Wem Foundation
- Assets
- $0.0
- Revenue
- $5.9m
- Investments
- $0.0
- Employees
- 0
- Location
- Minneapolis, MN
- Founding
- 12/1988
- Data as of
- 12/2023
- EIN
- 41-1604640
Organization Overview
Wem Foundation is located in Minneapolis, MN. The organization was established in 1988. According to its NTEE Classification (T20) the organization is classified as: Private Grantmaking Foundations, 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. Wem 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 12/2023, Wem Foundation generated $5.9m in total revenue. This represents a relatively dramatic decline in revenue. Over the past 5 years, the organization has seen revenues fall by an average of (33.4%) each year. All expenses for the organization totaled $360.2m during the year ending 12/2023. You can explore the organizations financials more deeply in the financial statements section below.
Since 2020, Wem Foundation has awarded 539 individual grants totaling $610,329,728. 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.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Elizabeth S Macmillan Director/vice Chair/sec | 1 | $0 | |
Harriet S Norgren Director | 0.25 | $5,000 | |
James Hield Director/president | 40 | $390,000 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $0 |
| Interest on Savings | $5,933,855 |
| Dividends & Interest | $0 |
| Net Rental Income | $0 |
| Net Gain on Sale of Assets | $0 |
| Capital Gain Net Income | $0 |
| Net ST Capital Gain | $0 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $0 |
| Other Income | $10,000 |
| Total Revenue | $5,943,855 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $5,000 |
| Other employee salaries and wages | $390,000 |
| Pension plans, employee benefits | $14,140 |
| Interest | $0 |
| Taxes | $98,207 |
| Depreciation | $0 |
| Occupancy | $67,555 |
| Travel, conferences, and meetings | $0 |
| Printing and publications | $0 |
| Other expenses | $10,023 |
| Total operating and administrative expenses | $699,905 |
| Contributions, gifts, grants paid | $359,470,304 |
| Total expenses and disbursements | $360,170,209 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| 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 | $0 |
| 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, Wem Foundation has awarded $359,470,304 in support to 135 organizations.
| Grant Recipient | Amount |
|---|---|
ABBOTT NORTHWESTERN HOSPITAL FOUNDATION PURPOSE: GENERAL | $10,000,000 |
ANNEX TEEN CLINIC PURPOSE: GENERAL | $250,000 |
ACHIEVE TWIN CITIES PURPOSE: GENERAL | $800,000 |
ANGEL FOUNDATION PURPOSE: GENERAL | $515,000 |
BESTPREP PURPOSE: GENERAL | $1,100,000 |
BANYAN COMMUNITY PURPOSE: GENERAL | $350,000 |