Civic Intelligence

Salolampi Foundation

990 • Fiscal year 2020 • EIN 41-1355241

Jan 01, 2020 to Dec 31, 2020 • Filed on Oct 14, 2021

P O Box 14480Minneapolis, MN 55414-0480

(651) 210-5281

Siviq Scores

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

Liabilities / Assets

16th percentile

0.00x

Higher debt load relative to assets than 16% of similar nonprofits.

2020 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2020

Liabilities / Revenue

17th percentile

0.00x

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

2020 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2020

Net Margin

95th percentile

69%

Higher net margin than 95% of similar nonprofits.

2020 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2020

Top Officer Pay

37th percentile

$0

Higher top officer pay than 37% of similar nonprofits.

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

2020 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2020

Asset Growth

66th percentile

15%

Faster asset growth than 66% of similar nonprofits.

2020 filings • 501(c)3 • $1M-$5M nonprofits • Annualized from 2019 to 2020

Revenue Growth

30th percentile

-12%

Faster revenue growth than 30% of similar nonprofits.

2020 filings • 501(c)3 • $1M-$5M nonprofits • Annualized from 2019 to 2020

Assets

Up

$1,503,799

Up $192,027 (+15%) from 2019

Net Assets

Up

$1,503,661

Up $191,889 (+15%) from 2019

Liabilities

Up

$138

Up $138 from 2019

Revenue

Down

$97,062

Down $13,373 (-12%) from 2019

Expenses

Down

$29,742

Down $95,011 (-76%) from 2019

Net Income

Up

$67,320

Up $81,638 (+570%) from 2019

Historical Trend

Balance Sheet Trend

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

$2.0M$1.5M$1.0M$500K$0Assets 2010: $468,030Liabilities 2010: $0Net Assets 2010: $468,0302010Assets 2011: $755,574Liabilities 2011: $0Net Assets 2011: $755,5742011Assets 2012: $979,183Liabilities 2012: $0Net Assets 2012: $979,1832012Assets 2013: $1,164,419Liabilities 2013: $0Net Assets 2013: $1,164,4192013Assets 2014: $1,186,792Liabilities 2014: $0Net Assets 2014: $1,186,7922014Assets 2015: $1,107,680Liabilities 2015: $0Net Assets 2015: $1,107,6802015Assets 2016: $1,196,626Liabilities 2016: $0Net Assets 2016: $1,196,6262016Assets 2017: $1,303,946Liabilities 2017: $0Net Assets 2017: $1,303,9462017Assets 2018: $1,167,380Liabilities 2018: $0Net Assets 2018: $1,167,3802018Assets 2019: $1,311,772Liabilities 2019: $0Net Assets 2019: $1,311,7722019Assets 2020: $1,503,799Liabilities 2020: $138Net Assets 2020: $1,503,6612020Assets 2021: $1,694,897Liabilities 2021: $473Net Assets 2021: $1,694,4242021Assets 2022: $1,506,778Liabilities 2022: $673Net Assets 2022: $1,506,1052022Assets 2023: $1,687,630Liabilities 2023: $62Net Assets 2023: $1,687,5682023Assets 2024: $1,874,752Liabilities 2024: $2,598Net Assets 2024: $1,872,1542024

Highlighted filing

2020

Assets$1,503,799
Liabilities$138
Net Assets$1,503,661

Operations Trend

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

$400K$200K$0-$200KRevenue 2010: $139,003Expenses 2010: $62,984Net Income 2010: $76,0192010Revenue 2011: $368,417Expenses 2011: $49,440Net Income 2011: $318,9772011Expenses 2012: $72,4682012Revenue 2013: $232,660Expenses 2013: $63,175Net Income 2013: $169,4852013Revenue 2014: $70,200Expenses 2014: $64,351Net Income 2014: $5,8492014Revenue 2015: $52,492Expenses 2015: $91,371Net Income 2015: -$38,8792015Revenue 2016: $89,515Expenses 2016: $88,060Net Income 2016: $1,4552016Revenue 2017: $64,271Expenses 2017: $104,180Net Income 2017: -$39,9092017Revenue 2018: $62,300Expenses 2018: $108,976Net Income 2018: -$46,6762018Revenue 2019: $110,435Expenses 2019: $124,753Net Income 2019: -$14,3182019Revenue 2020: $97,062Expenses 2020: $29,742Net Income 2020: $67,3202020Revenue 2021: $134,853Expenses 2021: $62,842Net Income 2021: $72,0112021Revenue 2022: $97,824Expenses 2022: $52,783Net Income 2022: $45,0412022Revenue 2023: $119,225Expenses 2023: $71,682Net Income 2023: $47,5432023Revenue 2024: $86,697Expenses 2024: $59,376Net Income 2024: $27,3212024

Highlighted filing

2020

Revenue$97,062
Expenses$29,742
Net Income$67,320
Jump To
Filing Snapshot
Filing Period
Jan 1, 2020 to Dec 31, 2020
Signed
Oct 14, 2021
Return Version
2020v4.0
Gross Receipts
$97,062
Mission and Program Overview

Mission

Mission Statement: The Salolampi Foundation is committed to sustaining the Finnish language and culture. We provide scholarships and program support to Salolampi Finnish Language Village, enhancing and expanding villagers' knowledge of and passion for Finnish language and culture.

