The Devils Lake Area Foundation EIN 46-6040496 Form 990 (PDF) Claim this org

The Devils Lake Area Foundation

Not yet claimed Claim this org →

Distributes income from its assets to charities in the Devils Lake, ND area. For fiscal year 2024 it reported $750K in revenue, $275K in expenses, and $8.7M in net assets.Pt I

Founded
1975
Type
Public foundation / grantmaker · Foundations & Grantmakers
Location
Devils Lake, ND
Filings
4 on file (2021–2024)
Revenue
$750KFY2024
Expenses
$275K
Net assets
$8.7M
People
9
Filings
4
Updates
0
More identity details & actions ⌄
EIN  46-6040496 Public foundation / grantmaker Devils Lake, ND Founded 1975
Form 990 (PDF)
Compare with another nonprofit →
Is this your organization?
Claim this profile to manage it and share your story.
Claim
Provided by the organization

This section is blank until The Devils Lake Area Foundation claims this page.

Know this organization? Claim it to add your story

Size
$100K–1M
What they do
Distributes income from its assets to charities in the Devils Lake, ND area.
Leadership
First United Bank · Trustee · $68K
Money in and out
$750K revenue, $275K expenses
Bottom line
71% program efficiency
Grants paid & assets · FY2024
Total revenue
$750K
Pt VIII · Ln 12
Total expenses
$275K
Pt IX · Ln 25
Net assets
$8.7M
Pt X · Ln 32
Revenue less expenses (Pt I · Ln 19): $475K
Where spending went · Part IX cols B–D
Program services $0.71 Management & general $0.25 Fundraising $0.04
Program efficiency
71%
of spending reaches programs+0.04% vs prior filing year
Operating runway
482.7mo
months of highly liquid reserves at operating expense rate▲ +2% vs prior filing year
Surplus margin
+63%
revenue over expenses, this year▲ +96% vs prior filing year

Summary of the Filing

Part I · fiscal year 2024 · Form 990
Revenue
$750K
FY2024▲ +97%
Expenses
$275K
FY2024▲ +7%
Total assets
$12.2M
FY2024▲ +8%
Total liabilities
$3.5M
FY2024▲ +6%
Total revenue
$750K
Pt VIII · Ln 12
Total expenses
$275K
Pt IX · Ln 25
Net assets
$8.7M
Pt X · Ln 32
Revenue less expensesPt I · Ln 19$475K
Total assetsPt X · Ln 16$12.2M
Program-expense ratioPt IX · col B71%
Voting members of governing bodyPt I · Ln 37
Independent voting membersPt I · Ln 47

Identity & Classification

Form 990 Header · IRS Business Master File
Legal nameHdr · item CThe Devils Lake Area Foundation
EINHdr · item D46-6040496
Principal addressHdr · item CDevils Lake, ND
WebsiteHdr · item Jnone reported
Year of formationHdr · item L1975
State of legal domicileHdr · item MND
Exempt statusHdr · item I501(c)(3) · active
NTEE classificationIRS BMFFoundations & Grantmakers (T31)
Ruling yearIRS BMFFeb 1976

Governance & Policies

Part VI
Voting members of the governing bodyPt VI · Ln 1a7
Independent voting membersPt VI · Ln 1b7
Conflict-of-interest policyPt VI · Ln 12aYes
Whistleblower policyPt VI · Ln 13Yes
Document retention policyPt VI · Ln 14Yes
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
$67,809Pt VII · Sec A
Director
$0Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A
Director
$0Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A
Director
$0Pt VII · Sec A

First United Bank’s $68K as Trustee is at the 64th percentile of top reported officer pay among 1263 $100K–1M philanthropy & grantmaking nonprofits. Peer set: organizations in the same NTEE major field of work and revenue-size band, compared on each org’s own highest-paid officer/key-employee, from Form 990 Part VII / 990-PF Part VIII. Descriptive placement, not a verdict on whether the pay is appropriate.

Compensation history total reportable pay by year · 2 named individuals · Part VII

NameFY2024FY2024FY2023FY2022FY2021
Ramsey National Bank$80,414$80,844
First United Bank$67,809$62,949$61,785

Total reportable compensation (Form 990 Part VII column D / Schedule J column E) by filing year, matched by name within this organization. The Schedule J base / bonus / deferred breakdown is not parsed into this dataset.

See The Devils Lake Area Foundation executive salaries →

Are you one of these people? Claim this org to confirm your role

Mission & Programs · Part III

Where the work happens

1 program service account for $195K of program spending, described in the organization's own filed words · FY2024.
01

Awarding of grants to charitable organizations within the devils lake area.

