Twin Lakes School Building Improvement Corporation in Monticello, Indiana (IN)

Twin Lakes School Building Improvement Corporation
Employer Identification Number (EIN)	351776225
Name of Organization	Twin Lakes School Building Improvement Corporation
Address	565 S Main St, Monticello, IN 47960-2473
Activities	Gifts, grants, or loans to other organizations
Subsection	Civic League
Ruling Date	10/1990
Deductibility	Contributions are deductible
Foundation	All organizations except 501(c)(3)
Organization	Corporation
Exempt Organization Status	Unconditional Exemption
Tax Period	12/2005
Assets	$10,000,000 to $49,999,999
Income	$1,000,000 to $4,999,999
Filing Requirement	990 (all other) or 990EZ return
Asset Amount	$20,625,067
Amount of Income	$2,863,911
Form 990 Revenue Amount	$2,863,911
National Taxonomy of Exempt Entities (NTEE)	Educational Institutions and Related Activities: Fund Raising and/or Fund Distribution

Non-representatives - add comments:

Amount of income in 2005: $2,863,911

Twin Lakes School Building Improvement Corporation:	$2,863,911
Other organizations performing similar types of work:	$86,203

Assets in 2005: $20,625,067

Twin Lakes School Building Improvement Corporation:	$20,625,067
Other organizations performing similar types of work:	$53,182

Expenses in 2005: $1,525,251

This organization:	$1,525,251
Other organizations performing similar types of work:	$53,420

Income to expenses ratio in 2005: 1.9

Twin Lakes School Building Improvement Corporation:	1.9
Other organizations performing similar types of work:	1.1

Expenses allocated to program services in 2005: 100.0%

This organization:	100.0%
Other organizations performing similar types of work:	92.5%

Grants share in income in 2005: 0.0%

This organization:	0.0%
Other organizations performing similar types of work:	12.0%

Financial snapshot ($)

Revenue for 2005

Assets at end of 2005

Functional Expenses for 2005 ($)

Income-Producing Activities for 2005

	2000	2001	2002	2003	2004	2005
Revenue, Expenses, and Changes in Net Assets or Fund Balances
Total revenue	$3,045,579	$2,622,097	$5,375,498	$490,222	$2,850,491	$2,863,911
Contributions, gifts, grants, and similar amounts received	$0	$0	$0	$0	$0	$0
Contributions to donor advised funds
Direct public support	$0	$0	$0	$0	$0	$0
Indirect public support	$0	$0	$0	$0	$0	$0
Government contributions (grants)	$0	$0	$0	$0	$0	$0
Program service revenue including government fees and contracts	$0	$0	$0	$0	$0	$0
Membership dues and assessments	$0	$0	$0	$0	$0	$0
Interest on savings and temporary cash investments	$1,386,031	$12,202	$150,053	$19,222	$5,491	$18,161
Dividends and interest from securities	$0	$0	$0	$0	$0	$0
Net rental income or (loss)	$1,659,548	$2,609,895	$5,225,445	$471,000	$2,845,000	$2,845,750
Gross rents	$1,659,548	$2,609,895	$5,225,445	$471,000	$2,845,000	$2,845,750
Less: rental expenses	$0	$0	$0	$0	$0	$0
Other investment income	$0	$0	$0	$0	$0	$0
Gain or (loss) from sales of assets other than inventory	$0	$0	$0	$0	$0	$0
Gross amount from sales of assets other than inventory	$0	$0	$0	$0	$0	$0
Less: cost or other basis and sales expenses	$0	$0	$0	$0	$0	$0
Net income or (loss) from special events and activities	$0	$0	$0	$0	$0	$0
Gross revenue	$0	$0	$0	$0	$0	$0
Less: direct expenses other than fundraising expenses	$0	$0	$0	$0	$0	$0
Gross profit or (loss) from sales of inventory	$0	$0	$0	$0	$0	$0
Gross sales of inventory, less returns and allowances	$0	$0	$0	$0	$0	$0
Less: cost of goods sold	$0	$0	$0	$0	$0	$0
Other revenue	$0	$0	$0	$0	$0	$0
Total expenses	$2,849,080	$2,324,656	$2,295,532	$1,745,015	$1,596,118	$1,525,251
Program services	$2,849,080	$2,324,656	$2,295,532	$1,745,015	$1,596,118	$1,525,251
Management and general	$0	$0	$0	$0	$0	$0
Fundraising	$0	$0	$0	$0	$0	$0
Payments to affiliates	$0	$0	$0	$0	$0	$0
Net assets or fund balances at end of year	$-447,000	$-149,560	$2,930,406	$1,675,613	$2,929,986	$4,268,646
Excess or (deficit) for the year	$196,499	$297,441	$3,079,966	$-1,254,793	$1,254,373	$1,338,660
Net assets or fund balances at beginning of year	$-643,499	$-447,001	$-149,560	$2,930,406	$1,675,613	$2,929,986
Other changes in net assets or fund balances	$0	$0	$0	$0	$0	$0

