Civic Intelligence

Ridgewater College Foundation

990 • Fiscal year 2017 • EIN 41-1847315

Jul 01, 2016 to Jun 30, 2017 • Filed on Sep 07, 2017

Organization ProfileWWW.RIDGEWATER.MNSCU.EDU
2101 15th Ave NW PO Box 1097Willmar, MN 56201

(320) 222-6095

Siviq Scores

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

Liabilities / Assets

48th percentile

0.08x

Higher debt load relative to assets than 48% of similar nonprofits.

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

Liabilities / Revenue

53rd percentile

0.11x

Higher debt load relative to revenue than 53% of similar nonprofits.

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

Net Margin

60th percentile

7.1%

Higher net margin than 60% 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

70th percentile

11%

Faster asset growth than 70% of similar nonprofits.

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

Revenue Growth

90th percentile

69%

Faster revenue growth than 90% of similar nonprofits.

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

Balance Sheet
Liabilities / Assets48th percentile

Assets

Up

$2,635,906

Up $270,219 (+11%) from 2016

Net Assets

Up

$2,419,433

Up $268,572 (+12%) from 2016

Liabilities

Up

$216,473

Up $1,647 (+0.8%) from 2016

Revenue And Expenses
Liabilities / Revenue53rd percentileNet Margin60th percentile

Revenue

Up

$1,919,507

Up $784,903 (+69%) from 2016

Expenses

Up

$1,784,094

Up $546,188 (+44%) from 2016

Net Income

Up

$135,413

Up $238,715 (+231%) from 2016

Historical Trend

Balance Sheet Trend

Asset Growth70th percentile

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

$6.0M$4.0M$2.0M$0Assets 2012: $2,212,202Liabilities 2012: $154,647Net Assets 2012: $2,057,5552012Assets 2013: $2,291,606Liabilities 2013: $157,603Net Assets 2013: $2,134,0032013Assets 2014: $2,696,220Liabilities 2014: $173,873Net Assets 2014: $2,522,3472014Assets 2015: $2,592,854Liabilities 2015: $229,870Net Assets 2015: $2,362,9842015Assets 2016: $2,365,687Liabilities 2016: $214,826Net Assets 2016: $2,150,8612016Assets 2017: $2,635,906Liabilities 2017: $216,473Net Assets 2017: $2,419,4332017Assets 2018: $2,804,091Liabilities 2018: $226,311Net Assets 2018: $2,577,7802018Assets 2019: $2,753,465Liabilities 2019: $148,671Net Assets 2019: $2,604,7942019Assets 2020: $2,775,136Liabilities 2020: $167,480Net Assets 2020: $2,607,6562020Assets 2021: $3,638,599Liabilities 2021: $184,628Net Assets 2021: $3,453,9712021Assets 2022: $2,924,847Liabilities 2022: $209,114Net Assets 2022: $2,715,7332022Assets 2023: $4,096,939Liabilities 2023: $244,488Net Assets 2023: $3,852,4512023Assets 2024: $4,382,479Liabilities 2024: $206,531Net Assets 2024: $4,175,9482024Assets 2025: $4,551,534Liabilities 2025: $208,300Net Assets 2025: $4,343,2342025

Highlighted filing

2017

Assets$2,635,906
Liabilities$216,473
Net Assets$2,419,433
Open 2017 Filing

Operations Trend

Revenue Growth90th percentile

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

$3.0M$2.0M$1.0M$0-$1.0MRevenue 2012: $521,602Expenses 2012: $636,393Net Income 2012: -$114,7912012Revenue 2013: $600,216Expenses 2013: $643,190Net Income 2013: -$42,9742013Revenue 2014: $1,104,837Expenses 2014: $874,812Net Income 2014: $230,0252014Revenue 2015: $1,170,543Expenses 2015: $1,195,378Net Income 2015: -$24,8352015Revenue 2016: $1,134,604Expenses 2016: $1,237,906Net Income 2016: -$103,3022016Revenue 2017: $1,919,507Expenses 2017: $1,784,094Net Income 2017: $135,4132017Revenue 2018: $1,598,248Expenses 2018: $1,548,851Net Income 2018: $49,3972018Revenue 2019: $1,236,792Expenses 2019: $1,275,367Net Income 2019: -$38,5752019Revenue 2020: $1,489,330Expenses 2020: $1,491,078Net Income 2020: -$1,7482020Revenue 2021: $1,607,575Expenses 2021: $1,463,822Net Income 2021: $143,7532021Revenue 2022: $1,475,691Expenses 2022: $1,338,985Net Income 2022: $136,7062022Revenue 2023: $2,719,233Expenses 2023: $1,768,311Net Income 2023: $950,9222023Revenue 2024: $1,859,802Expenses 2024: $1,588,194Net Income 2024: $271,6082024Revenue 2025: $1,380,782Expenses 2025: $1,240,788Net Income 2025: $139,9942025

