Iv Foundation
- Assets
- $779.1k
- Revenue
- $52.1k
- Investments
- $717.4k
- Employees
- 0
- Location
- Excelsior, MN
- Founding
- 06/1996
- Data as of
- 12/2021
- EIN
- 41-1796849
Organization Overview
Iv Foundation is located in Excelsior, MN. The organization was established in 1996. According to its NTEE Classification (B70) the organization is classified as: Libraries, under the broad grouping of Education and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Iv 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 12/2021, Iv Foundation generated $52.1k in total revenue. The organization has seen a slow decline revenue. Over the past 7 years, revenues have fallen by an average of (0.8%) each year. All expenses for the organization totaled $52.6k during the year ending 12/2021. As we would expect to see with falling revenues, expenses have declined by (5.0%) per year over the past 7 years. You can explore the organizations financials more deeply in the financial statements section below.
Since 2016, Iv Foundation has awarded 47 individual grants totaling $224,000. 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
2021
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 |
|---|---|---|---|
Karen Petersen President | 0 | $0 | |
Pam Petersen-Soltau Board Member | 0 | $0 | |
Anna Herzog Board Member | 0 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $0 |
| Interest on Savings | $28 |
| Dividends & Interest | $30,746 |
| Net Rental Income | $0 |
| Net Gain on Sale of Assets | $21,289 |
| Capital Gain Net Income | $21,289 |
| Net ST Capital Gain | $0 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $0 |
| Other Income | $0 |
| Total Revenue | $52,063 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $0 |
| Other employee salaries and wages | $0 |
| Pension plans, employee benefits | $0 |
| Interest | $0 |
| Taxes | $430 |
| Depreciation | $0 |
| Occupancy | $0 |
| Travel, conferences, and meetings | $0 |
| Printing and publications | $0 |
| Other expenses | $34 |
| Total operating and administrative expenses | $6,576 |
| Contributions, gifts, grants paid | $46,000 |
| Total expenses and disbursements | $52,576 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $61,192 |
| Savings and temporary cash investments | $532 |
| 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 | $717,352 |
| Net Land, buildings, and equipment | $0 |
| Other assets | $0 |
| Total assets | $779,076 |
| 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 | $1,295 |
| Total liabilities | $1,295 |
Grants Awarded
Over the last fiscal year, Iv Foundation has awarded $46,000 in support to 9 organizations.
| Grant Recipient | Amount |
|---|---|
ICA FOOD SHELF PURPOSE: FOOD SHELF | $6,000 |
CHILDREN'S MINNESOTA FOUNDATION PURPOSE: MEDICAL CARE | $5,000 |
CHARLOTTE COUNTY HOMELESS COALITION PURPOSE: GENERAL SUPPORT FOR THE HOMELESS | $5,000 |
DOCTORS WITHOUT BORDERS PURPOSE: MEDICAL CARE | $5,000 |
CARE VICTIM SERVICES CENTER PURPOSE: SERVICES AND AID TO SURVIVORS | $5,000 |
HABITAT FOR HUMANITY PURPOSE: GENERAL FUND SUPPORT | $5,000 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Arrowhead Library System Mountain Iron, MN | $7,916,564 | $3,392,560 |
Little Free Library Ltd St Paul, MN | $2,366,645 | $3,222,101 |
The Charlemagne Institute Bloomington, MN | $4,134,253 | $802,178 |
Traverse Des Sioux Library System Mankato, MN | $2,660,505 | $1,793,930 |
Hoover Presidential Foundation West Branch, IA | $16,155,016 | $4,574,597 |
Mary T And James J Hill Library Foundation St Paul, MN | $19,858,073 | $1,320,140 |
Casa Alba Melanie Hispanic Community Resource Center Of Green Green Bay, WI | $2,058,613 | $776,990 |
Iowa City Public Library Friends Foundation Iowa City, IA | $2,098,660 | $390,519 |
Maquoketa Library Corporation Maquoketa, IA | $2,024,711 | -$199,263 |
Duluth Library Foundation Duluth, MN | $1,948,980 | $685,085 |
Action Resource Center Stanley, ND | $94,885 | $266,773 |
Iowa Library Association West Des Moines, IA | $265,432 | $0 |