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Nonprofiteer
← DULUTH SUPERIOR AREA COMMUNITY FOUNDATION INC

Form 990 for tax year 2024

Filed by DULUTH SUPERIOR AREA COMMUNITY FOUNDATION INC.

Totals

Total revenue
$6,417,532
Total expenses
$7,065,045
Contributions and grants received
$2,370,441
Grants paid
$5,417,464
Program service revenue
$0
Investment income
$4,058,785
Other revenue
-$11,694
Total assets, end of year
$118,006,182
Total liabilities, end of year
$7,736,696
Net assets or fund balances, end of year
$110,269,486
Program services expenses (Part IX)
$6,281,599
Management and general expenses
$474,913
Fundraising expenses
$308,533
Program service expenses (Part III)
$6,281,599

Program services were 88.9% 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

    $25,000

  • 1f · All other contributions, gifts and grants

    $2,345,441

  • 1g · Noncash contributions included above

    $52,634

  • 3 · Investment income

    total $2,454,817 · excluded $2,454,817

  • 7a · Gross sales of assets other than inventory

    securities $11,769,619

  • 7b · Less cost or other basis and sales expenses

    securities $10,165,651

  • 7c · Gain or loss

    securities $1,603,968

  • 7d · Net gain or loss

    total $1,603,968 · excluded $1,603,968

  • 8a · Fundraising events: gross income

    $4,210

  • 8a · Fundraising events: contributions included on line 1c

    $25,000

  • 8b · Fundraising events: direct expenses

    $18,404

  • 8c · Net income from fundraising events

    total -$14,194 · excluded -$14,194

  • 11d · All other revenue

    total $2,500 · excluded $2,500

  • 11e · Other revenue, total

    $2,500

Functional expenses

Part IX, the statement of functional expenses.

  • 1 · Grants to domestic organizations and governments

    total $4,597,558 · program services $4,597,558

  • 2 · Grants to domestic individuals

    total $819,906 · program services $819,906

  • 5 · Compensation of officers, directors and key employees

    total $306,386 · program services $175,655 · management and general $60,582 · fundraising $70,149

  • 7 · Other salaries and wages

    total $543,133 · program services $311,416 · management and general $107,379 · fundraising $124,338

  • 8 · Pension plan contributions

    total $30,508 · program services $17,484 · management and general $6,035 · fundraising $6,989

  • 9 · Other employee benefits

    total $61,180 · program services $35,062 · management and general $12,103 · fundraising $14,015

  • 10 · Payroll taxes

    total $54,480 · program services $31,256 · management and general $10,762 · fundraising $12,462

  • 11b · Fees: legal

    total $2,064 · program services $1,032 · management and general $1,032

  • 11c · Fees: accounting

    total $30,835 · management and general $30,835

  • 11f · Fees: investment management

    total $181,924 · management and general $181,924

  • 11g · Fees: other

    total $65,348 · program services $49,166 · management and general $5,833 · fundraising $10,349

  • 12 · Advertising and promotion

    total $36,363 · program services $21,211 · management and general $6,901 · fundraising $8,251

  • 13 · Office expenses

    total $10,241 · program services $6,925 · management and general $1,537 · fundraising $1,779

  • 14 · Information technology

    total $7,892 · program services $7,892

  • 16 · Occupancy

    total $40,384 · program services $23,120 · management and general $8,247 · fundraising $9,017

  • 17 · Travel

    total $2,673 · program services $2,673

  • 19 · Conferences, conventions and meetings

    total $32,980 · program services $19,052 · management and general $6,454 · fundraising $7,474

  • 22 · Depreciation, depletion and amortization

    total $39,510 · program services $22,585 · management and general $7,739 · fundraising $9,186

  • 23 · Insurance

    total $7,453 · program services $4,269 · management and general $1,475 · fundraising $1,709

  • 24a · Other expenses: DUES AND SUBSCRIPTIONS

    total $65,467 · program services $37,847 · management and general $12,800 · fundraising $14,820

  • 24b · Other expenses: PRINTING AND MATERIALS

    total $47,249 · program services $42,952 · management and general $774 · fundraising $3,523

  • 24c · Other expenses: EQUIPMENT MAINTENANCE

    total $40,521 · program services $23,368 · management and general $7,949 · fundraising $9,204

  • 24d · Other expenses: PUBLIC EDUCATION MEETIN

    total $18,183 · program services $12,694 · management and general $2,544 · fundraising $2,945

  • 24e · All other expenses

    total $22,807 · program services $18,476 · management and general $2,008 · fundraising $2,323

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $1,541,079 · end of year $838,077

