Civic Intelligence

Albert Lea Public Education Foundation Inc.

990 • Fiscal year 2022 • EIN 41-1989284

Jan 01, 2022 to Dec 31, 2022 • Filed on May 12, 2023

Organization ProfileWWW.EFAL-US.ORG
PO Box 828Albert Lea, MN 56007

(507) 383-5357

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

55th percentile

9.6%

Higher net margin than 55% 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

23rd percentile

-8.2%

Faster asset growth than 23% of similar nonprofits.

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

Revenue Growth

75th percentile

33%

Faster revenue growth than 75% of similar nonprofits.

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

Balance Sheet
Liabilities / Assets17th percentile

Assets

Down

$3,007,622

Down $269,285 (-8.2%) from 2021

Net Assets

Down

$3,007,622

Down $269,285 (-8.2%) from 2021

Liabilities

Flat

$0

Flat from 2021

Revenue And Expenses
Liabilities / Revenue17th percentileNet Margin55th percentile

Revenue

Up

$192,398

Up $47,889 (+33%) from 2021

Expenses

Up

$173,886

Up $31,583 (+22%) from 2021

Net Income

Up

$18,512

Up $16,306 (+739%) from 2021

Historical Trend

Balance Sheet Trend

Asset Growth23rd percentile

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

$4.0M$3.0M$2.0M$1.0M$0Assets 2011: $663,460Liabilities 2011: $0Net Assets 2011: $663,4602011Assets 2012: $870,334Liabilities 2012: $17,091Net Assets 2012: $853,2432012Assets 2013: $1,172,918Liabilities 2013: $27,817Net Assets 2013: $1,145,1012013Assets 2014: $1,395,717Liabilities 2014: $42,721Net Assets 2014: $1,352,9962014Assets 2015: $1,362,386Liabilities 2015: $48,088Net Assets 2015: $1,314,2982015Assets 2016: $1,584,681Liabilities 2016: $49,461Net Assets 2016: $1,535,2202016Assets 2017: $2,093,447Liabilities 2017: $69,503Net Assets 2017: $2,023,9442017Assets 2018: $1,956,462Liabilities 2018: $0Net Assets 2018: $1,956,4622018Assets 2019: $2,583,004Liabilities 2019: $0Net Assets 2019: $2,583,0042019Assets 2020: $2,738,201Liabilities 2020: $0Net Assets 2020: $2,738,2012020Assets 2021: $3,276,907Liabilities 2021: $0Net Assets 2021: $3,276,9072021Assets 2022: $3,007,622Liabilities 2022: $0Net Assets 2022: $3,007,6222022Assets 2023: $3,204,324Liabilities 2023: $0Net Assets 2023: $3,204,3242023Assets 2024: $3,382,951Liabilities 2024: $0Net Assets 2024: $3,382,9512024

Highlighted filing

2022

Assets$3,007,622
Liabilities$0
Net Assets$3,007,622
Open 2022 Filing

Operations Trend

Revenue Growth75th percentile

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

$600K$400K$200K$0-$200KExpenses 2011: $38,3752011Expenses 2012: $108,5732012Revenue 2013: $210,365Expenses 2013: $58,278Net Income 2013: $152,0872013Revenue 2014: $228,184Expenses 2014: $70,300Net Income 2014: $157,8842014Revenue 2015: $66,749Expenses 2015: $88,275Net Income 2015: -$21,5262015Revenue 2016: $256,042Expenses 2016: $112,768Net Income 2016: $143,2742016Revenue 2017: $380,094Expenses 2017: $113,141Net Income 2017: $266,9532017Revenue 2018: $169,755Expenses 2018: $134,919Net Income 2018: $34,8362018Revenue 2019: $550,557Expenses 2019: $158,698Net Income 2019: $391,8592019Revenue 2020: $117,277Expenses 2020: $120,128Net Income 2020: -$2,8512020Revenue 2021: $144,509Expenses 2021: $142,303Net Income 2021: $2,2062021Revenue 2022: $192,398Expenses 2022: $173,886Net Income 2022: $18,5122022Revenue 2023: $93,491Expenses 2023: $155,526Net Income 2023: -$62,0352023Revenue 2024: $134,611Expenses 2024: $224,137Net Income 2024: -$89,5262024

Highlighted filing

2022

Revenue$192,398
Expenses$173,886
Net Income$18,512
Open 2022 Filing
Jump To
Filing Snapshot
Filing Period
Jan 1, 2022 to Dec 31, 2022
Signed
May 12, 2023
Return Version
2022v5.0
Gross Receipts
$192,398
Mission and Program Overview

Mission

To serve the students of district 241 by identifying educational needs and creating financial support through creating permanent endowments and developing funding for the creation and maintenance of new programs.

