Wells Fargo Foundation
- Assets
- $50.5m
- Revenue
- $256.3m
- Investments
- $20.0m
- Employees
- 0
- Location
- Minneapolis, MN
- Founding
- 02/1980
- Data as of
- 12/2023
- EIN
- 41-1367441
Organization Overview
Wells Fargo Foundation is located in Minneapolis, MN. The organization was established in 1980. According to its NTEE Classification (T21) the organization is classified as: Corporate 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. Wells Fargo 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, Wells Fargo Foundation generated $256.3m in total revenue. This represents a relatively dramatic decline in revenue. Over the past 5 years, the organization has seen revenues fall by an average of (6.6%) each year. All expenses for the organization totaled $218.4m during the year ending 12/2023. As we would expect to see with falling revenues, expenses have declined by (9.8%) per year over the past 5 years. You can explore the organizations financials more deeply in the financial statements section below.
Form
990PF
Mission & Program ActivityExcerpts From the 990PF Filing
TAX YEAR
2023
Describe the Organization's Program Activity:
Part 3 - Line 4a
NONE
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Name Not Listed Secretary | 0.5 | $0 | |
Name Not Listed Director | 0.5 | $0 | |
Name Not Listed Director | 0.5 | $0 | |
Name Not Listed Director & Chairperson | 0.5 | $0 | |
Name Not Listed Director | 0.5 | $0 | |
Name Not Listed Director & President | 0.5 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $252,622,560 |
| Interest on Savings | $0 |
| Dividends & Interest | $2,402,605 |
| Net Rental Income | $0 |
| Net Gain on Sale of Assets | $1,063,676 |
| Capital Gain Net Income | $15,392,437 |
| Net ST Capital Gain | $0 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $0 |
| Other Income | $249,632 |
| Total Revenue | $256,338,473 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $0 |
| Other employee salaries and wages | $0 |
| Pension plans, employee benefits | $0 |
| Interest | $0 |
| Taxes | $764,000 |
| Depreciation | $0 |
| Occupancy | $0 |
| Travel, conferences, and meetings | $0 |
| Printing and publications | $0 |
| Other expenses | $0 |
| Total operating and administrative expenses | $804,672 |
| Contributions, gifts, grants paid | $217,631,092 |
| Total expenses and disbursements | $218,435,764 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $29,082,662 |
| Net Accounts receivable | $1,488,776 |
| 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 | $50,523,797 |
| 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 |