2024-11-15T17:15:35-06:00 2022-12-31 411281737 MILLER MCDONALD INC 513 BELTRAMI AVE NW BEMIDJI MN 56601 990 2022-01-01 462579700 LEECH LAKE FINANCIAL SERVICES INC LEEC 2183393940 PO BOX 848 CASS LAKE MN 56633 ROBERT AITKEN EXECUTIVE DIRECTOR 2183393940 2024-11-15 1 0 JON ROSCOE P01312456 2187516300 2022 2024-10-15 13:58:12Z ROBERT AITKEN PO BOX 848 CASS LAKE MN 56633 704238 0 X WWW.LLFINANCIAL.ORG X 2014 MN TO PROMOTE ECONOMIC DEVELOPMENT BY PROVIDING SAFE, AFFORDABLE LOANS AND FINANCIAL TRAINING. 6 6 7 0 0 0 545600 651173 46931 53065 0 0 1200 0 593731 704238 0 0 0 0 266115 346585 0 0 0 210460 354478 476575 701063 117156 3175 1315355 1772149 642466 1096085 672889 676064 TO PROMOTE ECONOMIC DEVELOPMENT BY PROVIDING SAFE, AFFORDABLE LOANS AND FINANCIAL TRAINING. 0 0 414694 53065 THE LOAN PROGRAMS PROVIDED MORE THAN 200 LOANS TO INDIVIDUALS AND BUSINESS WHO NORMALLY WOULDN'T QUALIFY FOR A CONVENTIONAL LOAN. THE PROGRAM ALSO PROVIDES FINANCIAL TRAINING. 414694 1 1 0 0 0 0 0 0 0 0 1 0 0 0 1 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 1 0 0 0 0 1 11 0 7 0 0 0 0 0 0 0 0 0 0 0 X 6 6 0 0 0 0 0 0 0 1 1 0 0 1 1 0 1 0 0 0 0 0 MN X LEECH LAKE FINANCIAL SERVICES INC 2183393940 113 SPRUCE AVE NE CASS LAKE MN 56633 WILLIAM ETHIER CHAIR 2.00 X 0 0 0 BREANNA MIETTINEN DIRECTOR 2.00 X 0 0 0 SARAH KUESEL SECRETARY 2.00 X 0 0 0 KATIE GUTHRIE DIRECTOR 1.00 X 0 0 0 GORDON FINEDAY VICE CHAIR 2.00 X 0 0 0 JEFF EVERHART TREASURER 2.00 X 0 0 0 JAIMEE MEYER DIRECTOR 1.00 X 0 0 0 ROB AITKEN EXECUTIVE DIRECTOR 40.00 X 83946 0 0 PAM SPONG OPERATIONS & FINANCE MANAGER 40.00 X 78164 0 0 162110 0 0 0 0 0 0 0 301663 349510 651173 INTEREST INCOME 522291 45534 45534 FEE INCOME 522291 7531 7531 53065 704238 53065 0 0 X 286751 110748 176003 34973 11956 23017 24861 9728 15133 9975 9975 179671 179671 20374 16250 4124 29210 1390 27820 7744 7744 23083 20983 2100 3814 3814 17287 10886 6401 9418 4740 4678 BAD DEBT EXPENSE 36428 36428 MISCELLANEOUS 17474 8100 9374 701063 414694 286369 0 593082 800060 48118 202527 4320 15643 393568 449591 347317 42989 276267 304328 1315355 1772149 49830 63622 111148 474892 108318 102961 373170 454610 642466 1096085 X 261902 289546 410987 386518 672889 676064 1315355 1772149 3175 0 X 0 1 X 0 0 X 428833 223321 462056 545600 651173 2310983 428833 223321 462056 545600 651173 2310983 2310983 30 30 16485 1200 138 17823 2328836 226950 0.99230 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 270451 19196 251255 30226 23793 6433 46640 