Fargo-Moorhead Area Foundation Corporation
- Assets
- $123.6m
- Revenue
- $30.0m
- Investments
- $936.4k
- Employees
- 8
- Location
- Fargo, ND
- Founding
- 10/1960
- Data as of
- 12/2021
- EIN
- 45-6010377
Organization Overview
Fargo-Moorhead Area Foundation Corporation is located in Fargo, ND. The organization was established in 1960. According to its NTEE Classification (T31) the organization is classified as: Community Foundations, under the broad grouping of Philanthropy, Voluntarism & Grantmaking Foundations and related organizations. As of 12/2021, Fargo-Moorhead Area Foundation Corporation employed 8 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Fargo-Moorhead Area Foundation Corporation 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, Fargo-Moorhead Area Foundation Corporation generated $30.0m in total revenue. This organization has experienced exceptional growth, as over the past 7 years, it has increased revenue by an average of 28.1% each year . All expenses for the organization totaled $13.1m during the year ending 12/2021. While expenses have increased by 22.6% per year over the past 7 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 2014, Fargo-Moorhead Area Foundation Corporation has awarded 946 individual grants totaling $29,831,415. 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
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2021
Describe the Organization's Mission:
Part 3 - Line 1
WE HELP DONORS MAXIMIZE THEIR PHILANTHROPY TO CREATE A VIBRANT COMMUNITY FULL OF OPPORTUNITIES FOR EVERYONE.
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE FOUNDATION IS A COMMUNITY TRUST THAT ADMINISTERS OVER 400 CHARITABLE FUNDS. THESE FUNDS ARE CREATED BY CONTRIBUTIONS FROM THE GENERAL PUBLIC. GRANTS WERE AWARDED IN PROGRAMS IN THE FOLLOWING AREAS: COMMUNITY BUILDING - 7.18%; BASIC HUMAN NEEDS - 23.72%; ART - 2.21%; EDUCATION - 34.65%; YOUTH - 4.45%; RESEARCH - 17.35%; RELIGION - 3.84%; HEALTH & WELLNESS - 2.55%; ENVIRONMENT 0.97%; DISASTER & RECOVERY - 0.04%; BIPOC - 1.35%; ANIMAL WELFARE - 1.51%; UNRESTRICTED - 0.11%; OTHER - 0.07%. THESE GRANTS AND SCHOLARSHIPS WERE MADE POSSIBLE FROM THE FOLLOWING TYPES OF FUNDS: DONOR ADVISED - 82.7%, DESIGNATED - 5.5%, FIELD OF INTEREST - 3.8%, AGENCY - 1.0%, SCHOLARSHIP - 2.5%, AND UNRESTRICTED - 4.5%.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Eric Wilkie Executive Director | Officer | 40 | $172,487 |
Louise Dardis Chair | OfficerTrustee | 2 | $0 |
Toni Sandin Secretary | OfficerTrustee | 1 | $0 |
Don Haugen Immediate Past Chair | OfficerTrustee | 2 | $0 |
April Walker Vice Chair | OfficerTrustee | 3 | $0 |
Gary Nolte Treasurer | OfficerTrustee | 2 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $100,000 |
| All other contributions, gifts, grants, and similar amounts not included above | $17,715,546 |
| Noncash contributions included in lines 1a–1f | $2,083,275 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $17,815,546 |
| Total Program Service Revenue | $0 |
| Investment income | $2,067,726 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $183,190 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $9,958,573 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $30,025,035 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $10,696,252 |
| Grants and other assistance to domestic individuals. | $279,172 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $197,485 |
| Compensation of current officers, directors, key employees. | $114,680 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $410,818 |
| Pension plan accruals and contributions | $20,164 |
| Other employee benefits | $122,924 |
| Payroll taxes | $38,994 |
