Greater Lake Superior Foundation in Minneapolis, Minnesota (MN)

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Greater Lake Superior Foundation
Employer Identification Number (EIN)411693731
Name of OrganizationGreater Lake Superior Foundation
In Care of NameScott Thorpe
Address4440 46th Ave S, Minneapolis, MN 55406-3618
SubsectionCharitable Organization
Ruling Date11/2011
DeductibilityContributions are deductible
FoundationPrivate non-operating foundation
OrganizationCorporation
Exempt Organization StatusUnconditional Exemption
Tax Period12/2013
Assets$25,000 to $99,999
Income$1 to $9,999
Filing Requirement990 - Not required to file (all other)
Asset Amount$51,647
Amount of Income$7,192
Form 990 Revenue Amount$1,974
National Taxonomy of Exempt Entities (NTEE)Environmental Quality, Protection and Beautification: Water Resource, Wetlands Conservation and Management


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Amount of income in 2013: $7,192 (it was $5,816 in 2012)
This organization: 

 $7,192
Other organizations performing similar types of work: 

 $74,738

Assets in 2013: $51,647 (it was $47,023 in 2012)
This organization: 

 $51,647
Other organizations performing similar types of work: 

 $43,214

Expenses in 2013: $4,313
This organization: 

 $4,313
Other organizations performing similar types of work: 

 $59,513

Income to expenses ratio in 2013: 1.7
Greater Lake Superior Foundation: 

 1.7
Other organizations performing similar types of work: 

 0.7

Grants share in income in 2013: 32.3%
Greater Lake Superior Foundation: 

 32.3%
Other organizations performing similar types of work: 

 97.5%

Financial snapshot ($)

