Inver Grove Heights B E S T Foundation

Organization Overview

Inver Grove Heights B E S T Foundation is located in Inver Grove Heights, MN. The organization was established in 1992. According to its NTEE Classification (B94) the organization is classified as: Parent & Teacher Groups, 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. Inver Grove Heights B E S T 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, Inver Grove Heights B E S T Foundation generated $127.1k 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 (9.0%) each year. All expenses for the organization totaled $170.9k during the year ending 06/2021. As we would expect to see with falling revenues, expenses have declined by (3.5%) per year over the past 6 years. You can explore the organizations financials more deeply in the financial statements section below.

Mission & Program ActivityExcerpts From the 990 Filing

TAX YEAR

2021

Describe the Organization's Mission:

Part 3 - Line 1

TO RAISE AND AWARD FUNDS FOR POST-SECONDARY SCHOLARSHIPS TO SIMLEY HIGH SCHOOL GRADUATES

Describe the Organization's Program Activity:

Part 3 - Line 4a

IN REFLECTING OVER THE PAST THIRTY YEARS AND ESPECIALLY THE PAST TWO YEARS, IT HAS BEEN VERY OBVIOUS THAT THIS FOUNDATION HAS BEEN BUILT ON A VERY SOLID FOUNDATION. IT IS WITH DEEP GRATITUDE THAT WE HAVE INHERITED A VERY STABLE, REPUTABLE FOUNDATION. EVEN WITH A PANDEMIC IMPACTING THE ENTIRE WORLD, WE WERE ABLE TO STAY TRUE TO OUR MISSION OF RAISING AND AWARDING FUNDS FOR POST-SECONDARY SCHOLARSHIPS TO SIMLEY HIGH SCHOOL GRADUATES. YES, WE HAD TO MAKE CHANGES JUST LIKE THE REST OF THE WORLD. OUR VIRTUAL AWARDS CEREMONIES, A LETTER CAMPAIGN IN PLACE OF A GALA, AND ZOOM BOARD MEETINGS HAVE SERVED US WELL.THANKS TO THE GENEROSITY AND CONTINUED SUPPORT OF INDIVIDUALS, FAMILIES, BUSINESSES AND ORGANIZATIONS WE AWARDED 107 SCHOLARSHIPS WORTH $146,251. WE SELECT RECIPIENTS STARTING WITH HIGHEST DOLLAR VALUES AND WORK OUR WAY THROUGH THE LIST OF SCHOLARSHIPS. THIS PROVIDES A RECIPIENT WITH THE HIGHEST DOLLAR AMOUNT OF A SCHOLARSHIP FOR WHICH THEY QUALIFY. THEREFORE, THREE SCHOLARSHIPS DID GO UNAWARDED AS THEY DID NOT HAVE A RECIPIENT THAT MATCHED THE DONORS SCHOLARSHIP CRITERIA. DURING OUR SCHOLARSHIP PROCESS THE COMMITTEE DOES NOT KNOW THE NAMES OF THE RECIPIENTS UNTIL AFTER THE AWARDS ARE ATTACHED. WE CONTINUE TO REFINE THE PROCESS EVERY YEAR AND WORK CLOSELY WITH THE SIMLEY HIGH SCHOOL CAREER CENTER. OVER THE PAST 10 YEARS, WE HAVE SEEN THIS PROCESS BECOME VERY EFFICIENT FOR BOTH THE RECIPIENTS AND THE FOUNDATION. THE MOST RECENT CHANGE HAS BEEN WHEN THE SCHOLARSHIPS ARE DISBURSED. RECIPIENTS ARE NOW RECEIVING THEIR SCHOLARSHIP FUNDS FOR THE FIRST TERM OF THEIR POST-SECONDARY EDUCATION RATHER THAN HAVING TO COMPLETE A TERM PRIOR TO GETTING THE DISBURSEMENT. OUR PURPOSE WAS TO ENCOURAGE STUDENTS TO TAKE THAT NEXT STEP BEYOND HIGH SCHOOL AND THE FUNDS WOULD BE THERE TO SUPPORT THEM. YES, THE FUNDS ARE SENT DIRECTLY TO THE INSTITUTIONS.FUNDRAISING IS ALWAYS A CHALLENGE, BUT THE PANDEMIC THREW A NEW LEVEL OF CHALLENGE TO THIS. IN THE PAST, B.E.S.T. HAD THREE FUNDRAISERS: MAY DAY 5K, GOLF TOURNAMENT AND A GALA. SINCE FACE-TO-FACE WAS NOT AN OPTION DURING A PANDEMIC, THE FUNDRAISING COMMITTEE GOT CREATIVE. A VIRTUAL MAY DAY 5K, A LETTER GALA CAMPAIGN AND ADDING ONLINE DONATION OPTIONS FOR MEMORIALS. ITS AMAZING WHAT YOU CAN DO WHEN YOU'RE FORCED TO THINK DIFFERENTLY. IN HONORING THOSE BEFORE US, WE ARE FOREVER GRATEFUL TO JILL LEWIS AND HER WISDOM, COURAGE AND PASSION FOR ESTABLISHING THIS FOUNDATION. SHE WAS A WARRIOR WHO BUILT AN INCREDIBLE FOUNDATION THAT HAS AND WILL IMPACT THE LIVES OF MANY SIMLEY HIGH SCHOOL GRADUATES. THANK YOU, JILL! 2021 ANNUAL REPORT IS ONLINE: WWW.IGHBESTFOUNDATION.COM FOLLOW US ON FACEBOOK: IGHBESTFOUNDATION


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Board, Officers & Key Employees

Name (title)Compensation
Cindy Nordstrom
President
$0
Gina Wright
Vice President
$0
Sally Mchenry
Secretary
$0
Nanci Brown
Treasuer
$0
Joe Atkins
Director
$0
Emily Peterson Boone
Director
$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$98,188
Noncash contributions included in lines 1a–1f $0
Total Revenue from Contributions, Gifts, Grants & Similar$98,188
Total Program Service Revenue$0
Investment income $29,128
Tax Exempt Bond Proceeds $0
Royalties $0
Net Rental Income $0
Net Gain/Loss on Asset Sales $0
Net Income from Fundraising Events -$231
Net Income from Gaming Activities $0
Net Income from Sales of Inventory $0
Miscellaneous Revenue$0
Total Revenue $127,085

Grants Recieved

Over the last fiscal year, we have identified 1 grants that Inver Grove Heights B E S T Foundation has recieved totaling $6,000.

Awarding OrganizationAmount
Charities Aid Foundation America

Alexandria, VA

PURPOSE: CHARITABLE DONATION

$6,000
View Grant Recipient Profile

Endowment Analysis

Beg. Balance$1,141,901
Earnings$141,131
Net Contributions$76,977
Other Expense$253,970
Ending Balance$1,106,038

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