Sit Investment Associates Foundation
- Assets
- $40.5m
- Revenue
- $6.7m
- Investments
- $40.1m
- Employees
- 0
- Location
- Minneapolis, MN
- Founding
- 07/1984
- Data as of
- 12/2021
- EIN
- 41-1468021
Organization Overview
Sit Investment Associates Foundation is located in Minneapolis, MN. The organization was established in 1984. 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. Sit Investment Associates 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 12/2021, Sit Investment Associates Foundation generated $6.7m in total revenue. This represents relatively stable growth, over the past 4 years the organization has increased revenue by an average of 6.1% each year. All expenses for the organization totaled $2.9m during the year ending 12/2021. While expenses have increased by 13.1% per year over the past 4 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.
Since 2020, Sit Investment Associates Foundation has awarded 251 individual grants totaling $5,101,500. 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 |
|---|---|---|---|
Paul E Rasmussen Secretary | 1 | $0 | |
Roger J Sit Voting Member | 1 | $0 | |
Carla J Rose Voting Member | 1 | $0 | |
Debra K Beaudet Asst. Secretary | 1 | $0 | |
Ronald D Sit Director | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $1,298,601 |
| Interest on Savings | $302 |
| Dividends & Interest | $425,088 |
| Net Rental Income | $0 |
| Net Gain on Sale of Assets | $5,002,819 |
| Capital Gain Net Income | $5,014,801 |
| Net ST Capital Gain | $0 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $0 |
| Other Income | $11,045 |
| Total Revenue | $6,737,855 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $0 |
| Other employee salaries and wages | $0 |
| Pension plans, employee benefits | $0 |
| Interest | $0 |
| Taxes | $85,000 |
| Depreciation | $0 |
| Occupancy | $0 |
| Travel, conferences, and meetings | $0 |
| Printing and publications | $0 |
| Other expenses | $10,289 |
| Total operating and administrative expenses | $101,489 |
| Contributions, gifts, grants paid | $2,800,500 |
| Total expenses and disbursements | $2,901,989 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $464,503 |
| Savings and temporary cash investments | $0 |
| Net Accounts receivable | $0 |
| Net Pledges Receivable | $0 |
| Grants receivable | $0 |
| Receivables from Officers, Directors, or Controlling Persons | $0 |
| Net other notes and loans receivable | $5,558 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $0 |
| Net Investments - land, buildings, equipment | $0 |
| Investments—mortgage loans | $0 |
| Investments—other | $424,242 |
| Net Land, buildings, and equipment | $0 |
| Other assets | $0 |
| Total assets | $40,547,261 |
| Accounts payable and accrued expenses | $0 |
| 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 | $0 |
| Total liabilities | $0 |
Grants Awarded
Over the last fiscal year, Sit Investment Associates Foundation has awarded $2,800,500 in support to 131 organizations.
| Grant Recipient | Amount |
|---|---|
MINNESOTA MILITARY & VETERANS MUSEUM PURPOSE: OPERATING | $400,000 |
Minneapolis, MN PURPOSE: OPERATING | $332,750 |
Minneapolis, MN PURPOSE: OPERATING | $200,000 |
Owatonna, MN PURPOSE: OPERATING | $150,000 |
FOOD GROUP THE PURPOSE: OPERATING | $120,000 |
SECOND HARVEST HEARTLAND PURPOSE: OPERATING | $120,000 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Charles K Blandin Foundation Grand Rapids, MN | $0 | $24,073,238 |
Reiman Foundation Inc Pewaukee, WI | $64,480,239 | $12,529,672 |
American Family Insurance Dreams Foundation Inc Madison, WI | $10,733,127 | $6,580,229 |
Joseph And Vera Zilber Charitable Foundation Inc Milwaukee, WI | $301,880,639 | $24,555,392 |
Argosy Foundation Milwaukee, WI | $36,932,110 | $41,277,914 |
Cargill Foundation Minneapolis, MN | $286,172,868 | $105,535,102 |
Schoeneckers Foundation Minneapolis, MN | $145,295,949 | $7,540,866 |
The Curtis L Carlson Family Foundation Minnetonka, MN | $300,826,673 | $21,132,663 |
Principal Financial Group Foundation Inc Des Moines, IA | $217,742,870 | $19,396,180 |
Herbert H Kohl Charities Inc Milwaukee, WI | $19,332,679 | $4,430,173 |
Andreas Foundation Mankato, MN | $70,794,995 | $28,410,107 |
Frechette Family Foundation Minneapolis, MN | $167,055,978 | $9,430,765 |