Form 990 for tax year 2024
Filed by FARIBAULT AREA TRAINING AND EDUCATION FOUNDATION.
Totals
- Total revenue
- $246,734
- Total expenses
- $233,092
- Contributions and grants received
- $61,308
- Grants paid
- $117,302
- Program service revenue
- $0
- Investment income
- $185,426
- Other revenue
- $0
- Total assets, end of year
- $3,560,870
- Total liabilities, end of year
- $100,220
- Net assets or fund balances, end of year
- $3,460,650
- Program services expenses (Part IX)
- $118,097
- Management and general expenses
- $114,995
- Fundraising expenses
- $0
- Program service expenses (Part III)
- $118,097
Program services were 50.7% 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
$61,308
-
3 · Investment income
total $97,484 · related or exempt $97,484
-
7a · Gross sales of assets other than inventory
securities $279,519 · other assets $12,151
-
7b · Less cost or other basis and sales expenses
securities $203,728
-
7c · Gain or loss
securities $75,791 · other assets $12,151
-
7d · Net gain or loss
total $87,942 · related or exempt $87,942
Functional expenses
Part IX, the statement of functional expenses.
-
1 · Grants to domestic organizations and governments
total $24,502 · program services $24,502
-
2 · Grants to domestic individuals
total $92,800 · program services $92,800
-
7 · Other salaries and wages
total $72,608 · management and general $72,608
-
9 · Other employee benefits
total $374 · management and general $374
-
10 · Payroll taxes
total $7,909 · management and general $7,909
-
11c · Fees: accounting
total $910 · management and general $910
-
11f · Fees: investment management
total $25,887 · management and general $25,887
-
12 · Advertising and promotion
total $795 · program services $795
-
13 · Office expenses
total $5,008 · management and general $5,008
-
23 · Insurance
total $1,825 · management and general $1,825
-
24a · Other expenses: MISCELLANEOUS
total $474 · management and general $474
Balance sheet
Part X, book values.
-
1 · Cash, non-interest-bearing
beginning of year $85,107 · end of year $54,181
-
2 · Savings and temporary cash investments
beginning of year $270,083 · end of year $171,140
-
13 · Investments: program-related
beginning of year $3,002,600 · end of year $3,327,315
-
15 · Other assets
beginning of year $1,106 · end of year $8,234
-
18 · Grants payable
beginning of year $68,500 · end of year $94,500
-
25 · Other liabilities
beginning of year $15,288 · end of year $5,720
-
27 · Net assets without donor restrictions
beginning of year $534,626 · end of year $2,055,301
-
28 · Net assets with donor restrictions
beginning of year $2,740,482 · end of year $1,405,349
Mission and programs · 2024
Mission
SUPPORTING POST-SECONDARY EDUCATION
-
PROVIDED SCHOLARSHIP FUNDS TO SOUTH CENTRAL COLLEGE FARIBAULT CAMPUS STUDENTS
Expenses $118,097 · Grants $117,302
As filed on the 2024 return.
Listed in Part VII
-
Rick MillerRICK MILLER
PRESIDENT
- Total calculated
- $0
- Hours/week
- 1
-
Ken WeaverlingKEN WEAVERLING
VP/SEC/TREAS
- Total calculated
- $0
- Hours/week
- 1
-
Ellie HolmquistELLIE HOLMQUIST
EXECUTIVE DI
- Total calculated
- $0
-
Gail KaderlikGAIL KADERLIK
EXECUTIVE DI
- Total calculated
- $72,608
- From this org
- $72,608
- From related orgs
- $0
- Other
- $0
- Hours/week
- 30
-
Jason RobinsonJASON ROBINSON
AT LARGE OFF
- Total calculated
- $0
- Hours/week
- 1
-
Dr Cheryl FreundDR CHERYL FREUND
AT LARGE OFF
- Total calculated
- $0
- Hours/week
- 1
-
Dr Dick HustonDR DICK HUSTON
AT LARGE OFF
- Total calculated
- $0
- Hours/week
- 1
-
Richard CookRICHARD COOK
DIRECTOR
- Total calculated
- $0
- Hours/week
- 1
-
Tim FinleyTIM FINLEY
DIRECTOR
- Total calculated
- $0
- Hours/week
- 1
-
Mike GramseMIKE GRAMSE
DIRECTOR
- Total calculated
- $0
- Hours/week
- 1
-
Barton JacksonBARTON JACKSON
DIRECTOR
- Total calculated
- $0
- Hours/week
- 1
-
Ibrahim KhalifIBRAHIM KHALIF
DIRECTOR
- Total calculated
- $0
- Hours/week
- 1
-
Gary VoegeleGARY VOEGELE
DIRECTOR
- Total calculated
- $0
- Hours/week
- 1
-
Dr Richard BergeDR RICHARD BERGE
HONORARY
- 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
-
OTHER SCC PROGRAMS
$19,502
EQUIPMENT & SOFTWARE
Provenance
- Return type
- form_990
- Tax year
- 2024
- Filed
- 25 August 2025
- IRS schema version
- 2024v5.0
- Source object
- 202642459349300244
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