Northwood Foundation
- Assets
- $24.3m
- Revenue
- $998.6k
- Investments
- $0.0
- Employees
- 0
- Location
- Duluth, MN
- Founding
- 07/1983
- Data as of
- 12/2021
- EIN
- 41-1448392
Organization Overview
Northwood Foundation is located in Duluth, MN. The organization was established in 1983. According to its NTEE Classification (P70) the organization is classified as: Residential Care & Adult Day Programs, under the broad grouping of Human Services and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Northwood 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, Northwood Foundation generated $998.6k in total revenue. This organization has experienced exceptional growth, as over the past 7 years, it has increased revenue by an average of 14.1% each year . All expenses for the organization totaled $58.7k during the year ending 12/2021. While expenses have increased by 9.8% per year over the past 7 years. They've been increasing with an increasing level of total revenue. 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
SUPPORTING ORGANIZATION.
Describe the Organization's Program Activity:
Part 3 - Line 4a
PROVIDE LONG-TERM FINANCIAL SUPPORT FOR NORTHWOOD CHILDREN'S HOME SOCIETY, INC. ALL GRANTS AND ALLOCATIONS ARE TO NORTHWOOD CHILDREN'S HOME SOCIETY, INC., WHICH IS A SUPPORTED ORGANIZATION.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Richard Wolleat President | OfficerTrustee | 1 | $0 |
Patrick Johns Director | Trustee | 1 | $0 |
Joleen Finken Director | Trustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $22,830 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $22,830 |
| Total Program Service Revenue | $0 |
| Investment income | $417,113 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $558,679 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $998,622 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $0 |
| 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 | $58,670 |
| 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 | $0 |
| Total functional expenses | $58,670 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $0 |
| 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 | $24,321,773 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $24,321,773 |
| Accounts payable and accrued expenses | $0 |
| 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 | $0 |
| Total liabilities | $0 |
| Net assets without donor restrictions | $24,321,773 |
| Net assets with donor restrictions | $0 |
| 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 | $24,321,773 |
Endowment Analysis
| Beg. Balance | $21,940,592 |
| Earnings | $2,358,351 |
| Net Contributions | $22,830 |
| Ending Balance | $24,321,773 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
St Ann Center For Intergenerational Care Inc Milwaukee, WI | $25,026,864 | $7,300,810 |
Christian Home Association Childrens Square U S A Council Bluffs, IA | $14,014,864 | $7,403,161 |
Iowa Odd Fellows And Orphans Home Mason City, IA | $11,105,448 | $7,729,461 |
American Lutheran Homes Inc Menomonie, WI | $8,577,253 | $8,199,187 |
United Retirement Center Brookings, SD | $9,279,217 | $6,878,493 |
Grand View Home Inc Blair, WI | $13,595,343 | $7,366,681 |
The Hills Youth And Family Services Inc Minneapolis, MN | $33,407,300 | $3,054,780 |
Dacotah Foundation Bismarck, ND | $3,074,886 | $5,815,710 |
Bethesda Home Webster, SD | $4,643,285 | $4,682,033 |
Rolette Community Care Center Rolette, ND | $3,464,587 | $3,955,615 |
Elevate Inc Jackson, WI | $1,354,849 | $3,200,443 |
Heartland Ranch Inc Benson, MN | $2,443,003 | $3,087,571 |