Better Way Foundation
- Assets
- $67.6m
- Revenue
- $11.5m
- Investments
- $62.9m
- Employees
- 0
- Location
- Minneapolis, MN
- Founding
- 12/1988
- Data as of
- 12/2021
- EIN
- 36-3608625
Organization Overview
Better Way Foundation is located in Minneapolis, MN. The organization was established in 1988. According to its NTEE Classification (T20) the organization is classified as: Private Grantmaking Foundations, under the broad grouping of Philanthropy, Voluntarism & Grantmaking Foundations and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Better Way 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, Better Way Foundation generated $11.5m in total revenue. This organization has experienced exceptional growth, as over the past 3 years, it has increased revenue by an average of 22.6% each year . All expenses for the organization totaled $1.6m during the year ending 12/2021. You can explore the organizations financials more deeply in the financial statements section below.
Since 2019, Better Way Foundation has awarded 203 individual grants totaling $12,237,977. 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.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Gia Rauenhorst President/chair | 1 | $0 | |
Jan Andreas Hipple 122 - 322 Vice President | 40 | $208,755 | |
Kate Seng 322 - 922 Vice President | 8 | $19,598 | |
Suzanne Flannigan 922 - 1022 Vice President | 1 | $849 | |
Nicholas Banovetz 1022 - 1222 Vice President | 40 | $40,879 | |
Patrice Kunesh Treasurer/director | 1 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Ghr Foundation | 12/30/22 | $326,790 |
Lyman Executive Search Llc | 12/30/22 | $60,162 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $0 |
| Interest on Savings | $23,292 |
| Dividends & Interest | $0 |
| Net Rental Income | $0 |
| Net Gain on Sale of Assets | $0 |
| Capital Gain Net Income | $8,480,646 |
| Net ST Capital Gain | $0 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $0 |
| Other Income | $11,449,544 |
| Total Revenue | $11,472,836 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $0 |
| Other employee salaries and wages | $0 |
| Pension plans, employee benefits | $0 |
| Interest | $0 |
| Taxes | $58,926 |
| Depreciation | $0 |
| Occupancy | $0 |
| Travel, conferences, and meetings | $1,120 |
| Printing and publications | $0 |
| Other expenses | $46,197 |
| Total operating and administrative expenses | $648,622 |
| Contributions, gifts, grants paid | $956,729 |
| Total expenses and disbursements | $1,605,351 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $300 |
| Savings and temporary cash investments | $2,973,131 |
| Net Accounts receivable | $12,083 |
| Net Pledges Receivable | $0 |
| Grants receivable | $0 |
| Receivables from Officers, Directors, or Controlling Persons | $0 |
| Net other notes and loans receivable | $0 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $0 |
| Net Investments - land, buildings, equipment | $0 |
| Investments—mortgage loans | $0 |
| Investments—other | $62,904,075 |
| Net Land, buildings, and equipment | $0 |
| Other assets | $1,750,000 |
| Total assets | $67,639,589 |
| Accounts payable and accrued expenses | $145,166 |
| Grants payable | $1,442,981 |
| Deferred revenue | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Mortgages and other notes payable | $0 |
| Other liabilities | $0 |
| Total liabilities | $1,588,147 |
Grants Awarded
Over the last fiscal year, Better Way Foundation has awarded $2,750,506 in support to 50 organizations.
| Grant Recipient | Amount |
|---|---|
ARCHDIOCESE OF SAINT PAUL AND MINNEAPOLIS PURPOSE: PROGRAMS FOR HEALING RELATED TO THE AMERICAN INDIAN BOARDING SCHOOL ERA | $15,000 |
DENVER INDIAN CENTER PURPOSE: HONORING FATHERHOOD PROGRAM TO SUPPORT PROGRAM ENGAGEMENT/ACTIVITIES/SUPPLIES | $5,000 |
DE LA SALLE BLACKFEET SCHOOL PURPOSE: SPECIAL PROJECTS INITIATIVE 2022-2023 | $30,000 |
COMANCHE LANGUAGE AND CULTURAL PRESERVATION COMMITTEE PURPOSE: BUILDING THE CAPACITY OF CLCPC | $100,000 |
CHILDREN IN CROSSFIRE TANZANIA PURPOSE: BUILDING THE CAPACITY AND LEADERSHIP OF TECDEN | $100,000 |
DENVER INDIAN CENTER PURPOSE: HONORING FATHERHOOD PROGRAM | $5,000 |