Civic Intelligence

Luverne Area Community Foundation

990 • Fiscal year 2017 • EIN 41-1512905

Jan 01, 2017 to Dec 31, 2017 • Filed on Nov 12, 2018

Organization ProfileLUVACF.ORG
PO Box 623Luverne, MN 56156-0623

(507) 220-2424

Siviq Scores

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

Liabilities / Assets

46th percentile

0.07x

Higher debt load relative to assets than 46% of similar nonprofits.

2017 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2017

Liabilities / Revenue

76th percentile

0.44x

Higher debt load relative to revenue than 76% of similar nonprofits.

2017 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2017

Net Margin

59th percentile

6.6%

Higher net margin than 59% of similar nonprofits.

2017 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2017

Top Officer Pay

35th percentile

$0

Higher top officer pay than 35% of similar nonprofits.

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

2017 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2017

Asset Growth

67th percentile

9.8%

Faster asset growth than 67% of similar nonprofits.

2017 filings • 501(c)3 • $1M-$5M nonprofits • Annualized from 2016 to 2017

Revenue Growth

8th percentile

-31%

Faster revenue growth than 8% of similar nonprofits.

2017 filings • 501(c)3 • $1M-$5M nonprofits • Annualized from 2016 to 2017

Balance Sheet
Liabilities / Assets46th percentile

Assets

Up

$4,173,334

Up $372,156 (+9.8%) from 2016

Net Assets

Up

$3,871,129

Up $118,471 (+3.2%) from 2016

Liabilities

Up

$302,205

Up $253,685 (+523%) from 2016

Revenue And Expenses
Liabilities / Revenue76th percentileNet Margin59th percentile

Revenue

Down

$693,018

Down $309,326 (-31%) from 2016

Expenses

Down

$647,220

Down $19,373 (-2.9%) from 2016

Net Income

Down

$45,798

Down $289,953 (-86%) from 2016

Historical Trend

Balance Sheet Trend

Asset Growth67th percentile

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

$8.0M$6.0M$4.0M$2.0M$0Assets 2010: $1,701,504Liabilities 2010: $1,005Net Assets 2010: $1,700,4992010Assets 2011: $1,720,040Liabilities 2011: $1,106Net Assets 2011: $1,718,9342011Assets 2012: $2,363,330Liabilities 2012: $316,681Net Assets 2012: $2,046,6492012Assets 2013: $2,717,695Liabilities 2013: $190,630Net Assets 2013: $2,527,0652013Assets 2014: $3,104,840Liabilities 2014: $132,238Net Assets 2014: $2,972,6022014Assets 2015: $3,306,857Liabilities 2015: $45,367Net Assets 2015: $3,261,4902015Assets 2016: $3,801,178Liabilities 2016: $48,520Net Assets 2016: $3,752,6582016Assets 2017: $4,173,334Liabilities 2017: $302,205Net Assets 2017: $3,871,1292017Assets 2018: $4,039,720Liabilities 2018: $283,431Net Assets 2018: $3,756,2892018Assets 2019: $4,953,140Liabilities 2019: $325,473Net Assets 2019: $4,627,6672019Assets 2020: $5,705,967Liabilities 2020: $344,736Net Assets 2020: $5,361,2312020Assets 2021: $6,630,405Liabilities 2021: $402,145Net Assets 2021: $6,228,2602021Assets 2022: $5,653,711Liabilities 2022: $371,194Net Assets 2022: $5,282,5172022Assets 2024: $7,951,958Liabilities 2024: $469,580Net Assets 2024: $7,482,3782024

