Oak Grove Lutheran High School Foundation
- Assets
- $7.4m
- Revenue
- $179.5k
- Investments
- $0.0
- Employees
- 0
- Location
- Fargo, ND
- Founding
- 04/1992
- Data as of
- 06/2020
- EIN
- 45-0422983
Organization Overview
Oak Grove Lutheran High School Foundation is located in Fargo, ND. The organization was established in 1992. According to its NTEE Classification (B99) the organization is classified as: Education N.E.C., 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.
For the year ending 06/2020, Oak Grove Lutheran High School Foundation generated $179.5k in total revenue. This represents a relatively dramatic decline in revenue. Over the past 6 years, the organization has seen revenues fall by an average of (4.0%) each year. All expenses for the organization totaled $352.1k during the year ending 06/2020. As we would expect to see with falling revenues, expenses have declined by (6.0%) per year over the past 6 years. 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
2020
Describe the Organization's Mission:
Part 3 - Line 1
PROVIDE TUITION ASSISTANCE TO OAK GROVE STUDENTS AND FINANCIAL SUPPORT FOR THE SCHOOL.
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE PRIMARY PURPOSE OF THE OAK GROVE LUTHERAN SCHOOL FOUNDATION IS TO RECEIVE AND MAINTAIN A FUND OR FUNDS OF REAL OR PERSONAL PROPERTY OR BOTH, AND TO USE OR APPLY THE WHOLE OR ANY PART OF THE INCOME THEREFROM AND THE PRINCIPAL THEREOF EXCLUSIVELY FOR CHARITABLE, RELIGIOUS, LITERARY, OR EDUCATIONAL PURPOSES, INCLUDING SUCH PURPOSES AS MAY BE UNDERTAKEN, APPROVED OR SUPPORTED BY THE OAK GROVE LUTHERAN SCHOOL. IN 2019, THE FOUNDATION TRANSFERRED $195,000 FROM ITS ENDOWMENT POOL TO THE SCHOOL FOR TUITION AID AND FACULTY DEVELOPMENT. THE FOUNDATION TRANSFER ENABLED THE SCHOOL TO PROVIDE 24 ACADEMIC SCHOLARSHIPS AND 43 GRANTS TO STUDENTS OF OAK GROVE LUTHERAN SCHOOL. DURING 2019 THE FOUNDATION ALSO TRANSFERRED $100,000 TO OAK GROVE LUTHERAN SCHOOL TO FUND NEEDED CLASSROOM RENOVATIONS AT ITS ELEMENTARY SCHOOL.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Patrick Chaffee Vice Chair | OfficerTrustee | 0.3 | $0 |
Scott Roller Secretary | OfficerTrustee | 0.3 | $0 |
Dan Bueide Chair | OfficerTrustee | 1 | $0 |
Derek Sunderland Treasurer | OfficerTrustee | 0.3 | $0 |
Errol Schoenfish Secretary | OfficerTrustee | 0.3 | $0 |
Matthew Hallaway Chief Advancement Officer | Officer | 6 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Total Revenue from Contributions, Gifts, Grants & Similar | $110,933 |
| Investment income | $16,606 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $17,100 |
| Net Gain/Loss on Asset Sales | $34,868 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $179,507 |
| 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 | $0 |
| Fees for services: Legal | $310 |
| Fees for services: Accounting | $9,633 |
| 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 | $8,793 |
| 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 | $6,950 |
| Insurance | $0 |
| All other expenses | $0 |
| Total functional expenses | $352,143 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $362,661 |
| Savings and temporary cash investments | $127,055 |
| 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 |
| Investments—publicly traded securities | $6,671,161 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $7,357,068 |
| 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 | $180,865 |
| Total liabilities | $180,865 |
| Net assets without donor restrictions | $0 |
| 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 | $7,176,203 |
Grants Awarded
Over the last fiscal year, Oak Grove Lutheran High School Foundation has awarded $295,000 in support to 2 organizations.
| Grant Recipient | Amount |
|---|---|
Fargo, ND PURPOSE: SCHOOL TUITION AID AND FACULTY DEVELOPMENT | $195,000 |
Fargo, ND PURPOSE: CLASSROOM EXPANSION | $100,000 |
Endowment Analysis
| Beg. Balance | $5,805,949 |
| Earnings | $141,991 |
| Admin Expense | $21,023 |
| Net Contributions | $61,422 |
| Grants | $173,977 |
| Ending Balance | $5,814,362 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Minnesota Transitions Chartered School Minneapolis, MN | $21,744,421 | $48,668,552 |
College Possible Saint Paul, MN | $23,322,692 | $25,329,185 |
Midwest Dairy Association Saint Paul, MN | $7,052,081 | $22,470,604 |
Und Sports Facilities Inc Grand Forks, ND | $57,049,726 | $3,037,661 |
St Paul City School St Paul, MN | $6,459,358 | $9,637,799 |
Minnesota Society Of Certified Public Accountants Bloomington, MN | $5,795,391 | $6,828,015 |
Central Minnesota Christian School Prinsburg, MN | $21,328,475 | $3,841,805 |
Teachwell Solutions Sioux Falls, SD | $3,183,055 | $4,710,433 |
Life Prep St Paul, MN | $2,994,685 | $5,078,321 |
Farmers Educational & Cooperative Union Of America North Dakota Div Jamestown, ND | $81,910,722 | $3,366,870 |
Bair Ranch Foundation Billings, MT | $57,830,729 | $3,008,820 |
Project Success-Students Undertaking Creative Control Minneapolis, MN | $2,968,882 | $4,141,832 |