Civic Intelligence

Ridgewater College Foundation

990 • Fiscal year 2019 • EIN 41-1847315

Jul 01, 2018 to Jun 30, 2019 • Filed on Aug 26, 2019

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

44th percentile

0.05x

Higher debt load relative to assets than 44% of similar nonprofits.

2019 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2019

Liabilities / Revenue

56th percentile

0.12x

Higher debt load relative to revenue than 56% of similar nonprofits.

2019 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2019

Net Margin

31st percentile

-3.1%

Higher net margin than 31% of similar nonprofits.

2019 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2019

Top Officer Pay

65th percentile

$92,682

Higher top officer pay than 65% of similar nonprofits.

Top officer pay equals 7.5% of source-year revenue.

2019 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2019

Asset Growth

32nd percentile

-1.8%

Faster asset growth than 32% of similar nonprofits.

2019 filings • 501(c)3 • $1M-$5M nonprofits • Annualized from 2018 to 2019

Revenue Growth

13th percentile

-23%

Faster revenue growth than 13% of similar nonprofits.

2019 filings • 501(c)3 • $1M-$5M nonprofits • Annualized from 2018 to 2019

Assets

Down

$2,753,465

Down $50,626 (-1.8%) from 2018

Net Assets

Up

$2,604,794

Up $27,014 (+1.0%) from 2018

Liabilities

Down

$148,671

Down $77,640 (-34%) from 2018

Revenue

Down

$1,236,792

Down $361,456 (-23%) from 2018

Expenses

Down

$1,275,367

Down $273,484 (-18%) from 2018

Net Income

Down

-$38,575

Down $87,972 (-178%) from 2018

Historical Trend

Balance Sheet Trend

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

2019

Assets$2,753,465
Liabilities$148,671
Net Assets$2,604,794

Operations Trend

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

2019

Revenue$1,236,792
Expenses$1,275,367
Net Income-$38,575
Jump To
Filing Snapshot
Filing Period
Jul 1, 2018 to Jun 30, 2019
Signed
Aug 26, 2019
Return Version
2018v3.1
Gross Receipts
$2,000,867
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$2,578,790$2,606,481▲ $27,691
Savings and Temporary Cash Investments$140,004$108,187▼ $31,817
Pledges and Grants Receivable$76,750$30,250▼ $46,500
Total Assets$2,804,091$2,753,465▼ $50,626
Other Assets Total$8,547$8,547→ $0
Liabilities
Accounts Payable and Accrued Expenses$226,311$148,671▼ $77,640
Total Liabilities$226,311$148,671▼ $77,640
Net Assets / Fund Balance
Permanently Rstr Net Assets$2,840,807$2,914,327▲ $73,520
Unrestricted Net Assets$126,866$113,348▼ $13,518
Temporarily Rstr Net Assets$-389,893$-422,881▼ $32,988
Total Net Assets Fund Balance$2,577,780$2,604,794▲ $27,014
Total Liabilities and Net Assets / Fund Balance$2,804,091$2,753,465▼ $50,626

Asset Categories

AssetBook ValueDepreciationBasis
Other Land Buildings-$30,177$30,177

Endowment Activity

PeriodBeginningContrib.Gain/LossOther UsesEnd
2018$2,577,782$1,108,461▲ $167,691$1,070,362$2,604,796
2017$2,419,434$1,420,705▲ $286,494$1,301,275$2,577,782
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
Compensation and Service Providers

Employees

NameTitleFull / Part TimeBaseTotal
Kelly MagnusonFoundation MFT$92,682$92,682

Board Members and Trustees

NameTitle
Dr Steve MulderPresident
Colleen Thompson MichaelsDirector
Eric LipkeDirector
Erika KellenDirector
Jennifer LownsburyDirector
Joan ChristiansonDirector
Mark a OlsonDirector
Mary SeifertDirector
Rob HantgeDirector
Roger GauquieDirector
Shane JohnsonDirector
Karen LangmoTreasurer/se
Diane KnorrVice Preside
Revenue and Support

