Mount Olive Lutheran Church Foundation
- Assets
- $2.1m
- Revenue
- $164.1k
- Investments
- $0.0
- Employees
- 0
- Location
- Minneapolis, MN
- Founding
- 08/1972
- Data as of
- 12/2021
- EIN
- 23-7179228
Organization Overview
Mount Olive Lutheran Church Foundation is located in Minneapolis, MN. The organization was established in 1972. According to its NTEE Classification (X11) the organization is classified as: Single Organization Support, under the broad grouping of Religion-Related and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Mount Olive Lutheran Church 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, Mount Olive Lutheran Church Foundation generated $164.1k in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 3.0% each year. All expenses for the organization totaled $55.9k during the year ending 12/2021. While expenses have increased by 4.2% per year over the past 7 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.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2021
Describe the Organization's Mission:
Part 3 - Line 1
TO SUPPORT MOUNT OLIVE LUTHERAN CHURCH.
Describe the Organization's Program Activity:
Part 3 - Line 4a
A GRANT TO MOUNT OLIVE LUTHERAN CHURCH.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Kathryn Campbell-Johnson President | OfficerTrustee | 1 | $0 |
Paul Sundquist Treasurer | OfficerTrustee | 1 | $0 |
Sue Browender Secretary | OfficerTrustee | 1 | $0 |
Grace Wiechman Vice President | OfficerTrustee | 1 | $0 |
Kathy Thurston Director | Trustee | 1 | $0 |
George Ferguson Director | Trustee | 1 | $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 | $103,161 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $103,161 |
| Total Program Service Revenue | $0 |
| Investment income | $60,925 |
| 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 | $164,086 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $55,300 |
| 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 | $0 |
| 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 | $0 |
| 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 | $0 |
| Insurance | $0 |
| All other expenses | $624 |
| Total functional expenses | $55,924 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $62,930 |
| Savings and temporary cash investments | $100,000 |
| 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 | $50,740 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $0 |
| Net Land, buildings, and equipment | $0 |
| Investments—publicly traded securities | $1,846,072 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $2,059,742 |
| 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 | $0 |
| Total liabilities | $0 |
| Net assets without donor restrictions | $1,805,236 |
| Net assets with donor restrictions | $254,506 |
| 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 | $2,059,742 |
Grants Recieved
Over the last fiscal year, we have identified 2 grants that Mount Olive Lutheran Church Foundation has recieved totaling $34,400.
| Awarding Organization | Amount |
|---|---|
Thrivent Charitable Impact & Investing Appleton, WI PURPOSE: GENERAL SUPPORT 2020 | $30,500 |
Margaret A Cargill Foundation Eden Prairie, MN PURPOSE: EMPLOYEE MATCHING GRANT | $3,900 |
Endowment Analysis
| Beg. Balance | $186,656 |
| Earnings | $18,356 |
| Net Contributions | $58,919 |
| Other Expense | $165 |
| Grants | $9,260 |
| Ending Balance | $254,506 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Catholic Foundation For The Archdiocese Of Dubuque Cedar Rapids, IA | $127,453,113 | $10,700,862 |
St Joseph Real Estate Services Corporation Green Bay, WI | $9,099,106 | $3,700,773 |
Know The Truth Ministries Inc Chanhassen, MN | $269,842 | $2,371,086 |
City On A Hill Inc Milwaukee, WI | $1,825,972 | $1,822,673 |
Olive Tree Ministries Maple Grove, MN | $7,814,889 | $4,185,907 |
Herzl Camp Foundation St Louis Park, MN | $6,175,107 | $1,858,323 |
Temple Israel Foundation Minneapolis, MN | $14,124,521 | $641,745 |
Minnesota Catholic Conference Saint Paul, MN | $392,885 | $767,491 |
St Pauls United Methodist Church Of Cedar Rapids Foundation Cedar Rapids, IA | $7,255,081 | $1,159,292 |
Brahmananda Saraswati Jyotish Foundation Fairfield, IA | $78,051 | $657,695 |
Ong First Friends Church Trust 1695800 Milwaukee, WI | $5,413,078 | $1,006,602 |
Dorothy Day Capital Corporation S Paul, MN | $38,103,044 | $13,121,009 |