Frechette Family Foundation
- Assets
- $167.1m
- Revenue
- $9.4m
- Investments
- $165.6m
- Employees
- 0
- Location
- Minneapolis, MN
- Founding
- 06/1997
- Data as of
- 12/2021
- EIN
- 31-1530248
Organization Overview
Frechette Family Foundation is located in Minneapolis, MN. The organization was established in 1997. 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. Frechette 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 12/2021, Frechette Family Foundation generated $9.4m in total revenue. This represents a relatively dramatic decline in revenue. Over the past 5 years, the organization has seen revenues fall by an average of (13.8%) each year. All expenses for the organization totaled $11.5m during the year ending 12/2021. You can explore the organizations financials more deeply in the financial statements section below.
Since 2020, Frechette Family Foundation has awarded 19 individual grants totaling $14,235,240. 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 |
|---|---|---|---|
Kathleen F Tenhula President | 4 | $0 | |
Peter A Tenhula Secretary | 2 | $0 | |
William J Woolfolk Treasurer | 2 | $0 | |
Kristen F Woolfolk Vice President | 2 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
The Northern Trust Company | 12/30/21 | $708,062 |
Perell Group | 12/30/21 | $264,000 |
Kerrie Blevins Consulting | 12/30/21 | $148,775 |
Lansberg Gersick Associates | 12/30/21 | $65,000 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $354,501 |
| Interest on Savings | $0 |
| Dividends & Interest | $4,420,836 |
| Net Rental Income | $0 |
| Net Gain on Sale of Assets | $4,655,428 |
| Capital Gain Net Income | $4,655,428 |
| Net ST Capital Gain | $0 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $0 |
| Other Income | $0 |
| Total Revenue | $9,430,765 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $0 |
| Other employee salaries and wages | $0 |
| Pension plans, employee benefits | $0 |
| Interest | $0 |
| Taxes | $107,081 |
| Depreciation | $0 |
| Occupancy | $0 |
| Travel, conferences, and meetings | $52,594 |
| Printing and publications | $817 |
| Other expenses | $11,963 |
| Total operating and administrative expenses | $1,445,677 |
| Contributions, gifts, grants paid | $10,038,750 |
| Total expenses and disbursements | $11,484,427 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $178,930 |
| Savings and temporary cash investments | $1,298,281 |
| 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 | $17,127,475 |
| Net Land, buildings, and equipment | $0 |
| Other assets | $0 |
| Total assets | $167,055,978 |
| Accounts payable and accrued expenses | $250 |
| 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 | $250 |
Grants Awarded
Over the last fiscal year, Frechette Family Foundation has awarded $5,285,240 in support to 7 organizations.
| Grant Recipient | Amount |
|---|---|
ROUNDUP RIVER RANCH PURPOSE: THE RUTH B. JOHNSONEXC LEADERSHIP FUNDGENERAL OPERATIONS | $2,000,000 |
Milwaukee, WI PURPOSE: PERRY AND ALICIA O'BRIENFELLOWSHIP ENDOWMENT | $1,500,000 |
EAGLE COUNTY DPT OF HUMAN SERVICES PURPOSE: CHILD CARE RENTAL ASSISTANCE | $1,032,065 |
Avon, CO PURPOSE: GENERL OPERATIONS | $608,175 |
VAIL VETERANS PROGRAM PURPOSE: WINTER/SUMMER PROGRAMS | $100,000 |
Vail, CO PURPOSE: 50TH ANNIVERSARY MATCH | $25,000 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
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 |
Kiewit Companies Foundation Milwaukee, WI | $1,050,332 | $23,001,672 |
Target Foundation Minneapolis, MN | $85,335,634 | $55,020,175 |
Wem Foundation Minneapolis, MN | $121,487,044 | $26,370,141 |