Revenue Composition

Contributions and Grants
$1,107,620
Program Service Revenue
$0
Investment Income
$128,331
Other Revenue
$841
All Other Contributions
$1,107,620
Change in Net Assets
$-38,575

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 Table40$384,197
Other Non Cash Contri Table1$67,748
Cars and Other Vehicles12$20,737
Other Non Cash Contri Table1$6,500
Other Non Cash Contri Table1$3,500
Total Noncash Contributions55$482,682

Audited Revenue Reconciliation

Revenue per Audited Statements
$1,236,792
Revenue Not Reported on Form 990
$65,589
Total Revenue per Audited Statements
$1,302,381
Total Revenue per Form 990
$1,236,792
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Grants and Similar Amounts Paid$1,033,858
Salaries, Compensation, and Employee Benefits$164,688
Other Expenses$76,821
Total Fundraising Expense$36,504
Professional Fundraising Fees$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Grants to Domestic Orgs$1,033,858--$1,033,858
Current Officers, Directors, Trustees, and Key Employees-$80,978$24,163$105,141
Other Salaries and Wages-$59,547-$59,547
Fees for Services Other-$25,979-$25,979
Advertising--$8,216$8,216
Occupancy-$6,500-$6,500
Travel-$2,891$1,513$4,404
Office Expenses-$2,881-$2,881
Other Expenses-$26,229$2,612$2,612
Total Functional Expenses$1,033,858$205,005$36,504$1,275,367

Audited Expense Reconciliation

Line ItemAmount
Expenses per Audited Statements$1,275,367
Total Expenses per Audited Statements$1,275,367
Total Expenses per Form 990$1,275,367
International Activity

Grant and Assistance Recipients

RecipientLocationCategoryPurposeAmount
Ridgewater CollegeWillmar, MN-Scholarships to Stud$628,924
Fundraising, Events, and Gaming
Fundraising activities
No
Gaming activities
No
Professional fundraiser used
No

Fundraising and Gaming Totals

Line ItemAmount
Fundraising Gross Income$951
Fundraising Direct Expenses$110
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
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
Dr Steve Mulder
Title
President
Phone
3202226095
Signed
2019-08-26

