Wendell Petersen Charitable Tr 09032019
- Assets
- $965.0k
- Revenue
- $18.2k
- Investments
- $965.0k
- Employees
- 0
- Location
- Bayport, MN
- Founding
- 01/2020
- Data as of
- 12/2023
- EIN
- 35-7251651
Organization Overview
Wendell Petersen Charitable Tr 09032019 is located in Bayport, MN. The organization was established in 2020. According to its NTEE Classification (T22) the organization is classified as: Private Independent 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. Wendell Petersen Charitable Tr 09032019 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 12/2023, Wendell Petersen Charitable Tr 09032019 generated $18.2k 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 (48.7%) each year. All expenses for the organization totaled $63.2k during the year ending 12/2023. You can explore the organizations financials more deeply in the financial statements section below.
Form
990PF
Mission & Program ActivityExcerpts From the 990PF Filing
TAX YEAR
2023
Describe the Organization's Program Activity:
Part 3 - Line 4a
HUDSON SCHOOL DISTRICT SCHOLARSHIPS
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Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $0 |
| Interest on Savings | $0 |
| Dividends & Interest | $41,029 |
| Net Rental Income | $0 |
| Net Gain on Sale of Assets | -$22,869 |
| Capital Gain Net Income | $0 |
| Net ST Capital Gain | $0 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $0 |
| Other Income | $0 |
| Total Revenue | $18,160 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $0 |
| Other employee salaries and wages | $0 |
| Pension plans, employee benefits | $0 |
| Interest | $0 |
| Taxes | $1,156 |
| Depreciation | $0 |
| Occupancy | $0 |
| Travel, conferences, and meetings | $0 |
| Printing and publications | $0 |
| Other expenses | $0 |
| Total operating and administrative expenses | $13,226 |
| Contributions, gifts, grants paid | $50,000 |
| Total expenses and disbursements | $63,226 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $0 |
| 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 | $965,025 |
| Net Land, buildings, and equipment | $0 |
| Other assets | $0 |
| Total assets | $965,025 |
| 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, Wendell Petersen Charitable Tr 09032019 has awarded $70,940 in support to 2 organizations.
| Grant Recipient | Amount |
|---|---|
HUDSON SCHOOL DISTRICT PURPOSE: SCHOLARSHIPS | $22,240 |
HUDSON AREA LIBRARY FOUNDATION PURPOSE: HUDSON AREA LIBRARY SUPPORT | $48,700 |