Trust Inc
- Assets
- $156.6k
- Revenue
- $434.0k
- Investments
- $0.0
- Employees
- 7
- Location
- Minneapolis, MN
- Founding
- 11/1974
- Data as of
- 12/2023
- EIN
- 41-0965940
Organization Overview
Trust Inc is located in Minneapolis, MN. The organization was established in 1974. According to its NTEE Classification (P20) the organization is classified as: Human Service Organizations, under the broad grouping of Human Services and related organizations. As of 12/2023, Trust Inc employed 7 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Trust Inc 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, Trust Inc generated $434.0k in total revenue. This represents relatively stable growth, over the past 6 years the organization has increased revenue by an average of 2.3% each year. All expenses for the organization totaled $510.7k during the year ending 12/2023. While expenses have increased by 5.4% per year over the past 6 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
SERVICES FOR RESIDENTS IN AREA
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE TRUST MEALS ON WHEELS PROGRAM IS MAKING A DIFFERENCE IN THE LIVES OF HOMEBOUND SENIORS AND OTHERS WHO QUALIFY IN THEIR SERVICE AREA. LAST YEAR, THE PROGRAM DELIVERED OVER 30,000 HOT, NUTRITIOUS MEALS TO 199 PEOPLE WITH THE HELP OF DEDICATED VOLUNTEERS WHO CONTRIBUTED OVER 2,000 HOURS OF THEIR TIME. THE PROGRAM OFFERS BOTH HOT MEAL DELIVERY AND FROZEN MEAL OPTIONS FOR THOSE WHO PREFER IT. TRUST'S MEALS ON WHEELS PROGRAM IS COMMITTED TO PROVIDING HEALTHY MEALS AND HELPING SENIORS MAINTAIN THEIR INDEPENDENCE.
OTHER PROGRAMS
THE TRUST CHORE PROGRAM IS A COST-EFFECTIVE AND RELIABLE HOME SERVICE PROGRAM THAT CATERS TO THE NEEDS OF SENIORS AND INDIVIDUALS LIVING WITH DISABILITIES. WITH A TEAM OF 11 CHORE WORKERS AND VOLUNTEERS, THE PROGRAM OFFERS HOUSE CLEANING, SNOW REMOVAL, YARD WORK, AND MINOR HOME REPAIRS. THE SERVICES PROVIDED BY THE PROGRAM ALLOW PARTICIPANTS TO CONTINUE LIVING SAFELY IN THEIR OWN HOMES, ENSURING THEIR COMFORT AND WELL-BEING. IN 2023, THE PROGRAM SERVED 76 PARTICIPANTS LIVING IN SOUTH MINNEAPOLIS, MAKING A POSITIVE IMPACT ON THEIR LIVES AND THE COMMUNITY AT LARGE. IF YOU OR SOMEONE YOU KNOW COULD BENEFIT FROM THE TRUST CHORE PROGRAM, DON'T HESITATE TO REACH OUT AND TAKE ADVANTAGE OF THESE VALUABLE SERVICES.
TRUST INC TRANSPORTATION SERVICES IS COMMITTED TO PROVIDING SAFE AND RELIABLE TRANSPORTATION FOR SENIORS AND INDIVIDUALS WITH DISABILITIES. OUR PROGRAM OFFERS ASSISTED RIDES TO GROCERY STORES, LOCAL BUSINESSES, BANKS, CLINICS, POST OFFICES, AND COMMUNITY EVENTS, ALLOWING OUR CLIENTS TO MAINTAIN THEIR INDEPENDENCE AND CONNECT WITH OTHERS IN THE COMMUNITY. WITH OUR EXPANSION INTO UNDERSERVED NEIGHBORHOODS IN SOUTH AND SOUTHEAST MINNEAPOLIS, WE ARE NOW ABLE TO REACH EVEN MORE INDIVIDUALS WHO NEED OUR SERVICES THROUGHOUT ALL OF SOUTH MINNEAPOLIS. OUR TEAM HAS GROWN TO INCLUDE FOUR PART-TIME DRIVERS AND THREE VOLUNTEER DRIVERS, WHO HAVE COLLECTIVELY WORKED OVER 1,300 HOURS IN 2023. AT TRUST INC, WE ARE DEDICATED TO ENSURING THAT ALL MEMBERS OF OUR COMMUNITY HAVE ACCESS TO THE RESOURCES THEY NEED TO THRIVE.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Karla Mcgray President | OfficerTrustee | 1 | $0 |
John Pedersen Vice Preside | OfficerTrustee | 1 | $0 |
Tom Erickson Secretary | OfficerTrustee | 1 | $0 |
Deb Hauerwas Treasurer | OfficerTrustee | 1 | $0 |
Mary Corlett Member | Trustee | 1 | $0 |
Jim Ten Bensel Member | Trustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $5,829 |
| Related organizations | $0 |
| Government grants | $53,596 |
| All other contributions, gifts, grants, and similar amounts not included above | $82,139 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $141,564 |
| Total Program Service Revenue | $293,100 |
| Investment income | $100 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | -$764 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $434,000 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| 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. | $85,982 |
| Compensation of current officers, directors, key employees. | $21,495 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $124,394 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $16,205 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $1,375 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $15,622 |
| Advertising and promotion | $168 |
| Office expenses | $31,104 |
| Information technology | $3,780 |
| Royalties | $0 |
| Occupancy | $2,352 |
| Travel | $4,474 |
| 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 | $8,141 |
| Insurance | $16,694 |
| All other expenses | $200,432 |
| Total functional expenses | $510,723 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $10,630 |
| Savings and temporary cash investments | $40,134 |
| Pledges and grants receivable | $13,794 |
| Accounts receivable, net | $47,949 |
| 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 | $44,098 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $156,605 |
| Accounts payable and accrued expenses | $19,789 |
| Grants payable | $0 |
| 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 | $19,789 |
| Net assets without donor restrictions | $136,816 |
| Net assets with donor restrictions | $0 |
| 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 | $156,605 |