Security State Bank Foundation
- Assets
- $251.3k
- Revenue
- $1.6k
- Investments
- $0.0
- Employees
- 0
- Location
- Hibbing, MN
- Founding
- 06/2014
- Data as of
- 12/2021
- EIN
- 41-1830282
Organization Overview
Security State Bank Foundation is located in Hibbing, MN. The organization was established in 2014. 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. Security State Bank 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, Security State Bank Foundation generated $1.6k in total revenue. This represents relatively stable growth, over the past 5 years the organization has increased revenue by an average of 1.2% each year. All expenses for the organization totaled $14.5k during the year ending 12/2021. While expenses have increased by 0.1% per year over the past 5 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
2021
Describe the Organization's Program Activity:
Part 3 - Line 4a
NA
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Genica Munter President | 1.2 | $0 | |
Kim Thomas Treasurer | 0.4 | $0 | |
Bre Kasola Secretary | 0.4 | $0 | |
Mark Gardeski Director | 0.2 | $0 | |
Greg Hoag Director | 0.2 | $0 | |
Gary Oie Director | 0.2 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $0 |
| Interest on Savings | $1,556 |
| 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 | $1,556 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $0 |
| Other employee salaries and wages | $0 |
| Pension plans, employee benefits | $0 |
| Interest | $0 |
| Taxes | $55 |
| Depreciation | $0 |
| Occupancy | $0 |
| Travel, conferences, and meetings | $0 |
| Printing and publications | $0 |
| Other expenses | $25 |
| Total operating and administrative expenses | $405 |
| Contributions, gifts, grants paid | $14,070 |
| Total expenses and disbursements | $14,475 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $100 |
| Savings and temporary cash investments | $251,138 |
| 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 | $28 |
| Total assets | $251,266 |
| 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, Security State Bank Foundation has awarded $14,070 in support to 12 organizations.
| Grant Recipient | Amount |
|---|---|
SALVATION ARMY PURPOSE: GENERAL SUPPORT | $3,400 |
HCC FOUNDATION FOR PAULUCCI SPACE THEATER PURPOSE: GENERAL SUPPOT | $2,000 |
MDI PURPOSE: GENERAL SUPPORT | $1,000 |
CAROLINE RUE UNIVERSITY OF MN PURPOSE: SCHOLARSHIP | $1,000 |
HIBBING FARMERS MARKET PURPOSE: GENERAL SUPPORT | $1,000 |
Hibbing, MN PURPOSE: GENERAL SUPPORT | $1,000 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
We Energies Foundation Inc Milwaukee, WI | $74,423,525 | $6,027,785 |
3m Foundation St Paul, MN | $11,832,463 | $7,120,220 |
Richard O Jacobson Foundation Inc Des Moines, IA | $24,841,991 | $13,826,505 |
The Ceres Trust Milwaukee, WI | $8,473,497 | $7,541,315 |
New Jci Foundation Inc Milwaukee, WI | $45,616,522 | $3,307,387 |
Hugh J Andersen Foundation Bayport, MN | $156,260,583 | $11,255,430 |
Hall-Perrine Foundation Cedar Rapids, IA | $140,581,654 | $14,980,430 |
Dohmen Company Foundation Inc Milwaukee, WI | $0 | $9,439,356 |
Xcel Energy Foundation Minneapolis, MN | $11,307,736 | $67,424 |
Patrick & Aimee Butler Family Foundation St Paul, MN | $109,951,624 | $8,639,825 |
Mead Witter Foundation Inc Wisconsin Rapids, WI | $51,357,757 | $5,357,467 |
Comer Science And Education Foundation Waukesha, WI | $78,906,538 | $1,965,731 |