Ordean Foundation
- Assets
- $45.5m
- Revenue
- $5.2m
- Investments
- $40.0m
- Employees
- 0
- Location
- Duluth, MN
- Founding
- 10/1934
- Data as of
- 12/2021
- EIN
- 41-0711611
Organization Overview
Ordean Foundation is located in Duluth, MN. The organization was established in 1934. 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. Ordean 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, Ordean Foundation generated $5.2m in total revenue. This organization has experienced exceptional growth, as over the past 4 years, it has increased revenue by an average of 46.7% each year . All expenses for the organization totaled $2.1m during the year ending 12/2021. You can explore the organizations financials more deeply in the financial statements section below.
Since 2020, Ordean Foundation has awarded 108 individual grants totaling $4,583,550. 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 |
|---|---|---|---|
Don Ness Executive Director | 40 | $169,300 | |
Jon Nelson Vice President And Director | 1 | $0 | |
Chuck Walt President And Director | 1 | $0 | |
Traci Morris Treasurer And Director | 1 | $0 | |
Marsha Hystead Director | 1 | $0 | |
Marcus Jones Secretary And Director | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $100 |
| Interest on Savings | $0 |
| Dividends & Interest | $1,813,639 |
| Net Rental Income | $0 |
| Net Gain on Sale of Assets | $3,424,078 |
| Capital Gain Net Income | $3,424,442 |
| Net ST Capital Gain | $0 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $0 |
| Other Income | $5,157 |
| Total Revenue | $5,242,974 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $169,300 |
| Other employee salaries and wages | $101,354 |
| Pension plans, employee benefits | $83,263 |
| Interest | $0 |
| Taxes | $90,865 |
| Depreciation | $2,333 |
| Occupancy | $16,752 |
| Travel, conferences, and meetings | $1,263 |
| Printing and publications | $131 |
| Other expenses | $61,145 |
| Total operating and administrative expenses | $641,726 |
| Contributions, gifts, grants paid | $1,446,050 |
| Total expenses and disbursements | $2,087,776 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $94,155 |
| Savings and temporary cash investments | $4,340,553 |
| Net Accounts receivable | $15,538 |
| Net Pledges Receivable | $0 |
| Grants receivable | $0 |
| Receivables from Officers, Directors, or Controlling Persons | $0 |
| Net other notes and loans receivable | $960,000 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $23,373 |
| Net Investments - land, buildings, equipment | $594 |
| Investments—mortgage loans | $0 |
| Investments—other | $4,608,693 |
| Net Land, buildings, and equipment | $4,921 |
| Other assets | $116,887 |
| Total assets | $45,509,190 |
| Accounts payable and accrued expenses | $47,459 |
| Grants payable | $2,500 |
| Deferred revenue | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Mortgages and other notes payable | $0 |
| Other liabilities | $198,700 |
| Total liabilities | $248,659 |
Grants Awarded
Over the last fiscal year, Ordean Foundation has awarded $1,446,050 in support to 42 organizations.
| Grant Recipient | Amount |
|---|---|
Duluth, MN PURPOSE: GENERAL OPERATING SUPPORT AND SHELTER RENOVATION | $130,000 |
Duluth, MN PURPOSE: GENERAL OPERATING SUPPORT | $125,000 |
DAMIANO CENTER PURPOSE: GENERAL OPERATING SUPPORT | $125,000 |
LIFE HOUSE INC PURPOSE: GENERAL OPERATING SUPPORT | $121,000 |
Duluth, MN PURPOSE: GENERAL OPERATING SUPPORT | $110,000 |
SALVATION ARMY PURPOSE: SHARING FUND & SPECIAL NEEDS FUND | $75,000 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Charles K Blandin Foundation Grand Rapids, MN | $0 | $24,073,238 |
Reiman Foundation Inc Pewaukee, WI | $64,480,239 | $12,529,672 |
American Family Insurance Dreams Foundation Inc Madison, WI | $10,733,127 | $6,580,229 |
Joseph And Vera Zilber Charitable Foundation Inc Milwaukee, WI | $301,880,639 | $24,555,392 |
Argosy Foundation Milwaukee, WI | $36,932,110 | $41,277,914 |
Cargill Foundation Minneapolis, MN | $286,172,868 | $105,535,102 |
Schoeneckers Foundation Minneapolis, MN | $145,295,949 | $7,540,866 |
The Curtis L Carlson Family Foundation Minnetonka, MN | $300,826,673 | $21,132,663 |
Principal Financial Group Foundation Inc Des Moines, IA | $217,742,870 | $19,396,180 |
Herbert H Kohl Charities Inc Milwaukee, WI | $19,332,679 | $4,430,173 |
Andreas Foundation Mankato, MN | $70,794,995 | $28,410,107 |
Frechette Family Foundation Minneapolis, MN | $167,055,978 | $9,430,765 |