Minnesota Colon And Rectal Foundation
- Assets
- $3.6m
- Revenue
- $176.3k
- Investments
- $3.6m
- Employees
- 0
- Location
- Minneapolis, MN
- Founding
- 01/1992
- Data as of
- 06/2023
- EIN
- 41-1697334
Organization Overview
Minnesota Colon And Rectal Foundation is located in Minneapolis, MN. The organization was established in 1992. According to its NTEE Classification (H99) the organization is classified as: Medical Research N.E.C., under the broad grouping of Medical Research and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Minnesota Colon And Rectal 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 06/2023, Minnesota Colon And Rectal Foundation generated $176.3k in total revenue. This represents a relatively dramatic decline in revenue. Over the past 8 years, the organization has seen revenues fall by an average of (9.2%) each year. All expenses for the organization totaled $257.0k during the year ending 06/2023. You can explore the organizations financials more deeply in the financial statements section below.
Since 2022, Minnesota Colon And Rectal Foundation has awarded 12 individual grants totaling $351,000. If you would like to learn more about the grant giving history of this organization, scroll down to the grant profile section of this page.
Form
990PF
Mission & Program ActivityExcerpts From the 990PF Filing
TAX YEAR
2023
Describe the Organization's Mission:
Part 3 - Line 1
IMPROVE COLORECTAL HEALTH WITH EDUCATION, OUTREACH, RESEARCH & SPECIALIZED PHYSICIAN TRAINING
Describe the Organization's Program Activity:
Part 3 - Line 4a
MINNESOTA COLON AND RECTAL FOUNDATION (MCRF), IN COORDINATION WITH THE UNIVERSITY OF MINNESOTA DEPARTMENT OF SURGERY, SUPPORTS AN ANNUAL COLON AND RECTAL SURGERY CONFERENCE HELD IN NOVEMBER 2019 IN MINNEAPOLIS. THE CONFERENCE ATTACTS HUNDREDS OF PHYSICIANS FROM ALL OVER THE WORLD AND PROVIDES CONTINUING EDUCATION REGARDING DIAGNOSTIC AND SURGICAL PROCEDURES.
MINNESOTA COLON AND RECTAL FOUNDATION CONTINUES TO ACTIVELY PURSUE RESEARCH PROJECTS AND DATA COLLECTION THAT WILL POSITIVELY IMPACT THE LIVES OF PATIENTS WITH COLORECTAL CANCER AND OTHER COLORECTAL DISORDERS THROUGH THE SUPPORT OF THE PHYSCIANS OF THE COLON AND RECTAL SURGERY ASSOCIATES.
MINNESOTA COLON AND RECTAL FOUNDATION CONTINUES TO SUPPORT THE EDUCATIONAL EXPENSES OF SELECTED SURGICAL FELLOWS TO THE COLORECTAL RESIDENCY PROGRAM AT THE UNIVERSITY OF MINNESOTA. THIS SUPPORT MAY INCLUDE THE DIRECT TRAINING OF PHYSICIANS, TRAVEL, TRAINING MATERIALS AND OTHER EDUCATIONAL OPPORTUNITIES THROUGHOUT THE YEAR. FELLOWS ARE ALSO GIVEN AN OPPORTUNITY TO ATTEND SPECIALTY TRAINING WORKSHOPS AND ARE ALSO PROVIDED VARIOUS BOOKS ADN EDUCATIONAL MATERIALS PURSUANT TO ADVANCED ENDOSCOPIC, LAPAROSCOPIC AND TRANSMISSION ELECTRON MICROSCOPY (TEM) TRAINING.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Michael Spencer Chairman/ceo | 1 | $0 | |
Mark Sun Secretary/treasurer | 0.5 | $0 | |
Christopher Chow Director | 0.2 | $0 | |
Stanley Goldberg Director | 0.2 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $10,676 |
| Interest on Savings | $0 |
| Dividends & Interest | $61,018 |
| Net Rental Income | $0 |
| Net Gain on Sale of Assets | $100,020 |
| Capital Gain Net Income | $100,020 |
| Net ST Capital Gain | $0 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $0 |
| Other Income | $4,620 |
| Total Revenue | $176,334 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $0 |
| Other employee salaries and wages | $0 |
| Pension plans, employee benefits | $0 |
| Interest | $0 |
| Taxes | $7,469 |
| Depreciation | $0 |
| Occupancy | $0 |
| Travel, conferences, and meetings | $0 |
| Printing and publications | $0 |
| Other expenses | $20,152 |
| Total operating and administrative expenses | $75,982 |
| Contributions, gifts, grants paid | $181,000 |
| Total expenses and disbursements | $256,982 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $20,113 |
| Savings and temporary cash investments | $30,074 |
| Net Accounts receivable | $0 |
| 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 | $0 |
| Prepaid expenses and deferred charges | $0 |
| Net Investments - land, buildings, equipment | $0 |
| Investments—mortgage loans | $0 |
| Investments—other | $0 |
| Net Land, buildings, and equipment | $0 |
| Other assets | $8,600 |
| Total assets | $3,619,145 |
| Accounts payable and accrued expenses | $10,063 |
| 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 | $17,978 |
| Total liabilities | $28,041 |
Grants Awarded
Over the last fiscal year, Minnesota Colon And Rectal Foundation has awarded $181,000 in support to 5 organizations.
| Grant Recipient | Amount |
|---|---|
TWIN CITIES ORTHOPEDICS FOUNDATION PURPOSE: EDUCATION | $25,000 |
UNIVERSITY OF MN PURPOSE: RESEARCH | $100,000 |
UNIVERSITY OF MN PURPOSE: EDUCATION | $5,500 |
PARK NICOLETTE FOUNDATION PURPOSE: RESEARCH | $25,000 |
RANDY SHAVER CANCER RESEARCH COMMUNITY FUND PURPOSE: RESEARCH | $25,500 |