Glenwood Commons Inc
- Assets
- $3.5m
- Revenue
- $383.7k
- Investments
- $0.0
- Employees
- 0
- Location
- Glenwood City, WI
- Founding
- Data as of
- 06/2015
- EIN
- 56-2379798
Organization Overview
Glenwood Commons Inc is located in Glenwood City, WI. Glenwood Commons Inc is a 501(c)(3) and as such, is described as a "Charitable or Religous organization or a private foundation" by the IRS.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2015
Describe the Organization's Mission:
Part 3 - Line 1
TO PROVIDE HOUSING TO STUDENTS OF UNIVERSITY OF WISCONSIN-BARRON COUNTY & WISCONSIN INDIANHEAD TECHNICAL COLLEGE.
Describe the Organization's Program Activity:
Part 3 - Line 4a
GLENWOOD COMMONS PROVIDES LOW INCOME AND STUDENT HOUSING TO INDIVIDUALS RESIDING IN AND OR ATTENDING ONE OF THE TWO PUBLIC COLLEGES IN RICE LAKE, WISCONSIN.WORKING CLOSELY WITH THE LEADERSHIP OF WISCONSIN INDIANHEAD TECHNICAL COLLEGE (WITC) AND THE UNIVERSITY OF WISCONSIN-BARRON COUNTY (UW-BC), BOTH LOCATED IN RICE LAKE, WISCONSIN, GLENWOOD COMMONS HAS SINCE IT OPENED SERVED AS A RESIDENCE FOR STUDENTS. UNTIL GLENWOOD COMMONS OPENED THERE WERE FEW, IF ANY OPTIONS FOR STUDENTS TO LIVE NEAR EITHER CAMPUS. WITH AN ON-SITE RESIDENT ASSISTANT, POD DESIGNED ROOMS (TYPICAL OF MODERN RESIDENCE HALLS) AND COLLEGIAL STUDY AREAS, THE FACILITY OFFERS STUDENTS AT BOTH COLLEGES THE OPPORTUNITY TO LIVE CLOSE TO AND WALK TO SCHOOL. FROM THE OUTSET, LEADERSHIP OF THE TWO COLLEGES HAS BEEN INVOLVED IN THE ADMINISTRATION AND DIRECTION OF THE ORGANIZATION WHICH BOTH SCHOOLS HAVE FUNDED.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Todd Solberg President (thru April) | OfficerTrustee | 1 | $0 |
Dale Fenton Vice President | OfficerTrustee | 1 | $0 |
Craig Fowler Secretary | OfficerTrustee | 1 | $0 |
Steven Decker Treasurer | OfficerTrustee | 1 | $0 |
Paul Chase Board Member (thru September) | Trustee | 1 | $0 |
Todd Groat Board Member | Trustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Total Revenue from Contributions, Gifts, Grants & Similar | $0 |
| Investment income | $440 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | -$573 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $383,722 |
| Statement of Expenses | |
|---|---|
| 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 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 | $60,796 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $6,800 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $10,910 |
| Advertising and promotion | $2,506 |
| Office expenses | $4,489 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $119,210 |
| Travel | $1,001 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $172,502 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $105,776 |
| Insurance | $6,126 |
| All other expenses | $0 |
| Total functional expenses | $505,284 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $56,104 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $5,466 |
| 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 | $1,927 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $179,672 |
| Total assets | $3,484,605 |
| Accounts payable and accrued expenses | $69,538 |
| Grants payable | $0 |
| Deferred revenue | $5,198 |
| 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 | $3,918,992 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $13,320 |
| Total liabilities | $4,007,048 |
| Net assets without donor restrictions | -$522,443 |
| Net assets with donor restrictions | $0 |
| Capital stock or trust principal, or current funds | $0 |
| Paid-in or capital surplus, or land, building, or equipment fund | $0 |
| Total liabilities and net assets/fund balances | -$522,443 |
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