Highlighted filing

2017

Assets$4,173,334
Liabilities$302,205
Net Assets$3,871,129
Open 2017 Filing

Operations Trend

Revenue Growth8th percentile

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

$3.0M$2.0M$1.0M$0-$1.0MExpenses 2010: $366,3282010Revenue 2011: $361,296Expenses 2011: $300,018Net Income 2011: $61,2782011Revenue 2012: $395,008Expenses 2012: $285,012Net Income 2012: $109,9962012Revenue 2013: $563,667Expenses 2013: $423,736Net Income 2013: $139,9312013Revenue 2014: $749,522Expenses 2014: $430,571Net Income 2014: $318,9512014Revenue 2015: $860,223Expenses 2015: $545,766Net Income 2015: $314,4572015Revenue 2016: $1,002,344Expenses 2016: $666,593Net Income 2016: $335,7512016Revenue 2017: $693,018Expenses 2017: $647,220Net Income 2017: $45,7982017Revenue 2018: $1,128,135Expenses 2018: $735,365Net Income 2018: $392,7702018Revenue 2019: $2,171,758Expenses 2019: $1,151,373Net Income 2019: $1,020,3852019Revenue 2020: $1,559,044Expenses 2020: $1,042,069Net Income 2020: $516,9752020Revenue 2021: $2,811,176Expenses 2021: $2,438,513Net Income 2021: $372,6632021Revenue 2022: $2,158,225Expenses 2022: $2,325,054Net Income 2022: -$166,8292022Revenue 2024: $2,861,432Expenses 2024: $2,310,796Net Income 2024: $550,6362024

Highlighted filing

2017

Revenue$693,018
Expenses$647,220
Net Income$45,798
Open 2017 Filing
Jump To
Filing Snapshot
Filing Period
Jan 1, 2017 to Dec 31, 2017
Signed
Nov 12, 2018
Return Version
2017v2.3
Gross Receipts
$1,090,524
Mission and Program Overview

Mission

Luverne area community foundation is a publicly supported community foundation that attracts, manages, and distributes charitable contributions and grants to its primary service area, rock county, minnesota, which has a population of approximately 10,000.

Balance Sheet Detail
LineBeginningEndChange
Assets
Investments in Publicly Traded Securities$3,090,717$3,480,674▲ $389,957
Pledges and Grants Receivable$642,023$547,852▼ $94,171
Savings and Temporary Cash Investments$62,646$139,864▲ $77,218
Land, Buildings, and Equipment, Net$5,792$4,599▼ $1,193
Prepaid Expenses and Deferred Charges-$345-
Total Assets$3,801,178$4,173,334▲ $372,156
Liabilities
Other Liabilities-$247,264-
Grants Payable$38,500$44,885▲ $6,385
Accounts Payable and Accrued Expenses$10,020$10,056▲ $36
Total Liabilities$48,520$302,205▲ $253,685
Net Assets / Fund Balance
Unrestricted Net Assets$3,752,658$3,871,129▲ $118,471
Total Net Assets Fund Balance$3,752,658$3,871,129▲ $118,471
Total Liabilities and Net Assets / Fund Balance$3,801,178$4,173,334▲ $372,156

Asset Categories

AssetBook ValueDepreciationBasis
Equipment$4,599$3,029$7,628

Endowment Activity

PeriodBeginningContrib.Gain/LossOther UsesEnd
2017----$1,179,346
2015$190,969---$190,969
2014$198,354---$190,969
2013$210,054---$198,354
Compensation and Service Providers
Top Officer Pay35th percentile

Board Members and Trustees

NameTitle
Nadine SchoepPresident
Beth SchearDirector
Heidi SehrDirector
Isaac DeboerDirector
Jeff HaubrichDirector
Keith ElbersDirector
Mary TilstraDirector
Nancy SandagerDirector
Ryan JohnsonDirector
Mike CoxPast Preside
Sharla ReischSecty/treas.
Mike EngesserVice Preside
Revenue and Support

Revenue Composition

Contributions and Grants
$512,124
Program Service Revenue
$0
Investment Income
$128,561
Other Revenue
$52,333
All Other Contributions
$447,124
Change in Net Assets
$45,798

