Norma Pace Foundation
- Assets
- $16.4m
- Revenue
- $579.9k
- Investments
- $12.2m
- Employees
- 0
- Location
- Minneapolis, MN
- Founding
- 01/2017
- Data as of
- 12/2023
- EIN
- 81-6722062
Organization Overview
Norma Pace Foundation is located in Minneapolis, MN. 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. Norma Pace 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 12/2023, Norma Pace Foundation generated $579.9k 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 (22.8%) each year. All expenses for the organization totaled $1.2m during the year ending 12/2023. You can explore the organizations financials more deeply in the financial statements section below.
Since 2018, Norma Pace Foundation has awarded 109 individual grants totaling $4,072,015. 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 |
|---|---|---|---|
Richard E Lepore II Co-Trustee | 1 | $86,250 | |
Alexander Lepore Co-Trustee | 1 | $86,250 | |
Ameriprise Bank Fsb Co-Trustee | 1 | $46,057 | |
Geraldine Feola Co-Trustee | 1 | $7,000 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $0 |
| Interest on Savings | $0 |
| Dividends & Interest | $502,661 |
| Net Rental Income | $0 |
| Net Gain on Sale of Assets | $77,209 |
| Capital Gain Net Income | $77,209 |
| Net ST Capital Gain | $0 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $0 |
| Other Income | $0 |
| Total Revenue | $579,870 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $225,557 |
| Other employee salaries and wages | $0 |
| Pension plans, employee benefits | $0 |
| Interest | $0 |
| Taxes | $10,893 |
| Depreciation | $0 |
| Occupancy | $0 |
| Travel, conferences, and meetings | $0 |
| Printing and publications | $0 |
| Other expenses | $750 |
| Total operating and administrative expenses | $275,117 |
| Contributions, gifts, grants paid | $913,500 |
| Total expenses and disbursements | $1,188,617 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $4,226,894 |
| 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 | $16,411,840 |
| 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, Norma Pace Foundation has awarded $913,500 in support to 20 organizations.
| Grant Recipient | Amount |
|---|---|
DANA-FARBER CANCER INSTITUTE PURPOSE: GENERAL | $12,500 |
LUSTGARTEN FOUNDATION PURPOSE: GENERAL | $20,000 |
THE NEW YORK FOUNDLING PURPOSE: GENERAL | $20,000 |
MARY IMMACULATE CATHOLIC CHURCH PURPOSE: GENERAL | $10,000 |
ST NICHOLAS CATHOLIC CHURCH PURPOSE: GENERAL | $10,000 |
NO ONE BURIED ALONE CATHOLIC MINISTRY PURPOSE: GENERAL CHARITABLE PURPOSE | $27,000 |