Benedictine Foundation
- Assets
- $15.2m
- Revenue
- $4.1m
- Investments
- $0.0
- Employees
- 0
- Location
- Minneapolis, MN
- Founding
- 03/1946
- Data as of
- 06/2021
- EIN
- 41-1513014
Organization Overview
Benedictine Foundation is located in Minneapolis, MN. The organization was established in 1946. According to its NTEE Classification (E12) the organization is classified as: Fund Raising & Fund Distribution, under the broad grouping of Health Care and related organizations. This organization is a subordinate organization within an affiliated group for tax-exemption purposes. Benedictine 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 06/2021, Benedictine Foundation generated $4.1m in total revenue. This represents a relatively dramatic decline in revenue. Over the past 6 years, the organization has seen revenues fall by an average of (3.7%) each year. All expenses for the organization totaled $3.4m during the year ending 06/2021. As we would expect to see with falling revenues, expenses have declined by (7.9%) per year over the past 6 years. You can explore the organizations financials more deeply in the financial statements section below.
Since 2015, Benedictine Foundation has awarded 123 individual grants totaling $18,984,571. 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
2021
Describe the Organization's Mission:
Part 3 - Line 1
COORDINATE, ENCOURAGE, MOTIVATE AND SUPPORT THE FUND DEVELOPMENT ACTIVITY EFFORT WITHIN BHS
Describe the Organization's Program Activity:
Part 3 - Line 4a
"PHILANTHROPY IS KEY TO OUR MISSION AND OUR ABILITY TO SERVE THOSE MOST IN NEED. PHILANTHROPY IS A POTENT TOOL IN HELPING US HELP OTHERS. IT FUELS INNOVATION, CARE TECHNOLOGIES, RECREATION AND FITNESS PROGRAMS, AND HOMELIKE SPACES TO PUT LOVED ONES AT EASE. PHILANTHROPY ALSO ALLOWS US TO OFFER SOME OF HTE HIGH-TOUCH, COMFORT CARE PROGRAMS THAT MAKE ALL THE DIFFERENCE IN THE DAY TO DAY LIFE BUT ARE LARGELY, IF NOT COMPLETELY, UNREIMBURSIBLE.IN FISCAL YEAR 2021, $1,801,122 IN PHILANTHROPIC DOLLARS SUPPORTED RESIDENT AND EMPLOYEE PROGRAMS AND CAPITALIZED FACILITY IMPROVEMENTS AND EQUIPMENT.SINCE 2008, MORE THAN $35,000,000 HAS BEEN USED TO FUND RESIDENT AND EMPLOYEE PROGRAMS, FACILITY IMPROVMENTS AND EQUIPMENT.ASSOCATIATES (EMPLOYEES) OF BENEDICTINE PROVIDE FURTHER SUPPORT OF THE MISSION BY FUNDING VARIOUS PROGRAMS. FUNDS RAISED THROUGH ASSOCIATE GIVING ARE USED TO FUND THE FULFILLMENT OF RESIDENTS' DREAMS, ENHANCE SPIRITUAL CARE AND OTHER PROGRAMS AND HELP FUND COMMUNITY CAPITAL PROJECTS."
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Jane Dolter Board Chair | OfficerTrustee | 1 | $0 |
Laurie Hennen President | OfficerTrustee | 40 | $0 |
Lee Larson Former President | OfficerTrustee | 40 | $0 |
Kevin Greff Vice Chair | OfficerTrustee | 1 | $0 |
Jerry Carley CEO Of Bhs | Officer | 1 | $0 |
Kevin Rymanowski CFO Of Bhs | Officer | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $7,440 |
| Related organizations | $1,507,037 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $2,353,382 |
| Noncash contributions included in lines 1a–1f | $20,653 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $3,867,859 |
| Total Program Service Revenue | $4,749 |
| Investment income | $59,116 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $119,768 |
| Net Income from Fundraising Events | $615 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $4,052,107 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $1,359,722 |
| 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. | $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 | $6,550 |
| Fees for services: Accounting | $26,038 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $1,632,552 |
| Advertising and promotion | $11,035 |
| Office expenses | $262,319 |
| Information technology | $8,834 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $8,337 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $22,860 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $0 |
| All other expenses | $25 |
| Total functional expenses | $3,445,665 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $3,573,690 |
| Savings and temporary cash investments | $265,761 |
| Pledges and grants receivable | $39,890 |
| 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 | $0 |
| Investments—publicly traded securities | $10,465,926 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $818,569 |
| Total assets | $15,163,836 |
| 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 | $119,606 |
| Total liabilities | $119,606 |
| Net assets without donor restrictions | $3,908,179 |
| Net assets with donor restrictions | $11,136,051 |
| 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 | $15,163,836 |
Grants Awarded
Over the last fiscal year, Benedictine Foundation has awarded $2,207,623 in support to 17 organizations.
| Grant Recipient | Amount |
|---|---|
Minneapolis, MN PURPOSE: CAPITAL FUND/SUPPORT | $744,586 |
Minneapolis, MN PURPOSE: CAPITAL FUND/SUPPORT | $346,425 |
Minneapolis, MN PURPOSE: CAPITAL FUND/SUPPORT | $218,912 |
Minneapolis, MN PURPOSE: CAPITAL FUND/SUPPORT | $158,477 |
St Louis, MO PURPOSE: CAPITAL FUND/SUPPORT | $129,937 |
Minneapolis, MN PURPOSE: CAPITAL FUND/SUPPORT | $111,414 |
Grants Recieved
Over the last fiscal year, we have identified 1 grants that Benedictine Foundation has recieved totaling $8,200.
| Awarding Organization | Amount |
|---|---|
Leadingage Minnesota Foundation St Paul, MN PURPOSE: ADULT DAY COVID-19 FUNDS | $8,200 |
Endowment Analysis
| Beg. Balance | $493,608 |
| Earnings | $96,476 |
| Net Contributions | $5,313 |
| Grants | $9,368 |
| Ending Balance | $586,029 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Childrens Health Care Foundation Minneapolis, MN | $90,729,243 | $25,438,436 |
Iowa Health Foundation Des Moines, IA | $224,193,770 | $32,909,877 |
Great River Health System Inc West Burlington, IA | $45,236,336 | $11,348,232 |
Mercy Foundation Of Des Moines Iowa Des Moines, IA | $72,079,814 | $11,993,555 |
Legacy Foundation Of Central Wisconsin Inc Wisconsin Rapids, WI | $142,600,446 | $4,980,958 |
Sanford Health Foundation North Sioux Falls, SD | $106,387,743 | $12,791,067 |
Marshfield Clinic Health System Foundation Inc Marshfield, WI | $149,772,122 | $21,068,703 |
Dakota Medical Foundation Fargo, ND | $43,203,440 | $5,722,440 |
Gillette Childrens Hospital Foundation St Paul, MN | $41,489,322 | $14,728,152 |
Lifescape Sioux Falls, SD | $318,250 | $4,148,590 |
Benedictine Foundation Minneapolis, MN | $15,163,836 | $4,052,107 |
Miller Dwan Foundation Duluth, MN | $37,367,884 | $5,122,936 |