Elim Care Foundation
- Assets
- $7.9m
- Revenue
- $1.4m
- Investments
- $0.0
- Employees
- 0
- Location
- Edina, MN
- Founding
- 10/1991
- Data as of
- 12/2020
- 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 12/2020, Elim Care Foundation generated $1.4m in total revenue. This organization has experienced exceptional growth, as over the past 6 years, it has increased revenue by an average of 41.6% each year . All expenses for the organization totaled $393.9k during the year ending 12/2020. While expenses have increased by 20.9% per year over the past 6 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
2020
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.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Rev Ken Gooden Director And Secretary/treasurer | OfficerTrustee | 0.25 | $0 |
Jan Larson Director And Vice Chairperson | OfficerTrustee | 0.25 | $0 |
Robert Prentiss Director And Chairperson | OfficerTrustee | 0.25 | $0 |
Robert Dahl President/ceo | Officer | 0.01 | $0 |
Kathy Youngquist Chief Financial Officer | Officer | 0.01 | $0 |
Matthew Kern Chief Operating Officer | Officer | 0.01 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Total Revenue from Contributions, Gifts, Grants & Similar | $900,000 |
| Investment income | $113,131 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $834 |
| Net Gain/Loss on Asset Sales | $369,351 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $1,383,316 |
| 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 | $2,940 |
| Fees for services: Legal | $1,906 |
| Fees for services: Accounting | $58 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $16,371 |
| Fees for services: Other | $0 |
| Advertising and promotion | $0 |
| Office expenses | $0 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $1,098 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $4,258 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $2,752 |
| All other expenses | $0 |
| Total functional expenses | $393,908 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $471,754 |
| Savings and temporary cash investments | $781,925 |
| 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 | $736,250 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $252 |
| Investments—publicly traded securities | $3,038,568 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $2,056,393 |
| Total assets | $7,878,953 |
| Accounts payable and accrued expenses | $147,000 |
| 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 | $97,465 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $2,226,292 |
| Total liabilities | $2,470,757 |
| Net assets without donor restrictions | $0 |
| Net assets with donor restrictions | $0 |
| 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 | $5,408,196 |
Grants Awarded
Over the last fiscal year, Elim Care Foundation has awarded $1,751,105 in support to 4 organizations.
| Grant Recipient | Amount |
|---|---|
Edina, MN PURPOSE: TRANSFER TO AFFILIATE | $1,351,105 |
Edina, MN PURPOSE: TRANSFER TO AFFILIATE | $285,000 |
Edina, MN PURPOSE: TRANSFER TO AFFILIATE | $95,000 |
Edina, MN PURPOSE: TRANSFER TO AFFILIATE | $20,000 |
Grants Recieved
Over the last fiscal year, we have identified 1 grants that Elim Care Foundation has recieved totaling $500,000.
| Awarding Organization | Amount |
|---|---|
Elim Homes Inc Edina, MN PURPOSE: TRANSFER TO AFFILIATE | $500,000 |
Endowment Analysis
| Beg. Balance | $33,968 |
| Earnings | -$3,022 |
| Admin Expense | $3,291 |
| Net Contributions | $638,409 |
| Other Expense | $6,785 |
| Ending Balance | $659,279 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Wacosa Waite Park, MN | $12,140,309 | $9,104,818 |
World Food Prize Foundation Urbandale, IA | $73,712,928 | $6,192,203 |
Chipstone Foundation Milwaukee, WI | $75,856,336 | $12,810,541 |
Johnson Foundation Inc Racine, WI | $58,249,744 | $4,338,703 |
Jeffers Foundation Plymouth, MN | $13,209,879 | $451,010 |
Childrens Museum Of South Dakota Brookings, SD | $7,565,049 | $1,438,522 |
Belwin Conservancy Afton, MN | $13,948,042 | $1,506,492 |
Miracle Ear Foundation Minneapolis, MN | $1,565,051 | $1,538,911 |
On His Path Danville, IA | $274,871 | $641,163 |
Ann Smeltzer Charitable Tr Fort Dodge, IA | $9,572,816 | $1,083,917 |
St Johns Elderly Housing Corporation Eau Claire, WI | $4,250,998 | $912,893 |
Farming For The Future Foundtn Inc Hancock, WI | $15,517,922 | $9,948,061 |