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Rusk County Community Foundation FY2021 filing

Ladysmith, WIUnknown exempt organization EIN 26-0394674Revenue $250K in FY2021Latest return filed Nov 16, 2023

On file with the IRSruskfoundtion.orgLadysmith, WI

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To provide professionally managed services by which individuals, families, and businesses can contribute through lifetime and estate gifts for the betterment of their Rusk County communities.

94¢ of each $1 spent went to programs.
Mission: Form 990 Part I, line 1 · Programs: Part IX

Before you give

FY2021 · Form 990Independent: from IRS data, not the org
Download 990
Latest return
FY2023
latest Form 990
Fine: the latest return is for FY2023, 3 tax years back; within 3 tax years.
IRS e-file · Filing history
Surplus or deficit
2 of 3
filings with a surplus
Average deficit $608K a year · 356% of revenue · last 3 filings
Fine: a surplus in 2 of the last 3 filings.
Pt I · Ln 19 · 3 filings
Spent on programs
94%
of spending
Looks good: 94% of spending went to programs; 75% or more.
Pt IX · Ln 25 · col B
Cash reserves
9 mo
of spending, in cash
Plus $3.4M in investments, Pt X · Ln 11–13
Looks good: 8.9 months of spending in cash; 3 or more.
Pt X · Ln 1–2 · Pt I · Ln 18
Named funders
1
named funder · $23
Fine: 1 funder names it on their filings; under 3.
Funders’ Sch. I, 990-PF
Liabilities
$1.3M
37% of total assets
Looks good: liabilities are 37% of assets; 50% or less.
Pt X · Ln 26
Independent board members
10
of 10 voting members
Looks good: 10 of 10 voting members are independent, a majority.
Pt VI · Ln 1a–1b
Looks goodFineWorth a lookConcernNo data yetTap a box for the reason.
Revenue
$250K
Spent
$67K
To programs
94%
Net assets
$2.2M
By yearFY2021–FY2023
Revenue
$250K
FY2021
Tap a bar for its year
Revenue by fiscal year
FY2021$250K
FY2022$123K
FY2023$140K
Expenses
$67K
FY2021
Tap a bar for its year
Expenses by fiscal year
FY2021$67K
FY2022$74K
FY2023$2.2M
Net assets
$2.2M
FY2021
Tap a bar for its year
Net assets by fiscal year
FY2021$2.2M
FY2022$2.0M
FY2023$0

From the FY2021 Form 990 (year ending June 2021) · see the original

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You’re viewing the FY2021 filing — not the latest on file. See the latest (FY2023) →

Is it real?

Yes. Never revoked by the IRS. Latest filing on record: FY2023.

IRS Pub. 78 · IRS Auto-Revocation List · IRS Business Master File

Where the money goes

94 cents of each dollar spent went to programs.

Program services 94% · $63K Management & general 6% · $4K

Form 990 Part IX, line 25, columns B–D. Every line is in By the numbers.

Something off? Claim to add context

Who runs it and what they're paid

10 people listed on the 990.

Part VII, Section A · reportable compensation · most recent filed roster (FY2020); the FY2021 filing did not itemize Part VII
$0Pt VII · Sec A
Andy Albarado
Vice-Chair
$0Pt VII · Sec A
Kevin Smith
Treasurer
$0Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A
Bob Lecheler
Director
$0Pt VII · Sec A
See Rusk County Community Foundation executive salaries →

Questions the 990 asks

The form asks each of these directly. These are the filed answers.

  • Family or business ties among officersPt VI · Ln 2No
  • Top official's pay set by an independent reviewPt VI · Ln 15aNo

Programs and updates

Facilitates community betterment through managed lifetime and estate gifts.

Questions for Rusk County Community Foundation

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1 program · $63K · in their own filed words · FY2020
01

Challenge Mini Grants

Local schools and students submit plans for community projects within rusk county. Community grants can also be submitted by local non-profit ORGANIZATIONS.GIVE365RUSK - local philanthropic membership for modest non-endowed donors to vote (give input) on how certain grants are to be awarded.

$63Kprogram expense

Funders

Who pays for it.

From grant filings on record. Receipts are incomplete: individual donors are never listed.

Grants

Schedule I · received and paid
Grants received · FY2023
Amazonsmile FoundationFY2023$23
Total grants receivedfrom 1 funder$23
Grants paid · 5 grants · $2.2M · 2020–2022
Eau Claire Community FoundationWI · FY2022$2,144,330
Community Foundation of Chippewa CountyFY2022$10,000
School District of LadysmithFY2021$19,641
Natures Edge Therapy Center IncorporatedWI · FY2021$5,700
School District of LadysmithFY2020$23,644

By the numbers

The FY2021 990, line by line.

