Ada Scholarship Foundation Inc

Ada, MN
Tax-exempt since April 1987
EIN: 41-1566681

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Type of Nonprofit

Designated as a 501(c)(3) Organizations for any of the following purposes: religious, educational, charitable, scientific, literary, testing for public safety, fostering national or international amateur sports competition (as long as it doesn't provide athletic facilities or equipment), or the prevention of cruelty to children or animals.

Donations to this organization are tax deductible.

Revenue

$347k (2025)

Expenses

$199k (2025)

Total Assets

$2.72M (2025)

Total Liabilities

$0 (2025)

Source: Form 990 tax filings from 2012 to 2025

Tax Filings by Year

Form 990 is an information return that most organizations claiming federal tax-exempt status must file yearly with the IRS. Nonprofit Explorer has IRS digitized Form 990 data for filings processed in 2012 and later. If this organization filed an amended return, it may not be reflected below. Duplicate download links may indicate a resubmission or amendment to this organization's original return. Form 990 data is from the IRS.

Fiscal Year Ending May
2025

Revenue

$347,196

Expenses

$198,854

Net Income

$148,342

Net Assets

$2,722,297

Notable Sources of Revenue		Percent of Total Revenue
Contributions Received	$49,555	14.3%
Interest Revenue	$2,384	0.7%
Dividends	$75,452	21.7%
Sales of Assets	$219,805	63.3%
Other Income	$0

Notable Expenses		Percent of Total Expenses
Charitable Disbursements	$164,916	82.9%
Compensation of Officers*	$800	0.4%
* Officer compensation may be included in charitable disbursements, so Percent of Total Expenses may add up to greater than 100%.

Assets/Debt
Total Assets	$2,722,297
Total Liabilities	$0
Net Assets	$2,722,297

Compensation

Key Employees and Officers	Compensation	Other
Trudy Mickelson (Treasurer)	$400	$0
Barbara Anne Larson (Secretary)	$400	$0
Cynthia Ann Julin (Vice Preside)	$0	$0
David Solseng (President)	$0	$0
Michael Ness (Director)	$0	$0

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990-PF

Filed on Nov. 20, 2025

Primary tax return for a private foundation's activities, finances, and governance

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XML

Fiscal Year Ending May
2024

Revenue

$189,209

Expenses

$179,191

Net Income

$10,018

Net Assets

$2,573,955

Notable Sources of Revenue		Percent of Total Revenue
Contributions Received	$13,217	7.0%
Interest Revenue	$56	0.0%
Dividends	$72,426	38.3%
Sales of Assets	$103,510	54.7%
Other Income	$0

Notable Expenses		Percent of Total Expenses
Charitable Disbursements	$149,757	83.6%
Compensation of Officers*	$800	0.4%
* Officer compensation may be included in charitable disbursements, so Percent of Total Expenses may add up to greater than 100%.

Assets/Debt
Total Assets	$2,573,955
Total Liabilities	$0
Net Assets	$2,573,955

Compensation

Key Employees and Officers	Compensation	Other
Trudy Mickelson (Treasurer)	$400	$0
Barbara Anne Larson (Secretary)	$400	$0
Cynthia Ann Julin (Vice Preside)	$0	$0
David Solseng (President)	$0	$0
Michael Ness (Director)	$0	$0

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990-PF

Filed on July 24, 2024

Primary tax return for a private foundation's activities, finances, and governance

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Fiscal Year Ending May
2023

Revenue

$210,723

Expenses

$148,176

Net Income

$62,547

Net Assets

$2,563,937

Notable Sources of Revenue		Percent of Total Revenue
Contributions Received	$2,037	1.0%
Interest Revenue	$15	0.0%
Dividends	$29,902	14.2%
Sales of Assets	$164,380	78.0%
Other Income	$14,389	6.8%

Notable Expenses		Percent of Total Expenses
Charitable Disbursements	$116,871	78.9%
Compensation of Officers*	$3,300	2.2%
* Officer compensation may be included in charitable disbursements, so Percent of Total Expenses may add up to greater than 100%.

