M B Foundation
- Assets
- $364.9k
- Revenue
- $249.0k
- Investments
- $304.5k
- Employees
- 0
- Location
- Edina, MN
- Founding
- 07/1997
- Data as of
- 12/2023
- EIN
- 41-6421316
Organization Overview
M B Foundation is located in Edina, MN. The organization was established in 1997. According to its NTEE Classification (T22) the organization is classified as: Private Independent 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. M B 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, M B Foundation generated $249.0k in total revenue. This represents relatively stable growth, over the past 8 years the organization has increased revenue by an average of 8.1% each year. All expenses for the organization totaled $226.6k during the year ending 12/2023. While expenses have increased by 8.6% 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 2016, M B Foundation has awarded 24 individual grants totaling $1,005,000. 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
2023
Describe the Organization's Program Activity:
Part 3 - Line 4a
NOT APPLICABLE
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Laura Lee Baskerville Becker Trustee | 0 | $0 | |
Terry R Becker Trustee | 0 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $0 |
| Interest on Savings | $1,590 |
| Dividends & Interest | $22,426 |
| Net Rental Income | $0 |
| Net Gain on Sale of Assets | $224,991 |
| Capital Gain Net Income | $224,991 |
| Net ST Capital Gain | $0 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $0 |
| Other Income | $0 |
| Total Revenue | $249,007 |
| 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 | $25 |
| Total operating and administrative expenses | $6,554 |
| Contributions, gifts, grants paid | $220,000 |
| Total expenses and disbursements | $226,554 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $7,920 |
| Savings and temporary cash investments | $52,518 |
| 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 | $364,920 |
| 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, M B Foundation has awarded $220,000 in support to 4 organizations.
| Grant Recipient | Amount |
|---|---|
FEED MY STARVING CHILDREN PURPOSE: MEALS | $10,000 |
SECOND HARVEST HEARTLAND PURPOSE: GENERAL FUNDING | $10,000 |
AMERICAN RED CROSS PURPOSE: EMERGENCY SERVICES | $100,000 |
YMCA PURPOSE: BEACONS/BNG PROGRAMS | $100,000 |