Frels Family Foundation
- Assets
- $4.6m
- Revenue
- $160.2k
- Investments
- $3.3m
- Employees
- 0
- Location
- North Oaks, MN
- Founding
- 01/2014
- Data as of
- 12/2022
- EIN
- 45-5629574
Organization Overview
Frels Family Foundation is located in North Oaks, MN. The organization was established in 2014. According to its NTEE Classification (T22) the organization is classified as: Private Independent 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. Frels Family 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 12/2022, Frels Family Foundation generated $160.2k in total revenue. This represents a relatively dramatic decline in revenue. Over the past 6 years, the organization has seen revenues fall by an average of (7.4%) each year. All expenses for the organization totaled $434.4k during the year ending 12/2022. You can explore the organizations financials more deeply in the financial statements section below.
Since 2017, Frels Family Foundation has awarded 125 individual grants totaling $1,320,000. 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
ALL ACTIVITES CONSIST OF GRANTS TO OTHER EXISTING 501(C)(3) ORGANIZATIONS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
William B Frels President | 0 | $0 | |
Bonita M Frels Vice President | 0 | $0 | |
Randall W Frels Secretary | 0 | $0 | |
Blake J Frels Treasurer | 0 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $0 |
| Interest on Savings | $0 |
| Dividends & Interest | $155,278 |
| Net Rental Income | $792 |
| Net Gain on Sale of Assets | $4,117 |
| Capital Gain Net Income | $4,117 |
| Net ST Capital Gain | $0 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $0 |
| Other Income | $0 |
| Total Revenue | $160,187 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $0 |
| Other employee salaries and wages | $0 |
| Pension plans, employee benefits | $0 |
| Interest | $0 |
| Taxes | $1,500 |
| Depreciation | $0 |
| Occupancy | $0 |
| Travel, conferences, and meetings | $0 |
| Printing and publications | $0 |
| Other expenses | $2,591 |
| Total operating and administrative expenses | $5,438 |
| Contributions, gifts, grants paid | $429,000 |
| Total expenses and disbursements | $434,438 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $1,246,802 |
| 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 | $75,287 |
| Net Land, buildings, and equipment | $0 |
| Other assets | $0 |
| Total assets | $4,582,826 |
| Accounts payable and accrued expenses | $0 |
| Grants payable | $15,000 |
| 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 | $15,000 |
Grants Awarded
Over the last fiscal year, Frels Family Foundation has awarded $429,000 in support to 36 organizations.
| Grant Recipient | Amount |
|---|---|
BELLIS PURPOSE: OPERATING SUPPORT | $10,000 |
ALUMS & FRIENDS & FAMILIES PURPOSE: OPERATING SUPPORT | $10,000 |
CATHOLIC SERVICE APPEAL PURPOSE: OPERATING SUPPORT | $10,000 |
CHURCH OF ST ALBERT PURPOSE: OPERATING SUPPORT | $5,000 |
CHURCH OF THE HOLY CROSS PURPOSE: OPERATING SUPPORT | $10,000 |
CSCO PURPOSE: OPERATING SUPPORT | $5,000 |