2024-05-15T13:34:11-05:00 2023-06-30 410746749 CLIFTONLARSONALLEN LLP 8215 GREENWAY BOULEVARD SUITE 600 MIDDLETON WI 53562 990 2022-07-01 391655132 LAKELAND UNIVERSITY FOUNDATION INC LAKE 9205651000 W3718 SOUTH DRIVE PLYMOUTH WI 53073 ELIZABETH BORGEN LAKELAND UNIVERSITY PRESIDENT 9205651000 2024-05-14 1 ELIZABETH BORGEN 999009999 1 KIMBERLY ANDERSON CPA P00188889 6086628600 2024-05-14 3 AAL1 IAL1 2022 2023-04-26 12:10:37Z ELIZABETH BORGEN W3718 SOUTH DRIVE PLYMOUTH WI 53073 3452683 0 X WWW.LAKELAND.EDU X 1989 WI LAKELAND UNIVERSITY FOUNDATION INC SOLICITS DONATIONS ON BEHALF OF LAKELAND UNIVERSITY. 5 5 0 5 0 0 841162 1344004 0 0 7384594 166655 0 0 8225756 1510659 535873 2168365 0 0 0 0 0 0 0 44188 46311 580061 2214676 7645695 -704017 18815363 19879961 38005 32799 18777358 19847162 LAKELAND UNIVERSITY FOUNDATION INC SOLICITS DONATIONS ON BEHALF OF LAKELAND UNIVERSITY FOR FUNDS THAT ARE ENDOWED TO SUBSIDIZE SCHOLARSHIPS, PROFESSORSHIPS, AND OPERATIONS ISSUED/USED BY THE UNIVERSITY USING INVESTMENT INCOME. 0 0 2168365 2168365 0 SCHOLARSHIP PROGRAMS: LAKELAND UNIVERSITY ISSUED SCHOLARSHIPS TO STUDENTS ATTENDING LAKELAND UNIVERSITY DURING THE ACADEMIC YEAR. LAKELAND UNIVERSITY FOUNDATION PROVIDES FUNDING FOR THESE SCHOLARSHIPS BASED UPON FUNDS AVAILABLE. THE FOUNDATION ALSO PROVIDES FUNDING FOR PROFESSORSHIPS AND OPERATIONS. 2168365 1 1 0 0 0 0 0 0 0 1 0 0 0 0 1 1 0 1 0 0 0 0 0 0 0 0 0 1 0 1 0 0 0 0 0 0 0 0 0 0 0 0 0 1 0 0 0 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 X 5 5 0 0 0 0 0 0 0 1 0 0 0 1 1 1 1 0 1 0 0 0 X X ELIZABETH BORGEN 9205651000 W3718 SOUTH DR PLYMOUTH WI 53073 ROBERT MELZER PRESIDENT 1.00 0.00 X X 0 0 0 STUART BROTZ VICE-PRESIDENT 1.00 1.00 X X 0 0 0 KATHIE POWERS SECRETARY/TREASURER 1.00 1.00 X X 0 0 0 BARBARA GANNON DIRECTOR 1.00 0.00 X 0 0 0 BONNIE GRAFF DIRECTOR 1.00 1.00 X 0 0 0 ELIZABETH BORGEN UNIVERSITY PRESIDENT 1.00 50.00 X 0 201273 10914 0 201273 10914 0 0 1 0 0 1344004 1344004 265235 265235 1843444 1942024 -98580 -98580 -98580 1510659 0 0 166655 2168365 2168365 46311 46311 2214676 2168365 46311 0 250 481650 507520 866373 18307593 18531938 18815363 19879961 38005 32799 38005 32799 X 2963792 3129617 15813566 16717545 18777358 19847162 18815363 19879961 X -704017 1771623 2198 X 0 1 X 1 0 X 250308 198758 359286 841162 1344004 2993518 250308 198758 359286 841162 1344004 2993518 1336465 1657053 644710 552565 617632 415484 265235 2495626 5489144 0.30190 0.26060 X THE FOUNDATION DOES RECEIVE CONTRIBUTIONS FROM THE GENERAL PUBLIC. IN THE CURRENT AND PRECEDING 4 YEARS IT HAS RECEIVED $2,993,518 IN CONTRIBUTIONS AND ONLY $1,336,465 WAS CONSIDERED NOT FROM THE PUBLIC. THIS CALCULATES TO 45% OF THE CONTRIBUTIONS COMING FROM THE GENERAL PUBLIC. THE REASON THE FOUNDATION DOES NOT MAKE THE PUBLIC SUPPORT TEST IS DUE TO THE LARGE AMOUNT OF INVESTMENT INCOME THEY HAVE. THE LARGE INVESTMENT INCOME IS THE RESULT OF A LARGE ENDOWMENT MEANT TO SUSTAIN GIVING OUT SCHOLARSHIPS IN PERPETUITY. THE ENDOWMENT HAS BEEN GROWING FOR MANY YEARS AS A RESULT OF DONATIONS FROM THE GENERAL PUBLIC.THE ORGANIZATION IS WELL ABOVE 10% OF PUBLIC SUPPORT AND THEY HAVE AND WILL CONTINUE TO SOLICIT CONTRIBUTIONS FROM THE GENERAL