Minnewaska Laker Foundation
- Assets
- $502.3k
- Revenue
- $139.4k
- Investments
- $0.0
- Employees
- 0
- Location
- Glenwood, MN
- Founding
- 01/2008
- Data as of
- 06/2023
- EIN
- 71-1041194
Organization Overview
Minnewaska Laker Foundation is located in Glenwood, MN. The organization was established in 2008. According to its NTEE Classification (B11) the organization is classified as: Single Organization Support, 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. Minnewaska Laker 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 06/2023, Minnewaska Laker Foundation generated $139.4k in total revenue. This organization has experienced exceptional growth, as over the past 8 years, it has increased revenue by an average of 18.1% each year . All expenses for the organization totaled $41.2k during the year ending 06/2023. While expenses have increased by 6.2% 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.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2023
Describe the Organization's Mission:
Part 3 - Line 1
TO SUPPORT, AID, PROMOTE, ENHANCE AND IMPROVE THE ACTIVITIES PROGRAMS (INCLUDING ATHLETICS, FINE ARTS, MUSIC AND ACADEMIC ACTIVITIES) OF THE MINNEWASKA AREA SCHOOL DISTRICT # 2149 IN POPE COUNTY, MINNESOTA. TO ENHANCE AND SECURE STUDENT OPPORTUNITIES TO PARTICIPATE IN ACTIVITIES AND TO STRENGTHEN THE RELATIONSHIP THAT EXISTS BETWEEN THE SCHOOL DISTRICT, IT'S ALUMNI AND THE COMMUNITIES THAT IT SERVES, INCLUDING GLENWOOD, LOWRY, STARBUCK, SEDAN AND VILLARD. TO STRENGTHEN THE EDUCATIONAL SYSTEM OF THE SCHOOL DISTRICT.
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE FOUNDATION DONATED FUNDS TO THE MINNEWASKA AREA SCHOOL DISTRICT #2149 TO HELP COVER THE SHORTFALL FOR EXTRA CURRICULAR EXPENSES FOR STUDENTS IN ATHLETICS, ACADEMIC ORGANIZATIONS, MUSIC AND ARTS. THE TOTAL DONATIONS TO MINNEWASKA AREA SCHOOLS TOTALED $30,460. OVER 1,000 STUDENTS ARE SERVED BY THE MINNEWASKA AREA SCHOOL DISTRICT #2149 IN GRADES K-12, AND THE MAJORITY OF THOSE STUDENTS BENEFIT FROM THE DONATIONS AND ACTIVITIES OF THE MINNEWASKA LAKER FOUNDATION. THE FOUNDATION DONATED $5,000 TO THE MINNEWASKA BASEBALL ASSOCIATION (A 501(C)(3) ORGANIZATION) FOR BASEBALL FIELD AND STADIUM IMPROVEMENTS ON THE MINNEWASKA AREA SCHOOL CAMPUS. THE FOUNDATION DONATED $1,000 TO MINNEWASKA DOLLARS FOR SCHOLARS (A 501(C)(3) ORGANIZATION)FOR SCHOLARSHIPS FOR MINNEWASKA GRADUATES.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Karna Peters President | Trustee | 2 | $0 |
Rick Ekstrand Past President | Trustee | 2 | $0 |
Donna Braaten Secretary | Trustee | 2 | $0 |
Brianna Zuber Beckwith Director | Trustee | 2 | $0 |
Chad Barsness Director | Trustee | 2 | $0 |
Bridget Gallagher Director | Trustee | 2 | $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 | $93,982 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $93,982 |
| Total Program Service Revenue | $0 |
| Investment income | $29,610 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | $15,759 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $139,351 |
| 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 | $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 | $0 |
| 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 | $7 |
| 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 | $187 |
| Total functional expenses | $41,226 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $4,602 |
| Savings and temporary cash investments | $114,662 |
| 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 | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $383,046 |
| Total assets | $502,310 |
| 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 | $192,518 |
| Other liabilities | $2 |
| Total liabilities | $192,520 |
| Net assets without donor restrictions | -$96,429 |
| Net assets with donor restrictions | $406,219 |
| 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 | $502,310 |