Civic Intelligence

Leech Lake Financial Services Inc.

990 • Fiscal year 2016 • EIN 46-2579700

Jan 01, 2016 to Dec 31, 2016 • Filed on Jul 25, 2017

Organization ProfileN/A
PO Box 848Cass Lake, MN 56633

(218) 339-3940

Siviq Scores

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

Liabilities / Assets

73rd percentile

0.23x

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

2016 filings • 501(c)3 • $500k-$1M nonprofits • Source year 2016

Liabilities / Revenue

84th percentile

0.49x

Higher debt load relative to revenue than 84% of similar nonprofits.

2016 filings • 501(c)3 • $500k-$1M nonprofits • Source year 2016

Net Margin

18th percentile

-14%

Higher net margin than 18% of similar nonprofits.

2016 filings • 501(c)3 • $500k-$1M nonprofits • Source year 2016

Top Officer Pay

49th percentile

$0

Higher top officer pay than 49% of similar nonprofits.

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

2016 filings • 501(c)3 • $500k-$1M nonprofits • Source year 2016

Asset Growth

67th percentile

8.5%

Faster asset growth than 67% of similar nonprofits.

2016 filings • 501(c)3 • $500k-$1M nonprofits • Annualized from 2015 to 2016

Revenue Growth

5th percentile

-55%

Faster revenue growth than 5% of similar nonprofits.

2016 filings • 501(c)3 • $500k-$1M nonprofits • Annualized from 2015 to 2016

Balance Sheet
Liabilities / Assets73rd percentile

Assets

Up

$790,325

Up $62,174 (+8.5%) from 2015

Net Assets

Down

$605,548

Down $52,313 (-8.0%) from 2015

Liabilities

Up

$184,777

Up $114,487 (+163%) from 2015

Revenue And Expenses
Liabilities / Revenue84th percentileNet Margin18th percentile

Revenue

Down

$377,083

Down $457,346 (-55%) from 2015

Expenses

Up

$431,024

Up $75,417 (+21%) from 2015

Net Income

Down

-$53,941

Down $532,763 (-111%) from 2015

Historical Trend

Balance Sheet Trend

Asset Growth67th percentile

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

$2.0M$1.5M$1.0M$500K$0Assets 2014: $237,198Liabilities 2014: $59,477Net Assets 2014: $177,7212014Assets 2015: $728,151Liabilities 2015: $70,290Net Assets 2015: $657,8612015Assets 2016: $790,325Liabilities 2016: $184,777Net Assets 2016: $605,5482016Assets 2017: $648,306Liabilities 2017: $179,710Net Assets 2017: $468,5962017Assets 2018: $846,645Liabilities 2018: $332,012Net Assets 2018: $514,6332018Assets 2019: $862,551Liabilities 2019: $490,044Net Assets 2019: $372,5072019Assets 2020: $1,036,593Liabilities 2020: $480,860Net Assets 2020: $555,7332020Assets 2021: $1,315,355Liabilities 2021: $642,466Net Assets 2021: $672,8892021Assets 2022: $1,772,149Liabilities 2022: $1,096,085Net Assets 2022: $676,0642022Assets 2023: $1,732,951Liabilities 2023: $1,145,499Net Assets 2023: $587,4522023

Highlighted filing

2016

Assets$790,325
Liabilities$184,777
Net Assets$605,548
Open 2016 Filing

Operations Trend

Revenue Growth5th percentile

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

$1.0M$500K$0-$500KRevenue 2014: $82,115Expenses 2014: $78,808Net Income 2014: $3,3072014Revenue 2015: $834,429Expenses 2015: $355,607Net Income 2015: $478,8222015Revenue 2016: $377,083Expenses 2016: $431,024Net Income 2016: -$53,9412016Revenue 2017: $314,433Expenses 2017: $451,936Net Income 2017: -$137,5032017Revenue 2018: $474,371Expenses 2018: $427,632Net Income 2018: $46,7392018Revenue 2019: $270,357Expenses 2019: $412,483Net Income 2019: -$142,1262019Revenue 2020: $512,951Expenses 2020: $329,725Net Income 2020: $183,2262020Revenue 2021: $593,731Expenses 2021: $476,575Net Income 2021: $117,1562021Revenue 2022: $704,238Expenses 2022: $701,063Net Income 2022: $3,1752022Revenue 2023: $789,469Expenses 2023: $878,081Net Income 2023: -$88,6122023

