Lake Region Community College Foundation of Devils Lake

Nonprofit profile at a glance

EIN
510242987
IRS 990 coverage
2009–2024
Forms available
Form 990 2024
Location
Devils Lake, ND, USA
Phone
7016621505
Rating
86
Verdict
STRONG
Rating confidence
Moderate
Sector
Community or Junior Colleges

Reported finances

Revenue
$1,467,948
Expenses
$1,004,022
Assets
$16,829,407
Liabilities
$44,789

Source: IRS Form 990. Selected filing: tax year 2024. Amounts in USD.

Leadership & pay

31 people listed

Executive titles in this filing

  • KRISTIN JOHNSON (PRESIDENT)
  • TOM HAAHR (VICE PRESIDENT)
  • ELONDA NORD (EXECUTIVE DIRECTOR (ENDED 7/24))
  • ERIN WOOD (EXECUTIVE DIRECTOR)

Highest reported compensation

  • ERIN WOOD (EXECUTIVE DIRECTOR): $147,174 total reported compensation
  • ELONDA NORD (EXECUTIVE DIRECTOR (ENDED 7/24)): $47,003 total reported compensation

Source: IRS Form 990. Selected filing: tax year 2024. Names and roles reflect this filing, not necessarily current officeholders.

Overview

Mission

Provide support to further the educational mission of lake region state college.

What it reported doing in 2024

General and athletic scholarship support at the lake region state college

Operating model

Revenue model
Mixed. Its operating money came from several sources; no one source provided a clear majority.
Distribution model
Grant intermediary. The nonprofit sent 99% of its reported program spending out as grants.

The verdict

STRONG - A large share of available resources goes toward mission work and the filed numbers largely add up. Some filing-based governance responses are negative or unanswered and reported officer compensation is a large share of total spending, which may reflect staffing concentration.

Rating breakdown

  • Financial Efficiency: 76
  • Transparency & Controls: 94
  • Accountability: 90
  • Sustainability: 84
  • Growth: 100

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 72.2%; rating input score 72
  • Program expense ratio: 81.8%; rating input score 82
  • Fundraising efficiency: $46.77 raised per $1 spent on fundraising; rating input score 77; 77th percentile among comparable filings

Transparency & Controls

  • Consistency checks: 100%; rating input score 100; 63rd percentile among comparable filings
  • Pay-setting controls: Limited
  • Foreign activity oversight: Limited
  • Grant itemization coverage: 100%; rating input score 100; 76th percentile among comparable filings
  • Major donor itemization: Yes; rating input score 100
  • Related-party transparency: Limited

Accountability

  • Independent voting board: 100%; rating input score 100; 63rd percentile among comparable filings
  • Governance controls: 6 of 8 controls in place; rating input score 75
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Fail
    • Document-retention policy: Pass
    • CEO compensation review process: Fail
    • Other executive compensation review process: NotApplicable
    • Form 990 shared with the board: Pass
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Pass
    • Independent financial-statement audit: Pass

Sustainability

  • Operating margin: 31.6%; rating input score 85; 85th percentile among comparable filings
  • Total-asset coverage ratio: 16.76; rating input score 95; 95th percentile among comparable filings
  • Liabilities to assets ratio: 0; rating input score 77; 77th percentile among comparable filings
  • Officer compensation ratio: 3.7%; rating input score 56; 56th percentile among comparable filings

Growth

  • Program expense growth: 2.3% per year; rating input score 100; 28th percentile among comparable filings
  • Revenue growth: 3.7% per year; rating input score 100; 35th percentile among comparable filings
  • Asset growth: 8.4% per year; rating input score 100; 53rd percentile among comparable filings

Details

  • Where the money goes: 72.2% of revenue deployed · 81.8% of spending went to programs
  • Governance: 21 of 21 board members independent · 6 of 8 filing controls reported
  • Programs: 2 filed program accomplishments · $821K in reported program spending
  • Leadership: top reported pay $147K · 31 people listed
  • Consistency: 27 of 27 current checks pass
  • Schedules: 8 filed schedules · includes major donors and grants
  • Filing history: 16 filing years from 2009 to 2024
  • Contacts: How to reach this organization
  • Money network: 2 filed money-flow records
  • Related organizations: 3 filed related-organization links
  • Grant readiness: Federal tax and exclusion status, award history, and grant-maker relationships.
  • People: Everyone the filings name, and which of them the filings identify by more than a name.

Key Signals

Signals prioritize questions for review. They are not findings of misconduct.

  • Review — Accountability: Governance controls: 2 of 8 not reported.
  • Review — Sustainability: Officer compensation ratio scored 56/100.