Crosslake Ideal Scholarship Fund Inc
- Assets
- $208.5k
- Revenue
- $10.0k
- Investments
- $199.7k
- Employees
- 0
- Location
- Crosslake, MN
- Founding
- 08/1993
- Data as of
- 03/2024
- EIN
- 41-1636618
Organization Overview
Crosslake Ideal Scholarship Fund Inc is located in Crosslake, MN. The organization was established in 1993. 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. Crosslake Ideal Scholarship Fund 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 03/2024, Crosslake Ideal Scholarship Fund Inc generated $10.0k in total revenue. This represents a relatively dramatic decline in revenue. Over the past 5 years, the organization has seen revenues fall by an average of (13.8%) each year. All expenses for the organization totaled $7.5k during the year ending 03/2024. You can explore the organizations financials more deeply in the financial statements section below.
Form
990PF
Mission & Program ActivityExcerpts From the 990PF Filing
TAX YEAR
2024
Describe the Organization's Program Activity:
Part 3 - Line 4a
EDUCATIONAL SCHOLARSHIPS
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Scott Gallaway President | 0 | $0 | |
Debby Floerchinger Secretary/tr | 0 | $0 | |
Chuck Cole Director | 0 | $0 | |
Gordy Reller Director | 0 | $0 | |
Stephen Roe Director | 0 | $0 | |
Jane Monson Director | 0 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $0 |
| Interest on Savings | $0 |
| Dividends & Interest | $7,103 |
| Net Rental Income | $0 |
| Net Gain on Sale of Assets | $2,916 |
| Capital Gain Net Income | $2,916 |
| Net ST Capital Gain | $0 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $0 |
| Other Income | $0 |
| Total Revenue | $10,019 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $0 |
| Other employee salaries and wages | $0 |
| Pension plans, employee benefits | $0 |
| Interest | $0 |
| Taxes | $86 |
| Depreciation | $0 |
| Occupancy | $0 |
| Travel, conferences, and meetings | $0 |
| Printing and publications | $0 |
| Other expenses | $2,167 |
| Total operating and administrative expenses | $3,018 |
| Contributions, gifts, grants paid | $4,500 |
| Total expenses and disbursements | $7,518 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $3,555 |
| Savings and temporary cash investments | $5,218 |
| Net Accounts receivable | $0 |
| Net Pledges Receivable | $0 |
| Grants receivable | $0 |
| Receivables from Officers, Directors, or Controlling Persons | $0 |
| Net other notes and loans receivable | $0 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $0 |
| Net Investments - land, buildings, equipment | $0 |
| Investments—mortgage loans | $0 |
| Investments—other | $199,715 |
| Net Land, buildings, and equipment | $0 |
| Other assets | $0 |
| Total assets | $208,488 |
| Accounts payable and accrued expenses | $1,500 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Mortgages and other notes payable | $0 |
| Other liabilities | $0 |
| Total liabilities | $1,500 |
Grants Awarded
Over the last fiscal year, Crosslake Ideal Scholarship Fund Inc has awarded $14,000 in support to 7 organizations.
| Grant Recipient | Amount |
|---|---|
MADISON FULTON PURPOSE: SCHOLARSHIP | $2,000 |
MACKENZIE MERTA PURPOSE: SCHOLARSHIP | $2,000 |
SHEENA JAMES PURPOSE: SCHOLARSHIP | $2,000 |
ELLA NIES PURPOSE: SCHOLARSHIP | $2,000 |
BROOKLYN DEAN PURPOSE: SCHOLARSHIP | $2,000 |
MIKAELA JONES PURPOSE: SCHOLARSHIP | $2,000 |