Assets/Debt
Total Assets	$2,563,937
Total Liabilities	$0
Net Assets	$2,563,937

Compensation

Key Employees and Officers	Compensation	Other
Trudy Mickelson (Treasurer)	$2,900	$0
Barbara Anne Larson (Secretary)	$400	$0
Cynthia Ann Julin (Vice Preside)	$0	$0
David Solseng (President)	$0	$0
Michael Ness (Director)	$0	$0

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990-PF

Filed on Feb. 22, 2024

Primary tax return for a private foundation's activities, finances, and governance

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Fiscal Year Ending May
2022

Revenue

$172,086

Expenses

$147,410

Net Income

$24,676

Net Assets

$2,501,390

Notable Sources of Revenue		Percent of Total Revenue
Contributions Received	$24,519	14.2%
Interest Revenue	$32	0.0%
Dividends	$47,067	27.4%
Sales of Assets	$90,948	52.9%
Other Income	$9,520	5.5%

Notable Expenses		Percent of Total Expenses
Charitable Disbursements	$116,680	79.2%
Compensation of Officers*	$325	0.2%
* Officer compensation may be included in charitable disbursements, so Percent of Total Expenses may add up to greater than 100%.

Assets/Debt
Total Assets	$2,501,390
Total Liabilities	$0
Net Assets	$2,501,390

Compensation

Key Employees and Officers	Compensation	Other
Barbara Anne Larson (Secretary)	$200	$0
Trudy Mickelson (Treasurer)	$125	$0
Cynthia Ann Julin (Vice President)	$0	$0
David Solseng (President)	$0	$0
Michael Ness (Director)	$0	$0

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990-PF

Filed on Nov. 1, 2022

Primary tax return for a private foundation's activities, finances, and governance

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Fiscal Year Ending May
2021

Revenue

$359,072

Expenses

$148,069

Net Income

$211,003

Net Assets

$2,476,713

Notable Sources of Revenue		Percent of Total Revenue
Contributions Received	$164,113	45.7%
Interest Revenue	$317	0.1%
Dividends	$44,523	12.4%
Sales of Assets	$150,119	41.8%
Other Income	$0

Notable Expenses		Percent of Total Expenses
Charitable Disbursements	$123,475	83.4%
Compensation of Officers*	$200	0.1%
* Officer compensation may be included in charitable disbursements, so Percent of Total Expenses may add up to greater than 100%.

Assets/Debt
Total Assets	$2,476,714
Total Liabilities	$1
Net Assets	$2,476,713

Compensation

Key Employees and Officers	Compensation	Other
Cynthia Ann Julin (Vice President)	$0	$0
David Solseng (President)	$0	$0
Trudy Mickelson (Treasurer)	$0	$0
Barbara Anne Larson (Secretary)	$0	$0

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990-PF

Filed on Nov. 15, 2021

Primary tax return for a private foundation's activities, finances, and governance

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XML

Fiscal Year Ending May
2020

Revenue

$166,322

Expenses

$167,908

Net Income

-$1,586

Net Assets

$2,265,710

Notable Sources of Revenue		Percent of Total Revenue
Contributions Received	$10,127	6.1%
Interest Revenue	$299	0.2%
Dividends	$59,326	35.7%
Sales of Assets	$88,601	53.3%
Other Income	$7,969	4.8%

Notable Expenses		Percent of Total Expenses
Charitable Disbursements	$132,865	79.1%
Compensation of Officers*	$200	0.1%
* Officer compensation may be included in charitable disbursements, so Percent of Total Expenses may add up to greater than 100%.