Highlighted filing

2016

Revenue$377,083
Expenses$431,024
Net Income-$53,941
Open 2016 Filing
Jump To
Filing Snapshot
Filing Period
Jan 1, 2016 to Dec 31, 2016
Signed
Jul 25, 2017
Return Version
2016v3.0
Gross Receipts
$377,660
Mission and Program Overview

Mission

To promote economic development by providing safe, affordable loans and financial training.

To promote economic development by providing safe, affordable loans and financial training

Balance Sheet Detail
LineBeginningEndChange
Assets
Savings and Temporary Cash Investments$298,582$363,788▲ $65,206
Other Notes and Loans Receivable, Net$396,445$342,727▼ $53,718
Land, Buildings, and Equipment, Net$17,388$64,567▲ $47,179
Accounts Receivable$4,792$5,434▲ $642
Total Assets$728,151$790,325▲ $62,174
Other Assets Total$10,944$13,809▲ $2,865
Liabilities
Deferred Revenue-$85,156-
Other Liabilities$49,000$66,935▲ $17,935
Accounts Payable and Accrued Expenses$21,290$32,686▲ $11,396
Total Liabilities$70,290$184,777▲ $114,487
Net Assets / Fund Balance
Temporarily Rstr Net Assets$409,301$409,301→ $0
Unrestricted Net Assets$248,560$196,247▼ $52,313
Total Net Assets Fund Balance$657,861$605,548▼ $52,313
Total Liabilities and Net Assets / Fund Balance$728,151$790,325▲ $62,174

Asset Categories

AssetBook ValueDepreciationBasis
Buildings$46,327$586$46,913
Equipment$18,240$6,550$24,790
Compensation and Service Providers
Top Officer Pay49th percentile

Board Members and Trustees

NameTitle
Benay FairbanksChair
John RobinsonVice Chair
Amarin ChanthornDirector
Sarah KueselDirector
Terry MattsonDirector
Veronica VeauxDirector
Breanna MiettinenSecretary
William EthierTreasurer
Revenue and Support

Revenue Composition

Contributions and Grants
$330,979
Program Service Revenue
$34,681
Investment Income
$0
Other Revenue
$11,423
Change in Net Assets
$-53,941

Audited Revenue Reconciliation

Revenue per Audited Statements
$377,083
Total Revenue per Audited Statements
$377,083
Total Revenue per Form 990
$377,083
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Salaries, Compensation, and Employee Benefits$228,415
Other Expenses$202,609
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Current Officers, Directors, Trustees, and Key Employees$105,393$92,434$0$197,827
Other Expenses$26,280$8,007$0$34,287
Occupancy$6,750$14,229$0$20,979
All Other Expenses$6,451$12,930$0$19,381
Payroll Taxes$8,589$7,252$0$15,841
Other Employee Benefits$5,932$8,815$0$14,747
Travel$12,235$0$0$12,235
Depreciation Depletion$651$5,267$0$5,918
Conferences and Meetings$3,569$0$0$3,569
Office Expenses$124$0$0$124
Total Functional Expenses$278,393$152,631$0$431,024

Audited Expense Reconciliation

Line ItemAmount
Total Expenses per Form 990$431,024
Expenses per Audited Statements$429,396
Total Expenses per Audited Statements$429,396
Expenses Not Reported on Financial Statements$1,628
Other Expense Adjustments$1,628
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
Note Payable - Bank$47,824
Line of Credit$15,000
Note Payable - Leech Lake Gaming$4,111
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
No
Audit committee
Yes
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
Yes
Key decisions subject to board approval
No
Management duties delegated
No
Filing and Contact Details

Filer

Filer Name
Leech Lake Financial Services Inc
EIN
46-2579700
Phone
2183393940
Address
PO BOX 848, CASS LAKE, MN 56633

