Civic Intelligence

Ridgewater College Foundation

990 • Fiscal year 2021 • EIN 41-1847315

Jul 01, 2020 to Jun 30, 2021 • Filed on Dec 15, 2021

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

46th percentile

0.05x

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

2021 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2021

Liabilities / Revenue

54th percentile

0.11x

Higher debt load relative to revenue than 54% of similar nonprofits.

2021 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2021

Net Margin

43rd percentile

8.9%

Higher net margin than 43% of similar nonprofits.

2021 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2021

Top Officer Pay

78th percentile

$121,366

Higher top officer pay than 78% of similar nonprofits.

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

2021 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2021

Asset Growth

78th percentile

31%

Faster asset growth than 78% of similar nonprofits.

2021 filings • 501(c)3 • $1M-$5M nonprofits • Annualized from 2020 to 2021

Revenue Growth

45th percentile

7.9%

Faster revenue growth than 45% of similar nonprofits.

2021 filings • 501(c)3 • $1M-$5M nonprofits • Annualized from 2020 to 2021

Balance Sheet
Liabilities / Assets46th percentile

Assets

Up

$3,638,599

Up $863,463 (+31%) from 2020

Net Assets

Up

$3,453,971

Up $846,315 (+32%) from 2020

Liabilities

Up

$184,628

Up $17,148 (+10%) from 2020

Revenue And Expenses
Liabilities / Revenue54th percentileNet Margin43rd percentile

Revenue

Up

$1,607,575

Up $118,245 (+7.9%) from 2020

Expenses

Down

$1,463,822

Down $27,256 (-1.8%) from 2020

Net Income

Up

$143,753

Up $145,501 (+8324%) from 2020

Historical Trend

Balance Sheet Trend

Asset Growth78th 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

2021

Assets$3,638,599
Liabilities$184,628
Net Assets$3,453,971
Open 2021 Filing

Operations Trend

Revenue Growth45th 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

2021

Revenue$1,607,575
Expenses$1,463,822
Net Income$143,753
Open 2021 Filing
Jump To
Filing Snapshot
Filing Period
Jul 1, 2020 to Jun 30, 2021
Signed
Dec 15, 2021
Return Version
2020v4.0
Gross Receipts
$2,178,831
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$2,643,100$3,568,041▲ $924,941
Savings and Temporary Cash Investments$100,656$47,344▼ $53,312
Pledges and Grants Receivable$22,833$14,667▼ $8,166
Total Assets$2,775,136$3,638,599▲ $863,463
Other Assets Total$8,547$8,547→ $0
Liabilities
Accounts Payable and Accrued Expenses$167,480$184,628▲ $17,148
Total Liabilities$167,480$184,628▲ $17,148
Net Assets / Fund Balance
Net Assets With Donor Restrictions$2,528,234$3,344,423▲ $816,189
Net Assets Without Donor Restrictions$79,422$109,548▲ $30,126
Total Net Assets Fund Balance$2,607,656$3,453,971▲ $846,315
Total Liabilities and Net Assets / Fund Balance$2,775,136$3,638,599▲ $863,463

Asset Categories

AssetBook ValueDepreciationBasis
Other Land Buildings-$21,122$21,122

Endowment Activity

PeriodBeginningContrib.Gain/LossOther UsesEnd
2020$2,421,534$121,067▲ $874,941$82,827$3,256,674
2019$2,462,883$809▲ $96,620$67,883$2,421,534
2018$2,384,210$73,520▲ $167,691$68,950$2,462,883
2017$2,242,991$77,845▲ $286,494$76,075$2,384,210
2016$2,076,422$2,778▲ $332,219$34,612$2,242,991
Compensation and Service Providers
Top Officer Pay78th percentile

Employees

NameTitleFull / Part TimeBaseOtherTotal
Kelly MagnusonFoundation MPT$30,342$91,024$121,366

Board Members and Trustees

NameTitle
Diane KnorrPresident
Beth GasserDirector
Colleen Thompson MichaelsDirector
Dr Mike WilliamsDirector
Eric LipkeDirector
Erika KellenDirector
James MillerDirector
Joe NelsonDirector
Mandy BaldryDirector
Rob HantgeDirector
Stu GiereDirector
Mark a OlsonTreasurer
Shane JohnsonVice Preside
Revenue and Support

Revenue Composition

Contributions and Grants
$1,403,611
Program Service Revenue
$0
Investment Income
$203,503
Other Revenue
$461
All Other Contributions
$1,309,874
Change in Net Assets
$143,753

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 Table47$509,510
Other Non Cash Contri Table1$148,136
Cars and Other Vehicles8$12,673
Other Non Cash Contri Table1$6,500
Other Non Cash Contri Table1$3,500
Total Noncash Contributions58$680,319

