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 06/2021, Inver Grove Heights B E S T Foundation generated $127.1k in total revenue. This represents a relatively dramatic decline in revenue. Over the past 6 years, the organization has seen revenues fall by an average of (9.0%) each year. All expenses for the organization totaled $170.9k during the year ending 06/2021. As we would expect to see with falling revenues, expenses have declined by (3.5%) per year over the past 6 years. 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 RAISE AND AWARD FUNDS FOR POST-SECONDARY SCHOLARSHIPS TO SIMLEY HIGH SCHOOL GRADUATES
Describe the Organization's Program Activity:
Part 3 - Line 4a
IN REFLECTING OVER THE PAST THIRTY YEARS AND ESPECIALLY THE PAST TWO YEARS, IT HAS BEEN VERY OBVIOUS THAT THIS FOUNDATION HAS BEEN BUILT ON A VERY SOLID FOUNDATION. IT IS WITH DEEP GRATITUDE THAT WE HAVE INHERITED A VERY STABLE, REPUTABLE FOUNDATION. EVEN WITH A PANDEMIC IMPACTING THE ENTIRE WORLD, WE WERE ABLE TO STAY TRUE TO OUR MISSION OF RAISING AND AWARDING FUNDS FOR POST-SECONDARY SCHOLARSHIPS TO SIMLEY HIGH SCHOOL GRADUATES. YES, WE HAD TO MAKE CHANGES JUST LIKE THE REST OF THE WORLD. OUR VIRTUAL AWARDS CEREMONIES, A LETTER CAMPAIGN IN PLACE OF A GALA, AND ZOOM BOARD MEETINGS HAVE SERVED US WELL.THANKS TO THE GENEROSITY AND CONTINUED SUPPORT OF INDIVIDUALS, FAMILIES, BUSINESSES AND ORGANIZATIONS WE AWARDED 107 SCHOLARSHIPS WORTH $146,251. WE SELECT RECIPIENTS STARTING WITH HIGHEST DOLLAR VALUES AND WORK OUR WAY THROUGH THE LIST OF SCHOLARSHIPS. THIS PROVIDES A RECIPIENT WITH THE HIGHEST DOLLAR AMOUNT OF A SCHOLARSHIP FOR WHICH THEY QUALIFY. THEREFORE, THREE SCHOLARSHIPS DID GO UNAWARDED AS THEY DID NOT HAVE A RECIPIENT THAT MATCHED THE DONORS SCHOLARSHIP CRITERIA. DURING OUR SCHOLARSHIP PROCESS THE COMMITTEE DOES NOT KNOW THE NAMES OF THE RECIPIENTS UNTIL AFTER THE AWARDS ARE ATTACHED. WE CONTINUE TO REFINE THE PROCESS EVERY YEAR AND WORK CLOSELY WITH THE SIMLEY HIGH SCHOOL CAREER CENTER. OVER THE PAST 10 YEARS, WE HAVE SEEN THIS PROCESS BECOME VERY EFFICIENT FOR BOTH THE RECIPIENTS AND THE FOUNDATION. THE MOST RECENT CHANGE HAS BEEN WHEN THE SCHOLARSHIPS ARE DISBURSED. RECIPIENTS ARE NOW RECEIVING THEIR SCHOLARSHIP FUNDS FOR THE FIRST TERM OF THEIR POST-SECONDARY EDUCATION RATHER THAN HAVING TO COMPLETE A TERM PRIOR TO GETTING THE DISBURSEMENT. OUR PURPOSE WAS TO ENCOURAGE STUDENTS TO TAKE THAT NEXT STEP BEYOND HIGH SCHOOL AND THE FUNDS WOULD BE THERE TO SUPPORT THEM. YES, THE FUNDS ARE SENT DIRECTLY TO THE INSTITUTIONS.FUNDRAISING IS ALWAYS A CHALLENGE, BUT THE PANDEMIC THREW A NEW LEVEL OF CHALLENGE TO THIS. IN THE PAST, B.E.S.T. HAD THREE FUNDRAISERS: MAY DAY 5K, GOLF TOURNAMENT AND A GALA. SINCE FACE-TO-FACE WAS NOT AN OPTION DURING A PANDEMIC, THE FUNDRAISING COMMITTEE GOT CREATIVE. A VIRTUAL MAY DAY 5K, A LETTER GALA CAMPAIGN AND ADDING ONLINE DONATION OPTIONS FOR MEMORIALS. ITS AMAZING WHAT YOU CAN DO WHEN YOU'RE FORCED TO THINK DIFFERENTLY. IN HONORING THOSE BEFORE US, WE ARE FOREVER GRATEFUL TO JILL LEWIS AND HER WISDOM, COURAGE AND PASSION FOR ESTABLISHING THIS FOUNDATION. SHE WAS A WARRIOR WHO BUILT AN INCREDIBLE FOUNDATION THAT HAS AND WILL IMPACT THE LIVES OF MANY SIMLEY HIGH SCHOOL GRADUATES. THANK YOU, JILL! 2021 ANNUAL REPORT IS ONLINE: WWW.IGHBESTFOUNDATION.COM FOLLOW US ON FACEBOOK: IGHBESTFOUNDATION
Name (title) | Role | Hours | Compensation |
---|---|---|---|
Cindy Nordstrom President | OfficerTrustee | 10 | $0 |
Gina Wright Vice President | OfficerTrustee | 3 | $0 |
