Western Minnesota Masonic Foundation
- Assets
- $157.6k
- Revenue
- $47.0k
- Investments
- $0.0
- Employees
- 0
- Location
- Montevideo, MN
- Founding
- 07/1988
- Data as of
- 12/2022
- EIN
- 41-1570211
Organization Overview
Western Minnesota Masonic Foundation is located in Montevideo, MN. The organization was established in 1988. According to its NTEE Classification (Y42) the organization is classified as: Domestic Fraternal Societies, under the broad grouping of Mutual & Membership Benefit and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Western Minnesota Masonic 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 12/2022, Western Minnesota Masonic Foundation generated $47.0k in total revenue. All expenses for the organization totaled $16.2k during the year ending 12/2022. While expenses have increased by 6.2% per year over the past 8 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
990PF
Mission & Program ActivityExcerpts From the 990PF Filing
TAX YEAR
2022
Describe the Organization's Program Activity:
Part 3 - Line 4a
SUPPORTING HIGHER EDUCATION BY PROVIDING SCHOLARSHIPS TO GRADUATING HIGH SCHOOLERS WHO DEMONSTRATE THE ABILITY AND SKILLS LIKELY TO LEAD ACADEMIC SUCCESS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
John Givan President | 1 | $0 | |
Ralph Lunde Secretary | 1 | $0 | |
Dave Gilbertson Attorney | 1 | $0 | |
Mark Rekow Treasurer | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $0 |
| Interest on Savings | $10 |
| Dividends & Interest | $3,686 |
| Net Rental Income | $0 |
| Net Gain on Sale of Assets | $43,296 |
| Capital Gain Net Income | $43,296 |
| Net ST Capital Gain | $0 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $0 |
| Other Income | $0 |
| Total Revenue | $46,992 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $0 |
| Other employee salaries and wages | $0 |
| Pension plans, employee benefits | $0 |
| Interest | $0 |
| Taxes | $150 |
| Depreciation | $0 |
| Occupancy | $0 |
| Travel, conferences, and meetings | $0 |
| Printing and publications | $0 |
| Other expenses | $0 |
| Total operating and administrative expenses | $2,671 |
| Contributions, gifts, grants paid | $13,500 |
| Total expenses and disbursements | $16,171 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $157,625 |
| Savings and temporary cash investments | $0 |
| Net Accounts receivable | $0 |
| Net Pledges Receivable | $0 |
| Grants receivable | $0 |
| Receivables from Officers, Directors, or Controlling Persons | $0 |
| Net other notes and loans receivable | $0 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $0 |
| Net Investments - land, buildings, equipment | $0 |
| Investments—mortgage loans | $0 |
| Investments—other | $0 |
| Net Land, buildings, and equipment | $0 |
| Other assets | $0 |
| Total assets | $157,625 |
| Accounts payable and accrued expenses | $0 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Mortgages and other notes payable | $0 |
| Other liabilities | $0 |
| Total liabilities | $0 |
Grants Awarded
Over the last fiscal year, Western Minnesota Masonic Foundation has awarded $13,500 in support to 4 organizations.
| Grant Recipient | Amount |
|---|---|
JADA ASHLING PURPOSE: SCHOLARSHIP | $5,000 |
AURORA WYMAR PURPOSE: SCHOLARSHIP | $2,500 |
AMERY ARENDS PURPOSE: SCHOLARSHIP | $3,000 |
LIVIA GADES PURPOSE: SCHOLARSHIP | $3,000 |