Edina Abc Foundation
- Assets
- $289.0k
- Revenue
- $141.9k
- Investments
- $0.0
- Employees
- 4
- Location
- Edina, MN
- Founding
- 12/1971
- Data as of
- 06/2023
- EIN
- 23-7151499
Organization Overview
Edina Abc Foundation is located in Edina, MN. The organization was established in 1971. 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. As of 06/2023, Edina Abc Foundation employed 4 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Edina Abc 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 06/2023, Edina Abc Foundation generated $141.9k in total revenue. The organization has seen a slow decline revenue. Over the past 8 years, revenues have fallen by an average of (2.2%) each year. All expenses for the organization totaled $175.5k during the year ending 06/2023. 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
2023
Describe the Organization's Mission:
Part 3 - Line 1
EDINA ABC IS DEDICATED TO PROVIDING STRONG EDUCATIONAL OPPORTUNITIES TO STUDENTS OF COLOR. THEIR MISSION IS TO INCREASE SUBSTANITALLY THE NUMBER OF WELL-EDUCATED YOUNG PEOPLE OF COLOR WHO ARE CAPABLE OF ASSUMING POSITIONS OF RESPONSIBLITY AND LEADERSHIP IN AMERICAN SOCIETY.
Describe the Organization's Program Activity:
Part 3 - Line 4a
OPERATE A HOME FOR ABC STUDENTS WHO ATTEND EDINA HIGH SCHOOL. SERVICES INCLUDE ALL ROOM, BOARD, TRANSPORTATION, AND OTHER MISCELLANEOUS EDUCATIONAL AND LIVING EXPENSES.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Ann Harens Board Member | Trustee | 1 | $0 |
Sarah Kumagai Board Member | Trustee | 1 | $0 |
Elizabeth Nelson President | OfficerTrustee | 2 | $0 |
Brandon Mccray-Reeves Past President | Trustee | 2 | $0 |
Jeremiah Tom Steele Board Member | Trustee | 1 | $0 |
Morcine Scott-Warren Board Member | Trustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $27,180 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $85,309 |
| Noncash contributions included in lines 1a–1f | $295 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $112,489 |
| Total Program Service Revenue | $0 |
| Investment income | $24 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | $29,382 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $141,895 |
| 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. | $55,559 |
| Compensation of current officers, directors, key employees. | $11,112 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $20,000 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $6,579 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $2,828 |
| Fees for services: Accounting | $7,356 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $2,247 |
| Office expenses | $344 |
| Information technology | $0 |
| 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 | $10,844 |
| Insurance | $10,061 |
| All other expenses | $15,277 |
| Total functional expenses | $175,483 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $105,540 |
| Savings and temporary cash investments | $1,741 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $0 |
| 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 | $3,463 |
| Net Land, buildings, and equipment | $178,226 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $288,970 |
| Accounts payable and accrued expenses | $833 |
| 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 | $2,424 |
| Total liabilities | $3,257 |
| Net assets without donor restrictions | $285,713 |
| 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 | $288,970 |