Inver Grove Heights B E S T Foundation is located in Inver Grove Heights, MN. The organization was established in 1992. According to its NTEE Classification (B94) the organization is classified as: Parent & Teacher Groups, under the broad grouping of Education and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Inver Grove Heights B E S T 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 06/2022, Inver Grove Heights B E S T Foundation generated $511.6k in total revenue. This organization has experienced exceptional growth, as over the past 7 years, it has increased revenue by an average of 12.6% each year . All expenses for the organization totaled $259.2k during the year ending 06/2022. While expenses have increased by 2.9% 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
2022
Describe the Organization's Mission:
Part 3 - Line 1
TO RAISE AND AWARD FUNDS FOR POST-SECONDARY SCHOLARSHIPS TO SIMLEY HIGH SCHOOL GRADUATES
Describe the Organization's Program Activity:
Part 3 - Line 4a
PROVIDE POST-SECONDARY EDUCATION SCHOLARSHIPS TO INVER GROVE HEIGHTS SCHOOL DISTRICT STUDENTS. THE ORGANIZATION HAS PROVIDED ASSSITANCE TO 137 INDIVIDUALS IN THE CURRENT FISCAL YEAR. STUDENTS MAY DEFER PAYMENTS IF REQUESTED BY A SPECIFIC DATE AND APPROVED BY THE BOARD OF DIRECTORS. THIS TOTAL INCLUDES SCHOLARSHIPS AWARDED IN PRIOR YEARS.
Name (title) | Role | Hours | Compensation |
---|---|---|---|
Paul Wagner Director | Trustee | 1 | $0 |
Rachel Hanson Ex-Officio School Board Rep | Trustee | 1 | $0 |
Emily Peterson Boone Director | Trustee | 1 | $0 |
Muresuk Mena Director | Trustee | 1 | $0 |
Gina Wright Director | Trustee | 3 | $0 |
David Bernhardson Ex-Officio | Trustee | 1 | $0 |
Statement of Revenue | |
---|---|
Federated campaigns | $0 |
Membership dues | $0 |
Fundraising events | $14,883 |
Related organizations | $0 |
Government grants | $0 |
All other contributions, gifts, grants, and similar amounts not included above | $465,586 |
Noncash contributions included in lines 1a–1f | $0 |
Total Revenue from Contributions, Gifts, Grants & Similar | $480,469 |
Total Program Service Revenue | $0 |
Investment income | $27,331 |
Tax Exempt Bond Proceeds | $0 |
Royalties | $0 |
Net Rental Income | $0 |
Net Gain/Loss on Asset Sales | $0 |
Net Income from Fundraising Events | $1,827 |
Net Income from Gaming Activities | $2,010 |
Net Income from Sales of Inventory | $0 |
Miscellaneous Revenue | $0 |
Total Revenue | $511,637 |
Statement of Expenses | |
---|---|
Grants and other assistance to domestic organizations and domestic governments. | $0 |
Grants and other assistance to domestic individuals. | $224,143 |
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 | $21,237 |
Fees for services: Lobbying | $0 |
Fees for services: Fundraising | $0 |
Fees for services: Investment Management | $0 |
Fees for services: Other | $0 |
Advertising and promotion | $0 |
Office expenses | $3,929 |
Information technology | $5,787 |
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 | $1,914 |
All other expenses | $0 |
Total functional expenses | $259,151 |
Balance Sheet | |
---|---|
Cash—non-interest-bearing | $0 |
Savings and temporary cash investments | $111,047 |
Pledges and grants receivable | $6,000 |
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 | $5,377 |
Net Land, buildings, and equipment | $0 |
Investments—publicly traded securities | $1,753,830 |
Investments—other securities | $0 |
Investments—program-related | $0 |
Intangible assets | $0 |
Other assets | $0 |
Total assets | $1,876,254 |
Accounts payable and accrued expenses | $1,167 |
Grants payable | $269,143 |
Deferred revenue | $1,350 |
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 | $271,660 |
Net assets without donor restrictions | $475,934 |
Net assets with donor restrictions | $1,128,660 |
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 | $1,876,254 |