Signing Officer

Name
Breanna Miettinen
Title
Secretary
Phone
2183393940
Signed
2017-07-25
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Benay Fairbanks
Formed
2014
Legal Domicile
Mn
Voting Board Members
8
Independent Board Members
8
Employees
8
Volunteers
0

Preparer

Firm
Overmoe & Nelson Ltd
Address
200 1ST AVE N STE 30, GRAND FORKS, ND 58203
Preparer
Michelle K Solsten CPA
Phone
2184351988
Supplemental Narrative

Additional Explanations

Pt III, Line 2

“Aki development llc was set up to help further the economic development opportunities for the tribe”

Pt VI, Line 12C

“Conflicts, if any, are disclosed at board meetings”

Pt VI, Line 11B

“Return is presented to all board members for approval at a board meeting”

Pt XI

“BOOK TO TAX DIFFERENCES”

Form 990EZ, Part I, Line 16

“FEES”

Form 990EZ, Part I, Line 16

“OPERATIONS”

Form 990EZ, Part I, Line 16

“MEMBERSHIPS”

Form 990EZ, Part I, Line 16

“INTEREST”

Form 990EZ, Part I, Line 16

“Community trainings and meetings”

Form 990EZ, Part I, Line 16

“TRAVEL AND MEETINGS”

Form 990EZ, Part II, Line 24

“LOANS RECEIVABLE”

Form 990EZ, Part II, Line 26

“DUE TO GAMING”

Form 990EZ, Part II, Line 26

“PAYROLL LIABILITIES”

Form 990EZ, Part II, Line 26

“BENEFITS PAYABLE”

Form 990, Part IX, Line 24E

“Supplies 19381. 6451. 12930. 0.”

Financial Statement Notes

Pt XII, Line 4B

“Tax depreciation is $1628 more than book depreciation”

