Wem 2000 Foundation
- Assets
- $94.1m
- Revenue
- $6.3m
- Investments
- $87.9m
- Employees
- 0
- Location
- Minneapolis, MN
- Founding
- 09/2000
- Data as of
- 12/2021
- EIN
- 41-1978254
Organization Overview
Wem 2000 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. Wem 2000 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, Wem 2000 Foundation generated $6.3m in total revenue. This organization has experienced exceptional growth, as over the past 7 years, it has increased revenue by an average of 10.2% each year . All expenses for the organization totaled $5.1m during the year ending 12/2021. While expenses have increased by 18.8% 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 2018, Wem 2000 Foundation has awarded 26 individual grants totaling $16,150,000. 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 Mission:
Part 3 - Line 1
TO ASSIST IN CARRYING OUT THE CHARITABLE PURPOSES OF ANY PUBLIC CHARITY LOCATED IN MINNESOTA,INCLUDING, BUT NOT LIMITED TO, THE DORSEY & WHITNEY FOUNDATION.
Describe the Organization's Program Activity:
ASSISTED IN CARRYING OUT THE CHARITABLE PURPOSES OF THE DORSEY & WHITNEY FOUNDATION.
ASSISTED IN CARRYING OUT THE CHARITABLE PURPOSES OF TNTP, INC.
ASSISTED IN CARRYING OUT THE CHARITABLE PURPOSES OF THE PRODEO ACADEMY.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Robert J Theiler -Thru 43021 Trustee | Trustee | 1 | $0 |
Sonny F Miller Trustee | Trustee | 1 | $0 |
Heather Dorsey -As Of 43021 Trustee | Trustee | 1 | $0 |
Elizabeth S Macmillan Trustee | Trustee | 1 | $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 | $44,800 |
| Noncash contributions included in lines 1a–1f | $44,800 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $44,800 |
| Total Program Service Revenue | $0 |
| Investment income | $6,138,032 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $3 |
| Net Rental Income | -$157 |
| Net Gain/Loss on Asset Sales | $114,269 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $6,290,419 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $5,000,000 |
| Grants and other assistance to domestic individuals. | $0 |
| 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 | $17,433 |
| Fees for services: Legal | $7,194 |
| Fees for services: Accounting | $0 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $29,921 |
| Advertising and promotion | $0 |
| Office expenses | $0 |
| 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 | $1,636 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $0 |
| All other expenses | $1,776 |
| Total functional expenses | $5,069,014 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $6,257,612 |
| 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 | $0 |
| Investments—other securities | $87,853,517 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $94,111,129 |
| 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 | $94,111,129 |
| Total liabilities and net assets/fund balances | $94,111,129 |
Grants Awarded
Over the last fiscal year, Wem 2000 Foundation has awarded $5,000,000 in support to 8 organizations.
| Grant Recipient | Amount |
|---|---|
Minneapolis, MN PURPOSE: TO ASSIST IN CARRYING OUT THE CHARITABLE PURPOSES OF THE DORSEY & WHITNEY FOUNDATION | $1,700,000 |
New York, NY PURPOSE: TO ASSIST IN CARRYING OUT THE CHARITABLE PURPOSES OF TNTP, INC. | $900,000 |
Hopkins, MN PURPOSE: TO ASSIST IN CARRYING OUT THE CHARITABLE PURPOSES OF BLACK MEN TEACH | $500,000 |
Columbia Heights, MN PURPOSE: TO ASSIST IN CARRYING OUT THE CHARITABLE PURPOSES OF PRODEO ACADEMY | $500,000 |
Minneapolis, MN PURPOSE: TO ASSIST IN CARRYING OUT THE CHARITABLE PURPOSES OF MICROGRANTS | $450,000 |
St Paul, MN PURPOSE: TO ASSIST IN CARRYING OUT THE CHARITABLE PURPOSES OF WOMEN VENTURE | $375,000 |
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 |