Minnewaska Laker Foundation

Tax-deductible

Glenwood, MN501(c)(3)Since 2007EducationEIN 71-1041194

To support, aid, promote, enhance and improve the activities programs (including athletics, fine arts, music and academic activities) of the Minnewaska Area School District # 2149 in Pope County, Minnesota. To enhance and secure student opportunities to participate in activities and to strengthen the relationship that exists between the school district, it's alumni and the communities that it serves, including Glenwood, Lowry, Starbuck, Sedan and Villard. To strengthen the educational system of the school district.

501(c)(3) charity; gifts are tax-deductible.
98¢ of each $1 spent went to programs.
Mission: Form 990 Part I, line 1 · Status: IRS Pub. 78 · Programs: Part IX

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 3
filings with a surplus
Average surplus $915K a year · 97% of revenue · last 3 filings
Looks good: a surplus in 3 of the last 3 filings.
Pt I · Ln 19 · 3 filings
Spent on programs
98%
of spending
Looks good: 98% of spending went to programs; 75% or more.
Pt IX · Ln 25 · col B
Cash reserves
17 mo
of spending, in cash
Looks good: 17.2 months of spending in cash; 3 or more.
Pt X · Ln 1–2 · Pt I · Ln 18
Named funders
1
named funder · $2K
Fine: 1 funder names it on their filings; under 3.
Funders’ Sch. I, 990-PF
Liabilities
$155K
4% of total assets
Looks good: liabilities are 4% of assets; 50% or less.
Pt X · Ln 26
Independent board members
9
of 9 voting members
Looks good: 9 of 9 voting members are independent, a majority.
Pt VI · Ln 1a–1b
Looks goodFineWorth a lookConcernNo data yetTap a box for the reason.
Revenue
$739K
-68% vs prior year
Spent
$58K
To programs
98%
Net assets
$3.5M
By yearFY2021–FY2024
Revenue
$739K
FY2024▼ -68%
Revenue by fiscal year
FY2021$65K
FY2022$377K
FY2023$139K
FY2024$2.3M
FY2024$739K
Expenses
$58K
FY2024▲ +40%
Expenses by fiscal year
FY2021Not on file
FY2022$8K
FY2023$41K
FY2024$42K
FY2024$58K
Net assets
$3.5M
FY2024▲ +32%
Net assets by fiscal year
FY2021−$151K
FY2022$212K
FY2023$310K
FY2024$2.6M
FY2024$3.5M

From the FY2024 Form 990 · see the original

Give Claim

Is it real?

Yes. Never revoked by the IRS. Latest filing on record: FY2024. IRS ruling in Jan 2008.

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

Where the money goes

98 cents of each dollar spent went to programs.

Program services 98% · $57K Management & general 2% · $1K

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

Who runs it and what they're paid

18 people listed on the 990.

Part VII, Section A · reportable compensation
Director
$0Pt VII · Sec A
Past President
$0Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A
Director
$0Pt VII · Sec A
Director
$0Pt VII · Sec A
See Minnewaska Laker 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

Enhances school activities, student opportunities, and community connections for a Minnesota school district.

Provided by the organization

This section is blank until Minnewaska Laker Foundation claims this page.

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1 program service account for $57K of program spending, described in the organization's own filed words · FY2024.
01

The foundation donated funds to the Minnewaska Area School District #2149 to help cover the shortfall for extra curricular expenses for students in athletics, academic organizations, music and arts. The total donations to Minnewaska Area Schools totaled $30,460.

$57Kprogram 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 · funders on record
Grants received · FY2024
Total grants receivedfrom 1 funder$2K

By the numbers

The FY2024 990, line by line.