Highlighted filing

2017

Revenue$1,919,507
Expenses$1,784,094
Net Income$135,413
Open 2017 Filing
Jump To
Filing Snapshot
Filing Period
Jul 1, 2016 to Jun 30, 2017
Signed
Sep 7, 2017
Return Version
2016v3.0
Gross Receipts
$3,015,874
Mission and Program Overview

Mission

To expand educational opportunities and enhance academic excellence at ridgewater college by providing financial and community support. The foundation accomplishes its mission through its annual and capital fundraising campaigns, which raise funds for scholarships for students, program support for college departments and programs and a state-of-the-art mobile simulation laboratory which will provide health care training throughout the region.

Balance Sheet Detail
LineBeginningEndChange
Assets
Investments in Publicly Traded Securities$2,217,808$2,522,105▲ $304,297
Savings and Temporary Cash Investments$102,620$78,099▼ $24,521
Pledges and Grants Receivable$37,790$28,290▼ $9,500
Land, Buildings, and Equipment, Net$172$115▼ $57
Total Assets$2,365,687$2,635,906▲ $270,219
Other Assets Total$7,297$7,297→ $0
Liabilities
Accounts Payable and Accrued Expenses$214,826$216,473▲ $1,647
Total Liabilities$214,826$216,473▲ $1,647
Net Assets / Fund Balance
Permanently Rstr Net Assets$2,757,809$2,760,587▲ $2,778
Unrestricted Net Assets$138,181$119,176▼ $19,005
Temporarily Rstr Net Assets$-745,129$-460,330▲ $284,799
Total Net Assets Fund Balance$2,150,861$2,419,433▲ $268,572
Total Liabilities and Net Assets / Fund Balance$2,365,687$2,635,906▲ $270,219

Asset Categories

AssetBook ValueDepreciationBasis
Other Land Buildings$115$30,062$30,177

Endowment Activity

PeriodBeginningContrib.Gain/LossOther UsesEnd
2016$2,150,863$1,720,446▲ $332,219$1,552,758$2,419,434
2015$2,362,985$1,098,194▼ $72,410$1,015,030$2,150,863
2014$2,522,348$965,554▲ $70,460$977,844$2,362,985
2013$2,134,004$899,476▲ $363,680$672,218$2,522,348
2012$2,057,555$468,339▲ $251,299$441,251$2,134,004
Compensation and Service Providers
Top Officer Pay35th percentile

Board Members and Trustees

NameTitle
Bill FenskePresident
David LarsonDirector
Diane KnorrDirector
Eric LipkeDirector
Jason DuininckDirector
Jennifer LownsburyDirector
Jim WendlingDirector
Joan ChristiansonDirector
Julie JensenDirector
Mark a OlsonDirector
Mary SeifertDirector
Rob HantgeDirector
Roger GauquieDirector
Karen LangmoTreasurer/se
Dr Steve MulderVice Preside
Revenue and Support

Revenue Composition

Contributions and Grants
$1,699,036
Program Service Revenue
$0
Investment Income
$199,060
Other Revenue
$21,411
All Other Contributions
$1,699,036
Change in Net Assets
$135,413

Noncash Contribution Practices

Property subject to holding requirements
No
Reviewed unusual noncash gifts
No
Third parties used for noncash contributions
No

Noncash Contributions

Contribution TypeContribution CountReported Amount
Other Non Cash Contri Table75$603,674
Other Non Cash Contri Table1$81,107
Cars and Other Vehicles1$20,810
Other Non Cash Contri Table1$6,500
Total Noncash Contributions78$712,091

Audited Revenue Reconciliation

Revenue per Audited Statements
$1,919,507
Revenue Not Reported on Form 990
$133,159
Total Revenue per Audited Statements
$2,052,666
Total Revenue per Form 990
$1,919,507
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Grants and Similar Amounts Paid$1,508,264
Salaries, Compensation, and Employee Benefits$202,003
Other Expenses$73,827
Total Fundraising Expense$44,494
Professional Fundraising Fees$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Grants to Domestic Orgs$1,508,264--$1,508,264
Current Officers, Directors, Trustees, and Key Employees-$93,910$31,315$125,225
Other Salaries and Wages-$76,778-$76,778
Fees for Services Other-$19,606-$19,606
Occupancy-$6,500-$6,500
Other Expenses-$27,667$6,095$6,095
Advertising--$5,861$5,861
Office Expenses-$4,254-$4,254
Travel-$2,562$1,223$3,785
Depreciation Depletion-$59-$59
Total Functional Expenses$1,508,264$231,336$44,494$1,784,094

