Minnesota Military Family Foundation
- Assets
- $9.1m
- Revenue
- $1.4m
- Investments
- $0.0
- Employees
- 0
- Location
- Golden Valley, MN
- Founding
- 07/1996
- Data as of
- 12/2021
- EIN
- 41-1815585
Organization Overview
Minnesota Military Family Foundation is located in Golden Valley, MN. The organization was established in 1996. According to its NTEE Classification (T31) the organization is classified as: Community 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. Minnesota Military 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 12/2021, Minnesota Military Family Foundation generated $1.4m in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 8.5% each year. All expenses for the organization totaled $354.7k during the year ending 12/2021. While expenses have increased by 3.2% 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.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2021
Describe the Organization's Mission:
Part 3 - Line 1
TO PROVIDE FINANCIAL SUPPORT TO MEMBERS OF THE NATIONAL GUARD AND ARMED FORCES.
Describe the Organization's Program Activity:
Part 3 - Line 4a
MINNESOTA MILITARY FAMILY FOUNDATION (THE FOUNDATION) IS A COMMUNITY-SUPPORTED FUND FOUNDED IN NOVEMBER 2004. CONTRIBUTIONS ARE MADE BY PEOPLE WHO UNDERSTAND THAT THERE ARE MANY SACRIFICES THAT MILITARY FAMILIES MAKE AND WANT TO HELP SOFTEN THE FINANCIAL HARDSHIPS THAT MAY OCCUR, ESPECIALLY WHEN A FAMILY MEMBER IS DEPLOYED, BY PROVIDING A FINANCIAL SAFETY NET. THE FOUNDATION DISTRIBUTES MONEY, THROUGH GRANTS, TO MINNESOTA MILITARY FAMILIES THAT NEED HELP. THE FOUNDATION WORKS CLOSELY WITH THE SOLDIER AND FAMILY READINESS SPECIALISTS (SFRS). THE SFRS COMMUNICATES DIRECTLY WITH MILITARY MEMBERS AND THEIR FAMILIES. THEY DIRECT REQUEST TO THE FOUNDATION AND PROVIDE DETAILS OF THE SERVICE MEMBERS' FINANCIAL NEEDS. THE FOUNDATION PAYS MORTGAGE PAYMENTS, RENTS, UTILITIES, CAR PAYMENTS, MEDICAL BILLS AND OTHER NEEDS ON BEHALF OF THE SERVICE MEMBERS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Jon Trost Vice President | OfficerTrustee | 4 | $0 |
Susan Kennedy Treasurer | OfficerTrustee | 16 | $0 |
Bill Popp President | OfficerTrustee | 3 | $0 |
Tim Kennedy Secretary/executive Director | Officer | 15 | $0 |
Dennis Angell Director | Trustee | 3 | $0 |
David Hamlar Director | Trustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $269,357 |
| Related organizations | $0 |
| Government grants | $249,283 |
| All other contributions, gifts, grants, and similar amounts not included above | $627,031 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $1,145,671 |
| Total Program Service Revenue | $0 |
| Investment income | $184,359 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $110,616 |
| Net Income from Fundraising Events | -$7,801 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $1,432,845 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $330,559 |
| 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 | $0 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $0 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $3,701 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $15,797 |
| Fees for services: Other | $0 |
| Advertising and promotion | $0 |
| Office expenses | $4,684 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $0 |
| 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 | $0 |
| All other expenses | $0 |
| Total functional expenses | $354,741 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $351,021 |
| Savings and temporary cash investments | $0 |
| 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 | $8,702,369 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $9,053,390 |
| Accounts payable and accrued expenses | $0 |
| Grants payable | $0 |
| Deferred revenue | $13,377 |
| 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 | $7,767 |
| Other liabilities | $0 |
| Total liabilities | $21,144 |
| Net assets without donor restrictions | $9,032,246 |
| Net assets with donor restrictions | $0 |
| 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 | $9,053,390 |
Grants Recieved
Over the last fiscal year, we have identified 1 grants that Minnesota Military Family Foundation has recieved totaling $10,000.
| Awarding Organization | Amount |
|---|---|
Kendrick B Melrose Family Foundation Plymouth, MN PURPOSE: GENERAL PURPOSE | $10,000 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Greater Milwaukee Foundation Inc Milwaukee, WI | $1,114,706,959 | $151,763,598 |
Thrivent Charitable Impact & Investing Appleton, WI | $809,708,853 | $138,812,775 |
Community Fdn Of Greater Des Moines Des Moines, IA | $756,930,676 | $144,988,273 |
Greater Green Bay Community Foundation Inc Green Bay, WI | $158,723,657 | $42,186,646 |
Community Foundation For The Fox Valley Region Inc Appleton, WI | $500,269,949 | $60,999,391 |
Madison Community Foundation Madison, WI | $285,628,719 | $40,248,600 |
Sioux Falls Area Community Foundation Inc Sioux Falls, SD | $264,068,911 | $59,923,672 |
Catholic Community Foundation Of Minnesota St Paul, MN | $510,001,439 | $72,097,381 |
Communitygiving St Cloud, MN | $193,103,222 | $46,523,540 |
Quad Cities Community Foundation Bettendorf, IA | $165,771,747 | $15,098,956 |
Greater Cedar Rapids Community Foundation Cedar Rapids, IA | $223,368,352 | $26,493,454 |
3m Open Fund Blaine, MN | $2,792,523 | $13,492,516 |