Frank A Morbeck Community Foundation Inc
- Assets
- $2.9m
- Revenue
- $127.7k
- Investments
- $2.9m
- Employees
- 0
- Location
- Wallace, ID
- Founding
- 06/1999
- Data as of
- 12/2023
- EIN
- 82-0509175
Organization Overview
Frank A Morbeck Community Foundation Inc is located in Wallace, ID. The organization was established in 1999. 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. Frank A Morbeck Community Foundation Inc 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, Frank A Morbeck Community Foundation Inc generated $127.7k in total revenue. This represents a relatively dramatic decline in revenue. Over the past 9 years, the organization has seen revenues fall by an average of (4.3%) each year. All expenses for the organization totaled $187.7k during the year ending 12/2023. As we would expect to see with falling revenues, expenses have declined by (0.3%) per year over the past 9 years. You can explore the organizations financials more deeply in the financial statements section below.
Since 2015, Frank A Morbeck Community Foundation Inc has awarded 293 individual grants totaling $1,503,588. 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.
Form
990PF
Mission & Program ActivityExcerpts From the 990PF Filing
TAX YEAR
2023
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE FOUNDATION PROVIDES SCHOLARSHIPS TO YOUNG PEOPLE AND MAKES DONATIONS TO QUALIFIED NONPROFIT ORGANIZATIONS IN AND AROUND THE CITY OF WALLACE, IDAHO TO SUPPORT THEIR CHARITABLE ACTIVITIES.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Michael K Branstetter President/direc | 1 | $100 | |
Dick L Vester Director/vp | 1 | $50 | |
Bill Mooney Director | 1 | $100 | |
Marilyn White Director/sec. | 2 | $100 | |
Chris Lund Director | 1 | $100 | |
Kathy Zanetti Director | 1 | $50 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $0 |
| Interest on Savings | $11,785 |
| Dividends & Interest | $63,745 |
| Net Rental Income | $0 |
| Net Gain on Sale of Assets | $52,127 |
| Capital Gain Net Income | $52,127 |
| Net ST Capital Gain | $0 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $0 |
| Other Income | $0 |
| Total Revenue | $127,657 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $10,600 |
| Other employee salaries and wages | $0 |
| Pension plans, employee benefits | $0 |
| Interest | $0 |
| Taxes | $1,161 |
| Depreciation | $0 |
| Occupancy | $0 |
| Travel, conferences, and meetings | $0 |
| Printing and publications | $0 |
| Other expenses | $4,093 |
| Total operating and administrative expenses | $36,113 |
| Contributions, gifts, grants paid | $151,590 |
| Total expenses and disbursements | $187,703 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $12,999 |
| 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 | $2,153 |
| Net Investments - land, buildings, equipment | $0 |
| Investments—mortgage loans | $0 |
| Investments—other | $0 |
| Net Land, buildings, and equipment | $0 |
| Other assets | $0 |
| Total assets | $2,893,180 |
| 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, Frank A Morbeck Community Foundation Inc has awarded $151,590 in support to 25 organizations.
| Grant Recipient | Amount |
|---|---|
NINE MILE CEMETERY ASSOC INC PURPOSE: CEMETERY MAINTENANCE | $1,000 |
WALLACE SCHOOL DISTRICT PURPOSE: EDUCATIONAL SUPPORT AND EQUIPMENT | $31,467 |
WALLACE DIST ARTS COUNCIL PURPOSE: SUPPORT FOR PUBLIC CONCERTS | $4,995 |
SILVER VALLEY BASEBALLBASKETBALL PURPOSE: TO BUY EQUIPMENT | $1,500 |
WALLACE CHAMBER OF COMMERCE PURPOSE: FESTIVAL EXPENSES | $3,500 |
UNIVERSITY OF IDAHO PURPOSE: SCHOLARSHIPS | $29,025 |