Ridgeview Foundation
- Assets
- $25.2m
- Revenue
- $4.5m
- Investments
- $0.0
- Employees
- 0
- Location
- Waconia, MN
- Founding
- 06/1978
- Data as of
- 12/2021
- EIN
- 41-1328097
Organization Overview
Ridgeview Foundation is located in Waconia, MN. The organization was established in 1978. 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. Ridgeview 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, Ridgeview Foundation generated $4.5m in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 1.1% 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.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2021
Describe the Organization's Mission:
Part 3 - Line 1
TO MAKE A POSITIVE DIFFERENCE IN THE QUALITY OF LIFE AND HEALTH FOR THE PEOPLE OF OUR AREA.
Describe the Organization's Program Activity:
Part 3 - Line 4a
TO RAISE FUNDS EXCLUSIVELY FOR THE BENEFIT OF RIDGEVIEW MEDICAL CENTER, A NOT-FOR-PROFIT HOSPITAL IN WACONIA, MINNESOTA. DURING THE YEAR ENDED DECEMBER 31, 2021, RIDGEVIEW FOUNDATION EXPENSED A TOTAL OF $1,724,581 TO RIDGEVIEW MEDICAL CENTER. OF THIS, $988,638 WAS TRANSFERRED TO SUPPORT COVID RELATED ACTIVITIES, $310,000 WAS TRANSFERRED TO THE HOSPITAL TO SUPPORT THE BUILDING AND FURNISHING OF AN EMERGENCY DEPARTMENT EXPANSION, AND $240,000 WAS TRANSFERRED TO SUPPORT THE INNOVATION FOR GENERATIONS CAMPAIGN. THE REMAINING $185,943 WAS TRANSFERRED TO THE HOSPITAL WAS USED FOR VARIOUS PROJECTS AND PROGRAMS DURING 2021.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Jon Crow Chairperson | OfficerTrustee | 0.5 | $0 |
Kathryn Barnes Vice Chair | OfficerTrustee | 0.5 | $0 |
Jennifer Tregarthen Secretary / Treasurer | OfficerTrustee | 0.5 | $0 |
Michael Phelps President / CEO | Officer | 0.5 | $0 |
Douglas Stasek Executive Director | Officer | 47.5 | $0 |
Aaron Bloomquist CFO | Officer | 4 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $1,110,151 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $2,185,427 |
| Noncash contributions included in lines 1a–1f | $680,185 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $3,295,578 |
| Total Program Service Revenue | $0 |
| Investment income | $323,707 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $1,076,351 |
| Net Income from Fundraising Events | -$229,725 |
| Net Income from Gaming Activities | -$7,387 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $4,458,524 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $1,770,226 |
| Grants and other assistance to domestic individuals. | $36,000 |
| 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 | $0 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $104,687 |
| Fees for services: Other | $0 |
| Advertising and promotion | $0 |
| Office expenses | $0 |
| Information technology | $0 |
| 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 | $174,496 |
| Total functional expenses | $2,085,409 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $1,646,932 |
| Savings and temporary cash investments | $489,169 |
| Pledges and grants receivable | $850,029 |
| Accounts receivable, net | $65,857 |
| 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 | $17,442,881 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $4,714,565 |
| Total assets | $25,209,433 |
| Accounts payable and accrued expenses | $240,500 |
| 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 | $201,463 |
| Total liabilities | $441,963 |
| Net assets without donor restrictions | $16,483,367 |
| Net assets with donor restrictions | $8,284,103 |
| 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 | $25,209,433 |
Grants Awarded
Over the last fiscal year, Ridgeview Foundation has awarded $1,770,226 in support to 3 organizations.
| Grant Recipient | Amount |
|---|---|
Waconia, MN PURPOSE: FUNDRAISING SUPPORT OF RIDGEVIEW MEDICAL CENTER | $1,688,581 |
Le Sueur, MN PURPOSE: FUNDRAISING SUPPORT OF MINNESOTA VALLEY HEALTH CENTER | $47,943 |
Arlington, MN PURPOSE: FUNDRAISING SUPPORT OF SIBLEY MEDICAL CENTER | $33,702 |
Grants Recieved
Over the last fiscal year, we have identified 2 grants that Ridgeview Foundation has recieved totaling $6,000.
| Awarding Organization | Amount |
|---|---|
Connexus Energy Foundation Ramsey, MN PURPOSE: PAY IT FORWARD INITIATIVE - MERCY HOSPITAL AREA FOCUS | $5,000 |
Retel Foundation Charitable Tr Waconia, MN PURPOSE: MEDICAL | $1,000 |
Endowment Analysis
| Beg. Balance | $6,107,027 |
| Earnings | $287,550 |
| Net Contributions | $526,558 |
| Other Expense | $287,550 |
| Ending Balance | $6,633,585 |
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 |