Miracle Ear Foundation
- Assets
- $1.5m
- Revenue
- $1.7m
- Investments
- $0.0
- Employees
- 0
- Location
- Minneapolis, MN
- Founding
- 09/2014
- Data as of
- 12/2023
- EIN
- 41-1677967
Organization Overview
Miracle Ear Foundation is located in Minneapolis, MN. The organization was established in 2014. According to its NTEE Classification (T23) the organization is classified as: Private Operating 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. Miracle Ear 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, Miracle Ear Foundation generated $1.7m in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 5.4% each year. All expenses for the organization totaled $1.8m during the year ending 12/2023. While expenses have increased by 9.8% 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
990PF
Mission & Program ActivityExcerpts From the 990PF Filing
TAX YEAR
2023
Describe the Organization's Program Activity:
Part 3 - Line 4a
GIFT OF SOUND PROGRAM - INCLUDES PROVIDING HEARING HEALTH SERVICES TO ADULTS AND CHILDREN IN NORTH AMERICA. THESE SERVICES INCLUDE HEARING SCREENINGS, FITTING HEARING AIDS TO QUALIFIED CANDIDATES, ADDITIONAL ACCESSORIES AS NEEDED FOR CHILDREN UP TO AGE 18 FOR SCHOOL PURPOSES, AND LIFETIME AFTER CARE SERVICES.
THE DAY WITHOUT SOUND PROGRAM - ACTIVITIES INCLUDE EDUCATION ABOUT NOISE-INDUCED HEARING LOSS, RESOURCES ON PROTECTING HEARING, AND DISTRIBUTION OF HEARING PROTECTION.
MIRACLE MISSIONS - DOMESTIC HEARING AND DELIVERY MISSIONS TO LOW INCOME INDIVIDUALS WHO FIT THE GIFT OF SOUND CRITERIA IN SPECIFIC MARKETS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Jenni Hargraves Executive Director | 40 | $223,406 | |
Alessandro Bonacina President | 1 | $0 | |
Steve Mergiotti Treasurer | 1 | $0 | |
Sara Gorsuch Secretary | 1 | $0 | |
Marco Casale Director | 1 | $0 | |
Todd Lau Director | 1 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Enpointe | 12/30/23 | $61,456 |
Bellmont Partners | 12/30/23 | $58,593 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $960,569 |
| Interest on Savings | $0 |
| 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 | $752,178 |
| Total Revenue | $1,712,747 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $265,329 |
| Other employee salaries and wages | $234,055 |
| Pension plans, employee benefits | $44,751 |
| Interest | $0 |
| Taxes | $34,320 |
| Depreciation | $0 |
| Occupancy | $0 |
| Travel, conferences, and meetings | $76,062 |
| Printing and publications | $34,399 |
| Other expenses | $370,412 |
| Total operating and administrative expenses | $1,101,087 |
| Contributions, gifts, grants paid | $715,745 |
| Total expenses and disbursements | $1,816,832 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $1,201,048 |
| Savings and temporary cash investments | $0 |
| Net Accounts receivable | $246,731 |
| 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 | $28,850 |
| Prepaid expenses and deferred charges | $14,660 |
| Net Investments - land, buildings, equipment | $0 |
| Investments—mortgage loans | $0 |
| Investments—other | $0 |
| Net Land, buildings, and equipment | $0 |
| Other assets | $0 |
| Total assets | $1,491,289 |
| Accounts payable and accrued expenses | $472,430 |
| 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 | $472,430 |