Civic Intelligence

Traverse Des Sioux Library System

990 • Fiscal year 2023 • EIN 41-6173688

Jan 01, 2023 to Dec 31, 2023 • Filed on May 10, 2024

Organization ProfileWWW.TDSLIB.ORG
1400 Madison Ave Ste 628Mankato, MN 56001

(507) 625-6169

Siviq Scores

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

Liabilities / Assets

71st percentile

0.25x

Higher debt load relative to assets than 71% of similar nonprofits.

2023 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2023

Liabilities / Revenue

77th percentile

0.39x

Higher debt load relative to revenue than 77% of similar nonprofits.

2023 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2023

Net Margin

74th percentile

20%

Higher net margin than 74% of similar nonprofits.

2023 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2023

Top Officer Pay

74th percentile

$116,075

Higher top officer pay than 74% of similar nonprofits.

Top officer pay equals 5.6% of source-year revenue.

2023 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2023

Asset Growth

61st percentile

8.9%

Faster asset growth than 61% of similar nonprofits.

2023 filings • 501(c)3 • $1M-$5M nonprofits • Annualized from 2022 to 2023

Revenue Growth

63rd percentile

16%

Faster revenue growth than 63% of similar nonprofits.

2023 filings • 501(c)3 • $1M-$5M nonprofits • Annualized from 2022 to 2023

Balance Sheet
Liabilities / Assets71st percentile

Assets

Up

$3,271,167

Up $268,659 (+8.9%) from 2022

Net Assets

Up

$2,448,279

Up $456,828 (+23%) from 2022

Liabilities

Down

$822,888

Down $188,169 (-19%) from 2022

Revenue And Expenses
Liabilities / Revenue77th percentileNet Margin74th percentile

Revenue

Up

$2,088,870

Up $293,426 (+16%) from 2022

Expenses

Down

$1,672,998

Down $70,693 (-4.1%) from 2022

Net Income

Up

$415,872

Up $364,119 (+704%) from 2022

Historical Trend

Balance Sheet Trend

Asset Growth61st percentile

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

$4.0M$3.0M$2.0M$1.0M$0Assets 2014: $2,462,312Liabilities 2014: $216,436Net Assets 2014: $2,245,8762014Assets 2016: $2,253,231Liabilities 2016: $283,726Net Assets 2016: $1,969,5052016Assets 2017: $2,634,631Liabilities 2017: $917,798Net Assets 2017: $1,716,8332017Assets 2018: $2,016,293Liabilities 2018: $720,648Net Assets 2018: $1,295,6452018Assets 2019: $1,987,078Liabilities 2019: $642,767Net Assets 2019: $1,344,3112019Assets 2020: $2,185,197Liabilities 2020: $653,510Net Assets 2020: $1,531,6872020Assets 2021: $2,660,505Liabilities 2021: $720,807Net Assets 2021: $1,939,6982021Assets 2022: $3,002,508Liabilities 2022: $1,011,057Net Assets 2022: $1,991,4512022Assets 2023: $3,271,167Liabilities 2023: $822,888Net Assets 2023: $2,448,2792023Assets 2024: $3,061,265Liabilities 2024: $1,034,453Net Assets 2024: $2,026,8122024

Highlighted filing

2023

Assets$3,271,167
Liabilities$822,888
Net Assets$2,448,279
Open 2023 Filing

Operations Trend

Revenue Growth63rd percentile

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

$3.0M$2.0M$1.0M$0-$1.0MRevenue 2014: $1,595,397Expenses 2014: $1,690,138Net Income 2014: -$94,7412014Revenue 2016: $1,482,526Expenses 2016: $1,610,875Net Income 2016: -$128,3492016Revenue 2017: $1,551,978Expenses 2017: $1,544,856Net Income 2017: $7,1222017Revenue 2018: $1,418,211Expenses 2018: $1,839,399Net Income 2018: -$421,1882018Revenue 2019: $1,537,708Expenses 2019: $1,499,308Net Income 2019: $38,4002019Revenue 2020: $1,496,907Expenses 2020: $1,315,238Net Income 2020: $181,6692020Revenue 2021: $1,793,930Expenses 2021: $1,385,919Net Income 2021: $408,0112021Revenue 2022: $1,795,444Expenses 2022: $1,743,691Net Income 2022: $51,7532022Revenue 2023: $2,088,870Expenses 2023: $1,672,998Net Income 2023: $415,8722023Revenue 2024: $347,549Expenses 2024: $772,678Net Income 2024: -$425,1292024

Highlighted filing

2023

Revenue$2,088,870
Expenses$1,672,998
Net Income$415,872
Open 2023 Filing
Jump To
Filing Snapshot
Filing Period
Jan 1, 2023 to Dec 31, 2023
Signed
May 10, 2024
Return Version
2023v5.0
Gross Receipts
$2,088,870
Mission and Program Overview

Mission

The traverse des sioux library cooperative strengthens, improves, and promotes collaboration by providing support services and coordinating shared access to resources, programs, and technologies for member libraries.

