Virgil And Marjorie Norgaard Educational Tr
- Assets
- $208.8k
- Revenue
- $15.1k
- Investments
- $205.8k
- Employees
- 0
- Location
- Litchfield, MN
- Founding
- 08/2014
- Data as of
- 12/2021
- EIN
- 46-6269625
Organization Overview
Virgil And Marjorie Norgaard Educational Tr is located in Litchfield, MN. The organization was established in 2014. According to its NTEE Classification (T19) the organization is classified as: Support 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. Virgil And Marjorie Norgaard Educational Tr 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, Virgil And Marjorie Norgaard Educational Tr generated $15.1k in total revenue. This represents relatively stable growth, over the past 6 years the organization has increased revenue by an average of 8.5% each year. All expenses for the organization totaled $24.0k during the year ending 12/2021. While expenses have increased by 5.3% per year over the past 6 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.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Stephen C Sperry Trustee | 0.5 | $0 | |
Larry N Jensen Trustee | 0.5 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $0 |
| Interest on Savings | $0 |
| Dividends & Interest | $4,921 |
| Net Rental Income | $0 |
| Net Gain on Sale of Assets | $10,075 |
| Capital Gain Net Income | $10,075 |
| Net ST Capital Gain | $0 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $0 |
| Other Income | $64 |
| Total Revenue | $15,060 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $0 |
| Other employee salaries and wages | $0 |
| Pension plans, employee benefits | $0 |
| Interest | $0 |
| Taxes | $185 |
| Depreciation | $0 |
| Occupancy | $0 |
| Travel, conferences, and meetings | $0 |
| Printing and publications | $0 |
| Other expenses | $0 |
| Total operating and administrative expenses | $5,989 |
| Contributions, gifts, grants paid | $18,000 |
| Total expenses and disbursements | $23,989 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $3,033 |
| 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 | $208,835 |
| 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 | $0 |
| Total liabilities | $0 |
Grants Awarded
Over the last fiscal year, Virgil And Marjorie Norgaard Educational Tr has awarded $18,000 in support to 8 organizations.
| Grant Recipient | Amount |
|---|---|
HAZEL E CHVATAL PURPOSE: SCHOLARSHIP | $4,000 |
LAKE AREA TECHNICAL COLLEGE PURPOSE: SCHOLARSHIP | $2,000 |
LEVI SCHMIDT PURPOSE: SCHOLARSHIP | $2,000 |
LILY OSTERBERG PURPOSE: SCHOLARSHIP | $2,000 |
St Paul, MN PURPOSE: SCHOLARSHIP | $2,000 |
MEGHAN MCCLAIN PURPOSE: SCHOLARSHIP | $2,000 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Csb Charitable Foundation Norwalk, IA | $1,614,540 | $993,863 |
Hastings Rotary Foundation Hastings, MN | $19,481 | $0 |
Just For Kids Foundation Maple Grove, MN | $13,140 | $0 |
Pleasant Hill Arts Foundation Pleasant Hill, IA | $54,694 | $44,735 |
Dcb Foundation Cedar Rapids, IA | $2,606,079 | $91,305 |
Virgil And Marjorie Norgaard Educational Tr Litchfield, MN | $208,835 | $15,060 |
Community Real Estate And Personal Property Foundation Inc Appleton, WI | $3,808,394 | $72,043 |
Moelter Foundation Ltd Lake Geneva, WI | $354,817 | $9,100 |
Easytech Nonprofit Inver Grove Heights, MN | $1,442 | $0 |