2024-05-06T09:54:48-07:00 2023-12-31 990 2023-01-01 411996178 COMMUNITY OF LANCASTER EDUCATION GROUP COMM 2188431265 PO Box 74 Lancaster MN 56735 Shelly Westerberg Treasurer 2188431265 2024-04-07 Shelly Westerberg 999009999 1 1 11 1 AAL2 2023 2023-04-26 12:10:37Z X Shelly Westerberg 2754 340th Ave Lake Bronson MN 56734 97499 0 X COLEG.org X 2001 MN To raise funds through contributions and investments for the singular purpose of providing reimbursement of post secondary tuition expenses of graduates of Lancaster High School (Minnesota Independent School District #356) 9 9 0 20 0 0 27960 24295 0 0 75745 73204 0 0 103705 97499 50875 60982 0 0 0 0 0 0 0 361 389 51236 61371 52469 36128 1033487 1121748 192625 213643 840862 908105 To raise funds through contributions and investments for the singular purpose of providing reimbursement of post secondary tuition expenses of graduates of Lancaster High School (Minnesota Independent School District #356) 0 0 61371 60982 97499 COLEG made eight scholarship awards totaling $84,000 during the calendar year 2023. COLEG paid out $60,982 in tuition reimbursements for awards made prior to 2023. It is COLEG's present policy to begin reimburse upon successful completion of the first full year of post-secondary studies. Completion of the first year must be accomplished within 13 months from high school graduation. At the end of 2023 there were 19 award recipients eligible to receive up to $213,643 in additional reimbursements. Further awards will be made in 2024 depending upon applications and projected investment earnings and unrestricted contributions. This is the only program service provided by COLEG 0 0 0 61371 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 1 0 0 1 0 0 0 0 0 0 0 0 0 X 9 9 0 0 0 0 1 1 0 1 0 0 0 1 0 0 0 0 0 0 MN X Shelly Westerberg 2188431265 PO Box 74 Lancaster MN 56735 X Diane Rice President 1 X 0 0 0 Crystal Peterson Vice President 1 X 0 0 0 Debbie Groves Secretary 1 X 0 0 0 Shelly Westerberg Treasurer 1 X 0 0 0 0 0 0 0 0 0 0 0 0 24295 0 0 0 0 0 24295 0 0 0 0 0 73204 73204 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 97499 73204 0 0 0 60982 60982 389 389 61371 61371 0 0 12730 20655 1020757 1101093 1033487 1121748 192625 213643 192625 213643 X 0 0 0 0 840862 908105 840862 908105 1033487 1121748 36128 31115 0 0 0 0 X 0 0 0 X 11560 15574 20321 27960 24295 99710 11560 15574 20321 27960 24295 99710 99710 68153 67666 79054 75745 73204 363822 463532 0.21511 0.21569 X The Community of Lancaster Education Group (COLEG) maintains a continuous and active program of soliciting members and funding from the Lancaster, MN community and from all former graduates of Lancaster School (Minnesota District 356). Memberships and contributions are solicited by annual mailings, and information booths at all-school and individual class reunions, and the annual Lancaster Heritage Day celebration. In general, more than half the families in the Lancaster community have a member in COLEG. COLEG has 9 members on the governing board who are elected from among the general membership at the annual membership meeting. In order to solicit larger contributions the board has formed and maintained several board-designated scholarship endowment funds (minimum $10,000 one-time contribution) in the form of donor-named scholarships. The board also has designated a much larger endowment fund from the multitude of smaller contributions from the greater community and the occasional unclaimed scholarship award and return of scholarship amounts from recipients after they have graduated from post secondary training. These funds are actively invested in income-generating mutual funds in order to maximize the amounts available to graduates of Lancaster High School for their post secondary training. If these endowment amounts were passively invested (money market funds & government bonds) COLEG would easily meet the 33 1/3% support test, but this would not best serve COLEG's stated purpose. Every graduate of Lancaster High School is eligible to apply for a COLEG grant and everyone who applies receives a scholarship grant. Award amounts (up to a maximum of $17,500 to date) are based on future plans and past scholastic performance as determined by a community based 12-member selection committee independent from the COLEG governing board and composed of persons having no close relations to graduating seniors who might apply for scholarship consideration. Solicitation for COLEG membership is aimed at all members of the greater Lancaster Community and all former graduates of the Lancaster school no matter where they are located. Minimum contribution amount (dues) to qualify a person to be a voting member of COLEG is $25.00. 1 Tuition Reimbursement 19 60982 0 Schedule I, Part I, Line 2 After completion of the first full year of post secondary studies, the plan administrator must receive a copy of the transcript with a minimum 2.0 GPA equivalent and tuition and fees receipts from the scholarship recipient to process reimbursements. Form 990, Part VI, Section A, Line 6 Solicitation of COLEG membership is aimed at all members of the greater Lancaster Community and all former graduates of the Lancaster School no matter where they are located. Minimum contribution amount (dues) to qualify a person to be a voting member of COLEG is $25. Form 990, Part VI, Section A, Line 7a COLEG has nine members on its governing board who are elected from among the general membership at the annual membership meeting. Form 990, Part VI, Section A, Line 8b Minutes are taken at each meeting. Hand outs are given at each meeting with the Secretary's and Treasurer's Report. Form 990, Part VI, Section B, Line 11b A copy of the Form 990 is made available to all board members at the annual board meeting scheduled in the bylaws for the second Tuesday after April 15 of each year. Form 990, Part VI, Section C, Line 19 The organization's governing documents, conflict of interest policies and financial statements are available on the organization's website: COLEG.org, or upon request from the organization officers.