Mccrossan Foundation Inc
- Assets
- $25.0m
- Revenue
- $3.0m
- Investments
- $0.0
- Employees
- 0
- Location
- Sioux Falls, SD
- Founding
- 04/1956
- Data as of
- 06/2022
- EIN
- 46-0241590
Organization Overview
Mccrossan Foundation Inc is located in Sioux Falls, SD. The organization was established in 1956. 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. Mccrossan Foundation Inc 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 06/2022, Mccrossan Foundation Inc generated $3.0m in total revenue. This represents a relatively dramatic decline in revenue. Over the past 7 years, the organization has seen revenues fall by an average of (16.2%) each year. All expenses for the organization totaled $1.2m during the year ending 06/2022. You can explore the organizations financials more deeply in the financial statements section below.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2022
Describe the Organization's Mission:
Part 3 - Line 1
TO SUPPORT MCCROSSAN BOYS RANCH.
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE MCCROSSAN FOUNDATION EXISTS TO SUPPORT MCCROSSAN BOYS RANCH IN THEIR MISSION TO SERVE AT-RISK YOUTH AGES 9-20 IN PROVIDING "NEW HOPE FOR A BETTER LIFE." THE FOUNDATION INVESTS IN THE FUTURE OF MCCROSSAN BOYS RANCH AND THE YOUTH THEY SERVE. THEY SUPPORT EFFORTS THAT ARE ABOVE AND BEYOND THE GENERAL OPERATING BUDGET OF THE RANCH. FOLLOWING ARE SOME OF THE ITEMS THE MCCROSSAN FOUNDATION SUPPORTS: CAMPUS REPAIRS AND IMPROVEMENTS, NEW VEHICLES, BUILDING PROJECTS, NEW STAFF POSITIONS, UNFORESEEN EXPENSES, SCHOLARSHIPS FOR YOUTH THAT ARE IN NEED OF FUNDING TO ATTEND MCCROSSAN BOYS RANCH, NEW PROGRAMS AND MUCH MORE. MCCROSSAN FOUNDATION WILL ENSURE THAT MCCROSSAN BOYS RANCH REMAINS TO SERVE BOYS AND FAMILIES FOR MANY YEARS TO COME.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Elizabeth Lewis President | OfficerTrustee | 0.5 | $0 |
Donald Rahn Secretary/treasurer | OfficerTrustee | 0.5 | $0 |
Chris Nelson Vice President | OfficerTrustee | 0.5 | $0 |
Daniel Newell Board Member | Trustee | 0.5 | $0 |
Mark Vanden Berge From 032022 Board Member | Trustee | 0.5 | $0 |
Dave Reznicek Board Member | Trustee | 0.5 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $2,247,414 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $0 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $2,247,414 |
| Total Program Service Revenue | $0 |
| Investment income | $434,513 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $18,427 |
| Net Gain/Loss on Asset Sales | $297,102 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $2,997,456 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $959,471 |
| Grants and other assistance to domestic individuals. | $0 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $0 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $0 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $0 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $66,978 |
| Fees for services: Other | $0 |
| Advertising and promotion | $0 |
| Office expenses | $0 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $4,611 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $124,735 |
| Insurance | $500 |
| All other expenses | $61,021 |
| Total functional expenses | $1,217,316 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $16,954 |
| Pledges and grants receivable | $178,992 |
| 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 | $3,000 |
| Net Land, buildings, and equipment | $3,995,980 |
| Investments—publicly traded securities | $20,750,669 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $16,200 |
| Total assets | $24,961,795 |
| Accounts payable and accrued expenses | $0 |
| Grants payable | $0 |
| 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 | $0 |
| Total liabilities | $0 |
| Net assets without donor restrictions | $21,519,754 |
| Net assets with donor restrictions | $3,442,041 |
| 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 | $24,961,795 |
Grants Recieved
Over the last fiscal year, we have identified 1 grants that Mccrossan Foundation Inc has recieved totaling $10,000.
| Awarding Organization | Amount |
|---|---|
Adams-Mastrovich Family Foundation U A 15690 Las Vegas, NV PURPOSE: GENERAL OPERATING | $10,000 |
Endowment Analysis
| Beg. Balance | $940,747 |
| Earnings | -$29,519 |
| Net Contributions | $1,877,253 |
| Ending Balance | $2,788,481 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Charles K Blandin Foundation Grand Rapids, MN | $0 | $24,073,238 |
Hughes Charitable Foundation Jackson, WY | $5,676,764 | $10,003,792 |
Cargill Foundation Minneapolis, MN | $286,172,868 | $105,535,102 |
Schoeneckers Foundation Minneapolis, MN | $145,295,949 | $7,540,866 |
The Curtis L Carlson Family Foundation Minnetonka, MN | $300,826,673 | $21,132,663 |
Principal Financial Group Foundation Inc Des Moines, IA | $217,742,870 | $19,396,180 |
Andreas Foundation Mankato, MN | $70,794,995 | $28,410,107 |
Hirschfeld Family Foundation Inc Kearney, NE | $102,299,062 | $1,701,092 |
Frechette Family Foundation Minneapolis, MN | $167,055,978 | $9,430,765 |
Aegon Transamerica Foundation Cedar Rapids, IA | $190,245,485 | $26,330,387 |
Acklie Charitable Foundation Lincoln, NE | $0 | $4,995,097 |
Gianforte Fam Charitable Tr Bozeman, MT | $232,267,609 | $12,872,148 |