1The main four
Money inPt VIII
$739K
Ln 12
Investment incomeLn 3$638K
Gifts and grantsLn 1h$64K
Other incomeLn 4–11$37K
Money outPt IX
$58K
Ln 25
Programscol B$57K
Managementcol C$1K
Owns and owesPt X
$3.5M
net assets · Ln 32
Cash and savingsLn 1–2$84K
Total assetsLn 16$3.6M
LiabilitiesLn 26$155K
PeoplePt VI, VII
18
listed · VII A
PaidVII A0
Voting boardVI 1a9
IndependentVI 1b9
2In more detail
Revenue in detailPt VIII
Gifts and grantsLn 1h$64K
Investment incomeLn 3$638K
Other incomeLn 4–11$37K
Gains on assetsLn 7$469K
Total revenueLn 12$739K
Assets in detailPt X, end of year
CashLn 1$22K
SavingsLn 2$62K
Cash and savings togetherLn 1–2$84K
InvestmentsLn 11–13$0
Land, buildings, equipmentLn 10c$0
Other assetsLn 15$3.5M
Total assetsLn 16$3.6M
LiabilitiesLn 26$155K
Net assetsLn 32$3.5M
OperationsPt I, VI
EmployeesI 50
Fiscal year endsHeaderDecember
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 FY24End FY24
Cash and savingsLn 1–2$1.5M$84K
InvestmentsLn 11–13$0
Land, buildings, equipmentLn 10c$0
Total assetsLn 16$2.8M$3.6M
LiabilitiesLn 26$193K$155K
Net assetsLn 32$2.6M$3.5M
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Grants to domestic organizationsLn 1$0
Grants to domestic individualsLn 2$0
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$109
Accounting feesLn 11c$0
Lobbying feesLn 11d$0
Professional fundraising feesLn 11e$0
Investment management feesLn 11f$9K$9K$463
Other fees for servicesLn 11g$6K$6K$296
Advertising and promotionLn 12$0
Office expensesLn 13$0
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$41K$41K$170
All other expensesLn 24e$0
Total functional expensesLn 25$58K$57K$1K$0

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2024 $2.3M$42K$2.3M$2.6M 990 PDF
FY2023 $139K$41K$98K$310K 990 PDF
FY2022 $377K$8K$369K$212K 990 PDF
FY2021 $65K−$151K 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
See the full FY2024 990 (4 parts)
Part VIII · Statement of revenue $738,845 across 8 lines filed
VIII-1f All other contributions, gifts and grants$63,811
VIII-1h Total contributions, gifts and grants$63,811
VIII-3 Investment incomeExcluded from tax $168,979$168,979
VIII-5 Royalties$0
VIII-6 Net rental income or loss$0
VIII-7 Net gain or loss on sales of assetsExcluded from tax $468,750$468,750
VIII-8 Net income from fundraising eventsExcluded from tax $37,305$37,305
VIII-12 Total revenueExcluded from tax $675,034$738,845
Part IX · Statement of functional expenses $58,392 across 31 lines filed
IX-1 Grants to domestic organizations$0
IX-2 Grants to domestic individuals$0
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 feesPrograms $2,064 · Management $109$2,173
IX-11c Accounting fees$0
IX-11d Lobbying fees$0
IX-11e Professional fundraising fees$0
IX-11f Investment management feesPrograms $8,797 · Management $463$9,260
IX-11g Other fees for servicesPrograms $5,615 · Management $296$5,911
IX-12 Advertising and promotion$0
IX-13 Office expenses$0
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)Programs $40,878 · Management $170$41,048
IX-24e All other expenses$0
IX-25 Total functional expensesPrograms $57,354 · Management $1,038 · Fundraising $0$58,392
Part X · Balance sheet $3,625,490 assets, 20 lines filed
X-1 Cash, non-interest-bearingStart of year $9,931$22,016
X-2 Savings and temporary cash investmentsStart of year $1,525,412$61,654
X-3 Pledges and grants receivableStart of year $78,080$66,080
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 securities$0
X-12 Other securities$0
X-13 Program-related investments$0
X-14 Intangible assets$0
X-15 Other assetsStart of year $1,214,716$3,475,740
X-16 Total assetsStart of year $2,828,139$3,625,490
X-24 Unsecured notes and loans payableStart of year $153,018$129,768
X-25 Other liabilitiesStart of year $40,000$25,000
X-26 Total liabilitiesStart of year $193,018$154,768
X-27 Net assets without donor restrictionsStart of year $9,931$22,016
X-28 Net assets with donor restrictionsStart of year $2,625,190$3,448,706
X-32 Total net assets or fund balancesStart of year $2,635,121$3,470,722
X-33 Total liabilities and net assetsStart of year $2,828,139$3,625,490
Part XI · Reconciliation of net assets $3,470,722 net assets at year end
XI-1 Total revenue$738,845
XI-2 Total expenses$58,392
XI-3 Revenue less expenses$680,453
XI-4 Net assets at start of year$2,635,121
XI-5 Net unrealized gains (losses) on investments$155,146
XI-9 Other changes in net assets$2
XI-10 Net assets at end of year$3,470,722

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

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