Mission Statement: The Salolampi Foundation is committed to sustaining the Finnish Language & Culture through Scholarships & Programs Support at the Salolampi Finnish Language Village.

Balance Sheet Detail
LineBeginningEndChange
Assets
Investments in Publicly Traded Securities$1,278,559$1,437,210▲ $158,651
Cash and Non-Interest-Bearing Accounts$12,733$37,025▲ $24,292
Savings and Temporary Cash Investments$17,516$24,026▲ $6,510
Prepaid Expenses and Deferred Charges$2,964$5,538▲ $2,574
Total Assets$1,311,772$1,503,799▲ $192,027
Liabilities
Accounts Payable and Accrued Expenses-$138-
Total Liabilities$0$138▲ $138
Net Assets / Fund Balance
Net Assets With Donor Restrictions$757,910$759,177▲ $1,267
Net Assets Without Donor Restrictions$553,862$744,484▲ $190,622
Total Net Assets Fund Balance$1,311,772$1,503,661▲ $191,889
Total Liabilities and Net Assets / Fund Balance$1,311,772$1,503,799▲ $192,027

Endowment Activity

PeriodBeginningContrib.Gain/LossOther UsesEnd
2020$1,177,779$40,929→ $0$0$1,218,708
2019$1,130,852$46,927→ $0$0$1,177,779
2018$1,130,464$388→ $0$0$1,130,852
2017$0$0→ $0$0$0
2016$0$0→ $0$0$0
Compensation and Service Providers

Board Members and Trustees

NameTitle
John HansonPast President
Kaisa SyvaojaPresident
Mark KellaherPresident Elect
Eric MakiDirector
Heidi Marttila-LosureDirector
Jennifer PorterDirector
Katie-Rose ImbrianoDirector
Linda Warpula DavisDirector
Marlene BanttariDirector
Sara Ahlgren BogieDirector
Steve LeppalaDirector
Tiina WattsDirector
Ken DanielsDirector / Assistant Treasurer
Aino WheelerSecretary
Richard CastroSecretary
Paavo TaipaleTreasurer
Revenue and Support

Revenue Composition

Contributions and Grants
$52,221
Program Service Revenue
$0
Investment Income
$43,573
Other Revenue
$1,268
All Other Contributions
$52,221
Change in Net Assets
$67,320
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$23,792
Grants and Similar Amounts Paid$5,950
Total Fundraising Expense$3,820
Professional Fundraising Fees$0
Salaries, Compensation, and Employee Benefits$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Fees for Service Investment Mgmnt Fees-$9,829-$9,829
Grants to Domestic Individuals$5,950--$5,950
Office Expenses$694$1,214$3,618$5,526
Fees for Services Accounting-$3,846-$3,846
Insurance-$2,873-$2,873
Information Technology-$1,516-$1,516
Fees for Services Other--$202$202
Total Functional Expenses$6,644$19,278$3,820$29,742
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
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, Part VI, Section B, Line 11B

Form 990 is made available to the Board for review before filing.

Form 990, Part VI, Section C, Line 19

All documents available upon request.

Filing and Contact Details

Filer

Filer Name
Salolampi Foundation
EIN
41-1355241
Phone
6512105281
Address
P O Box 14480, Minneapolis, MN 55414-0480

Signing Officer

Name
Paavo Taipale
Title
Treasurer
Phone
6512105281
Signed
2021-10-14
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Mark Kellaher
Formed
1986
Legal Domicile
Mn
Voting Board Members
16
Independent Board Members
16
Employees
0
Volunteers
70

Preparer

Firm
BWK Rogers PC
Address
431 South 7th Street Suite 2424, Minneapolis, MN 55415
Preparer
Melissa J Baraibar
Phone
6123325446
Supplemental Narrative