Revenue for 2013

Assets at the end of 2013

Expenses for 2013

Analysis of Revenue and Expenses (for 2013)
Revenue and expenses per booksNet investment incomeAdjusted net incomeDisbursements for charitable purposes (cash basis only)
Total revenue$4,515$2,781$274
Contributions, gifts, grants, etc., received$1,460
Interest on savings and temporary cash investments$0
Dividends and interest from securities$2,131
Gross rents$0
Gross sales price for all assets$3,071
Gross profit from sales of goods$274
Gross sales less returns and allowances$18
Less: Cost of goods sold$256
Other income$0
Other$650
Total expenses and disbursements$4,313$0$274$3,067
Compensation of officers, directors, trustees, etc.$0
Pension plans, employee benefits$0
Legal fees$0
Accounting fees$356
Interest$0
Depreciation$0
Occupancy$0
Travel, conferences, and meetings$165
Printing and publications$305
Total operating and administrative expenses$2,313$958$1,067
Contributions, gifts, grants paid$2,000
Excess of revenue over expenses and disbursements$202
Net investment income$1,823
Adjusted net income$0
Balance Sheets
201120122013
Book ValueFair Market ValueBook ValueFair Market ValueBook ValueFair Market Value
Total assets$46,762$46,761$47,023$47,023$51,647$51,647
Cash - non-interest-bearing$504$906$1,143
Investments-U.S. and state government obligations$0$0$0
Investments-corporate stock$46,099$46,052$50,171
Investments-corporate bonds$0$0$0
Investments-mortgage loans$0$0$0
Investments-other$0$0$0
Other assets$0$0
Total liabilities$0$0$0
Total liabilities and net assets/fund balances$46,762$47,023$51,647
Capital Gains and Losses for Tax on Investment Income
201120122013
Capital gain net income$0$795$650
Net capital loss$0$0$0
Excise Tax Based on Investment Income
201120122013
Domestic foundations that meet the section 4940(e) requirements (for Reduced Tax on Net Investment Income)NoNoNo
Tax based on investment income$175$14$18
Total credits and payments$0$0$0
Any penalty for underpayment of estimated tax$0$0$0
Tax due$14$18
Overpayment$0$0
Amount to be credited to next year's estimated tax$0$0$0
Statements Regarding Activities
201120122013
During the tax year, did the foundation attempt to influence any national, state, or local legislation or did it participate or intervene in any political campaign?NoNoNo
Has the foundation engaged in any activities that have not previously been reported to the IRS?NoNo
Has the foundation made any changes, not previously reported to the IRS, in its governing instrument, articles of incorporation, or bylaws, or other similar instruments?NoNo
Has the foundation filed a tax return on Form 990-T for this year?NoNo
Was there a liquidation, termination, dissolution, or substantial contraction during the year?NoNoNo
Has the foundation furnished a copy of Form 990-PF to the Attorney General (or designate) of each state?YesYes
Is the foundation claiming status as a private operating foundation within the meaning of section 4942(j)(3) or 4942(j)(5) for current calendar year or the taxable year beginning in this year?NoNoNo
Did any persons become substantial contributors during the tax year?NoNo
Did the foundation make a distribution to a donor advised fund over which the foundation or a disqualified person had advisory privileges?NoNo
Did the foundation comply with the public inspection requirements for its annual returns and exemption application?YesYes
Section 4947(a)(1) nonexempt charitable trusts filing Form 990-PF in lieu of Form 1041NoNo
Statements Regarding Activities for Which Form 4720 May Be Required
201120122013
During the year did the foundation (either directly or indirectly):
Engage in the sale or exchange, or leasing of property with a disqualified person?NoNoNo
Borrow money from, lend money to, or otherwise extend credit to (or accept it from) a disqualified person?NoNoNo
Furnish goods, services, or facilities to (or accept them from) a disqualified person?NoNoNo
Pay compensation to, or pay or reimburse the expenses of, a disqualified person?NoNoNo
Transfer any income or assets to a disqualified person (or make any of either available for the benefit or use of a disqualified person)?NoNoNo
Agree to pay money or property to a government official?NoNoNo
Did any of the acts fail to qualify under the exceptions described in Regulations section 53.4941(d)-3 or in a current notice regarding disaster assistance?NoNo
Did the foundation engage in a prior year in any of the acts, other than excepted acts, that were not corrected before the first day of the tax year beginning in this year?NoNo
At the end of this tax year, did the foundation have any undistributed income for tax year(s) beginning before this year?NoNoYes
Are there any years listed above for which the foundation is not applying the provisions of section 4942(a)(2) (relating to incorrect valuation of assets) to the year's undistributed income?NoNo
Did the foundation hold more than a 2% direct or indirect interest in any business enterprise at any time during the year?NoNoNo
Did the foundation have excess business holdings in this year as a result of (1) any purchase by the foundation or disqualified persons after May 26, 1969; (2) the lapse of the 5-year period (or longer period approved by the Commissioner under section 4943(c)(7)) to dispose of holdings acquired by gift or bequest; or (3) the lapse of the 10-, 15-, or 20-year first phase holding period?NoNoNo
Did the foundation invest during the year any amount in a manner that would jeopardize its charitable purposes?NoNoNo
Did the foundation make any investment in a prior year (but after December 31, 1969) that could jeopardize its charitable purpose that had not been removed from jeopardy before the first day of the tax year beginning in this year?NoNo
During the year did the foundation pay or incur any amount to:
Carry on propaganda, or otherwise attempt to influence legislation (section 4945(e))?NoNoNo
