Civic Intelligence

Somerset Scholarship Fund

990EZ • Fiscal year 2024 • EIN 45-4617048

Jan 01, 2024 to Dec 31, 2024 • Filed on Feb 10, 2025

Organization ProfileN/A
1416 Dodd RoadMendota Heights, MN 55118

(612) 457-1416

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.

2024 filings • 501(c)3 • <$500k nonprofits • Source year 2024

Liabilities / Revenue

57th percentile

0.00x

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

2024 filings • 501(c)3 • <$500k nonprofits • Source year 2024

Net Margin

7th percentile

-70%

Higher net margin than 7% of similar nonprofits.

2024 filings • 501(c)3 • <$500k nonprofits • Source year 2024

Top Officer Pay

79th percentile

$0

Higher top officer pay than 79% of similar nonprofits.

Top officer pay equals 0.0% of source-year revenue.

2024 filings • 501(c)3 • <$500k nonprofits • Source year 2024

Asset Growth

16th percentile

-35%

Faster asset growth than 16% of similar nonprofits.

2024 filings • 501(c)3 • <$500k nonprofits • Annualized from 2023 to 2024

Revenue Growth

27th percentile

-18%

Faster revenue growth than 27% of similar nonprofits.

2024 filings • 501(c)3 • <$500k nonprofits • Annualized from 2023 to 2024

Balance Sheet
Liabilities / Assets56th percentile

Assets

Down

$98,906

Down $54,295 (-35%) from 2023

Net Assets

$98,906

No earlier filing loaded for comparison.

Liabilities

Flat

$0

Flat from 2023

Revenue And Expenses
Liabilities / Revenue57th percentileNet Margin7th percentile

Revenue

Down

$79,748

Down $17,293 (-18%) from 2023

Expenses

Up

$135,758

Up $44,240 (+48%) from 2023

Net Income

Down

-$56,010

Down $61,533 (-1114%) from 2023

Historical Trend

Balance Sheet Trend

Asset Growth16th percentile

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

$200K$150K$100K$50K$0Assets 2011: $1Liabilities 2011: $02011Assets 2012: $58,749Liabilities 2012: $0Net Assets 2012: $58,7492012Assets 2013: $62,092Liabilities 2013: $0Net Assets 2013: $62,0922013Assets 2014: $73,118Liabilities 2014: $0Net Assets 2014: $73,1182014Assets 2015: $70,738Liabilities 2015: $0Net Assets 2015: $70,7382015Assets 2016: $87,131Liabilities 2016: $0Net Assets 2016: $87,1312016Assets 2017: $61,121Liabilities 2017: $0Net Assets 2017: $61,1212017Assets 2018: $71,349Liabilities 2018: $0Net Assets 2018: $71,3492018Assets 2019: $80,332Liabilities 2019: $0Net Assets 2019: $80,3322019Assets 2020: $94,918Liabilities 2020: $0Net Assets 2020: $94,9182020Assets 2021: $123,672Liabilities 2021: $0Net Assets 2021: $123,6722021Assets 2022: $147,678Liabilities 2022: $0Net Assets 2022: $147,6782022Assets 2023: $153,201Liabilities 2023: $02023Assets 2024: $98,906Liabilities 2024: $0Net Assets 2024: $98,9062024Assets 2025: $59,394Liabilities 2025: $0Net Assets 2025: $59,3942025

Highlighted filing

2024

Assets$98,906
Liabilities$0
Net Assets$98,906
Open 2024 Filing

Operations Trend

Revenue Growth27th percentile

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

$150K$100K$50K$0-$50K-$100KRevenue 2011: $0Expenses 2011: $0Net Income 2011: $02011Revenue 2012: $93,094Expenses 2012: $34,345Net Income 2012: $58,7492012Revenue 2013: $36,816Expenses 2013: $33,473Net Income 2013: $3,3432013Revenue 2014: $53,734Expenses 2014: $42,708Net Income 2014: $11,0262014Revenue 2015: $53,909Expenses 2015: $56,289Net Income 2015: -$2,3802015Revenue 2016: $79,103Expenses 2016: $62,710Net Income 2016: $16,3932016Revenue 2017: $48,482Expenses 2017: $74,492Net Income 2017: -$26,0102017Revenue 2018: $81,099Expenses 2018: $70,871Net Income 2018: $10,2282018Revenue 2019: $103,295Expenses 2019: $94,312Net Income 2019: $8,9832019Revenue 2020: $98,177Expenses 2020: $83,591Net Income 2020: $14,5862020Revenue 2021: $120,322Expenses 2021: $91,568Net Income 2021: $28,7542021Revenue 2022: $97,438Expenses 2022: $73,432Net Income 2022: $24,0062022Revenue 2023: $97,041Expenses 2023: $91,518Net Income 2023: $5,5232023Revenue 2024: $79,748Expenses 2024: $135,758Net Income 2024: -$56,0102024Revenue 2025: $96,813Expenses 2025: $137,893Net Income 2025: -$41,0802025

