Civic Intelligence

Forest City Education Foundation

990 • Fiscal year 2021 • EIN 42-1511192

Jul 01, 2020 to Jun 30, 2021 • Filed on Jul 21, 2021

Organization ProfileWWW.FORESTCITYEDUCATIONFOUNDATION.ORG
145 S Clark St PO Box 270Forest City, IA 50436

(641) 585-0005

Siviq Scores

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

Liabilities / Assets

18th percentile

0.00x

Higher debt load relative to assets than 18% of similar nonprofits.

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

Liabilities / Revenue

18th percentile

0.00x

Higher debt load relative to revenue than 18% of similar nonprofits.

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

Net Margin

91st percentile

61%

Higher net margin than 91% of similar nonprofits.

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

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.

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

Asset Growth

87th percentile

54%

Faster asset growth than 87% of similar nonprofits.

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

Revenue Growth

89th percentile

119%

Faster revenue growth than 89% of similar nonprofits.

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

Balance Sheet
Liabilities / Assets18th percentile

Assets

Up

$3,160,005

Up $1,102,044 (+54%) from 2020

Net Assets

Up

$3,158,976

Up $1,102,024 (+54%) from 2020

Liabilities

Up

$1,029

Up $20 (+2.0%) from 2020

Revenue And Expenses
Liabilities / Revenue18th percentileNet Margin91st percentile

Revenue

Up

$1,043,893

Up $567,759 (+119%) from 2020

Expenses

Up

$411,852

Up $37,786 (+10%) from 2020

Net Income

Up

$632,041

Up $529,973 (+519%) from 2020

Historical Trend

Balance Sheet Trend

Asset Growth87th 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: $674,543Liabilities 2011: $560Net Assets 2011: $673,9832011Assets 2012: $749,239Liabilities 2012: $1,229Net Assets 2012: $748,0102012Assets 2013: $1,154,136Liabilities 2013: $1,182Net Assets 2013: $1,152,9542013Assets 2014: $1,292,393Liabilities 2014: $966Net Assets 2014: $1,291,4272014Assets 2015: $1,280,417Liabilities 2015: $1,159Net Assets 2015: $1,279,2582015Assets 2016: $1,345,462Liabilities 2016: $587Net Assets 2016: $1,344,8752016Assets 2017: $1,721,711Liabilities 2017: $1,017Net Assets 2017: $1,720,6942017Assets 2018: $1,839,899Liabilities 2018: $1,190Net Assets 2018: $1,838,7092018Assets 2019: $1,971,360Liabilities 2019: $1,069Net Assets 2019: $1,970,2912019Assets 2020: $2,057,961Liabilities 2020: $1,009Net Assets 2020: $2,056,9522020Assets 2021: $3,160,005Liabilities 2021: $1,029Net Assets 2021: $3,158,9762021Assets 2022: $2,834,027Liabilities 2022: $1,331Net Assets 2022: $2,832,6962022Assets 2023: $3,053,754Liabilities 2023: $3,312Net Assets 2023: $3,050,4422023Assets 2024: $3,426,882Liabilities 2024: $2,315Net Assets 2024: $3,424,5672024Assets 2025: $3,808,552Liabilities 2025: $991Net Assets 2025: $3,807,5612025

Highlighted filing

2021

Assets$3,160,005
Liabilities$1,029
Net Assets$3,158,976
Open 2021 Filing

Operations Trend

Revenue Growth89th percentile

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

$1.5M$1.0M$500K$0-$500KRevenue 2011: $356,378Expenses 2011: $127,984Net Income 2011: $228,3942011Expenses 2012: $167,6552012Revenue 2013: $618,417Expenses 2013: $217,937Net Income 2013: $400,4802013Revenue 2014: $444,546Expenses 2014: $256,682Net Income 2014: $187,8642014Revenue 2015: $219,736Expenses 2015: $219,890Net Income 2015: -$1542015Revenue 2016: $353,171Expenses 2016: $329,934Net Income 2016: $23,2372016Revenue 2017: $616,376Expenses 2017: $352,735Net Income 2017: $263,6412017Revenue 2018: $459,022Expenses 2018: $389,853Net Income 2018: $69,1692018Revenue 2019: $663,550Expenses 2019: $423,325Net Income 2019: $240,2252019Revenue 2020: $476,134Expenses 2020: $374,066Net Income 2020: $102,0682020Revenue 2021: $1,043,893Expenses 2021: $411,852Net Income 2021: $632,0412021Revenue 2022: $684,990Expenses 2022: $481,839Net Income 2022: $203,1512022Revenue 2023: $520,436Expenses 2023: $522,538Net Income 2023: -$2,1022023Revenue 2024: $730,718Expenses 2024: $641,678Net Income 2024: $89,0402024Revenue 2025: $721,775Expenses 2025: $594,621Net Income 2025: $127,1542025

