Mount Saint Benedict Foundation
- Assets
- $13.0m
- Revenue
- $5.8m
- Investments
- $0.0
- Employees
- 0
- Location
- Crookston, MN
- Founding
- 02/1996
- Data as of
- 06/2022
- EIN
- 41-1813425
Organization Overview
Mount Saint Benedict Foundation is located in Crookston, MN. The organization was established in 1996. According to its NTEE Classification (T99) the organization is classified as: Philanthropy, Voluntarism & Grantmaking Foundations N.E.C., 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. Mount Saint Benedict 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 06/2022, Mount Saint Benedict Foundation generated $5.8m in total revenue. This organization has experienced exceptional growth, as over the past 7 years, it has increased revenue by an average of 35.3% each year . All expenses for the organization totaled $708.8k during the year ending 06/2022. While expenses have increased by 7.3% per year over the past 7 years. They've been increasing with an increasing level of total revenue. You can explore the organizations financials more deeply in the financial statements section below.
Since 2016, Mount Saint Benedict Foundation has awarded 62 individual grants totaling $2,067,192. 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
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2022
Describe the Organization's Mission:
Part 3 - Line 1
FINANCIAL DEVELOPMENT AND FURTHERANCE OF THE PURPOSES OF THE SISTERS OF ST. BENEDICT AND SIMILAR PROJECTS DESIGNED TO ASSIST THEIR WORK.
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE PURPOSE OF THE FOUNDATION IS PRIMARILY TO RAISE FUNDS FOR THE BENEFIT OF SISTERS OF ST. BENEDICT OF CROOKSTON AND ITS AFFILIATES.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Sister Jane Becker President | OfficerTrustee | 1 | $0 |
Sister Myra Schmieg Treasurer | OfficerTrustee | 1 | $0 |
Sister Kathy Kuchar Secretary | OfficerTrustee | 1 | $0 |
Heidi Whiting Foundation Director | Officer | 40 | $0 |
Kevin Yaggie Board Member | Trustee | 1 | $0 |
Jack Robertson Board Member | Trustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $199,970 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $199,970 |
| Total Program Service Revenue | $0 |
| Investment income | $555,410 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $5,008,554 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $5,763,934 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $591,287 |
| Grants and other assistance to domestic individuals. | $0 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $49,409 |
| Pension plan accruals and contributions | $3,812 |
| Other employee benefits | $3,142 |
| Payroll taxes | $3,742 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $6,716 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $14,636 |
| Fees for services: Other | $0 |
| Advertising and promotion | $17,547 |
| Office expenses | $9,461 |
| Information technology | $4,850 |
| Royalties | $0 |
| Occupancy | $2,400 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $679 |
| All other expenses | $0 |
| Total functional expenses | $708,841 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $81,078 |
| Savings and temporary cash investments | $386,025 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $0 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $0 |
| Net Land, buildings, and equipment | $0 |
| Investments—publicly traded securities | $12,322,185 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $215,142 |
| Total assets | $13,004,430 |
| Accounts payable and accrued expenses | $64,157 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| Tax-exempt bond liabilities | $0 |
| Escrow or custodial account liability | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $0 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $48,362 |
| Total liabilities | $112,519 |
| Net assets without donor restrictions | $12,755,033 |
| Net assets with donor restrictions | $136,878 |
| Capital stock or trust principal, or current funds | $0 |
| Paid-in or capital surplus, or land, building, or equipment fund | $0 |
| Retained earnings, endowment, accumulated income, or other funds | $0 |
| Total liabilities and net assets/fund balances | $13,004,430 |
Grants Awarded
Over the last fiscal year, Mount Saint Benedict Foundation has awarded $589,787 in support to 10 organizations.
| Grant Recipient | Amount |
|---|---|
Crookston, MN PURPOSE: GRANT FOR SISTERS NEEDS | $150,000 |
Minneapolis, MN PURPOSE: GRANT FOR MOMMOTH UNIT REPLACEMENT | $150,000 |
Mahnomen, MN PURPOSE: GRANT FOR ADOPT-A-STUDENT SCHOLARSHIP FUND | $64,787 |
Crookston, MN PURPOSE: GRANT FOR EVANGELIZATION PROJECTS AND THEOLOGY CURRICULUM | $60,000 |
Thief Rvr Fls, MN PURPOSE: GRANT FOR PLAYGROUND SYSTEM EQUIPMENT | $40,000 |
ST MARY'S MISSION SCHOOL PURPOSE: GRANT FOR READING SPECIALIST | $40,000 |
Grants Recieved
Over the last fiscal year, we have identified 1 grants that Mount Saint Benedict Foundation has recieved totaling $20,000.
| Awarding Organization | Amount |
|---|---|
East Bay Community Foundation Oakland, CA PURPOSE: THE SISTERS OF SAINT BENEDICT | $20,000 |
Endowment Analysis
| Beg. Balance | $103,460 |
| Net Contributions | $12,712 |
| Grants | $50,000 |
| Ending Balance | $66,172 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Sibley Medical Center Arlington, MN | $31,684,088 | $18,300,359 |
Be The Match Foundation Minneapolis, MN | $21,284,478 | $21,167,274 |
The Burke Foundation Inc Milwaukee, WI | $121,362,007 | $6,169,378 |
Stratis Health Minneapolis, MN | $5,273,023 | $5,800,389 |
Saint Therese St Louis Park, MN | $14,478,951 | $6,726,617 |
Vine And Branches Foundation Inc Brookfield, WI | $8,641,827 | $2,521,561 |
Association Of State Floodplain Managers Inc Madison, WI | $3,465,086 | $3,791,524 |
Hope Haven Support Foundation Rock Valley, IA | $16,499,629 | $3,667,660 |
Butler Family Foundation Dubuque, IA | $48,442,192 | $3,565,783 |
The Lifespace Foundation West Des Moines, IA | $10,594,688 | $4,860,714 |
Realty Holdings Inc Of The Quad Cities Community Foundation Bettendorf, IA | $2,330,664 | $13,430 |
Guardian Angels Of Elk River Inc Elk River, MN | $19,468,009 | $4,444,472 |