Highlighted filing

2024

Revenue$79,748
Expenses$135,758
Net Income-$56,010
Open 2024 Filing
Jump To
Filing Snapshot
Filing Period
Jan 1, 2024 to Dec 31, 2024
Signed
Feb 10, 2025
Return Version
2024v5.0
Gross Receipts
$79,748
Mission and Program Overview

Mission

Somerset scholarship fund is organized and operated to raise funds from members of somerset country club that are used to provide scholarships to employees or decendants of such employees, of somerset country club, which is a 503(c)(7) organization. Members of somerset country club, the club manager, the board of directors, officers, and committee members are not eligible to be scholarship receipients.

Program Services

DescriptionGrantsExpenses
TO PROVIDE FUNDS TO FINANCE OR AID IN FINANCING , THE POST-SECONDARY UNDERGRADUATE EDUCATION OF ONE OR MORE QUALIFIED APPLICANTS AT ANY ACCREDITED TWO YEAR OR FOUR YEAR COLLEGE, UNIVERSITY OR VOCATIONAL/TECHNICAL SCHOOL.$126,000$126,000
Compensation and Service Providers
Top Officer Pay79th percentile

Employees

NameTitleFull / Part TimeBaseOtherTotal
LEA THEOBALDCo-Chairwoman-$0--
JODIE ZESBAUGHCo-Chairwoman-$0--
ANNE FIELDPresident-$0--
LINDA GARRETTDirector-$0--
HERB LEWISDirector-$0--
ANN MCDONALDDirector-$0--
KAREN MESLOWDirector-$0--
JILL RILEYDirector-$0--
BEV SCHMIDTDirector-$0--
BRIAN SMITHDirector-$0--
JERRY TOSTRUDDirector-$0--
KATE WENGERDirector-$0--
Filing and Contact Details

Filer

Filer Name
Somerset Scholarship Fund
EIN
45-4617048
Phone
6124571416
Address
1416 DODD ROAD, MENDOTA HEIGHTS, MN 55118

Signing Officer

Name
Lea Theobald
Title
President
Phone
6124571416
Signed
2025-02-10
Discuss with paid preparer
Yes

Preparer

Firm
Mahoney Ulbrich Christiansen & Russ Pa
Address
10 RIVER PARK PLAZA SUITE 800, SAINT PAUL, MN 55107
Preparer
Lance J Brock
Phone
6512276695
Supplemental Narrative

Additional Explanations

Form 990-ez, Part I, Line 4 - Other Investment Income

“Description: interest income. Amount: 1,648.”

Form 990-ez, Part I, Line 16 - Other Expenses

“Description: insurance. Amount: 902. Description: office supplies. Amount: 858. Description: bank charges. Amount: 60. Total to form 990-ez, line 16: 1,820.”

Form 990-ez, Part I, Line 20 - Other Changes in Net Assets

“Description: unrealized gains/losses. Amount: 1,715.”

Raw XML Appendix208 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.

