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Nonprofiteer
← GREATER LAKE CITY COMMUNITY FOUNDATION

Form 990 for tax year 2025

Filed by GREATER LAKE CITY COMMUNITY FOUNDATION.

Totals

Total revenue
$249,796
Total expenses
$101,174
Contributions and grants received
$193,248
Grants paid
$76,265
Program service revenue
$0
Investment income
$56,548
Other revenue
$0
Total assets, end of year
$1,077,714
Total liabilities, end of year
$0
Net assets or fund balances, end of year
$1,077,714
Program services expenses (Part IX)
$76,265
Management and general expenses
$24,909
Fundraising expenses
$0
Program service expenses (Part III)
$76,265

Program services were 75.4% 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

    $193,248

  • 3 · Investment income

    total $56,548

Functional expenses

Part IX, the statement of functional expenses.

  • 1 · Grants to domestic organizations and governments

    total $76,265 · program services $76,265

  • 2 · Grants to domestic individuals

    total $0

  • 3 · Grants to foreign organizations and individuals

    total $0

  • 4 · Benefits paid to or for members

    total $0

  • 5 · Compensation of officers, directors and key employees

    total $0

  • 6 · Compensation of disqualified persons

    total $0

  • 7 · Other salaries and wages

    total $0

  • 8 · Pension plan contributions

    total $0

  • 9 · Other employee benefits

    total $0

  • 10 · Payroll taxes

    total $0

  • 11a · Fees: management

    total $12,000 · management and general $12,000

  • 11b · Fees: legal

    total $0

  • 11c · Fees: accounting

    total $500 · management and general $500

  • 11d · Fees: lobbying

    total $0

  • 11f · Fees: investment management

    total $7,826 · management and general $7,826

  • 11g · Fees: other

    total $0

  • 12 · Advertising and promotion

    total $347 · management and general $347

  • 13 · Office expenses

    total $324 · management and general $324

  • 14 · Information technology

    total $2,063 · management and general $2,063

  • 15 · Royalties

    total $0

  • 16 · Occupancy

    total $0

  • 17 · Travel

    total $0

  • 18 · Travel or entertainment for public officials

    total $0

  • 19 · Conferences, conventions and meetings

    total $0

  • 20 · Interest

    total $0

  • 21 · Payments to affiliates

    total $0

  • 22 · Depreciation, depletion and amortization

    total $0

  • 23 · Insurance

    total $1,053 · management and general $1,053

  • 24a · Other expenses: WEBSITE MAINTENANCE

    total $420 · management and general $420

  • 24b · Other expenses: CHAMBER OF COMMERCE MEMBERSHIP

    total $300 · management and general $300

  • 24c · Other expenses: BANK FEES

    total $51 · management and general $51

  • 24d · Other expenses: MINNESOTA REGISTRATION

    total $25 · management and general $25

  • 24e · All other expenses

    total $0

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $7,125 · end of year $6,469

  • 2 · Savings and temporary cash investments

    beginning of year $5,961 · end of year $6,036

  • 12 · Investments: other securities

    beginning of year $833,051 · end of year $1,065,209

  • 27 · Net assets without donor restrictions

    beginning of year $660,390 · end of year $860,293

  • 28 · Net assets with donor restrictions

    beginning of year $185,747 · end of year $217,421

Mission and programs · 2025

Mission

Community Foundation providing assistance for the betterment of the community. Pillars are Education, Community and Economic Development, Arts and Environment.

Activities or mission (Part I)

Community Foundation providing assistance to provide for a better community. Pillars are Environment, Arts, Community and Economic Development and Education.

  • United Way of Goodhue, Wabasha, and Pierce Counties for Lake City Packing for the Weekend. Childrens food program

    Expenses $10,000 · Grants $10,000

  • First Luthern Church - Lake City

    Expenses $15,000 · Grants $15,000

  • Lake City Area Arts - Arts Programming

    Expenses $7,500 · Grants $7,500

As filed on the 2025 return. The filer continues this part on Schedule O, which is not shown here.

Listed in Part VII

  • Bruce Carlstrom

    SECRETARY

    Total calculated
    $12,000
    From this org
    $12,000
    From related orgs
    $0
    Other
    $0
    Hours/week
    20 + 5 related

  • Peter Coyle

    CHAIRMAN

    Total calculated
    $0
    Hours/week
    5

  • Beth Krehbiel

    PRESIDENT

    Total calculated
    $0
    Hours/week
    1

  • Mark Nichols

    DIRECTOR

    Total calculated
    $0
    Hours/week
    5

  • Steven Lang

    TREASURER

    Total calculated
    $0
    Hours/week
    5

  • Heather Banks

    ASST TREASURER

    Total calculated
    $0
    Hours/week
    1

  • Gregory Langfield

    DIRECTOR

    Total calculated
    $0
    Hours/week
    2

  • Jolene Harvey

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Sarah Blaser

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Peg Mattke

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Ann Nibbe

    DIRECTOR

    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.

Schedule J

Answered yes

None.

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

Provenance

Return type
form_990
Tax year
2025
Filed
7 May 2026
IRS schema version
2025v4.1
Source object
202601319349301740

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