Cannon Falls education Foundation (cfef) mission is to provide funds to enhance the Educational environment in the Cannon Falls public schools. Cfef supports and promotes excellence in education by providing funding for all types of creative and innovative Educational programs and activities that are above and beyond the programs supported by general education dollars.

501(c)(3) charity; gifts are tax-deductible.
87¢ of each $1 spent went to programs.
Mission: Form 990 Part I, line 1 · Status: IRS Pub. 78 · Programs: Part IX

Before you give

FY2023 · Form 990Independent: from IRS data, not the org
Download 990
IRS status
501(c)(3)
not on the IRS revocation list
Looks good: listed by the IRS and not on the revocation list.
IRS BMF · Auto-Revocation List
Tax-deductible gifts
Yes
Donations are tax-deductible
Looks good: the IRS lists gifts to it as deductible.
IRS Pub. 78 · IRS BMF
Latest return
FY2026
latest Form 990
Looks good: the latest return is for FY2026, this tax year; within 2 tax years.
IRS e-file · Filing history
Surplus or deficit
4 of 6
filings with a surplus
Average surplus $5K a year · 2% of revenue · last 6 filings
Fine: a surplus in 4 of the last 6 filings.
Pt I · Ln 19 · 6 filings
Spent on programs
87%
of spending
Looks good: 87% of spending went to programs; 75% or more.
Pt IX · Ln 25 · col B
<1 mo
of spending, in cash
Plus $1.5M in investments, Pt X · Ln 11–13
Fine: 0.7 months of spending in cash, plus $1.5M in investments.
Pt X · Ln 1–2 · Pt I · Ln 18
Named funders
1
named funder · $5K
Fine: 1 funder names it on their filings; under 3.
Funders’ Sch. I, 990-PF
Liabilities
$0
0% of total assets
Looks good: liabilities are 0% of assets; 50% or less.
Pt X · Ln 26
Independent board members
13
of 13 voting members
Looks good: 13 of 13 voting members are independent, a majority.
Pt VI · Ln 1a–1b
Looks goodFineWorth a lookConcernNo data yetTap a box for the reason.
Revenue
$173K
-9% vs prior year
Spent
$184K
To programs
87%
Net assets
$1.6M
By yearFY2021–FY2026
Revenue
$173K
FY2023▼ -9%
Tap a bar for its year
Revenue by fiscal year
FY2021$125K
FY2022$190K
FY2023$173K
FY2024$180K
FY2025$177K
FY2026$290K
Expenses
$184K
FY2023▲ +47%
Tap a bar for its year
Expenses by fiscal year
FY2021$55K
FY2022$125K
FY2023$184K
FY2024$119K
FY2025$151K
FY2026$472K
Net assets
$1.6M
FY2023▲ +5%
Tap a bar for its year
Net assets by fiscal year
FY2021$1.9M
FY2022$1.6M
FY2023$1.6M
FY2024$1.8M
FY2025$2.0M
FY2026$1.8M

From the FY2023 Form 990 (year ending June 2023) · see the original

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You’re viewing the FY2023 filing — not the latest on file. See the latest (FY2026) →

Is it real?

Yes. Never revoked by the IRS. Latest filing on record: FY2026. IRS ruling in Sep 1994.

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

Where the money goes

87 cents of each dollar spent went to programs.

Program services 87% · $160K Management & general 13% · $24K

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

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Who runs it and what they're paid

13 people listed on the 990.

Part VII, Section A · reportable compensation · most recent filed roster (FY2022); the FY2023 filing did not itemize Part VII
President
$0Pt VII · Sec A
Vice President
$0Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A
Secretary
$0Pt VII · Sec A
Director
$0Pt VII · Sec A
Director
$0Pt VII · Sec A
Director
$0Pt VII · Sec A
See Cannon Falls Educational Foundation executive salaries →

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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

Funds innovative educational programs and activities for Cannon Falls area schools.

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1 program · $160K · in their own filed words · FY2022
01

Funding to or for the benefit of cannon falls area schools AND/OR its students of various supplemental education programs / activities and scholarships.

