Inter City Oil Foundation
- Assets
- $221.1k
- Revenue
- $6.4k
- Investments
- $165.0k
- Employees
- 0
- Location
- Duluth, MN
- Founding
- 08/1996
- Data as of
- 12/2023
- EIN
- 41-1817691
Organization Overview
Inter City Oil Foundation is located in Duluth, MN. The organization was established in 1996. According to its NTEE Classification (L80) the organization is classified as: Housing Support, under the broad grouping of Housing & Shelter and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Inter City Oil 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 12/2023, Inter City Oil Foundation generated $6.4k in total revenue. This represents a relatively dramatic decline in revenue. Over the past 5 years, the organization has seen revenues fall by an average of (34.7%) each year. All expenses for the organization totaled $13.5k during the year ending 12/2023. You can explore the organizations financials more deeply in the financial statements section below.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Judy L Weber President/ceo | 1 | $0 | |
Susan J Weber Board Member | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $0 |
| Interest on Savings | $1,057 |
| Dividends & Interest | $4,103 |
| Net Rental Income | $0 |
| Net Gain on Sale of Assets | $1,282 |
| Capital Gain Net Income | $1,282 |
| Net ST Capital Gain | $0 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $0 |
| Other Income | $0 |
| Total Revenue | $6,442 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $0 |
| Other employee salaries and wages | $0 |
| Pension plans, employee benefits | $0 |
| Interest | $0 |
| Taxes | $0 |
| Depreciation | $0 |
| Occupancy | $0 |
| Travel, conferences, and meetings | $0 |
| Printing and publications | $0 |
| Other expenses | $50 |
| Total operating and administrative expenses | $2,476 |
| Contributions, gifts, grants paid | $11,000 |
| Total expenses and disbursements | $13,476 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $3,172 |
| Savings and temporary cash investments | $52,879 |
| 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 | $0 |
| Net Land, buildings, and equipment | $0 |
| Other assets | $0 |
| Total assets | $221,060 |
| 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, Inter City Oil Foundation has awarded $11,000 in support to 6 organizations.
| Grant Recipient | Amount |
|---|---|
RICHARD I BONG VETERANS HISTORICAL CENTER PURPOSE: PROGRAM GOALS | $2,500 |
DAMIANO CENTER PURPOSE: PROGRAM GOALS | $1,000 |
AMERICAN LEGION PURPOSE: PROGRAM GOALS | $1,500 |
CATHEDRAL OF CHRIST THE KING CHURCH PURPOSE: PROGRAM GOALS | $1,000 |
DULUTH EAST YOUTH FOOTBALL PURPOSE: PROGRAM GOALS | $1,500 |
LAKE SUPERIOR RAILROAD MUSEUM PURPOSE: PROGRAM GOALS | $3,500 |