Liabilities / Assets
29th percentile
Higher debt load relative to assets than 29% of similar nonprofits.
Minnesota Colon and Rectal Foundation
990 • Fiscal year 2018 • EIN 41-1697334
Siviq Scores
Precomputed percentiles for this filing year versus similar nonprofits in the same peer cohort.
0.01x
Liabilities / Revenue
76th percentile
Higher debt load relative to revenue than 76% of similar nonprofits.
Net Margin
23rd percentile
Higher net margin than 23% of similar nonprofits.
Top Officer Pay
35th percentile
Higher top officer pay than 35% of similar nonprofits.
Top officer pay equals 0.0% of source-year revenue.
Asset Growth
49th percentile
Faster asset growth than 49% of similar nonprofits.
Revenue Growth
3rd percentile
Faster revenue growth than 3% of similar nonprofits.
Balance Sheet
Assets
Up$2,764,961
Up $18,992 (+0.7%) from 2017
Net Assets
Up$2,726,127
Up $53,283 (+2.0%) from 2017
Liabilities
Down$38,834
Down $34,291 (-47%) from 2017
Revenue And Expenses
Revenue
Down$93,861
Down $185,565 (-66%) from 2017
Expenses
Down$101,551
Down $259,060 (-72%) from 2017
Net Income
Up-$7,690
Up $73,495 (+91%) from 2017
Historical Trend
Jump To
Filing Snapshot
- Filing Period
- Jul 1, 2017 to Jun 30, 2018
- Signed
- Jan 26, 2019
- Return Version
- 2017v2.3
- Gross Receipts
- $534,665
Mission and Program Overview
Mission
Minnesota colon and rectal foundation is dedicated to improving colorectal health through education, outreach, research and specialized physician training
Improve colorectal health with education, outreach, research & specialized physician training
Balance Sheet Detail
| Line | Beginning | End | Change |
|---|---|---|---|
| Assets | |||
| Investments in Publicly Traded Securities | $2,584,521 | $2,697,573 | ▲ $113,052 |
| Cash and Non-Interest-Bearing Accounts | $110,418 | $54,559 | ▼ $55,859 |
| Accounts Receivable | $43,965 | $5,928 | ▼ $38,037 |
| Total Assets | $2,745,969 | $2,764,961 | ▲ $18,992 |
| Other Assets Total | $7,065 | $6,901 | ▼ $164 |
| Liabilities | |||
| Deferred Revenue | $55,931 | $32,074 | ▼ $23,857 |
| Accounts Payable and Accrued Expenses | $17,194 | $6,760 | ▼ $10,434 |
| Total Liabilities | $73,125 | $38,834 | ▼ $34,291 |
| Net Assets / Fund Balance | |||
| Unrestricted Net Assets | $1,953,268 | $1,990,591 | ▲ $37,323 |
| Permanently Rstr Net Assets | $375,144 | $375,144 | → $0 |
| Temporarily Rstr Net Assets | $344,432 | $360,392 | ▲ $15,960 |
| Total Net Assets Fund Balance | $2,672,844 | $2,726,127 | ▲ $53,283 |
| Total Liabilities and Net Assets / Fund Balance | $2,745,969 | $2,764,961 | ▲ $18,992 |
Asset Categories
| Asset | Book Value | Depreciation | Basis |
|---|---|---|---|
| Equipment | - | $15,953 | $15,953 |
Endowment Activity
| Period | Beginning | Contrib. | Gain/Loss | Other Uses | End |
|---|---|---|---|---|---|
| 2017 | $699,530 | - | ▲ $20,783 | $2,575 | $717,738 |
| 2016 | $758,871 | $-100,000 | ▲ $42,192 | $1,533 | $699,530 |
| 2015 | $733,471 | - | ▲ $27,985 | $2,585 | $758,871 |
| 2014 | $706,939 | - | ▲ $29,117 | $2,585 | $733,471 |
| 2013 | $631,724 | - | ▲ $77,047 | $1,832 | $706,939 |
Compensation and Service Providers
Board Members and Trustees
| Name | Title |
|---|---|
| Michael Spencer | President |
| David Willis | Board Member |
| Kerry Mraz | Board Member |
| Stanley Goldberg | Board Member |
| Mark Sun | Secretary/tr |
Revenue and Support
Revenue Composition
- Contributions and Grants
- $6,016
- Program Service Revenue
- $5,240
- Investment Income
- $82,144
- Other Revenue
- $461
- All Other Contributions
- $3,536
- Change in Net Assets
- $-7,690
Expenses and Functional Allocation
Major Expense Lines
| Line Item | Amount |
|---|---|
| Other Expenses | $51,551 |
| Grants and Similar Amounts Paid | $50,000 |
| Total Fundraising Expense | $461 |
| Professional Fundraising Fees | $0 |
| Salaries, Compensation, and Employee Benefits | $0 |
Functional Expense Allocation
| Line Item | Program | Management | Fundraising | Total |
|---|---|---|---|---|
| Grants to Domestic Orgs | $50,000 | - | - | $50,000 |
| Fees for Service Investment Mgmnt Fees | - | $27,286 | - | $27,286 |
| Fees for Services Accounting | - | $11,950 | - | $11,950 |
| Conferences and Meetings | $1,000 | $3,853 | - | $4,853 |
| Travel | $2,641 | - | - | $2,641 |
| Fees for Services Other | - | $702 | - | $702 |
| Advertising | $360 | $120 | - | $480 |
| Office Expenses | - | $25 | - | $25 |
| Other Expenses | $8 | $55 | $461 | $8 |
| Total Functional Expenses | $57,099 | $43,991 | $461 | $101,551 |
International Activity
Grant and Assistance Recipients
