Red Lake Nation College
- Assets
- $10.3m
- Revenue
- $4.9m
- Investments
- $0.0
- Employees
- 84
- Location
- Red Lake, MN
- Founding
- 12/2010
- Data as of
- 12/2022
- EIN
- 26-3031521
Organization Overview
Red Lake Nation College is located in Red Lake, MN. The organization was established in 2010. According to its NTEE Classification (B41) the organization is classified as: Two-Year Colleges, under the broad grouping of Education and related organizations. As of 12/2022, Red Lake Nation College employed 84 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Red Lake Nation College is a 501(c)(3) and as such, is described as a "Charitable or Religous organization or a private foundation" by the IRS.
For the year ending 12/2022, Red Lake Nation College generated $4.9m in total revenue. This organization has experienced exceptional growth, as over the past 8 years, it has increased revenue by an average of 17.6% each year . All expenses for the organization totaled $5.6m during the year ending 12/2022. While expenses have increased by 19.4% per year over the past 8 years. They've been increasing with an increasing level of total revenue. You can explore the organizations financials more deeply in the financial statements section below.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2022
Describe the Organization's Mission:
Part 3 - Line 1
THE MISSION OF RED LAKE NATION COLLEGE IS TO PROVIDE EXCELLENT HIGHER EDUCATION.
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE ORGANIZATION OFFERS TWO YEAR LIBERAL ARTS DEGREES THROUGH COMPLETION OF GENERAL EDUCATION COURSES. STUDENTS CAN THEN TRANSFER TO ANOTHER INSTITUTION IF THEY CHOOSE TO PURSUE A HIGHER DEGREE.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Donovan English Board Member | Trustee | 4 | $13,800 |
Thelma May Board Member | Trustee | 4 | $3,750 |
Sharon Norris Board Member | Trustee | 4 | $13,800 |
Rachele Donnell Secretary | Trustee | 4 | $13,800 |
Delwyn Holthusen Jr Board Member | Trustee | 4 | $13,800 |
Charlys May Board Vice Chairwoman | Trustee | 4 | $14,550 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $4,272,707 |
| All other contributions, gifts, grants, and similar amounts not included above | $57,086 |
| Noncash contributions included in lines 1a–1f | $3,553 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $4,329,793 |
| Total Program Service Revenue | $284,675 |
| Investment income | $0 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $4,934,030 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $0 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $537,363 |
| Compensation of current officers, directors, key employees. | $429,609 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $1,779,598 |
| Pension plan accruals and contributions | $121,114 |
| Other employee benefits | $289,447 |
| Payroll taxes | $197,666 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $3,325 |
| Fees for services: Accounting | $62,050 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $478,122 |
| Advertising and promotion | $0 |
| Office expenses | $12,959 |
| Information technology | $58,133 |
| Royalties | $0 |
| Occupancy | $273,725 |
| Travel | $52,913 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $78,675 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $173,312 |
| Insurance | $1,166 |
| All other expenses | $84,902 |
| Total functional expenses | $5,585,145 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $4,912,812 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $704,883 |
| Accounts receivable, net | $0 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $56,765 |
| Prepaid expenses and deferred charges | $2,000 |
| Net Land, buildings, and equipment | $4,595,245 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $10,271,705 |
| Accounts payable and accrued expenses | $316,896 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| Tax-exempt bond liabilities | $0 |
| Escrow or custodial account liability | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $0 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $0 |
| Total liabilities | $316,896 |
| Net assets without donor restrictions | $0 |
| Net assets with donor restrictions | $0 |
| Capital stock or trust principal, or current funds | $0 |
| Paid-in or capital surplus, or land, building, or equipment fund | $4,595,245 |
| Retained earnings, endowment, accumulated income, or other funds | $5,359,564 |
| Total liabilities and net assets/fund balances | $10,271,705 |