The Mortenson Family Foundation
- Assets
- $135.9m
- Revenue
- $34.7m
- Investments
- $106.9m
- Employees
- 0
- Location
- Minneapolis, MN
- Founding
- 07/2001
- Data as of
- 12/2021
- EIN
- 41-1958621
Organization Overview
The Mortenson Family Foundation is located in Minneapolis, MN. The organization was established in 2001. 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. Mortenson 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 12/2021, Mortenson Family Foundation generated $34.7m in total revenue. This organization has experienced exceptional growth, as over the past 4 years, it has increased revenue by an average of 56.1% each year . All expenses for the organization totaled $6.3m during the year ending 12/2021. While expenses have increased by 35.2% 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 2019, Mortenson Family Foundation has awarded 477 individual grants totaling $18,290,000. 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
2021
Describe the Organization's Program Activity:
NONE
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Donna Dalton Executive Director | 40 | $146,974 | |
Ambar Hanson Community Relationsh | 40 | $111,720 | |
Danyelle O'hara Community Relationsh | 40 | $111,554 | |
Alice D Mortenson President/chair | 3 | $0 | |
Nathalie G Mortenson Vice President | 1 | $0 | |
David C Mortenson Director | 1 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Ubs Financials Services Inc | 12/30/21 | $412,040 |
Okabena Advisors | 12/30/21 | $80,234 |
Lansing Group Llc | 12/30/21 | $318,060 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $24,882,303 |
| Interest on Savings | $9,228 |
| Dividends & Interest | $2,803,450 |
| Net Rental Income | $0 |
| Net Gain on Sale of Assets | $6,079,050 |
| Capital Gain Net Income | $6,079,050 |
| Net ST Capital Gain | $0 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $0 |
| Other Income | $896,864 |
| Total Revenue | $34,670,895 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $183,450 |
| Other employee salaries and wages | $337,274 |
| Pension plans, employee benefits | $0 |
| Interest | $0 |
| Taxes | $146,460 |
| Depreciation | $3,370 |
| Occupancy | $0 |
| Travel, conferences, and meetings | $0 |
| Printing and publications | $375 |
| Other expenses | $626,467 |
| Total operating and administrative expenses | $2,211,270 |
| Contributions, gifts, grants paid | $4,130,000 |
| Total expenses and disbursements | $6,341,270 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $485,639 |
| Savings and temporary cash investments | $23,938,167 |
| 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 | $39,060,960 |
| Net Land, buildings, and equipment | $11,891 |
| Other assets | $4,617,435 |
| Total assets | $135,941,290 |
| Accounts payable and accrued expenses | $242 |
| Grants payable | $5,482,500 |
| Deferred revenue | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Mortgages and other notes payable | $0 |
| Other liabilities | $236,890 |
| Total liabilities | $5,719,632 |
Grants Awarded
Over the last fiscal year, The Mortenson Family Foundation has awarded $9,707,500 in support to 188 organizations.
| Grant Recipient | Amount |
|---|---|
Minneapolis, MN PURPOSE: SUPPORTING STUDENTS TO ACHIEVE A QUALITY EDUCATION | $5,000,000 |
Minneapolis, MN PURPOSE: SUPPORTING STUDENTS TO ACHIEVE A QUALITY EDUCATION | $500,000 |
Rochester, MN PURPOSE: INSPIRING HOPE AND PROMOTING HEALTH THROUGH INTEGRATED CLINICAL PRACTICE, EDUCATION AND RESEARCH. | $250,000 |
REGENTS OF THE UNIVERSITY OF COLORADO PURPOSE: THE MORTENSON CENTER IN ENGINEERING FOR DEVELOPING COMMUNITIES HELPS PEOPLE AROUND THE WORLD BY TRAINING THE NEXT GENERATION OF PRACTITIONERS IN GLOBAL ENGINEERING TO POSITIVELY IMPACT VULNERABLE COMMUNITIES THROUGH IMPROVED DEVELOPMENT AND PRACTICE. | $200,000 |
MACALESTER COLLEGE PURPOSE: SINCE ITS FOUNDING IN 1874, MACALESTER HAS PROVIDED STUDENTS THE INSPIRATION, INSIGHT AND EXPERIENCE TO BECOME SUCCESSFUL AND ETHICAL LEADERS. CLASSES ARE TAUGHT BY FACULTY WHOSE PASSION IS TEACHING AND WHOSE SCHOLARSHIP GAINS NATIONAL RECOGNITION. | $150,000 |
Minneapolis, MN PURPOSE: MEETING THE PHYSICAL, EMOTIONAL, AND SPIRITUAL NEEDS OF NORTH MINNEAPOLIS CHILDREN AND YOUTH TO PROMOTE EDUCATIONAL ACHIEVEMENT AND LIFE SUCCESS | $150,000 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Goodman Family Operating Foundation Chaska, MN | $298,216,479 | $15,439,155 |
Robert And Adele Schiff Family Foundation Inc Milwaukee, WI | $226,331,394 | $18,541,997 |
Wca Foundation C/O The Minneapolis Foundation Minneapolis, MN | $0 | $1,050,329 |
Esther And Harold Mertz Foundation Sioux Falls, SD | $674,132,608 | $21,835,940 |
Larson Foundation Sioux Falls, SD | $23,259,212 | -$633,184 |
John T Vucurevich Foundation Rapid City, SD | $151,565,692 | $20,798,188 |
Fund For Wisconsin Scholars Inc Madison, WI | $273,321,225 | $22,010,196 |
Pohlad Family Foundation Minneapolis, MN | $102,001,164 | $18,381,775 |
Roy J Carver Charitable Tr Muscatine, IA | $235,043,756 | $22,231,044 |
F R Bigelow Foundation Trust 555 St Paul, MN | $202,026,485 | $23,166,449 |
Lewis W Hyer Trust 098310c Milwaukee, WI | $167,937,358 | $18,090,828 |
Charles E Lakin Foundation Inc Council Bluffs, IA | $146,415,136 | $18,758,116 |