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Nonprofit · EIN 45-5337894

GREATER LAKE CITY COMMUNITY FOUNDATION

Tax-exempt · LAKE CITY, MN 55041

Financials

$139K$40K2023$288K$49K2024$250K$101K2025
Revenue Expenses · by fiscal year end
Financials of GREATER LAKE CITY COMMUNITY FOUNDATION by year, from its e-filed returns
Year endedFormRevenueExpensesNet incomeTotal assetsLiabilitiesNet assets
December 31, 2025990$249,796$101,174$148,622$1,077,714$0$1,077,714
December 31, 2024990$288,254$49,320$238,934$846,137$0$846,137
December 31, 2023990$138,930$40,408$98,522$547,704$0$547,704
Financial details: 990 for the year ended December 31, 2025

Revenue

Contributions, gifts and grants
$193,248
Program service revenue
$0
Investment income
$56,548
Other revenue
$0

Expenses

Grants and similar amounts paid
$76,265
Compensation of officers, directors and key employees
$0
Salaries, compensation and benefits (total)
$0
Professional fundraising fees
$0
Accounting fees
$500
Program services (functional)
$76,265
Management and general (functional)
$24,909

Balance sheet and other

Total assets, start of year
$846,137
Total assets, end of year
$1,077,714
Total liabilities, end of year
$0
Net assets, end of year
$1,077,714
Net assets without donor restrictions
$860,293
Net assets with donor restrictions
$217,421
Gross receipts
$249,796
Employees
0
Year formed
2012
State of legal domicile
MN

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 December 31, 2025, highest compensation first.

NameTitleHours / weekCompensation
BRUCE CARLSTROMSECRETARY
Officer
20$12,000
PETER COYLECHAIRMAN
Trustee or director, Officer
5$0
BETH KREHBIELPRESIDENT
Trustee or director, Officer
1$0
MARK NICHOLSDIRECTOR
Trustee or director, Officer
5$0
STEVEN LANGTREASURER
Trustee or director, Officer
5$0
HEATHER BANKSASST TREASURER
Trustee or director, Officer
1$0
GREGORY LANGFIELDDIRECTOR
Trustee or director
2$0
JOLENE HARVEYDIRECTOR
Trustee or director
1$0
SARAH BLASERDIRECTOR
Trustee or director
1$0
PEG MATTKEDIRECTOR
Trustee or director
1$0
ANN NIBBEDIRECTOR
Trustee or director
1$0
990 for the year ended December 31, 2024: 11 people
NameTitleHours / weekCompensation
BRUCE CARLSTROMSECRETARY
Officer
20$6,000
PETER COYLECHAIRMAN
Trustee or director, Officer
5$0
BETH KREHBIELPRESIDENT
Trustee or director, Officer
1$0
MARK NICHOLSDIRECTOR
Trustee or director, Officer
5$0
STEVEN LANGTREASURER
Trustee or director, Officer
5$0
HEATHER BANKSASST TREASURER
Trustee or director, Officer
1$0
GREGORY LANGFIELDDIRECTOR
Trustee or director
2$0
JOLENE HARVEYDIRECTOR
Trustee or director
1$0
ERIKA BLIMDIRECTOR
Trustee or director
1$0
PEG MATTKEDIRECTOR
Trustee or director
1$0
ANN NIBBEDIRECTOR
Trustee or director
1$0
990 for the year ended December 31, 2023: 10 people
NameTitleHours / weekCompensation
DAVID JAMES SCHRECKCHAIRMAN
Trustee or director, Officer
5$0
BETH KREHBIELPRESIDENT
Trustee or director, Officer
1$0
BRUCE A CARLSTROMSECRETARY - ASST TREASURER
Trustee or director, Officer
5$0
STEVEN LANGTREASURER
Trustee or director, Officer
5$0
HEATHER BANKSASST TREASURER
Trustee or director, Officer
1$0
GREGORY LANGFIELDDIRECTOR
Trustee or director
2$0
ROBERT POPEDIRECTOR
Trustee or director
1$0
JOLENE HARVEYDIRECTOR
Trustee or director
1$0
ERIKA BLIMDIRECTOR
Trustee or director
1$0
PETER COYLEDIRECTOR
Trustee or director
1$0

