Eddy Foundation
- Assets
- $3.4m
- Revenue
- $249.6k
- Investments
- $3.2m
- Employees
- 0
- Location
- Duluth, MN
- Founding
- 08/1983
- Data as of
- 06/2023
- EIN
- 41-6242226
Organization Overview
Eddy Foundation is located in Duluth, MN. The organization was established in 1983. 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. Eddy 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 06/2023, Eddy Foundation generated $249.6k in total revenue. This represents relatively stable growth, over the past 3 years the organization has increased revenue by an average of 9.0% each year. All expenses for the organization totaled $252.2k during the year ending 06/2023. You can explore the organizations financials more deeply in the financial statements section below.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Elizabeth H Simonson Co-Trustee | 1 | $3,980 | |
Rodney Edwards Co-Trustee | 1 | $3,980 | |
North Shore Bank Of Commerce Co-Trustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $0 |
| Interest on Savings | $13,558 |
| Dividends & Interest | $69,475 |
| Net Rental Income | $0 |
| Net Gain on Sale of Assets | $166,591 |
| Capital Gain Net Income | $44,590 |
| Net ST Capital Gain | $0 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $0 |
| Other Income | $0 |
| Total Revenue | $249,624 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $7,960 |
| Other employee salaries and wages | $0 |
| Pension plans, employee benefits | $0 |
| Interest | $0 |
| Taxes | $3,152 |
| Depreciation | $0 |
| Occupancy | $0 |
| Travel, conferences, and meetings | $1,947 |
| Printing and publications | $0 |
| Other expenses | $0 |
| Total operating and administrative expenses | $59,078 |
| Contributions, gifts, grants paid | $193,130 |
| Total expenses and disbursements | $252,208 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $269,644 |
| 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 | $3,170,036 |
| Net Land, buildings, and equipment | $0 |
| Other assets | $0 |
| Total assets | $3,439,680 |
| 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, Eddy Foundation has awarded $193,130 in support to 2 organizations.
| Grant Recipient | Amount |
|---|---|
COURAGE KENNY NORTHLAND PURPOSE: GRANT | $10,000 |
UNIVERSITY OF MN FOUNDATION PURPOSE: GRANT | $183,130 |