Mortensen Family Foundation
- Assets
- $173.1k
- Revenue
- -$8.8k
- Investments
- $173.1k
- Employees
- 0
- Location
- Afton, MN
- Founding
- 03/2015
- Data as of
- 12/2022
- EIN
- 47-2613176
Organization Overview
Mortensen Family Foundation is located in Afton, MN. The organization was established in 2015. According to its NTEE Classification (T20) the organization is classified as: Private Grantmaking 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. Mortensen 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.
Since 2016, Mortensen Family Foundation has awarded 22 individual grants totaling $751,500. 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.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
David Mortensen Trustee | 1 | $0 | |
Nicolle Mortensen Trustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $3,100 |
| Interest on Savings | $23 |
| Dividends & Interest | $7,223 |
| Net Rental Income | $0 |
| Net Gain on Sale of Assets | -$19,184 |
| Capital Gain Net Income | $0 |
| Net ST Capital Gain | $0 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $0 |
| Other Income | $0 |
| Total Revenue | -$8,838 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $0 |
| Other employee salaries and wages | $0 |
| Pension plans, employee benefits | $0 |
| Interest | $0 |
| Taxes | $0 |
| Depreciation | $0 |
| Occupancy | $0 |
| Travel, conferences, and meetings | $0 |
| Printing and publications | $0 |
| Other expenses | $38 |
| Total operating and administrative expenses | $4,092 |
| Contributions, gifts, grants paid | $300,500 |
| Total expenses and disbursements | $304,592 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $0 |
| 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 | $173,112 |
| Net Land, buildings, and equipment | $0 |
| Other assets | $0 |
| Total assets | $173,112 |
| 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 | $4,190 |
| Total liabilities | $4,190 |
Grants Awarded
Over the last fiscal year, Mortensen Family Foundation has awarded $300,500 in support to 6 organizations.
| Grant Recipient | Amount |
|---|---|
LIGHT THE WAY CHURCH PURPOSE: SUPPORT THE WORD OF GOD | $24,000 |
NEW LIFE ACADEMY EDUCATIONAL FOUNDATION INC PURPOSE: GENERAL SUPPORT | $16,000 |
SPECIAL OLYMPICS PURPOSE: GENERAL SUPPORT | $5,000 |
AMERICA'S CHARITIES PURPOSE: GENERAL SUPPORT | $100,000 |
EAGAN COMMUNITY FOUNDATION PURPOSE: GENERAL SUPPORT | $500 |
TREEHOUSE INC PURPOSE: SUPPORT CHILDREN IN NEED | $155,000 |