Assets/Debt
Total Assets	$2,265,711
Total Liabilities	$1
Net Assets	$2,265,710

Compensation

Key Employees and Officers	Compensation	Other
Cynthia Ann Julin (Vice President)	$0	$0
David Solseng (President)	$0	$0
Trudy Mickelson (Treasurer)	$0	$0
Barbara Anne Larson (Secretary)	$0	$0

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990-PF

Filed on March 20, 2021

Primary tax return for a private foundation's activities, finances, and governance

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Fiscal Year Ending May
2019

Revenue

$199,332

Expenses

$144,795

Net Income

$54,537

Net Assets

$2,267,297

Notable Sources of Revenue		Percent of Total Revenue
Contributions Received	$4,485	2.3%
Interest Revenue	$301	0.2%
Dividends	$0
Sales of Assets	$145,216	72.9%
Other Income	$49,330	24.7%

Notable Expenses		Percent of Total Expenses
Charitable Disbursements	$114,300	78.9%
Compensation of Officers*	$200	0.1%
* Officer compensation may be included in charitable disbursements, so Percent of Total Expenses may add up to greater than 100%.

Assets/Debt
Total Assets	$2,267,297
Total Liabilities	$0
Net Assets	$2,267,297

Compensation

Key Employees and Officers	Compensation	Other
Barbara Anne Larson (Secretary)	$200	$0
Cynthia Ann Julin (Vice President)	$0	$0
David Solseng (President)	$0	$0
Trudy Mickelson (Treasurer)	$0	$0

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990-PF

Filed on Nov. 15, 2019

Primary tax return for a private foundation's activities, finances, and governance

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Fiscal Year Ending May
2018

Revenue

$238,681

Expenses

$143,048

Net Income

$95,633

Net Assets

$2,212,760

Notable Sources of Revenue		Percent of Total Revenue
Contributions Received	$8,459	3.5%
Interest Revenue	$297	0.1%
Dividends	$0
Sales of Assets	$160,881	67.4%
Other Income	$69,044	28.9%

Notable Expenses		Percent of Total Expenses
Charitable Disbursements	$112,400	78.6%
Compensation of Officers*	$0
* Officer compensation may be included in charitable disbursements, so Percent of Total Expenses may add up to greater than 100%.

Assets/Debt
Total Assets	$2,212,760
Total Liabilities	$0
Net Assets	$2,212,760

Compensation

Key Employees and Officers	Compensation	Other
Cynthia Ann Julin (Vice President)	$0	$0
David Solseng (President)	$0	$0
Trudy Mickelson (Treasurer)	$0	$0
Barbara Anne Larson (Secretary)	$0	$0

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990-PF

Filed on Nov. 8, 2018

Primary tax return for a private foundation's activities, finances, and governance

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Fiscal Year Ending May
2017

Revenue

$136,749

Expenses

$144,524

Net Income

-$7,775

Net Assets

$2,117,127

Notable Sources of Revenue		Percent of Total Revenue
Contributions Received	$25,991	19.0%
Interest Revenue	$296	0.2%
Dividends	$0
Sales of Assets	$45,384	33.2%
Other Income	$65,078	47.6%

Notable Expenses		Percent of Total Expenses
Charitable Disbursements	$112,800	78.0%
Compensation of Officers*	$0
* Officer compensation may be included in charitable disbursements, so Percent of Total Expenses may add up to greater than 100%.

Assets/Debt
Total Assets	$2,117,127
Total Liabilities	$0
Net Assets	$2,117,127

Compensation

Key Employees and Officers	Compensation	Other
Cynthia Ann Julin (Vice President)	$0	$0
David Solseng (President)	$0	$0
Michael W Ness (Treasurer)	$0	$0
Barbara Anne Larson (Secretary)	$0	$0

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990-PF

Filed on Oct. 12, 2017

Primary tax return for a private foundation's activities, finances, and governance

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Fiscal Year Ending May
2016

Revenue

$127,647

Expenses

$144,252

Net Income

-$16,605

Net Assets

$2,124,902

Notable Sources of Revenue		Percent of Total Revenue
Contributions Received	$6,648	5.2%
Interest Revenue	$294	0.2%
Dividends	$0
Sales of Assets	$54,746	42.9%
Other Income	$65,959	51.7%

Notable Expenses		Percent of Total Expenses
Charitable Disbursements	$116,400	80.7%
Compensation of Officers*	$0
* Officer compensation may be included in charitable disbursements, so Percent of Total Expenses may add up to greater than 100%.

