The Earl & Doris Bakken Foundation
- Assets
- $5.6m
- Revenue
- $744.9k
- Investments
- $5.1m
- Employees
- 0
- Location
- St Louis Park, MN
- Founding
- 01/2000
- Data as of
- 12/2021
- EIN
- 99-0339501
Organization Overview
The Earl & Doris Bakken Foundation is located in St Louis Park, MN. The organization was established in 2000. According to its NTEE Classification (T23) the organization is classified as: Private Operating 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. Earl & Doris Bakken 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, Earl & Doris Bakken Foundation generated $744.9k in total revenue. All expenses for the organization totaled $448.8k during the year ending 12/2021. While expenses have increased by 80.9% per year over the past 6 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 2016, Earl & Doris Bakken Foundation has awarded 50 individual grants totaling $1,035,601. 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 |
|---|---|---|---|
Jeffrey T Bakken Treasurer | 1 | $0 | |
Wendy K Watson Secretary | 1 | $0 | |
Pamela Bakken Petersmeyer Vice President | 1 | $0 | |
Bradley E Bakken President | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $0 |
| Interest on Savings | $169 |
| Dividends & Interest | $207,895 |
| Net Rental Income | $0 |
| Net Gain on Sale of Assets | $536,829 |
| Capital Gain Net Income | $536,829 |
| Net ST Capital Gain | $0 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $0 |
| Other Income | $0 |
| Total Revenue | $744,893 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $0 |
| Other employee salaries and wages | $0 |
| Pension plans, employee benefits | $0 |
| Interest | $0 |
| Taxes | $9,040 |
| Depreciation | $0 |
| Occupancy | $0 |
| Travel, conferences, and meetings | $0 |
| Printing and publications | $0 |
| Other expenses | $22,048 |
| Total operating and administrative expenses | $48,755 |
| Contributions, gifts, grants paid | $400,000 |
| Total expenses and disbursements | $448,755 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $586,746 |
| 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 | $150,000 |
| Net Land, buildings, and equipment | $0 |
| Other assets | $2,537 |
| Total assets | $5,643,448 |
| 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, The Earl & Doris Bakken Foundation has awarded $400,000 in support to 9 organizations.
| Grant Recipient | Amount |
|---|---|
EARL E BAKKEN CENTER FOR SPIRITUALITY & HEALING PURPOSE: GENERAL OPERATING | $60,000 |
Kamuela, HI PURPOSE: GENERAL OPERATING | $50,000 |
Kamuela, HI PURPOSE: GENERAL OPERATING | $50,000 |
Kamuela, HI PURPOSE: GENERAL OPERATING | $50,000 |
Kamuela, HI PURPOSE: GENERAL OPERATING | $50,000 |
FIRST LUTHERAN CHURCH PURPOSE: GENERAL OPERATING | $35,000 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Wacosa Waite Park, MN | $12,140,309 | $9,104,818 |
World Food Prize Foundation Urbandale, IA | $73,712,928 | $6,192,203 |
Chipstone Foundation Milwaukee, WI | $75,856,336 | $12,810,541 |
Johnson Foundation Inc Racine, WI | $58,249,744 | $4,338,703 |
Jeffers Foundation Plymouth, MN | $13,209,879 | $451,010 |
Childrens Museum Of South Dakota Brookings, SD | $7,565,049 | $1,438,522 |
Belwin Conservancy Afton, MN | $13,948,042 | $1,506,492 |
Miracle Ear Foundation Minneapolis, MN | $1,565,051 | $1,538,911 |
On His Path Danville, IA | $274,871 | $641,163 |
Ann Smeltzer Charitable Tr Fort Dodge, IA | $9,572,816 | $1,083,917 |
St Johns Elderly Housing Corporation Eau Claire, WI | $4,250,998 | $912,893 |
Farming For The Future Foundtn Inc Hancock, WI | $15,517,922 | $9,948,061 |