Fred C And Katherine B Andersen Foundation
- Assets
- $1.1b
- Revenue
- $55.3m
- Investments
- $1.0b
- Employees
- 0
- Location
- Bayport, MN
- Founding
- 03/1961
- Data as of
- 12/2022
- EIN
- 41-6020920
Organization Overview
Fred C And Katherine B Andersen Foundation is located in Bayport, MN. The organization was established in 1961. 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. Fred C And Katherine B Andersen 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, Fred C And Katherine B Andersen Foundation generated $55.3m in total revenue. This organization has experienced exceptional growth, as over the past 4 years, it has increased revenue by an average of 11.5% each year . All expenses for the organization totaled $57.0m during the year ending 12/2022. While expenses have increased by 11.3% per year over the past 4 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 2020, Fred C And Katherine B Andersen Foundation has awarded 738 individual grants totaling $139,353,267. 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
NONE
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Mary Gillstrom Vp/secretary | 40 | $86,365 | |
John D Piepel Director | 1 | $0 | |
Peter Clements President | 1 | $0 | |
David M Erspamer Director | 1 | $0 | |
Vern J Hill Director | 1 | $0 | |
Tracy Galowitz Director | 1 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
First State Bank Of Bayport | 12/30/22 | $283,279 |
The Charles Schwab Corporation | 12/30/22 | $274,819 |
Fidelity Investments | 12/30/22 | $133,988 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $0 |
| Interest on Savings | $1,853,302 |
| Dividends & Interest | $26,194,053 |
| Net Rental Income | $0 |
| Net Gain on Sale of Assets | $27,221,095 |
| Capital Gain Net Income | $27,221,095 |
| Net ST Capital Gain | $0 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $0 |
| Other Income | $0 |
| Total Revenue | $55,268,450 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $86,365 |
| Other employee salaries and wages | $0 |
| Pension plans, employee benefits | $11,694 |
| Interest | $0 |
| Taxes | $898,537 |
| Depreciation | $0 |
| Occupancy | $0 |
| Travel, conferences, and meetings | $758 |
| Printing and publications | $0 |
| Other expenses | $49,543 |
| Total operating and administrative expenses | $1,954,993 |
| Contributions, gifts, grants paid | $55,018,510 |
| Total expenses and disbursements | $56,973,503 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $454,438 |
| Savings and temporary cash investments | $19,505,910 |
| 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 | $150,343,922 |
| Net Land, buildings, and equipment | $0 |
| Other assets | $0 |
| Total assets | $1,056,320,671 |
| 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, Fred C And Katherine B Andersen Foundation has awarded $55,018,510 in support to 213 organizations.
| Grant Recipient | Amount |
|---|---|
180 DEGREES PURPOSE: GENERAL SUPPORT | $50,000 |
ABC FOR RURAL HEALTH PURPOSE: GENERAL SUPPORT | $25,000 |
ACCESSABILITY INC PURPOSE: GENERAL SUPPORT | $20,000 |
ADORAY HOME HEALTH & HOSPICE PURPOSE: GENERAL SUPPORT | $50,000 |
AEON PURPOSE: GENERAL SUPPORT | $15,000 |
A CHANCE TO GROW PURPOSE: GENERAL SUPPORT | $35,000 |