Financial Statement Notes

Schedule D, Part V, Line 4

General Operating Purposes

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IRS990/MiscellaneousRevenueGrp/TotalRevenueColumnAmt00
IRS990/MiscellaneousRevenueGrp/UnrelatedBusinessRevenueAmt00
IRS990/MissionDesc0Mission Statement: The Salolampi Foundation is committed to sustaining the Finnish Language & Culture through Scholarships & Programs Support at the Salolampi Finnish Language Village.
IRS990/MoreThan5000KToIndividualsInd00
IRS990/MoreThan5000KToOrgInd00
IRS990/NetAssetsOrFundBalancesBOYAmt01311772
IRS990/NetAssetsOrFundBalancesEOYAmt01503661
IRS990/NetUnrelatedBusTxblIncmAmt00
IRS990/NetUnrlzdGainsLossesInvstAmt0124569
IRS990/NoDonorRestrictionNetAssetsGrp/BOYAmt0553862
IRS990/NoDonorRestrictionNetAssetsGrp/EOYAmt0744484
IRS990/NoncashContributionsAmt00
IRS990/NondeductibleContributionsInd00
IRS990/OfficeExpensesGrp/FundraisingAmt03618
IRS990/OfficeExpensesGrp/ManagementAndGeneralAmt01214
IRS990/OfficeExpensesGrp/ProgramServicesAmt0694
IRS990/OfficeExpensesGrp/TotalAmt05526
IRS990/OfficerMailingAddressInd00
IRS990/OperateHospitalInd00
IRS990/Organization501c3Ind0X
IRS990/OrganizationFollowsFASB117Ind0X
IRS990/OtherChangesInNetAssetsAmt00
IRS990/OtherRevenueMiscGrp/BusinessCd0451211
IRS990/OtherRevenueMiscGrp/Desc0Opi Books
IRS990/OtherRevenueMiscGrp/ExclusionAmt00
IRS990/OtherRevenueMiscGrp/RelatedOrExemptFuncIncomeAmt01268
IRS990/OtherRevenueMiscGrp/TotalRevenueColumnAmt01268
IRS990/OtherRevenueMiscGrp/UnrelatedBusinessRevenueAmt00
IRS990/OtherRevenueTotalAmt01268
IRS990/PartialLiquidationInd00
IRS990/PayPremiumsPrsnlBnftCntrctInd00
IRS990/PoliticalCampaignActyInd00
IRS990/PrepaidExpensesDefrdChargesGrp/BOYAmt02964
IRS990/PrepaidExpensesDefrdChargesGrp/EOYAmt05538
IRS990/PrincipalOfficerNm0Mark Kellaher
IRS990/PriorPeriodAdjustmentsAmt00
IRS990/ProfessionalFundraisingInd00
IRS990/ProgSrvcAccomActy2Grp/Desc0One Sanomat News was mailed to villagers, parents and donors. The Sanomat has information on scholarships, thank yous from villagers, and photos from the village programming.
IRS990/ProgSrvcAccomActy2Grp/ExpenseAmt0694
IRS990/ProgSrvcAccomActy2Grp/GrantAmt00
IRS990/ProgSrvcAccomActy2Grp/RevenueAmt01268
IRS990/ProhibitedTaxShelterTransInd00
IRS990/PYBenefitsPaidToMembersAmt00
IRS990/PYContributionsGrantsAmt071136
IRS990/PYExcessBenefitTransInd00
IRS990/PYGrantsAndSimilarPaidAmt093490
IRS990/PYInvestmentIncomeAmt038383
IRS990/PYOtherExpensesAmt031263
IRS990/PYOtherRevenueAmt0916
IRS990/PYProgramServiceRevenueAmt00
IRS990/PYRevenuesLessExpensesAmt0-14318
IRS990/PYSalariesCompEmpBnftPaidAmt00
IRS990/PYTotalExpensesAmt0124753
IRS990/PYTotalProfFndrsngExpnsAmt00
IRS990/PYTotalRevenueAmt0110435
IRS990/QuidProQuoContributionsInd00
IRS990/RcvFndsToPayPrsnlBnftCntrctInd00
IRS990/ReconcilationRevenueExpnssAmt067320
IRS990/RelatedEntityInd00
IRS990/RelatedOrganizationCtrlEntInd00
IRS990/RelatedOrganizationsAmt00
IRS990/RentalIncomeOrLossGrp/PersonalAmt00
IRS990/RentalIncomeOrLossGrp/RealAmt00
IRS990/ReportInvestmentsOtherSecInd00
IRS990/ReportLandBuildingEquipmentInd00
IRS990/ReportOtherAssetsInd00
IRS990/ReportOtherLiabilitiesInd00
IRS990/ReportProgramRelatedInvstInd00
IRS990/RevenueAmt00
IRS990/RoyaltiesRevenueGrp/ExclusionAmt00
IRS990/RoyaltiesRevenueGrp/RelatedOrExemptFuncIncomeAmt00
IRS990/RoyaltiesRevenueGrp/TotalRevenueColumnAmt00
IRS990/RoyaltiesRevenueGrp/UnrelatedBusinessRevenueAmt00
IRS990/SavingsAndTempCashInvstGrp/BOYAmt017516
IRS990/SavingsAndTempCashInvstGrp/EOYAmt024026
IRS990ScheduleA/AmountsRcvdDsqlfyPersonGrp/CurrentTaxYearAmt04845
IRS990ScheduleA/AmountsRcvdDsqlfyPersonGrp/CurrentTaxYearMinus1YearAmt05290
IRS990ScheduleA/AmountsRcvdDsqlfyPersonGrp/CurrentTaxYearMinus2YearsAmt05263
IRS990ScheduleA/AmountsRcvdDsqlfyPersonGrp/CurrentTaxYearMinus3YearsAmt04000
IRS990ScheduleA/AmountsRcvdDsqlfyPersonGrp/CurrentTaxYearMinus4YearsAmt03000
IRS990ScheduleA/AmountsRcvdDsqlfyPersonGrp/TotalAmt022398