See page 2, part iii, line 1

Balance Sheet Detail
LineBeginningEndChange
Assets
Savings and Temporary Cash Investments$645,510$1,856,744▲ $1,211,234
Other Notes and Loans Receivable, Net$463,678$815,839▲ $352,161
Cash and Non-Interest-Bearing Accounts$1,326,279$188,430▼ $1,137,849
Land, Buildings, and Equipment, Net$81,370$120,559▲ $39,189
Inventories for Sale or Use$89,252--
Prepaid Expenses and Deferred Charges$29,187$40,685▲ $11,498
Total Assets$3,002,508$3,271,167▲ $268,659
Other Assets Total$367,232$248,910▼ $118,322
Liabilities
Other Liabilities$782,759$646,702▼ $136,057
Accounts Payable and Accrued Expenses$228,298$176,186▼ $52,112
Total Liabilities$1,011,057$822,888▼ $188,169
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$1,991,451$2,448,279▲ $456,828
Total Net Assets Fund Balance$1,991,451$2,448,279▲ $456,828
Total Liabilities and Net Assets / Fund Balance$3,002,508$3,271,167▲ $268,659

Asset Categories

AssetBook ValueDepreciationBasis
Leasehold Improvements$34,873$92,994$127,867
Other Land Buildings$43,598$60,121$103,719
Equipment$42,088$52,890$94,978
Other Assets Org$248,910--
Compensation and Service Providers
Top Officer Pay74th percentile

Employees

NameTitleFull / Part TimeBaseOtherTotal
Seth EricksonLibrary SystFT$109,111$6,964$116,075

Board Members and Trustees

NameTitle
Vance StruehrenbergPresident
Amy LorenzBoard Member
Carl ZeidlerBoard Member
Christian LilienthalBoard Member
Glenda ArndtBoard Member
Heather BiedermannBoard Member
John RoperBoard Member
Kelly McbrideBoard Member
Rev Brian SchanilBoard Member
Elizabeth TraxlerSecretary
Jack KolarsTreasurer
Steve FlohrsVice Preside
Revenue and Support

Revenue Composition

Contributions and Grants
$1,507,712
Program Service Revenue
$495,375
Investment Income
$85,783
Other Revenue
$0
Change in Net Assets
$415,872

Audited Revenue Reconciliation

Revenue per Audited Statements
$2,088,870
Revenue Not Reported on Form 990
$5,782
Total Revenue per Audited Statements
$2,094,652
Total Revenue per Form 990
$2,088,870
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$953,452
Salaries, Compensation, and Employee Benefits$719,546
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages$452,808$50,312-$503,120
Fees for Services Other$381,615--$381,615
Other Employee Benefits$102,884$11,431-$114,315
Information Technology$90,953$9,776-$100,729
Depreciation Depletion$61,887$6,877-$68,764
Pension Plan Contributions$57,007$6,334-$63,341
Payroll Taxes$34,893$3,877-$38,770
Occupancy$21,382$2,375-$23,757
All Other Expenses$13,694$1,746-$15,440
Other Expenses$12,227--$12,227
Fees for Services Accounting$9,711$1,079-$10,790
Travel$8,571--$8,571
Office Expenses$5,344$594-$5,938
Fees for Services Legal$2,360$262-$2,622
Total Functional Expenses$1,578,335$94,663$0$1,672,998

Audited Expense Reconciliation

Line ItemAmount
Expenses per Audited Statements$1,672,998
Total Expenses per Audited Statements$1,672,998
Total Expenses per Form 990$1,672,998
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
Debt and Bond Financing

Other Reported Liabilities

LiabilityAmount
Net Pension Liability$363,473
Amounts Deferred for Pensions$247,555
Lease Obligation$35,674
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
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
Yes
Other officer compensation reviewed
Yes
Conflict-of-interest policy
No
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 11B

“The executive director meets with the board to review the 990 at its first meeting after the return is filed.”

Form 990, Page 6, Part VI, Line 15A

“Executive director pay is approved by the board on an annual basis. The board is not paid.”

