Civic Intelligence

Salolampi Foundation

990 • Fiscal year 2024 • EIN 41-1355241

Jan 01, 2024 to Dec 31, 2024 • Filed on Mar 03, 1942

Organization ProfileWWW.SALOLAMPI.ORG
PO 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

23rd percentile

0.00x

Higher debt load relative to assets than 23% of similar nonprofits.

2024 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2024

Liabilities / Revenue

37th percentile

0.03x

Higher debt load relative to revenue than 37% of similar nonprofits.

2024 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2024

Net Margin

81st percentile

32%

Higher net margin than 81% of similar nonprofits.

2024 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2024

Top Officer Pay

40th percentile

$0

Higher top officer pay than 40% of similar nonprofits.

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

2024 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2024

Asset Growth

67th percentile

11%

Faster asset growth than 67% of similar nonprofits.

2024 filings • 501(c)3 • $1M-$5M nonprofits • Annualized from 2023 to 2024

Revenue Growth

11th percentile

-27%

Faster revenue growth than 11% of similar nonprofits.

2024 filings • 501(c)3 • $1M-$5M nonprofits • Annualized from 2023 to 2024

Balance Sheet
Liabilities / Assets23rd percentile

Assets

Up

$1,874,752

Up $187,122 (+11%) from 2023

Net Assets

Up

$1,872,154

Up $184,586 (+11%) from 2023

Liabilities

Up

$2,598

Up $2,536 (+4090%) from 2023

Revenue And Expenses
Liabilities / Revenue37th percentileNet Margin81st percentile

Revenue

Down

$86,697

Down $32,528 (-27%) from 2023

Expenses

Down

$59,376

Down $12,306 (-17%) from 2023

Net Income

Down

$27,321

Down $20,222 (-43%) from 2023

Historical Trend

Balance Sheet Trend

Asset Growth67th percentile

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

2024

Assets$1,874,752
Liabilities$2,598
Net Assets$1,872,154
Open 2024 Filing

Operations Trend

Revenue Growth11th percentile

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

2024

Revenue$86,697
Expenses$59,376
Net Income$27,321
Open 2024 Filing
Jump To
Filing Snapshot
Filing Period
Jan 1, 2024 to Dec 31, 2024
Signed
Mar 3, 1942
Return Version
2024v5.0
Gross Receipts
$86,697
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.

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.

Balance Sheet Detail
LineBeginningEndChange
Assets
Investments in Publicly Traded Securities$1,582,631$1,765,829▲ $183,198
Cash and Non-Interest-Bearing Accounts$58,093$60,292▲ $2,199
Savings and Temporary Cash Investments$43,813$46,103▲ $2,290
Prepaid Expenses and Deferred Charges$3,093$2,528▼ $565
Total Assets$1,687,630$1,874,752▲ $187,122
Liabilities
Accounts Payable and Accrued Expenses$62$2,598▲ $2,536
Total Liabilities$62$2,598▲ $2,536
Net Assets / Fund Balance
Net Assets With Donor Restrictions$1,620,061$1,812,010▲ $191,949
Net Assets Without Donor Restrictions$67,507$60,144▼ $7,363
Total Net Assets Fund Balance$1,687,568$1,872,154▲ $184,586
Total Liabilities and Net Assets / Fund Balance$1,687,630$1,874,752▲ $187,122

Endowment Activity

PeriodBeginningContrib.Gain/LossOther UsesEnd
2024$1,620,061$191,949--$1,812,010
2023$1,442,934$177,127--$1,620,061
2022$1,263,276-▲ $179,658-$1,442,934
2021$1,218,708$44,568--$1,263,276
2020$1,177,779$40,929--$1,218,708
Compensation and Service Providers
Top Officer Pay40th percentile

Board Members and Trustees

NameTitle
Aino WhelerPresident
Aili LundDirector
Ceridwen KoskiDirector
Eli Lahti SchlotecDirector
Eric MakiDirector
Jeffrey Bernard MoonDirector
Kaisa TaipaleDirector
Laura Bernard MoonDirector
Linda Warpula DavisDirector
Riku CastroDirector
Steve Tapani LeppalaDirector
Susanna OjoDirector
Kristi LoeckDirecotor
Katie-rose ImbrianoSecretary
Paavo TaipaleTreasurer
Revenue and Support

Revenue Composition

Contributions and Grants
$46,714
Program Service Revenue
$0
Investment Income
$39,983
Other Revenue
$0
All Other Contributions
$46,714
Change in Net Assets
$27,321
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Grants and Similar Amounts Paid$33,193
Other Expenses$26,183
Total Fundraising Expense$5,727
Professional Fundraising Fees$0
Salaries, Compensation, and Employee Benefits$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Grants to Domestic Individuals$33,193--$33,193
Fees for Service Investment Mgmnt Fees-$13,498-$13,498
Office Expenses-$742$5,514$6,256
Insurance-$2,787-$2,787
Information Technology-$1,884-$1,884
Fees for Services Accounting-$1,095-$1,095
Fees for Services Legal-$450-$450
Advertising--$213$213
Total Functional Expenses$33,193$20,456$5,727$59,376
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
No
Backup withholding compliance
Yes
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
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

