The Devils Lake Area Foundation FY2021 filing

Devils Lake, ND · Public foundation / grantmaker · Since 1975 · Foundations & Grantmakers

✓ Tax-deductible
Revenue
$546K
Spent
$159K
To programs
100%
Net assets
$7.7M
By yearFY2021–FY2024
Revenue
$546K
FY2021
Revenue by fiscal year
FY2021$546K
FY2022$382K
FY2023$328K
FY2024$381K
FY2024$750K
Expenses
$159K
FY2021
Expenses by fiscal year
FY2021$159K
FY2022$175K
FY2023$238K
FY2024$258K
FY2024$275K
Net assets
$7.7M
FY2021
Net assets by fiscal year
FY2021$7.7M
FY2022$7.0M
FY2023$7.0M
FY2024$8.0M
FY2024$8.7M

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

You’re viewing the FY2021 filing — not the latest on file. See the latest (FY2024) →

Status and standing

Is it real, and can you give to it?

Tax-deductible?
Yes
Per the IRS master file.
Can I give now?
No revocation on IRS record
Not on the IRS revocation list.
Filing up to date?
Filed FY2024 (typical filing lag)
Legal name (IRS)Hdr · item CThe Devils Lake Area Foundation
EINHdr · item D46-6040496
Exempt statusHdr · item I501(c)(3) · active
Ruling yearIRS BMFFeb 1976
Year of formationHdr · item L1975
Latest filingForm 990FY2024 · Form 990
Principal addressHdr · item CDevils Lake, ND
NTEE classificationIRS BMFFoundations & Grantmakers (T31)

Where the money goes

What each dollar paid for.

Statement of Functional Expenses

Part IX · allocated across program, management, and fundraising
Allocation · columns B–D
Program services $1.00
Program services100%$159K
Total functional expensesLn 25$159K

Financial health

Is it on solid ground?

Program efficiency
100%
of spending reaches programs
Operating runway
724.0mo
months of highly liquid reserves at operating expense rate
Surplus margin
+71%
revenue over expenses, this year

Summary of the Filing

Part I · fiscal year 2021 · Form 990
Total assets
$10.7M
FY2021
Total assets by fiscal year
FY2021$10.7M
FY2022$9.8M
FY2023$10.0M
FY2024$11.3M
FY2024$12.2M
Total liabilities
$3.1M
FY2021
Total liabilities by fiscal year
FY2021$3.1M
FY2022$2.8M
FY2023$2.9M
FY2024$3.3M
FY2024$3.5M
Revenue less expensesPt I · Ln 19$387K
Total assetsPt X · Ln 16$10.7M
Program-expense ratioPt IX · col B100%
Voting members of governing bodyPt I · Ln 37
Independent voting membersPt I · Ln 47

Balance Sheet

Part X · end of year
CashLn 1$204K
Total assetsLn 16$10.7M
Total liabilitiesLn 26$3.1M
Total net assetsLn 32$7.7M
Months of cash on handcomputed15.4

Statement of Revenue

Part VIII
Investment income$331K · 61%
Contributions & grants$146K · 27%
Other revenue$70K · 13%
Investment income61%$331K
Contributions & grants27%$146K
Other revenue13%$70K
Total revenueLn 12$546K

Financial Metrics

Form 990 · FY2021 · each ratio shown with the dollars behind it
Liquidity & Payout
Operating runway
Highly liquid reserves $9.6M · Operating expenses/yr $159K
724.0 months
Where the money goes
Program services
Program services $159K · Total expenses $159K
100%
Management & General
Management & general $0 · Total expenses $159K
0%
Fundraising
Fundraising $0 · Total expenses $159K
0%
Cost to raise $1
Fundraising expense $0 · Solicited contributions $146K
Solicited contributions below reporting floor
Where the money comes from
Contribution dependence
Contributions & grants $146K · Total revenue $546K
27%
Government reliance
Government grants — · Total revenue $546K
—
Earned-income share
Program service revenue $0 · Total revenue $546K
0%
Investment reliance
Investment income $331K · Total revenue $546K
+61%
Program self-sufficiency
Program service revenue $0 · Total expenses $159K
0%
Growth & trend
Revenue growth (YoY)
This year $546K · Prior year —
No prior year on file
Net-asset trend (YoY)
End of year $7.7M · Beginning of year —
Beginning net assets not meaningfully positive — showing dollar change
Balance sheet
Surplus Margin
Revenue $546K · Expenses $159K
+71%
Liabilities-to-Assets
Total liabilities — · Total assets $10.7M
—
Net-asset ratio
Net assets $7.7M · Total assets $10.7M
71%
Marketable Investment Share
Publicly traded securities (Pt X, ln 11) — · Other securities (Pt X, ln 12) $9.4M · Total assets (Pt X, ln 16) $10.7M
88%
People & payroll
Highest Reported Total Compensation
Individual Ramsey National Bank · Reported title TRUSTEE · Highest reported compensation $81K · Total expenses $159K
51%
Personnel share
Salaries, benefits & payroll (Pt IX 5-10) $54K · Total expenses $159K
34%
Peer comparison

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

MetricThis orgPeer medianPercentile
Program ratio 100%——
Overhead ratio 0%——
Fundraising cost ratio 0%——
Accounting fee ratio 4%——

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.

Leadership and pay

Who runs it, and what are they paid?

Officers, Directors & Key Employees

Part VII, Section A · reportable compensation · most recent filed roster (FY2020); the FY2021 filing did not itemize Part VII
$80,844Pt VII · Sec A
$0Pt VII · Sec A
Director
$0Pt VII · Sec A
Director
$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 1264 $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 →

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Governance & Policies

Part VI
  • 7Voting board membersPt VI · Ln 1a
  • 7Independent board membersPt VI · Ln 1b
  • Conflict-of-interest policyPt VI · Ln 12aYes
  • Whistleblower policyPt VI · Ln 13Yes
  • Document retention policyPt VI · Ln 14Yes
  • Top official’s pay independently reviewedPt VI · Ln 15aNo
  • Family or business ties among leadersPt VI · Ln 2No

Mission and programs

What it does.

Distributes income from its assets to charities in the Devils Lake, ND area.

Provided by the organization

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

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Mission & Programs · Part III

Where the work happens

1 program service account for $159K of program spending, described in the organization's own filed words · FY2020.
01

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

$159Kprogram expense

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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 · 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 →

Filing history

Every return on file.

YearRevenueExpensesChangeFiling
FY2024 $381K$258K+16% 990 PDF
FY2023 $328K$238K-14% 990 PDF
FY2022 $382K$175K-30% 990 PDF
FY2021 Viewing $546K$159K 990 PDF

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Schedules filed Part IV

III · Programs I · Grants R · Related orgs G · Fundraising L · Interested persons A · Public support F · Foreign M · Noncash

Not shown yet: ratings, outcomes, and peer benchmarks. A Form 990 doesn’t report them.

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Sources

Every figure above is drawn from these filings
Form 990 e-file (XML) · FY2021IRS
Classification, formation year, addressIRS Business Master File
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