IRS990ScheduleA/Form990ScheduleAPartVIGrp/ExplanationTxt0Opi Book sales
IRS990ScheduleA/Form990ScheduleAPartVIGrp/FormAndLineReferenceDesc0Schedule A, Part III, Line 12
IRS990ScheduleA/GiftsGrantsContrisRcvd509Grp/CurrentTaxYearAmt052221
IRS990ScheduleA/GiftsGrantsContrisRcvd509Grp/CurrentTaxYearMinus1YearAmt071136
IRS990ScheduleA/GiftsGrantsContrisRcvd509Grp/CurrentTaxYearMinus2YearsAmt062240
IRS990ScheduleA/GiftsGrantsContrisRcvd509Grp/CurrentTaxYearMinus3YearsAmt064117
IRS990ScheduleA/GiftsGrantsContrisRcvd509Grp/CurrentTaxYearMinus4YearsAmt089452
IRS990ScheduleA/GiftsGrantsContrisRcvd509Grp/TotalAmt0339166
IRS990ScheduleA/GovtFurnSrvcFcltsVl509Grp/CurrentTaxYearMinus1YearAmt00
IRS990ScheduleA/GovtFurnSrvcFcltsVl509Grp/CurrentTaxYearMinus2YearsAmt00
IRS990ScheduleA/GovtFurnSrvcFcltsVl509Grp/CurrentTaxYearMinus3YearsAmt00
IRS990ScheduleA/GovtFurnSrvcFcltsVl509Grp/CurrentTaxYearMinus4YearsAmt00
IRS990ScheduleA/GovtFurnSrvcFcltsVl509Grp/TotalAmt00
IRS990ScheduleA/GrossInvestmentIncome509Grp/CurrentTaxYearAmt043573
IRS990ScheduleA/GrossInvestmentIncome509Grp/CurrentTaxYearMinus1YearAmt038383
IRS990ScheduleA/GrossInvestmentIncome509Grp/CurrentTaxYearMinus2YearsAmt060
IRS990ScheduleA/GrossInvestmentIncome509Grp/CurrentTaxYearMinus3YearsAmt077
IRS990ScheduleA/GrossInvestmentIncome509Grp/CurrentTaxYearMinus4YearsAmt063
IRS990ScheduleA/GrossInvestmentIncome509Grp/TotalAmt082156
IRS990ScheduleA/GrossReceiptsAdmissionsGrp/CurrentTaxYearMinus1YearAmt00
IRS990ScheduleA/GrossReceiptsAdmissionsGrp/CurrentTaxYearMinus2YearsAmt00
IRS990ScheduleA/GrossReceiptsAdmissionsGrp/CurrentTaxYearMinus3YearsAmt00
IRS990ScheduleA/GrossReceiptsAdmissionsGrp/CurrentTaxYearMinus4YearsAmt00
IRS990ScheduleA/GrossReceiptsAdmissionsGrp/TotalAmt00
IRS990ScheduleA/GrossReceiptsNonUnrltBusGrp/CurrentTaxYearMinus1YearAmt00
IRS990ScheduleA/GrossReceiptsNonUnrltBusGrp/CurrentTaxYearMinus2YearsAmt00
IRS990ScheduleA/GrossReceiptsNonUnrltBusGrp/CurrentTaxYearMinus3YearsAmt00
IRS990ScheduleA/GrossReceiptsNonUnrltBusGrp/CurrentTaxYearMinus4YearsAmt00
IRS990ScheduleA/GrossReceiptsNonUnrltBusGrp/TotalAmt00
IRS990ScheduleA/InvestmentIncomeAndUBTIGrp/CurrentTaxYearAmt043573
IRS990ScheduleA/InvestmentIncomeAndUBTIGrp/CurrentTaxYearMinus1YearAmt038383
IRS990ScheduleA/InvestmentIncomeAndUBTIGrp/CurrentTaxYearMinus2YearsAmt060
IRS990ScheduleA/InvestmentIncomeAndUBTIGrp/CurrentTaxYearMinus3YearsAmt077
IRS990ScheduleA/InvestmentIncomeAndUBTIGrp/CurrentTaxYearMinus4YearsAmt063
IRS990ScheduleA/InvestmentIncomeAndUBTIGrp/TotalAmt082156
IRS990ScheduleA/InvestmentIncomeCYPct00.19399
IRS990ScheduleA/InvestmentIncomePYPct00.10192
IRS990ScheduleA/NetIncomeFromOtherUBIGrp/CurrentTaxYearMinus1YearAmt00
IRS990ScheduleA/NetIncomeFromOtherUBIGrp/CurrentTaxYearMinus2YearsAmt00
IRS990ScheduleA/NetIncomeFromOtherUBIGrp/CurrentTaxYearMinus3YearsAmt00
IRS990ScheduleA/NetIncomeFromOtherUBIGrp/CurrentTaxYearMinus4YearsAmt00
IRS990ScheduleA/NetIncomeFromOtherUBIGrp/TotalAmt00
IRS990ScheduleA/OtherIncome509Grp/CurrentTaxYearAmt01268
IRS990ScheduleA/OtherIncome509Grp/CurrentTaxYearMinus1YearAmt0916
IRS990ScheduleA/OtherIncome509Grp/CurrentTaxYearMinus2YearsAmt00
IRS990ScheduleA/OtherIncome509Grp/CurrentTaxYearMinus3YearsAmt00
IRS990ScheduleA/OtherIncome509Grp/CurrentTaxYearMinus4YearsAmt00
IRS990ScheduleA/OtherIncome509Grp/TotalAmt02184
IRS990ScheduleA/Post1975UBTIGrp/CurrentTaxYearMinus1YearAmt00
IRS990ScheduleA/Post1975UBTIGrp/CurrentTaxYearMinus2YearsAmt00
IRS990ScheduleA/Post1975UBTIGrp/CurrentTaxYearMinus3YearsAmt00
IRS990ScheduleA/Post1975UBTIGrp/CurrentTaxYearMinus4YearsAmt00
IRS990ScheduleA/Post1975UBTIGrp/TotalAmt00
IRS990ScheduleA/PubliclySupportedOrg509a2Ind0X
IRS990ScheduleA/PublicSupportCY509Pct00.74797
IRS990ScheduleA/PublicSupportPY509Pct00.89567
IRS990ScheduleA/PublicSupportTotal509Amt0316768
IRS990ScheduleA/SubstAndDsqlfyPrsnsTotGrp/CurrentTaxYearAmt04845
IRS990ScheduleA/SubstAndDsqlfyPrsnsTotGrp/CurrentTaxYearMinus1YearAmt05290

