Civic Intelligence

Mcelroy Loras Loan Fund

EIN 42-1239612 • 501(c)3

1450 Alta Vista Street52001
Siviq Scores

Precomputed percentiles relative to similar nonprofits. These scores are descriptive rather than judgmental.

Liabilities / Assets

73rd percentile

0.03x

Higher debt load relative to assets than 73% of similar nonprofits.

501(c)3 • <$500k nonprofits • Source year 2010

Liabilities / Revenue

Score unavailable

No value available

Liabilities-to-revenue requires both liabilities and revenue on the latest valid filing.

Source year 2010

Net Margin

Score unavailable

No value available

Net margin requires both revenue and expenses on the latest valid filing.

Source year 2010

Top Officer Pay

Score unavailable

No value available

No filing with officer or executive compensation is available for this organization yet.

Asset Growth

Score unavailable

No value available

No earlier valid filing was available within the previous three public years.

Source year 2010

Revenue Growth

Score unavailable

No value available

No valid filing value is available for this score.

Balance Sheet
Liabilities / Assets73rd percentile

Assets

$365,462

No earlier filing loaded for comparison.

Liabilities

$12,178

No earlier filing loaded for comparison.

Net Assets

$353,284

No earlier filing loaded for comparison.

Operations
Liabilities / RevenueScore unavailableNet MarginScore unavailable

Revenue

-

No earlier filing loaded for comparison.

Expenses

$6,815

No earlier filing loaded for comparison.

Net Income

-

No earlier filing loaded for comparison.

Trend Graphs

Balance Sheet Trend

Asset GrowthScore unavailable

Grouped bars show assets, liabilities, and net assets across loaded filings.

$400K$300K$200K$100K$0Assets 2010: $365,462Liabilities 2010: $12,178Net Assets 2010: $353,2842010

Highlighted filing

2010

Assets$365,462
Liabilities$12,178
Net Assets$353,284
Open 2010 Filing

Operations Trend

Revenue GrowthScore unavailable

Revenue, expenses, and net income by year, with the latest filing highlighted.

$8.0K$6.0K$4.0K$2.0K$0Expenses 2010: $6,8152010

Highlighted filing

2010

Revenue-
Expenses$6,815
Net Income-
Open 2010 Filing

Filings

Most recent year

2010 • Form 990Facts available. Structured filing facts are available, but richer extracted sections are limited.

Open filing
Assets
$365,462
Liabilities
$12,178
Net assets
$353,284
Revenue
-
Expenses
$6,815
Net income
-
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2010Facts available. Structured filing facts are available, but richer extracted sections are limited.$3.65$0.12$3.53$0.07
Latest Filing Detail
Jump To
Filing Snapshot
Filing Period
Jan 1, 2010 to Dec 31, 2010
Signed
May 23, 2011
Return Version
2010v3.2
Gross Receipts
$7,088
Filing and Contact Details

Filer

EIN
42-1239612
Raw XML Appendix388 raw XML fields

This appendix keeps the raw XML leaves available for debugging and edge-case review. The human report above is the primary experience.