Audited Revenue Reconciliation

Revenue per Audited Statements
$1,607,575
Revenue Not Reported on Form 990
$702,562
Total Revenue per Audited Statements
$2,310,137
Total Revenue per Form 990
$1,607,575
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Grants and Similar Amounts Paid$1,200,992
Salaries, Compensation, and Employee Benefits$185,257
Other Expenses$77,573
Total Fundraising Expense$51,510
Professional Fundraising Fees$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Grants to Domestic Orgs$1,200,992--$1,200,992
Other Salaries and Wages-$113,294$34,842$148,136
Current Officers, Directors, Trustees, and Key Employees-$28,600$8,521$37,121
Other Expenses-$31,124-$31,124
Fees for Services Other-$26,881-$26,881
Advertising--$7,862$7,862
Occupancy-$6,500-$6,500
Office Expenses-$3,639-$3,639
Travel-$1,282$285$1,567
Total Functional Expenses$1,200,992$211,320$51,510$1,463,822

Audited Expense Reconciliation

Line ItemAmount
Expenses per Audited Statements$1,463,822
Total Expenses per Audited Statements$1,463,822
Total Expenses per Form 990$1,463,822
International Activity

Grant and Assistance Recipients

RecipientLocationCategoryPurposeAmount
Ridgewater CollegeWillmar, MN-Scholarships to Stud$678,809
Fundraising, Events, and Gaming
Fundraising activities
No
Gaming activities
No
Professional fundraiser used
No

Fundraising and Gaming Totals

Line ItemAmount
Fundraising Gross Income$461
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
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, 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
Diane Knorr
Title
President
Phone
3202226095
Signed
2021-12-15

Organization Details

Principal Officer
Diane Knorr
Legal Domicile
Mn
Voting Board Members
13
Independent Board Members
13
Employees
1

