Civic Intelligence

Cannon Falls Educational Foundation

990 • Fiscal year 2022 • EIN 41-1759564

Jul 01, 2021 to Jun 30, 2022 • Filed on Aug 22, 2022

Organization Profilewww.cannonfallsschools.com/community/e
820 E Minnesota StreetCannon Falls, MN 55009

(507) 263-6800

Siviq Scores

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

Liabilities / Assets

17th percentile

0.00x

Tied with the lowest-debt nonprofits in its peer group.

2022 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2022

Liabilities / Revenue

17th percentile

0.00x

Tied with the lowest-debt nonprofits in its peer group.

2022 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2022

Net Margin

82nd percentile

34%

Higher net margin than 82% of similar nonprofits.

2022 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2022

Top Officer Pay

39th percentile

$0

Higher top officer pay than 39% of similar nonprofits.

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

2022 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2022

Asset Growth

10th percentile

-17%

Faster asset growth than 10% of similar nonprofits.

2022 filings • 501(c)3 • $1M-$5M nonprofits • Annualized from 2021 to 2022

Revenue Growth

82nd percentile

52%

Faster revenue growth than 82% of similar nonprofits.

2022 filings • 501(c)3 • $1M-$5M nonprofits • Annualized from 2021 to 2022

Balance Sheet
Liabilities / Assets17th percentile

Assets

Down

$1,565,346

Down $328,365 (-17%) from 2021

Net Assets

Down

$1,565,346

Down $328,365 (-17%) from 2021

Liabilities

Flat

$0

Flat from 2021

Revenue And Expenses
Liabilities / Revenue17th percentileNet Margin82nd percentile

Revenue

Up

$189,879

Up $64,968 (+52%) from 2021

Expenses

Up

$125,246

Up $70,146 (+127%) from 2021

Net Income

Down

$64,633

Down $5,178 (-7.4%) from 2021

Historical Trend

Balance Sheet Trend

Asset Growth10th percentile

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

$2.0M$1.5M$1.0M$500K$0Assets 2011: $545,293Liabilities 2011: $02011Assets 2012: $598,242Liabilities 2012: $5,619Net Assets 2012: $592,6232012Assets 2013: $618,710Liabilities 2013: $1,000Net Assets 2013: $617,7102013Assets 2014: $663,295Liabilities 2014: $1,500Net Assets 2014: $661,7952014Assets 2015: $699,486Liabilities 2015: $0Net Assets 2015: $699,4862015Assets 2016: $742,748Liabilities 2016: $0Net Assets 2016: $742,7482016Assets 2017: $1,301,213Liabilities 2017: $9,606Net Assets 2017: $1,291,6072017Assets 2018: $1,443,121Liabilities 2018: $0Net Assets 2018: $1,443,1212018Assets 2019: $1,390,228Liabilities 2019: $0Net Assets 2019: $1,390,2282019Assets 2020: $1,377,897Liabilities 2020: $50Net Assets 2020: $1,377,8472020Assets 2021: $1,893,711Liabilities 2021: $0Net Assets 2021: $1,893,7112021Assets 2022: $1,565,346Liabilities 2022: $0Net Assets 2022: $1,565,3462022Assets 2023: $1,637,309Liabilities 2023: $0Net Assets 2023: $1,637,3092023Assets 2024: $1,837,792Liabilities 2024: $100Net Assets 2024: $1,837,6922024Assets 2025: $1,961,467Liabilities 2025: $0Net Assets 2025: $1,961,4672025

Highlighted filing

2022

Assets$1,565,346
Liabilities$0
Net Assets$1,565,346
Open 2022 Filing

Operations Trend

Revenue Growth82nd percentile

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

$800K$600K$400K$200K$0-$200KRevenue 2011: $145,910Expenses 2011: $57,627Net Income 2011: $88,2832011Expenses 2012: $59,3542012Expenses 2013: $67,4102013Revenue 2014: $95,750Expenses 2014: $51,665Net Income 2014: $44,0852014Revenue 2015: $96,360Expenses 2015: $58,669Net Income 2015: $37,6912015Revenue 2016: $91,950Expenses 2016: $48,688Net Income 2016: $43,2622016Revenue 2017: $607,001Expenses 2017: $58,142Net Income 2017: $548,8592017Revenue 2018: $218,626Expenses 2018: $67,112Net Income 2018: $151,5142018Revenue 2019: $140,490Expenses 2019: $193,383Net Income 2019: -$52,8932019Revenue 2020: $87,699Expenses 2020: $100,080Net Income 2020: -$12,3812020Revenue 2021: $124,911Expenses 2021: $55,100Net Income 2021: $69,8112021Revenue 2022: $189,879Expenses 2022: $125,246Net Income 2022: $64,6332022Revenue 2023: $172,525Expenses 2023: $184,069Net Income 2023: -$11,5442023Revenue 2024: $179,751Expenses 2024: $118,573Net Income 2024: $61,1782024Revenue 2025: $176,746Expenses 2025: $150,949Net Income 2025: $25,7972025

Highlighted filing

2022

Revenue$189,879
Expenses$125,246
Net Income$64,633
Open 2022 Filing
Jump To
Filing Snapshot
Filing Period
Jul 1, 2021 to Jun 30, 2022
Signed
Aug 22, 2022
Return Version
2021v4.0
Gross Receipts
$260,575
Mission and Program Overview

Mission

Cannon falls education foundation (cfef)is committed to improving education for cannon falls area schools. Cfef supports and promotes excellence in education by raising and providing funding for all types of creative and innovative educational programs and activities that are above and beyond the programs supported by general education dollars.

