Form 990 for tax year 2022
Filed by LAKES REGION SCHOLARSHIP FOUNDATION.
Totals
- Total revenue
- $1,894,924
- Total expenses
- $886,953
- Contributions and grants received
- $1,730,507
- Grants paid
- $722,794
- Program service revenue
- $0
- Investment income
- $157,801
- Other revenue
- $6,616
- Total assets, end of year
- $12,360,396
- Total liabilities, end of year
- $0
- Net assets or fund balances, end of year
- $12,360,396
- Program services expenses (Part IX)
- $722,794
- Management and general expenses
- $164,159
- Fundraising expenses
- $0
- Program service expenses (Part III)
- $722,794
Program services were 81.5% of total expenses calculated — Part IX's program-services column over total expenses, both as filed.
Line items
Every line the filer filed in Parts VIII, IX and X, as filed and in filed order. Blank columns are left out, and the lines are not forced to add up to the totals above.
Revenue
Part VIII, the statement of revenue.
-
1c · Fundraising events
$14,574
-
1f · All other contributions, gifts and grants
$1,715,933
-
1g · Noncash contributions included above
$60,754
-
3 · Investment income
total $95,865 · excluded $95,865
-
7a · Gross sales of assets other than inventory
securities $763,089
-
7b · Less cost or other basis and sales expenses
securities $701,153
-
7c · Gain or loss
securities $61,936
-
7d · Net gain or loss
total $61,936 · excluded $61,936
-
8a · Fundraising events: gross income
$6,756
-
8a · Fundraising events: contributions included on line 1c
$14,574
-
8b · Fundraising events: direct expenses
$140
-
8c · Net income from fundraising events
total $6,616
Functional expenses
Part IX, the statement of functional expenses.
-
2 · Grants to domestic individuals
total $722,794 · program services $722,794
-
5 · Compensation of officers, directors and key employees
total $75,806 · management and general $75,806
-
7 · Other salaries and wages
total $27,868 · management and general $27,868
-
10 · Payroll taxes
total $8,123 · management and general $8,123
-
11f · Fees: investment management
total $36,919 · management and general $36,919
-
12 · Advertising and promotion
total $448 · management and general $448
-
13 · Office expenses
total $4,389 · management and general $4,389
-
14 · Information technology
total $6,823 · management and general $6,823
-
19 · Conferences, conventions and meetings
total $32 · management and general $32
-
22 · Depreciation, depletion and amortization
total $821 · management and general $821
-
23 · Insurance
total $2,369 · management and general $2,369
-
24a · Other expenses: MISCELLANEOUS
total $311 · management and general $311
-
24b · Other expenses: MEMBERSHIP DUES
total $125 · management and general $125
-
24c · Other expenses: PAYPAL FEES
total $125 · management and general $125
Balance sheet
Part X, book values.
-
1 · Cash, non-interest-bearing
beginning of year $354,595 · end of year $460,720
-
2 · Savings and temporary cash investments
beginning of year $6,464 · end of year $32,281
-
10a · Land, buildings and equipment: cost or other basis
$26,635
-
10b · Land, buildings and equipment: accumulated depreciation
$26,206
-
10c · Land, buildings and equipment, net
beginning of year $1,250 · end of year $429
-
11 · Investments: publicly traded securities
beginning of year $5,527,393 · end of year $5,606,206
-
15 · Other assets
beginning of year $7,312,675 · end of year $6,260,760
-
31 · Retained earnings, endowment or other funds
beginning of year $13,202,377 · end of year $12,360,396
Mission and programs · 2022
Mission
THE PROMOTION AND ENCOURAGEMENT OF SCHOLARSHIPS AND OPPORTUNITIES FOR HIGHER EDUCATION AMONG RESIDENTS OF THE LAKES REGION. SEE ATTACHMENT FOR ADDITIONAL INFORMATION.
Activities or mission (Part I)
THE FOUNDATION AWARDS SCHOLARSHIPS TO QUALIFING LAKES REGION STUDENTS.