46640 304328 OTHER 13610 NOTE PAYABLE 441000 454610 X 704238 0 704238 0 704238 701063 0 701063 0 701063 PART X, LINE 2: THE ORGANIZATION FOLLOWS THE RECOGNITION REQUIREMENTS FOR UNCERTAIN INCOME TAX POSITIONS AS REQUIRED BY GENERALLY ACCEPTED ACCOUNTING PRINCIPLES, WITH NO CUMULATIVE EFFECT ADJUSTMENT REQUIRED. THE GUIDANCE PRESCRIBES RECOGNITION THRESHOLD PRINCIPLES FOR THE FINANCIAL STATEMENTS RECOGNITION OF TAX POSITIONS TAKEN OR EXPECTED TO BE TAKEN ON A TAX FILING THAT ARE NOT CERTAIN TO BE REALIZED. THE IMPLEMENTATION OF THIS GUIDANCE HAD NO IMPACT ON THE ORGANIZATION'S FINANCIAL STATEMENTS. THE ORGANIZATION'S TAX FILINGS ARE SUBJECT TO REVIEW AND EXAMINATION BY FEDERAL AUTHORITIES. THE ORGANIZATION IS NOT AWARE OF ANY ACTIVITIES THAT WOULD JEOPARDIZE ITS TAX EXEMPT STATUS, OR ANY ACTIVITIES THAT ARE SUBJECT TO TAX ON UNRELATED BUSINESS INCOME, OR OTHER TAXES. FORM 990, PART VI, SECTION B, LINE 11B RETURN IS PRESENTED TO ALL BOARD MEMBERS FOR APPROVAL AT A BOARD MEETING FORM 990, PART VI, SECTION B, LINE 12C CONFLICTS, IF ANY, ARE DISCLOSED AT BOARD MEETINGS FORM 990, PART VI, SECTION C, LINE 19 ALL REQUIRED DOCUMENTS TO BE MADE PUBLIC ARE AVAILABLE UPON REQUEST. FORM 990, PART IX, LINE 11G PROGRAM SUPPORT: PROGRAM SERVICE EXPENSES 179,671. MANAGEMENT AND GENERAL EXPENSES 0. FUNDRAISING EXPENSES 0. TOTAL EXPENSES 179,671. BUILD ONE PROPERTIES LLC 113 SPRUCE AVE NE CASS LAKE MN 56633 ECONOMIC DEVELOPMENT MN LEECH LAKE FINANCIAL SERVICES INC THE ORGANIZATION BELIEVES IT HAS REASONABLE CAUSE FOR REQUESTING THE IRS TO ABATE THE LATE-FILING PENALTIES. THE ORGANIZATION IS NOT AWARE OF ALL OF THE IRS FILING REQUIREMENTS; THEREFORE, WE CONTRACT WITH A LOCAL CPA TO ASSIST US WITH THE FILINGS. THE LOCAL CPA WHO PREPARED THE ORGANIZATION'S 990 FILES AN EXTENSION FOR THE 990 AND PREPARED THE RETURN AT A LATER DATE. THE CPA RELEASES THE RETURN TO THE IRS ELECTRONICALLY. WHEN THE RETURN WAS UPLOADED, THE ELECTRONIC FILE DID NOT RELEASE TO THE IRS. WE BELIEVED THE RETURN WAS RELEASED TO THE IRS ON TIME, HOWEVER, WE DID NOT HAVE CONTROLS IN PLACE TO VERIFY SUBMISSION TO THE IRS. THE ISSUE WAS DISCOVERED WHILE COMPLETING THE RETURN FOR THE DECEMBER 31, 2023 YEAR-END. WE HAVE IMPLEMENTED CONTROLS TO DOCUMENT AND RETAIN THE DOCUMENTATION WITH SUBMISSION AND ACCEPTANCE DATES TO ENSURE WE MEET IRS REPORTING DEADLINES. WE RESPECTFULLY REQUEST THAT THE IRS ABATE ALL ASSESSED PENALTIES AND INTEREST, IF ANY, RELATED TO OUR DECEMBER 31, 2022 FORM 990.