTypeTxt0SCHOLARSHIP
IRS990ScheduleI/GrantsOtherAsstToIndivInUSGrp/RecipientCnt0155
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/SubjectToProxyTaxInd0false
IRS990/TaxablePartyNotificationInd0false
IRS990/TaxExemptBondsInd0false
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IRS990/TempOrPermanentEndowmentsInd0false
IRS990/TerminateOperationsInd0false
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IRS990/TotalContributionsAmt0120854
IRS990/TotalEmployeeCnt03
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IRS990/TotalFunctionalExpensesGrp/ManagementAndGeneralAmt0142764
IRS990/TotalFunctionalExpensesGrp/ProgramServicesAmt0203274
IRS990/TotalFunctionalExpensesGrp/TotalAmt0346874
IRS990/TotalGrossUBIAmt00
IRS990/TotalLiabilitiesEOYAmt01602
IRS990/TotalLiabilitiesGrp/BOYAmt00
IRS990/TotalLiabilitiesGrp/EOYAmt01602
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IRS990/TotalNetAssetsFundBalanceGrp/EOYAmt04384134
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IRS990/TotalRevenueGrp/TotalRevenueColumnAmt028443
IRS990/TotLiabNetAssetsFundBalanceGrp/BOYAmt04702565
IRS990/TotLiabNetAssetsFundBalanceGrp/EOYAmt04385736
IRS990/TravelGrp/ManagementAndGeneralAmt0522
IRS990/TravelGrp/TotalAmt0522
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IRS990/UnrelatedBusIncmOverLimitInd0false
IRS990/UnrestrictedNetAssetsGrp/BOYAmt0725920
IRS990/UnrestrictedNetAssetsGrp/EOYAmt0597011
IRS990/UponRequestInd0X
IRS990/VotingMembersGoverningBodyCnt012
IRS990/VotingMembersIndependentCnt012
IRS990/WebsiteAddressTxt0WWW.ICCFOUNDATION.ORG
IRS990/WhistleblowerPolicyInd0true
ReturnHeader/BuildTS02017-02-10 21:41:12Z
ReturnHeader/BusinessOfficerGrp/DiscussWithPaidPreparerInd0true
ReturnHeader/BusinessOfficerGrp/PersonNm0SUSAN LYNCH
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0FOUNDATION DIRECTOR
ReturnHeader/BusinessOfficerGrp/PhoneNum02183222450
ReturnHeader/BusinessOfficerGrp/SignatureDt02016-11-10
ReturnHeader/Filer/BusinessName/BusinessNameLine1Txt0ITASCA COMMUNITY COLLEGE FOUNDATION
ReturnHeader/Filer/BusinessNameControlTxt0ITAS
ReturnHeader/Filer/EIN0410991901
ReturnHeader/Filer/PhoneNum02183222450
ReturnHeader/Filer/USAddress/AddressLine1Txt0PO BOX 539
ReturnHeader/Filer/USAddress/CityNm0GRAND RAPIDS
ReturnHeader/Filer/USAddress/StateAbbreviationCd0MN
ReturnHeader/Filer/USAddress/ZIPCd055744
ReturnHeader/PreparerFirmGrp/PreparerFirmEIN0264434097
ReturnHeader/PreparerFirmGrp/PreparerFirmName/BusinessNameLine1Txt0SHOLOM R BLAKE CPA
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/AddressLine1Txt016 NE 3RD ST
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/CityNm0GRAND RAPIDS
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/StateAbbreviationCd0MN
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/ZIPCd0557442726
ReturnHeader/PreparerPersonGrp/PhoneNum02183262879
ReturnHeader/PreparerPersonGrp/PreparationDt02017-02-16
ReturnHeader/PreparerPersonGrp/PreparerPersonNm0SHOLOM R BLAKE CPA
ReturnHeader/ReturnTs02017-02-20T09:31:00-06:00
ReturnHeader/ReturnTypeCd0990
ReturnHeader/TaxPeriodBeginDt02015-07-01
ReturnHeader/TaxPeriodEndDt02016-06-30
ReturnHeader/TaxYr02015

Document Assets

No mirrored PDF or thumbnail assets are attached yet.

Filings

Displayed year

2016 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$4,385,736
Liabilities
$1,602
Net assets
$4,384,134
Revenue
$28,443
Expenses
$346,874
Net income
-$318,431
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
2016Detailed filing. Detailed filing data is available for this year.$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