Civic Intelligence

Leech Lake Financial Services Inc.

990 • Fiscal year 2019 • EIN 46-2579700

Jan 01, 2019 to Dec 31, 2019 • Filed on Nov 12, 2020

Organization ProfileWWW.LLFINANCIAL.ORG
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

87th percentile

0.57x

Higher debt load relative to assets than 87% of similar nonprofits.

2019 filings • 501(c)3 • $500k-$1M nonprofits • Source year 2019

Liabilities / Revenue

94th percentile

1.81x

Higher debt load relative to revenue than 94% of similar nonprofits.

2019 filings • 501(c)3 • $500k-$1M nonprofits • Source year 2019

Net Margin

5th percentile

-53%

Higher net margin than 5% of similar nonprofits.

2019 filings • 501(c)3 • $500k-$1M nonprofits • Source year 2019

Top Officer Pay

50th percentile

$0

Higher top officer pay than 50% of similar nonprofits.

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

2019 filings • 501(c)3 • $500k-$1M nonprofits • Source year 2019

Asset Growth

46th percentile

1.9%

Faster asset growth than 46% of similar nonprofits.

2019 filings • 501(c)3 • $500k-$1M nonprofits • Annualized from 2018 to 2019

Revenue Growth

7th percentile

-43%

Faster revenue growth than 7% of similar nonprofits.

2019 filings • 501(c)3 • $500k-$1M nonprofits • Annualized from 2018 to 2019

Balance Sheet
Liabilities / Assets87th percentile

Assets

Up

$862,551

Up $15,906 (+1.9%) from 2018

Net Assets

Down

$372,507

Down $142,126 (-28%) from 2018

Liabilities

Up

$490,044

Up $158,032 (+48%) from 2018

Revenue And Expenses
Liabilities / Revenue94th percentileNet Margin5th percentile

Revenue

Down

$270,357

Down $204,014 (-43%) from 2018

Expenses

Down

$412,483

Down $15,149 (-3.5%) from 2018

Net Income

Down

-$142,126

Down $188,865 (-404%) from 2018

Historical Trend

Balance Sheet Trend

Asset Growth46th 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

2019

Assets$862,551
Liabilities$490,044
Net Assets$372,507
Open 2019 Filing

Operations Trend

Revenue Growth7th 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

2019

Revenue$270,357
Expenses$412,483
Net Income-$142,126
Open 2019 Filing
Jump To
Filing Snapshot
Filing Period
Jan 1, 2019 to Dec 31, 2019
Signed
Nov 12, 2020
Return Version
2019v5.1
Gross Receipts
$270,357
Mission and Program Overview

Mission

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

Balance Sheet Detail
LineBeginningEndChange
Assets
Cash and Non-Interest-Bearing Accounts$360,312$376,263▲ $15,951
Other Notes and Loans Receivable, Net$272,228$348,037▲ $75,809
Land, Buildings, and Equipment, Net$68,601$110,687▲ $42,086
Pledges and Grants Receivable$145,504$15,244▼ $130,260
Accounts Receivable-$12,320-
Total Assets$846,645$862,551▲ $15,906
Liabilities
Other Liabilities$278,798$410,259▲ $131,461
Accounts Payable and Accrued Expenses$35,861$77,165▲ $41,304
Deferred Revenue$17,353$2,620▼ $14,733
Total Liabilities$332,012$490,044▲ $158,032
Net Assets / Fund Balance
Net Assets With Donor Restrictions$496,588$385,783▼ $110,805
Net Assets Without Donor Restrictions$18,045$-13,276▼ $31,321
Total Net Assets Fund Balance$514,633$372,507▼ $142,126
Total Liabilities and Net Assets / Fund Balance$846,645$862,551▲ $15,906

Asset Categories

AssetBook ValueDepreciationBasis
Buildings$57,717$5,245$62,962
Other Land Buildings$45,264-$45,264
Equipment$7,706$17,084$24,790
Compensation and Service Providers
Top Officer Pay50th percentile

Board Members and Trustees

NameTitle
William EthierChair
Jaimee MeyerVice Chair
Gordon FinedayDirector
Katie GuthrieDirector
Sarah KueselDirector
Breanna MiettinenSecretary
Jeff EverhartTreasurer
Revenue and Support

Revenue Composition

Contributions and Grants
$223,321
Program Service Revenue
$47,036
Investment Income
$0
Other Revenue
$0
Change in Net Assets
$-142,126

