Elim Care Foundation
- Assets
- $8.7m
- Revenue
- $606.6k
- Investments
- $0.0
- Employees
- 0
- Location
- Edina, MN
- Founding
- 10/1991
- Data as of
- 12/2021
- EIN
- 41-1694817
Organization Overview
Elim Care Foundation is located in Edina, MN. The organization was established in 1991. 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. Elim Care 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 12/2021, Elim Care Foundation generated $606.6k in total revenue. This represents a relatively dramatic decline in revenue. Over the past 3 years, the organization has seen revenues fall by an average of (14.8%) each year. All expenses for the organization totaled $2.1m during the year ending 12/2021. 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 HOLD AND INVEST NON-OPERATING INVESTMENTS OF THE ELIM CARE FAMILY OF CORPORATIONS.
Describe the Organization's Program Activity:
Part 3 - Line 4a
PRIMARILY RESPONSIBLE FOR THE LONG-TERM INVESTING OF FUNDS FOR THE AFFILIATED TAX-EXEMPT ORGANIZATIONS AND TO PROVIDE EQUITY FOR NEW PROJECTS.
Get More from Intellispect for FreeCreate a free account to get more data, nonprofit salaries, advanced search and more.
Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Robert Dahl President/ceo | Trustee | 0.01 | $0 |
Matthew Kern Chief Operating Officer | Trustee | 0.01 | $0 |
Kathy Youngquist Chief Financial Officer | Trustee | 0.01 | $0 |
Kathy Kopp Chief Strategic Officer | Trustee | 0.01 | $0 |
Angela Brown Chief Human Resource Officer | Trustee | 0.01 | $0 |
Sharon Wilson Chief Clinical And Compliance Officer | Trustee | 0.01 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Total Revenue from Contributions, Gifts, Grants & Similar | $500,000 |
| Investment income | $111,429 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $988 |
| Net Gain/Loss on Asset Sales | -$5,812 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $606,605 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic individuals. | $0 |
| 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 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 | $3,500 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $15 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $8,454 |
| Fees for services: Other | $0 |
| Advertising and promotion | $0 |
| Office expenses | $0 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $1,214 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $3,060 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $2,995 |
| All other expenses | $0 |
| Total functional expenses | $2,135,659 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $2,032,619 |
| Savings and temporary cash investments | $938,528 |
| 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 | $450,000 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $48 |
| Investments—publicly traded securities | $3,737,961 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $787,416 |
| Total assets | $8,740,383 |
| Accounts payable and accrued expenses | $0 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| 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 | $77,129 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $4,908,390 |
| Total liabilities | $4,985,519 |
| Net assets without donor restrictions | $3,095,584 |
| Net assets with donor restrictions | $659,280 |
| Capital stock or trust principal, or current funds | $0 |
| Paid-in or capital surplus, or land, building, or equipment fund | $0 |
| Total liabilities and net assets/fund balances | $3,754,864 |
Grants Awarded
Over the last fiscal year, Elim Care Foundation has awarded $1,578,200 in support to 2 organizations.
| Grant Recipient | Amount |
|---|---|
EVANGELICAL REITREMENT HOUSE INC PURPOSE: TRANSFER TO AFFILIATE | $1,168,200 |
NEWTON VILLAGE INC PURPOSE: TRANSFER TO AFFILIATE | $410,000 |