Crosslake Ideal Scholarship Fund Inc

Crosslake, MN
Tax-exempt since Aug. 1993
EIN: 41-1636618

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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.

Category: Educational Institutions and Related Activities / Scholarships, Student Financial Aid Services, Awards (NTEE)

Donations to this organization are tax deductible.

Revenue

$2.85k (2025)

Expenses

$9.34k (2025)

Total Assets

$210k (2025)

Total Liabilities

$3k (2025)

Years with missing data

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 March
2025

Revenue

$2,847

Expenses

$9,336

Net Income

-$6,489

Net Assets

$207,356

Notable Sources of Revenue		Percent of Total Revenue
Contributions Received	$0
Interest Revenue	$0
Dividends	$6,944	> 100%
Sales of Assets	-$4,097
Other Income	$0

Notable Expenses		Percent of Total Expenses
Charitable Disbursements	$3,000	32.1%
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	$210,356
Total Liabilities	$3,000
Net Assets	$207,356

Compensation

Key Employees and Officers	Compensation	Other
Scott Gallaway (President)	$0	$0
Debby Floerchinger (Secretary/Tr)	$0	$0
Chuck Cole (Director)	$0	$0
Gordy Reller (Director)	$0	$0
Stephen Roe (Director)	$0	$0
Jane Monson (Director)	$0	$0
Sandy Anderson (Director)	$0	$0

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990-PF

Filed on July 2, 2025

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

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Schedules ▼

XML

Fiscal Year Ending March
2024

Revenue

$10,019

Expenses

$7,518

Net Income

$2,501

Net Assets

$206,988

Notable Sources of Revenue		Percent of Total Revenue
Contributions Received	$0
Interest Revenue	$0
Dividends	$7,103	70.9%
Sales of Assets	$2,916	29.1%
Other Income	$0

Notable Expenses		Percent of Total Expenses
Charitable Disbursements	$3,000	39.9%
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	$208,488
Total Liabilities	$1,500
Net Assets	$206,988

Compensation

Key Employees and Officers	Compensation	Other
Scott Gallaway (President)	$0	$0
Debby Floerchinger (Secretary/Tr)	$0	$0
Chuck Cole (Director)	$0	$0
Gordy Reller (Director)	$0	$0
Stephen Roe (Director)	$0	$0
Jane Monson (Director)	$0	$0
Sandy Anderson (Director)	$0	$0

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990-PF

Filed on July 12, 2024

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

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Schedules ▼

XML

Fiscal Year Ending March
2023

Revenue

$3,376

Expenses

$7,650

Net Income

-$4,274

Net Assets

$195,188

Notable Sources of Revenue		Percent of Total Revenue
Contributions Received	$0
Interest Revenue	$81	2.4%
Dividends	$6,095	> 100%
Sales of Assets	-$2,800
Other Income	$0

Notable Expenses		Percent of Total Expenses
Charitable Disbursements	$5,000	65.4%
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	$195,188
Total Liabilities	$0
Net Assets	$195,188

Compensation

Key Employees and Officers	Compensation	Other
Scott Gallaway (President)	$0	$0
Debby Floerchinger (Secretary/Tr)	$0	$0
Chuck Cole (Director)	$0	$0
Gordy Reller (Director)	$0	$0
Stephen Roe (Director)	$0	$0
Jane Monson (Director)	$0	$0
Sandy Anderson (Director)	$0	$0

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990-PF

Filed on Aug. 25, 2023

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

View Filing

Schedules ▼

PDF XML

Fiscal Year Ending March
2022

Revenue

$30,874

Expenses

$18,052

Net Income

$12,822

Net Assets

$213,561

Notable Sources of Revenue		Percent of Total Revenue
Contributions Received	$10,000	32.4%
Interest Revenue	$0
Dividends	$6,039	19.6%
Sales of Assets	$14,835	48.1%
Other Income	$0

Notable Expenses		Percent of Total Expenses
Charitable Disbursements	$14,000	77.6%
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	$213,561
Total Liabilities	$0
Net Assets	$213,561

Compensation

Key Employees and Officers	Compensation	Other
Scott Gallaway (President)	$0	$0
Chuck Cole (Secretary/Tr)	$0	$0
Gordy Reller (Director)	$0	$0
Stephen Roe (Director)	$0	$0
Jane Monson (Director)	$0	$0
Debbie Floerchinger (Director)	$0	$0
Sandy Anderson (Director)	$0	$0