| Fees for services: Management | $2,323 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $26,668 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $623,363 |
| Fees for services: Other | $0 |
| Advertising and promotion | $43,379 |
| Office expenses | $63,245 |
| Information technology | $45,329 |
| Royalties | $0 |
| Occupancy | $4,517 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $39,704 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $45,781 |
| Insurance | $10,181 |
| All other expenses | $0 |
| Total functional expenses | $13,055,750 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $5,533,548 |
| Pledges and grants receivable | $1,205,062 |
| Accounts receivable, net | $0 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $0 |
| Net Land, buildings, and equipment | $546,704 |
| Investments—publicly traded securities | $113,225,399 |
| Investments—other securities | $936,396 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $2,154,724 |
| Total assets | $123,601,833 |
| Accounts payable and accrued expenses | $21,137 |
| Grants payable | $6,243 |
| Deferred revenue | $0 |
| Tax-exempt bond liabilities | $0 |
| Escrow or custodial account liability | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $0 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $2,225,658 |
| Total liabilities | $2,253,038 |
| Net assets without donor restrictions | $118,209,111 |
| Net assets with donor restrictions | $3,139,684 |
| Capital stock or trust principal, or current funds | $0 |
| Paid-in or capital surplus, or land, building, or equipment fund | $0 |
| Retained earnings, endowment, accumulated income, or other funds | $0 |
| Total liabilities and net assets/fund balances | $123,601,833 |
Grants Awarded
Over the last fiscal year, Fargo-Moorhead Area Foundation Corporation has awarded $10,594,702 in support to 175 organizations.
| Grant Recipient | Amount |
|---|---|
Jamestown, ND PURPOSE: GENERAL SUPPORT | $2,015,120 |
New York, NY PURPOSE: EQUINE HERPES VIRUS VACCINE RESEARCH | $2,000,000 |
Medora, ND PURPOSE: GENERAL SUPPORT | $1,500,000 |
Fargo, ND PURPOSE: GENERAL SUPPORT | $1,000,000 |
UNIVERSITY OF MARY - BISMARCK PURPOSE: GENERAL SUPPORT | $305,000 |
Fargo, ND PURPOSE: $250000.00-NATURAL PLAYGROUND-MOORHEAD $150.00-GUATEMALA BOOK PROJECT | $250,150 |
Grants Recieved
Over the last fiscal year, we have identified 1 grants that Fargo-Moorhead Area Foundation Corporation has recieved totaling $77,250.
| Awarding Organization | Amount |
|---|---|
The Funders Network Inc Coral Gables, FL PURPOSE: PPREP | $77,250 |
Endowment Analysis
| Beg. Balance | $101,959,021 |
| Earnings | $12,798,486 |
| Admin Expense | $525,416 |
| Net Contributions | $17,049,005 |
| Other Expense | $176,131 |
| Grants | $11,913,699 |
| Ending Balance | $119,191,266 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Sioux Falls Area Community Foundation Inc Sioux Falls, SD | $264,068,911 | $59,923,672 |
Catholic Community Foundation Of Minnesota St Paul, MN | $510,001,439 | $72,097,381 |
Communitygiving St Cloud, MN | $193,103,222 | $46,523,540 |
3m Open Fund Blaine, MN | $2,792,523 | $13,492,516 |
Fargo-Moorhead Area Foundation Corporation Fargo, ND | $123,601,833 | $30,025,035 |
Whitefish Community Foundation Inc Whitefish, MT | $55,891,446 | $19,214,103 |
Yellowstone Club Community Foundaction Bozeman, MT | $7,118,258 | $8,242,753 |
West Central Initiative Fergus Falls, MN | $80,928,029 | $10,157,757 |
Montana Community Foundation Inc Helena, MT | $124,041,175 | $24,837,343 |
North Dakota Community Foundation Bismarck, ND | $128,952,115 | $14,760,573 |
Rochester Area Foundation Rochester, MN | $45,116,721 | $11,703,419 |
Womens Foundation Of Minnesota Minneapolis, MN | $30,253,405 | $5,522,981 |