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Nonprofiteer
← CENTRAL LAKES COLLEGE FOUNDATION

Form 990 for tax year 2024

Filed by CENTRAL LAKES COLLEGE FOUNDATION.

Totals

Total revenue
$3,669,250
Total expenses
$3,011,679
Contributions and grants received
$2,576,339
Grants paid
$2,379,874
Program service revenue
$637,668
Investment income
$427,650
Other revenue
$27,593
Total assets, end of year
$15,698,314
Total liabilities, end of year
$1,192,152
Net assets or fund balances, end of year
$14,506,162
Program services expenses (Part IX)
$2,876,242
Management and general expenses
$128,263
Fundraising expenses
$7,174
Program service expenses (Part III)
$2,876,242

Program services were 95.5% 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

    $2,738

  • 1f · All other contributions, gifts and grants

    $2,573,601

  • 1g · Noncash contributions included above

    $877,877

  • 2a · Program service revenue: NET RENTAL REVENUE

    total $586,060 · related or exempt $586,060

  • 2b · Program service revenue: RESERVATION FEES

    total $28,450 · related or exempt $28,450

  • 2c · Program service revenue: TENANT CHARGES

    total $16,954 · related or exempt $16,954

  • 2d · Program service revenue: LAUNDRY & VENDING

    total $6,204 · related or exempt $6,204

  • 3 · Investment income

    total $291,212 · excluded $291,212

  • 7a · Gross sales of assets other than inventory

    securities $417,607

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

    securities $281,169

  • 7c · Gain or loss

    securities $136,438

  • 7d · Net gain or loss

    total $136,438 · excluded $136,438

  • 8a · Fundraising events: gross income

    $10,680

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

    $2,738

  • 8b · Fundraising events: direct expenses

    $14,850

  • 8c · Net income from fundraising events

    total -$4,170 · excluded -$4,170

  • 9a · Gaming: gross income

    $41,854

  • 9b · Gaming: direct expenses

    $44,820

  • 9c · Net income from gaming

    total -$2,966 · excluded -$2,966

  • 11a · Other revenue: INSURANCE CLAIM

    total $34,729 · excluded $34,729

  • 11e · Other revenue, total

    $34,729

Functional expenses

Part IX, the statement of functional expenses.

  • 1 · Grants to domestic organizations and governments

    total $2,379,874 · program services $2,379,874

  • 7 · Other salaries and wages

    total $66,627 · program services $66,627

  • 9 · Other employee benefits

    total $1,349 · program services $1,349

  • 10 · Payroll taxes

    total $5,771 · program services $5,771

  • 11a · Fees: management

    total $62,576 · program services $62,576

  • 11c · Fees: accounting

    total $50,036 · program services $19,984 · management and general $30,052

  • 11f · Fees: investment management

    total $66,839 · management and general $66,839

  • 12 · Advertising and promotion

    total $10,876 · program services $3,254 · management and general $448 · fundraising $7,174

  • 13 · Office expenses

    total $4,410 · program services $2,980 · management and general $1,430

  • 14 · Information technology

    total $38,015 · program services $23,635 · management and general $14,380

  • 16 · Occupancy

    total $106,324 · program services $106,324

  • 17 · Travel

    total $913 · management and general $913

  • 20 · Interest

    total $37,261 · program services $37,261

  • 22 · Depreciation, depletion and amortization

    total $78,782 · program services $78,782

  • 23 · Insurance

    total $23,340 · program services $22,907 · management and general $433

  • 24a · Other expenses: BAD DEBT EXPENSE

    total $28,471 · program services $28,471

  • 24b · Other expenses: MISC EXPENSE

    total $25,743 · program services $12,000 · management and general $13,743

  • 24c · Other expenses: REPAIRS AND MAINTENANCE

    total $23,152 · program services $23,152

  • 24d · Other expenses: LICENSES AND DUES

    total $1,320 · program services $1,295 · management and general $25

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $17,468 · end of year $30,710

