Patch Foundation
- Assets
- $4.6m
- Revenue
- $227.7k
- Investments
- $3.5m
- Employees
- 0
- Location
- Minneapolis, MN
- Founding
- 05/1997
- Data as of
- 12/2023
- EIN
- 41-1873951
Organization Overview
Patch Foundation is located in Minneapolis, MN. The organization was established in 1997. According to its NTEE Classification (T90) the organization is classified as: Named Trusts N.E.C., 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. Patch 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, Patch Foundation generated $227.7k in total revenue. This represents a relatively dramatic decline in revenue. Over the past 8 years, the organization has seen revenues fall by an average of (5.6%) each year. All expenses for the organization totaled $1.1m during the year ending 12/2023. As we would expect to see with falling revenues, expenses have declined by (1.5%) per year over the past 8 years. You can explore the organizations financials more deeply in the financial statements section below.
Since 2016, Patch Foundation has awarded 382 individual grants totaling $9,042,900. 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 |
|---|---|---|---|
Carolyn Sample President | 2 | $0 | |
Ernest Lindstrom-Lindstrom Law Offi Director | 0.5 | $0 | |
Ronald K Draper Director | 0.5 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $20,000 |
| Interest on Savings | $2,137 |
| Dividends & Interest | $160,040 |
| Net Rental Income | $0 |
| Net Gain on Sale of Assets | $45,520 |
| Capital Gain Net Income | $45,520 |
| Net ST Capital Gain | $0 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $0 |
| Other Income | $0 |
| Total Revenue | $227,697 |
| 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 | $45 |
| Total operating and administrative expenses | $2,880 |
| Contributions, gifts, grants paid | $1,077,000 |
| Total expenses and disbursements | $1,079,880 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $67,899 |
| Savings and temporary cash investments | $1,005,475 |
| 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 | $4,563,575 |
| 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, Patch Foundation has awarded $1,077,000 in support to 42 organizations.
| Grant Recipient | Amount |
|---|---|
ALASKA CHRISTIAN COLLEGE PURPOSE: EDUCATIONAL | $7,000 |
AGATE HOUSING & SERVICES PURPOSE: PROGRAM SUPPORT | $20,000 |
BANYAN COMMUNITY PURPOSE: EDUCATIONAL | $5,000 |
BETHEL UNIVERSITY PURPOSE: EDUCATIONAL | $5,000 |
BIG IDEAS PURPOSE: EDUCATIONAL | $5,000 |
CAMP KNUTSON PURPOSE: RELIGIOUS | $5,000 |