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IRS990ScheduleA/GeneralExplanation0SCHEDULE A, PART IV, SUPPLEMENTAL INFORMATION: THE MCELROY LORAS LOAN FUND PROVIDES STUDENT LOANS TO DESERVING STUDENTS OF LORAS COLLEGE. IN TURN, LORAS COLLEGE ACTS AS THE FISCAL AGENT FOR MCELROY LORAS LOAN FUND, WHICH ENTAILS RECORDING CASH RECEIPTS AND DISBURSEMENTS, PROCESSING LOAN DISBURSEMENTS AND RECEIPTS, AND HOLDING EXCESS CASH FOR THE ORGANIZATION
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IRS990ScheduleD/Form990ScheduleDPartXIV/Explanation0IN ACCORDANCE WITH THE ACCOUNTING STANDARD ON ACCOUNTING FOR UNCERTAINTY IN INCOME TAXES, THE COLLEGE ADDRESSES THE DETERMINATION OF WHETHER TAX BENEFITS CLAIMED ON A TAX RETURN SHOULD BE RECORDED IN THE FINANCIAL STATEMENTS. UNDER THIS GUIDANCE, THE COLLEGE MAY RECOGNIZE THE TAX BENEFIT FROM AN UNCERTAIN TAX POSITION ONLY IF IT IS MORE LIKELY THAN NOT THAT THE TAX POSITION WILL BE SUSTAINED ON EXAMINATION BY TAXING AUTHORITIES, BASED ON THE TECHNICAL MERIT OF THE POSITION. EXAMPLES OF TAX POSITIONS INCLUDE THE TAX-EXEMPT STATUS OF THE COLLEGE AND VARIOUS POSITIONS RELATED TO THE POTENTIAL SOURCES OF UNRELATED BUSINESS TAXABLE INCOME. THERE WERE NO SIGNIFICANT UNRECOGNIZED TAX BENEFITS IDENTIFIED OR RECORDED AS LIABILITIES DURING FISCAL YEAR 2010. OPEN TAX YEARS SUBJECT TO EXAMINATION BY THE U.S. AND STATE TAXING AUTHORITIES ARE FOR THE YEARS 2007 TO 2009, WHICH STATUTES EXPIRE IN 2010 TO 2012, RESPECTIVELY.
IRS990ScheduleD/Form990ScheduleDPartXIV/Identifier0DESCRIPTION OF UNCERTAIN TAX POSITIONS UNDER FIN 48:
IRS990ScheduleD/Form990ScheduleDPartXIV/ReturnReference0PART X:
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IRS990ScheduleO/GeneralExplanation/Explanation0ACCORDING TO THE TRUST INDENTURE, THE BOARD OF TRUSTEES OF LORAS COLLEGE HAS THE POWER AT ANY TIME TO DESIGNATE MEMBERS OF THE LORAS COLLEGE BOARD OF TRUSTEES OR OTHER INDIVIDUALS AS SUCCESSOR TRUSTEES; PROVIDED, HOWEVER, NO INDIVIDUAL SHALL BE APPOINTED TO OR HOLD THE OFFICE OF TRUSTEE WHO IS ALSO A TRUSTEE OF THE R.J. MCELROY TRUST. THE TRUSTEES HAVE THE POWER TO LOAN, HOLD, MANAGE, INVEST, AND REINVEST THE ASSETS OF THE TRUST, AND COLLECT AND RECEIVE THE INTEREST, INCOME AND PROFITS THEREFROM FOR THE BENEFIT OF DESERVING YOUNG STUDENTS AT LORAS COLLEGE.
IRS990ScheduleO/GeneralExplanation/Explanation1THE ORGANIZATIONS' TRUSTEES AND OFFICERS REVIEW THE FORM 990 AND ATTACHMENTS PRIOR TO SUBMISSION.
IRS990ScheduleO/GeneralExplanation/Explanation2THE MCELROY LORAS LOAN FUND MAKES ITS GOVERNING DOCUMENTS, POLICIES, AND FINANCIAL STATEMENTS AVAILABLE TO THE PUBLIC UPON REQUEST VIA INSPECTION AT THE ORGANIZATION'S OFFICE OR VIA MAIL.
IRS990ScheduleO/GeneralExplanation/Explanation3THE MCELROY LORAS LOAN FUND DOES NOT HAVE SPECIFIC POLICIES; HOWEVER, LORAS COLLEGE, THE SUPPORTED ORGANIZATION, DOES HAVE POLICIES IN PLACE.
IRS990ScheduleO/GeneralExplanation/Explanation4HOURS PER WEEK DEVOTED TO THE RELATED ORGANIZATION, LORAS COLLEGE: THOMAS TAUKE, TRUSTEE - 1 HOUR JAMES BEAR, TRUSTEE - 1 HOUR DAVID SPAHN, TRUSTEE - 1 HOUR JAMES COLLINS, PRESIDENT - 40 HOURS STEPHEN SCHMALL, TREASURER - 40 HOURS
IRS990ScheduleO/GeneralExplanation/Explanation5LORAS COLLEGE ACTS AS THE FISCAL AGENT FOR MCELROY LORAS LOAN FUND, WHICH ENTAILS RECORDING CASH RECEIPTS AND DISBURSEMENTS, PROCESSING LOAN DISBURSEMENTS AND RECEIPTS, AND HOLDING EXCESS CASH FOR THE ORGANIZATION. ACCORDINGLY, ALL 1099'S ARE PROCESSED BY LORAS COLLEGE AND ALL TAX REPORTING IS DONE THROUGH UTILIZING LORAS COLLEGE AS THE PAYOR.
IRS990ScheduleO/GeneralExplanation/Explanation6THE MCELROY LORAS LOAN FUND DOES NOT HAVE SEPARATE MEETINGS OF THE BOARD; HOWEVER, LORAS COLLEGE, THE SUPPORTED ORGANIZATION DOES HAVE MEETINGS AND ANY BUSINESS RELATED TO THE MCELROY LORAS LOAN FUND WOULD BE DOCUMENTED IN THOSE MINUTES.
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ReturnHeader/Officer/DateSigned02011-05-23
ReturnHeader/Officer/Name0STEPHEN J SCHMALL
ReturnHeader/Officer/Phone05635887100
ReturnHeader/Officer/Title0TREASURER
ReturnHeader/Preparer/DatePrepared02011-05-20
ReturnHeader/PreparerFirm/PreparerFirmBusinessName/BusinessNameLine10BAKER TILLY VIRCHOW KRAUSE LLP
ReturnHeader/PreparerFirm/PreparerFirmUSAddress/AddressLine10225 S 6TH ST STE 2300
ReturnHeader/PreparerFirm/PreparerFirmUSAddress/City0MINNEAPOLIS
ReturnHeader/PreparerFirm/PreparerFirmUSAddress/State0MN
ReturnHeader/PreparerFirm/PreparerFirmUSAddress/ZIPCode055402
ReturnHeader/Preparer/Phone06128764500
ReturnHeader/ReturnType0990
ReturnHeader/TaxPeriodBeginDate02010-01-01
ReturnHeader/TaxPeriodEndDate02010-12-31
ReturnHeader/TaxYear02010
ReturnHeader/Timestamp02011-05-25T14:20:55-05:00

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