The Harry Kay Charitable Foundation
- Assets
- $26.5m
- Revenue
- $2.0m
- Investments
- $0.0
- Employees
- 0
- Location
- Minneapolis, MN
- Founding
- 06/1983
- Data as of
- 11/2021
- EIN
- 41-1448610
Organization Overview
The Harry Kay Charitable Foundation is located in Minneapolis, MN. The organization was established in 1983. According to its NTEE Classification (T90) the organization is classified as: Named Trusts N.E.C., 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. Harry Kay Charitable 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 11/2021, Harry Kay Charitable Foundation generated $2.0m in total revenue. This organization has experienced exceptional growth, as over the past 6 years, it has increased revenue by an average of 28.4% each year . All expenses for the organization totaled $1.1m during the year ending 11/2021. You can explore the organizations financials more deeply in the financial statements section below.
Since 2015, Harry Kay Charitable Foundation has awarded 23 individual grants totaling $8,934,989. 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
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2021
Describe the Organization's Mission:
Part 3 - Line 1
PROVIDES FINANCIAL SUPPORT TO VARIOUS PUBLIC CHARITIES DESIGNATED IN ITS ARTICLES.
Describe the Organization's Program Activity:
Part 3 - Line 4a
SINCE INCEPTION, THE HARRY KAY FOUNDATION HAS PROVIDED OVER 50 MILLION DOLLARS TO SUPPORT VARIOUS ORGANIZATIONS IN THE MINNEAPOLIS-ST. PAUL AREA. THE ORGANIZATION DONATED A COMBINED $925,000 DURING THE CURRENT YEAR TO TWO OF ITS SUPPORTED ORGANIZATIONS, THE MINNEAPOLIS JEWISH FEDERATION AND ST. PAUL JEWISH FEDERATION.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Tom Sanders Chairman | OfficerTrustee | 1 | $0 |
Michael Horovitz President | OfficerTrustee | 1 | $0 |
Beth Leonard Treasurer | OfficerTrustee | 1 | $0 |
Stephen Lieberman Director | Trustee | 1 | $0 |
Kris Macdonald Director | Trustee | 1 | $0 |
Alan Milavetz 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 | $0 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $0 |
| Total Program Service Revenue | $0 |
| Investment income | $633,990 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $1,396,315 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $2,030,305 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $925,000 |
| 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 | $37,244 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $107,343 |
| Fees for services: Other | $310 |
| 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 | $25 |
| Total functional expenses | $1,069,922 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $1,386,867 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $5,093 |
| 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 | $25,115,135 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $26,507,095 |
| Accounts payable and accrued expenses | $0 |
| Grants payable | $2,267,619 |
| 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 | $2,267,619 |
| Net assets without donor restrictions | $24,239,476 |
| 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 | $26,507,095 |
Grants Awarded
Over the last fiscal year, The Harry Kay Charitable Foundation has awarded $925,000 in support to 3 organizations.
| Grant Recipient | Amount |
|---|---|
Minneapolis, MN PURPOSE: ANNUAL CAMPAIGN | $525,000 |
St Paul, MN PURPOSE: ANNUAL CAMPAIGN | $325,000 |
Minneapolis, MN PURPOSE: CHARITABLE PURPOSES | $75,000 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
William F Vilas Estate Oregon, WI | $133,759,429 | $14,905,447 |
Woodbourne Charitable Trust Plymouth, MN | $1,142,964 | $10,020,932 |
James M Stanton Foundation Bloomington, MN | $29,105,685 | $38,323,984 |
Cokato Charitable Trust Cokato, MN | $9,103,416 | $8,785,306 |
Jay And Rose Phillips Family Foundation Of Minnesota Minneapolis, MN | $65,545,808 | $6,097,586 |
Hennessey Charitable Trust Dubuque, IA | $69,986,391 | $0 |
Marie H Bechtel Charitable Trust Davenport, IA | $48,721,172 | $1,150,391 |
Henry J Predolin Foundation Inc Madison, WI | $69,057,848 | $691,560 |
Ciresi Walburn Foundation For Children Minneapolis, MN | $31,215,919 | $1,296,068 |
Holthues Tr Muscatine, IA | $22,886,855 | $2,685,899 |
Murphy Charitable Family Foundation Ankeny, IA | $6,139,720 | $12,111 |
Conrad Heskin Charitable Trust Grand Forks, ND | $0 | $281,368 |