Mahtomedi Area Educational Foundation
- Assets
- $2.0m
- Revenue
- $602.4k
- Investments
- $0.0
- Employees
- 4
- Location
- Mahtomedi, MN
- Founding
- 09/1990
- Data as of
- 06/2023
- EIN
- 36-1276034
Organization Overview
Mahtomedi Area Educational Foundation is located in Mahtomedi, MN. The organization was established in 1990. According to its NTEE Classification (B11) the organization is classified as: Single Organization Support, under the broad grouping of Education and related organizations. As of 06/2023, Mahtomedi Area Educational Foundation employed 4 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Mahtomedi Area Educational 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 06/2023, Mahtomedi Area Educational Foundation generated $602.4k in total revenue. This represents relatively stable growth, over the past 8 years the organization has increased revenue by an average of 5.1% each year. All expenses for the organization totaled $382.9k during the year ending 06/2023. While expenses have increased by 2.9% per year over the past 8 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
2023
Describe the Organization's Mission:
Part 3 - Line 1
MAEF SUPPORTS AND ENHANCES MAHTOMEDI PUBLIC SCHOOLS TO ENGAGE, CHALLENGE AND INSPIRE ALL STUDENTS FROM BIRTH TO GRADUATION (E-12).
Describe the Organization's Program Activity:
Part 3 - Line 4a
A TOTAL OF $244,235 WAS AWARDED IN GRANTS. OUR GRANTS COMMITTEE AWARDED A TOTAL OF $65,318 TO TEACHERS/STUDENTS/STAFF FOR INNOVATIVE CURRICULUM TOOLS AND CONTINUING EDUCATION. $2,382 WAS AWARDED IN SUPPORT OF MENTAL WELLNESS PROGRAMS. $8,000 WAS AWARDED TO SUPPORT MUSIC EDUCATION IN THE SCHOOLS. $3,198 WAS AWARDED FOR ENGINEERING EQUIPMENT IN THE FABLAB. $71,390 WAS AWARDED TO DISTRICT ISD 832 TO SUPPORT LITERACY LIBRARIES FOR STUDENTS. $53,100 WAS AWARDED TO 31 STUDENTS TO ASSIST IN THEIR POST-SECONDARY PURSUITS. $780 WAS AWARDED TO 2 STUDENTS FOR SUMMER ART PROGRAMS. THE FOUNDATION AWARDED $10,211 TO SUPPORT STUDENT AND TEACHER COMMUNITY-BUILDING PROGRAMS. $29,856 WAS AWARDED IN SUPPORT OF BASIC AND EMERGENCY NEEDS OF STUDENTS AND FAMILIES WITHIN THE SCHOOL DISTRICT. THESE FUNDS WERE USED FOR THINGS SUCH AS FOOD AND GAS GIFT CARDS, HYGIENE AND CLEANING SUPPLIES, EYE CARE, HATS, MITTENS, SHOES, CLOTHING, CLASS FEES, AND SUMMER ENRICHMENT.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
James Hansen President | OfficerTrustee | 2 | $0 |
Phil Bruner Interim President Thru 1/23/2023 | OfficerTrustee | 2 | $0 |
Barbara White Vice President | OfficerTrustee | 2 | $0 |
Ben Tierney Secretary | OfficerTrustee | 2 | $0 |
Kate Bloomberg Trustee | Trustee | 2 | $0 |
Mithra Ramaley Trustee | Trustee | 2 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $128,249 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $244,371 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $372,620 |
| Total Program Service Revenue | $0 |
| Investment income | $58,342 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $121,854 |
| Net Income from Fundraising Events | $46,759 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $602,372 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $173,437 |
| Grants and other assistance to domestic individuals. | $70,798 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $42,419 |
| Compensation of current officers, directors, key employees. | $6,363 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $48,108 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $6,925 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $1,508 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $12,420 |
| Advertising and promotion | $4,870 |
| Office expenses | $11,481 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $2,500 |
| 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 | $2,627 |
| All other expenses | $0 |
| Total functional expenses | $382,855 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $64,354 |
| Savings and temporary cash investments | $137,186 |
| 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 | $0 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $4,813 |
| Net Land, buildings, and equipment | $0 |
| Investments—publicly traded securities | $1,839,736 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $2,046,089 |
| Accounts payable and accrued expenses | $14,751 |
| Grants payable | $44,100 |
| 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 | $58,851 |
| Net assets without donor restrictions | $196,320 |
| Net assets with donor restrictions | $1,790,918 |
| 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 | $2,046,089 |
Grants Awarded
Over the last fiscal year, Mahtomedi Area Educational Foundation has awarded $61,811 in support to 2 organizations.
| Grant Recipient | Amount |
|---|---|
MAHTOMEDI PUBLIC SCHOOLS PURPOSE: SEE PART IV | $56,311 |
MAHTOMEDI FOOD SHELF PURPOSE: FOOD SHELF | $5,500 |