Ivan Bowen Family Foundation
- Assets
- $14.8m
- Revenue
- $837.1k
- Investments
- $14.6m
- Employees
- 0
- Location
- Benson, MN
- Founding
- 06/2002
- Data as of
- 12/2023
- EIN
- 36-4465774
Organization Overview
Ivan Bowen Family Foundation is located in Benson, MN. The organization was established in 2002. 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. Ivan Bowen 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 12/2023, Ivan Bowen Family Foundation generated $837.1k in total revenue. This represents a relatively dramatic decline in revenue. Over the past 9 years, the organization has seen revenues fall by an average of (4.4%) each year. All expenses for the organization totaled $1.4m during the year ending 12/2023. You can explore the organizations financials more deeply in the financial statements section below.
Since 2015, Ivan Bowen Family Foundation has awarded 117 individual grants totaling $10,514,836. 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 |
|---|---|---|---|
Hazel Bowen President | 0 | $75,000 | |
William J Luzum Treasurer | 0 | $17,500 | |
Ivan Bowen III Director | 0 | $0 | |
Robert E Bowen Director | 0 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $0 |
| Interest on Savings | $44,307 |
| Dividends & Interest | $369,318 |
| Net Rental Income | $0 |
| Net Gain on Sale of Assets | $423,432 |
| Capital Gain Net Income | $423,432 |
| Net ST Capital Gain | $0 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $0 |
| Other Income | $0 |
| Total Revenue | $837,057 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $92,500 |
| Other employee salaries and wages | $0 |
| Pension plans, employee benefits | $0 |
| Interest | $0 |
| Taxes | $3,464 |
| Depreciation | $0 |
| Occupancy | $0 |
| Travel, conferences, and meetings | $7,174 |
| Printing and publications | $0 |
| Other expenses | $0 |
| Total operating and administrative expenses | $255,463 |
| Contributions, gifts, grants paid | $1,178,000 |
| Total expenses and disbursements | $1,433,463 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $166,078 |
| 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 | $0 |
| Net Land, buildings, and equipment | $0 |
| Other assets | $0 |
| Total assets | $14,756,907 |
| 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, Ivan Bowen Family Foundation has awarded $1,178,000 in support to 11 organizations.
| Grant Recipient | Amount |
|---|---|
MAYO CLINIC FOUNDATION PURPOSE: UNRESTRICTED USE | $295,000 |
MINNEAPOLIS HEART INSTITUTE PURPOSE: UNRESTRICTED USE | $119,000 |
BRIGHT FOCUS FOUNDATION PURPOSE: UNRESTRICTED USE | $100,000 |
CYSTIC FIBROSIS FOUNDATION PURPOSE: UNRESTRICTED USE | $125,000 |
CONSERVANCY OF SW FLORIDA PURPOSE: UNRESTRICTED USE | $135,000 |
AVOW (NAPLES HOSPICE) PURPOSE: UNRESTRICTED USE | $175,000 |