Highlighted filing

2021

Revenue$1,043,893
Expenses$411,852
Net Income$632,041
Open 2021 Filing
Jump To
Filing Snapshot
Filing Period
Jul 1, 2020 to Jun 30, 2021
Signed
Jul 21, 2021
Return Version
2020v4.0
Gross Receipts
$1,763,141
Mission and Program Overview

Mission

To provide grants and scholarships to forest city high school graduates pursuing higher education at accredited institutions.

To provide grants and scholarships to forest city high school graduates pursing higher education at accredited institutions.

Balance Sheet Detail
LineBeginningEndChange
Assets
Investments in Publicly Traded Securities$1,874,015$2,940,700▲ $1,066,685
Cash and Non-Interest-Bearing Accounts$183,248$218,606▲ $35,358
Savings and Temporary Cash Investments$698$699▲ $1
Total Assets$2,057,961$3,160,005▲ $1,102,044
Liabilities
Other Liabilities$1,009$1,029▲ $20
Total Liabilities$1,009$1,029▲ $20
Net Assets / Fund Balance
Net Assets With Donor Restrictions$1,655,769$2,658,430▲ $1,002,661
Net Assets Without Donor Restrictions$401,183$500,546▲ $99,363
Total Net Assets Fund Balance$2,056,952$3,158,976▲ $1,102,024
Total Liabilities and Net Assets / Fund Balance$2,057,961$3,160,005▲ $1,102,044

Endowment Activity

PeriodBeginningContrib.Gain/LossOther UsesEnd
2017--▲ $2,807-$46,847
2016-$43,720▲ $320-$44,040
Compensation and Service Providers
Top Officer Pay39th percentile

Board Members and Trustees

NameTitle
Raymond BeebePresident
Adam JacksonBoard Member
Alice LewellenBoard Member
Dan RosackerBoard Member
Darwin LehmannBoard Member
Dave DammBoard Member
Dennis BustaBoard Member
Derek ZiesmerBoard Member
Duane PolsdoferBoard Member
Evan FritzBoard Member
Heather DuenowBoard Member
Mike JohnsonBoard Member
Pat LovikBoard Member
Ron LichtsinnBoard Member
Scott MeindersBoard Member
Trista HelmBoard Member
Weston LohryBoard Member
Cindy CarterSecretary
David ArndtTreasurer
Steve LovikVice-preside
Revenue and Support

Revenue Composition

Contributions and Grants
$912,219
Program Service Revenue
$0
Investment Income
$121,319
Other Revenue
$10,355
All Other Contributions
$912,219
Change in Net Assets
$632,041
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$376,379
Total Fundraising Expense$38,609
Salaries, Compensation, and Employee Benefits$35,473
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages$7,804$12,488$10,927$31,219
Fees for Services Accounting-$9,665-$9,665
Office Expenses$390$1,564$652$2,606
Payroll Taxes$594$951$832$2,377
Other Expenses$1,500-$25,754$1,500
All Other Expenses$976$96-$1,072
Pension Plan Contributions$258$414$362$1,034
Other Employee Benefits$843--$843
Insurance$247$494$82$823
Total Functional Expenses$347,571$25,672$38,609$411,852
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
Payroll Tax Liabilities$1,029
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
Yes
Business relationship with 35% controlled entity
No
Business relationship with family members
No
Business relationship with organization members
Yes
Material changes to governing documents
No
Compensation from other sources disclosed
No
CEO compensation reviewed
Yes
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 9

“Raymond beebe 3315 sage avenue forest city, ia 50436 steve lovik 815 south golf course road forest city, ia 50436 pat lovik 815 south golf course road forest city, ia 50436 dave damm 5 dellwood drive forest city, ia 50436 trista helm 5922 370th st. Woden, ia 50484 mike johnson 215 north golf course road forest city, ia 50436 alice lewellen 336 south 4th street forest city, ia 50436 duane polsdofer 103 stonebridge dr forest city, ia 50436 darwin lehmann 3327 sage avenue forest city, ia 50436 scott meinders 107 dellwood drive forest city, ia 50436 cindy carter 126 sweetgrass lane forest city, ia 50436 adam jackson 546 n. Clark street forest city, ia 50436 dan rosacker 1205 pleasant street forest city, ia 50436 derek ziesmer 225 riverview dr forest city, ia 50436 ron lichtsinn 102 knollwood dr forest city, ia 50436 dennis busta 103 cattail drive forest city, ia 50436 evan fritz 22440 420th st lake mills, ia 50450 weston lohry 112 central drive forest city, ia 50436 heather duenow 18320 340th st forest city, ia 50436”

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

“Board reviews and approves before filing the return.”