	Total	Program services	Management and general	Fundraising
Statement of Functional Expenses (for 2005)
Total functional expenses	$1,525,251	$1,525,251	$0	$0
Grants paid from donor advised funds
Other grants and allocations		$0
Specific assistance to individuals		$0
Benefits paid to or for members		$0
Compensation of current officers, directors, key employees, etc.	$5,500	$5,500	$0	$0
Compensation of former officers, directors, key employees, etc.
Compensation and other distributions, not included above, to disqualified persons (as defined under section 4958(f)(1)) and persons described in section 4958(c)(3)(B)
Salaries and wages of employees not included above	$0	$0	$0	$0
Pension plan contributions not included above	$0	$0	$0	$0
Employee benefits not included above	$0	$0	$0	$0
Payroll taxes	$0	$0	$0	$0
Professional fundraising fees	$0	$0	$0	$0
Accounting fees	$2,455	$2,455	$0	$0
Legal fees	$0	$0	$0	$0
Supplies	$0	$0	$0	$0
Telephone	$0	$0	$0	$0
Postage and shipping	$0	$0	$0	$0
Occupancy	$0	$0	$0	$0
Equipment rental and maintenance	$0	$0	$0	$0
Printing and publications	$0	$0	$0	$0
Travel	$0	$0	$0	$0
Conferences, conventions, and meetings	$0	$0	$0	$0
Interest	$484,543	$484,543	$0	$0
Depreciation, depletion, etc.	$1,021,346	$1,021,346	$0	$0
Other expenses not covered above	$11,407	$11,407	$0	$0

	2000	2001	2002	2003	2004	2005
Balance Sheets
Total assets	$21,525,238	$37,923,475	$28,649,675	$21,694,795	$21,639,053	$20,625,067
Cash - non-interest-bearing	$15	$15	$15	$15	$15	$15
Savings and temporary cash investments	$89,400	$17,672,416	$6,418,924	$626,901	$2,048,921	$2,067,687
Accounts receivable less allowance for doubtful accounts	$0	$0	$0	$0	$0	$0
Pledges receivable less allowance for doubtful accounts	$0	$0	$0	$0	$0	$0
Grants receivable	$0	$0	$0	$0	$0	$0
Receivables from current and former officers, directors, trustees, and key employees	$0	$0	$0	$0	$0	$0
Receivables from other disqualified persons (as defined under section 4958(f)(1)) and persons described in section 4958(c)(3)(B)
Other notes and loans receivable less allowance for doubtful accounts	$0	$0	$0	$0	$0	$0
Inventories for sale or use	$0	$0	$0	$0	$0	$0
Prepaid expenses and deferred charges	$235,114	$0	$0	$0	$0	$0
Investments - publicly-traded securities
Investments - other securities	$0	$0	$0	$0	$0	$0
Investments - land, buildings, and equipment less accumulated depreciation	$0	$0	$0	$0	$0	$0
Investments - other	$0	$0	$0	$0	$0	$0
Land, buildings, and equipment less accumulated depreciation	$20,796,328	$19,853,785	$20,338,008	$20,476,955	$19,460,637	$18,439,292
Other assets, including program-related investments	$404,381	$397,259	$1,892,728	$590,924	$129,480	$118,073
Total liabilities	$21,972,239	$38,073,035	$25,719,269	$20,019,182	$18,709,067	$16,356,421
Accounts payable and accrued expenses	$21,972,239	$714,733	$377,128	$285,522	$1,675,765	$1,643,119
Grants payable	$0	$0	$0	$0	$0	$0
Deferred revenue	$0	$0	$0	$0	$0	$0
Loans from officers, directors, trustees, and key employees	$0	$0	$0	$0	$0	$0
Tax-exempt bond liabilities	$0	$0	$0	$0	$0	$0
Mortgages and other notes payable	$0	$0	$0	$0	$0	$0
Other liabilities	$0	$37,358,302	$25,342,141	$19,733,660	$17,033,302	$14,713,302
Total liabilities and net assets/fund balances	$21,525,238	$37,923,475	$28,649,675	$21,694,795	$21,639,053	$20,625,067
Total net assets or fund balances	$-447,001	$-149,560	$2,930,406	$1,675,613	$2,929,986	$4,268,646