Audited Revenue Reconciliation

Revenue per Audited Statements
$679,782
Revenue Not Reported on Financial Statements
$13,236
Revenue Not Reported on Form 990
$302,496
Total Revenue per Audited Statements
$982,278
Total Revenue per Form 990
$693,018
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Grants and Similar Amounts Paid$491,628
Other Expenses$120,410
Total Fundraising Expense$47,508
Salaries, Compensation, and Employee Benefits$35,182
Professional Fundraising Fees$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Grants to Domestic Orgs$491,628--$491,628
Fees for Services Other$38,981$10,236-$49,217
Other Salaries and Wages-$10,957$21,668$32,625
Advertising--$15,922$15,922
Occupancy-$6,842$3,421$10,263
Office Expenses-$8,111-$8,111
Interest$6,995--$6,995
Fees for Services Accounting$6,000--$6,000
Payroll Taxes-$859$1,698$2,557
All Other Expenses$1,000$381$1,096$2,477
Depreciation Depletion-$1,544-$1,544
Other Expenses-$1,750$1,379$1,379
Insurance-$1,192-$1,192
Total Functional Expenses$544,604$55,108$47,508$647,220

Audited Expense Reconciliation

Line ItemAmount
Total Expenses per Form 990$647,220
Total Expenses per Audited Statements$637,502
Expenses per Audited Statements$633,984
Expenses Not Reported on Financial Statements$13,236
Expenses Not Reported on Form 990$3,518
International Activity

Grant and Assistance Recipients

RecipientLocationCategoryPurposeAmount
Luverne Community HospiceLuverne, MN3Hospice$137,046
Rock County Historical SocietyLuverne, MN3History Center$93,000
Sanford HospitalLuverne, MN3Hospital$83,110
Child Guide Program-luverne PublicLuverne, MNGovMentor Assist. Progr$30,183
Luverne Backpack ProgramLuverne, MN3Child Food Program$24,000
Rock County FoodshelfLuverne, MN3Local Foodshelp$20,849
Luverne School FoundationLuverne, MNGovSupport Isd 2184 Nee$9,720
Big Buddies-county of RockLuverne, MNGovChild Mentor Program$8,000
Rock County AgLuverne, MN3Support Rock Co Fair$8,000
Fundraising, Events, and Gaming
Fundraising activities
No
Gaming activities
No
Professional fundraiser used
No

Fundraising and Gaming Totals

Line ItemAmount
Fundraising Gross Income$7,366
Fundraising Direct Expenses$3,518
Professional Fundraising Fees$0
Political and Lobbying Activity
Political campaign activity
No
Lobbying activity
No
Subject to proxy tax
No
Debt and Bond Financing

Other Reported Liabilities

LiabilityAmount
Funds Held for Others$247,264
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
Yes
Audit committee
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
Yes
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

“The board reviews the form 990 at its next meeting after preparation.”

Form 990, Page 6, Part VI, Line 12C

“Reviewed at board meetings.”

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

“All performance and compensation to be paid to lacf's executive director or any other employees are reviewed annually by the executive committee which consists only of independent board members and then a recommendation is made to the entire board for approval.”

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

“All performance and compensation to be paid to lacf's executive director or any other employees are reviewed annually by the executive committee which consists only of independent board members and then a recommendation is made to the entire board for approval.”

Form 990, Page 6, Part VI, Line 19

“Lacf's organization documents and financial statements are made available to the public upon request.”

Filing and Contact Details

Filer

Filer Name
Luverne Area Community Foundation
EIN
41-1512905
Phone
5072202424
Address
PO BOX 623, LUVERNE, MN 56156-0623

Signing Officer

Name
Nadine Schoep
Title
President
Phone
5072832321
Signed
2018-11-12
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Nadine Schoep
Formed
1992
Legal Domicile
Mn
Voting Board Members
12
Independent Board Members
12
Employees
3

Preparer

Firm
Meulebroeck Taubert & Co Pllp
Address
216 EAST MAIN ST, PIPESTONE, MN 56164
Preparer
Matt Taubert
Phone
5078254288
Supplemental Narrative

Additional Explanations

FORM 990 - ORGANIZATION'S MISSION

“Luverne area community foundation is a publicly supported community foundation that attracts, manages, and distributes charitable contributions and grants to its primary service area, rock county, minnesota, which has a population of approximately 10,000.”

