Civic Intelligence

Ely Folk School

990 • Fiscal year 2024 • EIN 47-2706626

Jan 01, 2024 to Dec 31, 2024 • Filed on Apr 29, 2025

209 E Sheridan StreetEly, MN 55731

(218) 235-0138

Siviq Scores

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

Liabilities / Assets

79th percentile

0.11x

Higher debt load relative to assets than 79% of similar nonprofits.

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

Liabilities / Revenue

80th percentile

0.08x

Higher debt load relative to revenue than 80% of similar nonprofits.

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

Net Margin

65th percentile

12%

Higher net margin than 65% of similar nonprofits.

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

Top Officer Pay

93rd percentile

$55,800

Higher top officer pay than 93% of similar nonprofits.

Top officer pay equals 21.0% of source-year revenue.

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

Asset Growth

72nd percentile

20%

Faster asset growth than 72% of similar nonprofits.

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

Revenue Growth

45th percentile

-0.5%

Faster revenue growth than 45% of similar nonprofits.

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

Assets

Up

$189,167

Up $31,080 (+20%) from 2023

Net Assets

Up

$168,768

Up $32,364 (+24%) from 2023

Liabilities

Down

$20,399

Down $1,284 (-5.9%) from 2023

Revenue

Down

$266,346

Down $1,359 (-0.5%) from 2023

Expenses

Up

$233,671

Up $14,619 (+6.7%) from 2023

Net Income

Down

$32,675

Down $15,978 (-33%) from 2023

Historical Trend

Balance Sheet Trend

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

$200K$150K$100K$50K$0Assets 2016: $34,594Liabilities 2016: $2,500Net Assets 2016: $32,0942016Assets 2017: $27,969Liabilities 2017: $181Net Assets 2017: $27,7882017Assets 2018: $35,247Liabilities 2018: $632Net Assets 2018: $34,6152018Assets 2019: $37,108Liabilities 2019: $2,272Net Assets 2019: $34,8362019Assets 2020: $55,215Liabilities 2020: $25,000Net Assets 2020: $30,2152020Assets 2021: $76,029Liabilities 2021: $24,251Net Assets 2021: $51,7782021Assets 2022: $109,585Liabilities 2022: $24,079Net Assets 2022: $85,5062022Assets 2023: $158,087Liabilities 2023: $21,683Net Assets 2023: $136,4042023Assets 2024: $189,167Liabilities 2024: $20,399Net Assets 2024: $168,7682024

Highlighted filing

2024

Assets$189,167
Liabilities$20,399
Net Assets$168,768

Operations Trend

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

$300K$200K$100K$0-$100KRevenue 2016: $94,477Expenses 2016: $91,840Net Income 2016: $2,6372016Revenue 2017: $96,439Expenses 2017: $100,745Net Income 2017: -$4,3062017Revenue 2018: $104,067Expenses 2018: $97,004Net Income 2018: $7,0632018Revenue 2019: $99,159Expenses 2019: $95,470Net Income 2019: $3,6892019Revenue 2020: $77,439Expenses 2020: $81,554Net Income 2020: -$4,1152020Revenue 2021: $139,259Expenses 2021: $116,887Net Income 2021: $22,3722021Revenue 2022: $172,433Expenses 2022: $138,461Net Income 2022: $33,9722022Revenue 2023: $267,705Expenses 2023: $219,052Net Income 2023: $48,6532023Revenue 2024: $266,346Expenses 2024: $233,671Net Income 2024: $32,6752024

Highlighted filing

2024

Revenue$266,346
Expenses$233,671
Net Income$32,675
Jump To
Filing Snapshot
Filing Period
Jan 1, 2024 to Dec 31, 2024
Signed
Apr 29, 2025
Return Version
2024v5.1
Gross Receipts
$273,342
Mission and Program Overview

Mission

Ourmissionistobuildcommunitybyprovidinglearningexperiencesthatcelebratethewildernessheritage,art,history,andcraftofthepeoplesofnorthernMinnesota.

Mission Statement: Building community by providing learning experiences that celebrate the wilderness heritage art history culture and craft of the people of northern Minnesota.