PUBLIC. RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 18777358 1344004 1847854 2168365 46311 19754540 21415099 841163 -2900665 534051 44188 18777358 17508531 359286 3956407 348231 60894 21415099 17944616 198758 76346 654427 56762 17508531 17197267 250308 843684 393855 51788 17845616 0.15770 0.00000 0.84230 0 1 1 0 ANNUITY LIABILITY 32799 32799 X PART V, LINE 4: THE PURPOSE OF THE ENDOWMENT FUNDS IS TO SUBSIDIZE SCHOLARSHIPS, PROFESSORSHIPS, AND GENERAL OPERATIONS OF THE UNIVERSITY USING INVESTMENT INCOME TRANSFERRED TO LAKELAND UNIVERSITY ANNUALLY BY THE FOUNDATION. PART X, LINE 2: THE UNIVERSITY AND THE FOUNDATION ARE EXEMPT FROM FEDERAL AND STATE INCOME TAX UNDER SECTION 501(C)(3) OF THE INTERNAL REVENUE CODE AND SECTION 71.26(1)(A) OF THE WISCONSIN STATUTES, RESPECTIVELY. HOWEVER, THE UNIVERSITY IS SUBJECT TO INCOME TAXES ON ANY INCOME THAT IS DERIVED FROM A TRADE OF BUSINESS REGULARLY CARRIED ON AND NOT IN FURTHERANCE OF THE PURPOSES FOR WHICH IT WAS GRANTED EXEMPTION. NO INCOME TAX PROVISION HAS BEEN RECORDED AS NET INCOME, IF ANY, FROM UNRELATED TRADE OR BUSINESS IS INSIGNIFICANT. THE UNIVERSITY FOLLOWS THE ACCOUNTING STANDARDS FOR CONTINGENCIES IN EVALUATING UNCERTAIN TAX POSITIONS. THIS GUIDANCE PRESCRIBES RECOGNITION THRESHOLD PRINCIPLES FOR THE FINANCIAL STATEMENT RECOGNITION OF TAX POSITIONS TAKEN OR EXPECTED TO BE TAKEN ON A TAX RETURN THAT ARE NOT CERTAIN TO BE REALIZED. NO LIABILITY HAS BEEN RECOGNIZED BY THE UNIVERSITY FOR UNCERTAIN TAX POSITIONS AS OF JUNE 30, 2023 OR 2022. THE UNIVERSITY'S TAX RETURNS ARE SUBJECT TO REVIEW AND EXAMINATION BY FEDERAL AND STATE AUTHORITIES. 1 LAKELAND UNIVERSITY W3718 SOUTH DRIVE PLYMOUTH WI 53073 390821861 501(C)(3) 2168365 0 EDUCATIONAL PROGRAM FUNDING 1 0 PART I, LINE 2: FOUNDATION GRANTS ARE MADE TO THE UNIVERSITY WHERE A COMMITTEE DETERMINES THE INDIVIDUAL STUDENTS TO DISBURSE SCHOLARSHIPS TO. ALL SCHOLARSHIPS ARE DISBURSED DIRECTLY TO STUDENT ACCOUNTS, ACCORDING TO GOVERNMENT REGULATIONS, BY THE UNIVERSITY. 0 0 0 0 0 0 0 0 0 ELIZABETH BORGEN UNIVERSITY PRESIDENT 0 201273 0 0 0 0 0 6000 0 4914 0 212187 0 0 FORM 990, PART VI, SECTION A, LINE 8B THERE ARE NO COMMITTEES WITH THE AUTHORITY TTO ACT ON BEHALF OF THE GOVERNING BODY. FORM 990, PART VI, SECTION B, LINE 11B ALL MEMBERS OF THE BOARD OF TRUSTEES ARE PROVIDED WITH THE DRAFT OF THE 990 BEFORE FILING FOR REVIEW. FURTHER, THE 990 IS MADE AVAILABLE FOR ALL BOARD MEMBERS, PUBLISHED ON THE TRUSTEE PORTAL AND NOTIFICATIONS ARE SENT TO ALL TRUSTEES. FORM 990, PART VI, SECTION B, LINE 12C THE PRESIDENT AND VP FOR FINANCE & OPERATIONS REVIEW ALL CONFLICT OF INTEREST AGREEMENTS AND IDENTIFY ANY ITEMS THAT MAY BE OF CONCERN. IF A CONFLICT OCCURS, THE MEMBER IN CONFLICT WILL NOT VOTE ON THE MATTER, OR TO CALCUTE THE MAJORITY OF THE QUORUM NECESSARY TO CARRY THE VOTE. FORM 990, PART VI, SECTION C, LINE 19 THE FOUNDATION 990 AND OTHER POLICIES ARE AVAILABLE UPON REQUEST FROM THE PRESIDENT ON THE UNIVERSITY'S WEBSITE. FORM 990, PART XI, LINE 9: ADJUSTMENT FOR ACTUARIAL LIABILITY FOR ANNUITIES PAYABLE 2,198. LAKELAND UNIVERSITY W3718 SOUTH DRIVE SHEBOYGAN WI 53073 390821861 EDUCATION WI 501(C)(3) LINE 2 N/A 0 0 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0