| Recipient | Location | Category | Purpose | Amount |
|---|---|---|---|---|
| University of Minnesota Foundation | Minneapolis, MN | 501c3 | Education & Research | $50,000 |
Fundraising, Events, and Gaming
- Fundraising activities
- Yes
- Gaming activities
- No
- Professional fundraiser used
- No
Fundraising and Gaming Totals
| Line Item | Amount |
|---|---|
| Fundraising Gross Income | $14,165 |
| Fundraising Direct Expenses | $13,704 |
| Professional Fundraising Fees | $0 |
Fundraising Events
| Event | Gross Receipts | Gross Revenue | Direct Expenses | Net Income |
|---|---|---|---|---|
| Mn Alumni Dinne | $16,645 | $14,165 | $553 | $13,612 |
| Total Events | $16,645 | $14,165 | $13,704 | $461 |
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
- Yes
- 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
- No
- Other officer compensation reviewed
- No
- Conflict-of-interest policy
- Yes
- Audited financial statements prepared
- No
- Key decisions subject to board approval
- Yes
- Management duties delegated
- No
Governance Explanations
Form 990, Page 6, Part VI, Line 1A
“The executive committee has the authority of the board of directors in the management of foundation business during the internval between meetings of the board of directors. The executive committee consists of at least two persons selected by the board of directors from the board of directors, plus the person primarily responsible for maintaining the financial books and records of the foundation. At all times, the executive committee is subject to the control and direction of the foundation's board of directors.”
Form 990, Page 6, Part VI, Line 2
“MICHAEL SPENCER MARK SUN”
Form 990, Page 6, Part VI, Line 7A
“Two members of the board of directors are appointed by colon and rectal surgery associates, ltd the remaining director(s) are elected by the board of directors from the alumni ofthe minnesota colorectal residency training program and from the community at-large”
Form 990, Page 6, Part VI, Line 7B
“Two members of the board of directors are appointed by colon and rectal surgery associates, ltd”
Form 990, Page 6, Part VI, Line 11B
“The form 990 will be e-mailed to the board members prior to filing for review and comments jim mustonen will conduct the primary review and will work with the other members of the executive committee if needed”
Form 990, Page 6, Part VI, Line 12C
“All members shall disclose prior to the start of a new fiscal year using the conflict of interest assurance of compliance (ciac) form, any interests required by the foundation's conflict of interest policy additionally, any events during the fiscal year that give rise to the requirement to disclose if any conflict of interest might exist shall also be disclosed utilizing the ciac the foundation's president will establish a conflict of interest review committee (circ) comprised of two board members and the cfo the circ will review the ciac forms and evaluate each situation on its own merits, and if a potential conflict is noted, will include a written recommendation for its management the organization's general legal counsel will be contacted as the circ deems necessary any member having an actual or potential conflict of interest on any matter considered by the board shall not vote on such matter the minutes of the meeting shall reflect that such director disclosed the interest and abstained from voting”
Form 990, Page 6, Part VI, Line 19
“The foundation makes its governing documents, conflict of interest policy, and financial statements available upon request”
Filing and Contact Details
Filer
- Filer Name
- Minnesota Colon and Rectal
- EIN
- 41-1697334
- Phone
- 6513121543
- Address
- 3433 BROADWAY STREET NE 115, MINNEAPOLIS, MN 55413
Signing Officer
- Name
- Michael Spencer
- Title
- President
- Phone
- 6513121543
- Signed
- 2019-01-26
- Discuss with paid preparer
- Yes
Organization Details
- Principal Officer
- Michael Spencer
- Formed
- 1991
- Legal Domicile
- Mn
- Voting Board Members
- 5
- Independent Board Members
- 5
- Employees
- 0
- Volunteers
- 5
Preparer
- Firm
- Hansen House Company
- Address
- 130 W SUPERIOR ST STE 640, DULUTH, MN 55802-2056
- Preparer
- Greg a Hansen
- Phone
- 2187221161
Supplemental Narrative
Additional Explanations
Form 990, Page 2, Part III, Line 3
“The foundation has sponsored a course and a speaker at the annual colon and rectal surgery conference held in minneapolis. During the 2017-18 year, the foundation chose not to participate as a sponsor at the annaul conference due to low attendence.”
