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Nonprofiteer
← FLORENCE LAKE CHARITABLE TRUST

Form 990 for tax year 2023

Filed by FLORENCE LAKE CHARITABLE TRUST.

Totals

Total revenue
$67,619
Total expenses
$122,154
Contributions and grants received
$0
Grants paid
$97,561
Program service revenue
$0
Investment income
$67,619
Other revenue
$0
Total assets, end of year
$3,042,075
Total liabilities, end of year
$0
Net assets or fund balances, end of year
$3,042,075
Program services expenses (Part IX)
$97,561
Management and general expenses
$24,593
Fundraising expenses
$0
Program service expenses (Part III)
$97,561

Program services were 79.9% 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.

  • 3 · Investment income

    total $103,167 · excluded $103,167

  • 7a · Gross sales of assets other than inventory

    securities $1,537,439

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

    securities $1,572,987

  • 7c · Gain or loss

    securities -$35,548

  • 7d · Net gain or loss

    total -$35,548

Functional expenses

Part IX, the statement of functional expenses.

  • 1 · Grants to domestic organizations and governments

    total $97,561 · program services $97,561

  • 5 · Compensation of officers, directors and key employees

    total $17,809 · management and general $17,809

  • 11g · Fees: other

    total $5,873 · management and general $5,873

  • 24e · All other expenses

    total $911 · management and general $911

Balance sheet

Part X, book values.

  • 2 · Savings and temporary cash investments

    beginning of year $8,089 · end of year $8,320

  • 11 · Investments: publicly traded securities

    beginning of year $3,088,521 · end of year $3,033,755

  • 31 · Retained earnings, endowment or other funds

    beginning of year $3,096,610 · end of year $3,042,075

Mission and programs · 2023

Mission

There is no formal Mission Statement. The Last Will and Testament of Florence Lake created this charitable trust. The Will specifically lists the three organizations that are to receive annually one third of the trust income. The Will further states that the Central Institute for the Deaf and the Community College are to use the funds to establish scholarship fund to help students, The Will states that the amounts paid each year must be distributed annually for scholarships. The Devils Lake Foundation is to use the annual payment for qualified charitable purposes and such funds are to be distributed annually. The Trust holds annual meetings. The meetings are attended by members of the supported organizations. These organizations submit an annual report regarding the use of the funds

  • Central institute for the deaf, grants scholarships to children who are deaf and hard of hearing who are candidates for learning listening and spoken language skills.

    Expenses $32,517 · Grants $32,517

  • Awarding of grants to charitable organizations within the Devils lake area.

    Expenses $32,527 · Grants $32,527

  • Grants are made to lake region state college a state owned university, which is responsible for ensuring that grants, scholarships and other financial assistance is being administered in accordance with donor instructions.

    Expenses $32,517 · Grants $32,517

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

Listed in Part VII

  • Perter Halbach

    Co-Trustee

    Total calculated
    $0

  • Maren Halbach

    Co-Trustee

    Total calculated
    $0

  • Alerus Financial

    Co-Trustee

    Total calculated
    $0

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
1 May 2024
IRS schema version
2023v5.0
Source object
202431289349300943

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