  • 2 · Savings and temporary cash investments

    beginning of year $621,813 · end of year $652,006

  • 3 · Pledges and grants receivable

    end of year $23,529

  • 4 · Accounts receivable

    beginning of year $38,542 · end of year $41,116

  • 9 · Prepaid expenses and deferred charges

    beginning of year $20,585 · end of year $22,697

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

    $2,944,950

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

    $575,833

  • 10c · Land, buildings and equipment, net

    beginning of year $2,420,346 · end of year $2,369,117

  • 11 · Investments: publicly traded securities

    beginning of year $11,245,585 · end of year $12,522,797

  • 15 · Other assets

    beginning of year $39,192 · end of year $36,342

  • 17 · Accounts payable and accrued expenses

    beginning of year $34,305 · end of year $21,654

  • 19 · Deferred revenue

    beginning of year $255,050 · end of year $42,728

  • 23 · Secured mortgages and notes payable

    beginning of year $1,169,612 · end of year $1,091,429

  • 24 · Unsecured notes and loans payable

    end of year $0

  • 25 · Other liabilities

    beginning of year $38,416 · end of year $36,341

  • 27 · Net assets without donor restrictions

    beginning of year $1,484,149 · end of year $1,697,343

  • 28 · Net assets with donor restrictions

    beginning of year $11,421,999 · end of year $12,808,819

Mission and programs · 2024

Mission

TO PROMOTE CLC STUDENT SUCCESS BY ADDRESSING FINANCIAL BARRIERS TO PURSUING HIGHER EDUCATION - THROUGH SCHOLARSHIPS, STRONG ALUMNI AND DONOR RELATIONSHIPS, AFFORDABLE STUDENT HOUSING, AND OTHER APPROPRIATE ASSISTANCE.

Activities or mission (Part I)

THE ORGANIZATION PROVIDES SCHOLARSHIPS AND HOUSING TO STUDENTS ATTENDING CENTRAL LAKES COLLEGE.

  • DONATIONS INCLUDING IN-KIND FOR PROJECTS AND PROGRAMS PAID FOR ON BEHALF OF CENTRAL LAKES COLLEGE TO ENHANCE STUDENT AND COMMUNITY LEARNING EXPERIENCES.

    Expenses $1,994,118 · Grants $1,994,118

  • STUDENT HOUSING PROVIDED TO STUDENTS ENROLLED AT CENTRAL LAKES COLLEGE.

    Expenses $472,506 · Revenue $637,668

  • Withheld by Nonprofiteer: this text may name a private individual.

    Expenses $409,618 · Grants $385,756

As filed on the 2024 return. A text marked withheld matched a screen for wording that may name a private individual, such as an honorific or "in memory of". Most of what it withholds names no one; it is withheld so that what does is never shown.

Listed in Part VII

  • Brad Chapulis

    PRESIDENT

    Total calculated
    $0
    Hours/week
    2

  • Mike Bjerkness

    VICE PRESIDENT

    Total calculated
    $0
    Hours/week
    2

  • Lisa Wigand

    TREASURER (THROUGH 12/31/2024)

    Total calculated
    $0
    Hours/week
    2

  • Jodi Hyatt

    TREASURER (STARTING 01/01/2025)

    Total calculated
    $0
    Hours/week
    2

  • Barbara Anderson

    SECRETARY (THROUGH 12/31/2024)

    Total calculated
    $0
    Hours/week
    2

  • Nathan Hamilton

    SECRETARY (STARTING 01/01/2025)

    Total calculated
    $0
    Hours/week
    1

  • Hara Charlier

    EX-OFFICIO

    Total calculated
    $0
    Hours/week
    1

  • Jennifer Bergman

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Beth Gruber

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Katie Heppner

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Robb Kolodziej

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • John Ohlin

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Matt Sundquist

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Steve Wenzel

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Jennifer Bergman

    DIRECTOR (THROUGH 12/31/2024)

    Total calculated
    $0
    Hours/week
    1

  • Byron Ninham

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Michele Berger

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Jon Aga

    EXECUTIVE DIRECTOR

    Total calculated
    $0
    Hours/week
    40

  • Kate Adornetto

    EXECUTIVE DIRECTOR (THROUGH 8/31/2024)

    Total calculated
    $0
    Hours/week
    40

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

  • CENTRAL LAKES COLLEGE

    $1,501,997

    ASSISTANCE TO CENTRAL LAKES COLLEGE AND STUDENT SCHOLARSHIPS

Taxable family on this return

Schedule R Parts I, III and IV, as filed. These record ownership and control, not shared board members or money moved.

Disregarded entities

Part I: entities that legally are the filer and file no return of their own.

  • CENTRAL LAKES COLLEGE FOUNDATION HOUSING LLC

    HOUSING · MN · income $178,140 · assets $2,878,302

    Directly controlled by CENTRAL LAKES COLLEGE FOUNDATION

Provenance

Return type
form_990
Tax year
2024
Filed
17 March 2026
IRS schema version
2024v5.5
Source object
202600839349300645

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