Sally Mchenry Secretary | OfficerTrustee | 3 | $0 |
Nanci Brown Treasuer | OfficerTrustee | 3 | $0 |
Joe Atkins Director | Trustee | 1 | $0 |
Emily Peterson Boone Director | Trustee | 1 | $0 |
Statement of Revenue | |
---|---|
Federated campaigns | $0 |
Membership dues | $0 |
Fundraising events | $0 |
Related organizations | $0 |
Government grants | $0 |
All other contributions, gifts, grants, and similar amounts not included above | $98,188 |
Noncash contributions included in lines 1a–1f | $0 |
Total Revenue from Contributions, Gifts, Grants & Similar | $98,188 |
Total Program Service Revenue | $0 |
Investment income | $29,128 |
Tax Exempt Bond Proceeds | $0 |
Royalties | $0 |
Net Rental Income | $0 |
Net Gain/Loss on Asset Sales | $0 |
Net Income from Fundraising Events | -$231 |
Net Income from Gaming Activities | $0 |
Net Income from Sales of Inventory | $0 |
Miscellaneous Revenue | $0 |
Total Revenue | $127,085 |
Statement of Expenses | |
---|---|
Grants and other assistance to domestic organizations and domestic governments. | $0 |
Grants and other assistance to domestic individuals. | $146,251 |
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 | $12,086 |
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 | $1,581 |
Information technology | $5,808 |
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 | $1,786 |
All other expenses | $37 |
Total functional expenses | $170,912 |
Balance Sheet | |
---|---|
Cash—non-interest-bearing | $0 |
Savings and temporary cash investments | $115,701 |
Pledges and grants receivable | $0 |
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 | $4,266 |
Net Land, buildings, and equipment | $0 |
Investments—publicly traded securities | $1,685,680 |
Investments—other securities | $0 |
Investments—program-related | $0 |
Intangible assets | $0 |
Other assets | $0 |
Total assets | $1,805,647 |
Accounts payable and accrued expenses | $0 |
Grants payable | $185,621 |
Deferred revenue | $4,025 |
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 | $189,646 |
Net assets without donor restrictions | $509,962 |
Net assets with donor restrictions | $1,106,039 |
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 | $1,805,647 |
Over the last fiscal year, we have identified 1 grants that Inver Grove Heights B E S T Foundation has recieved totaling $6,000.
Awarding Organization | Amount |
---|---|
Charities Aid Foundation America Alexandria, VA PURPOSE: CHARITABLE DONATION | $6,000 |
Beg. Balance | $1,141,901 |
Earnings | $141,131 |
Net Contributions | $76,977 |
Other Expense | $253,970 |
Ending Balance | $1,106,038 |
Organization Name | Assets | Revenue |
---|---|---|
Amaze Saint Paul, MN | $440,273 | $875,410 |
Waukee Parent-Teacher Organization Waukee, IA | $283,325 | $492,659 |
Tiger Fan Club Farmington, MN | $585,844 | $422,920 |
Rice Lake Celebrity Charity Classic Inc Rice Lake, WI | $18,015 | $254,581 |
Faith Hope And Love Global Ministries Minneapolis, MN | $298,058 | $293,794 |
Midvale Lincoln Parent Teacher Organization Inc Madison, WI | $174,864 | $372,510 |
East Ridge Parent & Staff Organization Nonprofit Saint Paul, MN | $353,198 | $233,363 |
West Marshall Community Schools Association State Center, IA | $231,488 | $232,386 |
Racine Coop Nursery School Racine, WI | $160,084 | $0 |
Titan Booster Club Inc Montgomery, MN | $166,060 | $254,021 |
Hudson Blue Line Club Inc Hudson, WI | $80,542 | $0 |
Inver Grove Heights B E S T Foundation Inver Grove Heights, MN | $1,805,647 | $127,085 |