Civic Intelligence

Vision 2020 Education Foundation

990 • Fiscal year 2023 • EIN 84-3015813

Jul 01, 2022 to Jun 30, 2023 • Filed on May 01, 2024

Organization ProfileN/A
1165 6th St WWinona, MN 55987

(507) 453-5014

Siviq Scores

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

Liabilities / Assets

25th percentile

0.05x

Higher debt load relative to assets than 25% of similar nonprofits.

2023 filings • 501(c)3 • $25M-$50M nonprofits • Source year 2023

Liabilities / Revenue

95th percentile

6.36x

Higher debt load relative to revenue than 95% of similar nonprofits.

2023 filings • 501(c)3 • $25M-$50M nonprofits • Source year 2023

Net Margin

19th percentile

-11%

Higher net margin than 19% of similar nonprofits.

2023 filings • 501(c)3 • $25M-$50M nonprofits • Source year 2023

Top Officer Pay

26th percentile

$169,336

Higher top officer pay than 26% of similar nonprofits.

Top officer pay equals 47.4% of source-year revenue.

2023 filings • 501(c)3 • $25M-$50M nonprofits • Source year 2023

Asset Growth

39th percentile

3.5%

Faster asset growth than 39% of similar nonprofits.

2023 filings • 501(c)3 • $25M-$50M nonprofits • Annualized from 2022 to 2023

Revenue Growth

2nd percentile

-81%

Faster revenue growth than 2% of similar nonprofits.

2023 filings • 501(c)3 • $25M-$50M nonprofits • Annualized from 2022 to 2023

Balance Sheet
Liabilities / Assets25th percentile

Assets

Up

$48,501,619

Up $1,626,874 (+3.5%) from 2022

Net Assets

Down

$46,226,868

Down $38,111 (-0.1%) from 2022

Liabilities

Up

$2,274,751

Up $1,664,985 (+273%) from 2022

Revenue And Expenses
Liabilities / Revenue95th percentileNet Margin19th percentile

Revenue

Down

$357,509

Down $1,480,177 (-81%) from 2022

Expenses

Down

$395,620

Down $68,426 (-15%) from 2022

Net Income

Down

-$38,111

Down $1,411,751 (-103%) from 2022

Historical Trend

Balance Sheet Trend

Asset Growth39th percentile

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

$60M$40M$20M$0Assets 2020: $44,983,628Liabilities 2020: $366,883Net Assets 2020: $44,616,7452020Assets 2021: $46,717,556Liabilities 2021: $1,826,217Net Assets 2021: $44,891,3392021Assets 2022: $46,874,745Liabilities 2022: $609,766Net Assets 2022: $46,264,9792022Assets 2023: $48,501,619Liabilities 2023: $2,274,751Net Assets 2023: $46,226,8682023Assets 2024: $19,272,589Liabilities 2024: $0Net Assets 2024: $19,272,5892024Assets 2025: $1,762Liabilities 2025: $0Net Assets 2025: $1,7622025

Highlighted filing

2023

Assets$48,501,619
Liabilities$2,274,751
Net Assets$46,226,868
Open 2023 Filing

Operations Trend

Revenue Growth2nd percentile

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

$60M$40M$20M$0-$20M-$40MRevenue 2020: $44,732,432Expenses 2020: $115,687Net Income 2020: $44,616,7452020Revenue 2021: $311,657Expenses 2021: $37,063Net Income 2021: $274,5942021Revenue 2022: $1,837,686Expenses 2022: $464,046Net Income 2022: $1,373,6402022Revenue 2023: $357,509Expenses 2023: $395,620Net Income 2023: -$38,1112023Revenue 2024: $81,742Expenses 2024: $27,036,021Net Income 2024: -$26,954,2792024Revenue 2025: $3Expenses 2025: $0Net Income 2025: $32025

Highlighted filing

2023

Revenue$357,509
Expenses$395,620
Net Income-$38,111
Open 2023 Filing
Jump To
Filing Snapshot
Filing Period
Jul 1, 2022 to Jun 30, 2023
Signed
May 1, 2024
Return Version
2022v5.0
Gross Receipts
$357,509
Mission and Program Overview

Mission

Facilitation of funding for the foundation and the renovations and construction of new school buildings.

Facilitation the funding for the foundation and the renovations and construction of a new high school.

Balance Sheet Detail
LineBeginningEndChange
Assets
Land, Buildings, and Equipment, Net$24,228,275$42,441,183▲ $18,212,908
Savings and Temporary Cash Investments$20,593,540$6,060,436▼ $14,533,104
Cash and Non-Interest-Bearing Accounts$1,800,000--
Pledges and Grants Receivable$252,930--
Total Assets$46,874,745$48,501,619▲ $1,626,874
Liabilities
Accounts Payable and Accrued Expenses$609,766$2,274,751▲ $1,664,985
Total Liabilities$609,766$2,274,751▲ $1,664,985
Net Assets / Fund Balance
Net Assets With Donor Restrictions$27,100,411$26,584,821▼ $515,590
Net Assets Without Donor Restrictions$19,164,568$19,642,047▲ $477,479
Total Net Assets Fund Balance$46,264,979$46,226,868▼ $38,111
Total Liabilities and Net Assets / Fund Balance$46,874,745$48,501,619▲ $1,626,874

Asset Categories

AssetBook ValueDepreciationBasis
Other Land Buildings$22,703,380-$22,703,380
Buildings$19,024,303$756,727$19,781,030
Land$713,500-$713,500
Compensation and Service Providers
Top Officer Pay26th percentile

Board Members and Trustees

NameTitle
Mary Eileen FitchPresident/treasurer
Barry McraithVice President
Steven SlaggieDirector
Chris MichenerSecretary
Revenue and Support

Revenue Composition

Contributions and Grants
$20,679
Program Service Revenue
$0
Investment Income
$336,830
Other Revenue
$0
All Other Contributions
$20,679
Change in Net Assets
$-38,111
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$395,620
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Salaries, Compensation, and Employee Benefits$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Depreciation Depletion$362,049$33,571-$395,620
Total Functional Expenses$362,049$33,571$0$395,620
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
Governance and Compliance

Governance Checklist

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

Governance Explanations

Form 990, Part VI, Section A, Line 7A

“The corporation shall not have members.”