$195Kprogram expense

Run this program? Claim this org to tell your story

Statement of Revenue

Part VIII
Investment income$427K · 57%
Contributions & grants$314K · 42%
Other revenue$9K · 1%
Investment income57%$427K
Contributions & grants42%$314K
Other revenue1%$9K
Total revenueLn 12$750K

Statement of Functional Expenses

Part IX · allocated across program, management, and fundraising
Allocation · columns B–D
Program services $0.71 Management & general $0.25 Fundraising $0.04
Program services71%$195K
Management & general25%$68K
Fundraising4%$12K
Total functional expensesLn 25$275K

Balance Sheet

Part X · end of year
CashLn 1$939K
Total assetsLn 16$12.2M
Total liabilitiesLn 26$3.5M
Total net assetsLn 32$8.7M
Months of cash on handcomputed41.1

Financial Metrics

Form 990 · FY2024 · each ratio shown with the dollars behind it
Liquidity & Payout
Operating runway
Highly liquid reserves $11.0M · Operating expenses/yr $275K
482.7 months
Where the money goes
Program services
Program services $195K · Total expenses $275K
71%
Management & General
Management & general $68K · Total expenses $275K
25%
Fundraising
Fundraising $12K · Total expenses $275K
4%
Cost to raise $1
Fundraising expense (3-yr avg) $12K · Solicited contributions (3-yr avg) $164K
$0.07 to raise $1 (3-yr avg)
Where the money comes from
Contribution dependence
Contributions & grants $314K · Total revenue $750K
42%
Government reliance
Government grants — · Total revenue $750K
Earned-income share
Program service revenue $0 · Total revenue $750K
0%
Investment reliance
Investment income $427K · Total revenue $750K
+57%
Program self-sufficiency
Program service revenue $0 · Total expenses $275K
0%
Growth & trend
Revenue growth (YoY)
This year $750K · Prior year $381K
+97%
Revenue CAGR
FY2020 $546K · FY2024 $750K
+8%
Net-asset trend (YoY)
End of year $8.7M · Beginning of year —
Beginning net assets not meaningfully positive — showing dollar change
Balance sheet
Surplus Margin
Revenue $750K · Expenses $275K
+63%
Liabilities-to-Assets
Total liabilities — · Total assets $12.2M
Net-asset ratio
Net assets $8.7M · Total assets $12.2M
71%
Marketable Investment Share
Publicly traded securities (Pt X, ln 11) — · Other securities (Pt X, ln 12) $10.1M · Total assets (Pt X, ln 16) $12.2M
83%
People & payroll
Highest Reported Total Compensation
Individual First United Bank · Reported title TRUSTEE · Highest reported compensation $68K · Total expenses $275K
25%
Personnel share
Salaries, benefits & payroll (Pt IX 5-10) — · Total expenses $275K
Peer comparison

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

MetricThis orgPeer medianPercentile
Program ratio 71%
Overhead ratio 25%
Fundraising cost ratio 4%
Revenue growth 97%

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 · FY2024
Total grants receivedfrom 1 funder$216K
Grants paid · 37 grants · $614K · 2020–2024
Devils Lake Public SchoolsFY2024$52,901
Lake Region State CollegeFY2024$13,152
Devils Lake Park DistrictFY2024$11,614
Lake Region Public LibraryFY2024$10,230
St Olaf Lutheran ChurchND · FY2024$6,657
Hope CenterFY2024$5,779
Devils Lake Public SchoolsFY2023$56,042
Lake Region State CollegeFY2023$14,586
Lake Region Public LibraryFY2023$11,316
See all 37 grants →

Compare

Search another nonprofit to view revenue, expenses, assets, key metrics, and leaders side by side

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$381K revenue · ⤓ 990 PDF
FY2023$328K revenue · ⤓ 990 PDF
FY2022$382K revenue · ⤓ 990 PDF
FY2021$546K revenue · ⤓ 990 PDF

Want to add your own materials alongside these filings? Claim this org

Sources

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

The names, titles, and compensation shown on this page are reproduced from IRS Form 990 filings, which are public records.

Philanthropy.org does not alter the content of those filings. All information appears exactly as reported by the filing organization for the tax year shown.

We publish only information contained in the public IRS filing — and less than the filing contains. Our profile pages do not display street addresses, telephone numbers, personal email addresses, or other personal contact information, even where the filing includes them.

Many people share the same name. A name shown on this page reflects only what one organization reported in one IRS filing for one tax year. It should not be interpreted as identifying any other individual with the same or a similar name.

If you are no longer affiliated with the organization, your name will generally stop appearing in future IRS filings once the organization no longer reports you. Pages for tax years in which you were reported remain published because those filings remain part of the public record.

Philanthropy.org does not alter or remove IRS filing records. Removing a page from this website would not remove the underlying IRS filing, which remains publicly available from the IRS and other publishers of the same information.

If you believe the IRS filing itself is inaccurate, corrections must be made by the filing organization or the IRS directly.

If you ARE the filing organization, claim this org and add context

Made it to the end? Claim this organization

All figures are derived from public IRS Form 990 filings and are presented without evaluation of any organization. philanthropy.org does not rate, score, or rank organizations, including the peer-cohort and compensation comparisons above.