	2000	2001	2002	2003	2004	2005
Reconciliation of Revenue per Audited Financial Statements With Revenue per Return
Total revenue	$0	$0	$0	$0	$0	$0
Total revenue, gains, and other support per audited financial statements	$0	$0	$0	$0	$0	$0
Other expenses	$0	$0	$0	$0	$0	$0
Net unrealized gains on investments	$0	$0	$0	$0	$0	$0
Donated services and use of facilities	$0	$0	$0	$0	$0	$0
Recoveries of prior year grants	$0	$0	$0	$0	$0	$0
Other	$0	$0	$0	$0	$0	$0
Other revenue	$0	$0	$0	$0	$0	$0
Investment expenses	$0	$0	$0	$0	$0	$0
Other	$0	$0	$0	$0	$0	$0

	2000	2001	2002	2003	2004	2005
Reconciliation of Expenses per Audited Financial Statements With Expenses per Return
Total expenses	$0	$0	$0	$0	$0	$0
Total expenses and losses per audited financial statements	$0	$0	$0	$0	$0	$0
Other revenue	$0	$0	$0	$0	$0	$0
Donated services and use of facilities	$0	$0	$0	$0	$0	$0
Prior year adjustments	$0	$0	$0	$0	$0	$0
Losses	$0	$0	$0	$0	$0	$0
Other	$0	$0	$0	$0	$0	$0
Other expenses	$0	$0	$0	$0	$0	$0
Investment expenses	$0	$0	$0	$0	$0	$0
Other	$0	$0	$0	$0	$0	$0

Current Officers, Directors, Trustees, and Key Employees

Total number of officers, directors, and trustees permitted to vote on organization business at board meetings	3
Are any officers, directors, trustees, or key employees listed in Form 990, Part V-A, or highest compensated employees listed in Schedule A, Part I, or highest compensated professional and other independent contractors listed in Schedule A, Part II-A or II-B, related to each other through family or business relationships?	No
Do any officers, directors, trustees, or key employees listed in Form 990, Part V-A, or highest compensated employees listed in Schedule A, Part I, or highest compensated professional and other independent contractors listed in Schedule A, Part II-A or II-B, receive compensation from any other organizations, whether tax exempt or taxable, that are related to the organization?	No
Does the organization have a written conflict of interest policy?	No

Other Information
Did the organization have unrelated business gross income of $1,000 or more during the year covered by this return, and has it filed a tax return on Form 990-T for this year?	No
Was there a liquidation, dissolution, termination, or substantial contraction during the year?	No
Is the organization related (other than by association with a statewide or nationwide organization) through common membership, governing bodies, trustees, officers, etc., to any other exempt or nonexempt organization?	No
Direct and indirect political expenditures	$0
Did the organization file Form 1120-POL for this year?	No
Were substantially all dues nondeductible by members?	No
Did the organization make only in-house lobbying expenditures of $2,000 or less?	No
Dues, assessments, and similar amounts from members	$0
Section 162(e) lobbying and political expenditures	$0
Aggregate nondeductible amount of section 6033(e)(1)(A) dues notices	$0
Taxable amount of lobbying and political expenditures	$0
Does the organization elect to pay the section 6033(e) tax on the amount above?	No
If section 6033(e)(1)(A) dues notices were sent, does the organization agree to add the amount above to its reasonable estimate of dues allocable to nondeductible lobbying and political expenditures for the following tax year?	No
Initiation fees and capital contributions	$0
Gross receipts for public use of club facilities	$0
At any time during the year, did the organization, directly or indirectly, own a controlled entity within the meaning of section 512(b)(13)?
Amount of tax imposed on the organization during the year under: section 4911	$0
Amount of tax imposed on the organization during the year under: section 4912	$0
Amount of tax imposed on the organization during the year under: section 4955	$0
Did the organization engage in any section 4958 excess benefit transaction during the year or did it become aware of an excess benefit transaction from a prior year?	No
Amount of tax imposed on the organization managers or disqualified persons during the year under sections 4912, 4955, and 4958	$0
Amount of tax above, reimbursed by the organization	$0
At any time during the tax year, was the organization a party to a prohibited tax shelter transaction?
Did the organization acquire a direct or indirect interest in any applicable insurance contract?
Did the supporting organization, or a fund maintained by a sponsoring organization, have excess business holdings at any time during the year?
Number of employees employed in the pay period that includes March 12, 2006	0

