Graco Foundation
- Assets
- $26.6m
- Revenue
- $1.2m
- Investments
- $26.4m
- Employees
- 0
- Location
- Minneapolis, MN
- Founding
- 03/1958
- Data as of
- 12/2022
- EIN
- 41-6023537
Organization Overview
Graco Foundation is located in Minneapolis, MN. The organization was established in 1958. According to its NTEE Classification (T20) the organization is classified as: Private Grantmaking 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. Graco 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, Graco Foundation generated $1.2m in total revenue. This represents a relatively dramatic decline in revenue. Over the past 4 years, the organization has seen revenues fall by an average of (13.1%) each year. All expenses for the organization totaled $1.3m during the year ending 12/2022. As we would expect to see with falling revenues, expenses have declined by (26.3%) per year over the past 4 years. You can explore the organizations financials more deeply in the financial statements section below.
Since 2019, Graco Foundation has awarded 1,741 individual grants totaling $8,148,482. 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
990PF
Mission & Program ActivityExcerpts From the 990PF Filing
TAX YEAR
2022
Describe the Organization's Program Activity:
Part 3 - Line 4a
NONE
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Mark Sheahan President | 0.3 | $0 | |
Joseph Humke Vice President | 0.2 | $0 | |
Janel W French Treasurer/ Secretary (as Of 07/2022) | 3 | $0 | |
Mark Chamberlain Secretary (end 07/2022) | 2.4 | $0 | |
Diane Olson Director | 0.4 | $0 | |
David Lowe Director | 0.4 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $0 |
| Interest on Savings | $0 |
| Dividends & Interest | $292,308 |
| Net Rental Income | $0 |
| Net Gain on Sale of Assets | $899,829 |
| Capital Gain Net Income | $899,829 |
| Net ST Capital Gain | $0 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $0 |
| Other Income | $3,930 |
| Total Revenue | $1,196,067 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $0 |
| Other employee salaries and wages | $0 |
| Pension plans, employee benefits | $0 |
| Interest | $0 |
| Taxes | $60,025 |
| Depreciation | $0 |
| Occupancy | $0 |
| Travel, conferences, and meetings | $0 |
| Printing and publications | $0 |
| Other expenses | $56,860 |
| Total operating and administrative expenses | $123,715 |
| Contributions, gifts, grants paid | $1,184,511 |
| Total expenses and disbursements | $1,308,226 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $125,421 |
| 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 | $26,435,707 |
| Net Land, buildings, and equipment | $0 |
| Other assets | $0 |
| Total assets | $26,561,128 |
| 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, Graco Foundation has awarded $1,184,511 in support to 509 organizations.
| Grant Recipient | Amount |
|---|---|
ABOUT FRESH INC PURPOSE: GIFT MATCHING | $250 |
AKRON-CANTON REGIONAL FOODBANK PURPOSE: GIFT MATCHING | $418 |
ACHIEVE MINNEAPOLIS PURPOSE: GIFT MATCHING | $1,176 |
ALEXANDRIA TECHNICAL COLLEGE PURPOSE: GENERAL OPERATING SUPPORT | $10,000 |
ALEXS LEMONADE STAND FOUNDATION PURPOSE: GIFT MATCHING | $500 |
ACHIEVE MINNEAPOLIS PURPOSE: DOLLARS FOR DOERS | $450 |