Beverly Foundation
- Assets
- $17.2m
- Revenue
- $1.9m
- Investments
- $6.1m
- Employees
- 0
- Location
- Minneapolis, MN
- Founding
- 09/2000
- Data as of
- 12/2022
- EIN
- 41-1958161
Organization Overview
Beverly Foundation is located in Minneapolis, MN. The organization was established in 2000. According to its NTEE Classification (T22) the organization is classified as: Private Independent 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. Beverly 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, Beverly Foundation generated $1.9m in total revenue. This represents relatively stable growth, over the past 4 years the organization has increased revenue by an average of 8.9% each year. All expenses for the organization totaled $2.8m during the year ending 12/2022. While expenses have increased by 0.0% 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, Beverly Foundation has awarded 189 individual grants totaling $7,100,194. 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
990T
Mission & Program ActivityExcerpts From the 990T Filing
TAX YEAR
2022
Describe the Organization's Program Activity:
THE BEVERLY FOUNDATION ACCOMPLISHES ITS CHARITABLE PURPOSES SOLELY THROUGH MAKING CHARITABLE GIFTS AND DOES NOT CONDUCT ANY DIRECT CHARITABLE ACTIVITIES. SINCE THIS FOUNDATION'S CHARITABLE PROGRAMS CONSIST SOLELY OF GRANT-MAKING ACTIVITIES, NO ALLOCATION OF ADMINISTRATIVE EXPENSES BETWEEN GRANT ACTIVITIES, DIRECT CHARITABLE ACTIVITIES AND PROGRAM-RELATED INVESTMENTS IS REQUIRED.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Beverly Deikel President, Treasurer | 1 | $0 | |
Ronald Fingerhut Secretary | 0.5 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $0 |
| Interest on Savings | $100,411 |
| Dividends & Interest | $309,971 |
| Net Rental Income | $0 |
| Net Gain on Sale of Assets | $1,488,227 |
| Capital Gain Net Income | $1,426,745 |
| Net ST Capital Gain | $0 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $0 |
| Other Income | $11,185 |
| Total Revenue | $1,909,794 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $0 |
| Other employee salaries and wages | $0 |
| Pension plans, employee benefits | $0 |
| Interest | $0 |
| Taxes | $55,719 |
| Depreciation | $0 |
| Occupancy | $0 |
| Travel, conferences, and meetings | $3,371 |
| Printing and publications | $0 |
| Other expenses | $117,570 |
| Total operating and administrative expenses | $555,877 |
| Contributions, gifts, grants paid | $2,254,500 |
| Total expenses and disbursements | $2,810,377 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $7,623 |
| Savings and temporary cash investments | $1,946,148 |
| Net Accounts receivable | $1,491,624 |
| 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 | $7,628,359 |
| Total assets | $17,191,140 |
| 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, Beverly Foundation has awarded $2,254,500 in support to 64 organizations.
| Grant Recipient | Amount |
|---|---|
ACHIEVE MINNEAPOLIS PURPOSE: STEP UP PROGRAM | $2,500 |
ADL MIDWEST - ANTI-DEFAMATION COMMITTEE PURPOSE: GENERAL OPERATING | $10,000 |
ALZHEIMER'S ASSOCIATION PURPOSE: WALK SPONSOR | $7,500 |
AMERICAN FRIENDS OF LEKET PURPOSE: GENERAL OPERATING/ISRAEL'S FOOD BANK | $20,000 |
AMERICAN FRIENDS OF NISHMAT PURPOSE: ETHIOPIAN WOMEN'S EDUCATIONAL PROGRAM | $35,000 |
AMERICAN ISRAEL EDUCATION FOUNDATION PURPOSE: GENERAL OPERATING | $50,000 |