Civic Intelligence

E Joe Lundsgaard Educational Trust

990 • Fiscal year 2021 • EIN 42-1356317

Jan 01, 2021 to Dec 31, 2021 • Filed on May 11, 2022

Organization ProfileN/A
Cherokee State Bank 212 W WillowCherokee, IA 51012-1000

(712) 225-3000

Siviq Scores

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

Liabilities / Assets

56th percentile

0.00x

Tied with the lowest-debt nonprofits in its peer group.

2021 filings • 501(c)3 • <$500k nonprofits • Source year 2021

Liabilities / Revenue

56th percentile

0.00x

Tied with the lowest-debt nonprofits in its peer group.

2021 filings • 501(c)3 • <$500k nonprofits • Source year 2021

Net Margin

93rd percentile

70%

Higher net margin than 93% of similar nonprofits.

2021 filings • 501(c)3 • <$500k nonprofits • Source year 2021

Top Officer Pay

78th percentile

$2,000

Higher top officer pay than 78% of similar nonprofits.

Top officer pay equals 8.1% of source-year revenue.

2021 filings • 501(c)3 • <$500k nonprofits • Source year 2021

Asset Growth

47th percentile

3.6%

Faster asset growth than 47% of similar nonprofits.

2021 filings • 501(c)3 • <$500k nonprofits • Annualized from 2020 to 2021

Revenue Growth

13th percentile

-61%

Faster revenue growth than 13% of similar nonprofits.

2021 filings • 501(c)3 • <$500k nonprofits • Annualized from 2020 to 2021

Balance Sheet
Liabilities / Assets56th percentile

Assets

Up

$494,103

Up $17,224 (+3.6%) from 2020

Net Assets

Up

$494,103

Up $17,224 (+3.6%) from 2020

Liabilities

Flat

$0

Flat from 2020

Revenue And Expenses
Liabilities / Revenue56th percentileNet Margin93rd percentile

Revenue

Down

$24,766

Down $38,717 (-61%) from 2020

Expenses

Down

$7,542

Down $3,772 (-33%) from 2020

Net Income

Down

$17,224

Down $34,945 (-67%) from 2020

Historical Trend

Balance Sheet Trend

Asset Growth47th percentile

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

$600K$400K$200K$0Assets 2020: $476,879Liabilities 2020: $0Net Assets 2020: $476,8792020Assets 2021: $494,103Liabilities 2021: $0Net Assets 2021: $494,1032021Assets 2022: $470,239Liabilities 2022: $0Net Assets 2022: $470,2392022Assets 2023: $470,951Liabilities 2023: $0Net Assets 2023: $470,9512023Assets 2024: $502,502Liabilities 2024: $0Net Assets 2024: $502,5022024

Highlighted filing

2021

Assets$494,103
Liabilities$0
Net Assets$494,103
Open 2021 Filing

Operations Trend

Revenue Growth13th percentile

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

$100K$50K$0-$50KRevenue 2020: $63,483Expenses 2020: $11,314Net Income 2020: $52,1692020Revenue 2021: $24,766Expenses 2021: $7,542Net Income 2021: $17,2242021Revenue 2022: -$15,806Expenses 2022: $8,058Net Income 2022: -$23,8642022Revenue 2023: $17,882Expenses 2023: $17,170Net Income 2023: $7122023Revenue 2024: $47,049Expenses 2024: $15,498Net Income 2024: $31,5512024

Highlighted filing

2021

Revenue$24,766
Expenses$7,542
Net Income$17,224
Open 2021 Filing
Jump To
Filing Snapshot
Filing Period
Jan 1, 2021 to Dec 31, 2021
Signed
May 11, 2022
Return Version
2021v4.0
Gross Receipts
$58,265
Mission and Program Overview

Mission

Tuition grants and subsidize tuition

Balance Sheet Detail
LineBeginningEndChange
Assets
Investments in Publicly Traded Securities$252,800$261,801▲ $9,001
Cash and Non-Interest-Bearing Accounts$25,869$34,092▲ $8,223
Total Assets$476,879$494,103▲ $17,224
Other Assets Total$198,210$198,210→ $0
Liabilities
Total Liabilities$0$0→ $0
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$476,879$494,103▲ $17,224
Total Net Assets Fund Balance$476,879$494,103▲ $17,224
Total Liabilities and Net Assets / Fund Balance$476,879$494,103▲ $17,224

Asset Categories

AssetBook ValueDepreciationBasis
Other Assets Org$198,210--
Compensation and Service Providers
Top Officer Pay78th percentile

Employees

NameTitleBaseTotal
Cherokee State BankTrustee$2,000$2,000
Revenue and Support

Revenue Composition

Contributions and Grants
$0
Program Service Revenue
$0
Investment Income
$24,766
Other Revenue
$0
Change in Net Assets
$17,224
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Grants and Similar Amounts Paid$5,470
Salaries, Compensation, and Employee Benefits$2,000
Other Expenses$72
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Grants to Domestic Orgs$5,470--$5,470
Current Officers, Directors, Trustees, and Key Employees$2,000--$2,000
Other Expenses$72--$72
Total Functional Expenses$7,542$0$0$7,542
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
No
Backup withholding compliance
No
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

Governance Explanations

Form 990, Page 6, Part VI, Line 11B

“No review was or will be conducted.”

