Morsman Family Foundation
- Assets
- $364.5k
- Revenue
- $67.4k
- Investments
- $360.9k
- Employees
- 0
- Location
- Wayzata, MN
- Founding
- 07/2001
- Data as of
- 12/2023
- EIN
- 41-2008689
Organization Overview
Morsman Family Foundation is located in Wayzata, 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. Morsman 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 12/2023, Morsman Family Foundation generated $67.4k in total revenue. This organization has experienced exceptional growth, as over the past 5 years, it has increased revenue by an average of 26.8% each year . All expenses for the organization totaled $46.8k during the year ending 12/2023. While expenses have increased by 3.6% per year over the past 5 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, Morsman Family Foundation has awarded 84 individual grants totaling $138,300. 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.
Get More from Intellispect for FreeCreate a free account to get more data, nonprofit salaries, advanced search and more.
Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Amy S Morsman President/treasurer | 0.25 | $0 | |
Jeffrey H Morsman Vp/secretary/asst. Treasurer | 0.25 | $0 | |
Edgar M Morsman Jr Director | 0.25 | $0 | |
Elizabeth H Morsman Director | 0.25 | $0 | |
James C Morsman Director | 0.25 | $0 | |
Angela Peyton Morsman Director | 0.25 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $0 |
| Interest on Savings | $0 |
| Dividends & Interest | $17,166 |
| Net Rental Income | $0 |
| Net Gain on Sale of Assets | $50,230 |
| Capital Gain Net Income | $50,230 |
| Net ST Capital Gain | $0 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $0 |
| Other Income | $0 |
| Total Revenue | $67,396 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $0 |
| Other employee salaries and wages | $0 |
| Pension plans, employee benefits | $0 |
| Interest | $0 |
| Taxes | $1,254 |
| Depreciation | $0 |
| Occupancy | $0 |
| Travel, conferences, and meetings | $0 |
| Printing and publications | $0 |
| Other expenses | $524 |
| Total operating and administrative expenses | $10,814 |
| Contributions, gifts, grants paid | $36,000 |
| Total expenses and disbursements | $46,814 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $3,589 |
| 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 | $66,000 |
| Net Land, buildings, and equipment | $0 |
| Other assets | $0 |
| Total assets | $364,531 |
| 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, Morsman Family Foundation has awarded $36,000 in support to 21 organizations.
| Grant Recipient | Amount |
|---|---|
ALIGHT PURPOSE: BUILDS MEANINGFUL LIVES FOR DISPLACED PERSONS AROUND THE WORLD | $1,200 |
BROOKE USA PURPOSE: HELPS TO KEEP WORKING ANIMALS HEALTHY IN THE POOREST COUNTRIES. | $1,200 |
CHATFIELD MUSIC LENDING LIBRARY PURPOSE: LENDS OLD TIME BAND MUSIC TO PLAYERS. | $1,000 |
CLIMATE GENERATION PURPOSE: ADVOCATES CLIMATE LITERACY, EDUCATION, AND CITIZEN ENGAGEMENT. | $1,200 |
CONSERVATION COLORADO PURPOSE: GRASS ROOTS VOICE FOR CONSERVATION IN COLORADO. | $2,000 |
DUMB FRIENDS LEAGUE PURPOSE: RESCUES AND CARES FOR DOGS AND OTHER ANIMALS. | $2,000 |