Cannon falls education foundation (cfef) is committed to improving education for cannon falls area schools. Cfef supports and promotes excellence in education by providing funding for all types of creative and innovative educational programs and activities that are above and beyond the programs supported by general education dollars.

Balance Sheet Detail
LineBeginningEndChange
Assets
Investments in Publicly Traded Securities$1,810,551$1,473,715▼ $336,836
Cash and Non-Interest-Bearing Accounts$403$8,651▲ $8,248
Savings and Temporary Cash Investments$5,949$5,952▲ $3
Prepaid Expenses and Deferred Charges$40$0▼ $40
Accounts Receivable-$0-
Other Notes and Loans Receivable, Net-$0-
Pledges and Grants Receivable-$0-
Receivable From Disqualified Prsn-$0-
Receivables From Officers Etc-$0-
Investments Other Securities-$0-
Investments Program Related-$0-
Land, Buildings, and Equipment, Net-$0-
Intangible Assets-$0-
Inventories for Sale or Use-$0-
Total Assets$1,893,711$1,565,346▼ $328,365
Other Assets Total$76,768$77,028▲ $260
Liabilities
Total Liabilities$0$0→ $0
Net Assets / Fund Balance
Net Assets With Donor Restrictions$1,370,215$1,420,442▲ $50,227
Net Assets Without Donor Restrictions$523,496$144,904▼ $378,592
Total Net Assets Fund Balance$1,893,711$1,565,346▼ $328,365
Total Liabilities and Net Assets / Fund Balance$1,893,711$1,565,346▼ $328,365

Endowment Activity

PeriodBeginningContrib.Gain/LossOther UsesEnd
2021$1,370,215$18,762▲ $120,056-$1,420,442
2020$1,355,013$13,294▲ $66,385-$1,370,215
2019$1,347,915$56,430--$1,355,013
2018$1,400,218---$1,347,915
2017$1,220,876$179,342--$1,400,218
Compensation and Service Providers
Top Officer Pay39th percentile

Board Members and Trustees

NameTitle
Cathy BanksPresident
Madeline LatuffVice President
Amy DombeckDirector
Beth McgorryDirector
Cassi PagelDirector
Geri GeikenDirector
Ginger BauerDirector
Jill VillarrealDirector
Julie AndersonDirector
Martha BowenDirector
Mary WertjesDirector
Matt MontgomeryDirector
Robin NelsonDirector
Steve PagelDirector
Tammy ReichertsDirector
Tanner CarlsonDirector
Stephanie StoddenSecretary
Laura FreebergTreasurer
Revenue and Support

Revenue Composition

Contributions and Grants
$28,293
Program Service Revenue
$0
Investment Income
$133,594
Other Revenue
$27,992
All Other Contributions
$28,293
Change in Net Assets
$64,633
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Grants and Similar Amounts Paid$101,052
Other Expenses$24,194
Professional Fundraising Fees$0
Salaries, Compensation, and Employee Benefits$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Grants to Domestic Orgs$101,052--$101,052
Fees for Service Investment Mgmnt Fees-$16,169-$16,169
Fees for Services Accounting-$4,775-$4,775
Fees for Services Legal-$2,000-$2,000
Other Expenses-$25-$25
Office Expenses-$20-$20
All Other Expenses-$11-$11
Total Functional Expenses$101,052$24,194$0$125,246
International Activity

Grant and Assistance Recipients

RecipientLocationCategoryPurposeAmount
Cannon Falls School DistrictCannon Falls, MN-Education Support$101,052
Fundraising, Events, and Gaming
Fundraising activities
Yes
Gaming activities
No
Professional fundraiser used
No

Fundraising and Gaming Totals

Line ItemAmount
Fundraising Gross Income$40,866
Fundraising Direct Expenses$12,874
Professional Fundraising Fees$0

Fundraising Events

EventGross ReceiptsGross RevenueDirect ExpensesNet Income
Auction$26,966$26,966$7,530$19,436
Poker Social$8,690$8,690$1,294$7,396
Total Events$40,866$40,866$12,874$27,992
Political and Lobbying Activity
Political campaign activity
No
Lobbying activity
No
Subject to proxy tax
No
Insider Transactions and Loans

Loans and Receivables

Line ItemBeginningEndChange
Receivables from Disqualified Persons-$0-
Receivables from Officers, Directors, Trustees, and Key Employees-$0-
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
Yes
Backup withholding compliance
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
Yes
Audited financial statements prepared
No
Key decisions subject to board approval
No
Management duties delegated
No

Governance Explanations

Form 990, Part VI, Line 11B: Form 990 Review Process

“990 is provided to the board for approval before it is filed.”

