Civic Intelligence

Itasca Cmmunity College Foundation

990 • Fiscal year 2018 • EIN 41-0991901

Jul 01, 2017 to Jun 30, 2018 • Filed on Nov 12, 2018

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

(218) 322-2451

Siviq Scores

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

Liabilities / Assets

9th percentile

0.00x

Higher debt load relative to assets than 9% of similar nonprofits.

2018 filings • 501(c)3 • $5M-$10M nonprofits • Source year 2018

Liabilities / Revenue

9th percentile

0.00x

Higher debt load relative to revenue than 9% of similar nonprofits.

2018 filings • 501(c)3 • $5M-$10M nonprofits • Source year 2018

Net Margin

93rd percentile

62%

Higher net margin than 93% of similar nonprofits.

2018 filings • 501(c)3 • $5M-$10M nonprofits • Source year 2018

Top Officer Pay

Score unavailable

No value available

This filing does not contain officer compensation rows.

Source year 2018

Asset Growth

76th percentile

12%

Faster asset growth than 76% of similar nonprofits.

2018 filings • 501(c)3 • $5M-$10M nonprofits • Annualized from 2017 to 2018

Revenue Growth

14th percentile

-17%

Faster revenue growth than 14% of similar nonprofits.

2018 filings • 501(c)3 • $5M-$10M nonprofits • Annualized from 2017 to 2018

Balance Sheet
Liabilities / Assets9th percentile

Assets

Up

$5,519,362

Up $587,232 (+12%) from 2017

Net Assets

Up

$5,516,374

Up $587,503 (+12%) from 2017

Liabilities

Down

$2,988

Down $271 (-8.3%) from 2017

Revenue And Expenses
Liabilities / Revenue9th percentileNet Margin93rd percentile

Revenue

Down

$946,515

Down $193,569 (-17%) from 2017

Expenses

Up

$359,012

Up $34,341 (+11%) from 2017

Net Income

Down

$587,503

Down $227,910 (-28%) from 2017

Historical Trend

Balance Sheet Trend

Asset Growth76th 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

2018

Assets$5,519,362
Liabilities$2,988
Net Assets$5,516,374
Open 2018 Filing

Operations Trend

Revenue Growth14th 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

2018

Revenue$946,515
Expenses$359,012
Net Income$587,503
Open 2018 Filing
Jump To
Filing Snapshot
Filing Period
Jul 1, 2017 to Jun 30, 2018
Signed
Nov 12, 2018
Return Version
2017v2.3
Gross Receipts
$946,515
Mission and Program Overview

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.

Balance Sheet Detail
LineBeginningEndChange
Assets
Investments in Publicly Traded Securities$4,807,472$5,302,731▲ $495,259
Cash and Non-Interest-Bearing Accounts$59,694$180,835▲ $121,141
Investments Other Securities$12,423$12,632▲ $209
Accounts Receivable$708$1,438▲ $730
Savings and Temporary Cash Investments$31,346$780▼ $30,566
Total Assets$4,932,130$5,519,362▲ $587,232
Other Assets Total$20,487$20,946▲ $459
Liabilities
Accounts Payable and Accrued Expenses$3,259$2,988▼ $271
Total Liabilities$3,259$2,988▼ $271
Net Assets / Fund Balance
Permanently Rstr Net Assets$2,891,700$2,958,538▲ $66,838
Temporarily Rstr Net Assets$1,243,088$1,762,086▲ $518,998
Unrestricted Net Assets$794,083$795,750▲ $1,667
Total Net Assets Fund Balance$4,928,871$5,516,374▲ $587,503
Total Liabilities and Net Assets / Fund Balance$4,932,130$5,519,362▲ $587,232
Compensation and Service Providers
Top Officer PayScore unavailable

Employees

NameTitleFull / Part TimeBaseOtherTotal
Susan LynchFoundation DFT$66,250$1,988$68,238

Board Members and Trustees

NameTitle
Ron OleheiserChair
Cindy FeyderPast Chair
Dan GillmanDirector
Debbie BrunsDirector
Diane DavisDirector
Donna AndersonDirector
Janice KangasDirector
Mary IvesDirector
Peter BirkeyDirector
Tom McbrideDirector
Pat MedureSecretary
Kirk AdamsTreasurer
Revenue and Support

Revenue Composition

Contributions and Grants
$540,379
Program Service Revenue
$0
Investment Income
$406,136
Other Revenue
$0
All Other Contributions
$540,379
Change in Net Assets
$587,503

