Wem Foundation
- Assets
- $121.5m
- Revenue
- $26.4m
- Investments
- $104.0m
- Employees
- 0
- Location
- Minneapolis, MN
- Founding
- 12/1988
- Data as of
- 12/2021
- EIN
- 41-1604640
Organization Overview
Wem Foundation is located in Minneapolis, MN. The organization was established in 1988. 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. Wem 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, Wem Foundation generated $26.4m in total revenue. This represents relatively stable growth, over the past 4 years the organization has increased revenue by an average of 9.8% each year. All expenses for the organization totaled $20.2m during the year ending 12/2021. While expenses have increased by 9.5% 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, Wem Foundation has awarded 266 individual grants totaling $46,913,524. 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 |
|---|---|---|---|
James Hield Director/president | 40 | $228,333 | |
Harriet S Norgren Director | 0.25 | $5,000 | |
Elizabeth S Macmillan Director/vice Chair/sec | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $6,429,678 |
| Interest on Savings | $72,003 |
| Dividends & Interest | $9,876,841 |
| Net Rental Income | $0 |
| Net Gain on Sale of Assets | $9,948,140 |
| Capital Gain Net Income | $9,948,140 |
| Net ST Capital Gain | $0 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $0 |
| Other Income | $43,479 |
| Total Revenue | $26,370,141 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $5,000 |
| Other employee salaries and wages | $322,500 |
| Pension plans, employee benefits | $12,410 |
| Interest | $884 |
| Taxes | $440,605 |
| Depreciation | $126 |
| Occupancy | $52,558 |
| Travel, conferences, and meetings | $0 |
| Printing and publications | $0 |
| Other expenses | $275,965 |
| Total operating and administrative expenses | $1,767,271 |
| Contributions, gifts, grants paid | $18,435,006 |
| Total expenses and disbursements | $20,202,277 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $17,510,312 |
| Net Accounts receivable | $3 |
| 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 | $103,970,450 |
| Net Land, buildings, and equipment | $0 |
| Other assets | $0 |
| Total assets | $121,487,044 |
| Accounts payable and accrued expenses | $696 |
| 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 | $696 |
Grants Awarded
Over the last fiscal year, Wem Foundation has awarded $18,435,006 in support to 130 organizations.
| Grant Recipient | Amount |
|---|---|
FRIENDS OF THE CORNELL LAB OR ORNITHOLOGY PURPOSE: GENERAL | $3,000,000 |
ABBOTT NORTHWESTERN HOSPITAL FOUNDATION PURPOSE: GENERAL | $2,500,000 |
Bozeman, MT PURPOSE: GENERAL | $1,540,000 |
UNIVERSITY OF MINNESOTA FOUNDATION - BELL MUSEUM AND PLANETARIUM PURPOSE: GENERAL | $1,125,000 |
WESTMINSTER PRESBYTERIAN CHURCH PURPOSE: GENERAL | $1,025,000 |
MINNEAPOLIS INSTITUTE OF ART PURPOSE: GENERAL | $835,000 |
Grants Recieved
Over the last fiscal year, we have identified 2 grants that Wem Foundation has recieved totaling $3,357.
| Awarding Organization | Amount |
|---|---|
Sit Investment Associates Foundation Minneapolis, MN PURPOSE: OPERATING | $3,000 |
Amazonsmile Foundation Seattle, WA PURPOSE: GENERAL SUPPORT | $357 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Fred C And Katherine B Andersen Foundation Bayport, MN | $1,210,701,778 | $63,445,932 |
Manitou Fund White Bear Lake, MN | $1,003,593,689 | $40,882,622 |
Lynne & Andrew Redleaf Foundation Minneapolis, MN | $127,717,345 | $981,960 |
Northwest Area Foundation St Paul, MN | $512,755,007 | $38,144,816 |
U S Bancorp Foundation Milwaukee, WI | $68,350,907 | $6,892,078 |
Medtronic Communities Foundation Minneapolis, MN | $54,271,830 | $230,239 |
General Mills Foundation Minneapolis, MN | $0 | -$304,053 |
J A Wedum Foundation Plymouth, MN | $141,295,178 | $28,441,684 |
Bader Philanthropies Inc Milwaukee, WI | $26,809,232 | $30,829,351 |
Kiewit Companies Foundation Milwaukee, WI | $1,050,332 | $23,001,672 |
Target Foundation Minneapolis, MN | $85,335,634 | $55,020,175 |
Wem Foundation Minneapolis, MN | $121,487,044 | $26,370,141 |