Marvin And Betty Borman Foundation
- Assets
- $8.6m
- Revenue
- $712.6k
- Investments
- $8.4m
- Employees
- 0
- Location
- Deephaven, MN
- Founding
- 07/1985
- Data as of
- 12/2023
- EIN
- 41-1506784
Organization Overview
Marvin And Betty Borman Foundation is located in Deephaven, MN. The organization was established in 1985. 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. Marvin And Betty Borman 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 12/2023, Marvin And Betty Borman Foundation generated $712.6k in total revenue. This represents relatively stable growth, over the past 5 years the organization has increased revenue by an average of 2.4% each year. All expenses for the organization totaled $613.9k during the year ending 12/2023. You can explore the organizations financials more deeply in the financial statements section below.
Since 2020, Marvin And Betty Borman Foundation has awarded 27 individual grants totaling $2,833,805. 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
990PF
Mission & Program ActivityExcerpts From the 990PF Filing
TAX YEAR
2023
Describe the Organization's Program Activity:
Part 3 - Line 4a
N/A
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Elizabeth Borman President & Treasurer | 1 | $0 | |
Thomas Borman Vice President | 0.1 | $0 | |
Jane Ross Vice President | 0.1 | $0 | |
Kimberly Borman Vice President | 0.1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $0 |
| Interest on Savings | $250 |
| Dividends & Interest | $179,296 |
| Net Rental Income | $0 |
| Net Gain on Sale of Assets | $533,039 |
| Capital Gain Net Income | $533,039 |
| Net ST Capital Gain | $0 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $0 |
| Other Income | $16 |
| Total Revenue | $712,601 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $0 |
| Other employee salaries and wages | $0 |
| Pension plans, employee benefits | $0 |
| Interest | $0 |
| Taxes | $62 |
| Depreciation | $0 |
| Occupancy | $0 |
| Travel, conferences, and meetings | $0 |
| Printing and publications | $0 |
| Other expenses | $25 |
| Total operating and administrative expenses | $123,339 |
| Contributions, gifts, grants paid | $490,571 |
| Total expenses and disbursements | $613,910 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $12,987 |
| Savings and temporary cash investments | $188,667 |
| 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 | $0 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $0 |
| Net Investments - land, buildings, equipment | $0 |
| Investments—mortgage loans | $0 |
| Investments—other | $437,805 |
| Net Land, buildings, and equipment | $0 |
| Other assets | $122 |
| Total assets | $8,647,308 |
| 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, Marvin And Betty Borman Foundation has awarded $490,571 in support to 9 organizations.
| Grant Recipient | Amount |
|---|---|
PLANNED PARENTHOOD LEAGUE OF MASSACHUSETTS INC PURPOSE: GENERAL FUNDING | $90,000 |
PLANNED PARENTHOOD NORTHERN CALIFORNIA PURPOSE: GENERAL FUNDING | $90,000 |
HUBERT H HUMPHREY SCHOOL OF PUBLIC AFFAIRS PURPOSE: MICHAEL O. FREEMAN FELLOWSHIP | $30,000 |
OUR JUSTICE PURPOSE: GENERAL FUNDING | $50,000 |
EASTERN MASSACHUSETTS ABORTION FUND PURPOSE: GENERAL FUNDING | $50,000 |
ACCESS REPRODUCTIVE JUSTICE PURPOSE: GENERAL FUNDING | $50,000 |