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IRS990/RelatedOrganizationCtrlEntInd0false
IRS990/ReportInvestmentsOtherSecInd0false
IRS990/ReportLandBuildingEquipmentInd0true
IRS990/ReportOtherAssetsInd0false
IRS990/ReportOtherLiabilitiesInd0true
IRS990/ReportProgramRelatedInvstInd0false
IRS990/RevenueAmt098399
IRS990/SavingsAndTempCashInvstGrp/BOYAmt0298582
IRS990/SavingsAndTempCashInvstGrp/EOYAmt0363788
IRS990ScheduleA/GovernmentalUnitInd0X
IRS990ScheduleA/GrossInvestmentIncome170Grp/TotalAmt00
IRS990ScheduleA/InvestmentIncomeCYPct00
IRS990ScheduleA/PublicSupportCY170Pct00
IRS990ScheduleA/PublicSupportCY509Pct00
IRS990ScheduleA/PublicSupportTotal170Amt00
IRS990ScheduleA/PublicSupportTotal509Amt00
IRS990/ScheduleBRequiredInd0false
IRS990ScheduleD/BuildingsGrp/BookValueAmt046327
IRS990ScheduleD/BuildingsGrp/DepreciationAmt0586
IRS990ScheduleD/BuildingsGrp/OtherCostOrOtherBasisAmt046913
IRS990ScheduleD/EquipmentGrp/BookValueAmt018240
IRS990ScheduleD/EquipmentGrp/DepreciationAmt06550
IRS990ScheduleD/EquipmentGrp/OtherCostOrOtherBasisAmt024790
IRS990ScheduleD/ExpensesNotRptFinclStmtAmt01628
IRS990ScheduleD/ExpensesSubtotalAmt0429396
IRS990ScheduleD/OtherExpensesNotIncludedAmt01628
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt04111
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt115000
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt247824
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc0NOTE PAYABLE - LEECH LAKE GAMING
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc1LINE OF CREDIT
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc2NOTE PAYABLE - BANK
IRS990ScheduleD/RevenueSubtotalAmt0377083
IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt0TAX DEPRECIATION IS $1628 MORE THAN BOOK DEPRECIATION
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc0Pt XII, Line 4b
IRS990ScheduleD/TotalBookValueLandBuildingsAmt064567
IRS990ScheduleD/TotalExpensesPerForm990Amt0431024
IRS990ScheduleD/TotalLiabilityAmt066935
IRS990ScheduleD/TotalRevenuePerForm990Amt0377083
IRS990ScheduleD/TotalRevEtcAuditedFinclStmtAmt0377083
IRS990ScheduleD/TotExpnsEtcAuditedFinclStmtAmt0429396
IRS990/ScheduleJRequiredInd0false
IRS990/ScheduleORequiredInd0true
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0AKI DEVELOPMENT LLC WAS SET UP TO HELP FURTHER THE ECONOMIC DEVELOPMENT OPPORTUNITIES FOR THE TRIBE
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1CONFLICTS, IF ANY, ARE DISCLOSED AT BOARD MEETINGS
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2RETURN IS PRESENTED TO ALL BOARD MEMBERS FOR APPROVAL AT A BOARD MEETING
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3BOOK TO TAX DIFFERENCES
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt4FEES
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt5OPERATIONS
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt6MEMBERSHIPS
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt7INTEREST
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt8COMMUNITY TRAININGS AND MEETINGS
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt9TRAVEL AND MEETINGS
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt10LOANS RECEIVABLE
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt11DUE TO GAMING
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt12PAYROLL LIABILITIES
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt13BENEFITS PAYABLE
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt14SUPPLIES 19381. 6451. 12930. 0.
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0Pt III, Line 2
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1Pt VI, Line 12c
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2Pt VI, Line 11b
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3Pt XI
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc4Form 990EZ, Part I, Line 16
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc5Form 990EZ, Part I, Line 16
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc6Form 990EZ, Part I, Line 16
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc7Form 990EZ, Part I, Line 16
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc8Form 990EZ, Part I, Line 16
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc9Form 990EZ, Part I, Line 16
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc10Form 990EZ, Part II, Line 24
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc11Form 990EZ, Part II, Line 26
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc12Form 990EZ, Part II, Line 26
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc13Form 990EZ, Part II, Line 26
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc14Form 990, Part IX, Line 24e
IRS990ScheduleR/IdDisregardedEntitiesGrp/DirectControllingEntityName/BusinessNameLine1Txt0LEECH LAKE FINANCIAL SERVICES
IRS990ScheduleR/IdDisregardedEntitiesGrp/DisregardedEntityName/BusinessNameLine1Txt0AKI DEVELOPMENT LLC
IRS990ScheduleR/IdDisregardedEntitiesGrp/EIN0474193570
IRS990ScheduleR/IdDisregardedEntitiesGrp/EndOfYearAssetsAmt013794
IRS990ScheduleR/IdDisregardedEntitiesGrp/LegalDomicileStateCd0MN
IRS990ScheduleR/IdDisregardedEntitiesGrp/PrimaryActivitiesTxt0ECONOMIC DEVELOPMENT
IRS990ScheduleR/IdDisregardedEntitiesGrp/TotalIncomeAmt076823
IRS990ScheduleR/IdDisregardedEntitiesGrp/USAddress/AddressLine1Txt0PO BOX 848
IRS990ScheduleR/IdDisregardedEntitiesGrp/USAddress/CityNm0CASS LAKE
IRS990ScheduleR/IdDisregardedEntitiesGrp/USAddress/StateAbbreviationCd0MN
IRS990ScheduleR/IdDisregardedEntitiesGrp/USAddress/ZIPCd056633
IRS990/SchoolOperatingInd0false
IRS990/SignificantChangeInd0false
IRS990/SignificantNewProgramSrvcInd0true
IRS990/StatesWhereCopyOfReturnIsFldCd0MN
IRS990/SubjectToProxyTaxInd0false
IRS990/TaxablePartyNotificationInd0false
IRS990/TaxExemptBondsInd0false
IRS990/TemporarilyRstrNetAssetsGrp/BOYAmt0409301
IRS990/TemporarilyRstrNetAssetsGrp/EOYAmt0409301
IRS990/TempOrPermanentEndowmentsInd0false
IRS990/TerminateOperationsInd0false
IRS990/TotalAssetsBOYAmt0728151
IRS990/TotalAssetsEOYAmt0790325
IRS990/TotalAssetsGrp/BOYAmt0728151
IRS990/TotalAssetsGrp/EOYAmt0790325
IRS990/TotalCompGreaterThan150KInd0false
IRS990/TotalContributionsAmt0330979
IRS990/TotalEmployeeCnt08
IRS990/TotalFunctionalExpensesGrp/FundraisingAmt00
IRS990/TotalFunctionalExpensesGrp/ManagementAndGeneralAmt0152631
IRS990/TotalFunctionalExpensesGrp/ProgramServicesAmt0278393
IRS990/TotalFunctionalExpensesGrp/TotalAmt0431024
IRS990/TotalGrossUBIAmt00
IRS990/TotalLiabilitiesBOYAmt070290
IRS990/TotalLiabilitiesEOYAmt0184777
IRS990/TotalLiabilitiesGrp/BOYAmt070290
IRS990/TotalLiabilitiesGrp/EOYAmt0184777
IRS990/TotalNetAssetsFundBalanceGrp/BOYAmt0657861
IRS990/TotalNetAssetsFundBalanceGrp/EOYAmt0605548
IRS990/TotalProgramServiceExpensesAmt0278393
IRS990/TotalProgramServiceRevenueAmt034681
IRS990/TotalRevenueGrp/RelatedOrExemptFuncIncomeAmt046104
IRS990/TotalRevenueGrp/TotalRevenueColumnAmt0377083
IRS990/TotalVolunteersCnt00
IRS990/TotLiabNetAssetsFundBalanceGrp/BOYAmt0728151
IRS990/TotLiabNetAssetsFundBalanceGrp/EOYAmt0790325
IRS990/TransactionWithControlEntInd0false
IRS990/TravelGrp/FundraisingAmt00
IRS990/TravelGrp/ManagementAndGeneralAmt00
IRS990/TravelGrp/ProgramServicesAmt012235
IRS990/TravelGrp/TotalAmt012235
IRS990/TypeOfOrganizationCorpInd0X
IRS990/UnrelatedBusIncmOverLimitInd0false
IRS990/UnrestrictedNetAssetsGrp/BOYAmt0248560
IRS990/UnrestrictedNetAssetsGrp/EOYAmt0196247
IRS990/UponRequestInd0X
IRS990/USAddress/AddressLine1Txt0115 SIXTH ST NW
IRS990/USAddress/CityNm0CASS LAKE
IRS990/USAddress/StateAbbreviationCd0MN
IRS990/USAddress/ZIPCd056633
IRS990/VotingMembersGoverningBodyCnt08
IRS990/VotingMembersIndependentCnt08
IRS990/WebsiteAddressTxt0N/A
IRS990/WhistleblowerPolicyInd0false
ReturnHeader/BuildTS02017-02-10 21:41:12Z
ReturnHeader/BusinessOfficerGrp/DiscussWithPaidPreparerInd0true
ReturnHeader/BusinessOfficerGrp/PersonNm0BREANNA MIETTINEN