“A copy of the form 990 is available for review by the treasurer”

Form 990, Page 6, Part VI, Line 19

“No documents available to the public”

Filing and Contact Details

Filer

Filer Name
Salolampi Foundation
EIN
41-1355241
Phone
6512105281
Address
PO BOX 14480, MINNEAPOLIS, MN 55414-0480

Signing Officer

Name
Paavo Taipale
Title
Treasurer
Phone
6512105281
Signed
1942-03-03

Organization Details

Principal Officer
Paavo Taipale
Formed
1979
Legal Domicile
Mn
Voting Board Members
15
Independent Board Members
15
Employees
0
Volunteers
32

Preparer

Firm
Cummings Keegan & Co Pllp
Address
600 HIGHWAY 169 S STE 1400, SAINT LOUIS PARK, MN 55426-1218
Preparer
Jennifer Gostovic
Phone
9523452500
Supplemental Narrative

Additional Explanations

FORM 990 - ORGANIZATION'S 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.”

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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/GrantTypeTxt0TUITION ASSISTANCE
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IRS990ScheduleI/GrantsOtherAsstToIndivInUSGrp/ValuationMethodUsedDesc0CASH
IRS990ScheduleI/SupplementalInformationDetail/ExplanationTxt0SCHEDULE I, PART IV, STATEMENT 1 THE FOUNDATION PROVIDES GRANTS/AWARDS DIRECTLY TO CONCORDIA LANGUAGE VILLAGE FOR QUALIFYING APPLICANTS ATTENDING SALOLAMPI FINNISH LANGUAGE VILLAGE
IRS990ScheduleI/SupplementalInformationDetail/FormAndLineReferenceDesc0SCHEDULE I, PAGE 4, PART IV
IRS990/ScheduleJRequiredInd0false
IRS990/ScheduleORequiredInd0false
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0MISSION 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.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1A COPY OF THE FORM 990 IS AVAILABLE FOR REVIEW BY THE TREASURER
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2NO DOCUMENTS AVAILABLE TO THE PUBLIC
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 19
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IRS990/UponRequestInd0X
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IRS990/USAddress/CityNm0MINNEAPOLIS
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IRS990/WebsiteAddressTxt0WWW.SALOLAMPI.ORG
IRS990/WhistleblowerPolicyInd0true
ReturnHeader/BuildTS02025-03-06 01:10:19Z
ReturnHeader/BusinessOfficerGrp/PersonNm0PAAVO TAIPALE
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0TREASURER
ReturnHeader/BusinessOfficerGrp/PhoneNum06512105281
ReturnHeader/BusinessOfficerGrp/SignatureDt01942-03-03
ReturnHeader/Filer/BusinessName/BusinessNameLine1Txt0SALOLAMPI FOUNDATION
ReturnHeader/Filer/BusinessNameControlTxt0SALO
ReturnHeader/Filer/EIN0411355241
ReturnHeader/Filer/PhoneNum06512105281
ReturnHeader/Filer/USAddress/AddressLine1Txt0PO BOX 14480
ReturnHeader/Filer/USAddress/CityNm0MINNEAPOLIS
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ReturnHeader/PreparerFirmGrp/PreparerFirmEIN0411227298
ReturnHeader/PreparerFirmGrp/PreparerFirmName/BusinessNameLine1Txt0CUMMINGS KEEGAN & CO PLLP
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/AddressLine1Txt0600 HIGHWAY 169 S STE 1400
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/CityNm0SAINT LOUIS PARK
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/StateAbbreviationCd0MN
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/ZIPCd0554261218
ReturnHeader/PreparerPersonGrp/PhoneNum09523452500
ReturnHeader/PreparerPersonGrp/PreparationDt02025-03-04
ReturnHeader/PreparerPersonGrp/PreparerPersonNm0JENNIFER GOSTOVIC
ReturnHeader/ReturnTs02025-03-14T12:37:07-04:00
ReturnHeader/ReturnTypeCd0990
ReturnHeader/TaxPeriodBeginDt02024-01-01
ReturnHeader/TaxPeriodEndDt02024-12-31
ReturnHeader/TaxYr02024

Document Assets

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Filings

Displayed year

2024 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$1,874,752
Liabilities
$2,598
Net assets
$1,872,154
Revenue
$86,697
Expenses
$59,376
Net income
$27,321
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Detailed filing. Detailed filing data is available for this year.$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
2020Import issue. A filing source exists for this year, but detailed import did not complete cleanly.$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