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Florence Lake Charitable Trust

Tax-deductible

Grand Forks, ND501(c)(3) EIN 45-6081104Revenue $156K in FY2024

On file with the IRS2300 S Columbia Rd, 58201-5826 · Grand Forks, NDTax-exempt since Oct 1993Supporting organization — 509(a)(3)

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501(c)(3) charity; gifts are tax-deductible.
91¢ of each $1 spent went to programs.
$18K paid to officers and key staff.
Status: IRS Pub. 78 · Programs: Part IX · Pay: Part VII

Before you give

FY2024 · 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
FY2024
latest Form 990
Looks good: the latest return is for FY2024, 2 tax years back; within 2 tax years.
IRS e-file · Filing history
Surplus or deficit
3 of 4
filings with a surplus
Average surplus $21K a year · 14% of revenue · last 4 filings
Fine: a surplus in 3 of the last 4 filings.
Pt I · Ln 19 · 4 filings
Spent on programs
91%
of spending
Looks good: 91% of spending went to programs; 75% or more.
Pt IX · Ln 25 · col B
Pay to officers and key staff
$18K
to officers and key staff · 14% of spending
Looks good: pay to officers and key staff is 14% of spending; 15% or less.
Pt VII · Sec A
Cash reserves
3 mo
of spending, in cash
Plus $3.0M in investments, Pt X · Ln 11–13
Looks good: 3.2 months of spending in cash; 3 or more.
Pt X · Ln 1–2 · Pt I · Ln 18
Liabilities
$0
0% of total assets
Looks good: liabilities are 0% of assets; 50% or less.
Pt X · Ln 26
Independent board members
2
of 3 voting members
Looks good: 2 of 3 voting members are independent, a majority.
Pt VI · Ln 1a–1b
Looks goodFineWorth a lookConcernNo data yetTap a box for the reason.
Revenue
$156K
+130% vs prior year
Spent
$133K
To programs
91%
Net assets
$3.0M
By yearFY2020–FY2024
Revenue
$156K
FY2024▲ +130%
Tap a bar for its year
Revenue by fiscal year
FY2020$191K
FY2022$164K
FY2023$68K
FY2024$156K
Expenses
$133K
FY2024▲ +9%
Tap a bar for its year
Expenses by fiscal year
FY2020$113K
FY2022$126K
FY2023$122K
FY2024$133K
Net assets
$3.0M
FY2024-0.4%
Tap a bar for its year
Net assets by fiscal year
FY2020$2.8M
FY2022$3.1M
FY2023$3.0M
FY2024$3.0M

From the FY2024 Form 990 · see the original

990 PDF Claim

Is it real?

Yes. Never revoked by the IRS. Latest filing on record: FY2024. IRS ruling in Oct 1993.

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

Where the money goes

91 cents of each dollar spent went to programs.

Program services 91% · $122K Management & general 9% · $11K

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

3 people listed on the 990; $18K paid to officers and key staff.

Part VII, Section A · reportable compensation
$18,226Pt VII · Sec A
Perter Halbach
Co-Trustee
$0Pt VII · Sec A
Maren Halbach
Co-Trustee
$0Pt VII · Sec A
See Florence Lake Charitable Trust 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

Florence Lake Charitable Trust is a supporting organization based in Grand Forks, ND.

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Provided by the organization

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3 programs · $122K · in their own filed words · FY2024
01

Support for the Devils Lake Area Foundation

$41Kprogram expense
02

Support to the Central Institute for the Deaf.

$41Kprogram expense
03

Support for the Lake Region Community College Foundation of Devils Lake

$41Kprogram expense

Funders

Who pays for it.

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

Grants

Schedule I · this organization's grantmaking
Grants paid · 6 grants · $192K · 2020–2024
Lake Region Community College Foundation of Devils LakeND · FY2024$34,541
Central Institute for the DeafMO · FY2024$34,531
Lake Region Community College Foundation of Devils LakeFY2024$34,531
Central Institute for the DeafMO · FY2020$29,314
Lake Region Community College Foundation of Devils LakeND · FY2020$29,305
Community College FoundationFY2020$29,305

By the numbers

The FY2024 990, line by line.