Audited Expense Reconciliation

Line ItemAmount
Expenses per Audited Statements$1,784,094
Total Expenses per Audited Statements$1,784,094
Total Expenses per Form 990$1,784,094
International Activity

Grant and Assistance Recipients

RecipientLocationCategoryPurposeAmount
Ridgewater CollegeWillmar, MN-Scholarships to Stud$883,780
Fundraising, Events, and Gaming
Fundraising activities
Yes
Gaming activities
No
Professional fundraiser used
No

Fundraising and Gaming Totals

Line ItemAmount
Fundraising Gross Income$38,564
Fundraising Direct Expenses$17,153
Professional Fundraising Fees$0

Fundraising Events

EventGross ReceiptsGross RevenueDirect ExpensesNet Income
Ag Department R$20,999$20,999$2,803$18,196
Golf Tourney$16,475$16,475$3,063$13,412
Total Events$37,474$37,474$14,771$22,703
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
Yes
Audit committee
Yes
Backup withholding compliance
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 6

“Organization has a board of directors”

Form 990, Page 6, Part VI, Line 7A

“Board members nominate individuals to fill vacancies on the board and the board votes to approve new members.”

Form 990, Page 6, Part VI, Line 11B

“A copy of the 990 is given to the board to read and approve.”

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

“Board members are required to complete a conflict of interest disclosure form annually.”

Form 990, Page 6, Part VI, Line 19

“Public may request to view documents during regular business hours at the foundation's place of business.”

Filing and Contact Details

Filer

Filer Name
Ridgewater College Foundation
EIN
41-1847315
Phone
3202226095
Address
2101 15TH AVE NW PO BOX 1097, WILLMAR, MN 56201

Signing Officer

Name
Bill Fenske
Title
President
Phone
3202226095
Signed
2017-09-07

Organization Details

Principal Officer
Bill Fenske
Legal Domicile
Mn
Voting Board Members
15
Independent Board Members
15
Employees
2

Preparer

Firm
Westberg-eischens Pllp
Address
PO BOX 362, WILLMAR, MN 56201-0362
Preparer
Travis Steffensen CPA
Phone
3202353727
Supplemental Narrative

Additional Explanations

FORM 990 - ORGANIZATION'S MISSION

“To expand educational opportunities and enhance academic excellence at ridgewater college by providing financial and community support. The foundation accomplishes its mission through its annual and capital fundraising campaigns, which raise funds for scholarships for students, program support for college departments and programs and a state-of-the-art mobile simulation laboratory which will provide health care training throughout the region.”

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IRS990ScheduleD/CYMinus2YrEndwmtFundGrp/InvestmentEarningsOrLossesAmt070460
IRS990ScheduleD/CYMinus2YrEndwmtFundGrp/OtherExpendituresAmt0977844
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Document Assets

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Filings

Displayed year

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

Open filing
Assets
$2,635,906
Liabilities
$216,473
Net assets
$2,419,433
Revenue
$1,919,507
Expenses
$1,784,094
Net income
$135,413
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2025Detailed filing. Detailed filing data is available for this year.$4.55$0.21$4.34$1.38$1.24$0.14
2024Detailed filing. Detailed filing data is available for this year.$4.38$0.21$4.18$1.86$1.59$0.27
2023Detailed filing. Detailed filing data is available for this year.$4.10$0.24$3.85$2.72$1.77$0.95
2022Detailed filing. Detailed filing data is available for this year.$2.92$0.21$2.72$1.48$1.34$0.14
2021Facts available. Structured filing facts are available, but richer extracted sections are limited.$3.64$0.18$3.45$1.61$1.46$0.14
2020Detailed filing. Detailed filing data is available for this year.$2.78$0.17$2.61$1.49$1.49$0.00
2019Detailed filing. Detailed filing data is available for this year.$2.75$0.15$2.60$1.24$1.28$0.04
2018Detailed filing. Detailed filing data is available for this year.$2.80$0.23$2.58$1.60$1.55$0.05
2017Detailed filing. Detailed filing data is available for this year.$2.64$0.22$2.42$1.92$1.78$0.14
2016Detailed filing. Detailed filing data is available for this year.$2.37$0.21$2.15$1.13$1.24$0.10
2015Summary only. Only limited summary data is available for this year.$2.59$0.23$2.36$1.17$1.20$0.02
2014Summary only. Only limited summary data is available for this year.$2.70$0.17$2.52$1.10$0.87$0.23
2013Summary only. Only limited summary data is available for this year.$2.29$0.16$2.13$0.60$0.64$0.04
2012Summary only. Only limited summary data is available for this year.$2.21$0.15$2.06$0.52$0.64$0.11