Carolyn Foundation
- Assets
- $32.2m
- Revenue
- $2.0m
- Investments
- $26.7m
- Employees
- 0
- Location
- Minneapolis, MN
- Founding
- 07/1965
- Data as of
- 12/2023
- EIN
- 41-6044416
Organization Overview
Carolyn Foundation is located in Minneapolis, MN. The organization was established in 1965. 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. Carolyn 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, Carolyn Foundation generated $2.0m in total revenue. This represents relatively stable growth, over the past 5 years the organization has increased revenue by an average of 4.0% each year. All expenses for the organization totaled $4.3m during the year ending 12/2023. You can explore the organizations financials more deeply in the financial statements section below.
Since 2019, Carolyn Foundation has awarded 14 individual grants totaling $16,719,423. 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 |
|---|---|---|---|
Sophie Larocque Chair | 1 | $0 | |
Clark Carlton Vice Chair | 1 | $0 | |
Nell Smith Treasurer | 1 | $0 | |
Rebecca Erdahl Sec/ex Director | 40 | $211,117 | |
Claren Copp Larocque Trustee | 1 | $0 | |
Alexander Crosby Trustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $0 |
| Interest on Savings | $0 |
| Dividends & Interest | $884,893 |
| Net Rental Income | $0 |
| Net Gain on Sale of Assets | $1,088,044 |
| Capital Gain Net Income | $1,088,044 |
| Net ST Capital Gain | $0 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $0 |
| Other Income | $0 |
| Total Revenue | $1,972,937 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $211,117 |
| Other employee salaries and wages | $80,000 |
| Pension plans, employee benefits | $38,906 |
| Interest | $0 |
| Taxes | $45,344 |
| Depreciation | $0 |
| Occupancy | $7,456 |
| Travel, conferences, and meetings | $69,876 |
| Printing and publications | $0 |
| Other expenses | $51,571 |
| Total operating and administrative expenses | $611,159 |
| Contributions, gifts, grants paid | $3,725,865 |
| Total expenses and disbursements | $4,337,024 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $48,121 |
| Savings and temporary cash investments | $5,372,044 |
| 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 | $35,173 |
| Net Land, buildings, and equipment | $0 |
| Other assets | $0 |
| Total assets | $32,152,187 |
| 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 | $1,820 |
| Total liabilities | $1,820 |
Grants Awarded
Over the last fiscal year, Carolyn Foundation has awarded $4,434,680 in support to 4 organizations.
| Grant Recipient | Amount |
|---|---|
SEE ATTACHMENT 2 PURPOSE: SEE ATTACHMENT 2 | $3,693,065 |
SEE ATTACHMENT 3 PURPOSE: SEE ATTACHMENT 3 | $32,800 |
SEE ATTACHMENT 4 PURPOSE: SEE ATTACHMENT 4 | $678,200 |
SEE ATTACHMENT 5 PURPOSE: OPERATING | $30,615 |