Farstad Foundation
- Assets
- $0.0
- Revenue
- $145.0k
- Investments
- $0.0
- Employees
- 0
- Location
- Minot, ND
- Founding
- 02/2017
- Data as of
- 12/2021
- EIN
- 81-3844675
Organization Overview
Farstad Foundation is located in Minot, ND. The organization was established in 2017. According to its NTEE Classification (T22) the organization is classified as: Private Independent 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. Farstad 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, Farstad Foundation generated $145.0k in total revenue. This represents relatively stable growth, over the past 4 years the organization has increased revenue by an average of 8.4% each year. All expenses for the organization totaled $183.4k during the year ending 12/2021. You can explore the organizations financials more deeply in the financial statements section below.
Since 2016, Farstad Foundation has awarded 11 individual grants totaling $601,959. 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 |
|---|---|---|---|
Jeffery Farstad President | 1 | $0 | |
Christine Jaeger Secretary/treasurer | 5 | $0 | |
Kathy Farstad Director | 1 | $0 | |
Shane Farstad Director | 1 | $0 | |
Teresa Coleman Director | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $145,000 |
| Interest on Savings | $0 |
| Dividends & Interest | $0 |
| Net Rental Income | $0 |
| Net Gain on Sale of Assets | $0 |
| Capital Gain Net Income | $0 |
| Net ST Capital Gain | $0 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $0 |
| Other Income | $0 |
| Total Revenue | $145,000 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $0 |
| Other employee salaries and wages | $0 |
| Pension plans, employee benefits | $0 |
| Interest | $0 |
| Taxes | $0 |
| Depreciation | $0 |
| Occupancy | $0 |
| Travel, conferences, and meetings | $0 |
| Printing and publications | $0 |
| Other expenses | $3,239 |
| Total operating and administrative expenses | $5,448 |
| Contributions, gifts, grants paid | $177,959 |
| Total expenses and disbursements | $183,407 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| 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 | $0 |
| Net Land, buildings, and equipment | $0 |
| Other assets | $0 |
| Total assets | $0 |
| 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, Farstad Foundation has awarded $177,959 in support to 3 organizations.
| Grant Recipient | Amount |
|---|---|
SOURIS VALLEY ANIMAL SHELTER PURPOSE: TO PROVIDE SUPPORT FOR NEW BUILDING. | $150,000 |
DAKOTA TERRITORY AIR MUSEUM PURPOSE: GENERAL OPERATIONS AND SCHOLARSHIPS. | $25,000 |
Rolla, ND PURPOSE: GENERAL OPERATIONS. | $2,959 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Ghr Foundation Minneapolis, MN | $0 | $118,752,892 |
Goodman Family Operating Foundation Chaska, MN | $298,216,479 | $15,439,155 |
Wca Foundation C/O The Minneapolis Foundation Minneapolis, MN | $0 | $1,050,329 |
Esther And Harold Mertz Foundation Sioux Falls, SD | $674,132,608 | $21,835,940 |
Larson Foundation Sioux Falls, SD | $23,259,212 | -$633,184 |
John T Vucurevich Foundation Rapid City, SD | $151,565,692 | $20,798,188 |
Pohlad Family Foundation Minneapolis, MN | $102,001,164 | $18,381,775 |
F R Bigelow Foundation Trust 555 St Paul, MN | $202,026,485 | $23,166,449 |
David And Janis Larson Foundation Minneapolis, MN | $131,263,001 | -$404,078 |
The Jennings Family Foundation Edina, MN | $20,317,059 | $4,027,228 |
Rob and Terry Ryan Foundation (MONTANA) INC Hamilton, MT | $0 | $1,856,642 |
Kaena Foundation Minneapolis, MN | $0 | $2,288,902 |