Sabes Family Foundation
- Assets
- $2.6m
- Revenue
- $216.1k
- Investments
- $1.2m
- Employees
- 0
- Location
- Minnetonka, MN
- Founding
- 11/1991
- Data as of
- 12/2022
- EIN
- 41-1699714
Organization Overview
Sabes Family Foundation is located in Minnetonka, MN. The organization was established in 1991. According to its NTEE Classification (T20) the organization is classified as: Private Grantmaking 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. Sabes Family 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 12/2022, Sabes Family Foundation generated $216.1k in total revenue. This represents a relatively dramatic decline in revenue. Over the past 4 years, the organization has seen revenues fall by an average of (19.6%) each year. All expenses for the organization totaled $21.5k during the year ending 12/2022. As we would expect to see with falling revenues, expenses have declined by (42.3%) per year over the past 4 years. 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
2022
Describe the Organization's Program Activity:
Part 3 - Line 4a
NOT APPLICABLE
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Robert Sabes Trustee | 1 | $0 | |
Jon Sabes Trustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $60 |
| Interest on Savings | $0 |
| Dividends & Interest | $35,138 |
| Net Rental Income | $0 |
| Net Gain on Sale of Assets | $180,506 |
| Capital Gain Net Income | $180,506 |
| Net ST Capital Gain | $0 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $0 |
| Other Income | $372 |
| Total Revenue | $216,076 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $0 |
| Other employee salaries and wages | $0 |
| Pension plans, employee benefits | $0 |
| Interest | $0 |
| Taxes | $25 |
| Depreciation | $0 |
| Occupancy | $0 |
| Travel, conferences, and meetings | $0 |
| Printing and publications | $0 |
| Other expenses | $508 |
| Total operating and administrative expenses | $16,705 |
| Contributions, gifts, grants paid | $4,800 |
| Total expenses and disbursements | $21,505 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $1,377,827 |
| 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 | $1,208,308 |
| Net Land, buildings, and equipment | $0 |
| Other assets | $0 |
| Total assets | $2,586,135 |
| Accounts payable and accrued expenses | $202 |
| 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 | $202 |
Grants Awarded
Over the last fiscal year, Sabes Family Foundation has awarded $4,800 in support to 6 organizations.
| Grant Recipient | Amount |
|---|---|
MGA SCHOLARSHIP FUND PURPOSE: CHARITABLE | $500 |
ALLINA HEALTH CANCER INSTITUTE PURPOSE: CHARITABLE | $1,200 |
OPERATION HOMEFRONT NEVADA PURPOSE: RED ROCK GOLF CLASSIC | $1,000 |
STILLWATER AREA HOCKEY ASSOCIATION PURPOSE: GENERAL OPERATIONS | $1,000 |
THE ISRAEL BRIDGE PURPOSE: CHARITABLE | $1,000 |
TWIN CITIES PBS PURPOSE: CHARITABLE | $100 |