Minnesota Real Estate Foundation
- Assets
- $615.8k
- Revenue
- $4.5k
- Investments
- $0.0
- Employees
- 0
- Location
- St Cloud, MN
- Founding
- 03/2004
- Data as of
- 06/2022
- EIN
- 02-0702439
Organization Overview
Minnesota Real Estate Foundation is located in St Cloud, MN. The organization was established in 2004. According to its NTEE Classification (T30) the organization is classified as: Public 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. Minnesota Real Estate 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 06/2022, Minnesota Real Estate Foundation generated $4.5k in total revenue. The organization has seen a slow decline revenue. Over the past 7 years, revenues have fallen by an average of (2.2%) each year. All expenses for the organization totaled $623.0 during the year ending 06/2022. As we would expect to see with falling revenues, expenses have declined by (16.6%) per year over the past 7 years. You can explore the organizations financials more deeply in the financial statements section below.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2022
Describe the Organization's Mission:
Part 3 - Line 1
BUILD COMMUNITY BY FACILITATING GIFTING OF REAL ESTATE
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE MINNESOTA REAL ESTATE FOUNDATION (MREF), A SUPPORTING ENTITY OF COMMUNITYGIVING, IS ORGANIZED AND OPERATED EXCLUSIVELY FOR THE BENEFIT OF AND TO CARRY OUT THE PURPOSES OF COMMUNITYGIVING BY FACILITATING THE CHARITABLE GIFTING OF REAL ESTATE FROM INDIVIDUALS AND OTHER ENTITIES FOR THE BENEFIT OF COMMUNITYGIVING AND OTHER NONPROFITS AROUND THE STATE OF MINNESOTA. MREF PROVIDED ASSISTANCE TO NONPROFITS THROUGH PRESENTATIONS TO BOARDS AND COMMITTEES AND PROVIDED CONSULTATIONS TO THEM IN COMPLETING REAL ESTATE TRANSACTIONS. IN ADDITION TO TRADITIONAL NONPROFIT ORGANIZATIONS, MREF PROVIDES SERVICES TO STATE AND PRIVATE COLLEGES AND CITY GOVERNMENTS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Brian Zimny Vice-Chair | OfficerTrustee | 0.5 | $0 |
Rod Osterloh Treasurer | OfficerTrustee | 0.5 | $0 |
Allen Bright Secretary | OfficerTrustee | 0.5 | $0 |
David Werschay Chair | OfficerTrustee | 0.5 | $0 |
Steven Joul President & CEO | Officer | 1 | $0 |
Leigh Lenzmeier Director | Trustee | 0.5 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $0 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $0 |
| Total Program Service Revenue | $0 |
| Investment income | $0 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $4,498 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $0 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $0 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $0 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $500 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $0 |
| Office expenses | $91 |
| Information technology | $32 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $0 |
| All other expenses | $0 |
| Total functional expenses | $623 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $76,463 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $26,500 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $0 |
| Net Land, buildings, and equipment | $0 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $512,850 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $615,813 |
| Accounts payable and accrued expenses | $0 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| Tax-exempt bond liabilities | $0 |
| Escrow or custodial account liability | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $0 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $512,850 |
| Total liabilities | $512,850 |
| Net assets without donor restrictions | $102,963 |
| Net assets with donor restrictions | $0 |
| Capital stock or trust principal, or current funds | $0 |
| Paid-in or capital surplus, or land, building, or equipment fund | $0 |
| Retained earnings, endowment, accumulated income, or other funds | $0 |
| Total liabilities and net assets/fund balances | $615,813 |
Grants Awarded
Over the last fiscal year, Minnesota Real Estate Foundation has awarded $433,305 in support to 2 organizations.
| Grant Recipient | Amount |
|---|---|
St Cloud, MN PURPOSE: GENERAL SUPPORT | $418,305 |
Minneapolis, MN PURPOSE: COUNSELING TRAINING | $15,000 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
David Lynch Foundation For Consciousness-Based Education And Fairfield, IA | $9,280,358 | $8,736,448 |
Steve Stricker American Family Insurance Foundation Inc Madison, WI | $5,745,517 | $4,719,862 |
Hope Gospel Mission Inc Eau Claire, WI | $10,860,307 | $6,194,588 |
Community Foundation Of Johnson Coralville, IA | $45,550,796 | $9,673,780 |
The American Center For Philanthropy Inc Northfield, MN | $38,336,369 | $9,301,432 |
Lyon County Riverboat Foundation Inc Rock Rapids, IA | $2,226,608 | $3,365,358 |
Morgan Memorial Foundation Inc Morgan, MN | $3,017,509 | $3,804,451 |
Believers Stewardship Services Inc Dubuque, IA | $18,487,302 | $3,760,622 |
Nexus Community Partners Saint Paul, MN | $15,080,839 | $10,294,112 |
Caseys Charities Ankeny, IA | $167,680 | $3,051,265 |
Frances L Nelson Foundation Ltd Madison, WI | $5,074 | -$19,273 |
Laboure Society Eagan, MN | $5,263,561 | $3,075,426 |