Nonprofit · EIN 36-3860861
LAKE AREA TECHNICAL COLLEGE FOUNDATION
Tax-exempt · WATERTOWN, SD 57201
Financials
| Year ended | Form | Revenue | Expenses | Net income | Total assets | Liabilities | Net assets |
|---|---|---|---|---|---|---|---|
| June 30, 2025 | 990 | $4,482,976 | $6,547,124 | -$2,064,148 | $11,362,110 | $448,007 | $10,914,103 |
| June 30, 2024 | 990 | $1,966,843 | $15,960,531 | -$13,993,688 | $13,259,717 | $621,564 | $12,638,153 |
| June 30, 2023 | 990 | $4,573,461 | $7,672,708 | -$3,099,247 | $26,277,320 | $829,899 | $25,447,421 |
Financial details: 990 for the year ended June 30, 2025
Revenue
- Contributions, gifts and grants
- $3,977,817
- Program service revenue
- $0
- Investment income
- $307,178
- Net gain from sales of assets
- $11,880
- Net income from fundraising events
- $91,856
- Other revenue
- $197,981
Expenses
- Grants and similar amounts paid
- $6,176,966
- Other salaries and wages
- $186,117
- Salaries, compensation and benefits (total)
- $186,117
- Professional fundraising fees
- $0
- Accounting fees
- $28,386
- Program services (functional)
- $6,309,595
- Management and general (functional)
- $104,148
- Fundraising (functional)
- $133,381
Balance sheet and other
- Total assets, start of year
- $13,259,717
- Total assets, end of year
- $11,362,110
- Total liabilities, end of year
- $448,007
- Net assets, end of year
- $10,914,103
- Publicly traded securities
- $6,793,256
- Net assets without donor restrictions
- $1,058,633
- Net assets with donor restrictions
- $9,855,470
- Gross receipts
- $4,993,625
- Employees
- 0
- Volunteers
- 25
- Year formed
- 1992
- State of legal domicile
- SD
From the e-filed returns the IRS publishes as XML (latest three processing years; amended returns replace the original). PDF copies at the IRS.
Officers, directors and key employees
As listed on the 990 for the year ended June 30, 2025, highest compensation first.
| Name | Title | Hours / week | Compensation |
|---|---|---|---|
| DAN BRENDEN | BOARD MEMBER Trustee or director | 1 | $0 |
| KASEY CHAPIN | BOARD MEMBER Trustee or director | 1 | $0 |
| NATALIE GAUER | BOARD MEMBER Trustee or director | 1 | $0 |
| JOSH HANSON | BOARD MEMBER Trustee or director | 1 | $0 |
| BARB KLEINJAN | BOARD MEMBER Trustee or director | 1 | $0 |
| BRIG SCHILLING | BOARD MEMBER Trustee or director | 1 | $0 |
| DONNA SCHOENBECK | BOARD MEMBER Trustee or director | 1 | $0 |
| LEAH STELLEY | BOARD MEMBER Trustee or director | 1 | $0 |
| SHELLY TURBAK | BOARD MEMBER Trustee or director | 1 | $0 |
| TIM WALTER | BOARD MEMBER Trustee or director | 1 | $0 |
| JORDAN WOLLSCHLAGER | BOARD MEMBER Trustee or director | 1 | $0 |
| TIFFANY SANDERSON | EX-OFFICIO MEMBER Trustee or director | 1 | $0 |
| CAM COREY | EX-OFFICIO MEMBER Trustee or director | 1 | $0 |
| JESSI EIDSON | EX-OFFICIO MEMBER Trustee or director | 20 | $0 |
| SCOTT CARBONNEAU | EX-OFFICIO MEMBER Trustee or director | 1 | $0 |
5 more people on this return
| Name | Title | Hours / week | Compensation |
|---|---|---|---|
| BRITTANY ROST | EX-OFFICIO MEMBER Trustee or director | 20 | $0 |
| STUART STEIN | EX-OFFICIO MEMBER Trustee or director | 1 | $0 |