Preparer

Firm
Westberg-eischens Pllp
Address
PO BOX 362, WILLMAR, MN 56201-0362
Preparer
Kasey Nelson 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
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IRS990/OtherSalariesAndWagesGrp/ManagementAndGeneralAmt0113294
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IRS990/PoliticalCampaignActyInd0false
IRS990/PrincipalOfficerNm0DIANE KNORR
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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IRS990/ReportLandBuildingEquipmentInd0true
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IRS990/ReportOtherLiabilitiesInd0false
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IRS990ScheduleA/Form990ScheduleAPartVIGrp/ExplanationTxt0SPECIAL EVENT INCOME 27,941
IRS990ScheduleA/Form990ScheduleAPartVIGrp/FormAndLineReferenceDesc0PART II, LINE 10
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IRS990ScheduleA/GrossInvestmentIncome170Grp/CurrentTaxYearMinus3YearsAmt049022
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IRS990ScheduleA/GrossReceiptsRltdActivitiesAmt015466
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IRS990ScheduleA/OtherIncome170Grp/CurrentTaxYearMinus4YearsAmt021410
IRS990ScheduleA/OtherIncome170Grp/TotalAmt027941
IRS990ScheduleA/PublicSupportCY170Pct00.96050
IRS990ScheduleA/PublicSupportPY170Pct00.95770
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IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearMinus1YearAmt01370518
IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearMinus2YearsAmt01107620
IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearMinus3YearsAmt01415509
IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearMinus4YearsAmt01699036
IRS990ScheduleA/TotalCalendarYear170Grp/TotalAmt06996294
IRS990ScheduleA/TotalSupportAmt07284053
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IRS990ScheduleB/ContributorInformationGrp/ContributorNum0RESTRICTED
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IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/City0RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/State0RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/ZIPCode0RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/TotalContributionsAmt0RESTRICTED
IRS990/ScheduleBRequiredInd0true
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IRS990ScheduleD/CYEndwmtFundGrp/BeginningYearBalanceAmt02421534
IRS990ScheduleD/CYEndwmtFundGrp/ContributionsAmt0121067
IRS990ScheduleD/CYEndwmtFundGrp/EndYearBalanceAmt03256674
IRS990ScheduleD/CYEndwmtFundGrp/InvestmentEarningsOrLossesAmt0874941
IRS990ScheduleD/CYEndwmtFundGrp/OtherExpendituresAmt082827
IRS990ScheduleD/CYMinus1YrEndwmtFundGrp/AdministrativeExpensesAmt070895
IRS990ScheduleD/CYMinus1YrEndwmtFundGrp/BeginningYearBalanceAmt02462883
IRS990ScheduleD/CYMinus1YrEndwmtFundGrp/ContributionsAmt0809
IRS990ScheduleD/CYMinus1YrEndwmtFundGrp/EndYearBalanceAmt02421534
IRS990ScheduleD/CYMinus1YrEndwmtFundGrp/InvestmentEarningsOrLossesAmt096620
IRS990ScheduleD/CYMinus1YrEndwmtFundGrp/OtherExpendituresAmt067883
IRS990ScheduleD/CYMinus2YrEndwmtFundGrp/AdministrativeExpensesAmt093588
IRS990ScheduleD/CYMinus2YrEndwmtFundGrp/BeginningYearBalanceAmt02384210
IRS990ScheduleD/CYMinus2YrEndwmtFundGrp/ContributionsAmt073520
IRS990ScheduleD/CYMinus2YrEndwmtFundGrp/EndYearBalanceAmt02462883
IRS990ScheduleD/CYMinus2YrEndwmtFundGrp/InvestmentEarningsOrLossesAmt0167691
IRS990ScheduleD/CYMinus2YrEndwmtFundGrp/OtherExpendituresAmt068950
IRS990ScheduleD/CYMinus3YrEndwmtFundGrp/AdministrativeExpensesAmt0147045
IRS990ScheduleD/CYMinus3YrEndwmtFundGrp/BeginningYearBalanceAmt02242991
IRS990ScheduleD/CYMinus3YrEndwmtFundGrp/ContributionsAmt077845
IRS990ScheduleD/CYMinus3YrEndwmtFundGrp/EndYearBalanceAmt02384210
IRS990ScheduleD/CYMinus3YrEndwmtFundGrp/InvestmentEarningsOrLossesAmt0286494
IRS990ScheduleD/CYMinus3YrEndwmtFundGrp/OtherExpendituresAmt076075
IRS990ScheduleD/CYMinus4YrEndwmtFundGrp/AdministrativeExpensesAmt0133816
IRS990ScheduleD/CYMinus4YrEndwmtFundGrp/BeginningYearBalanceAmt02076422
IRS990ScheduleD/CYMinus4YrEndwmtFundGrp/ContributionsAmt02778
IRS990ScheduleD/CYMinus4YrEndwmtFundGrp/EndYearBalanceAmt02242991
IRS990ScheduleD/CYMinus4YrEndwmtFundGrp/InvestmentEarningsOrLossesAmt0332219
IRS990ScheduleD/CYMinus4YrEndwmtFundGrp/OtherExpendituresAmt034612
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IRS990ScheduleD/EndowmentsHeldUnrelatedOrgInd0false
IRS990ScheduleD/ExpensesSubtotalAmt01463822
IRS990ScheduleD/NetUnrealizedGainsInvstAmt0702562
IRS990ScheduleD/OtherLandBuildingsGrp/DepreciationAmt021122
IRS990ScheduleD/OtherLandBuildingsGrp/OtherCostOrOtherBasisAmt021122
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IRS990ScheduleD/RevenueSubtotalAmt01607575
IRS990ScheduleD/TotalExpensesPerForm990Amt01463822
IRS990ScheduleD/TotalRevenuePerForm990Amt01607575
IRS990ScheduleD/TotalRevEtcAuditedFinclStmtAmt02310137
IRS990ScheduleD/TotExpnsEtcAuditedFinclStmtAmt01463822
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IRS990ScheduleI/RecipientTable/NonCashAssistanceAmt0522183
IRS990ScheduleI/RecipientTable/NonCashAssistanceDesc0DONATED AUTOS
IRS990ScheduleI/RecipientTable/PurposeOfGrantTxt0SCHOLARSHIPS TO STUD
IRS990ScheduleI/RecipientTable/RecipientBusinessName/BusinessNameLine1Txt0RIDGEWATER COLLEGE
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IRS990ScheduleI/RecipientTable/USAddress/AddressLine1Txt02101 15TH AVE NW
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IRS990ScheduleI/RecipientTable/ValuationMethodUsedDesc0FMV
IRS990/ScheduleJRequiredInd0false
IRS990ScheduleM/AnyPropertyThatMustBeHeldInd0false
IRS990ScheduleM/CarsAndOtherVehiclesGrp/ContributionCnt08
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IRS990ScheduleM/OtherNonCashContriTableGrp/ContributionCnt047
IRS990ScheduleM/OtherNonCashContriTableGrp/ContributionCnt11
IRS990ScheduleM/OtherNonCashContriTableGrp/ContributionCnt21
IRS990ScheduleM/OtherNonCashContriTableGrp/ContributionCnt31
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IRS990ScheduleM/OtherNonCashContriTableGrp/Desc3SOFTWARE
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IRS990ScheduleM/OtherNonCashContriTableGrp/NonCashCheckboxInd3X
IRS990ScheduleM/OtherNonCashContriTableGrp/NoncashContributionsRptF990Amt0509510
IRS990ScheduleM/OtherNonCashContriTableGrp/NoncashContributionsRptF990Amt1148136

Document Assets

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Filings

Displayed year

2021 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$3,638,599
Liabilities
$184,628
Net assets
$3,453,971
Revenue
$1,607,575
Expenses
$1,463,822
Net income
$143,753
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
2021Detailed filing. Detailed filing data is available for this year.$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