2025-03-03T09:16:11-06:00 2024-06-30 410746749 CLIFTONLARSONALLEN LLP 4150 SECOND ST SO SUITE 400 ST CLOUD MN 56301 990 2023-07-01 237007111 CENTRAL LAKES COLLEGE FOUNDATION CENT 2188558129 501 WEST COLLEGE DRIVE BRAINERD MN 56401 JODI HYATT TREASURER 2188558129 2025-02-25 1 1 JASON R NEUMANN CPA P01690179 3202035500 2025-02-25 2023 2025-03-06 01:10:19Z JONATHAN AGA 501 WEST COLLEGE DRIVE BRAINERD MN 56401 4036486 0 X HTTP://WWW.CLCMN.EDU/SCHOLARSHIPS/ X 1968 MN THE ORGANIZATION PROVIDES SCHOLARSHIPS AND HOUSING TO STUDENTS ATTENDING CENTRAL LAKES COLLEGE. 14 14 0 50 0 0 2117324 2092038 580293 596417 -45503 291668 341 22077 2652455 3002200 1944667 1749425 0 0 342971 318756 0 0 33668 466500 528385 2754138 2596566 -101683 405634 12795464 14403531 1311635 1497383 11483829 12906148 THE ORGANIZATION PROVIDES SCHOLARSHIPS AND HOUSING TO STUDENTS ATTENDING CENTRAL LAKES COLLEGE. 0 0 1296934 1145075 DONATIONS INCLUDING IN-KIND FOR PROJECTS AND PROGRAMS PAID FOR ON BEHALF OF CENTRAL LAKES COLLEGE TO ENHANCE STUDENT AND COMMUNITY LEARNING EXPERIENCES. 604350 604350 SCHOLARSHIPS AWARDED TO STUDENTS ATTENDING CENTRAL LAKES COLLEGE ENROLLED IN SIX OR MORE CREDITS FALL AND SPRING SEMESTER. 476782 596417 STUDENT HOUSING PROVIDED TO STUDENTS ENROLLED AT CENTRAL LAKES COLLEGE. 2378066 1 1 0 0 0 0 0 1 0 1 1 0 0 0 1 1 0 1 0 0 0 0 0 0 1 1 0 1 0 0 0 0 0 0 0 0 0 0 1 0 0 0 0 0 0 0 0 1 0 0 1 0 0 0 0 0 0 0 0 0 0 1 0 0 0 X 14 14 0 0 0 0 0 0 0 1 1 0 0 1 1 1 1 0 1 1 1 0 MN X JON AGA 2188558129 501 WEST COLLEGE DRIVE BRAINERD MN 56401 KATE ADORNETTO FORMER EXECUTIVE DIRECTOR 40.00 X 0 97189 35706 JON AGA EXECUTIVE DIRECTOR 40.00 X 0 0 0 BRAD CHAPULIS PRESIDENT 2.00 X X 0 0 0 MIKE BJERKNESS 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 JIM BENSON PAST PRESIDENT 1.00 X 0 0 0 HARA CHARLIER EX-OFFICIO 1.00 X 0 0 0 NATHAN HAMILTON PAST PRESIDENT 1.00 X 0 0 0 JENNIFER BERGMAN DIRECTOR 1.00 X 0 0 0 MERRICK DRESNIN THRU 1123 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 ROBB KOLODZIEJ DIRECTOR 1.00 X 0 0 0 JOHN OHLIN DIRECTOR 1.00 X 0 0 0 BRAD PERSON THRU 1123 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 0 97189 35706 1 0 0 0 0 9222 2082816 1152935 2092038 NET RENTAL REVENUE 531110 553671 553671 RESERVATION FEES 531110 23000 23000 TENANT CHARGES 531110 14769 14769 LAUNDRY AND VENDING 531110 4977 4977 596417 247859 247859 1044640 1000831 43809 43809 43809 8838 9222 4261 4577 4577 46694 29194 17500 17500 3002200 596417 0 313745 1749425 1749425 139736 69869 62880 6987 133163 106490 14298 12375 4126 2476 1032 618 26159 16250 6193 3716 15572 11095 3523 954 58602 58602 53978 36682 17296 