Civic Intelligence

Greater Lake City Community Foundation

EIN 45-5337894 • 501(c)3 • Lake City, MN

Profile

Community Foundation providing assistance for the betterment of the community. Pillars are Education, Community and Economic Development, Arts and Environment.

PO Box 86Lake City, MN 55041

www.lakecityfoundation.org

Siviq Scores

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

Liabilities / Assets

33rd percentile

0.00x

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

501(c)3 • $500k-$1M nonprofits • Source year 2024

Liabilities / Revenue

35th percentile

0.00x

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

501(c)3 • $500k-$1M nonprofits • Source year 2024

Net Margin

97th percentile

83%

Higher net margin than 97% of similar nonprofits.

501(c)3 • $500k-$1M nonprofits • Source year 2024

Top Officer Pay

56th percentile

$6,000

Higher top officer pay than 56% of similar nonprofits.

Top officer pay equals 2.1% of source-year revenue.

501(c)3 • $500k-$1M nonprofits • Source year 2024

Asset Growth

88th percentile

54%

Faster asset growth than 88% of similar nonprofits.

501(c)3 • $500k-$1M nonprofits • Annualized from 2023 to 2024

Revenue Growth

91st percentile

107%

Faster revenue growth than 91% of similar nonprofits.

501(c)3 • $500k-$1M nonprofits • Annualized from 2023 to 2024

Balance Sheet
Liabilities / Assets33rd percentile

Assets

Up

$846,137

Up $298,433 (+54%) from 2023

Liabilities

Flat

$0

Flat from 2023

Net Assets

Up

$846,137

Up $298,433 (+54%) from 2023

Operations
Liabilities / Revenue35th percentileNet Margin97th percentile

Revenue

Up

$288,254

Up $149,324 (+107%) from 2023

Expenses

Up

$49,320

Up $8,912 (+22%) from 2023

Net Income

Up

$238,934

Up $140,412 (+143%) from 2023

Trend Graphs

Balance Sheet Trend

Asset Growth88th percentile

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

$1.0M$500K$0Assets 2020: $256,838Liabilities 2020: $0Net Assets 2020: $256,8382020Assets 2021: $414,083Liabilities 2021: $0Net Assets 2021: $414,0832021Assets 2022: $379,013Liabilities 2022: $0Net Assets 2022: $379,0132022Assets 2023: $547,704Liabilities 2023: $0Net Assets 2023: $547,7042023Assets 2024: $846,137Liabilities 2024: $0Net Assets 2024: $846,1372024

Highlighted filing

2024

Assets$846,137
Liabilities$0
Net Assets$846,137
Open 2024 Filing

Operations Trend

Revenue Growth91st percentile

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

$300K$200K$100K$0Revenue 2020: $50,019Expenses 2020: $15,574Net Income 2020: $34,4452020Revenue 2021: $145,094Expenses 2021: $21,212Net Income 2021: $123,8822021Revenue 2022: $95,037Expenses 2022: $35,094Net Income 2022: $59,9432022Revenue 2023: $138,930Expenses 2023: $40,408Net Income 2023: $98,5222023Revenue 2024: $288,254Expenses 2024: $49,320Net Income 2024: $238,9342024

Highlighted filing

2024

Revenue$288,254
Expenses$49,320
Net Income$238,934
Open 2024 Filing

Filings

Most recent year

2024 • Form 990Facts available. Structured filing facts are available, but richer extracted sections are limited.

Open filing
Assets
$846,137
Liabilities
$0
Net assets
$846,137
Revenue
$288,254
Expenses
$49,320
Net income
$238,934
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Facts available. Structured filing facts are available, but richer extracted sections are limited.$8.46$0.00$8.46$2.88$0.49$2.39
2023XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$5.48$0.00$5.48$1.39$0.40$0.99
2022XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$3.79$0.00$3.79$0.95$0.35$0.60
2021Facts available. Structured filing facts are available, but richer extracted sections are limited.$4.14$0.00$4.14$1.45$0.21$1.24
2020Facts available. Structured filing facts are available, but richer extracted sections are limited.$2.57$0.00$2.57$0.50$0.16$0.34
Latest Filing Detail
Jump To
Filing Snapshot
Filing Period
Jan 1, 2024 to Dec 31, 2024
Signed
May 13, 2025
Return Version
2024v5.1
Gross Receipts
$288,254
Mission and Program Overview

Mission

Community Foundation providing assistance for the betterment of the community. Pillars are Education, Community and Economic Development, Arts and Environment.

