Wings Financial Foundation
- Assets
- $4.1m
- Revenue
- $778.5k
- Investments
- $2.7m
- Employees
- 0
- Location
- Apple Valley, MN
- Founding
- 06/2019
- Data as of
- 12/2022
- EIN
- 41-1929671
Organization Overview
Wings Financial Foundation is located in Apple Valley, MN. The organization was established in 2019. According to its NTEE Classification (B82) the organization is classified as: Scholarships & Student Financial Aid, 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. Wings Financial 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, Wings Financial Foundation generated $778.5k in total revenue. This organization has experienced exceptional growth, as over the past 7 years, it has increased revenue by an average of 34.3% each year . All expenses for the organization totaled $569.5k during the year ending 12/2022. While expenses have increased by 29.6% 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, Wings Financial Foundation has awarded 226 individual grants totaling $734,089. 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
990PF
Mission & Program ActivityExcerpts From the 990PF Filing
TAX YEAR
2022
Describe the Organization's Program Activity:
Part 3 - Line 4a
FINANCIAL LITERACY FOR YOUTH
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
John Wagner President | 0.5 | $0 | |
Greg Higgins Secretary | 0.5 | $0 | |
Norman Creveling Vice President | 0.5 | $0 | |
Vikram Israni Treasurer | 0.5 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $626,652 |
| Interest on Savings | $2,837 |
| Dividends & Interest | $80,117 |
| Net Rental Income | $0 |
| Net Gain on Sale of Assets | $16,586 |
| Capital Gain Net Income | $16,586 |
| Net ST Capital Gain | $0 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $0 |
| Other Income | $52,260 |
| Total Revenue | $778,452 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $0 |
| Other employee salaries and wages | $174,642 |
| Pension plans, employee benefits | $0 |
| Interest | $0 |
| Taxes | $9,027 |
| Depreciation | $0 |
| Occupancy | $0 |
| Travel, conferences, and meetings | $13,325 |
| Printing and publications | $9,742 |
| Other expenses | $221,005 |
| Total operating and administrative expenses | $455,411 |
| Contributions, gifts, grants paid | $114,077 |
| Total expenses and disbursements | $569,488 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $1,210,740 |
| Savings and temporary cash investments | $235,695 |
| 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 | $1,592,110 |
| Net Land, buildings, and equipment | $0 |
| Other assets | $0 |
| Total assets | $4,138,700 |
| 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, Wings Financial Foundation has awarded $114,077 in support to 33 organizations.
| Grant Recipient | Amount |
|---|---|
360 COMMUNITIES PURPOSE: FIRE & ICE GALA, GOLF SPONSORSHIP, MOVERS FOR MOMS | $8,000 |
3M OPEN PURPOSE: CHARITABLE CONTRIBUTIONS | $12,500 |
AFFINITY PLUS FOUNDATION PURPOSE: SPONSORSHIP FUNDRAISER | $5,000 |
ALEXANDRA HOUSE INC PURPOSE: DONATION MOVERS FOR MOMS | $500 |
BAYLOR UNIVERSITY - SCHOLARSHIP-EMI PURPOSE: SCHOLARSHIP | $5,000 |
BESTPREP PURPOSE: BESTPREP ANNUAL LUNCHEON SPONSORSHIP | $3,500 |