Form 990, Page 6, Part VI, Line 15B

“Key employee pay is approved by the board on an annual basis.”

Form 990, Page 6, Part VI, Line 19

“The organization's governing documents are available upon request; however, no request was made in the current year.”

Filing and Contact Details

Filer

Filer Name
Traverse Des Sioux Library System
EIN
41-6173688
Phone
5076256169
Address
1400 MADISON AVE STE 628, MANKATO, MN 56001

Signing Officer

Name
Vance Struehrenberg
Title
President
Phone
5076256169
Signed
2024-05-10
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Vance Struehrenberg
Formed
2014
Legal Domicile
Mn
Voting Board Members
12
Independent Board Members
12
Employees
10

Preparer

Firm
Burkhardt & Burkhardt Ltd
Address
35 OAK AVE N BOX N, ANNANDALE, MN 55302-0139
Preparer
Jeffrey Burkhardt
Phone
3202741040
Supplemental Narrative

Additional Explanations

FORM 990 - ORGANIZATION'S MISSION

“The traverse des sioux library cooperative strengthens, improves, and promotes collaboration by providing support services and coordinating shared access to resources, programs, and technologies for member libraries.”

Form 990, Part IX, Line 11G

“Courier costs 148,270 0 0 telecom services 119,740 0 0 automation system 113,605 0 0 total 381,615 0 0”

Financial Statement Notes

Schedule D, Page 4, Part XIII

“Traverse des sioux library cooperative (tds) is organized as a minnesota nonprofit corporation and is recognized by the internal revenue service (irs) as exempt from income taxes under section 501(c)(3) of the internal revenue code. In addition, tds has been determined by the internal revenue service not to be a private foundation within the meaning of section 509(a) of the internal revenue code and qualifies for the charitable contribution deduction under section 170(b)(i)(a)(vi). Tds is annually required to file a return of organization exempt from income tax (form 990) with the irs. In addition, tds is subject to income tax on net income that is derived from business activities unrelated to its exempt purposes. Management has determined that tds is not subjected to unrelated business income tax and has not filed an exempt organization business income return (form 990-t) with the irs. The organization's policy is to recognize interest expense and penalties related to income tax matters within its provision for income taxes. Management of the organization believes there is appropriate support for any tax positions taken affecting its annual filing requirements, and as such, does not have any uncertain tax positions that are material to the financial statements.”