Form 990, Page 6, Part VI, Line 19

“No documents available to the public”

Filing and Contact Details

Filer

Filer Name
E Joe Lundsgaard Educational Trust
EIN
42-1356317
Phone
7122253000
Address
CHEROKEE STATE BANK 212 W WILLOW, CHEROKEE, IA 51012-1000

Signing Officer

Name
Cherokee State Bank
Title
Trustee
Phone
7122253000
Signed
2022-05-11

Organization Details

Principal Officer
Cherokee State Bank
Formed
2000
Legal Domicile
Ia
Voting Board Members
0
Independent Board Members
0
Employees
0

Preparer

Firm
Burkhardt & Dawson Cpas
Address
793 NORTH SECOND STREET, CHEROKEE, IA 51012
Preparer
Laura M Dawson CPA
Phone
7122255755
Supplemental Narrative

Additional Explanations

Form 990, Part XI, Line 9

“Insurance policy update 0”

Raw XML Appendix344 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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IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2INSURANCE POLICY UPDATE 0
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IRS990/TotLiabNetAssetsFundBalanceGrp/BOYAmt0476879
IRS990/TotLiabNetAssetsFundBalanceGrp/EOYAmt0494103
IRS990/TrnsfrExmptNonChrtblRltdOrgInd0false
IRS990/TypeOfOrganizationTrustInd0X
IRS990/UnrelatedBusIncmOverLimitInd0false
IRS990/USAddress/AddressLine1Txt0212 W WILLOW
IRS990/USAddress/CityNm0CHEROKEE
IRS990/USAddress/StateAbbreviationCd0IA
IRS990/USAddress/ZIPCd051012
IRS990/VotingMembersGoverningBodyCnt00
IRS990/VotingMembersIndependentCnt00
IRS990/WebsiteAddressTxt0N/A
IRS990/WhistleblowerPolicyInd0false
ReturnHeader/BuildTS02022-09-23 18:48:47Z
ReturnHeader/BusinessOfficerGrp/PersonNm0CHEROKEE STATE BANK
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0TRUSTEE
ReturnHeader/BusinessOfficerGrp/PhoneNum07122253000
ReturnHeader/BusinessOfficerGrp/SignatureDt02022-05-11
ReturnHeader/Filer/BusinessName/BusinessNameLine1Txt0E JOE LUNDSGAARD EDUCATIONAL TRUST
ReturnHeader/Filer/BusinessNameControlTxt0EJOE
ReturnHeader/Filer/EIN0421356317
ReturnHeader/Filer/PhoneNum07122253000
ReturnHeader/Filer/USAddress/AddressLine1Txt0CHEROKEE STATE BANK 212 W WILLOW
ReturnHeader/Filer/USAddress/CityNm0CHEROKEE
ReturnHeader/Filer/USAddress/StateAbbreviationCd0IA
ReturnHeader/Filer/USAddress/ZIPCd0510121000
ReturnHeader/PreparerFirmGrp/PreparerFirmEIN0201892306
ReturnHeader/PreparerFirmGrp/PreparerFirmName/BusinessNameLine1Txt0BURKHARDT & DAWSON CPAS
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/AddressLine1Txt0793 NORTH SECOND STREET
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/CityNm0CHEROKEE
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/StateAbbreviationCd0IA
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/ZIPCd051012
ReturnHeader/PreparerPersonGrp/PhoneNum07122255755
ReturnHeader/PreparerPersonGrp/PreparationDt02022-05-11
ReturnHeader/PreparerPersonGrp/PreparerPersonNm0LAURA M DAWSON CPA
ReturnHeader/ReturnTs02022-05-12T12:04:38-05:00
ReturnHeader/ReturnTypeCd0990
ReturnHeader/SigningOfficerGrp/PersonFullName/PersonFirstNm0JARED
ReturnHeader/SigningOfficerGrp/PersonFullName/PersonLastNm0KOCH
ReturnHeader/TaxPeriodBeginDt02021-01-01
ReturnHeader/TaxPeriodEndDt02021-12-31
ReturnHeader/TaxYr02021

Document Assets

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Filings

Displayed year

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

Open filing
Assets
$494,103
Liabilities
$0
Net assets
$494,103
Revenue
$24,766
Expenses
$7,542
Net income
$17,224
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Detailed filing. Detailed filing data is available for this year.$5.03$0.00$5.03$0.47$0.15$0.32
2023Detailed filing. Detailed filing data is available for this year.$4.71$0.00$4.71$0.18$0.17$0.01
2022Detailed filing. Detailed filing data is available for this year.$4.70$0.00$4.70$0.16$0.08$0.24
2021Detailed filing. Detailed filing data is available for this year.$4.94$0.00$4.94$0.25$0.08$0.17
2020Detailed filing. Detailed filing data is available for this year.$4.77$0.00$4.77$0.63$0.11$0.52