Prospect Creek Foundation
- Assets
- $31.9m
- Revenue
- $880.2k
- Investments
- $31.7m
- Employees
- 0
- Location
- Wayzata, MN
- Founding
- 04/1993
- Data as of
- 12/2022
- EIN
- 41-1736420
Organization Overview
Prospect Creek Foundation is located in Wayzata, MN. The organization was established in 1993. 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. Prospect Creek 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 12/2022, Prospect Creek Foundation generated $880.2k in total revenue. This represents a relatively dramatic decline in revenue. Over the past 4 years, the organization has seen revenues fall by an average of (21.6%) each year. All expenses for the organization totaled $1.6m during the year ending 12/2022. You can explore the organizations financials more deeply in the financial statements section below.
Since 2020, Prospect Creek Foundation has awarded 184 individual grants totaling $6,214,435. 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
990T
Mission & Program ActivityExcerpts From the 990T Filing
TAX YEAR
2022
Describe the Organization's Program Activity:
NONE
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Martha Clark Atwater Director | 0 | $0 | |
H B Atwater Jr Director | 0 | $0 | |
Elizabeth Atwater Connolly Director | 0 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $0 |
| Interest on Savings | $0 |
| Dividends & Interest | $130,417 |
| Net Rental Income | $0 |
| Net Gain on Sale of Assets | $541,357 |
| Capital Gain Net Income | $541,357 |
| Net ST Capital Gain | $0 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $0 |
| Other Income | $208,405 |
| Total Revenue | $880,179 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $0 |
| Other employee salaries and wages | $0 |
| Pension plans, employee benefits | $0 |
| Interest | $0 |
| Taxes | $240 |
| Depreciation | $0 |
| Occupancy | $0 |
| Travel, conferences, and meetings | $0 |
| Printing and publications | $0 |
| Other expenses | $571 |
| Total operating and administrative expenses | $23,181 |
| Contributions, gifts, grants paid | $1,559,420 |
| Total expenses and disbursements | $1,582,601 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $71,856 |
| Savings and temporary cash investments | $70,756 |
| 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 | $14,916,722 |
| Net Land, buildings, and equipment | $0 |
| Other assets | $1,514 |
| Total assets | $31,853,405 |
| 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, Prospect Creek Foundation has awarded $1,559,420 in support to 45 organizations.
| Grant Recipient | Amount |
|---|---|
BELL MUSEUM PURPOSE: OPERATIONAL | $1,000 |
BLAKE SCHOOL PURPOSE: OPERATIONAL | $25,000 |
GRAYWOLF PRESS PURPOSE: OPERATIONAL | $1,000 |
CHILDREN'S THEATRE COMPANY PURPOSE: OPERATIONAL | $1,000 |
GREAT MN SCHOOLS PURPOSE: OPERATIONAL | $888,600 |
GREATER MINNEAPOLIS CRISIS NURSERY PURPOSE: OPERATIONAL | $2,500 |