Influence the outcome of any specific public election (see section 4955); or to carry on, directly or indirectly, any voter registration drive?NoNoNo
Provide a grant to an individual for travel, study, or other similar purposes?NoNoNo
Provide a grant to an organization other than a charitable, etc., organization described in section 509(a)(1), (2), or (3), or section 4940(d)(2)?NoNoNo
Provide for any purpose other than religious, charitable, scientific, literary, or educational purposes, or for the prevention of cruelty to children or animals?NoNoNo
Did any of the transactions fail to qualify under the exceptions described in Regulations section 53.4945 or in a current notice regarding disaster assistance?NoNo
Did the foundation, during the year, receive any funds, directly or indirectly, to pay premiums on a personal benefit contract?NoNo
Did the foundation, during the year, pay premiums, directly or indirectly, on a personal benefit contract?NoNo
Minimum Investment Return
201120122013
Fair market value of assets not used (or held for use) directly in carrying out charitable, etc., purposes$48,661$48,661$49,905
Net value of noncharitable-use assets$47,931$49,156
Minimum investment return$2,397$2,397$2,458
Distributable Amount
201120122013
Distributable amount$2,222$2,383$2,440
Undistributed Income
201120122013
Distributable amount for this year$2,222$2,383$2,440
Undistributed income for this year. This amount must be distributed in the next year$1,969$2,206$1,579
Private Operating Foundations (for 2010 - 2013)
2013201220112010Total
The lesser of the adjusted net income or the minimum investment return$0$0$0$0$0
Qualifying distributions made directly for active conduct of exempt activities$0$0$0$0$0
Value of all assets$0$0$0$0$0
Value of assets qualifying under section 4942(j)(3)(B)(i)$0$0$0$0$0
2/3 of minimum investment return$0$0$0$0$0
Total support other than gross investment income (interest, dividends, rents, payments on securities loans (section 512(a)(5)), or royalties)$0$0$0$0$0
Support from general public and 5 or more exempt organizations as provided in section 4942(j)(3)(B)(iii)$0$0$0$0$0
Gross investment income$0$0$0$0$0
Supplementary Information (for 2013)
Grants approved for future payment$0
Analysis of Income-Producing Activities (for 2013)
AmountRelated or exempt function income
Program service revenue
Fees and contracts from government agencies$0$0
Membership dues and assessments$0$0
Interest on savings and temporary cash investments$0$0
Dividends and interest from securities$2,131$0
Information Regarding Transfers To and Transactions and Relationships With Noncharitable Exempt Organizations (for 2013)
Did the organization directly or indirectly engage in any of the following with any other organization described in section 501(c) of the Code (other than section 501(c)(3) organizations) or in section 527, relating to political organizations?
Transfers from the reporting foundation to a noncharitable exempt organization of:
CashNo
Other assetsNo
Other transactions:
Sales of assets to a noncharitable exempt organizationNo
Purchases of assets from a noncharitable exempt organizationNo
Rental of facilities, equipment, or other assetsNo
Reimbursement arrangementsNo
Loans or loan guaranteesNo
Performance of services or membership or fundraising solicitationsNo
Sharing of facilities, equipment, mailing lists, other assets, or paid employeesNo
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IdNameAddressStateEstablishedTotal Income
1Rush Lake Improvement Association50690 Bayside Ave, Rush City, MN 55069-2531MN2009-08$1,968,983
2Minnesota Agricultural Water Resources Coalition3080 Eagandale Pl, Eagan, MN 55121-2118MN2012-09$1,301,825
3Rural Advantage1243 Lake Ave Ste 222, Fairmont, MN 56031-1974MN2004-05$253,053
4White Bear Lake Restoration AssociationPo Box 10682, White Bear Lake, MN 55110MN2012-11$227,986
5Friends Of Dl Wetland Mgmt District Inc26624 North Tower Road, Detroit Lakes, MN 56501MN2003-04$216,650
6Zumbro Watershed Partnership Inc1485 Industrial Dr Nw Ste 102, Rochester, MN 55901-0750MN2008-10$167,817
7Briggs Lake Chain Association11005 42nd Street, Clear Lake, MN 55319MN2011-04$62,133
8Flute Reed PartnershipBox 92, Hovland, MN 55606MN2007-05$52,543
9Nest Lake Improvement AssociationP O Box 42, Spicer, MN 56288MN2010-08$36,869
10Itasca Water Legacy PartnershipPO BOX 881, Grand Rapids, MN 55744-0881MN2011-03$24,316
11Circle Lake AssociationPo Box 147, Northfield, MN 55057MN2014-01$17,163
12Forest Lake Lake AssociationPO BOX 61, Forest Lake, MN 55025-0061MN2009-10$15,810
13Minnesota Clean Marina Program4068 Sunset Drive, Spring Park, MN 55384MN2011-02$7,470
14Greater Lake Superior Foundation4440 46th Ave S, Minneapolis, MN 55406-3618MN2011-11$7,192
15Eagle Lake Preservation Association6435 Eagle Lake Drive, Maple Grove, MN 55369MN2013-10$4,454
16Wild River Audubon Society28110 Nathan Lane, Lindstrom, MN 55045MN2004-08$4,172
17Save Our Sky Blue Waters225 Mitchell Cir, Duluth, MN 55811-5904MN2014-06$3,000
18Chisago-Lindstrom Lakes AssociationPo Box 44, Lindstrom, MN 55045MN2003-06$505
19Ross-Stark-Twin Lakes Association26562 Ross Lake Rd, Aitkin, MN 56431-6125MN2003-09$400
20Agate Lake Association Inc9422 Agate Lake Rd Sw, Lake Shore, MN 56468-8702MN2015-02$0
Number of organizations performing similar types of work
Alaska20
Alabama30
Arkansas18
Arizona22
California242
Colorado48
Connecticut41
District of Columbia10
Delaware6
Florida131
Georgia35
Hawaii30
Iowa65
Idaho18
Illinois35
Indiana39
Kansas6
Kentucky15
Louisiana23
Massachusetts80
Maryland48
Maine54
Michigan95
Minnesota127
Missouri22
Mississippi4
Montana35
North Carolina50
North Dakota7
Nebraska4
New Hampshire27
New Jersey34
New Mexico20
Nevada17
New York105
Ohio51
Oklahoma10
Oregon74
Pennsylvania126
Rhode Island12
South Carolina21
South Dakota8
Tennessee29
Texas78
Utah12
Virginia43
Vermont27
Washington77
Wisconsin120
West Virginia33
Wyoming6
International12
Total2,302

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