Burgum Foundation
- Assets
- $3.6m
- Revenue
- $671.2k
- Investments
- $3.4m
- Employees
- 0
- Location
- Arthur, ND
- Founding
- 01/2016
- Data as of
- 12/2021
- EIN
- 47-5349180
Organization Overview
Burgum Foundation is located in Arthur, ND. The organization was established in 2016. 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. Burgum 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, Burgum Foundation generated $671.2k 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 (19.3%) each year.
Since 2016, Burgum Foundation has awarded 135 individual grants totaling $1,576,683. 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 |
|---|---|---|---|
Katherine B Itterman President/treasurer/executive Director | 20 | $28,050 | |
Frederick W Burgum Board Chair/director | 2 | $0 | |
Brooks F Burgum Vice President/director | 0.5 | $0 | |
Jodelle J Burgum Secretary/director | 0.5 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $0 |
| Interest on Savings | $3,209 |
| Dividends & Interest | $203,136 |
| Net Rental Income | $0 |
| Net Gain on Sale of Assets | $464,810 |
| Capital Gain Net Income | $464,810 |
| Net ST Capital Gain | $0 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $0 |
| Other Income | $0 |
| Total Revenue | $671,155 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $28,050 |
| Other employee salaries and wages | $30,401 |
| Pension plans, employee benefits | $0 |
| Interest | $0 |
| Taxes | $6,425 |
| Depreciation | $0 |
| Occupancy | $12,000 |
| Travel, conferences, and meetings | $336 |
| Printing and publications | $0 |
| Other expenses | $1,047 |
| Total operating and administrative expenses | $92,220 |
| Contributions, gifts, grants paid | $555,873 |
| Total expenses and disbursements | $648,093 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $209,005 |
| 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 | $0 |
| Net Land, buildings, and equipment | $0 |
| Other assets | $157 |
| Total assets | $3,592,065 |
| 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, Burgum Foundation has awarded $555,873 in support to 38 organizations.
| Grant Recipient | Amount |
|---|---|
UND FOUNDATION PURPOSE: RURAL MASTER'S COMMITMENT | $100,136 |
UND FOUNDATION PURPOSE: RURAL MASTER'S COMMITMENT | $99,517 |
AMERICAN RED CROSS PURPOSE: TORNADO RELIEF | $72,463 |
Bismarck, ND PURPOSE: FALL 2021 TUITION - TLP (WILLISTON) | $21,207 |
Jamestown, ND PURPOSE: TECHNOLOGY MENTAL HEALTH GRANT | $20,689 |
DEVILS LAKE PUBLIC SCHOOLS PURPOSE: FALL 2021 TUITION NDSU TLA | $17,919 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Otto Bremer Trust St Paul, MN | $1,543,197,073 | $135,875,116 |
The Richard M Schulze Family Foundation Minneapolis, MN | $250,424,427 | $45,882,285 |
Dennis R Washington Foundation Inc Missoula, MT | $1,024,973,213 | $135,352,040 |
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 |
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 |
Target Foundation Minneapolis, MN | $85,335,634 | $55,020,175 |
Wem Foundation Minneapolis, MN | $121,487,044 | $26,370,141 |