	Unrelated business income		Excluded by section 512, 513, or 514		Related or exempt function income
Analysis of Income-Producing Activities (for 2005)
	Business code	Amount	Exclusion code	Amount	Related or exempt function income
Total		$0		$0	$2,863,911
Program service revenue
Program service revenue 1	000000	$0	00	$0	$0
Program service revenue 2	000000	$0	00	$0	$0
Program service revenue 3	000000	$0	00	$0	$0
Program service revenue 4	000000	$0	00	$0	$0
Program service revenue 5	000000	$0	00	$0	$0
Medicare/Medicaid payments	000000	$0	00	$0	$0
Fees and contracts from government agencies	000000	$0	00	$0	$0
Membership dues and assessments	000000	$0	00	$0	$0
Interest on savings and temporary cash investments	000000	$0	00	$0	$18,161
Dividends and interest from securities	000000	$0	00	$0	$0
Net rental income or (loss) from real estate
debt-financed property	000000	$0	00	$0	$2,845,750
not debt-financed property	000000	$0	00	$0	$0
Net rental income or (loss) from personal property	000000	$0	00	$0	$0
Other investment income	000000	$0	00	$0	$0
Gain or (loss) from sales of assets other than inventory	000000	$0	00	$0	$0
Net income or (loss) from special events	000000	$0	00	$0	$0
Gross profit or (loss) from sales of inventory	000000	$0	00	$0	$0
Other revenue	000000	$0	00	$0	$0

EIN of corporation, partnership, or disregarded entity	Percentage of ownership interest	Total income	End-of-year assets
Information Regarding Taxable Subsidiaries and Disregarded Entities (for 2005)
	0%	$0	$0
	0%	$0	$0
	0%	$0	$0
	0%	$0	$0

Compensation	Contributions to employee benefit plans & deferred compensation	Expense account and other allowances
Compensation of the Five Highest Paid Employees Other Than Officers, Directors, and Trustees (for 2005)
$0	$0	$0
$0	$0	$0
$0	$0	$0
$0	$0	$0
$0	$0	$0

Total number of other employees paid over $50,000	0

Total number of other employees paid over $50,000

Statements About Activities (for 2005)
Expenses paid or incurred in connection with the lobbying activities	$0
Did the organization receive or hold an easement for conservation purposes, including easements to preserve open space, the environment, historic land areas or historic structures?
Did the organization provide credit counseling, debt management, credit repair, or debt negotiation services?
Did the organization maintain any donor advised funds?
Did the organization make any taxable distributions under section 4966?
Did the organization make a distribution to a donor, donor advisor, or related person?
The total number of donor advised funds owned at the end of the tax year
The aggregate value of assets held in all donor advised funds owned at the end of the tax year
The total number of separate funds or accounts owned at the end of the tax year (excluding donor advised funds included above) where donors have the right to provide advice on the distribution or investment of amounts in such funds or accounts
The aggregate value of assets held in all funds or accounts included above at the end of the tax year

Reason for Non-Private Foundation Status
The organization is not a private foundation because it is

	1999	2000	2001	2002	2003	2004
Support Schedule
Total	$0	$0	$0	$0	$0	$0
Gifts, grants, and contributions received	$0	$0	$0	$0	$0	$0
Membership fees received	$0	$0	$0	$0	$0	$0
Gross receipts from admissions, merchandise sold or services performed, or furnishing of facilities in any activity that is related to the organization's charitable, etc., purpose	$0	$0	$0	$0	$0	$0
Gross income from interest, dividends, amounts received from payments on securities loans (section 512(a)(5)), rents, royalties, and unrelated business taxable income (less section 511 taxes) from businesses acquired by the organization after June 30, 1975	$0	$0	$0	$0	$0	$0
Net income from unrelated business activities not included above	$0	$0	$0	$0	$0	$0
Tax revenues levied for the organization's benefit and either paid to it or expended on its behalf	$0	$0	$0	$0	$0	$0
The value of services or facilities furnished to the organization by a governmental unit without charge. Do not include the value of services or facilities generally furnished to the public without charge	$0	$0	$0	$0	$0	$0
Other income	$0	$0	$0	$0	$0	$0