Organization Details

Principal Officer
Dr Steve Mulder
Legal Domicile
Mn
Voting Board Members
13
Independent Board Members
13
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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IRS990/OperateHospitalInd0false
IRS990/Organization501c3Ind0X
IRS990/OrganizationFollowsSFAS117Ind0X
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IRS990/OtherExpensesGrp/Desc1EVENT EXPENSE
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IRS990/PartialLiquidationInd0false
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IRS990/PrincipalOfficerNm0DR STEVE MULDER
IRS990/ProfessionalFundraisingInd0false
IRS990/ProgSrvcAccomActy2Grp/Desc0SPECIAL PROJECTS - FUNDING GRANTED TO VARIOUS DEPARTMENTS OF RIDGEWATER COLLEGE TO ASSIST IN DEVELOPING CREATIVE PROJECTS OR PURCHASE EQUIPMENT DESIGNED TO ADVANCE THE COLLEGE MISSION.
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IRS990ScheduleA/Form990ScheduleAPartVIGrp/ExplanationTxt0SPECIAL EVENT INCOME 52,001
IRS990ScheduleA/Form990ScheduleAPartVIGrp/FormAndLineReferenceDesc0PART II, LINE 10
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IRS990ScheduleA/GrossReceiptsRltdActivitiesAmt013540
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IRS990ScheduleA/OtherIncome170Grp/CurrentTaxYearMinus1YearAmt05196
IRS990ScheduleA/OtherIncome170Grp/CurrentTaxYearMinus2YearsAmt021410
IRS990ScheduleA/OtherIncome170Grp/CurrentTaxYearMinus3YearsAmt013127
IRS990ScheduleA/OtherIncome170Grp/CurrentTaxYearMinus4YearsAmt011427
IRS990ScheduleA/OtherIncome170Grp/TotalAmt052001
IRS990ScheduleA/PublicSupportCY170Pct00.95230
IRS990ScheduleA/PublicSupportPY170Pct00.94940
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IRS990ScheduleA/ThirtyThrPctSuprtTestsCY170Ind0X
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IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearMinus1YearAmt01415509
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IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearMinus4YearsAmt0954128
IRS990ScheduleA/TotalCalendarYear170Grp/TotalAmt06261360
IRS990ScheduleA/TotalSupportAmt06574856
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IRS990ScheduleD/CYEndwmtFundGrp/ContributionsAmt01108461
IRS990ScheduleD/CYEndwmtFundGrp/EndYearBalanceAmt02604796
IRS990ScheduleD/CYEndwmtFundGrp/InvestmentEarningsOrLossesAmt0167691
IRS990ScheduleD/CYEndwmtFundGrp/OtherExpendituresAmt01070362
IRS990ScheduleD/CYMinus1YrEndwmtFundGrp/AdministrativeExpensesAmt0247576
IRS990ScheduleD/CYMinus1YrEndwmtFundGrp/BeginningYearBalanceAmt02419434
IRS990ScheduleD/CYMinus1YrEndwmtFundGrp/ContributionsAmt01420705
IRS990ScheduleD/CYMinus1YrEndwmtFundGrp/EndYearBalanceAmt02577782
IRS990ScheduleD/CYMinus1YrEndwmtFundGrp/InvestmentEarningsOrLossesAmt0286494
IRS990ScheduleD/CYMinus1YrEndwmtFundGrp/OtherExpendituresAmt01301275
IRS990ScheduleD/CYMinus2YrEndwmtFundGrp/AdministrativeExpensesAmt0231336
IRS990ScheduleD/CYMinus2YrEndwmtFundGrp/BeginningYearBalanceAmt02150863
IRS990ScheduleD/CYMinus2YrEndwmtFundGrp/ContributionsAmt01720446
IRS990ScheduleD/CYMinus2YrEndwmtFundGrp/EndYearBalanceAmt02419434
IRS990ScheduleD/CYMinus2YrEndwmtFundGrp/InvestmentEarningsOrLossesAmt0332219
IRS990ScheduleD/CYMinus2YrEndwmtFundGrp/OtherExpendituresAmt01552758
IRS990ScheduleD/CYMinus3YrEndwmtFundGrp/AdministrativeExpensesAmt0222876
IRS990ScheduleD/CYMinus3YrEndwmtFundGrp/BeginningYearBalanceAmt02362985
IRS990ScheduleD/CYMinus3YrEndwmtFundGrp/ContributionsAmt01098194
IRS990ScheduleD/CYMinus3YrEndwmtFundGrp/EndYearBalanceAmt02150863
IRS990ScheduleD/CYMinus3YrEndwmtFundGrp/InvestmentEarningsOrLossesAmt0-72410
IRS990ScheduleD/CYMinus3YrEndwmtFundGrp/OtherExpendituresAmt01015030