-
SCHOLARSHIPS OF 699,375 WERE AWARDED AND 722,794 WAS DISBURSED IN 2022.
Expenses $722,794 · Grants $722,794
As filed on the 2022 return.
Listed in Part VII
-
Joan FratesJOAN FRATES
PRESIDENT
- Total calculated
- $0
- Hours/week
- 0.5
-
Gayle PriceGAYLE PRICE
VICE PRESIDE
- Total calculated
- $0
- Hours/week
- 0.5
-
James WaldronJAMES WALDRON
TREASURER
- Total calculated
- $0
- Hours/week
- 1
-
James CarrollJAMES CARROLL
SECRETARY
- Total calculated
- $0
- Hours/week
- 0.5
-
Judy BallJUDY BALL
TRUSTEE
- Total calculated
- $0
- Hours/week
- 0.5
-
Rebecca BeaneREBECCA BEANE
TRUSTEE
- Total calculated
- $0
- Hours/week
- 0.5
-
Philip BonafidePHILIP BONAFIDE
TRUSTEE
- Total calculated
- $0
- Hours/week
- 0.5
-
Colleen CassCOLLEEN CASS
TRUSTEE
- Total calculated
- $0
- Hours/week
- 0.5
-
Jim ChaseJIM CHASE
TRUSTEE
- Total calculated
- $0
- Hours/week
- 0.5
-
Jean ClarkeJEAN CLARKE
TRUSTEE
- Total calculated
- $0
- Hours/week
- 0.5
-
James DirubboJAMES DIRUBBO
TRUSTEE
- Total calculated
- $0
- Hours/week
- 0.5
-
Lori FasshauerLORI FASSHAUER
TRUSTEE
- Total calculated
- $0
- Hours/week
- 0.5
-
Kathy GilmanKATHY GILMAN
TRUSTEE
- Total calculated
- $0
- Hours/week
- 0.5
-
Lois KessinLOIS KESSIN
TRUSTEE
- Total calculated
- $0
- Hours/week
- 0.5
-
Laura LarsonLAURA LARSON
TRUSTEE
- Total calculated
- $0
- Hours/week
- 0.5
-
Richard MarianoRICHARD MARIANO
TRUSTEE
- Total calculated
- $0
- Hours/week
- 0.5
-
Don McLellandDON MCLELLAND
TRUSTEE
- Total calculated
- $0
- Hours/week
- 0.5
-
Fredda OsmanFREDDA OSMAN
TRUSTEE
- Total calculated
- $0
- Hours/week
- 0.5
-
Semi Shin-KenisonSEMI SHIN-KENISON
TRUSTEE
- Total calculated
- $0
- Hours/week
- 0.5
-
Marjory WilkinsonMARJORY WILKINSON
TRUSTEE
- Total calculated
- $0
- Hours/week
- 0.5
-
Karen SwitzerKAREN SWITZER
EXECUTIVE DI
- Total calculated
- $47,854
- From this org
- $47,854
- From related orgs
- $0
- Other
- $0
- Hours/week
- 20
-
Christopher A GuilmettCHRISTOPHER A GUILMETT
ASSISTANT DI
- Total calculated
- $27,952
- From this org
- $27,952
- From related orgs
- $0
- Other
- $0
- Hours/week
- 20
-
Paulette LoughlinPAULETTE LOUGHLIN
ADVISORY DIR
- Total calculated
- $0
- Hours/week
- 5
Compensation is as filed in Part VII: reportable pay from this organization and from related organizations, other compensation, and hours per week. The total, marked calculated, is our sum of the three dollar columns, with a blank column counted as $0; the form itself has no total. On a Form 990-EZ the columns are Part IV's instead, and on a Form 990-PF Part VIII's — compensation, contributions to benefit plans, and expense account — and the total sums those.
Grants on this return
No itemized grants to organizations on this return.
Provenance
- Return type
- form_990
- Tax year
- 2022
- Filed
- 31 July 2023
- IRS schema version
- 2022v5.0
- Source object
- 202332129349301148
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