Lobbying Expenditures by Electing Public Charities (for 2005)
Total exempt purpose expenditures	$0
Total lobbying expenditures	$0
Total lobbying expenditures to influence public opinion (grassroots lobbying)	$0
Total lobbying expenditures to influence a legislative body (direct lobbying)	$0
Other exempt purpose expenditures	$0
Lobbying nontaxable amount	$0
Grassroots nontaxable amount	$0

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Id	Name	Address	State	Established	Total Income
Organizations performing similar types of work
1	Western Carolina University Research & Development Corporation	Hfr Administration Bldg Ste 312, Cullowhee, NC 28723	NC	2002-08	$3,575,122
2	Twin Lakes School Building Improvement Corporation	565 S Main St, Monticello, IN 47960-2473	IN	1990-10	$2,863,911
3	Network Of Quality Education Inc	101 W Ohio St Ste 700, Indianapolis, IN 46204-1973	IN	2007-03	$873,720
4	Washington Township Schools Foundation Inc	8550 Woodfield Crossing Blvd, Indianapolis, IN 46240-2478	IN	1985-11	$569,601
5	Zionsville Education Foundation Inc	900 Mulberry St, Zionsville, IN 46077-1141	IN	2002-02	$290,430
6	Winfield Jerry Ross Elementary Schools Parent Teacher Organizatn, Winfield Jerry Ross Elmntry Schls P	13128 Montgomery St, Crown Point, IN 46307-9258	IN	2003-11	$104,745
7	Beech Grove Band Boosters	PO BOX 522, Beech Grove, IN 46107-0522	IN	2007-02	$89,910
8	Sounds Of South Inc	1965 S Walnut St, Bloomington, IN 47401-6529	IN	2006-07	$49,631
9	Cannelton Education Foundation Inc	321 Washington Street, Cannelton, IN 47520	IN	2011-07	$0
10	Childrens Language Foundation Inc	10582 Brooks School Road, Fishers, IN 46037	IN	2002-10	$0
11	Clay City Elementary School Pto	681 Lankford St, Clay City, IN 47841	IN	2006-01	$0
12	Club Applesauce Corporation	2219 Tam-O-Shanter Ct, Carmel, IN 46032	IN	2011-08	$0
13	Danville Parents Supporting Students Organization Inc	1425 West Lincoln Street, Danville, IN 46122	IN	2010-09	$0
14	Educational Helpers Inc	90 N Scotscraig Dr, Valparaiso, IN 46385	IN	2010-07	$0
15	Newtons Apples Inc	7049 S Meridian St, Indianapolis, IN 46217	IN	2011-09	$0
16	Red Alert Robotics Parent Organization, Red Alert Robotics	704 S Sr Rd 135 Ste D Box 236, Greenwood, IN 46143	IN	2007-06	$0
17	Rossville Music Boosters	Po Box 410, Rossville, IN 46065	IN	2003-10	$0
18	Schoolhouse Partners Education Foundation Inc	8029 N Dog Trot Ln, Morgantown, IN 46160-8957	IN	2006-08	$0
19	South Bend Community School Corporation 2002 Building Corp	215 S Saint Joseph St, South Bend, IN 46601-2003	IN	2003-04	$0
20	South Putnam Community Education Foundation	PO BOX 863, Greencastle, IN 46135	IN	2008-05	$0

Number of organizations performing similar types of work

Alaska	2
Alabama	9
Arkansas	7
Arizona	14
California	131
Colorado	23
Connecticut	14
District of Columbia	5
Delaware	7
Florida	31
Georgia	22
Hawaii	3
Iowa	11
Idaho	7
Illinois	40
Indiana	22
Kansas	9
Kentucky	9
Louisiana	11
Massachusetts	36
Maryland	14
Maine	7
Michigan	31
Minnesota	27
Missouri	18
Mississippi	4

Montana	7
North Carolina	27
North Dakota	1
Nebraska	5
New Hampshire	6
New Jersey	43
New Mexico	3
Nevada	2
New York	77
Ohio	45
Oklahoma	15
Oregon	19
Pennsylvania	37
Rhode Island	7
South Carolina	13
South Dakota	4
Tennessee	11
Texas	70
Utah	7
Virginia	20
Vermont	4
Washington	42
Wisconsin	18
West Virginia	1
Wyoming	6
International	1

Total

1,005

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