Crimson & Cream Foundation
- Assets
- $572.4k
- Revenue
- $64.2k
- Investments
- $553.9k
- Employees
- 0
- Location
- Minneapolis, MN
- Founding
- 06/1998
- Data as of
- 12/2022
- EIN
- 41-1899126
Organization Overview
Crimson & Cream Foundation is located in Minneapolis, MN. The organization was established in 1998. 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. Crimson & Cream 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 12/2022, Crimson & Cream Foundation generated $64.2k in total revenue. This organization has experienced exceptional growth, as over the past 8 years, it has increased revenue by an average of 24.5% each year . All expenses for the organization totaled $60.1k during the year ending 12/2022. While expenses have increased by 29.1% per year over the past 8 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.
Since 2015, Crimson & Cream Foundation has awarded 90 individual grants totaling $201,897. 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.
Form
990PF
Mission & Program ActivityExcerpts From the 990PF Filing
TAX YEAR
2022
Describe the Organization's Program Activity:
Part 3 - Line 4a
GRANTS AND CAUSES TO FURTHER EDUCATIONAL ENRICHMENT AND SOCIAL GUIDANCE OF YOUTH.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Clarence Knox Jr Chairman | 1 | $0 | |
Larry Suarez Vice Preside | 1 | $0 | |
Fred Harris Treasurer | 1 | $0 | |
Lovell Davis Secretary | 1 | $0 | |
Rodney Anderson Board Member | 1 | $0 | |
John Henderson Board Member | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $44,100 |
| Interest on Savings | $0 |
| Dividends & Interest | $9,404 |
| Net Rental Income | $0 |
| Net Gain on Sale of Assets | $10,665 |
| Capital Gain Net Income | $10,665 |
| Net ST Capital Gain | $0 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $0 |
| Other Income | $0 |
| Total Revenue | $64,169 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $0 |
| Other employee salaries and wages | $0 |
| Pension plans, employee benefits | $0 |
| Interest | $0 |
| Taxes | $250 |
| Depreciation | $0 |
| Occupancy | $0 |
| Travel, conferences, and meetings | $0 |
| Printing and publications | $0 |
| Other expenses | $1,179 |
| Total operating and administrative expenses | $2,229 |
| Contributions, gifts, grants paid | $57,900 |
| Total expenses and disbursements | $60,129 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $18,558 |
| Savings and temporary cash investments | $0 |
| 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 | $572,426 |
| 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, Crimson & Cream Foundation has awarded $57,900 in support to 20 organizations.
| Grant Recipient | Amount |
|---|---|
PHYLLIS WHEATLEY COMM CENTER PURPOSE: EDUCATIONAL GRANT | $5,000 |
JACK & JILL OF AMERICA PURPOSE: SERVICE GRANT | $1,000 |
NORTHPOINT HEALTH & WELLNESS CENTER PURPOSE: SERVICE GRANT | $1,000 |
SALMAH ELMASRY PURPOSE: SCHOLARSHIP | $4,000 |
WINSTON PERRYMAN PURPOSE: SCHOLARSHIP | $4,000 |
CHRISTINA ZHENG PURPOSE: SCHOLARSHIP | $1,000 |