Peter J King Family Foundation
- Assets
- $65.4m
- Revenue
- $2.4m
- Investments
- $64.3m
- Employees
- 0
- Location
- Golden Valley, MN
- Founding
- 02/2008
- Data as of
- 12/2022
- EIN
- 26-1600569
Organization Overview
Peter J King Family Foundation is located in Golden Valley, MN. The organization was established in 2008. 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. Peter J King Family 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 12/2022, Peter J King Family Foundation generated $2.4m in total revenue. This represents a relatively dramatic decline in revenue. Over the past 4 years, the organization has seen revenues fall by an average of (15.2%) each year. All expenses for the organization totaled $4.9m during the year ending 12/2022. You can explore the organizations financials more deeply in the financial statements section below.
Since 2020, Peter J King Family Foundation has awarded 79 individual grants totaling $10,136,603. 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 |
|---|---|---|---|
Russell S King President | 6 | $0 | |
Stephen D Higgins Secretary | 2 | $0 | |
James C Teal Director | 1 | $2,000 | |
James A Weichert Director | 1 | $2,000 | |
Eric L Fotsch Director | 1 | $2,000 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
King Capital Corp | 12/30/21 | $1,372,177 |
Copeland Buhl & Co | 12/30/21 | $44,287 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $0 |
| Interest on Savings | $0 |
| Dividends & Interest | $1,860,679 |
| Net Rental Income | $0 |
| Net Gain on Sale of Assets | -$381,962 |
| Capital Gain Net Income | $0 |
| Net ST Capital Gain | $0 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $0 |
| Other Income | $936,713 |
| Total Revenue | $2,415,430 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $6,000 |
| Other employee salaries and wages | $0 |
| Pension plans, employee benefits | $0 |
| Interest | $0 |
| Taxes | $162,716 |
| Depreciation | $0 |
| Occupancy | $0 |
| Travel, conferences, and meetings | $0 |
| Printing and publications | $0 |
| Other expenses | $997,900 |
| Total operating and administrative expenses | $2,734,148 |
| Contributions, gifts, grants paid | $2,172,992 |
| Total expenses and disbursements | $4,907,140 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $1,160,217 |
| 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 | $43,170,737 |
| Net Land, buildings, and equipment | $0 |
| Other assets | $0 |
| Total assets | $65,434,401 |
| 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, Peter J King Family Foundation has awarded $2,172,992 in support to 22 organizations.
| Grant Recipient | Amount |
|---|---|
180 DEGRESS INC PURPOSE: GENERAL PURPOSE | $231,571 |
GLOBAL VOLUNTEERS PURPOSE: GENERAL PURPOSE | $35,421 |
CHRISTIAN CROSS MINISTRIES PURPOSE: GENERAL PURPOSE | $10,000 |
MOBILE HOPE PURPOSE: GENERAL PURPOSE | $7,000 |
NORTHEAST YOUTH AND FAMILY SERVICE PURPOSE: GENERAL PURPOSE | $2,000 |
PROJECT SUCCESS PURPOSE: GENERAL PURPOSE | $520,000 |