FARIBAULT AREA TRAINING AND EDUCATION FOUNDATION Charity Report

Public IRS 990 nonprofit record

FARIBAULT AREA TRAINING AND EDUCATION FOUNDATION

EIN 41-1451735 · Education (B)

What they do

SUPPORTING POST-SECONDARY EDUCATION

Before you give

Should I give to this charity?

Easy charity check

Look at where the money went

Of every $100 spent, about $54.80 was reported for mission work. Use the spending picture below and ask what results that work produced.

Plain answer: A tax form cannot prove that a charity is doing good. It can show how the charity says it spent its money—and point out questions you should ask.

Basic facts we verified

IRS warning checkNo IRS revocation warning appears in this data.

Money report from 2023The report may be old. Ask for a newer one.

They explain their jobThe explanation is very short. Ask what work they really do.

They name their leaders14 people are listed in the latest report.

You can reach themThey list contact information, so you can ask questions.

Money made simple

147.63%of revenue went to mission work54.8% of expenses · Program services

2.78%of revenue went to fundraising1.0% of expenses

$269.55spent for every $100 of revenueSpending was higher than revenue this year.

119.14%of revenue went to management and office costs44.2% of expenses

$10.72in assets for every $1 spent this yearSome assets cannot be spent right away.

47.7%of its money came from giftsOther money may come from services or investments.

Ask these three easy questions

Who did you help? Ask for a recent story or report that shows real results.
What will my money do? Ask exactly what your gift will pay for.
Is this really the charity? Give only through its official website or confirmed phone number.

Worth asking: Expenses exceeded revenue by $197,018 this year. Ask whether that was planned or caused by a one-time event.

Pay context: The highest compensation shown in this filing is $80,000 for GAIL KADERLIK (EXECUTIVE DI). Compare pay with organizations of similar size and complexity.

Bottom line: Do not decide from a name, mission statement, or tax status alone. Look at where the money went, then ask what changed, who was helped, and what your gift will do. YouCanGiveBack does not endorse or grade organizations.

Money

Financial picture

Tax year 2023

A plain-language look at the latest Form 990 figures available. These numbers help you ask better questions; they do not, by themselves, rate whether a charity is good or bad.

$100revenue

How each $100 of revenue was used

The large number compares each expense with revenue. The smaller number shows its share of total expenses.

Total reported revenue$116,198

Mission workProgram services$171,544147.63% of revenue54.8% of expenses

ManagementOffice and general costs$138,443119.14% of revenue44.2% of expenses

FundraisingAsking for donations$3,2292.78% of revenue1.0% of expenses

Total expenses$313,216269.55% of revenue

Expenses were greater than revenue, so the colored ring fills the available $100 and the total above 100% is shown below.

Has the pattern changed?

Colored bars = expense mix: how each year’s expenses were divided. Total expenses vs. revenue shows whether the charity spent less or more than it received. The current filing is first.

YearExpense mixDetails

2023CurrentExpense mix: 54.8% mission · 44.2% management · 1.0% fundraisingTotal expenses: 269.55% of revenue

2022Expense mix: 48.9% mission · 50.2% management · 0.9% fundraisingTotal expenses: 142.97% of revenue

2021Expense mix: 56.3% mission · 42.8% management · 0.9% fundraisingTotal expenses: 122.28% of revenue

2020Expense mix: 54.2% mission · 45.0% management · 0.8% fundraisingTotal expenses: 60.65% of revenue

2019Expense mix: 75.1% mission · 22.7% management · 2.3% fundraisingTotal expenses: 40.93% of revenue

2018Expense mix: 66.6% mission · 31.5% management · 1.9% fundraisingTotal expenses: 55.35% of revenue

2017Expense mix: 75.5% mission · 22.9% management · 1.6% fundraisingTotal expenses: 70.77% of revenue

2016Expense mix: 65.2% mission · 33.8% management · 1.0% fundraisingTotal expenses: 71.99% of revenue

Money in and money out

Revenue$116,198

Expenses$313,216

Annual shortfall $197,018 Expenses were higher than revenue for this filing year.

Reported spending amounts

Mission work means the Form 990 category called program services. These are reported accounting categories—not an independent measurement of results.

Mission work (program services)$171,544 · 54.8% of expenses

Management and office costs$138,443 · 44.2% of expenses

Fundraising$3,229 · 1.0% of expenses

See all reported dollar amounts

Revenue$116,198

Expenses$313,216

Assets$3,358,896

Income$408,226

Contributions$55,429

Mission work (program services)$171,544

Fundraising$3,229

Grants given$13,341

Average grant$13,341

Management and general$138,443

Accounting fees$1,380

Investing fees$23,866

People

Leadership and board

Tax year 2023

Names, titles, time, and compensation below are reported by the organization on its Form 990.

People reported as paid

Person and titleCompensation

GAIL KADERLIKEXECUTIVE DI · 30 hrs/week $80,000

Compensation alone does not tell whether pay is reasonable. Consider the charity’s size, work, location, and results.

See everyone listed on the board or leadership roster (14)

GAIL KADERLIKEXECUTIVE DI

BARTON JACKSONDIRECTOR

DR CHERYL FREUNDAT LARGE OFF

DR DICK HUSTONAT LARGE OFF

DR RICHARD BERGEHONORARY

ELLIE HOLMQUISTEXECUTIVE DI

GARY VOEGELEDIRECTOR

IBRAHIM KHALIFDIRECTOR

JASON ROBINSONVICE PRESIDE

KEN WEAVERLINGSECRETARY/TR

MIKE GRAMSEDIRECTOR

RICHARD COOKDIRECTOR

RICK MILLERPRESIDENT

TIM FINLEYDIRECTOR

About this charity

Recognized since: January 1983
Location: 1225 SW 3RD STREET, FARIBAULT, MN 55021
County: Rice
In care of: ELLIE HOLMQUIST
Primary officer: ELLIE HOLMQUIST, EXECUTIVE DIRECTOR

How to reach them

WebsiteVisit the charity’s website Phone(507) 332-5808

Filing and classification

Latest tax year: 2023
Tax period began: July 1, 2023
Return type: 990
Tax preparer: REESE WINTER & ASSOCIATES LTD
NTEE classification: Education (B)
IRS tax category: Education
Grant-giving organization: Yes