$160Kprogram 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 · FY2021
Total grants receivedfrom 1 funder$5K
Grants paid · 6 grants · $959K · 2020–2025
Cannon Falls School DistrictFY2025$442,842
Cannon Falls School DistrictFY2024$123,038
Cannon Falls School DistrictFY2023$94,731
Cannon Falls School DistrictFY2022$159,092
Cannon Falls School DistrictFY2021$101,052
Cannon Falls School DistrictFY2020$38,544

By the numbers

The FY2023 990, line by line.

1The main four
Money inPt VIII
$173K
Ln 12
Gifts and grantsLn 1h$67K
Investment incomeLn 3$64K
Other incomeLn 4–11$42K
Money outPt IX
$184K
Ln 25
Programscol B$160K
Managementcol C$24K
Owns and owesPt X
$1.6M
net assets · Ln 32
Cash and savingsLn 1–2$10K
Total assetsLn 16$1.6M
LiabilitiesLn 26$0
PeoplePt VI, VII
13
listed · VII A
PaidVII A0
Voting boardVI 1a13
IndependentVI 1b13
2In more detail
Revenue in detailPt VIII
Gifts and grantsLn 1h$67K
Noncash giftsLn 1g$51K
Investment incomeLn 3$64K
Other incomeLn 4–11$42K
Gains on assetsLn 7−$29K
Total revenueLn 12$173K
Assets in detailPt X, end of year
CashLn 1$4K
SavingsLn 2$6K
Cash and savings togetherLn 1–2$10K
InvestmentsLn 11–13$1.5M
Land, buildings, equipmentLn 10c$0
Other assetsLn 15$77K
Total assetsLn 16$1.6M
LiabilitiesLn 26$0
Net assetsLn 32$1.6M
OperationsPt I, VI
EmployeesI 50
Fiscal year endsHeaderJune
Conflict-of-interest policyVI 12aYes
Whistleblower policyVI 13No
Records policyVI 14No
3Year over year
Balance sheet, start vs end of yearPt X · col A, B
LineStart FY23End FY23
Cash and savingsLn 1–2$15K$10K
InvestmentsLn 11–13$1.5M$1.5M
Land, buildings, equipmentLn 10c$0
Total assetsLn 16$1.6M$1.6M
LiabilitiesLn 26$0$0
Net assetsLn 32$1.6M$1.6M
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Grants to domestic organizationsLn 1$159K$159K
Grants to domestic individualsLn 2$1K$1K
Grants and assistance to foreign recipientsLn 3$0
Benefits paid to or for membersLn 4$0
Pay of current officers, directors and key staffLn 5$0
Pay of disqualified personsLn 6$0
Other salaries and wagesLn 7$0
Pension plan contributionsLn 8$0
Other employee benefitsLn 9$0
Payroll taxesLn 10$0
Management feesLn 11a$0
Legal feesLn 11b$2K$2K
Accounting feesLn 11c$5K$5K
Lobbying feesLn 11d$0
Professional fundraising feesLn 11e$0
Investment management feesLn 11f$14K$14K
Other fees for servicesLn 11g$0
Advertising and promotionLn 12$0
Office expensesLn 13$51$51
Information technologyLn 14$0
RoyaltiesLn 15$0
OccupancyLn 16$0
TravelLn 17$0
Travel and entertainment for public officialsLn 18$0
Conferences, conventions and meetingsLn 19$0
InterestLn 20$0
Payments to affiliatesLn 21$0
Depreciation, depletion and amortizationLn 22$0
InsuranceLn 23$0
Other expenses (24a–d)Ln 24$2K$2K
All other expensesLn 24e$0
Total functional expensesLn 25$184K$160K$24K$0

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2026 Latest $290K$472K−$183K$1.8M 990 PDF
FY2025 $177K$151K$26K$2.0M 990 PDF
FY2024 $180K$119K$61K$1.8M 990 PDF
FY2023 Viewing $173K$184K−$12K$1.6M 990 PDF
FY2022 $190K$125K$65K$1.6M 990 PDF
FY2021 $125K$55K$70K$1.9M 990 PDF