Form 990, Part XI, Line 9

“Fund raising expense part viii ine 8b 3,518 fundraising expense part viii line 8b -3,518 to reclassify funds held for investment for ohters correctly as a liability rather than an increase or decrease to equity. This represents the 1/1/2017 recomupted funds held for other balance.”

Financial Statement Notes

Schedule D, Page 4, Part XI, Line 2D

“Fund raising expense part viii ine 8b 3,518”

Schedule D, Page 4, Part XII, Line 2D

“Fundraising expense part viii line 8b 3,518”

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IRS990/PayPremiumsPrsnlBnftCntrctInd0false
IRS990/PayrollTaxesGrp/FundraisingAmt01698
IRS990/PayrollTaxesGrp/ManagementAndGeneralAmt0859
IRS990/PayrollTaxesGrp/TotalAmt02557
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IRS990ScheduleD/CYMinus4YrEndwmtFundGrp/BeginningYearBalanceAmt0210054
IRS990ScheduleD/CYMinus4YrEndwmtFundGrp/EndYearBalanceAmt0198354
IRS990ScheduleD/CYMinus4YrEndwmtFundGrp/GrantsOrScholarshipsAmt011700
IRS990ScheduleD/DisclosedForCharitablePrpsInd0false
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IRS990ScheduleD/DonorAdvisedFundsContriAmt0231925
IRS990ScheduleD/DonorAdvisedFundsGrantsAmt0132464
IRS990ScheduleD/DonorAdvisedFundsHeldCnt05
IRS990ScheduleD/DonorAdvisedFundsVlEOYAmt081563
IRS990ScheduleD/EndowmentsHeldRelatedOrgInd0false
IRS990ScheduleD/EndowmentsHeldUnrelatedOrgInd0false
IRS990ScheduleD/EquipmentGrp/BookValueAmt04599
IRS990ScheduleD/EquipmentGrp/DepreciationAmt03029
IRS990ScheduleD/EquipmentGrp/OtherCostOrOtherBasisAmt07628
IRS990ScheduleD/ExpensesNotReportedAmt03518
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IRS990ScheduleD/OtherExpensesIncludedAmt03518
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt0247264
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc0FUNDS HELD FOR OTHERS
IRS990ScheduleD/OtherRevenueAmt03518
IRS990ScheduleD/RevenueNotReportedAmt0302496
IRS990ScheduleD/RevenueNotReportedFinclStmtAmt013236
IRS990ScheduleD/RevenueSubtotalAmt0679782
IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt0FUND RAISING EXPENSE PART VIII INE 8B 3,518
IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt1FUNDRAISING EXPENSE PART VIII LINE 8B 3,518
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc0SCHEDULE D, PAGE 4, PART XI, LINE 2D
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc1SCHEDULE D, PAGE 4, PART XII, LINE 2D
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IRS990ScheduleI/RecipientTable/CashGrantAmt58000
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IRS990ScheduleI/RecipientTable/CashGrantAmt793000
IRS990ScheduleI/RecipientTable/CashGrantAmt883110
IRS990ScheduleI/RecipientTable/IRCSectionDesc0GOV
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IRS990ScheduleI/RecipientTable/IRCSectionDesc4GOV
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IRS990ScheduleI/RecipientTable/IRCSectionDesc63
IRS990ScheduleI/RecipientTable/IRCSectionDesc73
IRS990ScheduleI/RecipientTable/IRCSectionDesc83
IRS990ScheduleI/RecipientTable/PurposeOfGrantTxt0CHILD MENTOR PROGRAM
IRS990ScheduleI/RecipientTable/PurposeOfGrantTxt1MENTOR ASSIST. PROGR
IRS990ScheduleI/RecipientTable/PurposeOfGrantTxt2CHILD FOOD PROGRAM
IRS990ScheduleI/RecipientTable/PurposeOfGrantTxt3HOSPICE
IRS990ScheduleI/RecipientTable/PurposeOfGrantTxt4SUPPORT ISD 2184 NEE
IRS990ScheduleI/RecipientTable/PurposeOfGrantTxt5SUPPORT ROCK CO FAIR
IRS990ScheduleI/RecipientTable/PurposeOfGrantTxt6LOCAL FOODSHELP
IRS990ScheduleI/RecipientTable/PurposeOfGrantTxt7HISTORY CENTER
IRS990ScheduleI/RecipientTable/PurposeOfGrantTxt8HOSPITAL
IRS990ScheduleI/RecipientTable/RecipientBusinessName/BusinessNameLine1Txt0BIG BUDDIES-COUNTY OF ROCK
IRS990ScheduleI/RecipientTable/RecipientBusinessName/BusinessNameLine1Txt1CHILD GUIDE PROGRAM-LUVERNE PUBLIC
IRS990ScheduleI/RecipientTable/RecipientBusinessName/BusinessNameLine1Txt2LUVERNE BACKPACK PROGRAM
IRS990ScheduleI/RecipientTable/RecipientBusinessName/BusinessNameLine1Txt3LUVERNE COMMUNITY HOSPICE
IRS990ScheduleI/RecipientTable/RecipientBusinessName/BusinessNameLine1Txt4LUVERNE SCHOOL FOUNDATION
IRS990ScheduleI/RecipientTable/RecipientBusinessName/BusinessNameLine1Txt5ROCK COUNTY AG
IRS990ScheduleI/RecipientTable/RecipientBusinessName/BusinessNameLine1Txt6ROCK COUNTY FOODSHELF
IRS990ScheduleI/RecipientTable/RecipientBusinessName/BusinessNameLine1Txt7ROCK COUNTY HISTORICAL SOCIETY

