2024-04-22T16:57:51-05:00 2023-06-30 410746749 CLIFTONLARSONALLEN LLP 818 SECOND STREET SOUTH SUITE 320 WAITE PARK MN 56387 990 2022-07-01 237007111 CENTRAL LAKES COLLEGE FOUNDATION CENT 2188558129 501 WEST COLLEGE DRIVE BRAINERD MN 56401 LISA WIGAND TREASURER 2188558129 2024-04-19 1 LISA WIGAND 999009999 1 JASON R NEUMANN CPA P01690179 3202035500 2024-04-05 2 AAL1 IAL1 2022 2023-04-26 12:10:37Z KATE ADORNETTO 523 N 3RD ST BRAINERD MN 56401 13866506 0 X HTTP://WWW.CLCMN.EDU/SCHOLARSHIPS/ X 1968 MN THE ORGANIZATION PROVIDES SCHOLARSHIPS AND HOUSING TO STUDENTS ATTENDING CENTRAL LAKES COLLEGE. 15 15 0 50 0 0 1591634 2117324 569330 580293 1018434 -45503 9044 341 3188442 2652455 1081781 1944667 0 0 336382 342971 0 0 30922 498567 466500 1916730 2754138 1271712 -101683 11958499 12795464 1394871 1311635 10563628 11483829 THE ORGANIZATION PROVIDES SCHOLARSHIPS AND HOUSING TO STUDENTS ATTENDING CENTRAL LAKES COLLEGE 0 0 1515646 1353019 DONATIONS INCLUDING IN-KIND FOR PROJECTS AND PROGRAMS PAID FOR ON BEHALF OF CENTRAL LAKES COLLEGE TO ENHANCE STUDENT AND COMMUNITY LEARNING EXPERIENCES 591648 591648 SCHOLARSHIPS GRANTED TO STUDENTS ATTENDING CENTRAL LAKES COLLEGE 444408 0 580293 STUDENT HOUSING PROVIDED TO STUDENTS ENROLLED AT CENTRAL LAKES COLLEGE 2551702 1 1 0 0 0 0 0 1 0 1 1 0 0 0 1 1 0 1 0 0 0 0 0 0 0 1 0 1 0 0 0 0 0 0 0 0 0 0 1 0 0 0 0 1 0 0 0 1 0 0 0 0 0 0 0 0 0 0 0 0 1 0 0 0 X 15 15 0 0 0 0 0 0 0 1 1 0 0 1 1 1 1 0 1 1 1 0 MN X AMY MATTER-HINES 2188558129 501 WEST COLLEGE DRIVE BRAINERD MN 56401 JIM BENSON PRESIDENT 2.00 X X 0 0 0 BRAD CHAPULIS VICE PRESIDENT 2.00 X X 0 0 0 LISA WIGAND TREASURER 2.00 X X 0 0 0 BARBARA ANDERSON SECRETARY 2.00 X X 0 0 0 NATHAN HAMILTON PAST CHAIR 1.00 X 0 0 0 HARA CHARLIER EX-OFFICIO 1.00 X 0 0 0 MIKE BJERKNESS DIRECTOR 1.00 X 0 0 0 BETH GRUBER DIRECTOR 1.00 X 0 0 0 KATIE HEPPNER DIRECTOR 1.00 X 0 0 0 MERRICK DRESNIN DIRECTOR 1.00 X 0 0 0 ROBB KOLODZIEJ DIRECTOR 1.00 X 0 0 0 JOHN OHLIN DIRECTOR 1.00 X 0 0 0 BRAD PERSON DIRECTOR 1.00 X 0 0 0 MATT SUNDQUIST DIRECTOR 1.00 X 0 0 0 STEVE WENZEL DIRECTOR 1.00 X 0 0 0 VAL KNUDSEN THRU 1122 DIRECTOR 1.00 X 0 0 0 KATE ADORNETTO EXECUTIVE DIRECTOR 40.00 X 0 92555 29553 0 92555 29553 0 0 0 0 0 2117324 1293343 2117324 NET RENTAL REVENUE 531110 533461 533461 RESERVATION FEES 531110 26750 26750 TENANT CHARGES 531110 16180 16180 LAUNDRY AND VENDING 531110 3902 3902 580293 293417 293417 10850256 11189176 -338920 -338920 -338920 5353 19842 -14489 -14489 19863 5033 14830 14830 2652455 580293 0 -45162 1944667 1944667 126883 63442 57097 6344 202660 143416 40928 18316 1164 1164 12264 8746 3166 352 57878 57878 23720 8446 15274 22897 22897 9460 3169 381 5910 4470 2770 1700 21065 13309 7756 109871 109871 1731 1731 41309 41309 76044 76044 15172 14739 433 REPAIRS AND MAINTENANCE 39990 39990 MISCELLANEOUS 25060 5059 20001 BAD DEBTS 16647 16647 LICENSES AND DUES 1186 1036 150 2754138 2551702 171514 30922 67173 13965 753459 645480 19160 28809 14045 0 2897559 437048 2494331 2460511 8564008 9605651 46323 41048 11958499 12795464 30158 24560 1040 2033 1318841 1245535 44832 39507 1394871 1311635 X 1244070 1345179 9319558 10138650 10563628 11483829 11958499 12795464 -101683 1021884 0 X 0 1 X 1 0 X 1036310 1205228 1889068 1591634 2117324 7839564 1036310 1205228 1889068 1591634 2117324 7839564 1219320 6620244 666167 722172 631876 345876 293417 2659508 20427 -15067 9044 341 14745 10513817 0.62970 0.61040 X SCHEDULE A, PART II, LINE 10, EXPLANATION OF OTHER INCOME: ANNUAL EVENT - 2018 AMOUNT: $ 20,427. 