Raft Charitable Foundation
- Assets
- $21.7m
- Revenue
- $1.3m
- Investments
- $20.5m
- Employees
- 0
- Location
- Sioux Falls, SD
- Founding
- 03/2009
- Data as of
- 12/2022
- EIN
- 37-6439235
Organization Overview
Raft Charitable Foundation is located in Sioux Falls, SD. The organization was established in 2009. 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. Raft Charitable 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, Raft Charitable Foundation generated $1.3m in total revenue. This represents a relatively dramatic decline in revenue. Over the past 8 years, the organization has seen revenues fall by an average of (4.0%) each year. All expenses for the organization totaled $1.8m during the year ending 12/2022. You can explore the organizations financials more deeply in the financial statements section below.
Since 2015, Raft Charitable Foundation has awarded 238 individual grants totaling $12,403,500. 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 |
|---|---|---|---|
Dorsey Whitney Trust Company Llc Trustee | 3 | $168,618 | |
Faye L Youngren Trustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $0 |
| Interest on Savings | $0 |
| Dividends & Interest | $637,991 |
| Net Rental Income | $0 |
| Net Gain on Sale of Assets | $683,502 |
| Capital Gain Net Income | $683,502 |
| Net ST Capital Gain | $0 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $0 |
| Other Income | $0 |
| Total Revenue | $1,321,493 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $168,618 |
| Other employee salaries and wages | $0 |
| Pension plans, employee benefits | $0 |
| Interest | $0 |
| Taxes | $22,559 |
| Depreciation | $0 |
| Occupancy | $0 |
| Travel, conferences, and meetings | $0 |
| Printing and publications | $0 |
| Other expenses | $25 |
| Total operating and administrative expenses | $191,463 |
| Contributions, gifts, grants paid | $1,585,000 |
| Total expenses and disbursements | $1,776,463 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $1,142,276 |
| 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 | $11,201,743 |
| Net Land, buildings, and equipment | $0 |
| Other assets | $0 |
| Total assets | $21,662,815 |
| 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, Raft Charitable Foundation has awarded $1,585,000 in support to 30 organizations.
| Grant Recipient | Amount |
|---|---|
LAKE SUPERIOR YOUTH CHORUS PURPOSE: GENERAL OPERATING FUND | $10,000 |
PARABLE FUND PURPOSE: GENERAL OPERATING | $20,000 |
WASHINGTON COUNTY LIBRARY PARTNERS PURPOSE: GENERAL OPERATING | $30,000 |
HEIFER PROJECT INTERNATIONAL INC PURPOSE: GENERAL OPERATING | $20,000 |
ALLINA HEALTH FOUNDATION PURPOSE: GENERAL OPERATING FUND | $30,000 |
FIRST UNITED METHODIST CHURCH OF DULUTH PURPOSE: GENERAL OPERATING, | $45,000 |