The Edina Community Foundation
- Assets
- $1.0m
- Revenue
- $537.0k
- Investments
- $616.6k
- Employees
- 6
- Location
- Edina, MN
- Founding
- 03/1978
- Data as of
- 06/2022
- EIN
- 41-1315037
Organization Overview
The Edina Community Foundation is located in Edina, MN. The organization was established in 1978. According to its NTEE Classification (T30) the organization is classified as: Public Foundations, under the broad grouping of Philanthropy, Voluntarism & Grantmaking Foundations and related organizations. As of 06/2022, Edina Community Foundation employed 6 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Edina Community 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 06/2022, Edina Community Foundation generated $537.0k in total revenue. This represents a relatively dramatic decline in revenue. Over the past 7 years, the organization has seen revenues fall by an average of (5.2%) each year. All expenses for the organization totaled $548.1k during the year ending 06/2022. As we would expect to see with falling revenues, expenses have declined by (0.1%) per year over the past 7 years. You can explore the organizations financials more deeply in the financial statements section below.
Since 2015, Edina Community Foundation has awarded 113 individual grants totaling $2,485,280. 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
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2022
Describe the Organization's Mission:
Part 3 - Line 1
THE FOUNDATION IS ORGANIZED AND OPERATED EXCLUSIVELY FOR CHARITABLE AND EDUCATIONAL PURPOSES, EXCLUSIVELY FOR THE BENEFIT OF THE EDINA COMMUNITY.
Describe the Organization's Program Activity:
Part 3 - Line 4a
PROVIDE A CENTRAL SOURCE FOR RECEIVING GIFTS AND MAKING GRANTS FOR THE BENEFIT OF THE CITY OF EDINA AND OTHER LOCAL CIVIC GROUPS.
PROVIDE PROGRAMS AND CELEBRATIONS TO ENHANCE THE EDINA COMMUNITY. PROGRAMS INCLUDED JULY 4TH PARADE, CONNECTING WITH KIDS, EDINA CHALLENGE, EDINA DIALOGUE AND, CHARITABLE PARTNER SERVICES.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Dick Crockett Executive Director | Officer | 25 | $42,000 |
Steffen Hovard Vice President | Officer | 1 | $0 |
Tom Gump President | Officer | 1 | $0 |
Sheila Berube Treasurer | Officer | 1 | $0 |
Caroline Correia Secretary | Officer | 1 | $0 |
Robert Blanton Board Member | Trustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $28,332 |
| All other contributions, gifts, grants, and similar amounts not included above | $378,090 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $406,422 |
| Total Program Service Revenue | $71,874 |
| Investment income | $58,736 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $537,032 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $265,026 |
| 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. | $42,000 |
| Compensation of current officers, directors, key employees. | $12,600 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $89,708 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $10,320 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $0 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $500 |
| Office expenses | $1,297 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $0 |
| 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 | $1,452 |
| Insurance | $3,308 |
| All other expenses | $6,996 |
| Total functional expenses | $548,055 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $332,688 |
| Pledges and grants receivable | $47,885 |
| 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 | $8,143 |
| Prepaid expenses and deferred charges | $2,229 |
| Net Land, buildings, and equipment | $7,504 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $616,621 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $1,015,070 |
| Accounts payable and accrued expenses | $59,825 |
| 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 | $2,733 |
| Total liabilities | $62,558 |
| Net assets without donor restrictions | $206,741 |
| Net assets with donor restrictions | $745,771 |
| 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 | $1,015,070 |
Grants Awarded
Over the last fiscal year, The Edina Community Foundation has awarded $245,086 in support to 15 organizations.
| Grant Recipient | Amount |
|---|---|
IKOLA CUP PURPOSE: SUPPORT FOR HOCKEY PROGRAMS AND SCHOLARSHIPS | $68,652 |
CHOWEN PARK INITIATIVE PURPOSE: SUPPORT FOR CHOWEN PARK INITIATIVE | $28,530 |
EDINA BOYS VARSITY HOCKEY PURPOSE: SUPPORT OF HOCKEY PLAYERS FOR THE EDINA HIGH SCHOOL | $16,549 |
BOWL HOLE INC PURPOSE: SUPPORT FOR BOWEL HOLE INC | $16,264 |
EDINA SENIOR CLASS PARTY PURPOSE: SUPPORT FOR EDINA SENIOR CLASS | $14,824 |
EDINA HIGH SCHOOL RENUNION CLASS 1971 PURPOSE: SUPPORT FOR REUNION CLASS | $12,644 |
Grants Recieved
Over the last fiscal year, we have identified 1 grants that The Edina Community Foundation has recieved totaling $250.
| Awarding Organization | Amount |
|---|---|
Albright Foundation Edina, MN PURPOSE: CHARITABLE | $250 |
Endowment Analysis
| Beg. Balance | $383,856 |
| Ending Balance | $383,856 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Thedacare Family Of Foundations Inc Appleton, WI | $89,256,611 | $25,439,996 |
The Hormel Foundation Austin, MN | $1,540,722,314 | $34,366,937 |
South Dakota Community Foundation Pierre, SD | $805,282,495 | $215,504,617 |
Society Of St Vincent De Paul- Twin Cities Minneapolis, MN | $592,562 | $17,408,500 |
Northland Foundation Duluth, MN | $110,895,270 | $27,913,272 |
David Lynch Foundation For Consciousness-Based Education And Fairfield, IA | $9,280,358 | $8,736,448 |
Steve Stricker American Family Insurance Foundation Inc Madison, WI | $5,745,517 | $4,719,862 |
Hope Gospel Mission Inc Eau Claire, WI | $10,860,307 | $6,194,588 |
Community Foundation Of Johnson Coralville, IA | $45,550,796 | $9,673,780 |
The American Center For Philanthropy Inc Northfield, MN | $38,336,369 | $9,301,432 |
Lyon County Riverboat Foundation Inc Rock Rapids, IA | $2,226,608 | $3,365,358 |
Morgan Memorial Foundation Inc Morgan, MN | $3,017,509 | $3,804,451 |