Drolson Family Foundation
- Assets
- $1.2k
- Revenue
- $24.7k
- Investments
- $0.0
- Employees
- 0
- Location
- Forest Lake, MN
- Founding
- 05/2012
- Data as of
- 12/2022
- EIN
- 45-2483929
Organization Overview
Drolson Family Foundation is located in Forest Lake, MN. The organization was established in 2012. 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. Drolson Family 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, Drolson Family Foundation generated $24.7k in total revenue. This represents relatively stable growth, over the past 4 years the organization has increased revenue by an average of 6.0% each year. All expenses for the organization totaled $24.9k during the year ending 12/2022. While expenses have increased by 1.9% 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.
Form
990PF
Mission & Program ActivityExcerpts From the 990PF Filing
TAX YEAR
2022
Describe the Organization's Program Activity:
Part 3 - Line 4a
FOREST LAKE COMMUNITY SCHOLARSHIP FUND FOREST LAKE MN ANNUAL CONTRIBUTION FOR RENEWAL SCHOLARSHIPS WE MAKE
SHOP WITH A COP IN FOREST LAKE PROVIDE MEALS FOR FAMILIES WHO ARE HAVE A FINANCIAL NEED AT CHRISTMAS TIME PROVIDED 11 MEALS TO FAMILIES IN 2022
FOREST LAKE AREA SCHOOLS ATLETIC TEAMS AND MARCHING BAND PROVIDE FOR TEAMS IN NEED OF ATHLETIC GEAR FOR THEIR PARTICIPANTS IN FOREST LAKE MN
FOREST LAKE ROTARYPROVIDE FUNDING SPONSORSHIP FOR THE ROTARY CLUB WHO GIVE THOSE FUNDS OUT FOR ADDITIONAL NEEDS IN THE FOREST LAKE AREA
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Laurie A Drolson Vice President | 10 | $0 | |
David J Drolson President | 15 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $24,674 |
| Interest on Savings | $0 |
| Dividends & Interest | $0 |
| Net Rental Income | $0 |
| Net Gain on Sale of Assets | $0 |
| Capital Gain Net Income | $0 |
| Net ST Capital Gain | $0 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $0 |
| Other Income | $0 |
| Total Revenue | $24,674 |
| 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 | $12,533 |
| Other expenses | $0 |
| Total operating and administrative expenses | $12,533 |
| Contributions, gifts, grants paid | $12,406 |
| Total expenses and disbursements | $24,939 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $1,239 |
| 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 | $1,239 |
| 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, Drolson Family Foundation has awarded $6,500 in support to 2 organizations.
| Grant Recipient | Amount |
|---|---|
FOREST LAKE COMMUNITY SCHOLARSHIP F PURPOSE: COLLEGE SCHOLARSHIPS | $6,000 |
FOREST LAKE SCHOOLS YOUTH SERVICE CLUB PURPOSE: SCHOLARSHIPS FOR PROGRAM | $500 |