Blue Earth Area School Foundation
- Assets
- $652.3k
- Revenue
- $66.8k
- Investments
- $0.0
- Employees
- 0
- Location
- Blue Earth, MN
- Founding
- 02/1999
- Data as of
- 12/2022
- EIN
- 41-1915635
Organization Overview
Blue Earth Area School Foundation is located in Blue Earth, MN. The organization was established in 1999. According to its NTEE Classification (B11) the organization is classified as: Single Organization Support, 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. Blue Earth Area School 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, Blue Earth Area School Foundation generated $66.8k in total revenue. This represents relatively stable growth, over the past 6 years the organization has increased revenue by an average of 6.9% each year. All expenses for the organization totaled $29.4k during the year ending 12/2022. 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
2022
Describe the Organization's Mission:
Part 3 - Line 1
EDUCATIONAL ENHANCEMENTS FOR ISD #2860 STUDENTS. FUNDS ARE PROVIDED FOR MATERIALS, EQUIPMENT, TRAVEL EXPENSES, PROGRAMMING & ASSOCIATED COSTS TO BENEFIT 1,039 STUDENTS. THE FOUNDATION PROVIDES ANNUAL SCHOLARSHIPS TO GRADUATES TO PURSUE POST HIGH SCHOOL EDUCATION.
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE FOUNDATION PROVIDES FUNDS TO ENHANCE THE EDUCATIONAL OPPORTUNITIES FOR STUDENTS IN THE BLUE EARTH AREA SCHOOL SYSTEM IN GRADES K - 12. FUNDS ARE PROVIDED FOR MATERIALS, EQUIPMENT, TRAVEL EXPENSES, PROGRAMMING AND ASSOCIATED COSTS TO BENEFIT 1,039 STUDENTS.
THE FOUNDATION PROVIDES ANNUAL SCHOLARSHIPS TO BLUE EARTH AREA GRADUATES WHO PURSUE POST HIGH SCHOOL EDUCATION AS DIRECTED IN THE BEVERLY SPANO SCHOLARSHIP BEQUEST AND THE HOFFMAN/PASCHKE GIFT.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Vicki Boeckman Secretary | OfficerTrustee | 3 | $0 |
Chelsey Haase Board Member | Trustee | 3 | $0 |
Lenne Holland Board Memeber | Trustee | 3 | $0 |
Amber Patton Board Member | Trustee | 3 | $0 |
Kristi Schonrock Board Member | Trustee | 3 | $0 |
Ryan Foster Board Member | Trustee | 3 | $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 | $6,790 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $6,790 |
| Total Program Service Revenue | $0 |
| Investment income | $13,295 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $5,475 |
| Net Income from Fundraising Events | $41,216 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $66,776 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $28,859 |
| 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 | $200 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $0 |
| Office expenses | $129 |
| 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 | $29,378 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $61,723 |
| Savings and temporary cash investments | $268,400 |
| 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 | $322,129 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $652,252 |
| Accounts payable and accrued expenses | $0 |
| 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 | $0 |
| Total liabilities | $0 |
| Net assets without donor restrictions | $0 |
| 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 | $652,252 |
| Total liabilities and net assets/fund balances | $652,252 |