Grotto Foundation Inc
- Assets
- $29.2m
- Revenue
- $4.1m
- Investments
- $26.7m
- Employees
- 0
- Location
- Arden Hills, MN
- Founding
- 08/1966
- Data as of
- 04/2022
- EIN
- 41-6052604
Organization Overview
Grotto Foundation Inc is located in Arden Hills, MN. The organization was established in 1966. 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. Grotto Foundation Inc 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 04/2022, Grotto Foundation Inc generated $4.1m in total revenue. This organization has experienced exceptional growth, as over the past 7 years, it has increased revenue by an average of 37.3% each year . All expenses for the organization totaled $2.0m during the year ending 04/2022. While expenses have increased by 5.5% 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 2016, Grotto Foundation Inc has awarded 166 individual grants totaling $6,546,353. 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
GENERAL GRANTS AND CONSULTATIVE SERVICES ARE TO BENEFIT SOCIETY BY IMPROVING THE EDUCATIONAL, FINANCIAL, PHYSICAL AND SOCIAL WELL-BEING OF INDIVIDUALS AND FAMILIES BY INVESTING IN EFFECTIVE NONPROFIT ORGANIZATIONS THROUGHOUT THE STATE OF MINNESOTA. GRANTS ARE AWARDED TO NONPROFIT ORGANIZATIONS IF THEY WORK IN 3 OF THE FOLLOWING 4 AREAS: YOUTH DEVELOPMENT, COMMUNITY SAFETY AND NEIGHBORHOOD DEVELOPMENT, POSTSECONDARY SUCCESS, AND MENTORING. IN FISCAL YEAR 2022 THE GROTTO FOUNDATION MADE GENERAL GRANTS OF $1,228,900 FOR CHARITABLE PURPOSES.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Sonja Moore Executive Director | 40 | $188,528 | |
Louis Fors Hill President | 1 | $0 | |
Malcolm W Mcdonald Vice President | 1 | $0 | |
Mary Manuel Treasurer | 1 | $0 | |
Richard Andolshek Member | 1 | $0 | |
Kathrine Hill Member | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $43,963 |
| Interest on Savings | $23,133 |
| Dividends & Interest | $758,791 |
| Net Rental Income | $0 |
| Net Gain on Sale of Assets | $3,244,596 |
| Capital Gain Net Income | $3,244,596 |
| Net ST Capital Gain | $0 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $0 |
| Other Income | $0 |
| Total Revenue | $4,070,483 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $208,615 |
| Other employee salaries and wages | $87,357 |
| Pension plans, employee benefits | $44,840 |
| Interest | $0 |
| Taxes | $52,467 |
| Depreciation | $2,067 |
| Occupancy | $3,449 |
| Travel, conferences, and meetings | $581 |
| Printing and publications | $3,167 |
| Other expenses | $21,106 |
| Total operating and administrative expenses | $740,863 |
| Contributions, gifts, grants paid | $1,228,900 |
| Total expenses and disbursements | $1,969,763 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $2,057,794 |
| Savings and temporary cash investments | $402,961 |
| 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 | $10,920 |
| Net Investments - land, buildings, equipment | $0 |
| Investments—mortgage loans | $0 |
| Investments—other | $0 |
| Net Land, buildings, and equipment | $3,573 |
| Other assets | $18,592 |
| Total assets | $29,196,143 |
| Accounts payable and accrued expenses | $31,903 |
| 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 | $29,383 |
| Total liabilities | $61,286 |
Grants Awarded
Over the last fiscal year, Grotto Foundation Inc has awarded $1,228,900 in support to 24 organizations.
| Grant Recipient | Amount |
|---|---|
PROJECT SUCCESS PURPOSE: GENERAL SUPPORT | $100,000 |
Minneapolis, MN PURPOSE: GENERAL SUPPORT | $100,000 |
Minneapolis, MN PURPOSE: OPERATIONAL SUPPORT | $75,000 |
Minneapolis, MN PURPOSE: PATHWAY 2 CAREERS | $75,000 |
St Paul, MN PURPOSE: GENERAL SUPPORT | $75,000 |
PROJECT FOR PRIDE IN LIVING PURPOSE: LEARN & EARN TO ACHIEVE POTENTIAL | $75,000 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Charles K Blandin Foundation Grand Rapids, MN | $0 | $24,073,238 |
Reiman Foundation Inc Pewaukee, WI | $64,480,239 | $12,529,672 |
American Family Insurance Dreams Foundation Inc Madison, WI | $10,733,127 | $6,580,229 |
Joseph And Vera Zilber Charitable Foundation Inc Milwaukee, WI | $301,880,639 | $24,555,392 |
Argosy Foundation Milwaukee, WI | $36,932,110 | $41,277,914 |
Cargill Foundation Minneapolis, MN | $286,172,868 | $105,535,102 |
Schoeneckers Foundation Minneapolis, MN | $145,295,949 | $7,540,866 |
The Curtis L Carlson Family Foundation Minnetonka, MN | $300,826,673 | $21,132,663 |
Principal Financial Group Foundation Inc Des Moines, IA | $217,742,870 | $19,396,180 |
Herbert H Kohl Charities Inc Milwaukee, WI | $19,332,679 | $4,430,173 |
Andreas Foundation Mankato, MN | $70,794,995 | $28,410,107 |
Frechette Family Foundation Minneapolis, MN | $167,055,978 | $9,430,765 |