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.$1.87$0.00$1.87$0.09$0.06$0.03
2023XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$1.69$0.00$1.69$0.12$0.07$0.05
2022XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$1.51$0.00$1.51$0.10$0.05$0.05
2021XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$1.69$0.00$1.69$0.13$0.06$0.07
2020Detailed filing. Detailed filing data is available for this year.$1.50$0.00$1.50$0.10$0.03$0.07
2019XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$1.31$0.00$1.31$0.11$0.12$0.01
2018XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$1.17$0.00$1.17$0.06$0.11$0.05
2017XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$1.30$0.00$1.30$0.06$0.10$0.04
2016XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$1.20$0.00$1.20$0.09$0.09$0.00
2015XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$1.11$0.00$1.11$0.05$0.09$0.04
2014Detailed filing. Detailed filing data is available for this year.$1.19$0.00$1.19$0.07$0.06$0.01
2013Detailed filing. Detailed filing data is available for this year.$1.16$0.00$1.16$0.23$0.06$0.17
2012Facts available. Structured filing facts are available, but richer extracted sections are limited.$0.98$0.00$0.98$0.07
2011Summary only. Only limited summary data is available for this year.$0.76$0.00$0.76$0.37$0.05$0.32
2010Facts available. Structured filing facts are available, but richer extracted sections are limited.$0.47$0.00$0.47$0.14$0.06$0.08
Peer Organizations

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