Balance Sheet Detail
LineBeginningEndChange
Assets
Cash and Non-Interest-Bearing Accounts$142,993$169,855▲ $26,862
Inventories for Sale or Use$11,350$13,218▲ $1,868
Land, Buildings, and Equipment, Net$3,744$6,094▲ $2,350
Savings and Temporary Cash Investments$0$0→ $0
Accounts Receivable$0$0→ $0
Other Notes and Loans Receivable, Net$0$0→ $0
Pledges and Grants Receivable$0$0→ $0
Receivable From Disqualified Prsn$0$0→ $0
Receivables From Officers Etc$0$0→ $0
Investments Other Securities$0$0→ $0
Investments Program Related$0$0→ $0
Investments in Publicly Traded Securities$0$0→ $0
Intangible Assets$0$0→ $0
Loans From Officers Directors$0$0→ $0
Prepaid Expenses and Deferred Charges$0$0→ $0
Total Assets$158,087$189,167▲ $31,080
Other Assets Total$0$0→ $0
Liabilities
Unsecured Notes Loans Payable$21,683$20,399▼ $1,284
Accounts Payable and Accrued Expenses$0$0→ $0
Grants Payable$0$0→ $0
Mortgage Notes Payable Secured by Investment Property$0$0→ $0
Other Liabilities$0$0→ $0
Deferred Revenue$0$0→ $0
Escrow Account Liability$0$0→ $0
Tax Exempt Bond Liabilities$0$0→ $0
Total Liabilities$21,683$20,399▼ $1,284
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$136,404$168,768▲ $32,364
Net Assets With Donor Restrictions$0$0→ $0
Total Net Assets Fund Balance$136,404$168,768▲ $32,364
Total Liabilities and Net Assets / Fund Balance$158,087$189,167▲ $31,080

Asset Categories

AssetBook ValueDepreciationBasis
Equipment$6,094$15,926$22,020
Compensation and Service Providers

Employees

NameTitleFull / Part TimeBaseTotal
Lucy SoderstromExecutive DirectorFT$55,800$55,800

Board Members and Trustees

NameTitle
Lacey SquierChairperson
Johnnie HydeBoard Member
Nick DunnomBoard Member
Ozzie ReifBoard Member
Rick AndersonBoard Member
Rosa OesterreichBoard Member
Sarah ParoBoard Member
Chris ClemensTreasurer
Revenue and Support

Revenue Composition

Contributions and Grants
$176,324
Program Service Revenue
$73,330
Investment Income
$0
Other Revenue
$16,692
All Other Contributions
$171,394
Change in Net Assets
$32,675
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$118,823
Salaries, Compensation, and Employee Benefits$114,848
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$87,558$0$0$87,558
Payroll Taxes$0$27,290$0$27,290
Occupancy$0$19,723$0$19,723
Fees for Services Other$0$5,614$0$5,614
Office Expenses$0$5,580$0$5,580
Information Technology$0$4,732$0$4,732
Advertising$0$4,589$0$4,589
Fees for Services Accounting$0$4,259$0$4,259
Insurance$0$2,931$0$2,931
Conferences and Meetings$0$1,495$0$1,495
Depreciation Depletion$0$1,485$0$1,485
Total Functional Expenses$151,162$82,509$0$233,671
Fundraising, Events, and Gaming
Fundraising activities
No
Gaming activities
No
Professional fundraiser used
No

Fundraising and Gaming Totals

Line ItemAmount
Fundraising Direct Expenses$0
Fundraising Gross Income$0
Gaming Direct Expenses$0
Gaming Gross Income$0
Professional Fundraising Fees$0
Political and Lobbying Activity
Political campaign activity
No
Lobbying activity
No
Subject to proxy tax
No
Insider Transactions and Loans

Loans and Receivables

Line ItemBeginningEndChange
Loans from Officers, Directors, Trustees, and Key Employees$0$0→ $0
Receivables from Disqualified Persons$0$0→ $0
Receivables from Officers, Directors, Trustees, and Key Employees$0$0→ $0
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
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
No
Audited financial statements prepared
No
Key decisions subject to board approval
No
Management duties delegated
No

Governance Explanations

Part VI, Line 11B

All board members of record at the time of 990 preparation November 2024 were emailed a copy of the completed 990 with instructions to provide feedback before the filing deadline.

Part VI, Line 19

All organizational information that is open to the public is furnished upon demand.

Filing and Contact Details

Filer

Filer Name
Ely Folk School
EIN
47-2706626
In Care Of
% Chris Clemens
Phone
2182350138
Address
209 E Sheridan Street, Ely, MN 55731

Signing Officer

Name
Christopher Clemens
Title
Treasurer
Signed
2025-04-29

Organization Details

Principal Officer
Chris Clemens
Formed
2015
Legal Domicile
Mn
Voting Board Members
8
Independent Board Members
0
Employees
0
Volunteers
54
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