Path#Value
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IRS990EZ/BooksInCareOfDetail/USAddress/CityNm0MENDOTA HEIGHTS
IRS990EZ/BooksInCareOfDetail/USAddress/StateAbbreviationCd0MN
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IRS990EZ/OfficerDirectorTrusteeEmplGrp/ExpenseAccountOtherAllwncAmt110
IRS990EZ/OfficerDirectorTrusteeEmplGrp/PersonNm0LEA THEOBALD
IRS990EZ/OfficerDirectorTrusteeEmplGrp/PersonNm1JODIE ZESBAUGH
IRS990EZ/OfficerDirectorTrusteeEmplGrp/PersonNm2ANNE FIELD
IRS990EZ/OfficerDirectorTrusteeEmplGrp/PersonNm3LINDA GARRETT
IRS990EZ/OfficerDirectorTrusteeEmplGrp/PersonNm4HERB LEWIS
IRS990EZ/OfficerDirectorTrusteeEmplGrp/PersonNm5ANN MCDONALD
IRS990EZ/OfficerDirectorTrusteeEmplGrp/PersonNm6KAREN MESLOW
IRS990EZ/OfficerDirectorTrusteeEmplGrp/PersonNm7JILL RILEY
IRS990EZ/OfficerDirectorTrusteeEmplGrp/PersonNm8BEV SCHMIDT
IRS990EZ/OfficerDirectorTrusteeEmplGrp/PersonNm9BRIAN SMITH
IRS990EZ/OfficerDirectorTrusteeEmplGrp/PersonNm10JERRY TOSTRUD
IRS990EZ/OfficerDirectorTrusteeEmplGrp/PersonNm11KATE WENGER
IRS990EZ/OfficerDirectorTrusteeEmplGrp/TitleTxt0CO-CHAIRWOMAN
IRS990EZ/OfficerDirectorTrusteeEmplGrp/TitleTxt1CO-CHAIRWOMAN
IRS990EZ/OfficerDirectorTrusteeEmplGrp/TitleTxt2PRESIDENT
IRS990EZ/OfficerDirectorTrusteeEmplGrp/TitleTxt3DIRECTOR
IRS990EZ/OfficerDirectorTrusteeEmplGrp/TitleTxt4DIRECTOR
IRS990EZ/OfficerDirectorTrusteeEmplGrp/TitleTxt5DIRECTOR
IRS990EZ/OfficerDirectorTrusteeEmplGrp/TitleTxt6DIRECTOR
IRS990EZ/OfficerDirectorTrusteeEmplGrp/TitleTxt7DIRECTOR
IRS990EZ/OfficerDirectorTrusteeEmplGrp/TitleTxt8DIRECTOR
IRS990EZ/OfficerDirectorTrusteeEmplGrp/TitleTxt9DIRECTOR
IRS990EZ/OfficerDirectorTrusteeEmplGrp/TitleTxt10DIRECTOR
IRS990EZ/OfficerDirectorTrusteeEmplGrp/TitleTxt11DIRECTOR
IRS990EZ/OperateHospitalInd00
IRS990EZ/Organization501c3Ind0X
IRS990EZ/OrganizationDissolvedEtcInd00
IRS990EZ/OrganizationHadUBIInd00
IRS990EZ/OtherChangesInNetAssetsAmt01715
IRS990EZ/OtherExpensesTotalAmt01820
IRS990EZ/PartVIHghstPdCntrctProfSrvcTxt0NONE
IRS990EZ/PartVIOfCompOfHghstPdEmplTxt0NONE
IRS990EZ/PoliticalCampaignActyInd00
IRS990EZ/PrimaryExemptPurposeTxt0SOMERSET SCHOLARSHIP FUND IS ORGANIZED AND OPERATED TO RAISE FUNDS FROM MEMBERS OF SOMERSET COUNTRY CLUB THAT ARE USED TO PROVIDE SCHOLARSHIPS TO EMPLOYEES OR DECENDANTS OF SUCH EMPLOYEES, OF SOMERSET COUNTRY CLUB, WHICH IS A 503(C)(7) ORGANIZATION. MEMBERS OF SOMERSET COUNTRY CLUB, THE CLUB MANAGER, THE BOARD OF DIRECTORS, OFFICERS, AND COMMITTEE MEMBERS ARE NOT ELIGIBLE TO BE SCHOLARSHIP RECEIPIENTS.
IRS990EZ/PrintingPublicationsPostageAmt01938
IRS990EZ/ProgramSrvcAccomplishmentGrp/DescriptionProgramSrvcAccomTxt0TO PROVIDE FUNDS TO FINANCE OR AID IN FINANCING , THE POST-SECONDARY UNDERGRADUATE EDUCATION OF ONE OR MORE QUALIFIED APPLICANTS AT ANY ACCREDITED TWO YEAR OR FOUR YEAR COLLEGE, UNIVERSITY OR VOCATIONAL/TECHNICAL SCHOOL.
IRS990EZ/ProgramSrvcAccomplishmentGrp/GrantsAndAllocationsAmt0126000
IRS990EZ/ProgramSrvcAccomplishmentGrp/ProgramServiceExpensesAmt0126000
IRS990EZ/ProhibitedTaxShelterTransInd00
IRS990EZ/RelatedOrganizationCtrlEntInd00
IRS990EZ/SchoolOperatingInd00
IRS990EZ/StatesWhereCopyOfReturnIsFldCd0MN
IRS990EZ/SubjectToProxyTaxInd00
IRS990EZ/SumOfTotalLiabilitiesGrp/BOYAmt00
IRS990EZ/SumOfTotalLiabilitiesGrp/EOYAmt00
IRS990EZ/TanningServicesProvidedInd00
IRS990EZ/TaxImposedOnOrganizationMgrAmt00
IRS990EZ/TaxImposedUnderIRC4911Amt00
IRS990EZ/TaxImposedUnderIRC4912Amt00
IRS990EZ/TaxImposedUnderIRC4955Amt00
IRS990EZ/TaxReimbursedByOrganizationAmt00
IRS990EZ/TotalExpensesAmt0135758
IRS990EZ/TotalProgramServiceExpensesAmt0126000
IRS990EZ/TotalRevenueAmt079748
IRS990EZ/TrnsfrExmptNonChrtblRltdOrgInd00
IRS990EZ/TypeOfOrganizationCorpInd0X
IRS990EZ/WebsiteAddressTxt0N/A
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/CurrentTaxYearAmt078100
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/CurrentTaxYearMinus1YearAmt096974
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/CurrentTaxYearMinus2YearsAmt089914
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/CurrentTaxYearMinus3YearsAmt0120300
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/CurrentTaxYearMinus4YearsAmt098159
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/TotalAmt0483447
