Redwood Area Education Foundation
- Assets
- $4.1m
- Revenue
- $144.9k
- Investments
- $0.0
- Employees
- 0
- Location
- Redwood Falls, MN
- Founding
- 12/1992
- Data as of
- 12/2021
- EIN
- 36-3834251
Organization Overview
Redwood Area Education Foundation is located in Redwood Falls, MN. The organization was established in 1992. According to its NTEE Classification (B82) the organization is classified as: Scholarships & Student Financial Aid, under the broad grouping of Education and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Redwood Area Education 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, Redwood Area Education Foundation generated $144.9k in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 2.9% each year. All expenses for the organization totaled $165.2k during the year ending 12/2021. 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
2021
Describe the Organization's Mission:
Part 3 - Line 1
TO ADVANCE, SUPPORT, PROMOTE, AND ADMINISTER EDUCATIONAL CAUSES AND PROJECTS FOR THE BENEFIT OF ISD 2897 AND ITS APPROXIMATELY 1000 STUDENTS
Describe the Organization's Program Activity:
Part 3 - Line 4a
DISTRIBUTED EARNINGS FROM ENDOWMENT FUNDS TO ENHANCE ISD 2897 PROGRAMS AND FACILITIES DURING THE YEAR FUNDS WERE DISTRIBUTED FOR THE FOLLOWING CLASSROOM AND INSTRUCTIONAL MATERIALS AND EDUCATION PROGRAMS 54,431, AND FACILITIES IMPROVEMENTS OF 12,543.
74,826 FOR SCHOALARS ENDOWMENT FUNDS AND CONTRIBUTIONS EARMARKED FOR SCHOLARSHIPS WERE DISTRIBUTED TO 58 STUDENTS ATTENDING POST-SECONDARY SCHOOLS
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Matt Lundeen Vice Preside | OfficerTrustee | 1 | $0 |
Allen Kokesch President | OfficerTrustee | 1 | $0 |
Rachael Buyck Interim Exec | Officer | 40 | $0 |
Tami Riley Executive Di | Officer | 20 | $0 |
Eric Anderson Director | Trustee | 1 | $0 |
Kate Foy Director | Trustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $127,697 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $127,697 |
| Total Program Service Revenue | $0 |
| Investment income | $12,325 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $4,897 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $144,919 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $66,974 |
| Grants and other assistance to domestic individuals. | $74,826 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $0 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $0 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $7,502 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $46 |
| Advertising and promotion | $0 |
| Office expenses | $5,266 |
| Information technology | $352 |
| Royalties | $0 |
| Occupancy | $0 |
| 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 | $0 |
| All other expenses | $0 |
| Total functional expenses | $165,232 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $502,164 |
| 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 | $0 |
| Net Land, buildings, and equipment | $0 |
| Investments—publicly traded securities | $3,550,205 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $4,052,369 |
| Accounts payable and accrued expenses | $3,010 |
| Grants payable | $0 |
| 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 | $3,010 |
| Net assets without donor restrictions | -$11,185 |
| Net assets with donor restrictions | $4,060,544 |
| 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 | $4,052,369 |
Grants Recieved
Over the last fiscal year, we have identified 2 grants that Redwood Area Education Foundation has recieved totaling $376.
| Awarding Organization | Amount |
|---|---|
Land O L Foundation St Paul, MN PURPOSE: MEMBER CO-OP MATCHES | $250 |
Amazonsmile Foundation Seattle, WA PURPOSE: GENERAL SUPPORT | $126 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Iowa Student Loan Liquidity Corp West Des Moines, IA | $1,230,053,718 | $45,688,659 |
Northstar Education Finance Inc Eagan, MN | $1,293,468,719 | $40,177,777 |
Northwestern Mutual Life Foundation Inc Milwaukee, WI | $106,326,341 | $38,353,841 |
Scholarship America Inc Minneapolis, MN | $219,130,905 | $29,933,482 |
Des Moines Golf And Country Club West Des Moines, IA | $24,329,403 | $13,657,003 |
Waitt Foundation North Sioux City, SD | $157,175,219 | $6,009,824 |
Team Makers Club Inc Fargo, ND | $24,927,572 | $16,460,437 |
Bentson Foundation Wayzata, MN | $107,689,978 | $6,021,397 |
Rsm Us Foundation Davenport, IA | $13,920,904 | $7,669,329 |
Pleasant T Rowland Foundation Brookfield, WI | $94,312,384 | $11,804,849 |
Central States Fair Rapid City, SD | $6,354,015 | $4,358,357 |
Sc Johnson Giving Inc Racine, WI | $34,098,989 | $19,343,102 |