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Nonprofiteer
← ELY AREA COMMUNITY FOUNDATION INC

Form 990 for tax year 2023

Filed by ELY AREA COMMUNITY FOUNDATION INC.

Totals

Total revenue
$1,552,126
Total expenses
$99,210
Contributions and grants received
$1,527,351
Grants paid
$0
Program service revenue
$0
Investment income
$24,775
Other revenue
$0
Total assets, end of year
$2,901,901
Total liabilities, end of year
$0
Net assets or fund balances, end of year
$2,901,901
Program services expenses (Part IX)
$48,433
Management and general expenses
$50,777
Fundraising expenses
$0
Program service expenses (Part III)
$48,433

Program services were 48.8% 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

    $1,527,351

  • 1g · Noncash contributions included above

    $22,466

  • 3 · Investment income

    total $24,775 · excluded $24,775

Functional expenses

Part IX, the statement of functional expenses.

  • 11b · Fees: legal

    total $26,496 · management and general $26,496

  • 11c · Fees: accounting

    total $4,249 · management and general $4,249

  • 12 · Advertising and promotion

    total $20,000 · management and general $20,000

  • 13 · Office expenses

    total $275 · program services $275

  • 16 · Occupancy

    total $20,560 · program services $20,560

  • 22 · Depreciation, depletion and amortization

    total $252 · program services $252

  • 23 · Insurance

    total $10,574 · program services $10,574

  • 24a · Other expenses: REPAIRS AND MAINTENANCE

    total $13,714 · program services $13,714

  • 24b · Other expenses: OPERATIONAL EXPENSES

    total $2,458 · program services $2,458

  • 24c · Other expenses: PROPERTY TAXES

    total $600 · program services $600

  • 24d · Other expenses: BANK CHARGES

    total $32 · management and general $32

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $333,495 · end of year $1,646,209

  • 2 · Savings and temporary cash investments

    beginning of year $45,307 · end of year $56,103

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

    $1,167,307

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

    $252

  • 10c · Land, buildings and equipment, net

    beginning of year $1,041,624 · end of year $1,167,055

  • 15 · Other assets

    end of year $32,534

  • 27 · Net assets without donor restrictions

    beginning of year $1,420,426 · end of year $2,865,071

  • 28 · Net assets with donor restrictions

    end of year $36,830

Mission and programs · 2023

Mission

A COMMUNITY CENTER FACILITY THAT OFFERS KEY SERVICES DISIGNED TO ENHANCE THE WELL-BEING OF ALL PEOPLE OF ALL AGES IN OUR COMMUNITIES. WE ENVISION SERVICES TO INCLUDE DAY CARE, SENIOR PROGRAMS, FITNESS, AND OTHER SERVICES THAT ENRICH MENTAL AND PHYSICAL HEALTH. OUR FACILITY BRINGS MULTI- GENERATIONAL FAMILIES, FRIENDS, AND NEIGHBORS TOGETHER IN A PLACE THAT IS ACCESSIBLE AND INCLUSIVE. A GRANT PROGRAM DESIGNED TO SUPPORT IMPORTANT INITIATIVES THAT OTHER NON- PROFIT ORGANIZATIONS, OTHER GROUPS, AND INDIVIDUALS ARE PURSUING FOR THE BOOD OF OUR COMMUNITIES. GRANTS ARE GIVEN IN THE AREAS OF ARTS AND HUMANITIES, CIVIC AFFAIRS, EDUCATION, ENVIRONMENT AND NATURE, AND HUMAN SERVICES.

  • ENHANCE COMMUNITY DEVELOPMENT AND QUALITY OF LIFE IN ELY, MN AND THE SURROUNDING COMMUNITIES THROUGH THE DISTRIBUTION OF ENDOWMENT FUND GRANTS.

    Expenses $48,433

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

Listed in Part VII

  • Patti Banks

    BOARD

    Total calculated
    $0
    Hours/week
    1

  • Joseph Bianco

    BOARD

    Total calculated
    $0
    Hours/week
    1

  • Anita Lancello Bydlon

    BOARD

    Total calculated
    $0
    Hours/week
    1

  • Heather Fitzgerald

    BOARD

    Total calculated
    $0
    Hours/week
    1

  • Todd Heiman

    TREASURER

    Total calculated
    $0
    Hours/week
    1

  • Julie Hignell

    BOARD

    Total calculated
    $0
    Hours/week
    1

  • Paul Knuti

    BOARD

    Total calculated
    $0
    Hours/week
    1

  • David Marshall

    VICE CHAIR

    Total calculated
    $0
    Hours/week
    1

  • Heidi Omerza

    BOARD

    Total calculated
    $0
    Hours/week
    1

  • Amanda Peterson

    BOARD

    Total calculated
    $0
    Hours/week
    1

  • Kurt Sodeberg

    SECRETARY

    Total calculated
    $0
    Hours/week
    1

  • Jeff Sundell

    CHAIRPERSON

    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.

Provenance

Return type
form_990
Tax year
2023
Filed
5 April 2024
IRS schema version
2023v5.0
Source object
202421279349300307

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