Lancaster Endowment Fund School Associat

Nonprofit profile at a glance

EIN
320744204
IRS 990 coverage
2024–2025
Forms available
Form 990 2025, Form 990-N 2023
Location
Lancaster, MN, USA
Phone
2187625400
Rating
63
Verdict
SUPPORTED
Rating confidence
Moderate
Sector
Single Organization Support

Official website

Reported finances

Revenue
$52,633
Expenses
$5,615
Assets
$294,537
Liabilities
$0

Source: IRS Form 990. Selected filing: tax year 2025. Amounts in USD.

Leadership & pay

9 people listed

Executive titles in this filing

  • NICOLE THOMPSON (PRESIDENT)
  • CLIFFORD PETERSON (VICE PRESIDENT)

People named in this filing

  • JESSE STREGE (DIRECTOR)
  • JUSTIN PETERSON (DIRECTOR)
  • JULIE PETERSON (DIRECTOR)

Selected names, not a complete roster or a statement of current roles. Open leadership details for the complete filed list.

Source: IRS Form 990. Selected filing: tax year 2025. Names and roles reflect this filing, not necessarily current officeholders.

Overview

Mission

To provide an ongoing source of additional non-taxpayer discretionary funds to lancaster school (Minnesota independent district #356) via an endowment which is intended to be perpetual in nature.

What it reported doing in 2025

Lefsa raised $27,795 in funds to continue our endowment which will provide the income that will allow us to carry out the mission to support any discretionary spending of lancaster school district. Lefsa had $5,000 in grant distributions and $615 in advertising, promotion, and other fee expenses.

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 89% of its reported program spending out as grants.

The verdict

SUPPORTED - The filed numbers largely add up and most voting board members are independent. A relatively small share of available resources goes toward mission work and some filing-based governance responses are negative or unanswered.

Rating breakdown

  • Financial Efficiency: 42
  • Transparency & Controls: 83
  • Accountability: 70
  • Sustainability: 88
  • Growth: 60

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 16.3%; rating input score 16
  • Program expense ratio: 100%; rating input score 100
  • Fundraising efficiency: Limited

Transparency & Controls

  • Consistency checks: 88.9%; rating input score 89; 9th percentile among comparable filings
  • Pay-setting controls: Limited
  • Foreign activity oversight: Limited
  • Grant itemization coverage: Limited
  • Major donor itemization: Yes; rating input score 100
  • Related-party transparency: Limited

Accountability

  • Independent voting board: 100%; rating input score 100; 64th percentile among comparable filings
  • Governance controls: 2 of 7 controls in place; rating input score 29
    • Conflict-of-interest policy: Fail
    • Whistleblower policy: Fail
    • Document-retention policy: Fail
    • CEO compensation review process: NotApplicable
    • Other executive compensation review process: NotApplicable
    • Form 990 shared with the board: Pass
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Missing
    • Independent financial-statement audit: Fail

Sustainability

  • Operating margin: 89.3%; rating input score 98; 98th percentile among comparable filings
  • Total-asset coverage ratio: 52.46; rating input score 93; 93rd percentile among comparable filings
  • Liabilities to assets ratio: 0; rating input score 66; 66th percentile among comparable filings
  • Officer compensation ratio: 0%; rating input score 58; 58th percentile among comparable filings

Growth

  • Program expense growth: 71.5% per year; rating input score 100; 96th percentile among comparable filings
  • Revenue growth: -119.4% per year; rating input score 0; 3rd percentile among comparable filings
  • Asset growth: 27% per year; rating input score 100; 93rd percentile among comparable filings

Details

  • Where the money goes: 16.3% of revenue deployed · 100% of spending went to programs
  • Governance: 9 of 9 board members independent · 2 of 7 filing controls reported
  • Programs: 1 filed program accomplishment · $6K in reported program spending
  • Leadership: top reported pay $0 · 9 people listed
  • Consistency: 11 of 12 current checks pass · 1 finding to review
  • Schedules: 3 filed schedules · includes major donors
  • Filing history: 2 filing years from 2024 to 2025
  • Contacts: How to reach this organization
  • 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.

  • High — Financial Efficiency: Mission deployment rate scored 16/100.
  • High — Accountability: Governance controls: 4 of 6 not reported.
  • Moderate — Transparency & Controls: Schedule A contributions reconciliation did not reconcile in the filed values.
  • High — Growth: Revenue growth scored 0/100.
  • Review — Sustainability: Officer compensation ratio scored 58/100.