Civic Intelligence

Vlr Foundation

990 • Fiscal year 2023 • EIN 88-0978077

Jan 01, 2023 to Dec 31, 2023 • Filed on Oct 05, 2024

Organization Profile
3230 Spruce StreetLittle Canada, MN 55117

(612) 843-3424

Siviq Scores

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

Liabilities / Assets

91st percentile

0.86x

Higher debt load relative to assets than 91% of similar nonprofits.

2023 filings • 501(c)3 • $5M-$10M nonprofits • Source year 2023

Liabilities / Revenue

100th percentile

171.06x

Higher debt load relative to revenue than 100% of similar nonprofits.

2023 filings • 501(c)3 • $5M-$10M nonprofits • Source year 2023

Net Margin

100th percentile

100%

Higher net margin than 100% of similar nonprofits.

2023 filings • 501(c)3 • $5M-$10M nonprofits • Source year 2023

Top Officer Pay

71st percentile

$184,404

Higher top officer pay than 71% of similar nonprofits.

Top officer pay equals 368.7% of source-year revenue.

2023 filings • 501(c)3 • $5M-$10M nonprofits • Source year 2023

Asset Growth

36th percentile

1.1%

Faster asset growth than 36% of similar nonprofits.

2023 filings • 501(c)3 • $5M-$10M nonprofits • Annualized from 2022 to 2023

Revenue Growth

1st percentile

-96%

Faster revenue growth than 1% of similar nonprofits.

2023 filings • 501(c)3 • $5M-$10M nonprofits • Annualized from 2022 to 2023

Balance Sheet
Liabilities / Assets91st percentile

Assets

Up

$9,941,686

Up $103,405 (+1.1%) from 2022

Net Assets

Up

$1,386,776

Up $62,207 (+4.7%) from 2022

Liabilities

Up

$8,554,910

Up $41,198 (+0.5%) from 2022

Revenue And Expenses
Liabilities / Revenue100th percentileNet Margin100th percentile

Revenue

Down

$50,011

Down $1,285,623 (-96%) from 2022

Expenses

Down

$0

Down $217 (-100%) from 2022

Net Income

Down

$50,011

Down $1,285,406 (-96%) from 2022

Historical Trend

Balance Sheet Trend

Asset Growth36th percentile

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

$15M$10M$5.0M$0Assets 2022: $9,838,281Liabilities 2022: $8,513,712Net Assets 2022: $1,324,5692022Assets 2023: $9,941,686Liabilities 2023: $8,554,910Net Assets 2023: $1,386,7762023Assets 2024: $10,081,970Liabilities 2024: $8,620,910Net Assets 2024: $1,461,0602024

Highlighted filing

2023

Assets$9,941,686
Liabilities$8,554,910
Net Assets$1,386,776
Open 2023 Filing

Operations Trend

Revenue Growth1st percentile

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

$1.5M$1.0M$500K$0Revenue 2022: $1,335,634Expenses 2022: $217Net Income 2022: $1,335,4172022Revenue 2023: $50,011Expenses 2023: $0Net Income 2023: $50,0112023Revenue 2024: $71,744Expenses 2024: $0Net Income 2024: $71,7442024

Highlighted filing

2023

Revenue$50,011
Expenses$0
Net Income$50,011
Open 2023 Filing
Jump To
Filing Snapshot
Filing Period
Jan 1, 2023 to Dec 31, 2023
Signed
Oct 5, 2024
Return Version
2023v5.0
Gross Receipts
$478,776
Mission and Program Overview

Mission

Own commercial building at 32320 spruce street and rent to controlling parent non-profit.

Own commercial building at 32320 spruce street and rent to controlling parent vision loss resources, inc.

