Gold Bay Foundation
- Assets
- $0.0
- Revenue
- $1.8m
- Investments
- $34.2m
- Employees
- 0
- Location
- Minneapolis, MN
- Founding
- 12/2015
- Data as of
- 12/2021
- EIN
- 47-4002921
Organization Overview
Gold Bay Foundation is located in Minneapolis, 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. Gold Bay 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, Gold Bay Foundation generated $1.8m 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 (35.0%) each year. All expenses for the organization totaled $2.1m during the year ending 12/2021. You can explore the organizations financials more deeply in the financial statements section below.
Since 2016, Gold Bay Foundation has awarded 102 individual grants totaling $9,324,856. 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 |
|---|---|---|---|
Barbara Gold Lurie Pres/dir | 1 | $0 | |
Keith Lurie Treas/sec/dir | 1 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Evercore Wealth Management | 12/30/22 | $156,142 |
Kerrie Blevins Consulting | 12/30/22 | $146,006 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $0 |
| Interest on Savings | $302,579 |
| Dividends & Interest | $320,825 |
| Profit on Inventory Sales | $0 |
| Other Income | -$46,623 |
| Total Revenue | $1,846,791 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $0 |
| Pension plans, employee benefits | $0 |
| Depreciation | $0 |
| Occupancy | $0 |
| Travel, conferences, and meetings | $521 |
| Printing and publications | $0 |
| Total operating and administrative expenses | $309,226 |
| Contributions, gifts, grants paid | $1,770,300 |
| Total expenses and disbursements | $2,079,526 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Investments—mortgage loans | $0 |
| Investments—other | $16,556,971 |
| Other assets | $0 |
| Mortgages and other notes payable | $0 |
| Other liabilities | $0 |
Grants Awarded
Over the last fiscal year, Gold Bay Foundation has awarded $1,950,656 in support to 25 organizations.
| Grant Recipient | Amount |
|---|---|
TEMPLE OF ISRAEL PURPOSE: VOICES 2022 | $10,000 |
MINNESOTA ORCHESTRAL ASSOCIATION PURPOSE: SYMPHONY BALL | $10,000 |
TRUST FOR PUBLIC LAND PURPOSE: GENERAL OPERATING SUPPORT | $75,000 |
FRIENDS OF HENNEPIN COUNTY LIBRARY PURPOSE: GENERAL OPERATING SUPPORT | $5,000 |
UNIVERSITY OF MINNESOTA FOUNDATION PURPOSE: SOLAR VEHICLE PROJECT | $2,500 |
UNIVERSITY OF MINNESOTA FOUNDATION PURPOSE: COLLEGE PATHWAYS FUND | $65,156 |