Address and contacts

Address (IRS master file)
PO BOX 86, LAKE CITY, MN 55041-0086
In care of
% BRUCE A CARLSTROM
Mailing address (990-N for 2019)
PO Box 86, Lake City MN 55041
Principal officer (990 for 2025)
BRUCE CARLSTROM, 2528 Clubhouse Drive, Lake City, MN 55041
Principal officer (990-N for 2019)
Bruce A Carlstrom, 2528 Clubhouse Dr, Lake City MN 55041
Signed the 990
BRUCE CARLSTROM, SECRETARY
Phone
(651) 380-3312
Return prepared by
LA Anderson CPA

Mission

Community Foundation providing assistance for the betterment of the community. Pillars are Education, Community and Economic Development, Arts and Environment.

990 for the year ended December 31, 2025

Program accomplishments

  • United Way of Goodhue, Wabasha, and Pierce Counties for Lake City Packing for the Weekend. Childrens food program
    Expenses $10,000 · grants $10,000
  • First Luthern Church - Lake City
    Expenses $15,000 · grants $15,000
  • Lake City Area Arts - Arts Programming
    Expenses $7,500 · grants $7,500

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 December, so each return is due on the 15th day of the 5th month after that.

Tax yearYear endedDueIRS public records
2025December 31, 2025May 15, 2026990 on file
2024December 31, 2024May 15, 2025990 on file
2023December 31, 2023May 15, 2024990 on file

IRS record

EIN
45-5337894
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
2013
Accounting year ends
December
Files
Form 990 or 990-EZ
Assets (IRS master file)
$1,077,714
Income (IRS master file)
$249,796

Filing history

FormYear endedRevenueExpensesAssetsReturn
990December 2025$249,796$101,174$1,077,714IRS
990December 2024$288,254$49,320$846,137IRS
990December 2023$138,930$40,408$547,704XML
990December 2022$95,037$35,094$379,013IRS
990December 2021–––IRS
990December 2020–––IRS
990-N for 2019
Officer: Bruce A Carlstrom
December 31, 2019≤ $50,000 receipts––e-Postcard

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 45-5337894).

Questions about GREATER LAKE CITY COMMUNITY FOUNDATION

What is the EIN of GREATER LAKE CITY COMMUNITY FOUNDATION?
The employer identification number (EIN) of GREATER LAKE CITY COMMUNITY FOUNDATION is 45-5337894.
Is GREATER LAKE CITY COMMUNITY FOUNDATION tax-exempt?
Yes. The IRS lists it as tax-exempt under section 501(c)(3) since 2013.
Are donations to GREATER LAKE CITY COMMUNITY FOUNDATION tax-deductible?
Yes. It is listed in IRS Publication 78 (Public charity, 50% deduction limit).
Which annual return does GREATER LAKE CITY COMMUNITY 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 GREATER LAKE CITY COMMUNITY FOUNDATION due?
The return for tax year 2026 (the year ending December 31, 2026) is due May 17, 2027. Form 8868 extends it by six months; the 990-N cannot be extended.
When did GREATER LAKE CITY COMMUNITY FOUNDATION last file with the IRS?
The latest return in the IRS public files is the 990 for the year ended December 2025.
Who is the principal officer of GREATER LAKE CITY COMMUNITY FOUNDATION?
The 990 for the year ended December 31, 2025 names BRUCE CARLSTROM.
Who are the officers and directors of GREATER LAKE CITY COMMUNITY FOUNDATION?
The 990 for the year ended December 31, 2025 lists 11 people; 1 received compensation from the organization, the highest $12,000 (BRUCE CARLSTROM, SECRETARY).
How much revenue does GREATER LAKE CITY COMMUNITY FOUNDATION have?
On its 990 for the year ended December 31, 2025 it reported revenue of $249,796, expenses of $101,174 and total assets of $1,077,714 at year end.

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