Audited Revenue Reconciliation

Revenue per Audited Statements
$270,357
Revenue Not Reported on Financial Statements
$0
Revenue Not Reported on Form 990
$0
Total Revenue per Audited Statements
$270,357
Total Revenue per Form 990
$270,357
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Salaries, Compensation, and Employee Benefits$231,639
Other Expenses$180,844
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages$94,441$105,330-$199,771
Fees for Services Other$47,318--$47,318
Other Expenses$17,982$2,889-$20,871
Other Employee Benefits$7,116$9,950-$17,066
Office Expenses$2,332$13,644-$15,976
Payroll Taxes$7,016$7,786-$14,802
Interest$1,180$11,806-$12,986
Advertising$11,296--$11,296
Travel$9,973--$9,973
Fees for Services Accounting-$9,933-$9,933
Depreciation Depletion-$5,004-$5,004
Conferences and Meetings$4,562--$4,562
Occupancy-$3,432-$3,432
Total Functional Expenses$242,709$169,774$0$412,483

Audited Expense Reconciliation

Line ItemAmount
Expenses per Audited Statements$412,483
Total Expenses per Audited Statements$412,483
Total Expenses per Form 990$412,483
Expenses Not Reported on Financial Statements$0
Expenses Not Reported on Form 990$0
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$269,958
Line of Credit$134,985
Other$5,316
Governance and Compliance

Governance Checklist

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

Governance Explanations

Form 990, Part VI, Section B, Line 11B

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

Form 990, Part VI, Section B, Line 12C

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

Form 990, Part VI, Section C, Line 19

“All required documents to be made public are available upon request.”

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
William Ethier
Title
Chair
Phone
2183393940
Signed
2020-11-12
Discuss with paid preparer
Yes

Organization Details

Principal Officer
William Ethier
Formed
2014
Legal Domicile
Mn
Voting Board Members
7
Independent Board Members
7
Employees
4
Volunteers
7

Preparer

Firm
Miller Mcdonald Inc
Address
513 BELTRAMI AVE NW, BEMIDJI, MN 56601
Preparer
Jon Roscoe
Phone
2187516300
Supplemental Narrative

Additional Explanations

Form 990, Part III, Line 2

“Build one properties, llc was set up to help further the economic development opportunities for the tribe.”

Form 990, Part IX, Line 11G

“Program support: program service expenses 47,318. Management and general expenses 0. Fundraising expenses 0. Total expenses 47,318.”

Financial Statement Notes

PART X, LINE 2:

“The organization follows the recognition requirements for uncertain income tax positions as required by generally accepted accounting principles, with no cumulative effect adjustment required. The guidance prescribes recognition threshold principles for the financial statements recognition of tax positions taken or expected to be taken on a tax filing that are not certain to be realized. The implementation of this guidance had no impact on the organization's financial statements. The organization's tax filings are subject to review and examination by federal authorities. The organization is not aware of any activities that would jeopardize its tax exempt status, or any activities that are subject to tax on unrelated business income, or other taxes.”

