Bancroft Community Foundation Inc

Organization Overview

Bancroft Community Foundation Inc is located in Algona, IA. The organization was established in 1998. According to its NTEE Classification (T31) the organization is classified as: Community 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. Bancroft Community 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 06/2022, Bancroft Community Foundation Inc generated $1.3m in total revenue. This organization has experienced exceptional growth, as over the past 7 years, it has increased revenue by an average of 40.3% each year . All expenses for the organization totaled $86.1k during the year ending 06/2022. While expenses have increased by 7.5% 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.

Mission & Program ActivityExcerpts From the 990 Filing

TAX YEAR

2022

Describe the Organization's Mission:

Part 3 - Line 1

THE FOUNDATION WAS CREATED TO RAISE FUNDS AND DISTRIBUTE GRANTS FOR CIVIC BETTERMENT PROJECTS IN THE CITY OF BANCROFT, IOWA, WHICH COULD NOT OTHERWISE BE FUNDED BY TAX DOLLARS DUE TO BUDGET CONSTRAINTS.

Describe the Organization's Program Activity:

Part 3 - Line 4a

THE FOUNDATION MADE GRANTS TO SUPPORT BANCROFT CHAMBER OF COMMERCE ($1,397); KIDSTOP DAYCARE ($1,000). TOTAL = $2,397. THOSE WERE ALL OF THE MONETARY GRANTS FOR THE FISCAL YEAR.THE FOUNDATION CONTINUED ITS LONG-TERM PROJECT TO PROVIDE A MEDICAL FACILITY TO THE COMMUNITY. IT ALSO PROCEEDED WITH A LONG TERM CIVIC IMPROVEMENT PROJECT OF RESTORATION OF A CITY BUILDING TO PROVIDE A NEEDED COMMUNITY BUSINESS OPPORTUNITY. MOST OF THE DONATIONS, RENT AND CAPITAL EXPENDITURES RELATED TO THESE PROJECTS, WHICH WERE NOT IN THE FORM OF DIRECT GRANTS. THE FOUNDATION BUILT AND OWNS THE MEDICAL CENTER, WHICH IS RENTED TO THE CITY AND THE AREA NONPROFIT HOSPITAL TO PROVIDE MEDICAL SERVICES TO RESIDENTS. RENTS RECEIVED FROM THOSE SOURCES ARE USED TO RETIRE CONSTRUCTION DEBT ON THE FACILITY AND TO PAY EXPENSES OF THE FACILITY.


Get More from Intellispect for FreeCreate a free account to get more data, nonprofit salaries, advanced search and more.

Financial Statements

Statement of Revenue
Federated campaigns$0
Membership dues$0
Fundraising events$0
Related organizations$0
Government grants $0
All other contributions, gifts, grants, and similar amounts not included above$1,298,284
Noncash contributions included in lines 1a–1f $0
Total Revenue from Contributions, Gifts, Grants & Similar$1,298,284
Total Program Service Revenue$0
Investment income $5,209
Tax Exempt Bond Proceeds $0
Royalties $0
Net Rental Income -$23,524
Net Gain/Loss on Asset Sales $0
Net Income from Fundraising Events $0
Net Income from Gaming Activities $0
Net Income from Sales of Inventory $0
Miscellaneous Revenue$0
Total Revenue $1,279,969

Create an account to unlock the data you need.

or