Philanthrofund Foundation
- Assets
- $1.2m
- Revenue
- $913.9k
- Investments
- $0.0
- Employees
- 5
- Location
- St Louis Park, MN
- Founding
- 09/1988
- Data as of
- 06/2023
- EIN
- 36-3567019
Organization Overview
Philanthrofund Foundation is located in St Louis Park, MN. The organization was established in 1988. According to its NTEE Classification (R11) the organization is classified as: Single Organization Support, under the broad grouping of Civil Rights, Social Action & Advocacy and related organizations. As of 06/2023, Philanthrofund Foundation employed 5 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Philanthrofund 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 06/2023, Philanthrofund Foundation generated $913.9k in total revenue. This organization has experienced exceptional growth, as over the past 8 years, it has increased revenue by an average of 11.8% each year . All expenses for the organization totaled $1.1m during the year ending 06/2023. While expenses have increased by 9.3% per year over the past 8 years. They've been increasing with an increasing level of total revenue. You can explore the organizations financials more deeply in the financial statements section below.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2023
Describe the Organization's Mission:
Part 3 - Line 1
PFUND FOUNDATION IS A VITAL RESOURCE AND COMMUNITY BUILDER FOR LESBIAN, GAY, BISEXUAL, TRANSGENDER, QUEER AND ALLIED COMMUNITIES BY PROVIDING GRANTS AND SCHOLARSHIPS, DEVELOPING LEADERS, AND INSPIRING GIVING.
Describe the Organization's Program Activity:
Part 3 - Line 4a
PFUND FOUNDATION PROVIDED SCHOLARSHIPS TO 52 LGBTQ INDIVIDUALS SEEKING FINANCIAL SUPPORT FOR POST-SECONDARY EDUCATION AND TRAINING ACROSS A VARIETY OF EDUCATIONAL PROGRAMS IN THE UPPER MIDWEST. PFUND FOUNDATION AWARDED 17 LGBTQ+ LED AND SERVING NON-PROFIT ORGANIZATIONS WORKING IN RURAL COMMUNITIES ACROSS THE UPPER MIDWEST.PFUND FOUNDATION AWARDED 10 LGBTQ+ BIPOC SMALL BUSINESSES TO GROW AND STRENGTHEN THEIR LEADERSHIP AND BUSINESS AND PROVIDED BUSINESSES EDUCATIONAL RESOURCES.PFUND FOUNDATION PROVIDED GRANTS TO LGBTQ NON-PROFITS ACROSS THE UPPER MIDWEST EXPERIENCING THE IMPACTS OF THE COVID-19 PANDEMIC. PFUND FOUNDATION AWARDED MORE 10 NON-PROFITS WITH EVENT SPONSORSHIPS IN ORDER TO CONVENE LGBTQ FOLKS ACROSS THE REGION OF THE UPPER MIDWEST.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Becky Smith President | OfficerTrustee | 2 | $0 |
Dan Livak Current Treasurer | OfficerTrustee | 2 | $0 |
Sara Radjenovic Secretary | OfficerTrustee | 2 | $0 |
Sarah Julius Vice President | OfficerTrustee | 2 | $0 |
Patricia Nelson Governance Committee Chair | Trustee | 1 | $0 |
Alissa Light Director | Trustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $31,260 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $872,142 |
| Noncash contributions included in lines 1a–1f | $14,847 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $903,402 |
| Total Program Service Revenue | $6,798 |
| Investment income | $27,952 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | -$8,253 |
| Net Income from Fundraising Events | -$16,017 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $913,882 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $418,428 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $115,422 |
| Compensation of current officers, directors, key employees. | $19,654 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $249,983 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $23,556 |
| Payroll taxes | $31,156 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $30,000 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $37,850 |
| Fees for services: Investment Management | $1,993 |
| Fees for services: Other | $36,580 |
| Advertising and promotion | $11,295 |
| Office expenses | $19,167 |
| Information technology | $34,642 |
| Royalties | $0 |
| Occupancy | $18,757 |
| Travel | $1,931 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $8,578 |
| Interest | $1,111 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $0 |
| All other expenses | $0 |
| Total functional expenses | $1,063,197 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $176,499 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $175,700 |
| 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 | $10,145 |
| Net Land, buildings, and equipment | $0 |
| Investments—publicly traded securities | $813,833 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $895 |
| Total assets | $1,177,072 |
| Accounts payable and accrued expenses | $13,674 |
| Grants payable | $1,000 |
| 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 | $0 |
| Total liabilities | $14,674 |
| Net assets without donor restrictions | $788 |
| Net assets with donor restrictions | $1,161,610 |
| 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 | $1,177,072 |
Grants Awarded
Over the last fiscal year, Philanthrofund Foundation has awarded $153,860 in support to 20 organizations.
| Grant Recipient | Amount |
|---|---|
BLACK HILLS CENTER FOR EQUALI PURPOSE: GRANT | $10,000 |
AMHERST H WILDER FOUNDATION PURPOSE: GRANT | $10,000 |
FAMILY PARTNERSHIP PURPOSE: GRANT | $6,000 |
FISCAL AGENT ND HUMAN RIGHTS PURPOSE: GRANT | $9,930 |
FREEDOM INC PURPOSE: GRANT | $7,000 |
GAY STRAIGHT ALLIANCE FOR SAF PURPOSE: GRANT | $7,000 |