Frechette Family Foundation
- Assets
- $166.1m
- Revenue
- $9.3m
- Investments
- $157.8m
- Employees
- 0
- Location
- Minneapolis, MN
- Founding
- 06/1997
- Data as of
- 12/2022
- 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 12/2022, Frechette Family Foundation generated $9.3m 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 (40.9%) each year. All expenses for the organization totaled $10.3m during the year ending 12/2022. You can explore the organizations financials more deeply in the financial statements section below.
Since 2020, Frechette Family Foundation has awarded 91 individual grants totaling $18,731,773. 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 |
|---|---|---|---|
Barbara N Hoffman Executive Director | 40 | $21,154 | |
Kerrie Blevins Executive Director | 40 | $105,000 | |
Kathleen F Tenhula President | 2 | $0 | |
Kristen F Woolfolk Vice President | 2 | $0 | |
Peter A Tenhula Secretary | 1 | $0 | |
William J Woolfolk Treasurer | 2 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
The Northern Trust Company | 12/30/22 | $637,144 |
Kerrie Blevins Consulting Inc | 12/30/22 | $201,582 |
Phillips Oppenheim Group Inc | 12/30/22 | $78,107 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $0 |
| Interest on Savings | $0 |
| Dividends & Interest | $5,421,749 |
| Net Rental Income | $0 |
| Net Gain on Sale of Assets | $3,897,037 |
| Capital Gain Net Income | $3,941,851 |
| Net ST Capital Gain | $0 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $0 |
| Other Income | $0 |
| Total Revenue | $9,318,786 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $126,154 |
| Other employee salaries and wages | $0 |
| Pension plans, employee benefits | $2,117 |
| Interest | $0 |
| Taxes | $133,743 |
| Depreciation | $0 |
| Occupancy | $0 |
| Travel, conferences, and meetings | $40,390 |
| Printing and publications | $417 |
| Other expenses | $15,733 |
| Total operating and administrative expenses | $1,290,069 |
| Contributions, gifts, grants paid | $8,971,533 |
| Total expenses and disbursements | $10,261,602 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $222,903 |
| Savings and temporary cash investments | $8,118,431 |
| 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 | $17,752,005 |
| Net Land, buildings, and equipment | $0 |
| Other assets | $0 |
| Total assets | $166,118,560 |
| Accounts payable and accrued expenses | $5,648 |
| 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 | $5,648 |
Grants Awarded
Over the last fiscal year, Frechette Family Foundation has awarded $8,971,533 in support to 78 organizations.
| Grant Recipient | Amount |
|---|---|
BETTY FORD ALPINE GARDENS PURPOSE: GENERAL OPERATIONS | $50,000 |
EAGLE COUNTY DEPARTMENT OF HUMAN SERVICES PURPOSE: EAGLE COUNTY CHILD CARE CENTERS RENTAL ASSISTANCE PROGRAM | $516,033 |
COPAL PURPOSE: APPRECIATION GRANT - CAROLYN FOUNDATION SPEAKER | $500 |
EAGLE VALLEY COMMUNITY FOUNDATION PURPOSE: EAGLE RIVER VALLEY FOOD BANK | $100,000 |
LOVE MENTORS PURPOSE: GENERAL OPERATING SUPPORT, IN MEMORY OF NANCY REYNOLDS BOYD | $2,500 |
GREENHOUSE SCHOLARS PURPOSE: TWO SCHOLARS AT 10K EACH | $20,000 |