Milbank Community Foundation
- Assets
- $1.4m
- Revenue
- $797.7k
- Investments
- $0.0
- Employees
- 1
- Location
- Milbank, SD
- Founding
- 10/1993
- Data as of
- 12/2021
- EIN
- 46-0427565
Organization Overview
Milbank Community Foundation is located in Milbank, SD. The organization was established in 1993. 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. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Milbank Community 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 12/2021, Milbank Community Foundation generated $797.7k 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 (3.3%) each year. All expenses for the organization totaled $739.0k during the year ending 12/2021. As we would expect to see with falling revenues, expenses have declined by (1.1%) per year over the past 7 years. You can explore the organizations financials more deeply in the financial statements section below.
Since 2015, Milbank Community Foundation has awarded 45 individual grants totaling $1,165,520. 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
CHARITABLE AND BENEVOLENT PURPOSES FOR THE BENEFIT OF THE RESIDENTS OF MILBANK, SOUTH DAKOTA.
Describe the Organization's Program Activity:
Part 3 - Line 4a
VARIOUS PROGRAMS AND SCHOLARSHIPS FOR THE BENEFIT OF RESIDENTS OF THE GRANT COUNTY, SOUTH DAKOTA AREA. THE PURPOSE OF THE FOUNDATION IS TO BROADEN THE OPPORTUNITIES FOR SOCIAL, CULTURAL, EDUCATIONAL AND RECREATIONAL DEVELOPMENT FOR ALL RESIDENT OF THE GRANT COUNTY AREA. THE FOUNDATION IS COMMITTED TO CONTRIBUTING TO THE COMMUNITY IN WAYS THAT WILL ENHANCE THE SOCIAL AND ECONOMIC WELL-BEING OF EVERYONE.
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PDF Copies of 990 Filings
Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Craig Wellnitz Finance Director | Officer | 45 | $52,811 |
Greg Thomas Secretary/treasurer | OfficerTrustee | 0.2 | $0 |
Mark Bierschbach Vice President | OfficerTrustee | 0.2 | $0 |
Mark Leddy President | OfficerTrustee | 0.5 | $0 |
Tana Mundwiler Director | Trustee | 0.2 | $0 |
Jeff Jones Director | Trustee | 0.2 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Mc & R Pools Renovated Pool Area | 12/30/20 | $107,249 |
Scr Inc - St Cloud Renovated Pool Area | 12/30/20 | $101,383 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $67,260 |
| All other contributions, gifts, grants, and similar amounts not included above | $607,066 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $674,326 |
| Total Program Service Revenue | $20,732 |
| Investment income | $51,153 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $51,441 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $797,652 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $583,397 |
| Grants and other assistance to domestic individuals. | $29,750 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $54,767 |
| Compensation of current officers, directors, key employees. | $25,193 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $12,390 |
| Pension plan accruals and contributions | $1,402 |
| Other employee benefits | $11,640 |
| Payroll taxes | $4,539 |
| 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 | $1,788 |
| Fees for services: Other | $19,117 |
| Advertising and promotion | $727 |
| Office expenses | $3,148 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $1,209 |
| Travel | $1,893 |
| 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 | $150 |
| Insurance | $1,790 |
| All other expenses | $3,818 |
| Total functional expenses | $739,024 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $452,570 |
| Pledges and grants receivable | $11,388 |
| 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 | $1,231 |
| Investments—publicly traded securities | $970,376 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $1,435,565 |
| Accounts payable and accrued expenses | $88,020 |
| Grants payable | $103,541 |
| 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 | $191,561 |
| Net assets without donor restrictions | $543,134 |
| Net assets with donor restrictions | $700,870 |
| 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 | $1,435,565 |
Grants Awarded
Over the last fiscal year, Milbank Community Foundation has awarded $508,545 in support to 6 organizations.
| Grant Recipient | Amount |
|---|---|
CITY OF MILBANK PURPOSE: Health/Human Service and Youth Development; Unity Square improvements | $402,100 |
Milbank, SD PURPOSE: Health/Human Service | $71,089 |
Milbank, SD PURPOSE: Youth Development | $11,089 |
Milbank, SD PURPOSE: Youth Development | $9,089 |
Sisseton, SD PURPOSE: Health/Human Service | $9,089 |
Milbank, SD PURPOSE: Youth Development | $6,089 |
Grants Recieved
Over the last fiscal year, we have identified 1 grants that Milbank Community Foundation has recieved totaling $590.
| Awarding Organization | Amount |
|---|---|
First Interstate Bancsystem Foundation Inc Billings, MT PURPOSE: GENERAL OPERATING SUPPORT | $590 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Community Fdn Of Greater Des Moines Des Moines, IA | $756,930,676 | $144,988,273 |
Omaha Community Foundation Donor Directed Depository Omaha, NE | $49,176,399 | $38,155,808 |
Nebraska Community Foundation Lincoln, NE | $227,749,373 | $20,781,363 |
Community Foundation Of Jackson Hole Jackson, WY | $113,990,661 | $47,502,372 |
Sioux Falls Area Community Foundation Inc Sioux Falls, SD | $264,068,911 | $59,923,672 |
Lincoln Community Foundation Inc Lincoln, NE | $161,472,860 | $29,470,305 |
Catholic Community Foundation Of Minnesota St Paul, MN | $510,001,439 | $72,097,381 |
Communitygiving St Cloud, MN | $193,103,222 | $46,523,540 |
Quad Cities Community Foundation Bettendorf, IA | $165,771,747 | $15,098,956 |
Greater Cedar Rapids Community Foundation Cedar Rapids, IA | $223,368,352 | $26,493,454 |
3m Open Fund Blaine, MN | $2,792,523 | $13,492,516 |
Fargo-Moorhead Area Foundation Corporation Fargo, ND | $123,601,833 | $30,025,035 |