Benedictine Foundation
- Assets
- $14.9m
- Revenue
- $3.3m
- Investments
- $0.0
- Employees
- 0
- Location
- Minneapolis, MN
- Founding
- 03/1946
- Data as of
- 06/2022
- EIN
- 41-1513014
Organization Overview
Benedictine Foundation is located in Minneapolis, MN. The organization was established in 1946. According to its NTEE Classification (E12) the organization is classified as: Fund Raising & Fund Distribution, under the broad grouping of Health Care and related organizations. This organization is a subordinate organization within an affiliated group for tax-exemption purposes. Benedictine 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 06/2022, Benedictine Foundation generated $3.3m in total revenue. This represents a relatively dramatic decline in revenue. Over the past 7 years, the organization has seen revenues fall by an average of (6.0%) each year. All expenses for the organization totaled $2.4m during the year ending 06/2022. As we would expect to see with falling revenues, expenses have declined by (11.4%) per year over the past 7 years. You can explore the organizations financials more deeply in the financial statements section below.
Since 2015, Benedictine Foundation has awarded 144 individual grants totaling $22,292,064. 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
2022
Describe the Organization's Mission:
Part 3 - Line 1
COORDINATE, ENCOURAGE, MOTIVATE AND SUPPORT THE FUND DEVELOPMENT ACTIVITY EFFORT WITHIN BHS.
Describe the Organization's Program Activity:
Part 3 - Line 4a
BENEDICTINE HEALTH SYSTEM (BENENDICTINE) IS A CATHOLIC, FAITH-BASED ORGANIZATION ENTRUSTED WITH ADVANCING THE LIFE-ENHANCING SENIOR CARE MINISTRY OF BENEDICTINE SISTERS OF DULUTH, MINNESOTA. WE WITNESS TO GOD'S LOVE BY CREATING INCLUSIVE COMMUNITIES, SUPPORTING THOSE WE SERVE TO LIVE WELL AND WITH PURPOSE, WITH SPECIAL CONCERN FOR THE UNDERSERVED.BENEDICTINE FOUNDATION WAS ESTABLISHED TO COORDINATE, ENCOURAGE, MOTIVATE AND SUPPORT THE FUND DEVELOPMENT EFFORTS WITHIN BENEDICTINE AND ITS SUPPORTED ORGANIZAITONS THROUGH ASSOCIATED FOUNDATIONS AND TO OVERSEE THE OPTIMAL INVESTMENT AND MANAGEMENT OF ASSOCIATED FOUNDATIONS' FUNDS.THE BENEDICTINE FOUNDATION CONSISTS OF 24 ASSOCIATED FOUNDATIONS, INCLUDING:VILLA ST. BENEDICT FOUNDATION, LISLE, ILBENEDICTINE FOUNDATION-ADA, MNBENEDICTINE FOUNDATION-CROOKSTON, MNBENEDICTINE FOUNDATION-DULUTH, MNBENEDICTINE FOUNDATION-MINNEAPOLIS, MNBENEDICTINE FOUNDATION-NEW BRIGHTON, MNBENEDICTINE FOUNDATION-OWATONNA, MNBENEDICTINE FOUNDATION-RED WING, MNBENEDICTINE FOUNDATION-ROCHESTER, MNBENEDICTINE FOUNDATION-SHAKOPEE, MNBENEDICTINE FOUNDATION-ST. PETER, MNBENEDICTINE FOUNDATION-WINONA, MNCERENITY FOUNDATION, MNCERENITY - HUMBOLDT FOUNDATION, MNCERENITY - MARIAN OF ST. PAUL FOUNDATION, MNCERENITY - WHITE BEAR LAKE FOUNDATION, MNBENEDICTINE FOUNDATION-ST. JOSEPH, MONAZARETH LIVING CENTER FOUNDATION, MOBENEDICTINE FOUNDATION-BISMARCK, NDBENEDICTINE FOUNDATION-DICKINSON, NDBENEDICTINE FOUNDATION-ELLENDALE, NDBENEDICTINE FOUNDATION-GARRISON, NDBENEDICTINE FOUNDATION-LAMOURE, NDBENEDICTINE FOUNDATION-WAHPETON, ND
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Jerry Carley CEO Of Bhs | Officer | 1 | $0 |
Kevin Rymanowski CFO Of Bhs & Treasurer | Officer | 1 | $0 |
Laurie Hennen President | Officer | 40 | $0 |
Tracy Lehn Director | Trustee | 1 | $0 |
Jane Dolter Chair (through Aug 2021) | OfficerTrustee | 1 | $0 |
Kevin Greff Vice Chair | OfficerTrustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $21,424 |
| Related organizations | $1,905,683 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $1,261,729 |
| Noncash contributions included in lines 1a–1f | $6,000 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $3,188,836 |
| Total Program Service Revenue | $52,423 |
| Investment income | $71,447 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $2 |
| Net Income from Fundraising Events | $3,052 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $3,315,760 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $2,035,650 |
| 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 | $0 |
| Fees for services: Other | $221,299 |
| Advertising and promotion | $5,093 |
| Office expenses | $83,092 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $16,874 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $4,337 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $0 |
| All other expenses | $0 |
| Total functional expenses | $2,419,488 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $4,341,163 |
| Savings and temporary cash investments | $801,629 |
| Pledges and grants receivable | $116,580 |
| 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 | $9,006,043 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $629,389 |
| Total assets | $14,894,804 |
| Accounts payable and accrued expenses | $3,563 |
| 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 | $38,615 |
| Total liabilities | $42,178 |
| Net assets without donor restrictions | $3,296,217 |
| Net assets with donor restrictions | $11,556,409 |
| 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 | $14,894,804 |
Grants Awarded
Over the last fiscal year, Benedictine Foundation has awarded $2,035,650 in support to 15 organizations.
| Grant Recipient | Amount |
|---|---|
BENEDICTINE HEALTH CENTER PURPOSE: CAPITAL FUND/SUPPORT | $181,224 |
BENEDICTINE CARE CENTERS PURPOSE: CAPITAL FUND/SUPPORT | $130,007 |
BENEDICTINE LIVING COMMUNITIES INC PURPOSE: CAPITAL FUND/SUPPORT | $333,530 |
BENEDICTINE LIVING COMMUNITIES - BISMARCK PURPOSE: CAPITAL FUND/SUPPORT | $41,562 |
BRIDGES CARE COMMUNITY PURPOSE: CAPITAL FUND/SUPPORT | $47,292 |
CERENITY SENIOR CARE PURPOSE: CAPITAL FUND/SUPPORT | $109,144 |