Form 990, Part VI, Line 19: Other Organization Documents Publicly Available

“Governing documents are available upon request. Financial information is available on the cannon falls school district website.”

Filing and Contact Details

Filer

Filer Name
Cannon Falls Education Foundation
EIN
41-1759564
Phone
5072636800
Address
820 E MINNESOTA STREET, CANNON FALLS, MN 55009

Signing Officer

Name
Laura Freeberg
Title
Treasurer
Signed
2022-08-22
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Laura Freeberg
Formed
1993
Legal Domicile
Mn
Voting Board Members
18
Independent Board Members
18
Employees
0

Preparer

Firm
Trever Sand LLC
Address
40 16TH ST SE STE B, ROCHESTER, MN 55904
Preparer
Trever L Sand
Phone
5072894545
Supplemental Narrative

Financial Statement Notes

Part V, Line 4: Intended uses of the endowment fund.

“One-third of all funds raised and 100% of investment income are allocated to the foundations quasi-endowment fund for the purpose of becoming a self-sufficient supporting education foundation. Each year, 4% of the prior year's ending endowment fund balance is allocated to the current year's education program funding.”

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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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IRS990/LobbyingActivitiesInd0false
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IRS990/OtherExpensesGrp/Desc1Printing and Publications
IRS990/OtherExpensesGrp/Desc2DUES
IRS990/OtherExpensesGrp/Desc3FILING AND OTHER FEES
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IRS990/OtherExpensesGrp/ManagementAndGeneralAmt1156
IRS990/OtherExpensesGrp/ManagementAndGeneralAmt2100
IRS990/OtherExpensesGrp/ManagementAndGeneralAmt325
IRS990/OtherExpensesGrp/TotalAmt0938
IRS990/OtherExpensesGrp/TotalAmt1156
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IRS990/PaymentsToAffiliatesGrp/TotalAmt00
IRS990/PayPremiumsPrsnlBnftCntrctInd0false
IRS990/PayrollTaxesGrp/TotalAmt00
IRS990/PensionPlanContributionsGrp/TotalAmt00
IRS990/PledgesAndGrantsReceivableGrp/EOYAmt00
IRS990/PoliticalCampaignActyInd0false
IRS990/PrepaidExpensesDefrdChargesGrp/BOYAmt040
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IRS990/PrincipalOfficerNm0LAURA FREEBERG
IRS990/ProfessionalFundraisingInd0false
IRS990/ProhibitedTaxShelterTransInd0false
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IRS990/PYExcessBenefitTransInd0false
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IRS990/QuidProQuoContributionsInd0false
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Document Assets

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Filings

Displayed year

2022 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$1,565,346
Liabilities
$0
Net assets
$1,565,346
Revenue
$189,879
Expenses
$125,246
Net income
$64,633
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2025Detailed filing. Detailed filing data is available for this year.$1.96$0.00$1.96$0.18$0.15$0.03
2024Detailed filing. Detailed filing data is available for this year.$1.84$0.00$1.84$0.18$0.12$0.06
2023Detailed filing. Detailed filing data is available for this year.$1.64$0.00$1.64$0.17$0.18$0.01
2022Detailed filing. Detailed filing data is available for this year.$1.57$0.00$1.57$0.19$0.13$0.06
2021Detailed filing. Detailed filing data is available for this year.$1.89$0.00$1.89$0.12$0.06$0.07
2020Detailed filing. Detailed filing data is available for this year.$1.38$0.00$1.38$0.09$0.10$0.01
2019Detailed filing. Detailed filing data is available for this year.$1.39$0.00$1.39$0.14$0.19$0.05
2018Detailed filing. Detailed filing data is available for this year.$1.44$0.00$1.44$0.22$0.07$0.15
2017Detailed filing. Detailed filing data is available for this year.$1.30$0.01$1.29$0.61$0.06$0.55
2016Detailed filing. Detailed filing data is available for this year.$0.74$0.00$0.74$0.09$0.05$0.04
2015Detailed filing. Detailed filing data is available for this year.$0.70$0.00$0.70$0.10$0.06$0.04
2014Detailed filing. Detailed filing data is available for this year.$0.66$0.00$0.66$0.10$0.05$0.04
2013Facts available. Structured filing facts are available, but richer extracted sections are limited.$0.62$0.00$0.62$0.07
2012Facts available. Structured filing facts are available, but richer extracted sections are limited.$0.60$0.01$0.59$0.06
2011Summary only. Only limited summary data is available for this year.$0.55$0.00$0.15$0.06$0.09