Waldorf Lutheran College Foundation Inc
- Assets
- $6.1m
- Revenue
- $1.3m
- Investments
- $0.0
- Employees
- 0
- Location
- Forest City, IA
- Founding
- 05/2011
- Data as of
- 05/2022
- EIN
- 27-4358184
Organization Overview
Waldorf Lutheran College Foundation Inc is located in Forest City, IA. The organization was established in 2011. According to its NTEE Classification (B82) the organization is classified as: Scholarships & Student Financial Aid, under the broad grouping of Education and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Waldorf Lutheran College Foundation Inc 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 05/2022, Waldorf Lutheran College Foundation Inc generated $1.3m in total revenue. This organization has experienced exceptional growth, as over the past 7 years, it has increased revenue by an average of 15.4% each year . All expenses for the organization totaled $456.2k during the year ending 05/2022. While expenses have increased by 6.7% per year over the past 7 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
SEE SCHEDULE O.
Describe the Organization's Program Activity:
Part 3 - Line 4a
WALDORF LUTHERAN COLLEGE FOUNDATION, INC. HAS ESTABLISHED NUMEROUS SCHOLARSHIP FUNDS ALONG WITH A GENERAL ENDOWMENT FUND. THESE FUNDS WILL BE UTILIZED TO PROVIDE FINANCIAL SUPPORT AND SCHOLARSHIPS TO STUDENTS OF WALDORF UNIVERSITY.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Raymond Beebe Chairman Of | Officer | $0 | |
Richard Corcoran Treasurer | Officer | $0 | |
Daniel Dant Director | Trustee | $0 | |
Rod Hopp Secretary | Trustee | $0 | |
Travis Finstad Director | Trustee | $0 | |
Cecilia Horner Director | Trustee | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $1,025,440 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $1,025,440 |
| Total Program Service Revenue | $0 |
| Investment income | $137,821 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $147,992 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $1,310,424 |
| 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. | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $123,737 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $1,399 |
| Payroll taxes | $0 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $47,278 |
| Fees for services: Accounting | $22,540 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $15,423 |
| Advertising and promotion | $617 |
| Office expenses | $25,079 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $9 |
| Travel | $5,090 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $1,324 |
| All other expenses | $0 |
| Total functional expenses | $456,173 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $604,971 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| 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 | $0 |
| Prepaid expenses and deferred charges | $0 |
| Net Land, buildings, and equipment | $0 |
| Investments—publicly traded securities | $5,475,636 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $6,080,607 |
| Accounts payable and accrued expenses | $49,527 |
| 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 | $35,641 |
| Total liabilities | $85,168 |
| Net assets without donor restrictions | $1,923,578 |
| Net assets with donor restrictions | $4,071,861 |
| Capital stock or trust principal, or current funds | $0 |
| Paid-in or capital surplus, or land, building, or equipment fund | $0 |
| Retained earnings, endowment, accumulated income, or other funds | $0 |
| Total liabilities and net assets/fund balances | $6,080,607 |
Grants Recieved
Over the last fiscal year, we have identified 2 grants that Waldorf Lutheran College Foundation Inc has recieved totaling $985.
| Awarding Organization | Amount |
|---|---|
Pfizer Foundation Inc New York, NY PURPOSE: MATCHING GIFTS | $850 |
Amazonsmile Foundation Seattle, WA PURPOSE: GENERAL SUPPORT | $135 |
Endowment Analysis
| Beg. Balance | $2,801,251 |
| Earnings | -$289,697 |
| Net Contributions | $582,684 |
| Grants | $126,244 |
| Ending Balance | $2,967,994 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
National Equity Fund Inc Chicago, IL | $118,912,735 | $59,533,345 |
Iowa Student Loan Liquidity Corp West Des Moines, IA | $1,230,053,718 | $45,688,659 |
National Merit Scholarship Corporation Evanston, IL | $183,825,978 | $50,191,294 |
Northstar Education Finance Inc Eagan, MN | $1,293,468,719 | $40,177,777 |
Evans Scholars Foundation Glenview, IL | $101,873,087 | $62,566,812 |
Northwestern Mutual Life Foundation Inc Milwaukee, WI | $106,326,341 | $38,353,841 |
Scholarship America Inc Minneapolis, MN | $219,130,905 | $29,933,482 |
Nebraska Student Loan Program Inc Lincoln, NE | $230,624,169 | $45,453,979 |
Future Leaders Of Americafoundation Inc Chicago, IL | $0 | $13,517,008 |
Kansas City Scholars Inc Kansas City, MO | $5,810,030 | $12,156,402 |
Des Moines Golf And Country Club West Des Moines, IA | $24,329,403 | $13,657,003 |
Waitt Foundation North Sioux City, SD | $157,175,219 | $6,009,824 |