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Schedules filed Part IV

III · Programs R · Related orgs G · Fundraising L · Interested persons I · Grants A · Public support M · Noncash O · Explanations
See the full FY2023 990 (6 parts)
Part I · Summary $172,525 revenue, 12 lines filed
I-8 Contributions and grantsPrior year $28,293$66,920
I-9 Program service revenue$0
I-10 Investment incomePrior year $133,594$64,103
I-11 Other revenuePrior year $27,992$41,502
I-12 Total revenuePrior year $189,879$172,525
I-13 Grants and similar amounts paidPrior year $101,052$160,092
I-14 Benefits paid to members$0
I-15 Salaries and benefits$0
I-16a Professional fundraising fees$0
I-17 Other expensesPrior year $24,194$23,977
I-18 Total expensesPrior year $125,246$184,069
I-19 Revenue less expensesPrior year $64,633−$11,544
Part VI · Governance 13 of 13 board members independent, 3 to look at
VI-1a Voting members of the governing body13
VI-1b Independent voting members13
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 $172,525 across 9 lines filed
VIII-1f All other contributions, gifts and grants$66,920
VIII-1g Noncash contributions (included above)$51,489
VIII-1h Total contributions, gifts and grants$66,920
VIII-3 Investment incomeRelated to mission $93,113$93,113
VIII-5 Royalties$0
VIII-6 Net rental income or loss$0
VIII-7 Net gain or loss on sales of assetsRelated to mission −$29,010−$29,010
VIII-8 Net income from fundraising events$41,502
VIII-12 Total revenueRelated to mission $64,103$172,525
Part IX · Statement of functional expenses $184,069 across 31 lines filed
IX-1 Grants to domestic organizationsPrograms $159,092$159,092
IX-2 Grants to domestic individualsPrograms $1,000$1,000
IX-3 Grants and assistance to foreign recipients$0
IX-4 Benefits paid to or for members$0
IX-5 Pay of current officers, directors and key staff$0
IX-6 Pay of disqualified persons$0
IX-7 Other salaries and wages$0
IX-8 Pension plan contributions$0
IX-9 Other employee benefits$0
IX-10 Payroll taxes$0
IX-11a Management fees$0
IX-11b Legal feesManagement $2,500$2,500
IX-11c Accounting feesManagement $5,495$5,495
IX-11d Lobbying fees$0
IX-11f Investment management feesManagement $13,958$13,958
IX-12 Advertising and promotion$0
IX-13 Office expensesManagement $51$51
IX-14 Information technology$0
IX-15 Royalties$0
IX-16 Occupancy$0
IX-17 Travel$0
IX-18 Travel and entertainment for public officials$0
IX-19 Conferences, conventions and meetings$0
IX-20 Interest$0
IX-21 Payments to affiliates$0
IX-22 Depreciation, depletion and amortization$0
IX-23 Insurance$0
IX-24 Other expenses (24a–d)Management $1,973$1,973
IX-24e All other expenses$0
IX-25 Total functional expensesPrograms $160,092 · Management $23,977 · Fundraising $0$184,069
Part X · Balance sheet $1,637,309 assets, 18 lines filed
X-1 Cash, non-interest-bearingStart of year $8,651$4,479
X-2 Savings and temporary cash investmentsStart of year $5,952$5,966
X-3 Pledges and grants receivable$0
X-4 Accounts receivable$0
X-8 Inventories for sale or use$0
X-9 Prepaid expenses and deferred charges$0
X-10c Land, buildings and equipment, net$0
X-11 Publicly traded securitiesStart of year $1,473,715$1,549,692
X-12 Other securities$0
X-13 Program-related investments$0
X-14 Intangible assets$0
X-15 Other assetsStart of year $77,028$77,172
X-16 Total assetsStart of year $1,565,346$1,637,309
X-26 Total liabilitiesStart of year $0$0
X-27 Net assets without donor restrictionsStart of year $144,904$191,713
X-28 Net assets with donor restrictionsStart of year $1,420,442$1,445,596
X-32 Total net assets or fund balancesStart of year $1,565,346$1,637,309
X-33 Total liabilities and net assetsStart of year $1,565,346$1,637,309
Part XI · Reconciliation of net assets $1,637,309 net assets at year end
XI-1 Total revenue$172,525
XI-2 Total expenses$184,069
XI-3 Revenue less expenses−$11,544
XI-4 Net assets at start of year$1,565,346
XI-5 Net unrealized gains (losses) on investments$83,507
XI-10 Net assets at end of year$1,637,309

Form 990 e-file (XML) FY2023 from the IRS · Classification, formation year and address from the IRS Business Master File

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