Assets/Debt
Total Assets	$2,124,902
Total Liabilities	$0
Net Assets	$2,124,902

Compensation

Key Employees and Officers	Compensation	Other
Thomas A Opheim (President)	$0	$0
David Solseng (Vice President)	$0	$0
Michael W Ness (Treasurer)	$0	$0
Linda Bergee (Secretary)	$0	$0

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990-PF

Filed on Sept. 13, 2016

Primary tax return for a private foundation's activities, finances, and governance

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Fiscal Year Ending May
2015

Revenue

$206,533

Expenses

$142,055

Net Income

$64,478

Net Assets

$2,141,507

Notable Sources of Revenue		Percent of Total Revenue
Contributions Received	$23,507	11.4%
Interest Revenue	$510	0.2%
Dividends	$0
Sales of Assets	$125,950	61.0%
Other Income	$56,566	27.4%

Notable Expenses		Percent of Total Expenses
Charitable Disbursements	$112,700	79.3%
Compensation of Officers*	$0
* Officer compensation may be included in charitable disbursements, so Percent of Total Expenses may add up to greater than 100%.

Assets/Debt
Total Assets	$2,141,507
Total Liabilities	$0
Net Assets	$2,141,507

Compensation

Key Employees and Officers	Compensation	Other
Thomas A Opheim (President)	$0	$0
David Solseng (Vice President)	$0	$0
Michael W Ness (Treasurer)	$0	$0
Linda Bergee (Secretary)	$0	$0

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990-PF

Filed on Sept. 2, 2015

Primary tax return for a private foundation's activities, finances, and governance

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Fiscal Year Ending May
2014

Revenue

$173,839

Expenses

$145,177

Net Income

$28,662

Net Assets

$2,077,029

Notable Sources of Revenue		Percent of Total Revenue
Contributions Received	$5,374	3.1%
Interest Revenue	$11,002	6.3%
Dividends	$35,942	20.7%
Sales of Assets	$115,235	66.3%
Other Income	$6,286	3.6%

Notable Expenses		Percent of Total Expenses
Charitable Disbursements	$118,700	81.8%
Compensation of Officers*	$0
* Officer compensation may be included in charitable disbursements, so Percent of Total Expenses may add up to greater than 100%.

Assets/Debt
Total Assets	$2,077,029
Total Liabilities	$0
Net Assets	$2,077,029

Compensation

Key Employees and Officers	Compensation	Other
Thomas A Opheim (President)	$0	$0
David Solseng (Vice President)	$0	$0
Michael W Ness (Treasurer)	$0	$0
Linda Bergee (Secretary)	$0	$0

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990-PF

Filed on July 1, 2014

Primary tax return for a private foundation's activities, finances, and governance

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Fiscal Year Ending May
2013

Revenue

$148,108

Expenses

$135,116

Net Income

$12,992

Net Assets

$2,048,366

Notable Sources of Revenue		Percent of Total Revenue
Contributions Received	$26,438	17.9%
Interest Revenue	$10,795	7.3%
Dividends	$34,806	23.5%
Sales of Assets	$66,984	45.2%
Other Income	$9,085	6.1%

Notable Expenses		Percent of Total Expenses
Charitable Disbursements	$113,100	83.7%
Compensation of Officers*	$0
* Officer compensation may be included in charitable disbursements, so Percent of Total Expenses may add up to greater than 100%.

