Crossroads College Foundation
- Assets
- $2.1m
- Revenue
- $127.2k
- Investments
- $0.0
- Employees
- 0
- Location
- Rochester, MN
- Founding
- 08/1981
- Data as of
- 06/2022
- EIN
- 41-1390775
Organization Overview
Crossroads College Foundation is located in Rochester, MN. The organization was established in 1981. According to its NTEE Classification (B42) the organization is classified as: Undergraduate Colleges, 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. Crossroads College 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, Crossroads College Foundation generated $127.2k in total revenue. This organization has experienced exceptional growth, as over the past 6 years, it has increased revenue by an average of 63.9% each year .
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2022
Describe the Organization's Mission:
Part 3 - Line 1
THE FOUNDATION EXISTS TO SUPPORT CHRIST-CENTERED EDUCATION.
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE FOUNDATION SOLICITS, RECEIVES AND MANAGES CONTRIBUTIONS FOR THE PURPOSE OF PROVIDING FINANCIAL ASSISTANCE TO QUALIFIED AND SELECTED APPLICANTS. SCHOLARSHIPS ARE PROVIDED TO (1) STUDENTS LOOKING TO ATTEND A CHRISTIAN UNIVERSITY AND/OR (2) CHURCHES SEEKING TO TRAIN ITS EXISTING LEADERS. A SIGNIFICANT PORTION OF THE FOUNDATION'S PROGRAMS IS TO OVERSEE AND MANAGE AN INVESTMENT ACCOUNT HELD FOR THE BENEFIT OF CROSSROADS CHURCH PARTNERS PROGRAMS.
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PDF Copies of 990 Filings
Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Gene Peters Chair | OfficerTrustee | 2 | $0 |
Cindy Winter Secretary | OfficerTrustee | 1 | $0 |
Kevin Blanchard Vice Chair | OfficerTrustee | 1 | $0 |
Randall Munson Trustee | Trustee | 1 | $0 |
Mark Krause Trustee | Trustee | 1 | $0 |
Aaron Jones Trustee | Trustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $0 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $0 |
| Total Program Service Revenue | $0 |
| Investment income | $95,495 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $31,655 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $127,150 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $1,000 |
| Grants and other assistance to domestic individuals. | $105,838 |
| 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 | $123 |
| Fees for services: Accounting | $3,685 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $13,076 |
| Fees for services: Other | $0 |
| Advertising and promotion | $4,847 |
| Office expenses | $0 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $4,101 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $696 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $2,000 |
| Insurance | $0 |
| All other expenses | $0 |
| Total functional expenses | $177,500 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $11,246 |
| Savings and temporary cash investments | $41,156 |
| Pledges and grants receivable | $0 |
| 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 | $0 |
| Prepaid expenses and deferred charges | $0 |
| Net Land, buildings, and equipment | $7,758 |
| Investments—publicly traded securities | $931,471 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $1,067,915 |
| Total assets | $2,059,546 |
| Accounts payable and accrued expenses | $0 |
| 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 | $10,498 |
| Total liabilities | $10,498 |
| Net assets without donor restrictions | $0 |
| Net assets with donor restrictions | $2,049,048 |
| 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 | $2,059,546 |
Endowment Analysis
| Beg. Balance | $2,159,740 |
| Earnings | $127,150 |
| Grants | $106,838 |
| Ending Balance | $2,180,052 |
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