Icelandic Communities Association
- Assets
- $74.4k
- Revenue
- $0.0
- Investments
- $0.0
- Employees
- 0
- Location
- Mountain, ND
- Founding
- 05/2003
- Data as of
- 12/2022
- EIN
- 30-0104966
Organization Overview
Icelandic Communities Association is located in Mountain, ND. The organization was established in 2003. According to its NTEE Classification (A70) the organization is classified as: Humanities, under the broad grouping of Arts, Culture & Humanities and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Icelandic Communities Association 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, Icelandic Communities Association generated $21.2k in total revenue. This represents a relatively dramatic decline in revenue. Over the past 7 years, the organization has seen revenues fall by an average of (14.1%) each year. All expenses for the organization totaled $13.2k during the year ending 12/2022. As we would expect to see with falling revenues, expenses have declined by (21.0%) per year over the past 7 years. You can explore the organizations financials more deeply in the financial statements section below.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Curtis Olafson President | 5 | $0 | |
Shirley Olgeirson Vice President | 5 | $0 | |
Judy Geir Secretary | 5 | $0 | |
George Wright Treasurer | 5 | $0 | |
Susan Powers Director | 5 | $0 | |
Kathleen Thorlakson Director | 5 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Total Revenue from Contributions, Gifts, Grants & Similar | $3,935 |
| Total Program Service Revenue | $0 |
| Membership dues | $2,414 |
| Investment income | $43 |
| Gain or Loss | $0 |
| Net Income from Gaming & Fundraising | $18,409 |
| Other Revenue | $0 |
| Total Revenue | $21,234 |
| Statement of Expenses | |
|---|---|
| Grants and similar amounts paid | $0 |
| Benefits paid to or for members | $0 |
| Salaries, other compensation, and employee benefits | $0 |
| Professional fees and other payments to independent contractors | $435 |
| Occupancy, rent, utilities, and maintenance | $4,465 |
| Printing, publications, postage, and shipping | $1,590 |
| Other expenses | $2,685 |
| Total expenses | $13,175 |
| Balance Sheet | |
|---|---|
| Cash, savings, and investments | $73,647 |
| Other assets | $0 |
| Total assets | $74,394 |
| Total liabilities | $0 |
| Net assets or fund balances | $74,394 |