Balance Sheet Detail
LineBeginningEndChange
Assets
Investments in Publicly Traded Securities$2,907,042$2,626,425▼ $280,617
Cash and Non-Interest-Bearing Accounts$243,458$254,645▲ $11,187
Savings and Temporary Cash Investments$126,407$126,552▲ $145
Total Assets$3,276,907$3,007,622▼ $269,285
Liabilities
Total Liabilities$0$0→ $0
Net Assets / Fund Balance
Net Assets With Donor Restrictions$3,255,591$2,972,399▼ $283,192
Net Assets Without Donor Restrictions$21,316$35,223▲ $13,907
Total Net Assets Fund Balance$3,276,907$3,007,622▼ $269,285
Total Liabilities and Net Assets / Fund Balance$3,276,907$3,007,622▼ $269,285
Compensation and Service Providers
Top Officer Pay39th percentile

Board Members and Trustees

NameTitle
Neal SkaarChair
Brad KirchnerPast Chair
Kim NelsonVice Chair
Dan DormanDirector
David FrameDirector
Janelle KoepkeDirector
Jerry NelsonDirector
Jessica HatlandDirector
Mike PetersonDirector
Robert RoweDirector
Abby LeachSecretary
Steve TufteTreasurer
Revenue and Support

Revenue Composition

Contributions and Grants
$167,307
Program Service Revenue
$0
Investment Income
$25,091
Other Revenue
$0
All Other Contributions
$167,307
Change in Net Assets
$18,512
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Grants and Similar Amounts Paid$138,226
Other Expenses$35,660
Professional Fundraising Fees$0
Salaries, Compensation, and Employee Benefits$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Grants to Domestic Individuals$90,300--$90,300
Grants to Domestic Orgs$47,926--$47,926
Fees for Service Investment Mgmnt Fees$7,478$7,477$0$14,955
Other Expenses$5,725$0$0$5,725
Fees for Services Accounting$0$4,028$0$4,028
Fees for Services Other$0$3,500$0$3,500
Insurance$0$856$0$856
Office Expenses$0$573$0$573
Advertising$0$40$0$40
Total Functional Expenses$157,100$16,786$0$173,886
Fundraising, Events, and Gaming
Fundraising activities
No
Gaming activities
No
Professional fundraiser used
No

Fundraising and Gaming Totals

Line ItemAmount
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
Yes
Audit committee
No
Backup withholding compliance
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
No
Audited financial statements prepared
No
Key decisions subject to board approval
No
Management duties delegated
No
Filing and Contact Details

Filer

Filer Name
Albert Lea Public Education Foundation
EIN
41-1989284
Phone
5073835357
Address
PO BOX 828, ALBERT LEA, MN 56007

Signing Officer

Name
Neal Skaar
Title
President
Phone
5073835357
Signed
2023-05-12
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Neal Skaar
Formed
2000
Legal Domicile
Mn
Voting Board Members
12
Independent Board Members
12
Employees
0
Volunteers
12

Preparer

Firm
Honstad Dieser & Mangskau P L L P
Address
135 S Broadway Ave, Albert Lea, MN 56007
Preparer
Kelly Montanye
Phone
5073732451
Supplemental Narrative

Additional Explanations

Pt VI, Line 11B

“Form 990 is available to review prior to signing and filing of the return. An official review will not be conducted.”

Pt VI, Line 19

“Governing documents and financial information is available upon request.”

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IRS990ScheduleA/GrossInvestmentIncome170Grp/CurrentTaxYearMinus2YearsAmt035873
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ReturnHeader/PreparerFirmGrp/PreparerUSAddress/ZIPCd056007
ReturnHeader/PreparerPersonGrp/PhoneNum05073732451
ReturnHeader/PreparerPersonGrp/PreparationDt02023-08-04
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ReturnHeader/ReturnTs02023-08-04T10:01:48-07:00
ReturnHeader/ReturnTypeCd0990
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ReturnHeader/TaxPeriodBeginDt02022-01-01
ReturnHeader/TaxPeriodEndDt02022-12-31
ReturnHeader/TaxYr02022

Document Assets

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Filings

Displayed year

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

Open filing
Assets
$3,007,622
Liabilities
$0
Net assets
$3,007,622
Revenue
$192,398
Expenses
$173,886
Net income
$18,512
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Facts available. Structured filing facts are available, but richer extracted sections are limited.$3.38$0.00$3.38$0.13$0.22$0.09
2023Summary only. Only limited summary data is available for this year.$3.20$0.00$3.20$0.09$0.16$0.06
2022Detailed filing. Detailed filing data is available for this year.$3.01$0.00$3.01$0.19$0.17$0.02
2021XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$3.28$0.00$3.28$0.14$0.14$0.00
2020XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$2.74$0.00$2.74$0.12$0.12$0.00
2019XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$2.58$0.00$2.58$0.55$0.16$0.39
2018XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$1.96$0.00$1.96$0.17$0.13$0.03
2017XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$2.09$0.07$2.02$0.38$0.11$0.27
2016Facts available. Structured filing facts are available, but richer extracted sections are limited.$1.58$0.05$1.54$0.26$0.11$0.14
2015Detailed filing. Detailed filing data is available for this year.$1.36$0.05$1.31$0.07$0.09$0.02
2014Detailed filing. Detailed filing data is available for this year.$1.40$0.04$1.35$0.23$0.07$0.16
2013Detailed filing. Detailed filing data is available for this year.$1.17$0.03$1.15$0.21$0.06$0.15
2012Facts available. Structured filing facts are available, but richer extracted sections are limited.$0.87$0.02$0.85$0.11
2011Facts available. Structured filing facts are available, but richer extracted sections are limited.$0.66$0.00$0.66$0.04