IRS990ScheduleA/GrossInvestmentIncome170Grp/CurrentTaxYearAmt01648
IRS990ScheduleA/GrossInvestmentIncome170Grp/CurrentTaxYearMinus1YearAmt067
IRS990ScheduleA/GrossInvestmentIncome170Grp/CurrentTaxYearMinus2YearsAmt05
IRS990ScheduleA/GrossInvestmentIncome170Grp/CurrentTaxYearMinus3YearsAmt022
IRS990ScheduleA/GrossInvestmentIncome170Grp/CurrentTaxYearMinus4YearsAmt018
IRS990ScheduleA/GrossInvestmentIncome170Grp/TotalAmt01760
IRS990ScheduleA/PublicOrganization170Ind0X
IRS990ScheduleA/PublicSupportCY170Pct00.74190
IRS990ScheduleA/PublicSupportPY170Pct00.78830
IRS990ScheduleA/PublicSupportTotal170Amt0359987
IRS990ScheduleA/SubstantialContributorsTotAmt0123460
IRS990ScheduleA/ThirtyThrPctSuprtTestsCY170Ind0X
IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearAmt078100
IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearMinus1YearAmt096974
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IRS990ScheduleA/TotalCalendarYear170Grp/TotalAmt0483447
IRS990ScheduleA/TotalSupportAmt0485207
IRS990ScheduleB/ContributorInformationGrp/ContributorBusinessName/BusinessNameLine10RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorNum0RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/AddressLine10RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/AddressLine20RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/City0RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/State0RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/ZIPCode0RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/TotalContributionsAmt0RESTRICTED
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0DESCRIPTION: INTEREST INCOME. AMOUNT: 1,648.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1DESCRIPTION: INSURANCE. AMOUNT: 902. DESCRIPTION: OFFICE SUPPLIES. AMOUNT: 858. DESCRIPTION: BANK CHARGES. AMOUNT: 60. TOTAL TO FORM 990-EZ, LINE 16: 1,820.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2DESCRIPTION: UNREALIZED GAINS/LOSSES. AMOUNT: 1,715.
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0FORM 990-EZ, PART I, LINE 4 - OTHER INVESTMENT INCOME
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1FORM 990-EZ, PART I, LINE 16 - OTHER EXPENSES
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2FORM 990-EZ, PART I, LINE 20 - OTHER CHANGES IN NET ASSETS
TransferPrsnlBnftContractsDecl/DeclarationDesc0THE ORGANIZATION DID NOT, DURING THE YEAR, RECEIVE ANY FUNDS, DIRECTLY,OR INDIRECTLY, TO PAY PREMIUMS ON A PERSONAL BENEFIT CONTRACT.THE ORGANIZATION, DID NOT, DURING THE YEAR, PAY ANY PREMIUMS, DIRECTLY,OR INDIRECTLY, ON A PERSONAL BENEFIT CONTRACT.
ReturnHeader/BuildTS02025-03-06 01:10:19Z
ReturnHeader/BusinessOfficerGrp/DiscussWithPaidPreparerInd01
ReturnHeader/BusinessOfficerGrp/PersonNm0LEA THEOBALD
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0PRESIDENT
ReturnHeader/BusinessOfficerGrp/PhoneNum06124571416
ReturnHeader/BusinessOfficerGrp/SignatureDt02025-02-10
ReturnHeader/Filer/BusinessName/BusinessNameLine1Txt0SOMERSET SCHOLARSHIP FUND
ReturnHeader/Filer/BusinessNameControlTxt0SOME
ReturnHeader/Filer/EIN0454617048
ReturnHeader/Filer/PhoneNum06124571416
ReturnHeader/Filer/USAddress/AddressLine1Txt01416 DODD ROAD
ReturnHeader/Filer/USAddress/CityNm0MENDOTA HEIGHTS
ReturnHeader/Filer/USAddress/StateAbbreviationCd0MN
ReturnHeader/Filer/USAddress/ZIPCd055118
ReturnHeader/IRSResponsiblePrtyInfoCurrInd00
ReturnHeader/PreparerFirmGrp/PreparerFirmEIN0411647057
ReturnHeader/PreparerFirmGrp/PreparerFirmName/BusinessNameLine1Txt0MAHONEY ULBRICH CHRISTIANSEN & RUSS PA
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/AddressLine1Txt010 RIVER PARK PLAZA SUITE 800
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/CityNm0SAINT PAUL
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/StateAbbreviationCd0MN
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/ZIPCd055107
ReturnHeader/PreparerPersonGrp/PhoneNum06512276695
ReturnHeader/PreparerPersonGrp/PreparationDt02025-02-10
ReturnHeader/PreparerPersonGrp/PreparerPersonNm0LANCE J BROCK
ReturnHeader/ReturnTs02025-02-10T16:40:21-06:00
ReturnHeader/ReturnTypeCd0990EZ
ReturnHeader/TaxPeriodBeginDt02024-01-01
ReturnHeader/TaxPeriodEndDt02024-12-31
ReturnHeader/TaxYr02024

