Minot Community Foundation
- Assets
- $41.2m
- Revenue
- $16.8m
- Investments
- $39.4m
- Employees
- 3
- Location
- Minot, ND
- Founding
- 05/2002
- Data as of
- 12/2021
- EIN
- 01-0589927
Organization Overview
Minot Community Foundation is located in Minot, ND. The organization was established in 2002. According to its NTEE Classification (S20) the organization is classified as: Community & Neighborhood Development, under the broad grouping of Community Improvement & Capacity Building and related organizations. As of 12/2021, Minot Community Foundation employed 3 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Minot Community Foundation is a 501(c)(3) and as such, is described as a "Charitable or Religous organization or a private foundation" by the IRS.
For the year ending 12/2021, Minot Community Foundation generated $16.8m in total revenue. This organization has experienced exceptional growth, as over the past 7 years, it has increased revenue by an average of 33.6% each year . All expenses for the organization totaled $1.2m during the year ending 12/2021. You can explore the organizations financials more deeply in the financial statements section below.
Since 2015, Minot Community Foundation has awarded 234 individual grants totaling $7,174,794. If you would like to learn more about the grant giving history of this organization, scroll down to the grant profile section of this page.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2021
Describe the Organization's Mission:
Part 3 - Line 1
SUPPORT AND IMPROVE PUBLIC WELL-BEING.
Describe the Organization's Program Activity:
Part 3 - Line 4a
AWARD GRANTS TO PUBLIC AND CHARITABLE ORGANIZATIONS AND INDIVIDUALS.
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PDF Copies of 990 Filings
Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Jason Zimmerman President | Officer | 30 | $94,725 |
Ross Johnson Finance & Investment Chair | OfficerTrustee | 1 | $0 |
Reed Argent Chairman Of The Board | OfficerTrustee | 2 | $0 |
Perry Olson Treasurer | OfficerTrustee | 1 | $0 |
Debbie Harris Secretary | OfficerTrustee | 1 | $0 |
Tom Probst Vice Chairman | OfficerTrustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $15,436,913 |
| Noncash contributions included in lines 1a–1f | $2,750 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $15,436,913 |
| Total Program Service Revenue | $0 |
| Investment income | $604,396 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $9,415 |
| Net Rental Income | $6,600 |
| Net Gain/Loss on Asset Sales | $724,990 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $16,782,314 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $780,504 |
| Grants and other assistance to domestic individuals. | $0 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $94,725 |
| Compensation of current officers, directors, key employees. | $22,942 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $91,127 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $10,665 |
| Payroll taxes | $12,275 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $22,665 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $114,904 |
| Fees for services: Other | $0 |
| Advertising and promotion | $0 |
| Office expenses | $9,880 |
| Information technology | $2,458 |
| Royalties | $0 |
| Occupancy | $8,681 |
| Travel | $626 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $1,815 |
| Insurance | $3,526 |
| All other expenses | $50 |
| Total functional expenses | $1,165,760 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $685,302 |
| Savings and temporary cash investments | $1,099,128 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $0 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $0 |
| Net Land, buildings, and equipment | $7,708 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $39,423,644 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $9,332 |
| Total assets | $41,225,114 |
| Accounts payable and accrued expenses | $0 |
| Grants payable | $402,804 |
| Deferred revenue | $0 |
| Tax-exempt bond liabilities | $0 |
| Escrow or custodial account liability | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $0 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $1,632,861 |
| Total liabilities | $2,035,665 |
| Net assets without donor restrictions | $806,180 |
| Net assets with donor restrictions | $38,383,269 |
| Capital stock or trust principal, or current funds | $0 |
| Paid-in or capital surplus, or land, building, or equipment fund | $0 |
| Retained earnings, endowment, accumulated income, or other funds | $0 |
| Total liabilities and net assets/fund balances | $41,225,114 |
Grants Awarded
Over the last fiscal year, Minot Community Foundation has awarded $730,078 in support to 43 organizations.
| Grant Recipient | Amount |
|---|---|
Minot, ND PURPOSE: TO ASSIST THE ORGANIZATION WITH CARRYING OUT OF ITS TAX EXEMPT MISSION. | $125,000 |
Minot, ND PURPOSE: TO ASSIST THE ORGANIZATION WITH CARRYING OUT OF ITS TAX EXEMPT MISSION. | $47,410 |
Minot, ND PURPOSE: TO ASSIST THE ORGANIZATION WITH CARRYING OUT OF ITS TAX EXEMPT MISSION. | $38,101 |
MINOT COMMISSION ON AGING PURPOSE: TO ASSIST THE ORGANIZATION WITH CARRYING OUT OF ITS TAX EXEMPT MISSION. | $36,499 |
Minot, ND PURPOSE: TO ASSIST THE ORGANIZATION WITH CARRYING OUT OF ITS TAX EXEMPT MISSION. | $32,500 |
OUR REDEEMERS CHRISTIAN SCHOOL PURPOSE: TO ASSIST THE ORGANIZATION WITH CARRYING OUT OF ITS TAX EXEMPT MISSION. | $28,131 |
Grants Recieved
Over the last fiscal year, we have identified 1 grants that Minot Community Foundation has recieved totaling $3,000.
| Awarding Organization | Amount |
|---|---|
Xcel Energy Foundation Minneapolis, MN PURPOSE: 2020 EDUCATION GRANT | $3,000 |
Endowment Analysis
| Beg. Balance | $21,428,801 |
| Earnings | $2,906,490 |
| Net Contributions | $15,225,881 |
| Other Expense | $974,145 |
| Ending Balance | $38,587,027 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Mahube-Otwa Community Action Partnership Inc Detroit Lakes, MN | $6,691,451 | $20,228,935 |
Three Rivers Community Action Inc Zumbrota, MN | $34,597,275 | $14,786,149 |
West Central Minnesota Communities Action Inc Elbow Lake, MN | $6,410,822 | $11,174,117 |
Montana Community Development Corporation Missoula, MT | $128,107,962 | $17,427,104 |
Beacon Interfaith Housing Collaborative Saint Paul, MN | $38,850,974 | $10,667,246 |
Lakes And Pines Community Action Council Inc Mora, MN | $3,434,723 | $9,795,071 |
Rocky Mountain Development Council Inc Helena, MT | $19,568,493 | $12,980,509 |
Kootasca Community Action Inc Grand Rapids, MN | $3,733,183 | $8,667,071 |
St Paul Auto Dealers And District 77 Lodge Iamaw Joint Fund Bloomington, MN | $6,441,158 | $6,840,517 |
Community Facility Public Private Partnerships Minnetonka, MN | $139,342,573 | $6,847,373 |
Emerge Community Development Minneapolis, MN | $6,688,888 | $6,982,216 |
Southwestern Minnesota Opportunity Council Inc Worthington, MN | $6,681,573 | $5,602,564 |