William N And Ruth M Westhoff Family Foundation
- Assets
- $2.2m
- Revenue
- $353.2k
- Investments
- $2.2m
- Employees
- 0
- Location
- Plymouth, MN
- Founding
- 04/2001
- Data as of
- 12/2022
- EIN
- 41-1987869
Organization Overview
William N And Ruth M Westhoff Family Foundation is located in Plymouth, 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. William N And Ruth M Westhoff 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 12/2022, William N And Ruth M Westhoff Family Foundation generated $353.2k in total revenue. This organization has experienced exceptional growth, as over the past 7 years, it has increased revenue by an average of 11.0% each year . All expenses for the organization totaled $69.3k during the year ending 12/2022. You can explore the organizations financials more deeply in the financial statements section below.
Since 2016, William N And Ruth M Westhoff Family Foundation has awarded 112 individual grants totaling $533,297. 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.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
William N Westhoff President | 1 | $0 | |
Ruth M Westhoff Vice Preside | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $131,551 |
| Interest on Savings | $2,466 |
| Dividends & Interest | $48,688 |
| Net Rental Income | $0 |
| Net Gain on Sale of Assets | $170,499 |
| Capital Gain Net Income | $170,499 |
| Net ST Capital Gain | $0 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $0 |
| Other Income | $0 |
| Total Revenue | $353,204 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $0 |
| Other employee salaries and wages | $0 |
| Pension plans, employee benefits | $0 |
| Interest | $0 |
| Taxes | $977 |
| Depreciation | $0 |
| Occupancy | $0 |
| Travel, conferences, and meetings | $0 |
| Printing and publications | $0 |
| Other expenses | $25 |
| Total operating and administrative expenses | $16,899 |
| Contributions, gifts, grants paid | $52,400 |
| Total expenses and disbursements | $69,299 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $50,565 |
| 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 | $0 |
| Net Land, buildings, and equipment | $0 |
| Other assets | $0 |
| Total assets | $2,200,752 |
| 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, William N And Ruth M Westhoff Family Foundation has awarded $52,400 in support to 23 organizations.
| Grant Recipient | Amount |
|---|---|
SALVATION ARMY PURPOSE: GEN'L PURPOSE EXEMPT FUNCTION GRANT | $1,000 |
NEW LIFE IN CHRIST PURPOSE: GEN'L PURPOSE EXEMPT FUNCTION GRANT | $500 |
URBAN ALLIANCE PURPOSE: GEN'L PURPOSE EXEMPT FUNCTION GRANT | $6,000 |
VEAP PURPOSE: GEN'L PURPOSE EXEMPT FUNCTION GRANT | $5,000 |
BRIDGES TO LEARNING PURPOSE: GEN'L PURPOSE EXEMPT FUNCTION GRANT | $2,000 |
INNER CITY TENNIS PURPOSE: GEN'L PURPOSE EXEMPT FUNCTION GRANT | $1,500 |