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IRS990/OtherExpensesGrp/Desc1LIBRARY COLLECTIONS
IRS990/OtherExpensesGrp/Desc2BATTLE OF THE BOOKS
IRS990/OtherExpensesGrp/Desc3STAFF TRAINING
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IRS990/SavingsAndTempCashInvstGrp/EOYAmt01856744
IRS990ScheduleA/Form990ScheduleAPartVIGrp/ExplanationTxt0OTHER INCOME 0
IRS990ScheduleA/Form990ScheduleAPartVIGrp/FormAndLineReferenceDesc0PART II, LINE 10
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IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/TotalAmt06005165
IRS990ScheduleA/GrossInvestmentIncome170Grp/CurrentTaxYearAmt077111
IRS990ScheduleA/GrossInvestmentIncome170Grp/CurrentTaxYearMinus1YearAmt01474
IRS990ScheduleA/GrossInvestmentIncome170Grp/CurrentTaxYearMinus2YearsAmt0190
IRS990ScheduleA/GrossInvestmentIncome170Grp/CurrentTaxYearMinus3YearsAmt014081
IRS990ScheduleA/GrossInvestmentIncome170Grp/CurrentTaxYearMinus4YearsAmt014639
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IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc0NET PENSION LIABILITY
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc1AMOUNTS DEFERRED FOR PENSIONS
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc2LEASE OBLIGATION
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IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt0TRAVERSE DES SIOUX LIBRARY COOPERATIVE (TDS) IS ORGANIZED AS A MINNESOTA NONPROFIT CORPORATION AND IS RECOGNIZED BY THE INTERNAL REVENUE SERVICE (IRS) AS EXEMPT FROM INCOME TAXES UNDER SECTION 501(C)(3) OF THE INTERNAL REVENUE CODE. IN ADDITION, TDS HAS BEEN DETERMINED BY THE INTERNAL REVENUE SERVICE NOT TO BE A PRIVATE FOUNDATION WITHIN THE MEANING OF SECTION 509(A) OF THE INTERNAL REVENUE CODE AND QUALIFIES FOR THE CHARITABLE CONTRIBUTION DEDUCTION UNDER SECTION 170(B)(I)(A)(VI). TDS IS ANNUALLY REQUIRED TO FILE A RETURN OF ORGANIZATION EXEMPT FROM INCOME TAX (FORM 990) WITH THE IRS. IN ADDITION, TDS IS SUBJECT TO INCOME TAX ON NET INCOME THAT IS DERIVED FROM BUSINESS ACTIVITIES UNRELATED TO ITS EXEMPT PURPOSES. MANAGEMENT HAS DETERMINED THAT TDS IS NOT SUBJECTED TO UNRELATED BUSINESS INCOME TAX AND HAS NOT FILED AN EXEMPT ORGANIZATION BUSINESS INCOME RETURN (FORM 990-T) WITH THE IRS. THE ORGANIZATION'S POLICY IS TO RECOGNIZE INTEREST EXPENSE AND PENALTIES RELATED TO INCOME TAX MATTERS WITHIN ITS PROVISION FOR INCOME TAXES. MANAGEMENT OF THE ORGANIZATION BELIEVES THERE IS APPROPRIATE SUPPORT FOR ANY TAX POSITIONS TAKEN AFFECTING ITS ANNUAL FILING REQUIREMENTS, AND AS SUCH, DOES NOT HAVE ANY UNCERTAIN TAX POSITIONS THAT ARE MATERIAL TO THE FINANCIAL STATEMENTS.
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc0SCHEDULE D, PAGE 4, PART XIII
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IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0THE TRAVERSE DES SIOUX LIBRARY COOPERATIVE STRENGTHENS, IMPROVES, AND PROMOTES COLLABORATION BY PROVIDING SUPPORT SERVICES AND COORDINATING SHARED ACCESS TO RESOURCES, PROGRAMS, AND TECHNOLOGIES FOR MEMBER LIBRARIES.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1THE EXECUTIVE DIRECTOR MEETS WITH THE BOARD TO REVIEW THE 990 AT ITS FIRST MEETING AFTER THE RETURN IS FILED.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2EXECUTIVE DIRECTOR PAY IS APPROVED BY THE BOARD ON AN ANNUAL BASIS. THE BOARD IS NOT PAID.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3KEY EMPLOYEE PAY IS APPROVED BY THE BOARD ON AN ANNUAL BASIS.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt4THE ORGANIZATION'S GOVERNING DOCUMENTS ARE AVAILABLE UPON REQUEST; HOWEVER, NO REQUEST WAS MADE IN THE CURRENT YEAR.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt5COURIER COSTS 148,270 0 0 TELECOM SERVICES 119,740 0 0 AUTOMATION SYSTEM 113,605 0 0 TOTAL 381,615 0 0
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0FORM 990 - ORGANIZATION'S MISSION
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1FORM 990, PAGE 6, PART VI, LINE 11B
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2FORM 990, PAGE 6, PART VI, LINE 15A
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3FORM 990, PAGE 6, PART VI, LINE 15B
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc4FORM 990, PAGE 6, PART VI, LINE 19
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc5FORM 990, PART IX, LINE 11G
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IRS990/TotalLiabilitiesGrp/BOYAmt01011057

Document Assets

No mirrored PDF or thumbnail assets are attached yet.

Filings

Displayed year

2023 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$3,271,167
Liabilities
$822,888
Net assets
$2,448,279
Revenue
$2,088,870
Expenses
$1,672,998
Net income
$415,872
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Detailed filing. Detailed filing data is available for this year.$3.06$1.03$2.03$0.35$0.77$0.43
2023Detailed filing. Detailed filing data is available for this year.$3.27$0.82$2.45$2.09$1.67$0.42
2022Detailed filing. Detailed filing data is available for this year.$3.00$1.01$1.99$1.80$1.74$0.05
2021Detailed filing. Detailed filing data is available for this year.$2.66$0.72$1.94$1.79$1.39$0.41
2020Detailed filing. Detailed filing data is available for this year.$2.19$0.65$1.53$1.50$1.32$0.18
2019Detailed filing. Detailed filing data is available for this year.$1.99$0.64$1.34$1.54$1.50$0.04
2018Detailed filing. Detailed filing data is available for this year.$2.02$0.72$1.30$1.42$1.84$0.42
2017Detailed filing. Detailed filing data is available for this year.$2.63$0.92$1.72$1.55$1.54$0.01
2016Detailed filing. Detailed filing data is available for this year.$2.25$0.28$1.97$1.48$1.61$0.13
2014Detailed filing. Detailed filing data is available for this year.$2.46$0.22$2.25$1.60$1.69$0.09