Edward L Schwab Memorial Foundation
- Assets
- $1.7m
- Revenue
- $383.5k
- Investments
- $676.7k
- Employees
- 0
- Location
- Aberdeen, SD
- Founding
- 04/1997
- Data as of
- 08/2024
- EIN
- 91-1770168
Organization Overview
Edward L Schwab Memorial Foundation is located in Aberdeen, SD. The organization was established in 1997. 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. Edward L Schwab Memorial 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 08/2024, Edward L Schwab Memorial Foundation generated $383.5k in total revenue. This represents relatively stable growth, over the past 9 years the organization has increased revenue by an average of 2.4% each year. All expenses for the organization totaled $339.9k during the year ending 08/2024. While expenses have increased by 4.0% per year over the past 9 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 2015, Edward L Schwab Memorial Foundation has awarded 265 individual grants totaling $2,167,752. 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 |
|---|---|---|---|
Tom Labrie President | 0.5 | $0 | |
Tammie Paulson Member | 0.5 | $0 | |
Barb Desnoyers Secretary/treasurer | 0.5 | $0 | |
David Moritz Vice President | 0.5 | $0 | |
Matt Hofman Member | 0.5 | $0 | |
Dacotah Bank Manager | 1 | $34,585 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $561 |
| Interest on Savings | $0 |
| Dividends & Interest | $30,038 |
| Net Rental Income | $301,404 |
| Net Gain on Sale of Assets | $13,046 |
| Capital Gain Net Income | $13,046 |
| Net ST Capital Gain | $0 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $0 |
| Other Income | $154 |
| Total Revenue | $383,476 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $34,585 |
| Other employee salaries and wages | $0 |
| Pension plans, employee benefits | $0 |
| Interest | $0 |
| Taxes | $39,379 |
| Depreciation | $0 |
| Occupancy | $0 |
| Travel, conferences, and meetings | $0 |
| Printing and publications | $0 |
| Other expenses | $2,648 |
| Total operating and administrative expenses | $77,419 |
| Contributions, gifts, grants paid | $262,470 |
| Total expenses and disbursements | $339,889 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $84,332 |
| 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 | $955,852 |
| Investments—mortgage loans | $0 |
| Investments—other | $68,395 |
| Net Land, buildings, and equipment | $0 |
| Other assets | $0 |
| Total assets | $1,716,913 |
| 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, Edward L Schwab Memorial Foundation has awarded $262,470 in support to 33 organizations.
| Grant Recipient | Amount |
|---|---|
UNIVERSITY OF NORTHWESTERN ST PAUL PURPOSE: SCHOLARSHIPS | $1,224 |
CONCORDIA COLLEGE PURPOSE: SCHOLARSHIPS | $2,421 |
SOUTHEAST COMMUNITY COLLEGE PURPOSE: SCHOLARSHIPS | $2,394 |
UNIVERSITY OF MARY PURPOSE: SCHOLARSHIPS | $1,197 |
DAKOTA STATE UNIVERSITY PURPOSE: SCHOLARSHIPS | $7,140 |
DORDT UNIVERSITY PURPOSE: SCHOLARSHIPS | $3,646 |