2019 AMOUNT: $ -15,067. GAMING - 2021 AMOUNT: $ 9,044. 2022 AMOUNT: $ 341. RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED X X 0 8751820 117372 953484 234756 9587920 10364736 252312 -1497190 368038 8751820 8253403 436868 1957626 283161 10364736 8066723 166749 342600 322669 8253403 6924540 158187 7082727 0.04084 0.80518 0.15398 0 0 363400 363400 2459134 385544 2073590 75025 51504 23521 2460511 ANNUITY PAYABLE 39507 39507 X 3788529 1021884 112212 1134096 2654433 22897 -24875 -1978 2652455 2868328 112212 24875 137087 2731241 22897 22897 2754138 PART III, LINE 1A: THE FOUNDATION OWNS A NATIVE-AMERICAN ART COLLECTION WHICH WAS RECEIVED FROM A DONOR WITH THE INTENT THAT THE COLLECTION BE DISPLAYED IN THE CENTRAL LAKES COLLEGE LIBRARY FOR EDUCATIONAL AND CULTURAL PURPOSES. THE FOUNDATION HAS APPROVED THE COLLECTION BEING "PERMANENTLY ON LOAN" TO CENTRAL LAKES COLLEGE. THE COLLEGE IS RESPONSIBLE FOR MAINTAINING AND DISPLAYING THE COLLECTION IN ACCORDANCE WITH THE DONOR'S DESIRES. PART V, LINE 4: INVESTMENT EARNINGS FROM ENDOWMENT FUNDS ARE USED TO PROVIDE SCHOLARSHIPS TO STUDENTS ATTENDING CENTRAL LAKES COLLEGE PART X, LINE 2: THE FOUNDATION QUALIFIES AS A TAX-EXEMPT ORGANIZATION UNDER SECTION 501(C)(3) OF THE INTERNAL REVENUE CODE. THEREFORE, NO EXPENSE HAS BEEN RECOGNIZED FOR INCOME TAXES IN THE ACCOMPANYING CONSOLIDATED FINANCIAL STATEMENTS. THE FOUNDATION IS NOT A PRIVATE FOUNDATION AND CONTRIBUTIONS TO THE FOUNDATION QUALIFY AS CHARITABLE DEDUCTIONS BY THE CONTRIBUTOR. THE FOUNDATION FILES AS A TAX-EXEMPT ORGANIZATION. SHOULD THAT STATUS BE CHALLENGED IN FUTURE PERIODS, ALL YEARS SINCE INCEPTION WOULD BE SUBJECT TO REVIEW BY THE INTERNAL REVENUE SERVICE. PART XI, LINE 4B - OTHER ADJUSTMENTS: FUNDRAISER EXPENSES -24,875. PART XII, LINE 2D - OTHER ADJUSTMENTS: FUNDRAISING EXPENSES 24,875. 19863 5033 0 19863 5033 5033 14830 MN 1 0 1 0 0.75000 0.25000 KATE ADORNETTO 501 WEST COLLEGE DR BRAINERD MN 56401 0 KATE ADORNETTO CONDUCTED GAMING RAFFLES THROUGHOUT THE YEAR. X 0 0 CENTRAL LAKES COLLEGE 501 WEST COLLEGE DRIVE BRAINERD MN 56401 411687554 926258 1018409 VARIOUS SEE SCHEDULE M ASSISTANCE TO CENTRAL LAKES COLLEGE AND STUDENT SCHOLARSHIPS 1 X EQUIPMENT 32 843809 FAIR MARKET VALUE X SEED 2 158445 FAIR MARKET VALUE X SCRAP METAL 21 121398 EXPERT OPINION X OTHER VINTAGE 20 19583 FAIR MARKET VALUE 0 0 0 0 PART I, COLUMN (B): COLUMN B IS NUMBER OF CONTRIBUTIONS. FORM 990, PART VI, SECTION B, LINE 11B THE TREASURER OF THE ORGANIZATION REVIEWS THE FORM 990 WITH THE FINANCE COMMITTEE AND MAKES A COPY OF THE FORM 990 AVAILABLE TO THE BOARD OF DIRECTORS AND TO THE PUBLIC UPON REQUEST FORM 990, PART VI, SECTION B, LINE 12C MONITORING OF COMPLIANCE WITH THE CONFLICT OF INTEREST POLICIES IS DONE ON AN ANNUAL BASIS. FORM 990, PART VI, SECTION B, LINE 15 ANNUAL SALARY ADJUSTMENTS ARE DETERMINED BY THE STATE OF MINNESOTA WHEREUPON THE PRESIDENT OF CENTRAL LAKES COLLEGE IS RESPONSIBLE FOR DETERMINING ANY ADJUSTMENTS TO COMPENSATION FOR THE EXECUTIVE DIRECTOR AND FOUNDATION EMPLOYEES PER THEIR CONTRACTS ON A YEARLY BASIS. THE PROCESS DESCRIBED HERE WAS LAST COMPLETED IN 2023. FORM 990, PART VI, SECTION C, LINE 19 THE ORGANIZATION MAKES ITS GOVERNANCE DOCUMENTS AND FINANCIAL STATEMENTS AVAILABLE TO THE PUBLIC UPON REQUEST CENTRAL LAKES COLLEGE 501 W COLLEGE DR BRAINERD MN 56401 411687554 SCHOOL MN N/A N/A N/A 0 0 1 1 0 0 0 0 0 0 0 0 0 0 1 1 1 1 0 0