The Barry Foundation
- Assets
- $54.8m
- Revenue
- $3.8m
- Investments
- $53.4m
- Employees
- 0
- Location
- Fargo, ND
- Founding
- 12/2015
- Data as of
- 12/2021
- EIN
- 20-5767275
Organization Overview
The Barry Foundation is located in Fargo, ND. The organization was established in 2015. 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. Barry 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, Barry Foundation generated $3.8m in total revenue. This organization has experienced exceptional growth, as over the past 3 years, it has increased revenue by an average of 30.1% each year . All expenses for the organization totaled $2.4m during the year ending 12/2021. You can explore the organizations financials more deeply in the financial statements section below.
Since 2020, Barry Foundation has awarded 895 individual grants totaling $4,550,472. 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
2021
Describe the Organization's Program Activity:
Part 3 - Line 4a
PHILANTHROPY AND YOUTH (PAY) IS A PROGRAM THAT INTRODUCES HIGH SCHOOL STUDENTS TO PHILANTHROPY. IN 2022, 550 STUDENTS FROM 19 AREA HIGH SCHOOLS MADE 133 GRANTS TO 90 ORGANIZATIONS TOTALING $95,000.
THE PAY SUMMER INTERNSHIP PROGRAM PROVIDES SELECTED PAY STUDENTS WITH A SUMMER INTERNSHIP AT A LOCAL NONPROFIT ORGANIZATION. THE PROGRAM HAS BEEN PAUSED DUE TO THE COVID PANDEMIC FROM 2020-2022 AND WILL BE RELAUNCHED IN 2023.
THE BARRY FOUNDATION DEVELOPED A SCHOLARSHIP PROGRAM IN FULFILLMENT OF THE FOUNDATION'S COMMITMENT TO PHILANTHROPY AND PROMISE TO INVEST IN THE POTENTIAL OF STUDENTS. THE PURPOSE OF THE ORIGINAL SCHOLARSHIP PROGRAM WAS TO PROVIDE UP TO A FOUR-YEAR ($5,000 PER YEAR) RENEWABLE GRANT TO INDIVIDUALS INVOLVED IN THE PAY PROGRAM DURING HIGH SCHOOL TO ENABLE THE RECIPIENTS TO COMPLETE AN UNDERGRADUATE DEGREE AT A NON-PROFIT COLLEGE OF THEIR CHOICE IN THE UNITED STATES. OUTSIDE OF FINANCIAL SUPPORT, THE BARRY SCHOLARSHIP PROGRAM IS ALSO A COHORT EXPERIENCE THAT PROVIDES PROFESSIONAL AND EDUCATIONAL GUIDANCE, AS WELL AS PERSONAL DEVELOPMENT OPPORTUNITIES. THE SCHOLARS ARE SELECTED BASED ON THEIR VALUES, PHILANTHROPIC AND EDUCATIONAL GOALS, AND THEIR INVOLVEMENT IN THE PAY PROGRAM WHILE IN HIGH SCHOOL. THE ORIGINAL SCHOLARSHIP GUIDELINES AND APPLICATION WAS SENT TO THE IRS AND APPROVED ON FEBRUARY 11, 2016. THE PROGRAM MEETS IRS REQUIREMENTS. IN 2022, SCHOLARSHIPS TOTALING $264,450 WERE AWARDED.
THE PAY FORWARD PROGRAM IS AN OPPORTUNITY FOR GRADUATED HIGH SCHOOL STUDENTS TO CONTINUE ENGAGEMENT WITH THE PHILANTHROPY AND YOUTH (PAY) PROGRAM, PARTICIPATE IN OTHER PHILANTHROPIC ENDEAVORS, AND POTENTIALLY RECEIVE EXPANDED SCHOLARSHIP OPPORTUNITIES. IN 2022, PAY FORWARD GRANTS AND SCHOLARSHIPS TOTALING $33,650 WERE AWARDED.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
B John Barry Chairman Emeritus | 5 | $0 | |
Thomas J Barry Chair & Director | 5 | $0 | |
Michael B Barry Vice Chair & Director | 10 | $0 | |
Pamela J Borgerding Vice Chair & Director (thru June) | 5 | $0 | |
Dean C Hoffrogge Treasurer | 5 | $0 | |
Dana R Johnson Director | 15 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $0 |
| Interest on Savings | $0 |
| Dividends & Interest | $1,481,062 |
| Net Rental Income | $0 |
| Net Gain on Sale of Assets | $2,285,940 |
| Capital Gain Net Income | $2,285,940 |
| Net ST Capital Gain | $0 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $0 |
| Other Income | $0 |
| Total Revenue | $3,767,002 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $246,000 |
| Other employee salaries and wages | $173,328 |
| Pension plans, employee benefits | $22,649 |
| Interest | $0 |
| Taxes | $81,072 |
| Depreciation | $3,541 |
| Occupancy | $54,669 |
| Travel, conferences, and meetings | $11,211 |
| Printing and publications | $4,512 |
| Other expenses | $82,609 |
| Total operating and administrative expenses | $926,914 |
| Contributions, gifts, grants paid | $1,482,200 |
| Total expenses and disbursements | $2,409,114 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $362,056 |
| 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 | $10,756 |
| Net Investments - land, buildings, equipment | $0 |
| Investments—mortgage loans | $0 |
| Investments—other | $8,883,831 |
| Net Land, buildings, and equipment | $3,298 |
| Other assets | $1,001,815 |
| Total assets | $54,820,620 |
| Accounts payable and accrued expenses | $47,703 |
| 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 | $10,033 |
| Total liabilities | $57,736 |
Grants Awarded
Over the last fiscal year, The Barry Foundation has awarded $1,598,300 in support to 316 organizations.
| Grant Recipient | Amount |
|---|---|
IMPACT FOUNDATION PURPOSE: ARTS: FOLKWAYS PROGRAM SUPPORT | $10,000 |
PERHAM CENTER FOR THE ARTS PURPOSE: ARTS: CAPITAL CAMPAIGN | $20,000 |
ANN BANCROFT FOUNDATION PURPOSE: EDUCATION: ANNUAL EVENT SUPPORT | $5,000 |
ANN BANCROFT FOUNDATION PURPOSE: EDUCATION: SUSTAINABILITY GRANT | $10,000 |
BOYS AND GIRLS CLUB OF DETROIT LAKES INC PURPOSE: EDUCATION: PLAYGROUND PROJECT | $60,000 |
CONCORDIA COLLEGE PURPOSE: EDUCATION: RENE CLAUSEN CHORAL LEGACY ENDOWMENT FUND | $10,000 |