Download 990
from philanthropy.org
1The main four
Money inPt VIII
$156K
Ln 12
Investment incomeLn 3$156K
Money outPt IX
$133K
Ln 25
Programscol B$122K
Managementcol C$11K
Owns and owesPt X
$3.0M
net assets · Ln 32
Cash and savingsLn 1–2$35K
Total assetsLn 16$3.0M
LiabilitiesLn 26$0
PeoplePt VI, VII
3
listed · VII A
PaidVII A1
Voting boardVI 1a3
IndependentVI 1b2
2In more detail
Revenue in detailPt VIII
Investment incomeLn 3$156K
Gains on assetsLn 7$45K
Total revenueLn 12$156K
Assets in detailPt X, end of year
SavingsLn 2$35K
Cash and savings togetherLn 1–2$35K
InvestmentsLn 11–13$3.0M
Total assetsLn 16$3.0M
LiabilitiesLn 26$0
Net assetsLn 32$3.0M
OperationsPt I, VI
EmployeesI 50
Fiscal year endsHeaderDecember
Conflict-of-interest policyVI 12aNo
Whistleblower policyVI 13No
Records policyVI 14No
3Year over year
Balance sheet, start vs end of yearPt X · col A, B
LineStart FY24End FY24
Cash and savingsLn 1–2$8K$35K
InvestmentsLn 11–13$3.0M$3.0M
Total assetsLn 16$3.0M$3.0M
LiabilitiesLn 26$0$0
Net assetsLn 32$3.0M$3.0M
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Grants to domestic organizationsLn 1$104K$104K
Pay of current officers, directors and key staffLn 5$25K$18K$6K
Legal feesLn 11b$4K$4K
Accounting feesLn 11c$1K$1K
Investment management feesLn 11f$0$0
Other fees for servicesLn 11g$0$0
Other expenses (24a–d)Ln 24$567$567
Total functional expensesLn 25$133K$122K$11K$0

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2024 Latest Viewing $156K$133K$22K$3.0M 990 PDF
FY2023 $68K$122K−$55K$3.0M 990 PDF
FY2022 $164K$126K$38K$3.1M 990 PDF
FY2021 Not on file
FY2020 $191K$113K$77K$2.8M 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 O · Explanations
See the full FY2024 990 (6 parts)
Part I · Summary $155,680 revenue, 12 lines filed
I-8 Contributions and grants$0
I-9 Program service revenue$0
I-10 Investment incomePrior year $67,619$155,680
I-11 Other revenue$0
I-12 Total revenuePrior year $67,619$155,680
I-13 Grants and similar amounts paidPrior year $97,561$103,602
I-14 Benefits paid to members$0
I-15 Salaries and benefitsPrior year $17,809$24,657
I-16a Professional fundraising fees$0
I-17 Other expensesPrior year $6,784$5,067
I-18 Total expensesPrior year $122,154$133,326
I-19 Revenue less expensesPrior year −$54,535$22,354
Part VI · Governance 2 of 3 board members independent, 4 to look at
VI-1a Voting members of the governing body3
VI-1b Independent voting members2
VI-12a Written conflict of interest policyNo
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
Part VIII · Statement of revenue $155,680 across 3 lines filed
Lines not itemized here account for $1,003 of total revenue; see the IRS return.
VIII-3 Investment incomeExcluded from tax $109,433$109,433
VIII-7 Net gain or loss on sales of assetsExcluded from tax $45,244$45,244
VIII-12 Total revenueExcluded from tax $155,680$155,680
Part IX · Statement of functional expenses $133,326 across 7 lines filed
IX-1 Grants to domestic organizationsPrograms $103,602$103,602
IX-5 Pay of current officers, directors and key staffPrograms $18,226 · Management $6,431$24,657
IX-11b Legal feesManagement $3,500$3,500
IX-11c Accounting feesManagement $1,000$1,000
IX-11f Investment management feesFundraising $0$0
IX-11g Other fees for servicesManagement $0$0
IX-24 Other expenses (24a–d)Management $567$567
IX-25 Total functional expensesPrograms $121,828 · Management $11,498 · Fundraising $0$133,326
Part X · Balance sheet $3,030,420 assets, 6 lines filed
X-2 Savings and temporary cash investmentsStart of year $8,320$35,317
X-11 Publicly traded securitiesStart of year $3,033,755$2,995,103
X-16 Total assetsStart of year $3,042,075$3,030,420
X-26 Total liabilitiesStart of year $0$0
X-32 Total net assets or fund balancesStart of year $3,042,075$3,030,420
X-33 Total liabilities and net assetsStart of year $3,042,075$3,030,420
Part XI · Reconciliation of net assets $3,030,420 net assets at year end
XI-1 Total revenue$155,680
XI-2 Total expenses$133,326
XI-3 Revenue less expenses$22,354
XI-4 Net assets at start of year$3,042,075
XI-8 Prior period adjustments−$34,451
XI-9 Other changes in net assets$442
XI-10 Net assets at end of year$3,030,420

Form 990 e-file (XML) FY2024 from the IRS · Classification, formation year and address from the IRS Business Master File

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