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990-PF

Filed on July 28, 2022

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

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Schedules ▼

XML

Fiscal Year Ending March
2021

Revenue

$34,086

Expenses

$9,070

Net Income

$25,016

Net Assets

$223,293

Notable Sources of Revenue		Percent of Total Revenue
Contributions Received	$21,000	61.6%
Interest Revenue	$0
Dividends	$4,632	13.6%
Sales of Assets	$8,454	24.8%
Other Income	$0

Notable Expenses		Percent of Total Expenses
Charitable Disbursements	$6,000	66.2%
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	$223,294
Total Liabilities	$1
Net Assets	$223,293

Compensation

Key Employees and Officers	Compensation	Other
Scott Gallaway (President)	$0	$0
Chuck Cole (Secretary/Tr)	$0	$0
Gordy Reller (Director)	$0	$0
Stephen Roe (Director)	$0	$0
Jane Monson (Director)	$0	$0
Debbie Floerchinger (Director)	$0	$0
Sandy Anderson (Director)	$0	$0

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990-PF

Filed on June 29, 2021

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

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Schedules ▼

XML

Fiscal Year Ending March
2020

Revenue

$10,975

Expenses

$6,327

Net Income

$4,648

Net Assets

$165,713

Notable Sources of Revenue		Percent of Total Revenue
Contributions Received	$0
Interest Revenue	$0
Dividends	$5,367	48.9%
Sales of Assets	$5,608	51.1%
Other Income	$0

Notable Expenses		Percent of Total Expenses
Charitable Disbursements	$4,000	63.2%
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	$165,714
Total Liabilities	$1
Net Assets	$165,713

Compensation

Key Employees and Officers	Compensation	Other
Scott Gallaway (President)	$0	$0
Sandy Anderson (Director)	$0	$0
Jane Monson (Director)	$0	$0
Stephen Roe (Director)	$0	$0
Chuck Cole (Director)	$0	$0
Gordy Reller (Secretary/Tr)	$0	$0
Debbie Floerchinger (Director)	$0	$0

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990-PF

Filed on June 30, 2020

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

View Filing

Schedules ▼

PDF XML

Fiscal Year Ending March
2019

Revenue

$21,041

Expenses

$8,475

Net Income

$12,566

Net Assets

$176,665

Notable Sources of Revenue		Percent of Total Revenue
Contributions Received	$9,500	45.1%
Interest Revenue	$0
Dividends	$4,549	21.6%
Sales of Assets	$6,992	33.2%
Other Income	$0

Notable Expenses		Percent of Total Expenses
Charitable Disbursements	$5,500	64.9%
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	$177,165
Total Liabilities	$500
Net Assets	$176,665

Compensation

Key Employees and Officers	Compensation	Other
Scott Gallaway (President)	$0	$0
Sandy Anderson (Director)	$0	$0
Paul Davis (Director)	$0	$0
Stephen Roe (Director)	$0	$0
Chuck Cole (Director)	$0	$0
Gordy Reller (Secretary/Tr)	$0	$0
Debbie Floerchinger (Director)	$0	$0

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990-PF

Filed on June 10, 2019

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

View Filing

Schedules ▼

PDF XML

Fiscal Year Ending March
2018

Extracted financial data is not available for the forms filed in this tax period, but Form 990 documents are available for download.

990-PF

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

PDF

Fiscal Year Ending March
2017

Extracted financial data is not available for the forms filed in this tax period, but Form 990 documents are available for download.

990-PF

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

PDF

Fiscal Year Ending March
2016

Revenue

$6,351

Expenses

$5,668

Net Income

$683

Net Assets

$162,858

Notable Sources of Revenue		Percent of Total Revenue
Contributions Received	$5,000	78.7%
Interest Revenue	$1,351	21.3%
Dividends	$0
Sales of Assets	$0
Other Income	$0

Notable Expenses		Percent of Total Expenses
Charitable Disbursements	$5,000	88.2%
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	$162,858
Total Liabilities	$0
Net Assets	$162,858

990-PF

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

PDF

Fiscal Year Ending March
2015

Revenue

$6,305

Expenses

$8,429

Net Income

-$2,124

Net Assets

$162,175

Notable Sources of Revenue		Percent of Total Revenue
Contributions Received	$5,000	79.3%
Interest Revenue	$1,305	20.7%
Dividends	$0
Sales of Assets	$0
Other Income	$0

Notable Expenses		Percent of Total Expenses
Charitable Disbursements	$7,800	92.5%
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	$162,175
Total Liabilities	$0
Net Assets	$162,175

990-PF

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

PDF

Fiscal Year Ending March
2014

Revenue

$11,553

Expenses

$7,714

Net Income

$3,839

Net Assets

$164,299

Notable Sources of Revenue		Percent of Total Revenue
Contributions Received	$10,000	86.6%
Interest Revenue	$1,553	13.4%
Dividends	$0
Sales of Assets	$0
Other Income	$0