Download 990
from philanthropy.org
1The main four
Money inPt VIII
$250K
Ln 12
Gifts and grantsLn 1h$249K
Investment incomeLn 3$847
Money outPt IX
$67K
Ln 25
Programscol B$63K
Managementcol C$4K
Owns and owesPt X
$2.2M
net assets · Ln 32
Cash and savingsLn 1–2$50K
Total assetsLn 16$3.5M
LiabilitiesLn 26$1.3M
PeoplePt VI, VII
10
listed · VII A
PaidVII A0
Voting boardVI 1a10
IndependentVI 1b10
2In more detail
Revenue in detailPt VIII
Gifts and grantsLn 1h$249K
Investment incomeLn 3$847
Total revenueLn 12$250K
Assets in detailPt X, end of year
CashLn 1$24K
SavingsLn 2$25K
Cash and savings togetherLn 1–2$50K
InvestmentsLn 11–13$3.4M
Total assetsLn 16$3.5M
LiabilitiesLn 26$1.3M
Net assetsLn 32$2.2M
OperationsPt I, VI
EmployeesI 50
VolunteersI 610
Fiscal year endsHeaderJune
Conflict-of-interest policyVI 12aYes
Whistleblower policyVI 13No
Records policyVI 14No
3More from this return
EndowmentSch D · Pt V
LineFY21FY20FY19FY18FY17
End of yearLn 1g$2.1M$1.5M$1.4M$1.2M$1.0M
Given inLn 1b$235K$182K$174K$119K$147K
SpentLn 1d–1f$67K$59K$53K$45K$37K
4Year over year
Balance sheet, start vs end of yearPt X · col A, B
LineStart FY21End FY21
Cash and savingsLn 1–2$63K$50K
InvestmentsLn 11–13$2.6M$3.4M
Total assetsLn 16$2.6M$3.5M
LiabilitiesLn 26$1.0M$1.3M
Net assetsLn 32$1.6M$2.2M
5Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Grants to domestic organizationsLn 1$63K$63K
Accounting feesLn 11c$64$64
Advertising and promotionLn 12$1K$1K
Office expensesLn 13$690$690
InsuranceLn 23$1K$1K
Other expenses (24a–d)Ln 24$55$55
All other expensesLn 24e$620$620
Total functional expensesLn 25$67K$63K$4K$0

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2023 LatestFiled with the IRS Nov 16, 2023 $140K$2.2M−$2.1M$0 990 PDF
FY2022Filed with the IRS Feb 6, 2023 $123K$74K$49K$2.0M 990 PDF
FY2021 ViewingFiled with the IRS Mar 15, 2022 $250K$67K$183K$2.2M 990 PDF

Schedules filed Part IV

III · Programs R · Related orgs G · Fundraising L · Interested persons I · Grants O · Explanations
See the full FY2021 990 (6 parts)
Part I · Summary $250,091 revenue, 12 lines filed
I-8 Contributions and grantsPrior year $190,546$249,244
I-9 Program service revenuePrior year $0$0
I-10 Investment incomePrior year $1,224$847
I-11 Other revenuePrior year $1,000$0
I-12 Total revenuePrior year $192,770$250,091
I-13 Grants and similar amounts paidPrior year $52,990$62,868
I-14 Benefits paid to membersPrior year $0$0
I-15 Salaries and benefitsPrior year $0$0
I-16a Professional fundraising feesPrior year $0$0
I-17 Other expensesPrior year $40,406$4,220
I-18 Total expensesPrior year $93,396$67,088
I-19 Revenue less expensesPrior year $99,374$183,003
Part VI · Governance 10 of 10 board members independent, 3 to look at
VI-1a Voting members of the governing body10
VI-1b Independent voting members10
VI-13 Written whistleblower policyNo
VI-14 Document retention and destruction policyNo
VI-15a Process for setting top official's payNo
VI-2 Family or business relationship among officers or directorsNo
VI-12a Written conflict of interest policyYes
Part VIII · Statement of revenue $250,091 across 4 lines filed
VIII-1f All other contributions, gifts and grants$249,244
VIII-1h Total contributions, gifts and grants$249,244
VIII-3 Investment incomeExcluded from tax $847$847
VIII-12 Total revenueRelated to mission $0 · Unrelated business $0 · Excluded from tax $847$250,091
Part IX · Statement of functional expenses $67,088 across 7 lines filed
IX-1 Grants to domestic organizationsPrograms $62,868$62,868
IX-11c Accounting feesManagement $64$64
IX-12 Advertising and promotionManagement $1,486$1,486
IX-13 Office expensesManagement $690$690
IX-23 InsuranceManagement $1,305$1,305
IX-24 Other expenses (24a–d)Management $55$55
IX-24e All other expensesManagement $620$620
IX-25 Total functional expensesPrograms $62,868 · Management $4,220 · Fundraising $0$67,088
Part X · Balance sheet $3,475,896 assets, 11 lines filed
X-1 Cash, non-interest-bearingStart of year $30,913$24,341
X-2 Savings and temporary cash investmentsStart of year $32,534$25,450
X-11 Publicly traded securitiesStart of year $29,164$29,476
X-12 Other securitiesStart of year $2,528,532$3,396,629
X-16 Total assetsStart of year $2,621,143$3,475,896
X-25 Other liabilitiesStart of year $1,020,753$1,274,146
X-26 Total liabilitiesStart of year $1,020,753$1,274,146
X-27 Net assets without donor restrictionsStart of year $92,611$79,267
X-28 Net assets with donor restrictionsStart of year $1,507,779$2,122,483
X-32 Total net assets or fund balancesStart of year $1,600,390$2,201,750
X-33 Total liabilities and net assetsStart of year $2,621,143$3,475,896
Part XI · Reconciliation of net assets $2,201,750 net assets at year end
XI-1 Total revenue$250,091
XI-2 Total expenses$67,088
XI-3 Revenue less expenses$183,003
XI-4 Net assets at start of year$1,600,390
XI-9 Other changes in net assets$418,356
XI-10 Net assets at end of year$2,201,750

Form 990 e-file (XML) FY2021 from the IRS · Classification, formation year and address from the IRS Business Master File

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