Frank & Toby Berman Family Foundation
- Assets
- $467.4k
- Revenue
- $41.0k
- Investments
- $453.1k
- Employees
- 0
- Location
- Hopkins, MN
- Founding
- 02/1997
- Data as of
- 12/2023
- EIN
- 41-1857933
Organization Overview
Frank & Toby Berman Family Foundation is located in Hopkins, MN. The organization was established in 1997. According to its NTEE Classification (T22) the organization is classified as: Private Independent 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. Frank & Toby Berman Family 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, Frank & Toby Berman Family Foundation generated $41.0k in total revenue. This organization has experienced exceptional growth, as over the past 5 years, it has increased revenue by an average of 12.1% each year . All expenses for the organization totaled $31.8k during the year ending 12/2023. You can explore the organizations financials more deeply in the financial statements section below.
Since 2020, Frank & Toby Berman Family Foundation has awarded 42 individual grants totaling $106,500. 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.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Frank Berman Director | 5 | $0 | |
Toby Berman Director | 5 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $8,565 |
| Interest on Savings | $39 |
| Dividends & Interest | $11,861 |
| Net Rental Income | $0 |
| Net Gain on Sale of Assets | $20,546 |
| Capital Gain Net Income | $20,546 |
| Net ST Capital Gain | $0 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $0 |
| Other Income | $0 |
| Total Revenue | $41,011 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $0 |
| Other employee salaries and wages | $0 |
| Pension plans, employee benefits | $0 |
| Interest | $0 |
| Taxes | $677 |
| Depreciation | $0 |
| Occupancy | $0 |
| Travel, conferences, and meetings | $0 |
| Printing and publications | $0 |
| Other expenses | $50 |
| Total operating and administrative expenses | $7,001 |
| Contributions, gifts, grants paid | $24,800 |
| Total expenses and disbursements | $31,801 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $14,309 |
| 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 | $326,294 |
| Net Land, buildings, and equipment | $0 |
| Other assets | $0 |
| Total assets | $467,415 |
| 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, Frank & Toby Berman Family Foundation has awarded $24,800 in support to 8 organizations.
| Grant Recipient | Amount |
|---|---|
BETH EL SYNAGOGUE PURPOSE: GENERAL OPERATING SUPPORT | $800 |
ISRAEL GUIDE DOG CENTER PURPOSE: GENERAL OPERATING SUPPORT | $1,000 |
JEWISH FED OF PALM SPRINGS DESERT A PURPOSE: GENERAL OPERATING SUPPORT | $5,000 |
MAYO CLINIC PURPOSE: GENERAL OPERATING SUPPORT | $10,000 |
TEMPLE ISRAEL PURPOSE: GENERAL OPERATING SUPPORT | $3,000 |
SHOLOM ALLIENCE PURPOSE: GENERAL OPERATION SUPPORT | $1,000 |