Community Foundation providing assistance to provide for a better community. Pillars are Environment, Arts, Community and Economic Development and Education.

Balance Sheet Detail
LineBeginningEndChange
Assets
Investments Other Securities$527,026$833,051▲ $306,025
Cash and Non-Interest-Bearing Accounts$15,028$7,125▼ $7,903
Savings and Temporary Cash Investments$5,650$5,961▲ $311
Total Assets$547,704$846,137▲ $298,433
Liabilities
Total Liabilities$0$0→ $0
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$508,926$660,390▲ $151,464
Net Assets With Donor Restrictions$38,778$185,747▲ $146,969
Total Net Assets Fund Balance$547,704$846,137▲ $298,433
Total Liabilities and Net Assets / Fund Balance$547,704$846,137▲ $298,433

Asset Categories

AssetBook ValueDepreciationBasis
Other Securities$833,051--
Compensation and Service Providers
Top Officer Pay56th percentile

Employees

NameTitleFull / Part TimeBaseTotal
Bruce CarlstromSecretaryPT$6,000$6,000

Board Members and Trustees

NameTitle
Peter CoyleChairman
Beth KrehbielPresident
Ann NibbeDirector
Erika BlimDirector
Gregory LangfieldDirector
Jolene HarveyDirector
Mark NicholsDirector
Peg MattkeDirector
Heather BanksAsst Treasurer
Steven LangTreasurer
Revenue and Support

Revenue Composition

Contributions and Grants
$259,665
Program Service Revenue
$0
Investment Income
$28,589
Other Revenue
$0
All Other Contributions
$259,665
Change in Net Assets
$238,934
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Grants and Similar Amounts Paid$34,784
Other Expenses$14,536
Professional Fundraising Fees$0
Salaries, Compensation, and Employee Benefits$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Grants to Domestic Orgs$34,784--$34,784
Fees for Services Management-$6,000-$6,000
Fees for Service Investment Mgmnt Fees-$4,149-$4,149
Advertising-$1,800-$1,800
Insurance-$1,078-$1,078
Fees for Services Accounting-$500-$500
Office Expenses-$412-$412
Other Expenses-$25-$25
Total Functional Expenses$34,784$14,536$0$49,320
International Activity

Grant and Assistance Recipients

RecipientLocationCategoryPurposeAmount
United WayRed Wing, MN--$10,000
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
Federal income taxes-
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
Yes
Backup withholding compliance
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
No
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, Part VII, Section A, Line 9

“Names and addresses of Directors who cannot be reached at organizations mailing address Beth D Krehbiel - 67680 County Rd 9, Lake City, MN 55041 Steven J Lang - 23849 289th St, Red Wing, MN 55066 Heather Banks - 217 N High St, Lake City, MN 55041 Jolene Harvey - 39861 County Rd 33, Lake City, MN 55041 Gregory Langfield - 1003 Hidden Meadow Ln, Lake City, MN 55041 Peter Coyle - 1509 S Oak St, Lake City, MN 55041 Mark Nichols - 1951 S Oak St, Lake City, MN 55041 Peg Mattke - 320 Central Point Rd, Lake City, MN 55041 Ann Nibbe - 1300 W Marion St, Lake City, MN 55041 Erika Blim - 65857 386th Ave, Lake City, MN 55041”

Form 990, Part VI, Section C, Line 19

“Financial information has been provided in the past to donors in a Newsletter published two times a year. The availability of governing documents, IRS Form 990 and the Conflict of Interest Policy are included in newletters and on the website.”

Filing and Contact Details

Filer

Filer Name
Greater Lake City Community Foundation
EIN
45-5337894
Phone
6513803312
Address
PO BOX 86, LAKE CITY, MN 55041

Signing Officer

Name
Bruce Carlstrom
Title
Secretary
Phone
6513803312
Signed
2025-05-13
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Bruce Carlstrom
Formed
2012
Legal Domicile
Mn
Voting Board Members
10
Independent Board Members
10
Employees
0

Preparer

Firm
LA Anderson CPA
Address
116 S Lakeshore Drive, Lake City, MN 55041
Preparer
Lori A Anderson
Phone
6513455323
Supplemental Narrative

Additional Explanations

Form 990, Part IV, Section B, Line 11A

“Form 990 was provided to the members of the board of directors via email prior to board meeting and accepted by resolution at regular monthly board meeting.”

