Ridgeview Foundation
- Assets
- $22.1m
- Revenue
- $2.2m
- Investments
- $0.0
- Employees
- 0
- Location
- Waconia, MN
- Founding
- 06/1978
- Data as of
- 12/2022
- EIN
- 41-1328097
Organization Overview
Ridgeview Foundation is located in Waconia, MN. The organization was established in 1978. 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. Ridgeview 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 12/2022, Ridgeview Foundation generated $2.2m in total revenue. This represents a relatively dramatic decline in revenue. Over the past 8 years, the organization has seen revenues fall by an average of (7.8%) each year. All expenses for the organization totaled $2.8m during the year ending 12/2022. 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
2022
Describe the Organization's Mission:
Part 3 - Line 1
TO MAKE A POSITIVE DIFFERENCE IN THE QUALITY OF LIFE AND HEALTH FOR THE PEOPLE OF OUR AREA.
Describe the Organization's Program Activity:
Part 3 - Line 4a
TO RAISE FUNDS FOR THE BENEFIT OF RIDGEVIEW MEDICAL CENTER, A NOT-FOR-PROFIT HOSPITAL IN WACONIA, MINNESOTA. DURING 2022, RIDGEVIEW FOUNDATION EXPENDED $2,284,260 TO RIDGEVIEW MEDICAL CENTER. OF THIS, $1,535,077 WAS TRANSFERRED TO OUR "CAUSE FOR COMMUNITY" CAMPAIGN, WHICH IS A FUND THAT ALLOWS US TO BETTER MEDICALLY SUPPORT THE 300,000 RESIDENTS WITHIN OUR SEVEN-COUNTY SERVICE AREA, $119,057 WAS TRANSFERRED TO SUPPORT COVID-RELATED ACTIVITIES, AND $310,000 WAS TRANSFERRED TO THE HOSPITAL TO SUPPORT THE BUILDING AND FURNISHING OF AN EMERGENCY DEPARTMENT EXPANSION. THE REMAINING $342,234 WAS TRANSFERRED TO THE HOSPITAL FOR VARIOUS PROJECTS AND PROGRAMS DURING 2022.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Michael Phelps President/ceo | Officer | 0.5 | $0 |
Aaron Bloomquist CFO | Officer | 4 | $0 |
Douglas Stasek Executive Director | Officer | 47.5 | $0 |
Jon Crow Chair & Board Member | OfficerTrustee | 0.5 | $0 |
Carla Struble Board Member & Chair | OfficerTrustee | 0.5 | $0 |
Kathryn Barnes Vice Chair & Board Member | OfficerTrustee | 0.5 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $978,526 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $1,344,844 |
| Noncash contributions included in lines 1a–1f | $121,053 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $2,323,370 |
| Total Program Service Revenue | $0 |
| Investment income | $328,792 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | -$79,738 |
| Net Income from Fundraising Events | -$410,141 |
| Net Income from Gaming Activities | -$4,084 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $2,158,199 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $2,371,000 |
| Grants and other assistance to domestic individuals. | $30,000 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $0 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $0 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $21,640 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $134,014 |
| Fees for services: Other | $0 |
| Advertising and promotion | $0 |
| Office expenses | $0 |
| 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 | $0 |
| Insurance | $0 |
| All other expenses | $206,849 |
| Total functional expenses | $2,763,503 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $918,303 |
| Savings and temporary cash investments | $232,732 |
| Pledges and grants receivable | $1,152,604 |
| Accounts receivable, net | $57,857 |
| 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 | $0 |
| Investments—publicly traded securities | $14,664,396 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $5,096,284 |
| Total assets | $22,122,176 |
| Accounts payable and accrued expenses | $184,786 |
| 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 | $979,058 |
| Total liabilities | $1,163,844 |
| Net assets without donor restrictions | $13,756,157 |
| Net assets with donor restrictions | $7,202,175 |
| 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 | $22,122,176 |
Grants Awarded
Over the last fiscal year, Ridgeview Foundation has awarded $2,371,000 in support to 3 organizations.
| Grant Recipient | Amount |
|---|---|
RIDGEVIEW MEDICAL CENTER PURPOSE: FUNDRAISING SUPPORT OF RIDGEVIEW MEDICAL CENTER | $2,209,837 |
SIBLEY MEDICAL CENTER PURPOSE: FUNDRAISING SUPPORT OF SIBLEY MEDICAL CENTER | $103,250 |
MINNESOTA VALLEY HEALTH CENTER PURPOSE: FUNDRAISING SUPPORT OF MINNESOTA VALLEY HEALTH CENTER | $57,913 |