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

“The executive director's performance is reviewed annually by board. Compensation and benefits are determined at that review.”

Form 990, Page 6, Part VI, Line 19

“Copies of documents made available upon request.”

Filing and Contact Details

Filer

Filer Name
Forest City Education Foundation
EIN
42-1511192
Phone
6415850005
Address
145 S CLARK ST PO BOX 270, FOREST CITY, IA 50436

Signing Officer

Name
Raymond Beebe
Title
President
Phone
6415850005
Signed
2021-07-21
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Raymond Beebe
Formed
2008
Legal Domicile
Ia
Voting Board Members
20
Independent Board Members
20
Employees
2

Preparer

Firm
Dk Arndt Pc
Address
116 EAST I STREET, FOREST CITY, IA 50436-1760
Preparer
David K Arndt CPA
Phone
6415854631
Supplemental Narrative

Additional Explanations

Form 990, Part XI, Line 9

“Unrealized gains (losses) unrest 134,647 unrealized gain (loss) restricted 336,539 unrealized gain (loss) endowed -1,203 rounding adjustment 0 total 469,983”

Raw XML AppendixShowing 400 of 442 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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IRS990/PoliticalCampaignActyInd0false
IRS990/PrincipalOfficerNm0RAYMOND BEEBE
IRS990/ProfessionalFundraisingInd0false
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IRS990/PYRevenuesLessExpensesAmt0102068
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IRS990/ReconcilationRevenueExpnssAmt0632041
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IRS990/RelatedOrganizationCtrlEntInd0false
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IRS990/ReportLandBuildingEquipmentInd0false
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IRS990/ReportOtherLiabilitiesInd0true
IRS990/ReportProgramRelatedInvstInd0false
IRS990/SavingsAndTempCashInvstGrp/BOYAmt0698
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IRS990ScheduleA/GrossReceiptsRltdActivitiesAmt0272209
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IRS990/ScheduleBRequiredInd0true
IRS990ScheduleD/CYMinus3YrEndwmtFundGrp/EndYearBalanceAmt046847
IRS990ScheduleD/CYMinus3YrEndwmtFundGrp/InvestmentEarningsOrLossesAmt02807
IRS990ScheduleD/CYMinus4YrEndwmtFundGrp/ContributionsAmt043720
IRS990ScheduleD/CYMinus4YrEndwmtFundGrp/EndYearBalanceAmt044040
IRS990ScheduleD/CYMinus4YrEndwmtFundGrp/InvestmentEarningsOrLossesAmt0320
IRS990ScheduleD/EndowmentsHeldRelatedOrgInd0false
IRS990ScheduleD/EndowmentsHeldUnrelatedOrgInd0false
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt01029
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc0PAYROLL TAX LIABILITIES
IRS990ScheduleD/TotalLiabilityAmt01029
IRS990/ScheduleJRequiredInd0false
IRS990ScheduleL/BusTrInvolveInterestedPrsnGrp/NameOfInterested/BusinessName/BusinessNameLine1Txt0DK ARNDT PC
IRS990ScheduleL/BusTrInvolveInterestedPrsnGrp/RelationshipDescriptionTxt0TREASURER
IRS990ScheduleL/BusTrInvolveInterestedPrsnGrp/SharingOfRevenuesInd0false
IRS990ScheduleL/BusTrInvolveInterestedPrsnGrp/TransactionDesc0ACCOUNTING SERVICES
IRS990/ScheduleORequiredInd0true
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0RAYMOND BEEBE 3315 SAGE AVENUE FOREST CITY, IA 50436 STEVE LOVIK 815 SOUTH GOLF COURSE ROAD FOREST CITY, IA 50436 PAT LOVIK 815 SOUTH GOLF COURSE ROAD FOREST CITY, IA 50436 DAVE DAMM 5 DELLWOOD DRIVE FOREST CITY, IA 50436 TRISTA HELM 5922 370TH ST. WODEN, IA 50484 MIKE JOHNSON 215 NORTH GOLF COURSE ROAD FOREST CITY, IA 50436 ALICE LEWELLEN 336 SOUTH 4TH STREET FOREST CITY, IA 50436 DUANE POLSDOFER 103 STONEBRIDGE DR FOREST CITY, IA 50436 DARWIN LEHMANN 3327 SAGE AVENUE FOREST CITY, IA 50436 SCOTT MEINDERS 107 DELLWOOD DRIVE FOREST CITY, IA 50436 CINDY CARTER 126 SWEETGRASS LANE FOREST CITY, IA 50436 ADAM JACKSON 546 N. CLARK STREET FOREST CITY, IA 50436 DAN ROSACKER 1205 PLEASANT STREET FOREST CITY, IA 50436 DEREK ZIESMER 225 RIVERVIEW DR FOREST CITY, IA 50436 RON LICHTSINN 102 KNOLLWOOD DR FOREST CITY, IA 50436 DENNIS BUSTA 103 CATTAIL DRIVE FOREST CITY, IA 50436 EVAN FRITZ 22440 420TH ST LAKE MILLS, IA 50450 WESTON LOHRY 112 CENTRAL DRIVE FOREST CITY, IA 50436 HEATHER DUENOW 18320 340TH ST FOREST CITY, IA 50436
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1BOARD REVIEWS AND APPROVES BEFORE FILING THE RETURN.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2THE EXECUTIVE DIRECTOR'S PERFORMANCE IS REVIEWED ANNUALLY BY BOARD. COMPENSATION AND BENEFITS ARE DETERMINED AT THAT REVIEW.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3COPIES OF DOCUMENTS MADE AVAILABLE UPON REQUEST.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt4UNREALIZED GAINS (LOSSES) UNREST 134,647 UNREALIZED GAIN (LOSS) RESTRICTED 336,539 UNREALIZED GAIN (LOSS) ENDOWED -1,203 ROUNDING ADJUSTMENT 0 TOTAL 469,983
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0FORM 990, PAGE 6, PART VI, LINE 9
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 19
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc4FORM 990, PART XI, LINE 9
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IRS990/SubjectToProxyTaxInd0false
IRS990/SubjToTaxRmnrtnExPrchtPymtInd0false
IRS990/TaxablePartyNotificationInd0false
IRS990/TaxExemptBondsInd0false
IRS990/TerminateOperationsInd0false
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IRS990/TotLiabNetAssetsFundBalanceGrp/BOYAmt02057961
IRS990/TotLiabNetAssetsFundBalanceGrp/EOYAmt03160005

