Patch Foundation
- Assets
- $5.4m
- Revenue
- $254.3k
- Investments
- $4.2m
- Employees
- 0
- Location
- Minneapolis, MN
- Founding
- 05/1997
- Data as of
- 12/2022
- EIN
- 41-1873951
Organization Overview
Patch Foundation is located in Minneapolis, MN. The organization was established in 1997. According to its NTEE Classification (T90) the organization is classified as: Named Trusts 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. Patch 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 12/2022, Patch Foundation generated $254.3k in total revenue. This represents a relatively dramatic decline in revenue. Over the past 8 years, the organization has seen revenues fall by an average of (33.9%) each year. All expenses for the organization totaled $1.1m during the year ending 12/2022. You can explore the organizations financials more deeply in the financial statements section below.
Since 2016, Patch Foundation has awarded 336 individual grants totaling $7,950,900. 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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PDF Copies of 990 Filings
Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Carolyn Sample President | 2 | $0 | |
William C Peterson Thru 0422 Director | 0.5 | $0 | |
Ronald K Draper Director | 0.5 | $0 | |
Ernest Lindstrom-Lindstrom Law Offi Director | 0.5 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $20,000 |
| Interest on Savings | $953 |
| Dividends & Interest | $185,340 |
| Net Rental Income | $0 |
| Net Gain on Sale of Assets | $48,034 |
| Capital Gain Net Income | $48,034 |
| Net ST Capital Gain | $0 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $0 |
| Other Income | $0 |
| Total Revenue | $254,327 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $0 |
| Other employee salaries and wages | $0 |
| Pension plans, employee benefits | $0 |
| Interest | $0 |
| Taxes | $5,329 |
| Depreciation | $0 |
| Occupancy | $0 |
| Travel, conferences, and meetings | $0 |
| Printing and publications | $0 |
| Other expenses | $25 |
| Total operating and administrative expenses | $7,979 |
| Contributions, gifts, grants paid | $1,100,000 |
| Total expenses and disbursements | $1,107,979 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $727,779 |
| Savings and temporary cash investments | $441,063 |
| 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 | $5,415,758 |
| 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, Patch Foundation has awarded $1,100,000 in support to 44 organizations.
| Grant Recipient | Amount |
|---|---|
EVANGELICAL COVENANT CHURCH PURPOSE: RELIGIOUS | $200,000 |
SALEM COVENANT CHURCH PURPOSE: RELIGIOUS | $150,000 |
COVENANT WORLD RELIEF PURPOSE: RELIGIOUS | $150,000 |
Roseville, MN PURPOSE: RELIGIOUS | $100,000 |
Minneapolis, MN PURPOSE: EDUCATIONAL | $50,000 |
SECOND HARVEST HEARTLAND PURPOSE: PROGRAM SUPPORT | $50,000 |
Grants Recieved
Over the last fiscal year, we have identified 1 grants that Patch Foundation has recieved totaling $1,500.
| Awarding Organization | Amount |
|---|---|
Sspc The Society For Protective Coatings Greentree, PA PURPOSE: DONATION | $1,500 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
William F Vilas Estate Oregon, WI | $133,759,429 | $14,905,447 |
Woodbourne Charitable Trust Plymouth, MN | $1,142,964 | $10,020,932 |
James M Stanton Foundation Bloomington, MN | $29,105,685 | $38,323,984 |
Cokato Charitable Trust Cokato, MN | $9,103,416 | $8,785,306 |
Jay And Rose Phillips Family Foundation Of Minnesota Minneapolis, MN | $65,545,808 | $6,097,586 |
Hennessey Charitable Trust Dubuque, IA | $69,986,391 | $0 |
Marie H Bechtel Charitable Trust Davenport, IA | $48,721,172 | $1,150,391 |
Henry J Predolin Foundation Inc Madison, WI | $69,057,848 | $691,560 |
Ciresi Walburn Foundation For Children Minneapolis, MN | $31,215,919 | $1,296,068 |
Holthues Tr Muscatine, IA | $22,886,855 | $2,685,899 |
Murphy Charitable Family Foundation Ankeny, IA | $6,139,720 | $12,111 |
Conrad Heskin Charitable Trust Grand Forks, ND | $0 | $281,368 |