Stearns Foundation Inc
- Assets
- $206.7k
- Revenue
- $14.0k
- Investments
- $197.5k
- Employees
- 0
- Location
- Hutchinson, MN
- Founding
- 01/1989
- Data as of
- 03/2024
- EIN
- 41-1609446
Organization Overview
Stearns Foundation Inc is located in Hutchinson, MN. The organization was established in 1989. 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. Stearns Foundation Inc is a 501(c)(3) and as such, is described as a "Charitable or Religous organization or a private foundation" by the IRS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Kris Haag Secretary | 1 | $0 | |
Corey Stearns President | 1 | $0 | |
Kim Schutt Director | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $0 |
| Interest on Savings | $18 |
| Dividends & Interest | $4,896 |
| Net Rental Income | $0 |
| Net Gain on Sale of Assets | $9,067 |
| Capital Gain Net Income | $9,067 |
| Net ST Capital Gain | $0 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $0 |
| Other Income | $0 |
| Total Revenue | $13,981 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $0 |
| Other employee salaries and wages | $0 |
| Pension plans, employee benefits | $0 |
| Interest | $0 |
| Taxes | $133 |
| Depreciation | $0 |
| Occupancy | $0 |
| Travel, conferences, and meetings | $0 |
| Printing and publications | $0 |
| Other expenses | $1,382 |
| Total operating and administrative expenses | $3,255 |
| Contributions, gifts, grants paid | $8,150 |
| Total expenses and disbursements | $11,405 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $3,065 |
| Savings and temporary cash investments | $6,226 |
| 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 | $197,450 |
| Net Land, buildings, and equipment | $0 |
| Other assets | $0 |
| Total assets | $206,741 |
| 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, Stearns Foundation Inc has awarded $8,150 in support to 14 organizations.
| Grant Recipient | Amount |
|---|---|
TIM ORTH MEMORIAL PURPOSE: GENERAL PROGRAM SUPPORT, 2023 BENEFI | $100 |
DOLLARS FOR SCHOLARS PURPOSE: SCHOLARSHIPS OF STUDENTS | $2,500 |
PARENTS FOR SENIORS PURPOSE: GENERAL SUPPORT | $150 |
RIVERSONG MUSIC FESTIVAL PURPOSE: SUPPORT OF COMMUNITY | $1,250 |
JAYCEE WATER CARNIVAL PURPOSE: SUPPORT OF COMMUNITY | $250 |
UNITED WAY OF MCLLEOD COUNTY PURPOSE: SPONSOR YOUTH ACTIVITY | $200 |