Document Assets

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Filings

Displayed year

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

Open filing
Assets
$3,160,005
Liabilities
$1,029
Net assets
$3,158,976
Revenue
$1,043,893
Expenses
$411,852
Net income
$632,041
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2025Facts available. Structured filing facts are available, but richer extracted sections are limited.$3.81$0.00$3.81$0.72$0.59$0.13
2024Summary only. Only limited summary data is available for this year.$3.43$0.00$3.42$0.73$0.64$0.09
2023Facts available. Structured filing facts are available, but richer extracted sections are limited.$3.05$0.00$3.05$0.52$0.52$0.00
2022Summary only. Only limited summary data is available for this year.$2.83$0.00$2.83$0.68$0.48$0.20
2021Detailed filing. Detailed filing data is available for this year.$3.16$0.00$3.16$1.04$0.41$0.63
2020XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$2.06$0.00$2.06$0.48$0.37$0.10
2019XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$1.97$0.00$1.97$0.66$0.42$0.24
2018XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$1.84$0.00$1.84$0.46$0.39$0.07
2017Summary only. Only limited summary data is available for this year.$1.72$0.00$1.72$0.62$0.35$0.26
2016XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$1.35$0.00$1.34$0.35$0.33$0.02
2015Summary only. Only limited summary data is available for this year.$1.28$0.00$1.28$0.22$0.22$0.00
2014Detailed filing. Detailed filing data is available for this year.$1.29$0.00$1.29$0.44$0.26$0.19
2013Detailed filing. Detailed filing data is available for this year.$1.15$0.00$1.15$0.62$0.22$0.40
2012Facts available. Structured filing facts are available, but richer extracted sections are limited.$0.75$0.00$0.75$0.17
2011Summary only. Only limited summary data is available for this year.$0.67$0.00$0.67$0.36$0.13$0.23
Peer Organizations

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