Document Assets

No mirrored PDF or thumbnail assets are attached yet.

Filings

Displayed year

2024 • Form 990EZDetailed filing. Detailed filing data is available for this year.

Open filing
Assets
$98,906
Liabilities
$0
Net assets
$98,906
Revenue
$79,748
Expenses
$135,758
Net income
-$56,010
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2025Detailed filing. Detailed filing data is available for this year.$0.59$0.00$0.59$0.97$1.38$0.41
2024Detailed filing. Detailed filing data is available for this year.$0.99$0.00$0.99$0.80$1.36$0.56
2023Summary only. Only limited summary data is available for this year.$1.53$0.00$0.97$0.92$0.06
2022Detailed filing. Detailed filing data is available for this year.$1.48$0.00$1.48$0.97$0.73$0.24
2021XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$1.24$0.00$1.24$1.20$0.92$0.29
2020Detailed filing. Detailed filing data is available for this year.$0.95$0.00$0.95$0.98$0.84$0.15
2019XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$0.80$0.00$0.80$1.03$0.94$0.09
2018XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$0.71$0.00$0.71$0.81$0.71$0.10
2017XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$0.61$0.00$0.61$0.48$0.74$0.26
2016Detailed filing. Detailed filing data is available for this year.$0.87$0.00$0.87$0.79$0.63$0.16
2015XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$0.71$0.00$0.71$0.54$0.56$0.02
2014Detailed filing. Detailed filing data is available for this year.$0.73$0.00$0.73$0.54$0.43$0.11
2013Detailed filing. Detailed filing data is available for this year.$0.62$0.00$0.62$0.37$0.33$0.03
2012Facts available. Structured filing facts are available, but richer extracted sections are limited.$0.59$0.00$0.59$0.93$0.34$0.59
2011Summary only. Only limited summary data is available for this year.$0.00$0.00$0.00$0.00$0.00