Assets/Debt
Total Assets	$2,048,367
Total Liabilities	$1
Net Assets	$2,048,366

990-PF

Filed on Nov. 14, 2013

Primary tax return for a private foundation's activities, finances, and governance

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Fiscal Year Ending May
2012

Revenue

$113,864

Expenses

$139,928

Net Income

-$26,064

Net Assets

$2,035,376

Notable Sources of Revenue		Percent of Total Revenue
Contributions Received	$9,550	8.4%
Interest Revenue	$13,987	12.3%
Dividends	$28,888	25.4%
Sales of Assets	$55,073	48.4%
Other Income	$6,366	5.6%

Notable Expenses		Percent of Total Expenses
Charitable Disbursements	$116,689	83.4%
Compensation of Officers*	$0
* Officer compensation may be included in charitable disbursements, so Percent of Total Expenses may add up to greater than 100%.

Assets/Debt
Total Assets	$2,035,376
Total Liabilities	$0
Net Assets	$2,035,376

Nonprofit Explorer includes summary data for nonprofit tax returns and full Form 990 documents, in both PDF and digital formats.

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Updated March 23, 2026

Ada Scholarship Foundation Inc

Organization summary

Type of Nonprofit

Summary charts: organization finances over time

Revenue $347k (2025)

Expenses $199k (2025)

Total Assets $2.72M (2025)

Total Liabilities $0 (2025)

Tax Filings by Year

Fiscal Year Ending May 2025

Extracted Financial Data

Extracted Financial Data from Form 990-PF

Compensation

Document Links

990-PF

Fiscal Year Ending May 2024

Extracted Financial Data

Extracted Financial Data from Form 990-PF

Compensation

Document Links

990-PF

Fiscal Year Ending May 2023

Extracted Financial Data

Extracted Financial Data from Form 990-PF

Compensation

Document Links

990-PF

Fiscal Year Ending May 2022

Extracted Financial Data

Extracted Financial Data from Form 990-PF

Compensation

Document Links

990-PF

Fiscal Year Ending May 2021

Extracted Financial Data

Extracted Financial Data from Form 990-PF

Compensation

Document Links

990-PF

Fiscal Year Ending May 2020

Extracted Financial Data

Extracted Financial Data from Form 990-PF

Compensation

Document Links

990-PF

Fiscal Year Ending May 2019

Extracted Financial Data

Extracted Financial Data from Form 990-PF

Compensation

Document Links

990-PF

Fiscal Year Ending May 2018

Extracted Financial Data

Extracted Financial Data from Form 990-PF

Compensation

Document Links

990-PF

Fiscal Year Ending May 2017

Extracted Financial Data

Extracted Financial Data from Form 990-PF

Compensation

Document Links

990-PF

Fiscal Year Ending May 2016

Extracted Financial Data

Extracted Financial Data from Form 990-PF

Compensation

Document Links

990-PF

Fiscal Year Ending May 2015

Extracted Financial Data

Extracted Financial Data from Form 990-PF

Compensation

Document Links

990-PF

Fiscal Year Ending May 2014

Extracted Financial Data

Extracted Financial Data from Form 990-PF

Compensation

Document Links

Revenue

$347k (2025)

Expenses

$199k (2025)

Total Assets

$2.72M (2025)

Total Liabilities

$0 (2025)

Fiscal Year Ending May
2025

Fiscal Year Ending May
2024

Fiscal Year Ending May
2023

Fiscal Year Ending May
2022

Fiscal Year Ending May
2021

Fiscal Year Ending May
2020

Fiscal Year Ending May
2019

Fiscal Year Ending May
2018

Fiscal Year Ending May
2017

Fiscal Year Ending May
2016

Fiscal Year Ending May
2015

Fiscal Year Ending May
2014

Fiscal Year Ending May
2013

Fiscal Year Ending May
2012

Fiscal Year Ending May
2011

Fiscal Year Ending May
2010

Fiscal Year Ending May
2009

Fiscal Year Ending May
2008

Fiscal Year Ending May
2007

Fiscal Year Ending May
2006

Fiscal Year Ending May
2005

Fiscal Year Ending May
2004

Fiscal Year Ending May
2003

Fiscal Year Ending May
2002