| SCOTT WEELDRYER | EX-OFFICIO MEMBER Trustee or director | 1 | $0 |
| TRACY BUISKER | EXECUTIVE DIRECTOR Officer | 20 | $0 |
| JAY BOOMSMA | PRESIDENT Officer | 1 | $0 |
990 for the year ended June 30, 2024: 20 people
| Name | Title | Hours / week | Compensation |
|---|---|---|---|
| TIFFANY SANDERSON | EX-OFFICIO MEMBER Trustee or director | 1 | $0 |
| CAM COREY | EX-OFFICIO MEMBER Trustee or director | 1 | $0 |
| JORDAN WOLLSCHLAGER | BOARD MEMBER Trustee or director | 1 | $0 |
| SHELLY TURBAK | BOARD MEMBER Trustee or director | 1 | $0 |
| TIM WALTER | BOARD MEMBER Trustee or director | 1 | $0 |
| STUART STEIN | EX-OFFICIO MEMBER Trustee or director | 1 | $0 |
| SCOTT WEELDRYER | EX-OFFICIO MEMBER Trustee or director | 1 | $0 |
| BRITTANY ROST | EX-OFFICIO MEMBER Trustee or director | 20 | $0 |
| JESSI EIDSON | EX-OFFICIO MEMBER Trustee or director | 20 | $0 |
| SCOTT CARBONNEAU | EX-OFFICIO MEMBER Trustee or director | 1 | $0 |
| NATALIE GAUER | BOARD MEMBER Trustee or director | 1 | $0 |
| JOSH HANSON | BOARD MEMBER Trustee or director | 1 | $0 |
| DAN BRENDEN | BOARD MEMBER Trustee or director | 1 | $0 |
| KASEY CHAPIN | BOARD MEMBER Trustee or director | 1 | $0 |
| DONNA SCHOENBECK | BOARD MEMBER Trustee or director | 1 | $0 |
| LEAH STELLEY | BOARD MEMBER Trustee or director | 1 | $0 |
| BARB KLEINJAN | BOARD MEMBER Trustee or director | 1 | $0 |
| BRIG SCHILLING | BOARD MEMBER Trustee or director | 1 | $0 |
| TRACY BUISKER | EXECUTIVE DIRECTOR Officer | 20 | $0 |
| JAY BOOMSMA | PRESIDENT Officer | 1 | $0 |
990 for the year ended June 30, 2023: 19 people
| Name | Title | Hours / week | Compensation |
|---|---|---|---|
| TIM WALTER | PRESIDENT Trustee or director, Officer | – | $0 |
| JAY BOOMSMA | BOARD MEMBER Trustee or director | – | $0 |
| DAN BRENDEN | BOARD MEMBER Trustee or director | – | $0 |
| KASEY CHAPIN | BOARD MEMBER Trustee or director | – | $0 |
| NATALIE GAUER | BOARD MEMBER Trustee or director | – | $0 |
| JOSH HANSON | BOARD MEMBER Trustee or director | – | $0 |
| BARB KLEINJAN | BOARD MEMBER Trustee or director | – | $0 |
| BRIG SCHILLING | BOARD MEMBER Trustee or director | – | $0 |
| DONNA SCHOENBECK | BOARD MEMBER Trustee or director | – | $0 |
| LEAH STELLEY | BOARD MEMBER Trustee or director | – | $0 |
| SHELLY TURBAK | BOARD MEMBER Trustee or director | – | $0 |
| JORDAN WOLLSCHLAGER | BOARD MEMBER Trustee or director | – | $0 |
| TRACY BUISKER | EXECUTIVE DI Officer | – | $0 |
| SCOTT CARBONNEAU | EX-OFFICIO M Trustee or director | – | $0 |
| CAM COREY | EX-OFFICIO M Trustee or director | – | $0 |
| JESSI EIDSON | EX-OFFICIO M Trustee or director | – | $0 |
| BRITTANY ROST | EX-OFFICIO M Trustee or director | – | $0 |
| TIFFANY SANDERSON | EX-OFFICIO M Trustee or director | – | $0 |
| STUART STEIN | EX-OFFICIO M Trustee or director | – | $0 |
Address and contacts
- Address (IRS master file)
- 1201 ARROW AVE NE, WATERTOWN, SD 57201-2959
- In care of
- % TRACY BUISKER
- Signed the 990
- TRACY BUISKER, EXECUTIVE DIRECTOR
- Phone
- (605) 882-5284
- Return prepared by
- LEDGERS INC
Mission
THE ORGANIZATIONS PRIMARY PURPOSE IS TO BUILD A BETTER LAKE AREA TECHNICAL COLLEGE.
