Afremov Foundation
- Assets
- $2.4m
- Revenue
- $303.9k
- Investments
- $2.2m
- Employees
- 0
- Location
- Minnetonka, MN
- Founding
- 08/2005
- Data as of
- 12/2021
- EIN
- 20-3137478
Organization Overview
Afremov Foundation is located in Minnetonka, MN. The organization was established in 2005. 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. Afremov 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, Afremov Foundation generated $303.9k in total revenue. This organization has experienced exceptional growth, as over the past 7 years, it has increased revenue by an average of 17.9% each year . All expenses for the organization totaled $127.2k during the year ending 12/2021. You can explore the organizations financials more deeply in the financial statements section below.
Since 2015, Afremov Foundation has awarded 23 individual grants totaling $753,000. 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 |
|---|---|---|---|
Michael R Afremov President | 1 | $0 | |
Lorie Afremov Secretary/treasurer | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $16,887 |
| Interest on Savings | $0 |
| Dividends & Interest | $44,387 |
| Net Rental Income | $0 |
| Net Gain on Sale of Assets | $242,644 |
| Capital Gain Net Income | $242,644 |
| Net ST Capital Gain | $0 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $0 |
| Other Income | $0 |
| Total Revenue | $303,918 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $0 |
| Other employee salaries and wages | $0 |
| Pension plans, employee benefits | $0 |
| Interest | $0 |
| Taxes | $8,603 |
| Depreciation | $0 |
| Occupancy | $0 |
| Travel, conferences, and meetings | $0 |
| Printing and publications | $0 |
| Other expenses | $25 |
| Total operating and administrative expenses | $50,685 |
| Contributions, gifts, grants paid | $76,500 |
| Total expenses and disbursements | $127,185 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $181,432 |
| 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 | $662,780 |
| Net Land, buildings, and equipment | $0 |
| Other assets | $118 |
| Total assets | $2,367,436 |
| 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, Afremov Foundation has awarded $76,500 in support to 3 organizations.
| Grant Recipient | Amount |
|---|---|
Eden Prairie, MN PURPOSE: GENERAL PURPOSE | $50,000 |
CONCORDIA LANGUAGE VILLAGE PURPOSE: RUSSIAN LANGUAGE VILLAGE | $24,500 |
Minnetonka, MN PURPOSE: GENERAL PURPOSE | $2,000 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Otto Bremer Trust St Paul, MN | $1,543,197,073 | $135,875,116 |
The Robert D And Patricia E Kern Family Foundation Inc Waukesha, WI | $717,991,169 | $43,480,423 |
The Richard M Schulze Family Foundation Minneapolis, MN | $250,424,427 | $45,882,285 |
Fred C And Katherine B Andersen Foundation Bayport, MN | $1,210,701,778 | $63,445,932 |
Manitou Fund White Bear Lake, MN | $1,003,593,689 | $40,882,622 |
Lynne & Andrew Redleaf Foundation Minneapolis, MN | $127,717,345 | $981,960 |
Northwest Area Foundation St Paul, MN | $512,755,007 | $38,144,816 |
U S Bancorp Foundation Milwaukee, WI | $68,350,907 | $6,892,078 |
Medtronic Communities Foundation Minneapolis, MN | $54,271,830 | $230,239 |
General Mills Foundation Minneapolis, MN | $0 | -$304,053 |
J A Wedum Foundation Plymouth, MN | $141,295,178 | $28,441,684 |
Bader Philanthropies Inc Milwaukee, WI | $26,809,232 | $30,829,351 |