Audited Revenue Reconciliation

Revenue per Audited Statements
$946,515
Revenue Not Reported on Form 990
$12,705
Total Revenue per Audited Statements
$959,220
Total Revenue per Form 990
$946,515
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$135,112
Grants and Similar Amounts Paid$125,825
Salaries, Compensation, and Employee Benefits$98,075
Total Fundraising Expense$11,922
Professional Fundraising Fees$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Grants to Domestic Individuals$125,825--$125,825
Current Officers, Directors, Trustees, and Key Employees-$68,238-$68,238
Other Salaries and Wages-$24,673-$24,673
Fees for Services Accounting-$20,373-$20,373
Other Expenses$69,096$14,804-$14,804
Travel--$6,082$6,082
Payroll Taxes-$5,164-$5,164
Office Expenses-$2,457$2,117$4,574
Advertising--$3,723$3,723
Total Functional Expenses$194,921$152,169$11,922$359,012

Audited Expense Reconciliation

Line ItemAmount
Total Expenses per Audited Statements$371,717
Expenses per Audited Statements$359,012
Total Expenses per Form 990$359,012
Expenses Not Reported on Form 990$12,705
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 electronically 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
2183222451
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
2018-11-12
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
1

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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IRS990ScheduleI/GrantsOtherAsstToIndivInUSGrp/RecipientCnt0141
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
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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 ELECTRONICALLY 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
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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/TerminateOperationsInd0false
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IRS990/TotalContributionsAmt0540379
IRS990/TotalEmployeeCnt01
IRS990/TotalFunctionalExpensesGrp/FundraisingAmt011922
IRS990/TotalFunctionalExpensesGrp/ManagementAndGeneralAmt0152169
IRS990/TotalFunctionalExpensesGrp/ProgramServicesAmt0194921
IRS990/TotalFunctionalExpensesGrp/TotalAmt0359012
IRS990/TotalGrossUBIAmt00
IRS990/TotalLiabilitiesBOYAmt03259
IRS990/TotalLiabilitiesEOYAmt02988
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IRS990/TotalRevenueGrp/TotalRevenueColumnAmt0946515
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IRS990/TravelGrp/FundraisingAmt06082
IRS990/TravelGrp/TotalAmt06082
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IRS990/UnrelatedBusIncmOverLimitInd0false
IRS990/UnrestrictedNetAssetsGrp/BOYAmt0794083
IRS990/UnrestrictedNetAssetsGrp/EOYAmt0795750
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IRS990/VotingMembersIndependentCnt012
IRS990/WebsiteAddressTxt0WWW.ICCFOUNDATION.ORG
IRS990/WhistleblowerPolicyInd0true
ReturnHeader/BuildTS02019-02-21 02:37:17Z
ReturnHeader/BusinessOfficerGrp/DiscussWithPaidPreparerInd0true
ReturnHeader/BusinessOfficerGrp/PersonNm0SUSAN LYNCH
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0FOUNDATION DIRECTOR
ReturnHeader/BusinessOfficerGrp/PhoneNum02183222450
ReturnHeader/BusinessOfficerGrp/SignatureDt02018-11-12
ReturnHeader/Filer/BusinessName/BusinessNameLine1Txt0ITASCA COMMUNITY COLLEGE FOUNDATION
ReturnHeader/Filer/BusinessNameControlTxt0ITAS
ReturnHeader/Filer/EIN0410991901
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ReturnHeader/Filer/USAddress/AddressLine1Txt0PO BOX 539
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ReturnHeader/FilingSecurityInformation/FilingLicenseTypeCd0P
ReturnHeader/FilingSecurityInformation/IPAddress/IPv4AddressTxt0167.68.16.49
ReturnHeader/FilingSecurityInformation/IPDt02018-12-05
ReturnHeader/FilingSecurityInformation/IPTimezoneCd0CS
ReturnHeader/FilingSecurityInformation/IPTm015:56:03
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/PreparationDt02018-11-30
ReturnHeader/PreparerPersonGrp/PreparerPersonNm0SHOLOM R BLAKE CPA
ReturnHeader/ReturnTs02018-12-05T15:56:03-06:00
ReturnHeader/ReturnTypeCd0990
ReturnHeader/TaxPeriodBeginDt02017-07-01
ReturnHeader/TaxPeriodEndDt02018-06-30
ReturnHeader/TaxYr02017

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
$5,519,362
Liabilities
$2,988
Net assets
$5,516,374
Revenue
$946,515
Expenses
$359,012
Net income
$587,503
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
2018Detailed filing. Detailed filing data is available for this year.$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