Norma Pace Foundation
- Assets
- $17.7m
- Revenue
- $6.4m
- Investments
- $14.4m
- Employees
- 0
- Location
- Minneapolis, MN
- Founding
- 01/2017
- Data as of
- 12/2021
- 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 12/2021, Norma Pace Foundation generated $6.4m in total revenue. This organization has experienced exceptional growth, as over the past 4 years, it has increased revenue by an average of 23.5% each year . All expenses for the organization totaled $1.1m during the year ending 12/2021. While expenses have increased by 15.2% per year over the past 4 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 2018, Norma Pace Foundation has awarded 70 individual grants totaling $2,196,515. 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 | $95,280 | |
Alexander Lepore Co-Trustee | 1 | $95,280 | |
Ameriprise Bank Fsb Co-Trustee | 1 | $49,355 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $5,880,751 |
| Interest on Savings | $0 |
| Dividends & Interest | $257,673 |
| Net Rental Income | $0 |
| Net Gain on Sale of Assets | $207,848 |
| Capital Gain Net Income | $207,848 |
| Net ST Capital Gain | $0 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $0 |
| Other Income | $9,138 |
| Total Revenue | $6,355,410 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $239,915 |
| Other employee salaries and wages | $0 |
| Pension plans, employee benefits | $0 |
| Interest | $0 |
| Taxes | $5,434 |
| Depreciation | $0 |
| Occupancy | $0 |
| Travel, conferences, and meetings | $0 |
| Printing and publications | $0 |
| Other expenses | $273 |
| Total operating and administrative expenses | $291,817 |
| Contributions, gifts, grants paid | $781,000 |
| Total expenses and disbursements | $1,072,817 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | -$16,750 |
| Savings and temporary cash investments | $3,383,908 |
| 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 | $10,806,088 |
| Net Land, buildings, and equipment | $0 |
| Other assets | $0 |
| Total assets | $17,746,466 |
| 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 $781,000 in support to 20 organizations.
| Grant Recipient | Amount |
|---|---|
New York, NY PURPOSE: GENERAL | $200,000 |
CATHOLIC COMMUNITY SCHOOLS FUND PURPOSE: GENERAL | $200,000 |
Boston, MA PURPOSE: GENERAL | $50,000 |
MT CARMEL-HOLY ROSARY SCHOOL PURPOSE: GENERAL | $50,000 |
OUR LADY OF MOUNT CARMEL CHURCH PURPOSE: GENERAL | $40,000 |
New York, NY PURPOSE: GENERAL | $26,000 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Goodman Family Operating Foundation Chaska, MN | $298,216,479 | $15,439,155 |
Robert And Adele Schiff Family Foundation Inc Milwaukee, WI | $226,331,394 | $18,541,997 |
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 |
Fund For Wisconsin Scholars Inc Madison, WI | $273,321,225 | $22,010,196 |
Pohlad Family Foundation Minneapolis, MN | $102,001,164 | $18,381,775 |
Roy J Carver Charitable Tr Muscatine, IA | $235,043,756 | $22,231,044 |
F R Bigelow Foundation Trust 555 St Paul, MN | $202,026,485 | $23,166,449 |
Lewis W Hyer Trust 098310c Milwaukee, WI | $167,937,358 | $18,090,828 |
Charles E Lakin Foundation Inc Council Bluffs, IA | $146,415,136 | $18,758,116 |