  • 2 · Savings and temporary cash investments

    beginning of year $1,790,939 · end of year $1,846,067

  • 3 · Pledges and grants receivable

    beginning of year $311,270 · end of year $303,368

  • 7 · Other notes and loans receivable

    end of year $58,800

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

    $586,540

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

    $432,323

  • 10c · Land, buildings and equipment, net

    beginning of year $187,853 · end of year $154,217

  • 11 · Investments: publicly traded securities

    beginning of year $101,463,712 · end of year $113,720,401

  • 15 · Other assets

    beginning of year $986,715 · end of year $1,085,252

  • 17 · Accounts payable and accrued expenses

    beginning of year $77,309 · end of year $74,396

  • 18 · Grants payable

    beginning of year $508,606 · end of year $727,823

  • 24 · Unsecured notes and loans payable

    beginning of year $134,975 · end of year $112,754

  • 25 · Other liabilities

    beginning of year $5,833,448 · end of year $6,821,723

  • 27 · Net assets without donor restrictions

    beginning of year $27,026,588 · end of year $28,828,412

  • 28 · Net assets with donor restrictions

    beginning of year $72,700,642 · end of year $81,441,074

Mission and programs · 2024

Mission

WE UNITE PEOPLE AND RESOURCES, DRIVING BOLD ACTION TO CREATE LASTING IMPACT FOR A BRIGHTER TOMORROW.

  • IN 2024, THE COMMUNITY FOUNDATION AWARDED $4,597,558 IN GRANTS AND $819,906 IN SCHOLARSHIPS. TOTAL GRANTS AWARDED (INCLUDING INTERFUND GRANTS) FOR ALL PROGRAM AREAS WAS $5,417,464 COMPRISED OF: 27% UNRESTRICTED FUNDS, 19% DESIGNATED, 18% FIELD OF INTEREST, 5% ORGANIZATIONAL ENDOWMENTS, 15% SCHOLARSHIPS AND 16% DONOR ADVISED. THE LARGEST PROGRAM AREA SUPPORTED WAS HUMAN SERVICES WITH 38% OF GRANT FUNDS, FOLLOWED BY, 20% COMMUNITY ECONOMIC DEVELOPMENT , 15% EDUCATION, 13% IN SCHOLARSHIPS, 10% IN ENVIRONMENT, AND 4% IN ARTS. IN 2024, THE COMMUNITY FOUNDATION AWARDED $392,015 SCHOLARSHIPS FROM ENDOWED FUNDS AND $41,000 FROM 4 TEMPORARY SCHOLARSHIP FUNDS THAT THE FOUNDATION PROVIDES SCHOLARSHIP SERVICES. IN ADDITION, THE FOUNDATION PROVIDED ADMINISTRATIVE SERVICES FOR TWO AFFILIATED SCHOLARSHIPS TOTALING $244,833 WHERE ALL OF THE FUNDS ARE HELD BY A LOCAL BANK.

    Expenses $6,017,450 · Grants $5,417,464

  • IN 2024, AS PART OF ONGOING STRATEGIC PLANNING EFFORTS, BOREAL WATERS MADE SIGNIFICANT IMPROVEMENTS TO GRANTMAKING DESIGNED TO BETTER ALIGN RESOURCES WITH THE NEEDS OF THE COMMUNITIES SERVED. THIS INVOLVED RESTRUCTURING COMMITTEES TO INCLUDE COMMUNITY MEMBERS WITH LIVED EXPERIENCE AND EXPERTISE IN THE AREAS WHERE FUNDS ARE DIRECTED (E.G., CHILDHOOD POVERTY, MISSING A SENSE OF BELONGING, ETC.). THE FOCUS AREAS OF OPPORTUNITY, RESILIENCE, BELONGING AND TRANSFORMATION WERE BETTER DEFINED THROUGH COMMUNITY FEEDBACK AND RESEARCH TO ENSURE EFFORTS ARE IMPACTFUL AND SUSTAINABLE. THE SECOND REQUEST FOR PROPOSALS WAS ALSO MADE MORE ACCESSIBLE BY CREATING A LETTER OF INTENT PROCESS, WHICH ALLOWED FOR US TO GET BACK TO ORGANIZATIONS FASTER. THESE CHANGES ARE PART OF THE BROADER STRATEGY TO ENHANCE THE EFFECTIVENESS AND REACH OF BOREAL WATER'S GRANTMAKING, ENSURING THAT NOT ONLY NEEDS ARE MET, BUT EFFORTS FOCUS ON MEANINGFUL, LASTING IMPROVEMENTS.BOREAL WATERS CONTINUED TO BE RESPONSIVE TO COMMUNITY NEEDS AND OPPORTUNITIES. LEADERSHIP INITIATIVES WERE DEVELOPED WITH COLLABORATING ORGANIZATIONS, SUCH AS NONPROFITS AT NOON, BE ON BOARD, AND OTHER PROGRAMS TO HELP NONPROFITS BUILD SKILLS AND PROVIDE PROFESSIONAL DEVELOPMENT. ADDITIONAL COMMUNITY LEADERSHIP SOUGHT TO FILL A GAP FOR LOCAL NONPROFITS IN RECRUITING VOLUNTEERS TO SERVE AS TRUSTEES. COMMUNITY IMPACT PROGRAMMING IS IN ADDITION TO BOREAL WATERS ON-GOING GRANT AND SCHOLARSHIP ACTIVITY.