Balance Sheet Detail
LineBeginningEndChange
Assets
Land, Buildings, and Equipment, Net$9,783,093$9,535,434▼ $247,659
Cash and Non-Interest-Bearing Accounts$13,990$365,054▲ $351,064
Prepaid Expenses and Deferred Charges$41,198$41,198→ $0
Total Assets$9,838,281$9,941,686▲ $103,405
Liabilities
Unsecured Notes Loans Payable$8,513,712$8,554,910▲ $41,198
Total Liabilities$8,513,712$8,554,910▲ $41,198
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$1,324,569$1,386,776▲ $62,207
Total Net Assets Fund Balance$1,324,569$1,386,776▲ $62,207
Total Liabilities and Net Assets / Fund Balance$9,838,281$9,941,686▲ $103,405

Asset Categories

AssetBook ValueDepreciationBasis
Buildings$8,740,934$309,573$9,050,507
Land$794,500-$794,500
Compensation and Service Providers
Top Officer Pay71st percentile

Employees

NameTitleOtherTotal
Peter M KramerCEO Vision L$184,404$184,404
Linda GuzmanCPS Director$133,201$133,201
Charles J StroudCEO$130,547$130,547
Juan GuzmanProduction S$117,460$117,460
Ricardo LopezSenior Prod$113,193$113,193

Board Members and Trustees

NameTitle
Jean MachartDirector
Mary McdougallDirector
Tricia DurstDirector
Peter M KramerCEO Vision Loss Reso
Mike TreeceTreasurer
Revenue and Support

Revenue Composition

Contributions and Grants
$0
Program Service Revenue
$0
Investment Income
$0
Other Revenue
$50,011
Change in Net Assets
$50,011

Audited Revenue Reconciliation

Revenue per Audited Statements
$50,011
Revenue Not Reported on Form 990
$428,764
Total Revenue per Audited Statements
$478,775
Total Revenue per Form 990
$50,011
Expenses and Functional Allocation

Major Expense Lines

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

Audited Expense Reconciliation

Line ItemAmount
Expenses Not Reported on Form 990$428,764
Total Expenses per Audited Statements$416,568
Expenses Not Reported on Financial Statements$12,196
Other Expense Adjustments$12,196
Expenses per Audited Statements$-12,196
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
Annual disclosure for covered persons
Yes
Audit committee
Yes
Backup withholding compliance
No
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
Yes
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, Page 6, Part VI, Line 11B

“Complete copy was reviewed by the foundation board prior to filing. Any errors were corrected before document was filed with interal revenue service.”

Form 990, Page 6, Part VI, Line 15A

“By parent company vision loss resources, inc.”

Form 990, Page 6, Part VI, Line 19

“No documents available to the public”

Form 990, Part VII

“Compensation is from related party vision loss resources.”

Filing and Contact Details

Filer

Filer Name
Vlr Foundation
EIN
88-0978077
Phone
6128433424
Address
3230 SPRUCE STREET, LITTLE CANADA, MN 55117

Signing Officer

Name
Charles J Stroud
Title
CEO
Phone
6128433424
Signed
2024-10-05
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Charles J Stroud
Formed
2022
Legal Domicile
Mn
Voting Board Members
5
Independent Board Members
5
Employees
0

Preparer

Firm
Carlsonsv Llp
Address
5801 DULUTH STREET SUITE 360, GOLDEN VALLEY, MN 55422
Preparer
Matt Guyer CPA
Phone
7635429633
Supplemental Narrative

Additional Explanations

Form 990, Part XI, Line 9

“Book/ tax depreciation 12,196”

Financial Statement Notes

Schedule D, Page 4, Part XI, Line 2D

“Direct rental expenses 428,764”

Schedule D, Page 4, Part XII, Line 2D

“Direct rental expenses 428,764”

Schedule D, Page 4, Part XII, Line 4B

“Book / tax depreciation difference 12,196”

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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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IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1FORM 990, PAGE 6, PART VI, LINE 15A
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2FORM 990, PAGE 6, PART VI, LINE 19
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3FORM 990, PART VII
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Document Assets

No mirrored PDF or thumbnail assets are attached yet.

Filings

Displayed year

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

Open filing
Assets
$9,941,686
Liabilities
$8,554,910
Net assets
$1,386,776
Revenue
$50,011
Expenses
$0
Net income
$50,011
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Facts available. Structured filing facts are available, but richer extracted sections are limited.$10.1$8.62$1.46$0.07$0.00$0.07
2023Detailed filing. Detailed filing data is available for this year.$9.94$8.55$1.39$0.05$0.00$0.05
2022Detailed filing. Detailed filing data is available for this year.$9.84$8.51$1.32$1.34$0.00$1.34