Best Buy Foundation
- Assets
- $61.0m
- Revenue
- $22.3m
- Investments
- $0.0
- Employees
- 0
- Location
- Richfield, MN
- Founding
- 06/1995
- Data as of
- 03/2024
- EIN
- 41-1784382
Organization Overview
Best Buy Foundation is located in Richfield, MN. The organization was established in 1995. According to its NTEE Classification (T70) the organization is classified as: Federated Giving Programs, 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. Best Buy 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 03/2024, Best Buy Foundation generated $22.3m 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 (17.2%) each year. All expenses for the organization totaled $19.8m during the year ending 03/2024. 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
2024
Describe the Organization's Program Activity:
Part 3 - Line 4a
N/A
Get More from Intellispect for FreeCreate a free account to get more data, nonprofit salaries, advanced search and more.
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $19,416,064 |
| Interest on Savings | $2,861,054 |
| 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 | $0 |
| Total Revenue | $22,277,118 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $0 |
| Other employee salaries and wages | $0 |
| Pension plans, employee benefits | $0 |
| Interest | $0 |
| Taxes | $73,000 |
| Depreciation | $0 |
| Occupancy | $0 |
| Travel, conferences, and meetings | $0 |
| Printing and publications | $0 |
| Other expenses | $6,263,374 |
| Total operating and administrative expenses | $6,336,374 |
| Contributions, gifts, grants paid | $13,458,232 |
| Total expenses and disbursements | $19,794,606 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $3,030,334 |
| Savings and temporary cash investments | $52,236,323 |
| Net Accounts receivable | $4,790,040 |
| 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 | $86,224 |
| Net Investments - land, buildings, equipment | $0 |
| Investments—mortgage loans | $0 |
| Investments—other | $0 |
| Net Land, buildings, and equipment | $0 |
| Other assets | $823,790 |
| Total assets | $60,966,711 |
| Accounts payable and accrued expenses | $62,886 |
| Grants payable | $270,000 |
| Deferred revenue | $1,500 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Mortgages and other notes payable | $0 |
| Other liabilities | $0 |
| Total liabilities | $334,386 |