Form 990, Part VI, Section A, Line 8B

“The organization does not have any committees with authority to act on behalf of the board of directors.”

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

“The form 990 will not be provided to the board before filing.”

Form 990, Part VI, Section B, Line 15

“Directors shall serve without salary. Expenses incurred in connection with performance of their official duties may be reimbursed to directors upon approval of the board of directors.”

Form 990, Part VI, Section C, Line 18

“AVAILABLE UPON REQUEST.”

Form 990, Part VI, Section C, Line 19

“The organization makes its governing documents, conflict of interest policy, and financial statements available to the public upon request.”

Filing and Contact Details

Filer

Filer Name
Vision 2020 Education Foundation
EIN
84-3015813
Phone
5074535014
Address
1165 6TH ST W, WINONA, MN 55987

Signing Officer

Name
Mary Eileen Fitch
Title
President
Phone
5074535014
Signed
2024-05-01
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Mary Eileen Fitch
Formed
2019
Legal Domicile
Mn
Voting Board Members
4
Independent Board Members
3
Employees
0
Volunteers
3

Preparer

Firm
Cliftonlarsonallen Llp
Address
2689 COMMERCE DRIVE NW SUITE 201, ROCHESTER, MN 55901
Preparer
Katherine Lutzke CPA
Phone
5072802300
Supplemental Narrative

Financial Statement Notes

PART X, LINE 2:

“The school is exempt from federal income tax under section 501(c)(3) of the internal revenue code (irc). However, income from certain activities not directly related to the school's tax-exempt purpose is subject to taxation as unrelated business income. In addition, the school qualifies for the charitable contribution deduction under section 170(b)(1)(a) and has been classified as a school that is not a private foundation under section 509(a)(2). The school has evaluated its tax positions and has determined it has no uncertain tax positions as of june 30, 2023 and 2022.”

Raw XML Appendix389 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/SupplementalInformationDetail/ExplanationTxt0THE SCHOOL IS EXEMPT FROM FEDERAL INCOME TAX UNDER SECTION 501(C)(3) OF THE INTERNAL REVENUE CODE (IRC). HOWEVER, INCOME FROM CERTAIN ACTIVITIES NOT DIRECTLY RELATED TO THE SCHOOL'S TAX-EXEMPT PURPOSE IS SUBJECT TO TAXATION AS UNRELATED BUSINESS INCOME. IN ADDITION, THE SCHOOL QUALIFIES FOR THE CHARITABLE CONTRIBUTION DEDUCTION UNDER SECTION 170(B)(1)(A) AND HAS BEEN CLASSIFIED AS A SCHOOL THAT IS NOT A PRIVATE FOUNDATION UNDER SECTION 509(A)(2). THE SCHOOL HAS EVALUATED ITS TAX POSITIONS AND HAS DETERMINED IT HAS NO UNCERTAIN TAX POSITIONS AS OF JUNE 30, 2023 AND 2022.
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IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0THE CORPORATION SHALL NOT HAVE MEMBERS.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1THE ORGANIZATION DOES NOT HAVE ANY COMMITTEES WITH AUTHORITY TO ACT ON BEHALF OF THE BOARD OF DIRECTORS.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2THE FORM 990 WILL NOT BE PROVIDED TO THE BOARD BEFORE FILING.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3DIRECTORS SHALL SERVE WITHOUT SALARY. EXPENSES INCURRED IN CONNECTION WITH PERFORMANCE OF THEIR OFFICIAL DUTIES MAY BE REIMBURSED TO DIRECTORS UPON APPROVAL OF THE BOARD OF DIRECTORS.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt4AVAILABLE UPON REQUEST.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt5THE ORGANIZATION MAKES ITS GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICY, AND FINANCIAL STATEMENTS AVAILABLE TO THE PUBLIC UPON REQUEST.
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0FORM 990, PART VI, SECTION A, LINE 7A
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1FORM 990, PART VI, SECTION A, LINE 8B
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2FORM 990, PART VI, SECTION B, LINE 11B
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3FORM 990, PART VI, SECTION B, LINE 15
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc4FORM 990, PART VI, SECTION C, LINE 18
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc5FORM 990, PART VI, SECTION C, LINE 19
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ReturnHeader/TaxYr02022

Document Assets

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Filings

Displayed year

2023 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$48,501,619
Liabilities
$2,274,751
Net assets
$46,226,868
Revenue
$357,509
Expenses
$395,620
Net income
-$38,111
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2025Detailed filing. Detailed filing data is available for this year.$0.00$0.00$0.00$0.00$0.00$0.00
2024Detailed filing. Detailed filing data is available for this year.$19.3$0.00$19.3$0.08$27.0$27.0
2023Detailed filing. Detailed filing data is available for this year.$48.5$2.27$46.2$0.36$0.40$0.04
2022Summary only. Only limited summary data is available for this year.$46.9$0.61$46.3$1.84$0.46$1.37
2021Summary only. Only limited summary data is available for this year.$46.7$1.83$44.9$0.31$0.04$0.27
2020Summary only. Only limited summary data is available for this year.$45.0$0.37$44.6$44.7$0.12$44.6