Kofoed Foundation
- Assets
- $532.9k
- Revenue
- $23.2k
- Investments
- $486.6k
- Employees
- 0
- Location
- West Branch, IA
- Founding
- 10/1999
- Data as of
- 04/2024
- EIN
- 42-1474339
Organization Overview
Kofoed Foundation is located in West Branch, IA. The organization was established in 1999. 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. Kofoed 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 04/2024, Kofoed Foundation generated $23.2k in total revenue. This represents a relatively dramatic decline in revenue. Over the past 9 years, the organization has seen revenues fall by an average of (13.3%) each year. All expenses for the organization totaled $101.4k during the year ending 04/2024. You can explore the organizations financials more deeply in the financial statements section below.
Since 2016, Kofoed Foundation has awarded 39 individual grants totaling $468,290. 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.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Karen K Suchomel President | 1 | $0 | |
Chris J Kofoed Treasurer | 1 | $0 | |
Laurie A Dauber Secretary | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $0 |
| Interest on Savings | $349 |
| Dividends & Interest | $14,701 |
| Net Rental Income | $0 |
| Net Gain on Sale of Assets | $8,150 |
| Capital Gain Net Income | $8,150 |
| Net ST Capital Gain | $0 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $0 |
| Other Income | $0 |
| Total Revenue | $23,200 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $0 |
| Other employee salaries and wages | $0 |
| Pension plans, employee benefits | $0 |
| Interest | $0 |
| Taxes | $238 |
| Depreciation | $0 |
| Occupancy | $0 |
| Travel, conferences, and meetings | $0 |
| Printing and publications | $0 |
| Other expenses | $33 |
| Total operating and administrative expenses | $1,901 |
| Contributions, gifts, grants paid | $99,500 |
| Total expenses and disbursements | $101,401 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $2,391 |
| Savings and temporary cash investments | $43,916 |
| 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 | $532,915 |
| 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, Kofoed Foundation has awarded $99,500 in support to 4 organizations.
| Grant Recipient | Amount |
|---|---|
MUSEUM OF DANISH AMERICA PURPOSE: HISTORYMUSEUM | $70,500 |
HOOVER PRESIDENTIAL FOUNDATION PURPOSE: PRESIDENTIALEXHIBITS | $18,000 |
WB UNITED METHODIST CHURCH PURPOSE: GENERAL | $10,000 |
BUTCH PEDERSEN LEGACY FOUNDATION PURPOSE: SCHOLARSHIPS | $1,000 |