Devils Lake Area Foundation
- Assets
- $9.8m
- Revenue
- $381.7k
- Investments
- $8.5m
- Employees
- 0
- Location
- Devils Lake, ND
- Founding
- 02/1976
- Data as of
- 11/2022
- EIN
- 46-6040496
Organization Overview
Devils Lake Area Foundation is located in Devils Lake, ND. The organization was established in 1976. 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. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Devils Lake Area 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 11/2022, Devils Lake Area Foundation generated $381.7k in total revenue. The organization has seen a slow decline revenue. Over the past 7 years, revenues have fallen by an average of (1.7%) each year. All expenses for the organization totaled $174.7k during the year ending 11/2022. As we would expect to see with falling revenues, expenses have declined by (1.6%) per year over the past 7 years. You can explore the organizations financials more deeply in the financial statements section below.
Since 2021, Devils Lake Area Foundation has awarded 11 individual grants totaling $148,253. 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
DISTRIBUTE INCOME EARNED ON THE ORGANIZATIONS ASSETS TO CHARITABLE ORGANIZATIONS IN THE DEVILS LAKE, ND AREA.
Describe the Organization's Program Activity:
Part 3 - Line 4a
AWARDING OF GRANTS TO CHARITABLE ORGANIZATIONS WITHIN THE DEVILS LAKE AREA.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Name Not Listed Trustee | 5 | $80,414 | |
Stephanie Shock Executive Secretary | Officer | 1 | $0 |
Dave Fix Director | Trustee | 0.1 | $0 |
Todd Thompson Director | Trustee | 0.1 | $0 |
Kelly Swenseth Director | Trustee | 0.1 | $0 |
Dawn Merten Director | Trustee | 0.1 | $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 | $163,870 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $163,870 |
| Total Program Service Revenue | $0 |
| Investment income | $131,345 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $85,090 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $381,678 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $100,759 |
| 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. | $53,720 |
| Compensation of current officers, directors, key employees. | $53,720 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $0 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $0 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $5,834 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $0 |
| Office expenses | $0 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $0 |
| 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 | $0 |
| All other expenses | $0 |
| Total functional expenses | $174,653 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $259,407 |
| 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 | $0 |
| Investments—other securities | $8,535,918 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $993,001 |
| Total assets | $9,788,326 |
| Accounts payable and accrued expenses | $0 |
| 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 | $2,822,703 |
| Total liabilities | $2,822,703 |
| Net assets without donor restrictions | $2,178,177 |
| Net assets with donor restrictions | $4,787,446 |
| 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 | $9,788,326 |
Grants Awarded
Over the last fiscal year, Devils Lake Area Foundation has awarded $81,281 in support to 6 organizations.
| Grant Recipient | Amount |
|---|---|
DEVILS LAKE PUBLIC SCHOOLS PURPOSE: SCHOLARSHIPS, EDUCATION & EQUIPMENT | $27,719 |
Devils Lake, ND PURPOSE: EQUIPMENT & FOOD ASSISTANCE | $22,862 |
ANNE-MARIT BERGSTROM PURPOSE: ANNUITY | $12,030 |
Devils Lake, ND PURPOSE: EQUIPMENT & GENERAL ASSISTANCE | $7,649 |
LAKE REGION STATE COLLEGE PURPOSE: SCHOLARSHIPS & EDUCATION | $5,649 |
DEVILS LAKE PARK BOARD PURPOSE: FISHING PIER | $5,372 |
Grants Recieved
Over the last fiscal year, we have identified 1 grants that Devils Lake Area Foundation has recieved totaling $6,881.
| Awarding Organization | Amount |
|---|---|
Thrivent Financial For Lutherans Minneapolis, MN PURPOSE: GENERAL SUPPORT | $6,881 |
Endowment Analysis
| Beg. Balance | $7,645,956 |
| Earnings | -$671,182 |
| Net Contributions | $163,870 |
| Grants | $193,144 |
| Ending Balance | $6,945,500 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Sioux Falls Area Community Foundation Inc Sioux Falls, SD | $264,068,911 | $59,923,672 |
Catholic Community Foundation Of Minnesota St Paul, MN | $510,001,439 | $72,097,381 |
Communitygiving St Cloud, MN | $193,103,222 | $46,523,540 |
3m Open Fund Blaine, MN | $2,792,523 | $13,492,516 |
Fargo-Moorhead Area Foundation Corporation Fargo, ND | $123,601,833 | $30,025,035 |
Whitefish Community Foundation Inc Whitefish, MT | $55,891,446 | $19,214,103 |
Yellowstone Club Community Foundaction Bozeman, MT | $7,118,258 | $8,242,753 |
West Central Initiative Fergus Falls, MN | $80,928,029 | $10,157,757 |
Montana Community Foundation Inc Helena, MT | $124,041,175 | $24,837,343 |
North Dakota Community Foundation Bismarck, ND | $128,952,115 | $14,760,573 |
Rochester Area Foundation Rochester, MN | $45,116,721 | $11,703,419 |
Womens Foundation Of Minnesota Minneapolis, MN | $30,253,405 | $5,522,981 |