Financial Statement Notes
Schedule D, Page 2, Part V, Line 4
“Minnesota colon and rectal foundation will use the endowment earnings to support the residency training program”
Schedule D, Page 3, Part X
“The foundation is tax-exempt under section 501(c)(3) of the internal revenue code and minnesota statute 290.05. It is classified as an organization that is not a private foundation under section 509(a)(2) of the internal revenue code and the contributions by donors are tax deductible. The foundation follows applicable accounting guidance regarding the recognition and disclosure of uncertain tax positions. The foundation has no reportable uncertain income tax positions under this standard.”
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| IRS990/ProgSrvcAccomActy3Grp/Desc | 0 | CONTRIBUTIONS FOR FUTURE SPONSORED COURSE. MANAGEMENT EXPECTS THIS PROGRAM TO RESUME IN FUTURE YEARS. |
| IRS990/ProgSrvcAccomActy3Grp/ExpenseAmt | 0 | 4524 |
| IRS990/ProhibitedTaxShelterTransInd | 0 | false |
| IRS990/PYContributionsGrantsAmt | 0 | 3290 |
| IRS990/PYExcessBenefitTransInd | 0 | false |
| IRS990/PYGrantsAndSimilarPaidAmt | 0 | 175000 |
| IRS990/PYInvestmentIncomeAmt | 0 | 152796 |
| IRS990/PYOtherExpensesAmt | 0 | 185611 |
| IRS990/PYOtherRevenueAmt | 0 | 2417 |
| IRS990/PYProgramServiceRevenueAmt | 0 | 120923 |
| IRS990/PYRevenuesLessExpensesAmt | 0 | -81185 |
| IRS990/PYTotalExpensesAmt | 0 | 360611 |
| IRS990/PYTotalRevenueAmt | 0 | 279426 |
| IRS990/QuidProQuoContributionsInd | 0 | false |
| IRS990/RcvFndsToPayPrsnlBnftCntrctInd | 0 | false |
| IRS990/ReconcilationRevenueExpnssAmt | 0 | -7690 |
| IRS990/RegularMonitoringEnfrcInd | 0 | true |
| IRS990/RelatedEntityInd | 0 | false |
| IRS990/RelatedOrganizationCtrlEntInd | 0 | false |
| IRS990/ReportInvestmentsOtherSecInd | 0 | false |
| IRS990/ReportLandBuildingEquipmentInd | 0 | true |
| IRS990/ReportOtherAssetsInd | 0 | false |
| IRS990/ReportOtherLiabilitiesInd | 0 | false |
| IRS990/ReportProgramRelatedInvstInd | 0 | false |
| IRS990ScheduleA/Form990ScheduleAPartVIGrp/ExplanationTxt | 0 | FUNDRAISING DINNER 89,663 |
| IRS990ScheduleA/Form990ScheduleAPartVIGrp/FormAndLineReferenceDesc | 0 | PART III, LINE 12 |
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| IRS990ScheduleA/GiftsGrantsContrisRcvd509Grp/CurrentTaxYearMinus1YearAmt | 0 | 3290 |
| IRS990ScheduleA/GiftsGrantsContrisRcvd509Grp/CurrentTaxYearMinus2YearsAmt | 0 | 5850 |
| IRS990ScheduleA/GiftsGrantsContrisRcvd509Grp/CurrentTaxYearMinus3YearsAmt | 0 | 6678 |
| IRS990ScheduleA/GiftsGrantsContrisRcvd509Grp/CurrentTaxYearMinus4YearsAmt | 0 | 8027 |
| IRS990ScheduleA/GiftsGrantsContrisRcvd509Grp/TotalAmt | 0 | 29861 |
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| IRS990ScheduleA/GrossInvestmentIncome509Grp/CurrentTaxYearMinus1YearAmt | 0 | 58636 |
| IRS990ScheduleA/GrossInvestmentIncome509Grp/CurrentTaxYearMinus2YearsAmt | 0 | 54280 |
