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Nonprofiteer
← LAKE LURE COMMUNITY EDUCATION FOUNDATION

Form 990 for tax year 2023

Filed by LAKE LURE COMMUNITY EDUCATION FOUNDATION.

Totals

Total revenue
$674,527
Total expenses
$692,197
Contributions and grants received
$38,000
Grants paid
$0
Program service revenue
$639,305
Investment income
$6,995
Other revenue
-$9,773
Total assets, end of year
$11,917,365
Total liabilities, end of year
$11,075,453
Net assets or fund balances, end of year
$841,912
Program services expenses (Part IX)
$692,177
Management and general expenses
$20
Fundraising expenses
$0
Program service expenses (Part III)
$692,177

Program services were 100.0% 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.

  • 1f · All other contributions, gifts and grants

    $38,000

  • 2a · Program service revenue: Rental

    total $639,305 · unrelated business $0 · excluded $0

  • 3 · Investment income

    total $6,995 · unrelated business $0 · excluded $0

  • 8a · Fundraising events: gross income

    $15,373

  • 8b · Fundraising events: direct expenses

    $25,146

  • 8c · Net income from fundraising events

    total -$9,773 · unrelated business $0 · excluded -$9,773

Functional expenses

Part IX, the statement of functional expenses.

  • 13 · Office expenses

    total $20 · program services $0 · management and general $20 · fundraising $0

  • 20 · Interest

    total $357,491 · program services $357,491 · management and general $0 · fundraising $0

  • 22 · Depreciation, depletion and amortization

    total $273,782 · program services $273,782 · management and general $0 · fundraising $0

  • 23 · Insurance

    total $904 · program services $904 · management and general $0 · fundraising $0

  • 24a · Other expenses: Donations

    total $10,000 · program services $10,000 · management and general $0 · fundraising $0

  • 24b · Other expenses: Repairs and Maintenance

    total $50,000 · program services $50,000 · management and general $0 · fundraising $0

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $53,042 · end of year $73,365

  • 2 · Savings and temporary cash investments

    beginning of year $1,051,854 · end of year $1,053,669

  • 4 · Accounts receivable

    beginning of year $3,000

  • 10a · Land, buildings and equipment: cost or other basis

    $12,427,972

  • 10b · Land, buildings and equipment: accumulated depreciation

    $1,637,641

  • 10c · Land, buildings and equipment, net

    beginning of year $11,002,403 · end of year $10,790,331

  • 17 · Accounts payable and accrued expenses

    beginning of year $168,870 · end of year $166,210

  • 23 · Secured mortgages and notes payable

    beginning of year $11,081,846 · end of year $10,909,243

  • 27 · Net assets without donor restrictions

    beginning of year $859,583 · end of year $841,912

Mission and programs · 2023

Mission

To hold and lease real estate to the supported organization, Classical Academis CFA, Inc.

  • The organization holds and leases real estate to its supported organization. They will also raise funds for the supported organization.

    Expenses $692,177 · Revenue $674,527

As filed on the 2023 return. The filer continues this part on Schedule O, which is not shown here.

Listed in Part VII

  • Stephen Milito

    President

    Total calculated
    $0
    Hours/week
    1

  • Charlie Ellis

    Secretary/Treasurer

    Total calculated
    $0
    Hours/week
    1

  • Kate Sloss

    Vice President

    Total calculated
    $0
    Hours/week
    1

  • Russ Pitts

    Member

    Total calculated
    $0
    Hours/week
    1

  • Ned Kiser

    Member

    Total calculated
    $0
    Hours/week
    1

  • Mitchel McNeely

    Member

    Total calculated
    $0
    Hours/week
    1

  • Barbara Cohen

    Member

    Total calculated
    $0
    Hours/week
    1

  • Randy Nelson

    Member

    Total calculated
    $0
    Hours/week
    1

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.

Related organizations on this return

Schedule R Part II: tax-exempt organizations related to the filer by control. It does not record shared board members or money.

Provenance

Return type
form_990
Tax year
2023
Filed
28 January 2025
IRS schema version
2023v6.0
Source object
202510359349300426

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