Program accomplishments
- FUNDING FOR LATC CAMPUS IMPROVEMENTSExpenses $3,209,763
- AWARDING SCHOLARSHIPS TO LATC STUDENTSExpenses $2,470,652
- FUNDING FOR LATC PROGRAM ENHANCEMENTSExpenses $629,180
What it must file and when
IRS records say it files Form 990 or 990-EZ. Based on its last return; a smaller organization may file the 990-N. Its accounting year ends in June, so each return is due on the 15th day of the 5th month after that.
| Tax year | Year ended | Due | IRS public records |
|---|---|---|---|
| 2025 | June 30, 2026 | November 16, 2026 | Not due yet |
| 2024 | June 30, 2025 | November 17, 2025 | 990 on file |
| 2023 | June 30, 2024 | November 15, 2024 | 990 on file |
IRS record
- EIN
- 36-3860861
- Tax-exempt status
- 501(c)(3): Charitable, religious, educational or scientific organization
- Foundation status
- Publicly supported organization (170(b)(1)(A)(vi))
- Donations deductible (Pub 78)
- Public charity, 50% deduction limit
- Exempt since
- 1993
- Accounting year ends
- June
- Files
- Form 990 or 990-EZ
- Category (NTEE)
- Education (B82)
- Assets (IRS master file)
- $11,362,110
- Income (IRS master file)
- $4,993,625
Filing history
| Form | Year ended | Revenue | Expenses | Assets | Return |
|---|---|---|---|---|---|
| 990 | June 2025 | $4,482,976 | $6,547,124 | $11,362,110 | XML |
| 990 | June 2024 | $1,966,843 | $15,960,531 | $13,259,717 | XML |
| 990 | June 2023 | $4,573,461 | $7,672,708 | $26,277,320 | XML |
| 990 | June 2022 | – | – | – | IRS |
| 990 | June 2021 | – | – | – | IRS |
| 990 | June 2020 | – | – | – | IRS |
| 990 | June 2019 | – | – | – | IRS |
990-N: the IRS bulk file holds only the latest e-Postcard per organization; earlier years come from archived copies of that file since 2020 and can have gaps (the IRS e-Postcard search lists every one). 990, 990-EZ, 990-PF, 990-T: every e-filed return in the IRS e-file index since 2019; XML for the latest three processing years, amounts from the IRS Statistics of Income extracts before that. PDF copies and determination letters at the IRS (search EIN 36-3860861).
Questions about LAKE AREA TECHNICAL COLLEGE FOUNDATION
- What is the EIN of LAKE AREA TECHNICAL COLLEGE FOUNDATION?
- The employer identification number (EIN) of LAKE AREA TECHNICAL COLLEGE FOUNDATION is 36-3860861.
- Is LAKE AREA TECHNICAL COLLEGE FOUNDATION tax-exempt?
- Yes. The IRS lists it as tax-exempt under section 501(c)(3) since 1993.
- Are donations to LAKE AREA TECHNICAL COLLEGE FOUNDATION tax-deductible?
- Yes. It is listed in IRS Publication 78 (Public charity, 50% deduction limit).
- Which annual return does LAKE AREA TECHNICAL COLLEGE FOUNDATION file?
- Form 990 or 990-EZ. Based on its last return; a smaller organization may file the 990-N.
- When is the next return of LAKE AREA TECHNICAL COLLEGE FOUNDATION due?
- The return for tax year 2025 (the year ending June 30, 2026) is due November 16, 2026. Form 8868 extends it by six months; the 990-N cannot be extended.
- When did LAKE AREA TECHNICAL COLLEGE FOUNDATION last file with the IRS?
- The latest return in the IRS public files is the 990 for the year ended June 2025.
- Who are the officers and directors of LAKE AREA TECHNICAL COLLEGE FOUNDATION?
- The 990 for the year ended June 30, 2025 lists 20 people; 0 received compensation from the organization.
- How much revenue does LAKE AREA TECHNICAL COLLEGE FOUNDATION have?
- On its 990 for the year ended June 30, 2025 it reported revenue of $4,482,976, expenses of $6,547,124 and total assets of $11,362,110 at year end.
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