Kendrick B Melrose Family Foundation
- Assets
- $28.7m
- Revenue
- $1.2m
- Investments
- $27.6m
- Employees
- 0
- Location
- Plymouth, MN
- Founding
- 09/1998
- Data as of
- 12/2022
- EIN
- 41-1894134
Organization Overview
Kendrick B Melrose Family Foundation is located in Plymouth, MN. The organization was established in 1998. 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. Kendrick B Melrose 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 12/2022, Kendrick B Melrose Family Foundation generated $1.2m in total revenue. This organization has experienced exceptional growth, as over the past 4 years, it has increased revenue by an average of 33.2% each year . All expenses for the organization totaled $2.6m during the year ending 12/2022. While expenses have increased by 28.9% per year over the past 4 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 2020, Kendrick B Melrose Family Foundation has awarded 29 individual grants totaling $5,058,311. 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 |
|---|---|---|---|
Edward A Arndt Chair/president | 2 | $32,000 | |
David Zaudtke Treasurer | 1 | $30,000 | |
Laurie Rivard Secretary | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $0 |
| Interest on Savings | $0 |
| Dividends & Interest | $593,432 |
| Net Rental Income | $0 |
| Net Gain on Sale of Assets | $591,592 |
| Capital Gain Net Income | $591,592 |
| Net ST Capital Gain | $0 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $0 |
| Other Income | $793 |
| Total Revenue | $1,185,817 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $62,000 |
| Other employee salaries and wages | $0 |
| Pension plans, employee benefits | $0 |
| Interest | $0 |
| Taxes | $11,314 |
| Depreciation | $0 |
| Occupancy | $0 |
| Travel, conferences, and meetings | $0 |
| Printing and publications | $0 |
| Other expenses | $31 |
| Total operating and administrative expenses | $304,635 |
| Contributions, gifts, grants paid | $2,279,500 |
| Total expenses and disbursements | $2,584,135 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $1,049,259 |
| 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 | $20,549,158 |
| Net Land, buildings, and equipment | $0 |
| Other assets | $0 |
| Total assets | $28,652,209 |
| 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, Kendrick B Melrose Family Foundation has awarded $2,279,500 in support to 9 organizations.
| Grant Recipient | Amount |
|---|---|
ALZHEIMERS ASSOCIATION MINNESOTA-NORTH DAKOTA CHAPTER PURPOSE: GENERAL PURPOSE | $65,000 |
CREATE A MEMORY FOUNDATION PURPOSE: GENERAL PURPOSE | $110,000 |
GIVING VOICE PURPOSE: GENERAL OPERATIONS | $11,000 |
GOOD CITIES PURPOSE: GENERAL PURPOSE | $7,500 |
HILL CITIES PURPOSE: GENERAL PURPOSE | $11,000 |
INTERFAITH OUTREACH & COMMUNITY PARTNERS PURPOSE: GENERAL OPERATIONS | $1,900,000 |