Document Assets

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Filings

Displayed year

2017 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$4,173,334
Liabilities
$302,205
Net assets
$3,871,129
Revenue
$693,018
Expenses
$647,220
Net income
$45,798
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Facts available. Structured filing facts are available, but richer extracted sections are limited.$7.95$0.47$7.48$2.86$2.31$0.55
2022Detailed filing. Detailed filing data is available for this year.$5.65$0.37$5.28$2.16$2.33$0.17
2021Detailed filing. Detailed filing data is available for this year.$6.63$0.40$6.23$2.81$2.44$0.37
2020Import issue. A filing source exists for this year, but detailed import did not complete cleanly.$5.71$0.34$5.36$1.56$1.04$0.52
2019Detailed filing. Detailed filing data is available for this year.$4.95$0.33$4.63$2.17$1.15$1.02
2018Detailed filing. Detailed filing data is available for this year.$4.04$0.28$3.76$1.13$0.74$0.39
2017Detailed filing. Detailed filing data is available for this year.$4.17$0.30$3.87$0.69$0.65$0.05
2016Detailed filing. Detailed filing data is available for this year.$3.80$0.05$3.75$1.00$0.67$0.34
2015Detailed filing. Detailed filing data is available for this year.$3.31$0.05$3.26$0.86$0.55$0.31
2014Detailed filing. Detailed filing data is available for this year.$3.10$0.13$2.97$0.75$0.43$0.32
2013Detailed filing. Detailed filing data is available for this year.$2.72$0.19$2.53$0.56$0.42$0.14
2012Summary only. Only limited summary data is available for this year.$2.36$0.32$2.05$0.40$0.29$0.11
2011Summary only. Only limited summary data is available for this year.$1.72$0.00$1.72$0.36$0.30$0.06
2010Facts available. Structured filing facts are available, but richer extracted sections are limited.$1.70$0.00$1.70$0.37