Walter C Rasmussen Foundation
- Assets
- $30.4k
- Revenue
- $229.0k
- Investments
- $0.0
- Employees
- 0
- Location
- Minneapolis, MN
- Founding
- 03/1994
- Data as of
- 12/2021
- EIN
- 41-6373302
Organization Overview
Walter C Rasmussen Foundation is located in Minneapolis, MN. The organization was established in 1994. 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. Walter C Rasmussen 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 12/2021, Walter C Rasmussen Foundation generated $229.0k in total revenue. This organization has experienced exceptional growth, as over the past 4 years, it has increased revenue by an average of 27.2% each year . All expenses for the organization totaled $230.8k during the year ending 12/2021. While expenses have increased by 27.0% per year over the past 4 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 2019, Walter C Rasmussen Foundation has awarded 304 individual grants totaling $561,836. 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 |
|---|---|---|---|
Belva H Rasmussen Board Chair/president | 0.5 | $0 | |
Benjamin T Rasmussen Director/vice President | 0.02 | $0 | |
Pamela M Harris Director/secretary | 0.5 | $0 | |
Robert A Guzy Director/treasurer | 0.02 | $0 | |
Eva B Rasmussen Director | 0.02 | $0 | |
Charles L Huntley Director | 0.02 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $229,022 |
| Interest on Savings | $22 |
| Dividends & Interest | $0 |
| Net Rental Income | $0 |
| Net Gain on Sale of Assets | $0 |
| Capital Gain Net Income | $0 |
| Net ST Capital Gain | $0 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $0 |
| Other Income | $0 |
| Total Revenue | $229,044 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $0 |
| Other employee salaries and wages | $0 |
| Pension plans, employee benefits | $0 |
| Interest | $0 |
| Taxes | $0 |
| Depreciation | $0 |
| Occupancy | $0 |
| Travel, conferences, and meetings | $0 |
| Printing and publications | $0 |
| Other expenses | $50 |
| Total operating and administrative expenses | $9,677 |
| Contributions, gifts, grants paid | $221,136 |
| Total expenses and disbursements | $230,813 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $30,444 |
| Savings and temporary cash investments | $0 |
| 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 | $0 |
| Net Land, buildings, and equipment | $0 |
| Other assets | $0 |
| Total assets | $30,444 |
| 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 | $24,077 |
| Total liabilities | $24,077 |
Grants Awarded
Over the last fiscal year, Walter C Rasmussen Foundation has awarded $221,136 in support to 109 organizations.
| Grant Recipient | Amount |
|---|---|
MERCY MEDICAL FOUNDATION PURPOSE: COMMUNITY DEVELOPMENT | $50,000 |
THE BETA GROUP PURPOSE: GENERAL SUPPORT | $24,000 |
FRIENDS OF RAMSEY LIBRARY (NB) PURPOSE: GENERAL SUPPORT | $10,000 |
ISD #13 PURPOSE: COMMUNITY DEVELOPMENT | $8,536 |
Minneapolis, MN PURPOSE: COMMUNITY DEVELOPMENT | $6,000 |
MINNESOTA MEDICAL FOUNDATION PURPOSE: GENERAL SUPPORT | $5,000 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Otto Bremer Trust St Paul, MN | $1,543,197,073 | $135,875,116 |
The Robert D And Patricia E Kern Family Foundation Inc Waukesha, WI | $717,991,169 | $43,480,423 |
The Richard M Schulze Family Foundation Minneapolis, MN | $250,424,427 | $45,882,285 |
Fred C And Katherine B Andersen Foundation Bayport, MN | $1,210,701,778 | $63,445,932 |
Manitou Fund White Bear Lake, MN | $1,003,593,689 | $40,882,622 |
Lynne & Andrew Redleaf Foundation Minneapolis, MN | $127,717,345 | $981,960 |
Northwest Area Foundation St Paul, MN | $512,755,007 | $38,144,816 |
U S Bancorp Foundation Milwaukee, WI | $68,350,907 | $6,892,078 |
Medtronic Communities Foundation Minneapolis, MN | $54,271,830 | $230,239 |
General Mills Foundation Minneapolis, MN | $0 | -$304,053 |
J A Wedum Foundation Plymouth, MN | $141,295,178 | $28,441,684 |
Bader Philanthropies Inc Milwaukee, WI | $26,809,232 | $30,829,351 |