Raw XML Appendix391 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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IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc2OTHER
IRS990ScheduleD/RevenueNotReportedAmt00
IRS990ScheduleD/RevenueNotReportedFinclStmtAmt00
IRS990ScheduleD/RevenueSubtotalAmt0270357
IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt0THE ORGANIZATION FOLLOWS THE RECOGNITION REQUIREMENTS FOR UNCERTAIN INCOME TAX POSITIONS AS REQUIRED BY GENERALLY ACCEPTED ACCOUNTING PRINCIPLES, WITH NO CUMULATIVE EFFECT ADJUSTMENT REQUIRED. THE GUIDANCE PRESCRIBES RECOGNITION THRESHOLD PRINCIPLES FOR THE FINANCIAL STATEMENTS RECOGNITION OF TAX POSITIONS TAKEN OR EXPECTED TO BE TAKEN ON A TAX FILING THAT ARE NOT CERTAIN TO BE REALIZED. THE IMPLEMENTATION OF THIS GUIDANCE HAD NO IMPACT ON THE ORGANIZATION'S FINANCIAL STATEMENTS. THE ORGANIZATION'S TAX FILINGS ARE SUBJECT TO REVIEW AND EXAMINATION BY FEDERAL AUTHORITIES. THE ORGANIZATION IS NOT AWARE OF ANY ACTIVITIES THAT WOULD JEOPARDIZE ITS TAX EXEMPT STATUS, OR ANY ACTIVITIES THAT ARE SUBJECT TO TAX ON UNRELATED BUSINESS INCOME, OR OTHER TAXES.
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc0PART X, LINE 2:
IRS990ScheduleD/TotalBookValueLandBuildingsAmt0110687
IRS990ScheduleD/TotalExpensesPerForm990Amt0412483
IRS990ScheduleD/TotalLiabilityAmt0410259
IRS990ScheduleD/TotalRevenuePerForm990Amt0270357
IRS990ScheduleD/TotalRevEtcAuditedFinclStmtAmt0270357
IRS990ScheduleD/TotExpnsEtcAuditedFinclStmtAmt0412483
IRS990/ScheduleJRequiredInd00
IRS990/ScheduleORequiredInd01
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0BUILD ONE PROPERTIES, LLC WAS SET UP TO HELP FURTHER THE ECONOMIC DEVELOPMENT OPPORTUNITIES FOR THE TRIBE.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1RETURN IS PRESENTED TO ALL BOARD MEMBERS FOR APPROVAL AT A BOARD MEETING
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2CONFLICTS, IF ANY, ARE DISCLOSED AT BOARD MEETINGS
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3ALL REQUIRED DOCUMENTS TO BE MADE PUBLIC ARE AVAILABLE UPON REQUEST.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt4PROGRAM SUPPORT: PROGRAM SERVICE EXPENSES 47,318. MANAGEMENT AND GENERAL EXPENSES 0. FUNDRAISING EXPENSES 0. TOTAL EXPENSES 47,318.
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0FORM 990, PART III, LINE 2
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1FORM 990, PART VI, SECTION B, LINE 11B
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2FORM 990, PART VI, SECTION B, LINE 12C
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3FORM 990, PART VI, SECTION C, LINE 19
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc4FORM 990, PART IX, LINE 11G
IRS990ScheduleR/IdDisregardedEntitiesGrp/DirectControllingEntityName/BusinessNameLine1Txt0LEECH LAKE FINANCIAL SERVICES INC
IRS990ScheduleR/IdDisregardedEntitiesGrp/DisregardedEntityName/BusinessNameLine1Txt0BUILD ONE PROPERTIES LLC
IRS990ScheduleR/IdDisregardedEntitiesGrp/EndOfYearAssetsAmt00
IRS990ScheduleR/IdDisregardedEntitiesGrp/LegalDomicileStateCd0MN
IRS990ScheduleR/IdDisregardedEntitiesGrp/PrimaryActivitiesTxt0ECONOMIC DEVELOPMENT
IRS990ScheduleR/IdDisregardedEntitiesGrp/TotalIncomeAmt00
IRS990ScheduleR/IdDisregardedEntitiesGrp/USAddress/AddressLine1Txt0113 SPRUCE AVE NE
IRS990ScheduleR/IdDisregardedEntitiesGrp/USAddress/CityNm0CASS LAKE
IRS990ScheduleR/IdDisregardedEntitiesGrp/USAddress/StateAbbreviationCd0MN
IRS990ScheduleR/IdDisregardedEntitiesGrp/USAddress/ZIPCd056633
IRS990/SchoolOperatingInd00
IRS990/SignificantChangeInd00
IRS990/SignificantNewProgramSrvcInd01
IRS990/StatesWhereCopyOfReturnIsFldCd0MN
IRS990/SubjectToExcsTaxNetInvstIncInd00
IRS990/SubjectToProxyTaxInd00
IRS990/SubjToTaxRmnrtnExPrchtPymtInd00
IRS990/TaxablePartyNotificationInd00
IRS990/TaxExemptBondsInd00
IRS990/TerminateOperationsInd00
IRS990/TotalAssetsBOYAmt0846645
IRS990/TotalAssetsEOYAmt0862551
IRS990/TotalAssetsGrp/BOYAmt0846645
IRS990/TotalAssetsGrp/EOYAmt0862551
