Luverne Area Community Foundation
- Assets
- $5.7m
- Revenue
- $2.2m
- Investments
- $250.0k
- Employees
- 3
- Location
- Luverne, MN
- Founding
- 11/1992
- Data as of
- 12/2022
- EIN
- 41-1512905
Organization Overview
Luverne Area Community Foundation is located in Luverne, MN. The organization was established in 1992. According to its NTEE Classification (T31) the organization is classified as: Community Foundations, under the broad grouping of Philanthropy, Voluntarism & Grantmaking Foundations and related organizations. As of 12/2022, Luverne Area Community Foundation employed 3 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Luverne Area Community Foundation 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, Luverne Area Community Foundation generated $2.2m in total revenue. This organization has experienced exceptional growth, as over the past 8 years, it has increased revenue by an average of 12.2% each year . All expenses for the organization totaled $2.3m during the year ending 12/2022. While expenses have increased by 19.9% 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.
Since 2014, Luverne Area Community Foundation has awarded 103 individual grants totaling $4,826,215. If you would like to learn more about the grant giving history of this organization, scroll down to the grant profile section of this page.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2022
Describe the Organization's Mission:
Part 3 - Line 1
LUVERNE AREA COMMUNITY FOUNDATION IS A PUBLICLY SUPPORTED COMMUNITY FOUNDATION THAT ATTRACTS, MANAGES, AND DISTRIBUTES CHARITABLE CONTRIBUTIONS AND GRANTS TO ITS PRIMARY SERVICE AREA, ROCK COUNTY, MINNESOTA, WHICH HAS A POPULATION OF APPROXIMATELY 10,000.
Describe the Organization's Program Activity:
Part 3 - Line 4a
LUVERNE AREA COMMUNITY FOUNDATION'S PRIMARY ACTIVITY IS GRANT MAKING AIMED AT IMPROVING THE QUALITY OF LIFE IN LACF'S SERVICE AREA. IN 2021 OF THE GRANTS MADE, MOST WERE COMPETITIVELY AWARDED TO ORGANIZATIONS THAT SOUGHT TO SERVICE AREAS PRESSING NEEDS AND OPPORTUNITIES. IN ALL MORE THAN 30 CHARITABLE ORGANIZATIONS RECEIVED SUPPORT FROM LACF AND INCLUDED THE ARTS AND HUMANITIES, COMMUNITY DEVELOPMENT, EDUCATION, HEALTH AND WELLNESS, HUMAN SERVICES, RELIGION AND YOUTH. SOME ORGANIZATIONS ARE ELIGIBLE FOR ANNUAL DISTRIBUTIONS FROM DESIGNATED/AGENCY ENDOWMENTS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Isaac Deboer President | OfficerTrustee | 1 | $0 |
Keith Elbers Director | Trustee | 1 | $0 |
Jeff Haubrich Director | Trustee | 1 | $0 |
Ron Honken Treasurer | Trustee | 1 | $0 |
Tammy Johnson Secty | OfficerTrustee | 1 | $0 |
Jim Juhl Director | Trustee | 1 | $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 | $1,876,162 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $1,876,162 |
| Total Program Service Revenue | $0 |
| Investment income | $168,722 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $27,354 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $2,158,225 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $1,308,294 |
| 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 | $60,147 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $6,289 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $0 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $95,366 |
| Advertising and promotion | $33,434 |
| Office expenses | $17,028 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $11,185 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $3,643 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $2,863 |
| Insurance | $5,674 |
| All other expenses | $4,210 |
| Total functional expenses | $2,325,054 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $500,666 |
| Pledges and grants receivable | $371,429 |
| 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 | $3,002 |
| Net Land, buildings, and equipment | $281 |
| Investments—publicly traded securities | $4,528,333 |
| Investments—other securities | $250,000 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $5,653,711 |
| Accounts payable and accrued expenses | $10,016 |
| Grants payable | $37,085 |
| 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 | $324,093 |
| Total liabilities | $371,194 |
| Net assets without donor restrictions | $3,741,267 |
| Net assets with donor restrictions | $1,541,250 |
| 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 | $5,653,711 |
Grants Awarded
Over the last fiscal year, Luverne Area Community Foundation has awarded $1,045,175 in support to 17 organizations.
| Grant Recipient | Amount |
|---|---|
BIBLE STUDY FELLOWSHIP | | | $20,000 |
BIG BUDDIES-COUNTY OF ROCK PURPOSE: CHILD MENTOR PROGRAM | $8,450 |
CHILD GUIDE PROGRAM-LUVERNE PUBLIC PURPOSE: MENTOR ASSIST. PROGR | $30,694 |
GENERATIONS INC | | | $215,000 |
FIRST PRESBYTERIAN CHURCH | | | $12,250 |
LUV1LUVALL | | | $47,130 |