Notable Expenses		Percent of Total Expenses
Charitable Disbursements	$7,000	90.7%
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	$164,299
Total Liabilities	$0
Net Assets	$164,299

990-PF

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

PDF

Fiscal Year Ending March
2013

Revenue

$5,407

Expenses

$4,329

Net Income

$1,078

Net Assets

$160,460

Notable Sources of Revenue		Percent of Total Revenue
Contributions Received	$4,000	74.0%
Interest Revenue	$1,407	26.0%
Dividends	$0
Sales of Assets	$0
Other Income	$0

Notable Expenses		Percent of Total Expenses
Charitable Disbursements	$4,300	99.3%
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	$160,460
Total Liabilities	$0
Net Assets	$160,460

990-PF

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

PDF

Fiscal Year Ending March
2012

Revenue

$5,952

Expenses

$4,226

Net Income

$1,726

Net Assets

$159,382

Notable Sources of Revenue		Percent of Total Revenue
Contributions Received	$4,000	67.2%
Interest Revenue	$1,952	32.8%
Dividends	$0
Sales of Assets	$0
Other Income	$0

Notable Expenses		Percent of Total Expenses
Charitable Disbursements	$2,800	66.3%
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	$160,082
Total Liabilities	$700
Net Assets	$159,382

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Updated January 26, 2026

Crosslake Ideal Scholarship Fund Inc

Organization summary

Type of Nonprofit

Summary charts: organization finances over time

Revenue $2.85k (2025)

Expenses $9.34k (2025)

Total Assets $210k (2025)

Total Liabilities $3k (2025)

Tax Filings by Year

Fiscal Year Ending March 2025

Extracted Financial Data

Extracted Financial Data from Form 990-PF

Compensation

Document Links

990-PF

Fiscal Year Ending March 2024

Extracted Financial Data

Extracted Financial Data from Form 990-PF

Compensation

Document Links

990-PF

Fiscal Year Ending March 2023

Extracted Financial Data

Extracted Financial Data from Form 990-PF

Compensation

Document Links

990-PF

Fiscal Year Ending March 2022

Extracted Financial Data

Extracted Financial Data from Form 990-PF

Compensation

Document Links

990-PF

Fiscal Year Ending March 2021

Extracted Financial Data

Extracted Financial Data from Form 990-PF

Compensation

Document Links

990-PF

Fiscal Year Ending March 2020

Extracted Financial Data

Extracted Financial Data from Form 990-PF

Compensation

Document Links

990-PF

Fiscal Year Ending March 2019

Extracted Financial Data

Extracted Financial Data from Form 990-PF

Compensation

Document Links

990-PF

Fiscal Year Ending March 2018

No Extracted Financial Data

Document Links

990-PF

Fiscal Year Ending March 2017

No Extracted Financial Data

Document Links

990-PF

Fiscal Year Ending March 2016

Extracted Financial Data

Extracted Financial Data from Form 990-PF

Document Links

990-PF

Fiscal Year Ending March 2015

Extracted Financial Data

Extracted Financial Data from Form 990-PF

Document Links

990-PF

Fiscal Year Ending March 2014

Extracted Financial Data

Extracted Financial Data from Form 990-PF

Document Links

990-PF

Fiscal Year Ending March 2013

Extracted Financial Data

Extracted Financial Data from Form 990-PF

Document Links

990-PF

Fiscal Year Ending March 2012

Revenue

$2.85k (2025)

Expenses

$9.34k (2025)

Total Assets

$210k (2025)

Total Liabilities

$3k (2025)

Fiscal Year Ending March
2025

Fiscal Year Ending March
2024

Fiscal Year Ending March
2023

Fiscal Year Ending March
2022

Fiscal Year Ending March
2021

Fiscal Year Ending March
2020

Fiscal Year Ending March
2019

Fiscal Year Ending March
2018

Fiscal Year Ending March
2017

Fiscal Year Ending March
2016

Fiscal Year Ending March
2015

Fiscal Year Ending March
2014

Fiscal Year Ending March
2013

Fiscal Year Ending March
2012

Fiscal Year Ending March
2011

Fiscal Year Ending March
2010

Fiscal Year Ending March
2009

Fiscal Year Ending March
2008

Fiscal Year Ending March
2007

Fiscal Year Ending March
2006

Fiscal Year Ending March
2005

Fiscal Year Ending March
2004

Fiscal Year Ending March
2003

Fiscal Year Ending March
2002