Naeve Health Care Foundation
- Assets
- $6.0m
- Revenue
- $356.6k
- Investments
- $5.9m
- Employees
- 0
- Location
- Albert Lea, MN
- Founding
- 10/2015
- Data as of
- 12/2021
- EIN
- 41-1989509
Organization Overview
Naeve Health Care Foundation is located in Albert Lea, MN. The organization was established in 2015. According to its NTEE Classification (E11) the organization is classified as: Single Organization Support, under the broad grouping of Health Care and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Naeve Health Care 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, Naeve Health Care Foundation generated $356.6k in total revenue. This organization has experienced exceptional growth, as over the past 7 years, it has increased revenue by an average of 14.8% each year . All expenses for the organization totaled $271.1k during the year ending 12/2021. You can explore the organizations financials more deeply in the financial statements section below.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2021
Describe the Organization's Mission:
Part 3 - Line 1
RAISING PHILANTHROPIC DOLLARS FOR HIGH QUALITY COST EFFECTIVE HEALTHCARE AT MCHS IN ALBERT LEA.
Describe the Organization's Program Activity:
Part 3 - Line 4a
NAEVE HEALTH CARE FOUNDATION'S GIFT WAS DIRECTED TOWARDS PROJECTS WITHIN MAYO CLINIC HEALTH SYSTEM IN ALBERT LEA.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Dan Kolker President | OfficerTrustee | 12 | $0 |
Shannon Steensma Treasurer | OfficerTrustee | 10 | $0 |
Diane Clark Secretary | OfficerTrustee | 10 | $0 |
Dr Sumit Bhagra Ex-Officio Officer | Officer | 12 | $0 |
Diane Damerow Trustee | Trustee | 6 | $0 |
Karen Conn Trustee | Trustee | 6 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $993 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $993 |
| Total Program Service Revenue | $0 |
| Investment income | $78,923 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $276,637 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $356,553 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $227,523 |
| Grants and other assistance to domestic individuals. | $0 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $0 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $0 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $0 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $39,516 |
| Fees for services: Other | $0 |
| Advertising and promotion | $0 |
| Office expenses | $0 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $0 |
| All other expenses | $4,044 |
| Total functional expenses | $271,083 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $18,668 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $0 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $0 |
| Net Land, buildings, and equipment | $0 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $5,931,050 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $10,235 |
| Total assets | $5,959,953 |
| Accounts payable and accrued expenses | $0 |
| Grants payable | $227,523 |
| Deferred revenue | $0 |
| Tax-exempt bond liabilities | $0 |
| Escrow or custodial account liability | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $0 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $0 |
| Total liabilities | $227,523 |
| Net assets without donor restrictions | $5,098,784 |
| Net assets with donor restrictions | $633,646 |
| Capital stock or trust principal, or current funds | $0 |
| Paid-in or capital surplus, or land, building, or equipment fund | $0 |
| Retained earnings, endowment, accumulated income, or other funds | $0 |
| Total liabilities and net assets/fund balances | $5,959,953 |
Grants Recieved
Over the last fiscal year, we have identified 1 grants that Naeve Health Care Foundation has recieved totaling $5,000.
| Awarding Organization | Amount |
|---|---|
Minnesota Community Foundation Saint Paul, MN PURPOSE: MULTIPLE GRANTS FOR MULTIPLE PURPOSES | $5,000 |
Endowment Analysis
| Beg. Balance | $281,543 |
| Ending Balance | $281,543 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Teamsters Local 346 Health Fund Trust Bloomington, MN | $55,790,921 | $66,782,892 |
Healthpartners Institute Minneapolis, MN | $92,324,263 | $47,741,048 |
Cincinnati Bell Health And Welfare Trust Milwaukee, WI | $10,960 | $35,872,247 |
Childrens Hospital Of Wisconsin Foundation Inc Milwaukee, WI | $1,206,475,471 | $94,444,184 |
Milwaukee Regional Medical Center Thermal Service Inc Milwaukee, WI | $234,655,372 | $32,150,552 |
Versiti Inc Milwaukee, WI | $31,675,126 | $28,432,711 |
Pioneer Healthcare Tr Fargo, ND | $21,487,108 | $28,269,563 |
Oklahoma Gas And Electric Company Employees Medical Benefit Trust Des Moines, IA | $55,573 | $22,996,745 |
Roofers Local 96 Health & Welfare Fund Bloomington, MN | $17,573,620 | $18,996,626 |
Vollrath Company Employee Health & Welfare Benefit Trust Sheboygan, WI | $1,493,056 | $18,329,364 |
Northern Minnesota-Wisconsin Area Retail Food Health & Welfare Fund Duluth, MN | $9,554,218 | $16,178,140 |
Manatts Inc Group Health Plan & Tr Brooklyn, IA | $3,919,154 | $13,220,530 |