Raw XML AppendixShowing 400 of 416 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/GiftsGrantsContriRcvd170Grp/CurrentTaxYearMinus3YearsAmt0130237
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/CurrentTaxYearMinus4YearsAmt044136
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/TotalAmt0645519
IRS990ScheduleA/GrossInvestmentIncome170Grp/CurrentTaxYearAmt028584
IRS990ScheduleA/GrossInvestmentIncome170Grp/CurrentTaxYearMinus1YearAmt014707
IRS990ScheduleA/GrossInvestmentIncome170Grp/CurrentTaxYearMinus2YearsAmt09879
IRS990ScheduleA/GrossInvestmentIncome170Grp/CurrentTaxYearMinus3YearsAmt013467
IRS990ScheduleA/GrossInvestmentIncome170Grp/CurrentTaxYearMinus4YearsAmt05883
IRS990ScheduleA/GrossInvestmentIncome170Grp/TotalAmt072520
IRS990ScheduleA/PublicOrganization170Ind0X
IRS990ScheduleA/PublicSupportCY170Pct00.89900
IRS990ScheduleA/PublicSupportPY170Pct00.89790
IRS990ScheduleA/PublicSupportTotal170Amt0645519
IRS990ScheduleA/ThirtyThrPctSuprtTestsCY170Ind0X
IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearAmt0261765
IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearMinus1YearAmt0124223
IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearMinus2YearsAmt085158
IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearMinus3YearsAmt0130237
IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearMinus4YearsAmt044136
IRS990ScheduleA/TotalCalendarYear170Grp/TotalAmt0645519
IRS990ScheduleA/TotalSupportAmt0718039
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
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IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc0Federal income taxes
IRS990ScheduleD/OtherSecuritiesGrp/BookValueAmt0833051
IRS990ScheduleD/OtherSecuritiesGrp/Desc0Financial derivatives and other financial products
IRS990ScheduleD/OtherSecuritiesGrp/Desc1Closely-held equity interests
IRS990ScheduleD/TotalBookValueSecuritiesAmt0833051
IRS990ScheduleI/GrantRecordsMaintainedInd0true
IRS990ScheduleI/RecipientTable/CashGrantAmt010000
IRS990ScheduleI/RecipientTable/RecipientBusinessName/BusinessNameLine1Txt0United Way
IRS990ScheduleI/RecipientTable/USAddress/AddressLine1Txt01755 Old West Main St
IRS990ScheduleI/RecipientTable/USAddress/CityNm0Red Wing
IRS990ScheduleI/RecipientTable/USAddress/StateAbbreviationCd0MN
IRS990ScheduleI/RecipientTable/USAddress/ZIPCd055066
IRS990ScheduleI/TotalOtherOrgCnt01
IRS990ScheduleJ/AnyNonFixedPaymentsInd0false
IRS990ScheduleJ/CompBasedOnRevenueOfFlngOrgInd0false
IRS990ScheduleJ/CompBsdNetEarnsFlngOrgInd0false
IRS990ScheduleJ/CompBsdNetEarnsRltdOrgsInd0false
IRS990ScheduleJ/CompBsdOnRevRelatedOrgsInd0false
IRS990ScheduleJ/InitialContractExceptionInd0false
IRS990/ScheduleJRequiredInd0false
IRS990/ScheduleORequiredInd0true
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0Names and addresses of Directors who cannot be reached at organizations mailing address Beth D Krehbiel - 67680 County Rd 9, Lake City, MN 55041 Steven J Lang - 23849 289th St, Red Wing, MN 55066 Heather Banks - 217 N High St, Lake City, MN 55041 Jolene Harvey - 39861 County Rd 33, Lake City, MN 55041 Gregory Langfield - 1003 Hidden Meadow Ln, Lake City, MN 55041 Peter Coyle - 1509 S Oak St, Lake City, MN 55041 Mark Nichols - 1951 S Oak St, Lake City, MN 55041 Peg Mattke - 320 Central Point Rd, Lake City, MN 55041 Ann Nibbe - 1300 W Marion St, Lake City, MN 55041 Erika Blim - 65857 386th Ave, Lake City, MN 55041
