Ely Health And Hospital Fund
- Assets
- $12.3m
- Revenue
- $125.6k
- Investments
- $0.0
- Employees
- 0
- Location
- Ely, MN
- Founding
- 12/2013
- Data as of
- 09/2020
- EIN
- 46-1836177
Organization Overview
Ely Health And Hospital Fund is located in Ely, MN. The organization was established in 2013. According to its NTEE Classification (E11) the organization is classified as: Single Organization Support, under the broad grouping of Health Care and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Ely Health And Hospital Fund 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 09/2020, Ely Health And Hospital Fund generated $125.6k in total revenue. This represents a relatively dramatic decline in revenue. Over the past 6 years, the organization has seen revenues fall by an average of (24.5%) each year. All expenses for the organization totaled $329.0 during the year ending 09/2020. As we would expect to see with falling revenues, expenses have declined by (61.4%) per year over the past 6 years. 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
2020
Describe the Organization's Mission:
Part 3 - Line 1
TO RECEIVE FUNDS AND MAKE DISTRIBUTIONS TO ORGANIZATIONS THAT QUALIFY AS EXEMPT ORGANIZATIONS UNDER CODE SECTION 501(C)(3) AND TO PROMOTE THE HEALTH OF THE RESIDENTS OF THE COMMUNITIES SERVED BY THE ELY-BLOOMENSON COMMUNITY HOSPITAL, A MINNESOTA NONPROFIT CORPORATION.
Describe the Organization's Program Activity:
Part 3 - Line 4a
TO RECEIVE FUNDS AND MAKE DISTRIBUTIONS TO ORGANIZATIONS THAT QUALIFY AS EXEMPT ORGANIZATIONS UNDER CODE SECTION 501(C)(3), AND TO PROMOTE THE HEALTH OF THE RESIDENTS OF THE COMMUNITIES SERVED BY THE ELY-BLOOMENSON COMMUNITY HOSPITAL, A MINNEASOTA NONPROFIT CORPORATION.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Scott Kellerman Treas. Til 12/31/21, Dir. Beg 1/1/22 | OfficerTrustee | 0.1 | $0 |
Tim Riley VP Until 12/31/21, Pres. Beg 1/1/22 | OfficerTrustee | 0.1 | $0 |
Kelly Klun Secretary | OfficerTrustee | 0.1 | $0 |
Devon Luthens Dir. Until 12/31/21, VP Beg 1/1/22 | OfficerTrustee | 0.1 | $0 |
Michael Pechek Treasurer Begin 1/1/22 | OfficerTrustee | 0.1 | $0 |
Sue Edginton President Until 12/31/21 | OfficerTrustee | 0.1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Total Revenue from Contributions, Gifts, Grants & Similar | $553 |
| Investment income | $619,948 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | -$494,942 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $125,559 |
| Statement of Expenses | |
|---|---|
| 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 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 | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $0 |
| Office expenses | $0 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $0 |
| 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 | $0 |
| Insurance | $0 |
| All other expenses | $0 |
| Total functional expenses | $329 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $137,663 |
| Pledges and grants receivable | $0 |
| 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 |
| Investments—publicly traded securities | $12,207,937 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $3,152 |
| Total assets | $12,348,752 |
| 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 | $0 |
| Net assets with donor restrictions | $0 |
| Capital stock or trust principal, or current funds | $0 |
| Paid-in or capital surplus, or land, building, or equipment fund | $0 |
| Total liabilities and net assets/fund balances | $12,348,752 |
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