| IRS990ScheduleA/GrossInvestmentIncome509Grp/CurrentTaxYearMinus3YearsAmt | 0 | 47375 |
| IRS990ScheduleA/GrossInvestmentIncome509Grp/CurrentTaxYearMinus4YearsAmt | 0 | 44207 |
| IRS990ScheduleA/GrossInvestmentIncome509Grp/TotalAmt | 0 | 266884 |
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| IRS990ScheduleA/GrossReceiptsAdmissionsGrp/CurrentTaxYearMinus3YearsAmt | 0 | 341440 |
| IRS990ScheduleA/GrossReceiptsAdmissionsGrp/CurrentTaxYearMinus4YearsAmt | 0 | 367615 |
| IRS990ScheduleA/GrossReceiptsAdmissionsGrp/TotalAmt | 0 | 1052424 |
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| IRS990ScheduleA/InvestmentIncomeAndUBTIGrp/TotalAmt | 0 | 266884 |
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| IRS990ScheduleA/Total509Grp/CurrentTaxYearMinus4YearsAmt | 0 | 375642 |
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| IRS990ScheduleA/TotalSupportCalendarYearGrp/CurrentTaxYearMinus4YearsAmt | 0 | 445819 |
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| IRS990/ScheduleBRequiredInd | 0 | false |
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| IRS990ScheduleD/CYEndwmtFundGrp/OtherExpendituresAmt | 0 | 2575 |
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| IRS990ScheduleD/CYMinus1YrEndwmtFundGrp/ContributionsAmt | 0 | -100000 |
| IRS990ScheduleD/CYMinus1YrEndwmtFundGrp/EndYearBalanceAmt | 0 | 699530 |
| IRS990ScheduleD/CYMinus1YrEndwmtFundGrp/InvestmentEarningsOrLossesAmt | 0 | 42192 |
| IRS990ScheduleD/CYMinus1YrEndwmtFundGrp/OtherExpendituresAmt | 0 | 1533 |
| IRS990ScheduleD/CYMinus2YrEndwmtFundGrp/BeginningYearBalanceAmt | 0 | 733471 |
| IRS990ScheduleD/CYMinus2YrEndwmtFundGrp/EndYearBalanceAmt | 0 | 758871 |
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| IRS990ScheduleD/CYMinus2YrEndwmtFundGrp/OtherExpendituresAmt | 0 | 2585 |
| IRS990ScheduleD/CYMinus3YrEndwmtFundGrp/BeginningYearBalanceAmt | 0 | 706939 |
| IRS990ScheduleD/CYMinus3YrEndwmtFundGrp/EndYearBalanceAmt | 0 | 733471 |
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| IRS990ScheduleD/CYMinus4YrEndwmtFundGrp/OtherExpendituresAmt | 0 | 1832 |
| IRS990ScheduleD/EndowmentsHeldRelatedOrgInd | 0 | false |
| IRS990ScheduleD/EndowmentsHeldUnrelatedOrgInd | 0 | false |
| IRS990ScheduleD/EquipmentGrp/DepreciationAmt | 0 | 15953 |
| IRS990ScheduleD/EquipmentGrp/OtherCostOrOtherBasisAmt | 0 | 15953 |
| IRS990ScheduleD/FootnoteTextInd | 0 | X |
| IRS990ScheduleD/PrmnntEndowmentBalanceEOYPct | 0 | 0.54000 |
| IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt | 0 | MINNESOTA COLON AND RECTAL FOUNDATION WILL USE THE ENDOWMENT EARNINGS TO SUPPORT THE RESIDENCY TRAINING PROGRAM |
| IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt | 1 | THE FOUNDATION IS TAX-EXEMPT UNDER SECTION 501(C)(3) OF THE INTERNAL REVENUE CODE AND MINNESOTA STATUTE 290.05. IT IS CLASSIFIED AS AN ORGANIZATION THAT IS NOT A PRIVATE FOUNDATION UNDER SECTION 509(A)(2) OF THE INTERNAL REVENUE CODE AND THE CONTRIBUTIONS BY DONORS ARE TAX DEDUCTIBLE. THE FOUNDATION FOLLOWS APPLICABLE ACCOUNTING GUIDANCE REGARDING THE RECOGNITION AND DISCLOSURE OF UNCERTAIN TAX POSITIONS. THE FOUNDATION HAS NO REPORTABLE UNCERTAIN INCOME TAX POSITIONS UNDER THIS STANDARD. |
| IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc | 0 | SCHEDULE D, PAGE 2, PART V, LINE 4 |
| IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc | 1 | SCHEDULE D, PAGE 3, PART X |
| IRS990ScheduleD/TermEndowmentBalanceEOYPct | 0 | 0.46000 |
| IRS990ScheduleG/FundraisingEventInformationGrp/CharitableContributionsTotAmt | 0 | 2480 |
| IRS990ScheduleG/FundraisingEventInformationGrp/CharitableContriEvent1Amt | 0 | 2480 |
| IRS990ScheduleG/FundraisingEventInformationGrp/DirectExpenseSummaryEventsAmt | 0 | 13704 |
| IRS990ScheduleG/FundraisingEventInformationGrp/Event1Nm | 0 | MN ALUMNI DINNE |
| IRS990ScheduleG/FundraisingEventInformationGrp/FoodAndBeverageEvent1Amt | 0 | 13151 |
| IRS990ScheduleG/FundraisingEventInformationGrp/FoodAndBeverageTotalEventsAmt | 0 | 13151 |
| IRS990ScheduleG/FundraisingEventInformationGrp/GrossReceiptsEvent1Amt | 0 | 16645 |
| IRS990ScheduleG/FundraisingEventInformationGrp/GrossReceiptsTotalAmt | 0 | 16645 |
| IRS990ScheduleG/FundraisingEventInformationGrp/GrossRevenueEvent1Amt | 0 | 14165 |
| IRS990ScheduleG/FundraisingEventInformationGrp/GrossRevenueTotalEventsAmt | 0 | 14165 |
| IRS990ScheduleG/FundraisingEventInformationGrp/NetIncomeSummaryAmt | 0 | 461 |
| IRS990ScheduleG/FundraisingEventInformationGrp/OthDirectExpnssTotalEventsAmt | 0 | 553 |
| IRS990ScheduleG/FundraisingEventInformationGrp/OtherDirectExpensesEvent1Amt | 0 | 553 |
| IRS990ScheduleI/GrantRecordsMaintainedInd | 0 | false |
| IRS990ScheduleI/RecipientTable/CashGrantAmt | 0 | 50000 |
| IRS990ScheduleI/RecipientTable/IRCSectionDesc | 0 | 501C3 |
| IRS990ScheduleI/RecipientTable/PurposeOfGrantTxt | 0 | EDUCATION & RESEARCH |
| IRS990ScheduleI/RecipientTable/RecipientBusinessName/BusinessNameLine1Txt | 0 | UNIVERSITY OF MINNESOTA FOUNDATION |
| IRS990ScheduleI/RecipientTable/RecipientEIN | 0 | 416042488 |
| IRS990ScheduleI/RecipientTable/USAddress/AddressLine1Txt | 0 | 200 SE OAK STREET 500 |
| IRS990ScheduleI/RecipientTable/USAddress/CityNm | 0 | MINNEAPOLIS |
| IRS990ScheduleI/RecipientTable/USAddress/StateAbbreviationCd | 0 | MN |
| IRS990ScheduleI/RecipientTable/USAddress/ZIPCd | 0 | 55455 |
| IRS990ScheduleI/Total501c3OrgCnt | 0 | 1 |
| IRS990/ScheduleJRequiredInd | 0 | false |
| IRS990/ScheduleORequiredInd | 0 | true |
| IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt | 0 | THE FOUNDATION HAS SPONSORED A COURSE AND A SPEAKER AT THE ANNUAL COLON AND RECTAL SURGERY CONFERENCE HELD IN MINNEAPOLIS. DURING THE 2017-18 YEAR, THE FOUNDATION CHOSE NOT TO PARTICIPATE AS A SPONSOR AT THE ANNAUL CONFERENCE DUE TO LOW ATTENDENCE. |
| IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt | 1 | THE EXECUTIVE COMMITTEE HAS THE AUTHORITY OF THE BOARD OF DIRECTORS IN THE MANAGEMENT OF FOUNDATION BUSINESS DURING THE INTERNVAL BETWEEN MEETINGS OF THE BOARD OF DIRECTORS. THE EXECUTIVE COMMITTEE CONSISTS OF AT LEAST TWO PERSONS SELECTED BY THE BOARD OF DIRECTORS FROM THE BOARD OF DIRECTORS, PLUS THE PERSON PRIMARILY RESPONSIBLE FOR MAINTAINING THE FINANCIAL BOOKS AND RECORDS OF THE FOUNDATION. AT ALL TIMES, THE EXECUTIVE COMMITTEE IS SUBJECT TO THE CONTROL AND DIRECTION OF THE FOUNDATION'S BOARD OF DIRECTORS. |
| IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt | 2 | MICHAEL SPENCER MARK SUN |
| IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt | 3 | TWO MEMBERS OF THE BOARD OF DIRECTORS ARE APPOINTED BY COLON AND RECTAL SURGERY ASSOCIATES, LTD THE REMAINING DIRECTOR(S) ARE ELECTED BY THE BOARD OF DIRECTORS FROM THE ALUMNI OFTHE MINNESOTA COLORECTAL RESIDENCY TRAINING PROGRAM AND FROM THE COMMUNITY AT-LARGE |
| IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt | 4 | TWO MEMBERS OF THE BOARD OF DIRECTORS ARE APPOINTED BY COLON AND RECTAL SURGERY ASSOCIATES, LTD |
| IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt | 5 | THE FORM 990 WILL BE E-MAILED TO THE BOARD MEMBERS PRIOR TO FILING FOR REVIEW AND COMMENTS JIM MUSTONEN WILL CONDUCT THE PRIMARY REVIEW AND WILL WORK WITH THE OTHER MEMBERS OF THE EXECUTIVE COMMITTEE IF NEEDED |
| IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt | 6 | ALL MEMBERS SHALL DISCLOSE PRIOR TO THE START OF A NEW FISCAL YEAR USING THE CONFLICT OF INTEREST ASSURANCE OF COMPLIANCE (CIAC) FORM, ANY INTERESTS REQUIRED BY THE FOUNDATION'S CONFLICT OF INTEREST POLICY ADDITIONALLY, ANY EVENTS DURING THE FISCAL YEAR THAT GIVE RISE TO THE REQUIREMENT TO DISCLOSE IF ANY CONFLICT OF INTEREST MIGHT EXIST SHALL ALSO BE DISCLOSED UTILIZING THE CIAC THE FOUNDATION'S PRESIDENT WILL ESTABLISH A CONFLICT OF INTEREST REVIEW COMMITTEE (CIRC) COMPRISED OF TWO BOARD MEMBERS AND THE CFO THE CIRC WILL REVIEW THE CIAC FORMS AND EVALUATE EACH SITUATION ON ITS OWN MERITS, AND IF A POTENTIAL CONFLICT IS NOTED, WILL INCLUDE A WRITTEN RECOMMENDATION FOR ITS MANAGEMENT THE ORGANIZATION'S GENERAL LEGAL COUNSEL WILL BE CONTACTED AS THE CIRC DEEMS NECESSARY ANY MEMBER HAVING AN ACTUAL OR POTENTIAL CONFLICT OF INTEREST ON ANY MATTER CONSIDERED BY THE BOARD SHALL NOT VOTE ON SUCH MATTER THE MINUTES OF THE MEETING SHALL REFLECT THAT SUCH DIRECTOR DISCLOSED THE INTEREST AND ABSTAINED FROM VOTING |
| IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt | 7 | THE FOUNDATION MAKES ITS GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICY, AND FINANCIAL STATEMENTS AVAILABLE UPON REQUEST |
| IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc | 0 | FORM 990, PAGE 2, PART III, LINE 3 |
| IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc | 1 | FORM 990, PAGE 6, PART VI, LINE 1A |
| IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc | 2 | FORM 990, PAGE 6, PART VI, LINE 2 |
| IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc | 3 | FORM 990, PAGE 6, PART VI, LINE 7A |
| IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc | 4 | FORM 990, PAGE 6, PART VI, LINE 7B |
| IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc | 5 | FORM 990, PAGE 6, PART VI, LINE 11B |
| IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc | 6 | FORM 990, PAGE 6, PART VI, LINE 12C |
| IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc | 7 | FORM 990, PAGE 6, PART VI, LINE 19 |
| IRS990/SchoolOperatingInd | 0 | false |
| IRS990/SignificantChangeInd | 0 | true |
| IRS990/SignificantNewProgramSrvcInd | 0 | false |
| IRS990/StatesWhereCopyOfReturnIsFldCd | 0 | MN |
| IRS990/SubjectToProxyTaxInd | 0 | false |
| IRS990/TaxablePartyNotificationInd | 0 | false |
| IRS990/TaxExemptBondsInd | 0 | false |
| IRS990/TemporarilyRstrNetAssetsGrp/BOYAmt | 0 | 344432 |
| IRS990/TemporarilyRstrNetAssetsGrp/EOYAmt | 0 | 360392 |
| IRS990/TempOrPermanentEndowmentsInd | 0 | true |
| IRS990/TerminateOperationsInd | 0 | false |
| IRS990/TotalAssetsBOYAmt | 0 | 2745969 |
| IRS990/TotalAssetsEOYAmt | 0 | 2764961 |
| IRS990/TotalAssetsGrp/BOYAmt | 0 | 2745969 |
| IRS990/TotalAssetsGrp/EOYAmt | 0 | 2764961 |
| IRS990/TotalCompGreaterThan150KInd | 0 | false |
| IRS990/TotalContributionsAmt | 0 | 6016 |
| IRS990/TotalEmployeeCnt | 0 | 0 |
| IRS990/TotalFunctionalExpensesGrp/FundraisingAmt | 0 | 461 |
| IRS990/TotalFunctionalExpensesGrp/ManagementAndGeneralAmt | 0 | 43991 |
| IRS990/TotalFunctionalExpensesGrp/ProgramServicesAmt | 0 | 57099 |
| IRS990/TotalFunctionalExpensesGrp/TotalAmt | 0 | 101551 |
| IRS990/TotalGrossUBIAmt | 0 | 0 |
| IRS990/TotalLiabilitiesBOYAmt | 0 | 73125 |
| IRS990/TotalLiabilitiesEOYAmt | 0 | 38834 |
| IRS990/TotalLiabilitiesGrp/BOYAmt | 0 | 73125 |
| IRS990/TotalLiabilitiesGrp/EOYAmt | 0 | 38834 |
| IRS990/TotalNetAssetsFundBalanceGrp/BOYAmt | 0 | 2672844 |
| IRS990/TotalNetAssetsFundBalanceGrp/EOYAmt | 0 | 2726127 |
| IRS990/TotalProgramServiceExpensesAmt | 0 | 57099 |
| IRS990/TotalProgramServiceRevenueAmt | 0 | 5240 |
| IRS990/TotalRevenueGrp/ExclusionAmt | 0 | 82605 |
| IRS990/TotalRevenueGrp/RelatedOrExemptFuncIncomeAmt | 0 | 5240 |
| IRS990/TotalRevenueGrp/TotalRevenueColumnAmt | 0 | 93861 |
| IRS990/TotalVolunteersCnt | 0 | 5 |
| IRS990/TotLiabNetAssetsFundBalanceGrp/BOYAmt | 0 | 2745969 |
| IRS990/TotLiabNetAssetsFundBalanceGrp/EOYAmt | 0 | 2764961 |
| IRS990/TravelGrp/ProgramServicesAmt | 0 | 2641 |
| IRS990/TravelGrp/TotalAmt | 0 | 2641 |
| IRS990/TrnsfrExmptNonChrtblRltdOrgInd | 0 | false |
| IRS990/TypeOfOrganizationCorpInd | 0 | X |
| IRS990/UnrelatedBusIncmOverLimitInd | 0 | false |
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.
- Assets
- $2,764,961
- Liabilities
- $38,834
- Net assets
- $2,726,127
- Revenue
- $93,861
- Expenses
- $101,551
- Net income
- -$7,690