Document Assets

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Filings

Displayed year

2016 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$790,325
Liabilities
$184,777
Net assets
$605,548
Revenue
$377,083
Expenses
$431,024
Net income
-$53,941
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2023Detailed filing. Detailed filing data is available for this year.$1.73$1.15$0.59$0.79$0.88$0.09
2022Detailed filing. Detailed filing data is available for this year.$1.77$1.10$0.68$0.70$0.70$0.00
2021Detailed filing. Detailed filing data is available for this year.$1.32$0.64$0.67$0.59$0.48$0.12
2020Detailed filing. Detailed filing data is available for this year.$1.04$0.48$0.56$0.51$0.33$0.18
2019Detailed filing. Detailed filing data is available for this year.$0.86$0.49$0.37$0.27$0.41$0.14
2018Detailed filing. Detailed filing data is available for this year.$0.85$0.33$0.51$0.47$0.43$0.05
2017Detailed filing. Detailed filing data is available for this year.$0.65$0.18$0.47$0.31$0.45$0.14
2016Detailed filing. Detailed filing data is available for this year.$0.79$0.18$0.61$0.38$0.43$0.05
2015Summary only. Only limited summary data is available for this year.$0.73$0.07$0.66$0.83$0.36$0.48
2014Detailed filing. Detailed filing data is available for this year.$0.24$0.06$0.18$0.08$0.08$0.00