IRS990ScheduleD/CYMinus4YrEndwmtFundGrp/AdministrativeExpensesAmt0217533
IRS990ScheduleD/CYMinus4YrEndwmtFundGrp/BeginningYearBalanceAmt02522348
IRS990ScheduleD/CYMinus4YrEndwmtFundGrp/ContributionsAmt0965554
IRS990ScheduleD/CYMinus4YrEndwmtFundGrp/EndYearBalanceAmt02362985
IRS990ScheduleD/CYMinus4YrEndwmtFundGrp/InvestmentEarningsOrLossesAmt070460
IRS990ScheduleD/CYMinus4YrEndwmtFundGrp/OtherExpendituresAmt0977844
IRS990ScheduleD/EndowmentsHeldRelatedOrgInd0false
IRS990ScheduleD/EndowmentsHeldUnrelatedOrgInd0false
IRS990ScheduleD/ExpensesSubtotalAmt01275367
IRS990ScheduleD/NetUnrealizedGainsInvstAmt065589
IRS990ScheduleD/OtherLandBuildingsGrp/DepreciationAmt030177
IRS990ScheduleD/OtherLandBuildingsGrp/OtherCostOrOtherBasisAmt030177
IRS990ScheduleD/RevenueNotReportedAmt065589
IRS990ScheduleD/RevenueSubtotalAmt01236792
IRS990ScheduleD/TotalExpensesPerForm990Amt01275367
IRS990ScheduleD/TotalRevenuePerForm990Amt01236792
IRS990ScheduleD/TotalRevEtcAuditedFinclStmtAmt01302381
IRS990ScheduleD/TotExpnsEtcAuditedFinclStmtAmt01275367
IRS990ScheduleI/GrantRecordsMaintainedInd0false
IRS990ScheduleI/RecipientTable/CashGrantAmt0628924
IRS990ScheduleI/RecipientTable/NonCashAssistanceAmt0404934
IRS990ScheduleI/RecipientTable/NonCashAssistanceDesc0DONATED AUTOS
IRS990ScheduleI/RecipientTable/PurposeOfGrantTxt0SCHOLARSHIPS TO STUD
IRS990ScheduleI/RecipientTable/RecipientBusinessName/BusinessNameLine1Txt0RIDGEWATER COLLEGE
IRS990ScheduleI/RecipientTable/RecipientEIN0411687554
IRS990ScheduleI/RecipientTable/USAddress/AddressLine1Txt02101 15TH AVE NW
IRS990ScheduleI/RecipientTable/USAddress/CityNm0WILLMAR
IRS990ScheduleI/RecipientTable/USAddress/StateAbbreviationCd0MN
IRS990ScheduleI/RecipientTable/USAddress/ZIPCd056201
IRS990ScheduleI/RecipientTable/ValuationMethodUsedDesc0FMV
IRS990/ScheduleJRequiredInd0false
IRS990ScheduleM/AnyPropertyThatMustBeHeldInd0false
IRS990ScheduleM/CarsAndOtherVehiclesGrp/ContributionCnt012
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IRS990ScheduleM/OtherNonCashContriTableGrp/ContributionCnt040
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IRS990ScheduleM/OtherNonCashContriTableGrp/ContributionCnt31
IRS990ScheduleM/OtherNonCashContriTableGrp/Desc0GIFT-IN-KIND
IRS990ScheduleM/OtherNonCashContriTableGrp/Desc1SALARY
IRS990ScheduleM/OtherNonCashContriTableGrp/Desc2RENT
IRS990ScheduleM/OtherNonCashContriTableGrp/Desc3SOFTWARE
IRS990ScheduleM/OtherNonCashContriTableGrp/NonCashCheckboxInd0X
IRS990ScheduleM/OtherNonCashContriTableGrp/NonCashCheckboxInd1X
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IRS990ScheduleM/OtherNonCashContriTableGrp/NonCashCheckboxInd3X
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IRS990ScheduleM/OtherNonCashContriTableGrp/NoncashContributionsRptF990Amt167748
IRS990ScheduleM/OtherNonCashContriTableGrp/NoncashContributionsRptF990Amt26500
IRS990ScheduleM/OtherNonCashContriTableGrp/NoncashContributionsRptF990Amt33500
IRS990ScheduleM/ReviewProcessUnusualNCGiftsInd0false
IRS990ScheduleM/ThirdPartiesUsedInd0false
IRS990/ScheduleORequiredInd0true
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0TO 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.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1ORGANIZATION HAS A BOARD OF DIRECTORS
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2BOARD MEMBERS NOMINATE INDIVIDUALS TO FILL VACANCIES ON THE BOARD AND THE BOARD VOTES TO APPROVE NEW MEMBERS.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3A COPY OF THE 990 IS GIVEN TO THE BOARD TO READ AND APPROVE.

Document Assets

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Filings

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