Brookings Foundation
- Assets
- $2.7m
- Revenue
- $841.2k
- Investments
- $0.0
- Employees
- 1
- Location
- Brookings, SD
- Founding
- 08/1977
- Data as of
- 03/2022
- EIN
- 46-0342366
Organization Overview
Brookings Foundation is located in Brookings, SD. The organization was established in 1977. According to its NTEE Classification (T90) the organization is classified as: Named Trusts N.E.C., 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. Brookings 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 03/2022, Brookings Foundation generated $841.2k in total revenue. This organization has experienced exceptional growth, as over the past 7 years, it has increased revenue by an average of 17.9% each year . All expenses for the organization totaled $266.5k during the year ending 03/2022. While expenses have increased by 1.9% 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.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2022
Describe the Organization's Mission:
Part 3 - Line 1
PROVIDE ASSISTANCE TO MEET NEEDS IN BROOKINGS, SOUTH DAKOTA THROUGH SIXTEEN SEPARATE FUNDS, WHICH CONSIST PRIMARILY OF DONOR DESIGNATED FUNDS.
Describe the Organization's Program Activity:
Part 3 - Line 4a
A FUND ENTITLED "COVID-19 RELIEF FUND" PROVIDES GRANTS TO NONPROFIT AGENCIES ASSISTING INDIVIDUALS AND FAMILIES AFFECTED BY THE COVID-19 PANDEMIC.
THE LARSON SCHOLARSHIP FUND PROVIDED $1800 SCHOLARSHIPS TO POST SECONDARY STUDENTS SHOWING SCHOLASTIC MERIT AND ACADEMIC PROMISE.
A FUND ENTITLED "BROOKINGS BACK TO SCHOOL PROJECT" PROVIDED FUNDING TO PROVIDE SCHOOL SUPPLIES FOR CHILDREN ATTENDING BROOKINGS SCHOOLS.
ALL OTHER FUNDS
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Kurt Osborne Director, Treasurer | OfficerTrustee | 5 | $7,700 |
Darcie Bien Secretary | OfficerTrustee | 1 | $0 |
Dan Beinhorn President | OfficerTrustee | 1 | $0 |
Erik Dahl Director | Trustee | 1 | $0 |
Victoria Blatchford Director | Trustee | 1 | $0 |
Marjoanne Thompson Director | 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 | $734,187 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $734,187 |
| Total Program Service Revenue | $0 |
| Investment income | $63,010 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $44,020 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $841,217 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $116,419 |
| Grants and other assistance to domestic individuals. | $132,076 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $7,700 |
| Compensation of current officers, directors, key employees. | $7,700 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $0 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $2,705 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $854 |
| Fees for services: Accounting | $256 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $0 |
| Office expenses | $0 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $821 |
| All other expenses | $0 |
| Total functional expenses | $266,457 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $1,016,085 |
| Pledges and grants receivable | $0 |
| 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 | $0 |
| Net Land, buildings, and equipment | $0 |
| Investments—publicly traded securities | $1,664,032 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $2,680,117 |
| Accounts payable and accrued expenses | $0 |
| Grants payable | $0 |
| 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 | $0 |
| Total liabilities | $0 |
| Net assets without donor restrictions | $0 |
| Net assets with donor restrictions | $2,680,117 |
| 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 | $2,680,117 |
Grants Awarded
Over the last fiscal year, Brookings Foundation has awarded $100,831 in support to 4 organizations.
| Grant Recipient | Amount |
|---|---|
Brookings, SD PURPOSE: Complete Distribution | $40,831 |
Brookings, SD PURPOSE: Covid Relief | $20,000 |
Brookings, SD PURPOSE: Covid Relief | $20,000 |
Brookings, SD PURPOSE: Covid Relief | $20,000 |
Grants Recieved
Over the last fiscal year, we have identified 2 grants that Brookings Foundation has recieved totaling $77,431.
| Awarding Organization | Amount |
|---|---|
Brookings Foundation Brookings, SD PURPOSE: Complete Distribution | $40,831 |
Brookings Area United Way Brookings, SD PURPOSE: FINANCIAL ASSISTANCE | $36,600 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Suzanne And Walter Scott Foundation Omaha, NE | $379,612,870 | $69,664,147 |
Woodbourne Charitable Trust Plymouth, MN | $1,142,964 | $10,020,932 |
James M Stanton Foundation Bloomington, MN | $29,105,685 | $38,323,984 |
Cokato Charitable Trust Cokato, MN | $9,103,416 | $8,785,306 |
William H And Carrie Gottsche Foundation Thermopolis, WY | $15,267,869 | $5,413,273 |
Jay And Rose Phillips Family Foundation Of Minnesota Minneapolis, MN | $65,545,808 | $6,097,586 |
Hennessey Charitable Trust Dubuque, IA | $69,986,391 | $0 |
Emerald Gate Charitable Trust Jackson, WY | $143,120,759 | $36,236,406 |
Marie H Bechtel Charitable Trust Davenport, IA | $48,721,172 | $1,150,391 |
Ciresi Walburn Foundation For Children Minneapolis, MN | $31,215,919 | $1,296,068 |
Holthues Tr Muscatine, IA | $22,886,855 | $2,685,899 |
Newton Foundation Jackson, WY | $19,007,412 | $862,510 |