The Cag Foundation

EIN 45-5459780 Public charity (501(c)(3)) Akeley, MN NTEE Z99
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Revenue & expenses by yearFY2020–FY2024
Revenue
$80K
FY2024▼ -31%
Expenses
$64K
FY2024▼ -39%

Form 990 for the fiscal year ending December 2024 (IRS tax year 2024).


Hosts fishing tournaments to fund local scholarships and youth sports programs. For fiscal year 2024 it reported $80K in revenue, $64K in expenses, and $72K in net assets.Pt I

Type
Public charity (501(c)(3)) · Unclassified
Location
Akeley, MN
Filings
5 on file (2020–2024)
Revenue
$80KFY2024
Expenses
$64K
Net assets
$72K
People
4
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Provided by the organization

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Size
<$100K
What they do
Hosts fishing tournaments to fund local scholarships and youth sports programs.
Leadership
John Lowen · Chariman
Money in and out
$80K revenue, $64K expenses
Bottom line
98% program efficiency

What Funders Ask

From IRS filings

Tax-deductible?

good Yes

Per the IRS master file. Details →

Can I give now?

good No revocation on IRS record

Not on the IRS revocation list. Details →

Filing up to date?

good Filed FY2024 (typical filing lag)

Details →

Foundation funders?

good 1 funder — Enterprise Holdings Foundation

$3K in the latest grant year. Details →

Spent on programs?

good 98% to programs

Form 990 Part IX, latest filing. Details →

Size and trend

<$100K

↓ -31% vs prior year Details →

Where the money goes · FY2024
Total revenue
$80K
Pt VIII · Ln 12
Total expenses
$64K
Pt IX · Ln 25
Net assets
$72K
Pt X · Ln 32
Revenue less expenses (Pt I · Ln 19): $17K
Where spending went · Part IX cols B–D
Program services $0.98 Management & general $0.01 Fundraising $0.01
Program efficiency
98%
of spending reaches programs▼ -1.0% vs prior filing year
Operating runway
24.3mo
months of highly liquid reserves at operating expense rate▲ +54% vs prior filing year
Surplus margin
+21%
revenue over expenses, this year▲ +83% vs prior filing year

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Summary of the Filing

Part I · fiscal year 2024 · Form 990
Total assets
$130K
FY2024▼ -6%
Total liabilities
$58K
FY2024▼ -30%
Revenue less expensesPt I · Ln 19$17K
Total assetsPt X · Ln 16$130K
Program-expense ratioPt IX · col B98%
Voting members of governing bodyPt I · Ln 34
Independent voting membersPt I · Ln 4pending

Identity & Classification

Form 990 Header · IRS Business Master File
Legal name (IRS)Hdr · item CThe Cag Foundation
EINHdr · item D45-5459780
Principal addressHdr · item CAkeley, MN
WebsiteHdr · item Jnone reported
Year of formationHdr · item Lpending
State of legal domicileHdr · item MMN
Exempt statusHdr · item I501(c)(3) · active
NTEE classificationIRS BMFUnclassified (Z99)
Ruling yearIRS BMFAug 2014

Governance & Policies

Part VI
Voting members of the governing bodyPt VI · Ln 1a4
Independent voting membersPt VI · Ln 1bpending
Conflict-of-interest policyPt VI · Ln 12aNo
Whistleblower policyPt VI · Ln 13No
Document retention policyPt VI · Ln 14No
CEO/top-official compensation independently reviewedPt VI · Ln 15aNo
Family or business relationships among officers/directorsPt VI · Ln 2No

Officers, Directors & Key Employees

Part VII, Section A · reportable compensation
Chariman
$0Pt VII · Sec A
Vice Chair
$0Pt VII · Sec A
Director
$0Pt VII · Sec A
$0Pt VII · Sec A
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Mission & Programs · Part III

Where the work happens

1 program service account for $63K of program spending, described in the organization's own filed words · FY2024.
01

The organization provided $50,350 to local schools and youth groups for scholarships and sport programs