IRS990/TotalCompGreaterThan150KInd00
IRS990/TotalContributionsAmt0223321
IRS990/TotalEmployeeCnt04
IRS990/TotalFunctionalExpensesGrp/FundraisingAmt00
IRS990/TotalFunctionalExpensesGrp/ManagementAndGeneralAmt0169774
IRS990/TotalFunctionalExpensesGrp/ProgramServicesAmt0242709
IRS990/TotalFunctionalExpensesGrp/TotalAmt0412483
IRS990/TotalGrossUBIAmt00
IRS990/TotalLiabilitiesBOYAmt0332012
IRS990/TotalLiabilitiesEOYAmt0490044
IRS990/TotalLiabilitiesGrp/BOYAmt0332012
IRS990/TotalLiabilitiesGrp/EOYAmt0490044
IRS990/TotalNetAssetsFundBalanceGrp/BOYAmt0514633
IRS990/TotalNetAssetsFundBalanceGrp/EOYAmt0372507
IRS990/TotalOtherCompensationAmt00
IRS990/TotalProgramServiceExpensesAmt0242709
IRS990/TotalProgramServiceRevenueAmt047036
IRS990/TotalReportableCompFromOrgAmt00
IRS990/TotalRevenueGrp/ExclusionAmt00
IRS990/TotalRevenueGrp/RelatedOrExemptFuncIncomeAmt047036
IRS990/TotalRevenueGrp/TotalRevenueColumnAmt0270357
IRS990/TotalRevenueGrp/UnrelatedBusinessRevenueAmt00
IRS990/TotalVolunteersCnt07
IRS990/TotLiabNetAssetsFundBalanceGrp/BOYAmt0846645
IRS990/TotLiabNetAssetsFundBalanceGrp/EOYAmt0862551
IRS990/TotReportableCompRltdOrgAmt00
IRS990/TravelGrp/ProgramServicesAmt09973
IRS990/TravelGrp/TotalAmt09973
IRS990/TrnsfrExmptNonChrtblRltdOrgInd00
IRS990/TypeOfOrganizationCorpInd0X
IRS990/UnrelatedBusIncmOverLimitInd00
IRS990/UponRequestInd0X
IRS990/USAddress/AddressLine1Txt0PO BOX 848
IRS990/USAddress/CityNm0CASS LAKE
IRS990/USAddress/StateAbbreviationCd0MN
IRS990/USAddress/ZIPCd056633
IRS990/VotingMembersGoverningBodyCnt07
IRS990/VotingMembersIndependentCnt07
IRS990/WebsiteAddressTxt0WWW.LLFINANCIAL.ORG
IRS990/WhistleblowerPolicyInd00
ReturnHeader/BuildTS02021-01-29 14:40:06Z
ReturnHeader/BusinessOfficerGrp/DiscussWithPaidPreparerInd01
ReturnHeader/BusinessOfficerGrp/PersonNm0WILLIAM ETHIER
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0CHAIR
ReturnHeader/BusinessOfficerGrp/PhoneNum02183393940
ReturnHeader/BusinessOfficerGrp/SignatureDt02020-11-12
ReturnHeader/Filer/BusinessName/BusinessNameLine1Txt0LEECH LAKE FINANCIAL SERVICES INC
ReturnHeader/Filer/BusinessNameControlTxt0LEEC
ReturnHeader/Filer/EIN0462579700
ReturnHeader/Filer/PhoneNum02183393940
ReturnHeader/Filer/USAddress/AddressLine1Txt0PO BOX 848
ReturnHeader/Filer/USAddress/CityNm0CASS LAKE
ReturnHeader/Filer/USAddress/StateAbbreviationCd0MN
ReturnHeader/Filer/USAddress/ZIPCd056633
ReturnHeader/FilingSecurityInformation/AtSubmissionCreationDeviceId0453B8A31E1A9B8830FB6D6602B43D83EA4295C79
ReturnHeader/FilingSecurityInformation/AtSubmissionFilingDeviceId0D59CE350022E58A8D61DF4FC6363265F22832941
ReturnHeader/FilingSecurityInformation/FilingLicenseTypeCd0P
ReturnHeader/FilingSecurityInformation/IPAddress/IPv4AddressTxt0209.191.195.86
ReturnHeader/FilingSecurityInformation/IPDt02020-11-12
ReturnHeader/FilingSecurityInformation/IPTimezoneCd0CS
ReturnHeader/FilingSecurityInformation/IPTm010:19:45
ReturnHeader/PreparerFirmGrp/PreparerFirmEIN0411281737
ReturnHeader/PreparerFirmGrp/PreparerFirmName/BusinessNameLine1Txt0MILLER MCDONALD INC
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/AddressLine1Txt0513 BELTRAMI AVE NW
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/CityNm0BEMIDJI
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/StateAbbreviationCd0MN
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/ZIPCd056601
ReturnHeader/PreparerPersonGrp/PhoneNum02187516300
ReturnHeader/PreparerPersonGrp/PreparerPersonNm0JON ROSCOE
ReturnHeader/ReturnTs02020-11-16T14:21:46-06:00
ReturnHeader/ReturnTypeCd0990
ReturnHeader/TaxPeriodBeginDt02019-01-01
ReturnHeader/TaxPeriodEndDt02019-12-31
ReturnHeader/TaxYr02019

Document Assets

No mirrored PDF or thumbnail assets are attached yet.

Filings

Displayed year

2019 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$862,551
Liabilities
$490,044
Net assets
$372,507
Revenue
$270,357
Expenses
$412,483
Net income
-$142,126
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