Ordean Foundation
- Assets
- $40.5m
- Revenue
- $9.4m
- Investments
- $37.7m
- Employees
- 0
- Location
- Duluth, MN
- Founding
- 10/1934
- Data as of
- 12/2023
- EIN
- 41-0711611
Organization Overview
Ordean Foundation is located in Duluth, MN. The organization was established in 1934. 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. Ordean 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 12/2023, Ordean Foundation generated $9.4m in total revenue. This organization has experienced exceptional growth, as over the past 5 years, it has increased revenue by an average of 29.8% each year . All expenses for the organization totaled $2.2m during the year ending 12/2023. You can explore the organizations financials more deeply in the financial statements section below.
Since 2020, Ordean Foundation has awarded 166 individual grants totaling $5,885,300. 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 |
|---|---|---|---|
Donald Ness Executive Director | 40 | $180,249 | |
John Strange Chair | 1 | $0 | |
Jon Nelson Previous Board Chair | 1 | $0 | |
Marcus Jones Vice Chair | 1 | $0 | |
Marsha Hystead Secretary | 1 | $0 | |
Traci Morris Treasurer | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $100 |
| Interest on Savings | $0 |
| Dividends & Interest | $1,202,852 |
| Net Rental Income | $0 |
| Net Gain on Sale of Assets | $8,163,975 |
| Capital Gain Net Income | $8,163,975 |
| Net ST Capital Gain | $0 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $0 |
| Other Income | $20,444 |
| Total Revenue | $9,387,371 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $180,249 |
| Other employee salaries and wages | $37,320 |
| Pension plans, employee benefits | $96,310 |
| Interest | $0 |
| Taxes | $144,517 |
| Depreciation | $13,206 |
| Occupancy | $41,430 |
| Travel, conferences, and meetings | $4,422 |
| Printing and publications | $29,141 |
| Other expenses | $986 |
| Total operating and administrative expenses | $674,181 |
| Contributions, gifts, grants paid | $1,505,000 |
| Total expenses and disbursements | $2,179,181 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $182,860 |
| Savings and temporary cash investments | $1,309,705 |
| Net Accounts receivable | $1,462 |
| Net Pledges Receivable | $0 |
| Grants receivable | $0 |
| Receivables from Officers, Directors, or Controlling Persons | $0 |
| Net other notes and loans receivable | $960,000 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $10,077 |
| Net Investments - land, buildings, equipment | $594 |
| Investments—mortgage loans | $0 |
| Investments—other | $4,934,292 |
| Net Land, buildings, and equipment | $93,021 |
| Other assets | $294,059 |
| Total assets | $40,542,651 |
| Accounts payable and accrued expenses | $2,301 |
| 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 | $335,488 |
| Total liabilities | $337,789 |
Grants Awarded
Over the last fiscal year, Ordean Foundation has awarded $1,505,000 in support to 50 organizations.
| Grant Recipient | Amount |
|---|---|
AFTENRO SOCIETY PURPOSE: AFTENRO COMMUNITY VAN REPAIRS | $20,000 |
AMERICAN INDIAN COMMUNITY HOUSING ORGANIZATION PURPOSE: GENERAL OPERATING SUPPORT, CHUCK WALT'S OUTGOING DIRECTORS GIFT | $42,500 |
ANIMAL ALLIES HUMANE SOCIETY PURPOSE: SPONSORSHIP GRANT | $500 |
BOYS AND GIRLS CLUB OF THE NORTHLAND PURPOSE: GENERAL OPERATING SUPPORT | $50,000 |
CHESTER BOWL IMPROVEMENT CLUB PURPOSE: GENERAL OPERATING SUPPORT | $10,000 |
CHILDREN'S DENTAL SERVICES PURPOSE: COMPREHENSIVE DENTAL CARE, OUD EDUCATION AND TOBACCO CESSATION PROGRAM | $10,000 |