Grand Itasca Foundation
- Assets
- $1.7m
- Revenue
- $535.3k
- Investments
- $0.0
- Employees
- 0
- Location
- Grand Rapids, MN
- Founding
- 03/1987
- Data as of
- 12/2021
- EIN
- 41-1560554
Organization Overview
Grand Itasca Foundation is located in Grand Rapids, MN. The organization was established in 1987. According to its NTEE Classification (E22) the organization is classified as: General Hospitals, under the broad grouping of Health Care and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Grand Itasca 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, Grand Itasca Foundation generated $535.3k in total revenue. This organization has experienced exceptional growth, as over the past 7 years, it has increased revenue by an average of 21.2% each year . All expenses for the organization totaled $117.7k during the year ending 12/2021. While expenses have increased by 1.4% 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
TO BUILD PHILANTHROPIC PARTNERSHIPS TO SUPPORT THE MISSION OF GRAND ITASCA CLINIC AND HOSPITAL.
Describe the Organization's Program Activity:
Part 3 - Line 4a
GRAND ITASCA FOUNDATION ENHANCES AND HELPS TO GUARANTEE THE DELIVERY OF CONTRIBUTIONS AND PROVIDE FINANCIAL SUPPORT TO GRAND ITASCA CLINIC AND HOSPITAL. IN 2021 GRAND ITASCA FOUNDATION AWARDED $105,678 IN TOTAL GRANT FUNDING TO ORGANIZATIONS AND INDIVIDUALS. THIS INCLUDES $77,678 TO GRAND ITASCA CLINIC AND HOSPITAL FOR PATIENT FOCUSED PROJECTS, NINE INDIVIDUAL SCHOLARSHIP AWARDS TOTALING $23,000 AND CARE TO SHARE GRANTS TO 10 RECIPIENTS FOR A TOTAL OF $5,000.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Name Not Listed Director, New 1-1-2021 | Trustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $4,089 |
| Related organizations | $250,000 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $172,269 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $426,358 |
| Total Program Service Revenue | $0 |
| Investment income | $1,693 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | $107,255 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $535,306 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $77,678 |
| Grants and other assistance to domestic individuals. | $28,000 |
| 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 | $8,314 |
| Advertising and promotion | $0 |
| Office expenses | $3,671 |
| 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 | $117,663 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $1,440,678 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $2,205 |
| 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 | $283,881 |
| Total assets | $1,726,764 |
| Accounts payable and accrued expenses | $571 |
| 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 | $261,886 |
| Total liabilities | $262,457 |
| Net assets without donor restrictions | -$152,958 |
| Net assets with donor restrictions | $1,617,265 |
| 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 | $1,726,764 |
Grants Awarded
Over the last fiscal year, Grand Itasca Foundation has awarded $446,779 in support to 2 organizations.
| Grant Recipient | Amount |
|---|---|
Grand Rapids, MN PURPOSE: PROGRAM SUPPORT | $346,654 |
Grand Rapids, MN PURPOSE: PROGRAM SUPPORT | $100,125 |
Grants Recieved
Over the last fiscal year, we have identified 6 grants that Grand Itasca Foundation has recieved totaling $25,117.
| Awarding Organization | Amount |
|---|---|
Grand Rapids Area Community Fndtn Grand Rapids, MN PURPOSE: Annual Distribution | $19,426 |
Charles K Blandin Foundation Grand Rapids, MN PURPOSE: MATCHING GIFT CONTRIBUTION IN ITASCA COUNTY | $4,000 |
Minnesota Power Foundation Duluth, MN PURPOSE: TEDDY BEAR FUND | $1,000 |
Charles K Blandin Foundation Grand Rapids, MN PURPOSE: MATCHING GIFT CONTRIBUTION IN ITASCA COUNTY | $300 |
Charles K Blandin Foundation Grand Rapids, MN PURPOSE: MATCHING GIFT CONTRIBUTION IN ITASCA COUNTY | $200 |
Amazonsmile Foundation Seattle, WA PURPOSE: GENERAL SUPPORT | $191 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Divine Savior Healthcare Inc Portage, WI | $146,404,206 | $99,548,163 |
Avera St Marys Pierre, SD | $117,040,382 | $106,933,224 |
Sauk Prairie Healthcare Inc Prairie Du Sac, WI | $167,630,839 | $104,363,502 |
Langlade Hospital-Hotel Dieu Of St Joseph Of Antigo Wisconsin Antigo, WI | $246,815,047 | $116,695,452 |
Mercy Medical Center of Oshkosh Inc Oshkosh, WI | $0 | $88,188,701 |
Mercy Medical Center Williston, ND | $138,014,231 | $90,717,177 |
Aspirus Medford Hospital & Clinics Inc Medford, WI | $193,217,464 | $105,652,472 |
St Anthony Regional Hospital And Nursing Home Carroll, IA | $221,133,827 | $96,228,816 |
Reedsburg Area Medical Center Inc Reedsburg, WI | $115,043,817 | $85,985,153 |
Hutchinson Health Hutchinson, MN | $100,932,571 | $98,923,627 |
Unity Family Healthcare Little Falls, MN | $118,628,912 | $78,028,043 |
Westfields Hospital Inc Minneapolis, MN | $77,938,894 | $82,329,406 |