J A Wedum Foundation
- Assets
- $141.3m
- Revenue
- $28.4m
- Investments
- $32.5m
- Employees
- 0
- Location
- Plymouth, MN
- Founding
- 11/1963
- Data as of
- 12/2021
- EIN
- 41-6025661
Organization Overview
J A Wedum Foundation is located in Plymouth, MN. The organization was established in 1963. 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. J A Wedum 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, J A Wedum Foundation generated $28.4m in total revenue. The organization has seen a slow decline revenue. Over the past 7 years, revenues have fallen by an average of (2.9%) each year. All expenses for the organization totaled $28.9m during the year ending 12/2021. As we would expect to see with falling revenues, expenses have declined by (1.3%) per year over the past 7 years. You can explore the organizations financials more deeply in the financial statements section below.
Since 2015, J A Wedum Foundation has awarded 618 individual grants totaling $13,337,004. 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
2021
Describe the Organization's Program Activity:
Part 3 - Line 4a
NORWAY HOUSE-NORWAY HOUSE'S NEW INNOVATION AND CULTURE CENTER
MINNESOTA ADULT & TEEN CHALLENGE-FOR BUILDING THE CAMPUS IN ALEXANDRIA, MN
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Jay Portz President | 40 | $383,135 | |
Brian Myres Chair | 2 | $19,250 | |
Michele Kelm Helgen Trustee | 1 | $1,750 | |
Dawn Downs Trustee | 1 | $1,750 | |
Dayton Soby Secretary | 1 | $1,750 | |
David Kjos Trustee | 1 | $1,750 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Silvercrest Properties | 12/30/21 | $181,241 |
Pope Architect | 12/30/21 | $535,809 |
Great Lakes Management Company | 12/30/21 | $467,680 |
Ej Plesko & Associates Inc | 12/30/21 | $181,241 |
Phs Management Llc | 12/30/21 | $236,219 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $0 |
| Interest on Savings | $0 |
| Dividends & Interest | $934,751 |
| Net Rental Income | $74,881 |
| Net Gain on Sale of Assets | $1,843,781 |
| Capital Gain Net Income | $1,843,781 |
| Net ST Capital Gain | $0 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $0 |
| Other Income | $25,588,271 |
| Total Revenue | $28,441,684 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $414,635 |
| Other employee salaries and wages | $179,666 |
| Pension plans, employee benefits | $34,080 |
| Interest | $2,884,772 |
| Taxes | $0 |
| Depreciation | $3,166,734 |
| Occupancy | $15,435,011 |
| Travel, conferences, and meetings | $0 |
| Printing and publications | $0 |
| Other expenses | $3,743,598 |
| Total operating and administrative expenses | $25,958,570 |
| Contributions, gifts, grants paid | $2,988,700 |
| Total expenses and disbursements | $28,947,270 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $31,872,643 |
| Net Accounts receivable | $1,973,592 |
| Net Pledges Receivable | $0 |
| Grants receivable | $0 |
| Receivables from Officers, Directors, or Controlling Persons | $0 |
| Net other notes and loans receivable | $7,061,872 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $80,411 |
| Net Investments - land, buildings, equipment | $24,258 |
| Investments—mortgage loans | $0 |
| Investments—other | $0 |
| Net Land, buildings, and equipment | $61,273,423 |
| Other assets | $6,490,345 |
| Total assets | $141,295,178 |
| Accounts payable and accrued expenses | $3,471,712 |
| Grants payable | $0 |
| Deferred revenue | $206,261 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Mortgages and other notes payable | $51,947,309 |
| Other liabilities | $889,735 |
| Total liabilities | $56,515,017 |
Grants Awarded
Over the last fiscal year, J A Wedum Foundation has awarded $2,988,700 in support to 95 organizations.
| Grant Recipient | Amount |
|---|---|
UNIVERSITY OF MINNESOTA FOUNDATION PURPOSE: SCHOLARSHIPS | $1,616,225 |
Minneapolis, MN PURPOSE: GENERAL OPERATION SUPPORT | $325,000 |
Fergus Falls, MN PURPOSE: SCHOLARSHIPS | $115,000 |
MINNESOTA ADULT & TEEN CHALLENGE PURPOSE: GENERAL OPERATION SUPPORT | $100,000 |
ST CLOUD STATE UNIVERSITY PURPOSE: SCHOLARSHIPS | $74,750 |
ALEXANDRIA AREA DECA FOUNDATION PURPOSE: GENERAL OPERATION SUPPORT | $50,000 |
Grants Recieved
Over the last fiscal year, we have identified 1 grants that J A Wedum Foundation has recieved totaling $12,775.
| Awarding Organization | Amount |
|---|---|
Randy Shaver Cancer Research And Community Fund Minnetonka, MN PURPOSE: PROVIDE DAILY MEALS TO FAMILIES OF PATIENTS AND FUNDS TO PURCHASE A PORTABLE LIFT | $12,775 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Otto Bremer Trust St Paul, MN | $1,543,197,073 | $135,875,116 |
The Robert D And Patricia E Kern Family Foundation Inc Waukesha, WI | $717,991,169 | $43,480,423 |
The Richard M Schulze Family Foundation Minneapolis, MN | $250,424,427 | $45,882,285 |
Fred C And Katherine B Andersen Foundation Bayport, MN | $1,210,701,778 | $63,445,932 |
Manitou Fund White Bear Lake, MN | $1,003,593,689 | $40,882,622 |
Lynne & Andrew Redleaf Foundation Minneapolis, MN | $127,717,345 | $981,960 |
Northwest Area Foundation St Paul, MN | $512,755,007 | $38,144,816 |
U S Bancorp Foundation Milwaukee, WI | $68,350,907 | $6,892,078 |
Medtronic Communities Foundation Minneapolis, MN | $54,271,830 | $230,239 |
General Mills Foundation Minneapolis, MN | $0 | -$304,053 |
J A Wedum Foundation Plymouth, MN | $141,295,178 | $28,441,684 |
Bader Philanthropies Inc Milwaukee, WI | $26,809,232 | $30,829,351 |