$63Kprogram expense

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Statement of Revenue

Part VIII
Other revenue$77K · 96%
Contributions & grants$3K · 3%
Investment income$713 · 1%
Other revenue96%$77K
Contributions & grants3%$3K
Investment income1%$713
Total revenueLn 12$80K

Statement of Functional Expenses

Part IX · allocated across program, management, and fundraising
Allocation · columns B–D
Program services $0.98 Management & general $0.01 Fundraising $0.01
Program services98%$63K
Management & general1%$533
Fundraising1%$533
Total functional expensesLn 25$64K

Balance Sheet

Part X · end of year
CashLn 1$129K
Total assetsLn 16$130K
Total liabilitiesLn 26$58K
Total net assetsLn 32$72K
Months of cash on handcomputed24.3

Financial Metrics

Form 990 · FY2024 · each ratio shown with the dollars behind it
Liquidity & Payout
Operating runway
Highly liquid reserves $129K · Operating expenses/yr $64K
24.3 months
Where the money goes
Program services
Program services $63K · Total expenses $64K
98%
Management & General
Management & general $533 · Total expenses $64K
0.8%
Fundraising
Fundraising $533 · Total expenses $64K
0.8%
Cost to raise $1
Fundraising expense (2-yr avg) $448 · Solicited contributions (2-yr avg) $32K
$0.01 to raise $1 (2-yr avg)
Where the money comes from
Contribution dependence
Contributions & grants $3K · Total revenue $80K
3%
Government reliance
Government grants — · Total revenue $80K
—
Earned-income share
Program service revenue $0 · Total revenue $80K
0%
Investment reliance
Investment income $713 · Total revenue $80K
+0.9%
Program self-sufficiency
Program service revenue $0 · Total expenses $64K
0%
Growth & trend
Revenue growth (YoY)
This year $80K · Prior year $117K
-31%
Revenue CAGR
FY2020 $26K · FY2024 $80K
+32%
Net-asset trend (YoY)
End of year $72K · Beginning of year —
Beginning net assets not meaningfully positive — showing dollar change
Balance sheet
Surplus Margin
Revenue $80K · Expenses $64K
+21%
Liabilities-to-Assets
Total liabilities — · Total assets $130K
—
Net-asset ratio
Net assets $72K · Total assets $130K
55%
Marketable Investment Share
Publicly traded securities (Pt X, ln 11) — · Other securities (Pt X, ln 12) — · Total assets (Pt X, ln 16) $130K
Excludes program-related investments (Pt X, ln 13)
People & payroll
Highest Reported Total Compensation
Individual John Lowen · Reported title CHARIMAN · Highest reported compensation $0 · Total expenses $64K
0%
Personnel share
Salaries, benefits & payroll (Pt IX 5-10) — · Total expenses $64K
—
Peer comparison

Same NTEE category, revenue band, and state where available. Descriptive — not a grade.

MetricThis orgPeer medianPercentile
Program ratio 98%——
Overhead ratio 0.8%——
Fundraising cost ratio 21%——
Revenue growth -31%——
Accounting fee ratio 0.7%——

Straight from the Form 990 — descriptive, not an evaluation. A ratio is hidden when its base is zero or too small to be meaningful; the dollars are always shown.

Grants

Schedule I · received and paid
Grants received · FY2023
Total grants receivedfrom 1 funder$3K
Grants paid · 5 grants · $113K · 2023–2024
Kiwanis International INCMN · FY2024$6,000
Rock Ridge School District #2909FY2023$60,000
Kiawanis Club of HibbingFY2023$6,000

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Filings & Schedule Manifest

Part IV
III · Programs I · Grants R · Related orgs G · Fundraising L · Interested persons A · Public support F · Foreign M · Noncash
FY2024 (Latest)$80K revenue · viewing · ⤓ 990 PDF
FY2023$117K revenue · ⤓ 990 PDF
FY2022$40K revenue · ⤓ 990 PDF
FY2021$30K revenue · ⤓ 990 PDF
FY2020$26K revenue · ⤓ 990 PDF

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Sources

Every figure above is drawn from these filings
Form 990 e-file (XML) · FY2024IRS
Classification, formation year, addressIRS Business Master File
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