Bakken Family Wrc Foundation
- Assets
- $18.4m
- Revenue
- -$145.3k
- Investments
- $17.2m
- Employees
- 0
- Location
- Minneapolis, MN
- Founding
- 09/1996
- Data as of
- 12/2022
- EIN
- 41-1796283
Organization Overview
Bakken Family Wrc Foundation is located in Minneapolis, MN. The organization was established in 1996. 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. Bakken Family Wrc Foundation is a 501(c)(3) and as such, is described as a "Charitable or Religous organization or a private foundation" by the IRS.
Since 2020, Bakken Family Wrc Foundation has awarded 94 individual grants totaling $3,392,500. 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.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Jeffrey Bakken Secretary | 1 | $0 | |
Wendy K Watson Vice President | 1 | $0 | |
Bradley Bakken Treasurer | 1 | $0 | |
Pamela B Petersmeyer President | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $220,285 |
| Interest on Savings | $0 |
| Dividends & Interest | $368,159 |
| Net Rental Income | $0 |
| Net Gain on Sale of Assets | -$733,903 |
| Capital Gain Net Income | $0 |
| Net ST Capital Gain | $0 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $0 |
| Other Income | $170 |
| Total Revenue | -$145,289 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $0 |
| Other employee salaries and wages | $0 |
| Pension plans, employee benefits | $0 |
| Interest | $0 |
| Taxes | $42,068 |
| Depreciation | $0 |
| Occupancy | $0 |
| Travel, conferences, and meetings | $0 |
| Printing and publications | $0 |
| Other expenses | $25 |
| Total operating and administrative expenses | $125,193 |
| Contributions, gifts, grants paid | $1,192,500 |
| Total expenses and disbursements | $1,317,693 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $1,197,678 |
| 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 | $0 |
| Total assets | $18,386,057 |
| Accounts payable and accrued expenses | $0 |
| 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 | $0 |
Grants Awarded
Over the last fiscal year, Bakken Family Wrc Foundation has awarded $1,192,500 in support to 35 organizations.
| Grant Recipient | Amount |
|---|---|
ALLINA HEALTH FOUNDATION PURPOSE: GENERAL SUPPORT | $40,000 |
ALS ASSOCIATION PURPOSE: GENERAL SUPPORT | $10,000 |
ALZHEIMERS ASSOCIATION OF MINNESOTA PURPOSE: GENERAL SUPPORT | $25,000 |
AMERICAN RED CROSS PURPOSE: GENERAL SUPPORT | $10,000 |
ASPCA PURPOSE: GENERAL SUPPORT | $10,000 |
ATTACH PURPOSE: GENERAL SUPPORT | $20,000 |