Best Buy Foundation
- Assets
- $57.0m
- Revenue
- $22.1m
- Investments
- $0.0
- Employees
- 0
- Location
- Richfield, MN
- Founding
- 06/1995
- Data as of
- 02/2022
- EIN
- 41-1784382
Organization Overview
Best Buy Foundation is located in Richfield, MN. The organization was established in 1995. According to its NTEE Classification (T70) the organization is classified as: Federated Giving Programs, 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. Best Buy 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 02/2022, Best Buy Foundation generated $22.1m in total revenue. This organization has experienced exceptional growth, as over the past 3 years, it has increased revenue by an average of 35.2% each year . All expenses for the organization totaled $11.7m during the year ending 02/2022. While expenses have increased by 16.3% per year over the past 3 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.
Form
990PF
Mission & Program ActivityExcerpts From the 990PF Filing
TAX YEAR
2022
Describe the Organization's Program Activity:
Part 3 - Line 4a
N/A
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Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $22,096,559 |
| Interest on Savings | $9,696 |
| Dividends & Interest | $0 |
| Net Rental Income | $0 |
| Net Gain on Sale of Assets | $0 |
| Capital Gain Net Income | $0 |
| Net ST Capital Gain | $0 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $0 |
| Other Income | $0 |
| Total Revenue | $22,106,255 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $0 |
| Other employee salaries and wages | $0 |
| Pension plans, employee benefits | $0 |
| Interest | $0 |
| Taxes | $87 |
| Depreciation | $0 |
| Occupancy | $0 |
| Travel, conferences, and meetings | $0 |
| Printing and publications | $0 |
| Other expenses | $1,913,478 |
| Total operating and administrative expenses | $1,913,565 |
| Contributions, gifts, grants paid | $9,799,207 |
| Total expenses and disbursements | $11,712,772 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $55,794,886 |
| Savings and temporary cash investments | $0 |
| Net Accounts receivable | $561,872 |
| Net Pledges Receivable | $0 |
| Grants receivable | $0 |
| Receivables from Officers, Directors, or Controlling Persons | $0 |
| Net other notes and loans receivable | $559,027 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $83,003 |
| Net Investments - land, buildings, equipment | $0 |
| Investments—mortgage loans | $0 |
| Investments—other | $0 |
| Net Land, buildings, and equipment | $0 |
| Other assets | $0 |
| Total assets | $56,998,788 |
| Accounts payable and accrued expenses | $8,978 |
| Grants payable | $51,004 |
| Deferred revenue | $30,000 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Mortgages and other notes payable | $0 |
| Other liabilities | $0 |
| Total liabilities | $89,982 |
Grants Recieved
Over the last fiscal year, we have identified 15 grants that Best Buy Foundation has recieved totaling $1,013,876.
| Awarding Organization | Amount |
|---|---|
Whirlpool Foundation Benton Harbor, MI PURPOSE: STRATGEIC GRANT | $250,000 |
The Richard M Schulze Family Foundation Minneapolis, MN PURPOSE: HUMAN SERVICES | $100,000 |
The Richard M Schulze Family Foundation Minneapolis, MN PURPOSE: HUMAN SERVICES | $100,000 |
The Richard M Schulze Family Foundation Minneapolis, MN PURPOSE: HUMAN SERVICES | $75,000 |
The Richard M Schulze Family Foundation Minneapolis, MN PURPOSE: HUMAN SERVICES | $75,000 |
The Richard M Schulze Family Foundation Minneapolis, MN PURPOSE: HUMAN SERVICES | $75,000 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Aurora Health Care Foundation Inc Milwaukee, WI | $332,167,553 | $7,899,285 |
United Way Of Central Iowa Des Moines, IA | $37,480,917 | $26,442,012 |
Minneapolis Jewish Federation Minneapolis, MN | $195,630,681 | $22,381,825 |
Milwaukee Jewish Federation Inc Milwaukee, WI | $275,238,952 | $33,191,987 |
United Way Of Dane County Inc Madison, WI | $25,467,311 | $22,528,941 |
Marquardt Home And Community Based Services Inc Watertown, WI | $9,140,172 | $14,598,397 |
Best Buy Foundation Richfield, MN | $56,998,788 | $22,106,255 |
United Way Fox Cities Inc Menasha, WI | $16,186,120 | $10,302,524 |
Sioux Empire United Way Inc Sioux Falls, SD | $14,046,411 | $8,857,048 |
New Harmony Care Center Inc Edina, MN | $17,674,874 | $11,846,414 |
United Way Of East Central Iowa Cedar Rapids, IA | $18,620,645 | $6,956,778 |
Wisconsin Regional Training Partnership Inc Milwaukee, WI | $5,167,350 | $7,096,517 |