Leech Lake Financial Services Inc
- Assets
- $1.3m
- Revenue
- $593.7k
- Investments
- $0.0
- Employees
- 4
- Location
- Cass Lake, MN
- Founding
- 07/2014
- Data as of
- 12/2021
- EIN
- 46-2579700
Organization Overview
Leech Lake Financial Services Inc is located in Cass Lake, MN. The organization was established in 2014. According to its NTEE Classification (P20) the organization is classified as: Human Service Organizations, under the broad grouping of Human Services and related organizations. As of 12/2021, Leech Lake Financial Services Inc employed 4 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Leech Lake Financial Services 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 12/2021, Leech Lake Financial Services Inc generated $593.7k 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 (4.7%) each year. All expenses for the organization totaled $476.6k during the year ending 12/2021. 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
2021
Describe the Organization's Mission:
Part 3 - Line 1
TO PROMOTE ECONOMIC DEVELOPMENT BY PROVIDING SAFE, AFFORDABLE LOANS AND FINANCIAL TRAINING.
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE LOAN PROGRAMS PROVIDED MORE THAN 200 LOANS TO INDIVIDUALS AND BUSINESS WHO NORMALLY WOULDN'T QUALIFY FOR A CONVENTIONAL LOAN. THE PROGRAM ALSO PROVIDES FINANCIAL TRAINING.
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PDF Copies of 990 Filings
Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Breanna Miettinen Secretary | OfficerTrustee | 2 | $0 |
William Ethier Chair | OfficerTrustee | 2 | $0 |
Jeff Everhart Treasurer | Officer | 2 | $0 |
Gordon Fineday Director | Trustee | 1 | $0 |
Katie Guthrie Director | Trustee | 1 | $0 |
Sarah Kuesel Director | Trustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $410,361 |
| All other contributions, gifts, grants, and similar amounts not included above | $135,239 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $545,600 |
| Total Program Service Revenue | $46,931 |
| 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 | $593,731 |
| 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 | $227,664 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $20,358 |
| Payroll taxes | $18,093 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $10,750 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $80,629 |
| Advertising and promotion | $18,117 |
| Office expenses | $12,519 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $11,557 |
| Travel | $8,136 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $765 |
| Interest | $18,596 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $7,977 |
| Insurance | $0 |
| All other expenses | $0 |
| Total functional expenses | $476,575 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $593,082 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $48,118 |
| Accounts receivable, net | $4,320 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $393,568 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $0 |
| Net Land, buildings, and equipment | $276,267 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $1,315,355 |
| Accounts payable and accrued expenses | $49,830 |
| Grants payable | $0 |
| Deferred revenue | $111,148 |
| 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 | $108,318 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $373,170 |
| Total liabilities | $642,466 |
| Net assets without donor restrictions | $261,902 |
| Net assets with donor restrictions | $410,987 |
| 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 | $1,315,355 |
Grants Recieved
Over the last fiscal year, we have identified 7 grants that Leech Lake Financial Services Inc has recieved totaling $462,063.
| Awarding Organization | Amount |
|---|---|
Northwest Area Foundation St Paul, MN PURPOSE: GENERAL OPERATING SUPPORT - SUSTAINABILITY FUNDING | $200,000 |
Northwest Area Foundation St Paul, MN PURPOSE: SUSTAINABILITY FUNDING | $100,000 |
Bush Foundation St Paul, MN PURPOSE: SUPPORT FOR WORK RELATED TO A PROGRAM-RELATED INVESTMENT INTENDED TO SUPPORT NATIVE-LED BUSINESSES AND NATIVE PEOPLE IN MINNESOTA AND THE NATIVE NATIONS THAT SHARE THE SAME GEOGRAPHY | $50,000 |
Charles K Blandin Foundation Grand Rapids, MN PURPOSE: PROJECT SUPPORT FOR AFFORDABLE HOUSING DEVELOPMENT IN THE LEECH LAKE AREA IN RURAL MINNESOTA | $50,000 |
Headwaters Foundation For Justice Minneapolis, MN PURPOSE: GENERAL OPERATING SUPPORT | $40,000 |
Charles K Blandin Foundation Grand Rapids, MN PURPOSE: PROJECT SUPPORT TO SUPPORT AN INDIGENOUS ART FESTIVAL IN RURAL MINNESOTA | $15,000 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Goodwill Industries Of North Central Wisc Inc Menasha, WI | $88,771,633 | $81,283,932 |
Catholic Charities Of The Archdiocese Of St Paul & Mpls St Paul, MN | $180,924,652 | $74,331,650 |
Hawkeye Area Community Action Program Inc Hiawatha, IA | $14,892,193 | $63,434,127 |
Community Advocates Inc Milwaukee, WI | $18,692,383 | $54,333,478 |
Lutheran Social Services Of Wisconsin And Upper Michigan West Allis, WI | $89,212,422 | $59,977,625 |
South Metro Human Services St Paul, MN | $24,939,611 | $41,757,961 |
Parents In Community Action Minneapolis, MN | $14,134,015 | $37,230,373 |
Innovative Services Inc Green Bay, WI | $4,761,789 | $25,201,501 |
Lutheran Social Services Of South Dakota Sioux Falls, SD | $22,221,819 | $25,937,236 |
Project For Pride In Living Inc Minneapolis, MN | $29,922,760 | $30,071,909 |
Inter-Lakes Community Action Partnership Inc Madison, SD | $10,023,464 | $21,798,461 |
Catholic Charities Of The Diocese Of St Cloud St Cloud, MN | $15,523,133 | $20,074,695 |