Fargo-Moorhead Area Foundation Corporation
- Assets
- $109.6m
- Revenue
- $8.0m
- Investments
- $735.0k
- Employees
- 8
- Location
- Fargo, ND
- Founding
- 10/1960
- Data as of
- 12/2023
- EIN
- 45-6010377
Organization Overview
Fargo-Moorhead Area Foundation Corporation is located in Fargo, ND. The organization was established in 1960. 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. As of 12/2023, Fargo-Moorhead Area Foundation Corporation employed 8 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Fargo-Moorhead Area Foundation Corporation 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 12/2023, Fargo-Moorhead Area Foundation Corporation generated $8.0m in total revenue. This represents relatively stable growth, over the past 9 years the organization has increased revenue by an average of 4.7% each year. All expenses for the organization totaled $9.2m during the year ending 12/2023. While expenses have increased by 12.7% per year over the past 9 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 2014, Fargo-Moorhead Area Foundation Corporation has awarded 1,256 individual grants totaling $44,224,230. 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
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2023
Describe the Organization's Mission:
Part 3 - Line 1
WE HELP DONORS MAXIMIZE THEIR PHILANTHROPY TO CREATE A VIBRANT COMMUNITY FULL OF OPPORTUNITIES FOR EVERYONE.
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE FOUNDATION IS A COMMUNITY TRUST THAT ADMINISTERS 504 CHARITABLE FUNDS. THESE FUNDS ARE CREATED BY CONTRIBUTIONS FROM THE GENERAL PUBLIC. GRANTS WERE AWARDED IN PROGRAMS IN THE FOLLOWING AREAS: COMMUNITY BUILDING - 16%; BASIC HUMAN NEEDS - 17%; ART - 5%; EDUCATION - 19%; YOUTH - 12%; RELIGION - 11%; HEALTH & WELLNESS - 11%; ANIMAL WELFARE - 3%; OTHER - 6%. THESE GRANTS AND SCHOLARSHIPS WERE MADE POSSIBLE FROM THE FOLLOWING TYPES OF FUNDS: DONOR ADVISED - 71%, DESIGNATED - 9%, FIELD OF INTEREST - 7%, AGENCY - 3%, SCHOLARSHIP - 4%, AND UNRESTRICTED - 6%.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
April Walker Immediate Past Chair | OfficerTrustee | 2 | $0 |
Katrina Turman-Lang Chair | OfficerTrustee | 3 | $0 |
Toni Sandin Vice Chair | OfficerTrustee | 1 | $0 |
Gary Nolte Treasurer | OfficerTrustee | 2 | $0 |
Don Haugen Director | Trustee | 2 | $0 |
Sandy Korbel Trustee Representative | Trustee | 1 | $0 |
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 | $5,943,790 |
| Noncash contributions included in lines 1a–1f | $2,464,234 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $5,943,790 |
| Total Program Service Revenue | $0 |
| Investment income | $2,887,780 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $226,655 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | -$1,023,890 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $8,034,362 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $6,842,014 |
| Grants and other assistance to domestic individuals. | $285,650 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $365,167 |
| Compensation of current officers, directors, key employees. | $273,830 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $292,070 |
| Pension plan accruals and contributions | $11,687 |
| Other employee benefits | $79,148 |
| Payroll taxes | $43,114 |
| Fees for services: Management | $2,150 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $41,241 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $619,760 |
| Fees for services: Other | $0 |
| Advertising and promotion | $45,450 |
| Office expenses | $75,915 |
| Information technology | $58,227 |
| Royalties | $0 |
| Occupancy | $4,832 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $48,224 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $39,697 |
| Insurance | $7,807 |
| All other expenses | $0 |
| Total functional expenses | $9,175,156 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $143 |
| Savings and temporary cash investments | $4,634,121 |
| Pledges and grants receivable | $1,524,994 |
| Accounts receivable, net | $0 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $31,363 |
| Net Land, buildings, and equipment | $476,301 |
| Investments—publicly traded securities | $100,560,340 |
| Investments—other securities | $735,031 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $1,659,447 |
| Total assets | $109,621,740 |
| Accounts payable and accrued expenses | $21,577 |
| Grants payable | $9,220 |
| Deferred revenue | $0 |
| Tax-exempt bond liabilities | $0 |
| Escrow or custodial account liability | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $0 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $1,835,746 |
| Total liabilities | $1,866,543 |
| Net assets without donor restrictions | $464,168 |
| Net assets with donor restrictions | $107,291,029 |
| Capital stock or trust principal, or current funds | $0 |
| Paid-in or capital surplus, or land, building, or equipment fund | $0 |
| Retained earnings, endowment, accumulated income, or other funds | $0 |
| Total liabilities and net assets/fund balances | $109,621,740 |
Grants Awarded
Over the last fiscal year, Fargo-Moorhead Area Foundation Corporation has awarded $5,843,710 in support to 144 organizations.
| Grant Recipient | Amount |
|---|---|
ANNE CARLSON CENTER PURPOSE: SUPPORT LAND PURCHASE | $1,000,000 |
KINDRED YOUTH BASEBALL PURPOSE: GENERAL SUPPORT | $500,000 |
THE CAPSTONE ACADEMY PURPOSE: CAPITAL CAMPAIGN | $500,000 |
UMD NEWMAN CATHOLIC CAMPUS MINISTRY PURPOSE: GENERAL SUPPORT | $250,000 |
HOSPICE OF THE RED RIVER VALLEY PURPOSE: $200,000-GENERAL SUPPORT, $10,000-SUPPORT HOUSE FACILITY | $210,000 |
VALLEY SENIOR SERVICES PURPOSE: GENERAL SUPPORT | $174,472 |