48923 48923 12514 3148 348 9018 4743 3580 1163 23217 14617 8600 102196 102196 41 41 37234 37234 77813 77813 20114 19681 433 MISC EXPENSE 30751 10751 20000 REPAIRS AND MAINTENANCE 29575 29575 BAD DEBT EXPENSE 27292 27292 LICENSES AND DUES 1392 1290 102 2596566 2378066 184832 33668 13965 17468 645480 621813 28809 38542 20585 2935207 514861 2460511 2420346 9605651 11245585 41048 39192 12795464 14403531 24560 34305 2033 255050 1245535 1169612 39507 38416 1311635 1497383 X 1345179 1484149 10138650 11421999 11483829 12906148 12795464 14403531 405634 1016685 0 X 0 1 X 1 0 X 1205228 1889068 1591634 2117324 2092038 8895292 1205228 1889068 1591634 2117324 2092038 8895292 1390740 7504552 722172 631876 345876 293417 247859 2241200 -15067 9044 341 55532 49850 11186342 0.67090 0.62970 X SCHEDULE A, PART II, LINE 10, EXPLANATION OF OTHER INCOME: ANNUAL EVENT - 2019 AMOUNT: $ -15,067. GAMING - 2021 AMOUNT: $ 9,044. 2022 AMOUNT: $ 341. 2023 AMOUNT: $ 55,532. RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED X X 0 9587920 473580 1247792 280897 11028395 8751820 117372 953484 234756 9587920 10364736 252312 -1497190 368038 8751820 8253403 436868 1957626 283161 10364736 8066723 166749 342600 322669 8253403 0.03980 0.74296 0.21720 0 0 363400 363400 2484492 455740 2028752 87315 59121 28194 2420346 ANNUITY PAYABLE 38416 38416 X 4121533 1016685 147310 1163995 2957538 48923 -4261 44662 3002200 2699214 147310 4261 151571 2547643 48923 48923 2596566 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 -4,261. PART XII, LINE 2D - OTHER ADJUSTMENTS: FUNDRAISING EXPENSES 4,261. HATS OFF 18060 9222 8838 4261 18060 9222 8838 4261 4261 4577 46694 13998 798 14398 0 46694 13998 798 14398 29194 17500 MN 1 0 1 0 0.75000 0.25000 KATE ADORNETTOJONATHAN AGA 501 WEST COLLEGE DRIVE BRAINERD MN 56401 0 KATE ADORNETTO JONATHAN AGA CONDUCTED GAMING RAFFLES THROUGHOUT THE YEAR. X 0 1 CENTRAL LAKES COLLEGE 501 WEST COLLEGE DRIVE BRAINERD MN 56401 411687554 845993 903432 VARIOUS SEE SCHEDULE M ASSISTANCE TO CENTRAL LAKES COLLEGE AND STUDENT SCHOLARSHIPS PART I, LINE 2: GRANTS AND SCHOLARSHIPS ARE AWARDED TO CENTRAL LAKES COLLEGE PROGRAMS AND STUDENTS BASED UPON ELIGIBILITY CRITERIA SET FORTH BY THE SPECIFIC ENDOWED OR TEMPORARY FUND. X 4 962 FAIR MARKET VALUE X EQUIPMENT 70 837841 FAIR MARKET VALUE X SEED 12 53860 FAIR MARKET VALUE X OTHER 7 6655 FAIR MARKET VALUE X SCRAP METAL 1 4114 EXPERT OPINION 0 0 1 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 2024. FORM 990, PART VI, SECTION C, LINE 19 THE ORGANIZATION MAKES ITS GOVERNANCE DOCUMENTS AND FINANCIAL STATEMENTS AVAILABLE TO THE PUBLIC UPON REQUEST.