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1Form 990 was provided to the members of the board of directors via email prior to board meeting and accepted by resolution at regular monthly board meeting.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2Financial information has been provided in the past to donors in a Newsletter published two times a year. The availability of governing documents, IRS Form 990 and the Conflict of Interest Policy are included in newletters and on the website.
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0Form 990, Part VII, Section A, Line 9
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1Form 990, Part IV, Section B, Line 11A
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2Form 990, Part VI, Section C, Line 19
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IRS990/SignificantChangeInd0false
IRS990/SignificantNewProgramSrvcInd0false
IRS990/StatesWhereCopyOfReturnIsFldCd0MN
IRS990/SubjectToExcsTaxNetInvstIncInd0false
IRS990/SubjectToProxyTaxInd0false
IRS990/SubjToTaxRmnrtnExPrchtPymtInd0false
IRS990/TaxableDistributionsInd0false
IRS990/TaxablePartyNotificationInd0false
IRS990/TaxExemptBondsInd0false
IRS990/TerminateOperationsInd0false
IRS990/TotalAssetsBOYAmt0547704
IRS990/TotalAssetsEOYAmt0846137
IRS990/TotalAssetsGrp/BOYAmt0547704
IRS990/TotalAssetsGrp/EOYAmt0846137
IRS990/TotalCompGreaterThan150KInd0false
IRS990/TotalContributionsAmt0259665
IRS990/TotalEmployeeCnt00
IRS990/TotalFunctionalExpensesGrp/FundraisingAmt00
IRS990/TotalFunctionalExpensesGrp/ManagementAndGeneralAmt014536
IRS990/TotalFunctionalExpensesGrp/ProgramServicesAmt034784
IRS990/TotalFunctionalExpensesGrp/TotalAmt049320
IRS990/TotalGrossUBIAmt00
IRS990/TotalLiabilitiesEOYAmt00
IRS990/TotalLiabilitiesGrp/BOYAmt00
IRS990/TotalLiabilitiesGrp/EOYAmt00
IRS990/TotalNetAssetsFundBalanceGrp/BOYAmt0547704
IRS990/TotalNetAssetsFundBalanceGrp/EOYAmt0846137
IRS990/TotalOtherProgSrvcExpenseAmt018629
IRS990/TotalProgramServiceExpensesAmt034784
IRS990/TotalReportableCompFromOrgAmt06000
IRS990/TotalRevenueGrp/TotalRevenueColumnAmt0288254
IRS990/TotLiabNetAssetsFundBalanceGrp/BOYAmt0547704
IRS990/TotLiabNetAssetsFundBalanceGrp/EOYAmt0846137
IRS990/TravelGrp/TotalAmt00
IRS990/TrnsfrExmptNonChrtblRltdOrgInd0false
IRS990/TypeOfOrganizationCorpInd0X
IRS990/UnrelatedBusIncmOverLimitInd0false
IRS990/UponRequestInd0X
IRS990/USAddress/AddressLine1Txt02528 Clubhouse Drive
IRS990/USAddress/CityNm0Lake City
IRS990/USAddress/StateAbbreviationCd0MN
IRS990/USAddress/ZIPCd055041
IRS990/VotingMembersGoverningBodyCnt010
IRS990/VotingMembersIndependentCnt010
IRS990/WebsiteAddressTxt0www.lakecityfoundation.org
IRS990/WhistleblowerPolicyInd0false
ReturnHeader/BuildTS02025-03-06 01:10:19Z
ReturnHeader/BusinessOfficerGrp/DiscussWithPaidPreparerInd0true
ReturnHeader/BusinessOfficerGrp/PersonNm0BRUCE CARLSTROM
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0SECRETARY
ReturnHeader/BusinessOfficerGrp/PhoneNum06513803312
ReturnHeader/BusinessOfficerGrp/SignatureDt02025-05-13
ReturnHeader/Filer/BusinessName/BusinessNameLine1Txt0GREATER LAKE CITY COMMUNITY FOUNDATION
ReturnHeader/Filer/BusinessNameControlTxt0GREA
ReturnHeader/Filer/EIN0455337894
ReturnHeader/Filer/PhoneNum06513803312
ReturnHeader/Filer/USAddress/AddressLine1Txt0PO BOX 86
ReturnHeader/Filer/USAddress/CityNm0LAKE CITY
ReturnHeader/Filer/USAddress/StateAbbreviationCd0MN

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