Lutheran Church Of The Good Shepherd Of Duluth Endowment Fund
- Assets
- $1.5m
- Revenue
- $63.1k
- Investments
- $0.0
- Employees
- 0
- Location
- Duluth, MN
- Founding
- 10/1988
- Data as of
- 12/2022
- EIN
- 41-1555753
Organization Overview
Lutheran Church Of The Good Shepherd Of Duluth Endowment Fund is located in Duluth, MN. The organization was established in 1988. According to its NTEE Classification (X21) the organization is classified as: Protestant, under the broad grouping of Religion-Related and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Lutheran Church Of The Good Shepherd Of Duluth Endowment Fund 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 12/2022, Lutheran Church Of The Good Shepherd Of Duluth Endowment Fund generated $63.1k 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 (17.4%) each year. All expenses for the organization totaled $68.1k during the year ending 12/2022. 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
2022
Describe the Organization's Mission:
Part 3 - Line 1
PROVIDES BEQUESTS FOR MULTIPLE PURPOSES FOR ACTIVITIES WITHIN THE LUTHERAN CHURCH.
Describe the Organization's Program Activity:
Part 3 - Line 4a
PROVIDES BEQUESTS FOR BENEVOLENT, CHARITABLE EDUCAITONAL AND RELIGIOUS PURPOSES WITHIN THE ACTIVITIES OF THE LUTHERAN CHURCH OF AMERICA.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Joe Johnson Treasurer | OfficerTrustee | 1 | $0 |
Rosie Loeffler-Kemp Secretary | OfficerTrustee | 1 | $0 |
Cal Loken Vice Preside | OfficerTrustee | 1 | $0 |
Tom Seidelmann Presiednt | OfficerTrustee | 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 | $5,970 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $5,970 |
| Total Program Service Revenue | $0 |
| Investment income | $47,549 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $9,525 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $63,073 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $62,650 |
| 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 | $450 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $4,946 |
| 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 | $25 |
| Total functional expenses | $68,071 |
| 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 | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $1,456,141 |
| Total assets | $1,456,141 |
| 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 | $1,456,141 |
| 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 | $1,456,141 |
Grants Awarded
Over the last fiscal year, Lutheran Church Of The Good Shepherd Of Duluth Endowment Fund has awarded $29,150 in support to 3 organizations.
| Grant Recipient | Amount |
|---|---|
LUTHERAN SOCIAL SERVICES OF MN PURPOSE: CHARITABLE DONATION | $10,000 |
LUTHERAN CHURCH GOOD SHEPHERD PURPOSE: CHARITABLE DONATION | $6,150 |
FIRST WITNESS CHILD ADVOCACY CENTER PURPOSE: CHARITABLE DONATION | $13,000 |