Lake Region Community College Foundation Of Devils Lake
- Assets
- $13.6m
- Revenue
- $1.2m
- Investments
- $12.2m
- Employees
- 0
- Location
- Devils Lake, ND
- Founding
- 09/1965
- Data as of
- 06/2021
- EIN
- 51-0242987
Organization Overview
Lake Region Community College Foundation Of Devils Lake is located in Devils Lake, ND. The organization was established in 1965. According to its NTEE Classification (B41) the organization is classified as: Two-Year Colleges, 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. Lake Region Community College Foundation Of Devils Lake 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 06/2021, Lake Region Community College Foundation Of Devils Lake generated $1.2m in total revenue. The organization has seen a slow decline revenue. Over the past 7 years, revenues have fallen by an average of (2.2%) each year. All expenses for the organization totaled $1.4m during the year ending 06/2021. You can explore the organizations financials more deeply in the financial statements section below.
Since 2015, Lake Region Community College Foundation Of Devils Lake has awarded 24 individual grants totaling $6,159,811. 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
2021
Describe the Organization's Mission:
Part 3 - Line 1
PROVIDE SUPPORT TO FURTHER THE EDUCATIONAL MISSION OF LAKE REGION STATE COLLEGE.
Describe the Organization's Program Activity:
Part 3 - Line 4a
GENERAL AND ATHLETIC SCHOLARSHIP SUPPORT AT THE LAKE REGION STATE COLLEGE
PUBLIC RELATIONS AND PUBLICATIONS AT THE LAKE REGION STATE COLLEGE
OTHER SPECIAL PROJECTS AT THE LAKE REGION STATE COLLEGE
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Stephanie Shock Treasurer | OfficerTrustee | 0.5 | $0 |
Kade Sveen Vice President | OfficerTrustee | 0.5 | $0 |
Dan Ness President | OfficerTrustee | 0.5 | $0 |
Kim Belzer Secretary | OfficerTrustee | 0.5 | $0 |
Corry Kenner Asst. Treasurer | Officer | 12 | $0 |
Elonda Nord Executive Director | Officer | 40 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Total Revenue from Contributions, Gifts, Grants & Similar | $997,001 |
| Investment income | $183,978 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $6,906 |
| Net Income from Fundraising Events | $10,261 |
| Net Income from Gaming Activities | $21,662 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $1,219,808 |
| 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 | $263,394 |
| 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 | $39,735 |
| Fees for services: Other | $0 |
| Advertising and promotion | $48,466 |
| 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 | $1,422,460 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $11,963 |
| Savings and temporary cash investments | $1,024,002 |
| Pledges and grants receivable | $294,191 |
| Accounts receivable, net | $7,499 |
| 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 | $0 |
| Investments—other securities | $12,229,901 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $13,641,556 |
| Accounts payable and accrued expenses | $46,530 |
| 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 | $0 |
| Total liabilities | $46,530 |
| 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 | $13,595,026 |
Grants Awarded
Over the last fiscal year, Lake Region Community College Foundation Of Devils Lake has awarded $981,794 in support to 3 organizations.
| Grant Recipient | Amount |
|---|---|
LAKE REGION STATE COLLEGE PURPOSE: SUPPORT VARIOUS SCHOOL PROGRAMS | $585,637 |
LAKE REGION STATE COLLEGE PURPOSE: USED BY THE COLLEGE TO PROVIDE SCHOLARSHIPS TO STUDENTS OF THE COLLEGE | $373,272 |
LAKE REGION STATE COLLEGE PURPOSE: SUPPORT PUBLICATIONS AND PROMOTIONS | $22,885 |
Grants Recieved
Over the last fiscal year, we have identified 6 grants that Lake Region Community College Foundation Of Devils Lake has recieved totaling $259,070.
| Awarding Organization | Amount |
|---|---|
Otto Bremer Trust St Paul, MN PURPOSE: NURSING APPRENTICESHIPS | $141,875 |
Chs Foundation Inver Grove Heights, MN PURPOSE: LAKE REGION STATE COLLEGE PRECISION AG AND CHS INNOVATIVE 40 | $67,875 |
Florence Lake Charitable Trust Grand Forks, ND PURPOSE: Qualified Charitable Programs | $29,666 |
Chs Foundation Inver Grove Heights, MN PURPOSE: 2021/22 UNIVERSITY PARTNER PROGRAM | $10,000 |
Robert E Roberts Charitable Remainder Annuity Trust Devils Lake, ND PURPOSE: GENERAL GRANT | $6,914 |
Edmund E Toutges Testamentary Tr 01612 Devils Lake, ND PURPOSE: GENERAL GRANT | $2,740 |
Endowment Analysis
| Beg. Balance | $9,937,142 |
| Earnings | $2,226,652 |
| Net Contributions | $428,473 |
| Other Expense | $46,445 |
| Grants | $257,212 |
| Ending Balance | $12,288,610 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Cankdeska Cikana Community College Fort Totten, ND | $31,882,184 | $15,734,265 |
Stone Child College Corporation Box Elder, MT | $29,956,469 | $23,823,922 |
Fort Peck Community College Poplar, MT | $31,220,828 | $12,977,905 |
Blackfeet Community College Browning, MT | $35,920,242 | $23,249,056 |
Aaniiih Nakoda College Inc Harlem, MT | $22,835,394 | $16,644,107 |
Chief Dull Knife College Lame Deer, MT | $10,203,377 | $5,281,885 |
Red Lake Nation College Red Lake, MN | $10,975,659 | $17,279,436 |
Lake Region Community College Foundation Of Devils Lake Devils Lake, ND | $13,641,556 | $1,219,808 |
Century College Foundation White Bear Lake, MN | $6,516,249 | $2,262,212 |
Fergus Area College Foundation Fergus Falls, MN | $6,608,917 | $750,954 |
Itasca Cmmunity College Foundation Grand Rapids, MN | $4,845,985 | -$301,295 |
Anoka Ramsey Community College Foundation Coon Rapids, MN | $1,794,581 | $625,023 |