Culvers Vip Foundation Inc
- Assets
- $6.5m
- Revenue
- $1.6m
- Investments
- $2.6m
- Employees
- 0
- Location
- Prairie Du Sac, WI
- Founding
- 02/2002
- Data as of
- 12/2022
- EIN
- 39-2042139
Organization Overview
Culvers Vip Foundation Inc is located in Prairie Du Sac, WI. The organization was established in 2002. 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. Culvers Vip Foundation Inc 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, Culvers Vip Foundation Inc generated $1.6m in total revenue. This represents relatively stable growth, over the past 4 years the organization has increased revenue by an average of 5.6% each year. All expenses for the organization totaled $671.0k during the year ending 12/2022. You can explore the organizations financials more deeply in the financial statements section below.
Since 2019, Culvers Vip Foundation Inc has awarded 470 individual grants totaling $2,992,496. 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.
Form
990PF
Mission & Program ActivityExcerpts From the 990PF Filing
TAX YEAR
2022
Describe the Organization's Program Activity:
Part 3 - Line 4a
CULVER'S FOUNDATION'S SCHOLARSHIP PROGRAM HELPS TEAM MEMBERS REACH THEIR DREAMS. THE PROGRAM PROVIDES ASSISTANCE TO THOSE WANTING TO ACHIEVE THEIR GOAL OF EARNING A COLLEGE OR TECHNICAL DEGREE. SINCE THE PROGRAM BEGAN IN 1993, THE SCHOLARSHIP PROGRAM HAS PROVIDED OVER $6 MILLION IN SCHOLARSHIP TO OVER 4,000 TEAM MEMBERS. DURING 2022, THE FOUNDATION AWARDED SCHOLARSHIPS TO 78 TEAM MEMBERS.
THE GOALS OF CULVER'S FOUNDATION ARE TO ENSURE PEOPLE IN OUR COMMUNITIES HAVE ACCESS TO BASIC NEEDS, TO PROMOTE THE DEVELOPMENT OF OUR YOUTH AND THEIR FAMILIES AND TO GIVE LOCALLY IN COMMUNITIES, INCLUDING CULVER'S HOMETOWN OF SAUK CITY, WISCONSIN.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Leola Culver President & Director | 4 | $0 | |
Nettie Stenberg Vp, Secretary & Director | 15 | $0 | |
Steve Anderson Director | 0.25 | $0 | |
Julie Fussner Director | 0.25 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $1,498,457 |
| Interest on Savings | $19,894 |
| Dividends & Interest | $61,642 |
| Net Rental Income | $0 |
| Net Gain on Sale of Assets | $7,235 |
| Capital Gain Net Income | $7,235 |
| Net ST Capital Gain | $0 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $0 |
| Other Income | $0 |
| Total Revenue | $1,587,228 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $0 |
| Other employee salaries and wages | $0 |
| Pension plans, employee benefits | $0 |
| Interest | $0 |
| Taxes | $0 |
| Depreciation | $0 |
| Occupancy | $0 |
| Travel, conferences, and meetings | $0 |
| Printing and publications | $0 |
| Other expenses | $52,885 |
| Total operating and administrative expenses | $77,042 |
| Contributions, gifts, grants paid | $594,000 |
| Total expenses and disbursements | $671,042 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $255,308 |
| Savings and temporary cash investments | $3,530,524 |
| Net Accounts receivable | $0 |
| Net Pledges Receivable | $39,200 |
| 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 | $5,500 |
| Net Investments - land, buildings, equipment | $0 |
| Investments—mortgage loans | $0 |
| Investments—other | $0 |
| Net Land, buildings, and equipment | $0 |
| Other assets | $0 |
| Total assets | $6,454,827 |
| Accounts payable and accrued expenses | $0 |
| Grants payable | $33,500 |
| Deferred revenue | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Mortgages and other notes payable | $0 |
| Other liabilities | $28,561 |
| Total liabilities | $62,061 |
Grants Awarded
Over the last fiscal year, Culvers Vip Foundation Inc has awarded $618,000 in support to 76 organizations.
| Grant Recipient | Amount |
|---|---|
ALMA COLLEGE PURPOSE: SCHOLARSHIP(S) FOR RECIPIENT(S) PAID DIRECTLY TO SCHOOL | $5,000 |
AMERICAS CHARITIES PURPOSE: TO SUPPORT CULVER'S TEAM MEMBER DISASTER ASSISTANCE FUND | $50,000 |
APPALACHIAN STATE UNIVERSITY PURPOSE: SCHOLARSHIP(S) FOR RECIPIENT(S) PAID DIRECTLY TO SCHOOL | $5,000 |
AMERICAN RED CROSS PURPOSE: GENERAL SUPPORT | $10,000 |
ARIZONA STATE UNIVERSITY PURPOSE: SCHOLARSHIP(S) FOR RECIPIENT(S) PAID DIRECTLY TO SCHOOL | $5,000 |
CARLETON COLLEGE PURPOSE: SCHOLARSHIP(S) FOR RECIPIENT(S) PAID DIRECTLY TO SCHOOL | $5,000 |