Mortensen Family Foundation
- Assets
- $497.5k
- Revenue
- $224.3k
- Investments
- $450.5k
- Employees
- 0
- Location
- Afton, MN
- Founding
- 03/2015
- Data as of
- 12/2021
- EIN
- 47-2613176
Organization Overview
Mortensen Family Foundation is located in Afton, MN. The organization was established in 2015. 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. Mortensen 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 12/2021, Mortensen Family Foundation generated $224.3k in total revenue. This organization has experienced exceptional growth, as over the past 6 years, it has increased revenue by an average of 34.8% each year . All expenses for the organization totaled $186.6k during the year ending 12/2021. While expenses have increased by 15.3% per year over the past 6 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 2016, Mortensen Family Foundation has awarded 22 individual grants totaling $811,000. 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.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Nicolle Mortensen Trustee | 1 | $0 | |
David Mortensen Trustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $4,511 |
| Interest on Savings | $310 |
| Dividends & Interest | $8,383 |
| Net Rental Income | $0 |
| Net Gain on Sale of Assets | $211,124 |
| Capital Gain Net Income | $211,124 |
| Net ST Capital Gain | $0 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $0 |
| Other Income | $0 |
| Total Revenue | $224,328 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $0 |
| Other employee salaries and wages | $0 |
| Pension plans, employee benefits | $0 |
| Interest | $0 |
| Taxes | $1,511 |
| Depreciation | $0 |
| Occupancy | $0 |
| Travel, conferences, and meetings | $0 |
| Printing and publications | $0 |
| Other expenses | $0 |
| Total operating and administrative expenses | $6,630 |
| Contributions, gifts, grants paid | $180,000 |
| Total expenses and disbursements | $186,630 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $47,048 |
| Savings and temporary cash investments | $0 |
| 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 | $450,492 |
| Net Land, buildings, and equipment | $0 |
| Other assets | $0 |
| Total assets | $497,540 |
| 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, Mortensen Family Foundation has awarded $180,000 in support to 8 organizations.
| Grant Recipient | Amount |
|---|---|
St Louis Park, MN PURPOSE: SUPPORT CHILDREN IN NEED | $95,000 |
RAISE THE BARR FOUNDATION PURPOSE: GENERAL SUPPORT | $35,000 |
Cottage Grove, MN PURPOSE: SUPPORT THE WORD OF GOD | $20,000 |
Washington, DC PURPOSE: GENERAL SUPPORT | $10,000 |
Woodbury, MN PURPOSE: GENERAL SUPPORT | $10,000 |
98 5 KTIS PURPOSE: GENERAL SUPPORT | $6,000 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Otto Bremer Trust St Paul, MN | $1,543,197,073 | $135,875,116 |
The Robert D And Patricia E Kern Family Foundation Inc Waukesha, WI | $717,991,169 | $43,480,423 |
The Richard M Schulze Family Foundation Minneapolis, MN | $250,424,427 | $45,882,285 |
Fred C And Katherine B Andersen Foundation Bayport, MN | $1,210,701,778 | $63,445,932 |
Manitou Fund White Bear Lake, MN | $1,003,593,689 | $40,882,622 |
Lynne & Andrew Redleaf Foundation Minneapolis, MN | $127,717,345 | $981,960 |
Northwest Area Foundation St Paul, MN | $512,755,007 | $38,144,816 |
U S Bancorp Foundation Milwaukee, WI | $68,350,907 | $6,892,078 |
Medtronic Communities Foundation Minneapolis, MN | $54,271,830 | $230,239 |
General Mills Foundation Minneapolis, MN | $0 | -$304,053 |
J A Wedum Foundation Plymouth, MN | $141,295,178 | $28,441,684 |
Bader Philanthropies Inc Milwaukee, WI | $26,809,232 | $30,829,351 |