    Expenses $264,149

As filed on the 2024 return. The filer continues this part on Schedule O, which is not shown here.

Listed in Part VII

  • Shaun Floerke

    PRESIDENT/CEO

    Total calculated
    $210,833
    From this org
    $160,958
    From related orgs
    $0
    Other
    $49,875
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $154,505
    Bonus
    $4,922
    Other
    $1,531
    Deferred
    $8,081
    Nontaxable benefits
    $41,794
    Filer's total
    $210,833

  • Paige Freese

    FINANCE DIRECTOR

    Total calculated
    $95,553
    From this org
    $80,404
    From related orgs
    $0
    Other
    $15,149
    Hours/week
    40

  • Kerstyn Hendricks

    CHAIR

    Total calculated
    $0
    Hours/week
    1

  • Joscelyn Skandel

    CHAIR (THRU MARCH)

    Total calculated
    $0
    Hours/week
    1

  • Katelyn Baumann

    VICE CHAIR

    Total calculated
    $0
    Hours/week
    1

  • Matt Vaillant

    TREASURER

    Total calculated
    $0
    Hours/week
    1

  • David Montgomery

    TREASURER (THRU NOVEMBER)

    Total calculated
    $0
    Hours/week
    1

  • Patrick Heffernan

    SECRETARY

    Total calculated
    $0
    Hours/week
    1

  • Moira Villiard

    SECRETARY (THRU JUNE)

    Total calculated
    $0
    Hours/week
    1

  • Aileen Beard

    TRUSTEE

    Total calculated
    $0
    Hours/week
    1

  • Brenda Brannan

    TRUSTEE (THRU MARCH)

    Total calculated
    $0
    Hours/week
    1

  • Lee Jensen Bujold

    TRUSTEE

    Total calculated
    $0
    Hours/week
    1

  • Jeff Corey

    TRUSTEE

    Total calculated
    $0
    Hours/week
    1

  • Fred Friedman

    TRUSTEE

    Total calculated
    $0
    Hours/week
    1

  • Angela Gilbertson

    TRUSTEE

    Total calculated
    $0
    Hours/week
    1

  • Sakib Mahmud

    TRUSTEE

    Total calculated
    $0
    Hours/week
    1

  • Peter Pfankuch

    TRUSTEE

    Total calculated
    $0
    Hours/week
    1

  • Heidi Sigfrids

    TRUSTEE

    Total calculated
    $0
    Hours/week
    1

  • Sandra Wright

    TRUSTEE

    Total calculated
    $0
    Hours/week
    1

  • Julian Zebot

    TRUSTEE

    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. A Schedule J breakdown is as filed: base pay, bonus, other, deferred compensation and nontaxable benefits from this organization, with any from related organizations beside each, and the filer's own total. It is shown with the Part VII listing of the same name on the same return. The form gives no key between the two, so that pairing is ours, and is marked matched by us.

Schedule J

Answered yes

  • 3 · Compensation survey or study
  • 3 · Approval by the board or compensation committee

Answered no

  • 4a · Severance or change-of-control payment
  • 4b · Supplemental nonqualified retirement plan
  • 4c · Equity-based compensation arrangement
  • 5a · Pay contingent on this organization's revenues
  • 5b · Pay contingent on a related organization's revenues
  • 6a · Pay contingent on this organization's net earnings
  • 6b · Pay contingent on a related organization's net earnings
  • 7 · Other non-fixed payments
  • 8 · Paid under the initial-contract exception

Part I's answers as filed. A line not listed was left unanswered; on lines 1a and 3 that means the box was not checked.

Grants on this return

The 10 largest by cash amount. The API serves every itemized grant.

Provenance

Return type
form_990
Tax year
2024
Filed
3 November 2025
IRS schema version
2024v5.2
Source object
202523079349302892

Check it against the return as filed: the GivingTuesday Data Lake hosts a public copy of the original XML.

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