Tornquist Family Foundation
- Assets
- $1.0m
- Revenue
- $207.1k
- Investments
- $671.1k
- Employees
- 0
- Location
- Bloomington, IL
- Founding
- 07/2001
- Data as of
- 12/2021
- EIN
- 37-1406955
Organization Overview
Tornquist Family Foundation is located in Bloomington, IL. The organization was established in 2001. According to its NTEE Classification (B82) the organization is classified as: Scholarships & Student Financial Aid, under the broad grouping of Education and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Tornquist Family 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, Tornquist Family Foundation generated $207.1k in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 4.9% each year. All expenses for the organization totaled $242.2k during the year ending 12/2021. While expenses have increased by 9.7% per year over the past 7 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.
Since 2016, Tornquist Family Foundation has awarded 72 individual grants totaling $515,473. 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
990PF
Mission & Program ActivityExcerpts From the 990PF Filing
TAX YEAR
2021
Describe the Organization's Program Activity:
Part 3 - Line 4a
TO ASSIST DESERVING FAMILIES IN ACHIEVING THEIR DREAMS OF HOME OWNERSHIP AND TO IMPROVE THEIR QUALITY OF LIFE.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
John Tornquist President | 7 | $0 | |
Jeanette Tornquist Treasurer | 20 | $0 | |
Randy Tornquist Director | 0 | $0 | |
Kimberly Nave Director | 0 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $82,500 |
| Interest on Savings | $28 |
| Dividends & Interest | $0 |
| Net Rental Income | -$4,187 |
| Net Gain on Sale of Assets | $91,176 |
| Capital Gain Net Income | $91,176 |
| Net ST Capital Gain | $0 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $0 |
| Other Income | $0 |
| Total Revenue | $207,099 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $0 |
| Other employee salaries and wages | $0 |
| Pension plans, employee benefits | $0 |
| Interest | $0 |
| Taxes | $13,447 |
| Depreciation | $8,024 |
| Occupancy | $0 |
| Travel, conferences, and meetings | $0 |
| Printing and publications | $0 |
| Other expenses | $14,586 |
| Total operating and administrative expenses | $37,582 |
| Contributions, gifts, grants paid | $204,652 |
| Total expenses and disbursements | $242,234 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $255,646 |
| Net Accounts receivable | $14,051 |
| 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 | $76,762 |
| Investments—mortgage loans | $0 |
| Investments—other | $671,104 |
| Net Land, buildings, and equipment | $0 |
| Other assets | $0 |
| Total assets | $1,017,563 |
| Accounts payable and accrued expenses | $0 |
| Grants payable | $0 |
| 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 | $0 |
Grants Awarded
Over the last fiscal year, Tornquist Family Foundation has awarded $204,652 in support to 23 organizations.
| Grant Recipient | Amount |
|---|---|
OTHER MISC DONATIONS PURPOSE: SUPPORT OF CHARITABLE PURPOSE | $103,802 |
SALVATION ARMY PURPOSE: SUPPORT OF CHARITABLE PURPOSE | $30,000 |
Normal, IL PURPOSE: SUPPORT OF CHARITABLE PURPOSE | $17,500 |
Phoenix, AZ PURPOSE: SUPPORT OF CHARITABLE PURPOSE | $12,500 |
Bloomington, IL PURPOSE: SUPPORT OF CHARITABLE PURPOSE | $10,000 |
AMERICAN RED CROSS PURPOSE: SUPPORT OF CHARITABLE PURPOSE | $4,500 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
National Equity Fund Inc Chicago, IL | $118,912,735 | $59,533,345 |
Iowa Student Loan Liquidity Corp West Des Moines, IA | $1,230,053,718 | $45,688,659 |
National Merit Scholarship Corporation Evanston, IL | $183,825,978 | $50,191,294 |
Evans Scholars Foundation Glenview, IL | $101,873,087 | $62,566,812 |
Northwestern Mutual Life Foundation Inc Milwaukee, WI | $106,326,341 | $38,353,841 |
Cardinal Services Inc Of Indiana Warsaw, IN | $28,675,162 | $26,373,889 |
Future Leaders Of Americafoundation Inc Chicago, IL | $0 | $13,517,008 |
Kansas City Scholars Inc Kansas City, MO | $5,810,030 | $12,156,402 |
Des Moines Golf And Country Club West Des Moines, IA | $24,329,403 | $13,657,003 |
Ray And Kay Eckstein Charitable Trust Paducah, KY | $358,796,277 | $128,951,866 |
Professional Convention Management Association Chicago, IL | $13,503,434 | $11,522,188 |
Sigma Chi Foundation Evanston, IL | $40,441,719 | $12,690,646 |