Greater White Bear Lake Community Foundation
- Assets
- $4.6m
- Revenue
- $491.0k
- Investments
- $0.0
- Employees
- 0
- Location
- White Bear Lake, MN
- Founding
- 10/2015
- Data as of
- 12/2023
- EIN
- 47-3487091
Organization Overview
Greater White Bear Lake Community Foundation is located in White Bear Lake, MN. The organization was established in 2015. According to its NTEE Classification (T30) the organization is classified as: Public 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. Greater White Bear Lake Community 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 12/2023, Greater White Bear Lake Community Foundation generated $491.0k in total revenue. This represents a relatively dramatic decline in revenue. Over the past 7 years, the organization has seen revenues fall by an average of (9.4%) each year. All expenses for the organization totaled $457.2k during the year ending 12/2023. You can explore the organizations financials more deeply in the financial statements section below.
Since 2017, Greater White Bear Lake Community Foundation has awarded 57 individual grants totaling $2,206,230. 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
THE MISSION OF THE GREATER WHITE BEAR LAKE COMMUNITY FOUNDATION IS TO INSPIRE PHILANTHROPY AND ENRICH THE LIVES OF PEOPLE WHO LIVE IN THE COMMUNITIES THAT SHARE THE SHORES OF WHITE BEAR LAKE.
Describe the Organization's Program Activity:
Part 3 - Line 4a
DURING 2023, THE ORGANIZATION DISTRIBUTED $297,000 IN GRANTS TO ENRICH THE LIVES OF PEOPLE IN THE COMMUNITIES THAT SHARE THE SHORES OF WHITE BEAR LAKE. 61 GRANTS WERE GIVEN IN 2023. 26 COMPETITIVE GRANTS TOTALING $103,500 WERE AWARDED FROM THE COMMUNITY PARTNERS FUND, 34 GRANTS TOTALING $188,500 WERE ISSUED FROM DONOR ADVISED FUNDS, AND 1 GRANT TOTALING $5,000 WERE ISSUED FROM FIELD OF INTEREST FUNDS, DESIGNATED FUNDS AND OTHERS.
THE LEADERSHIP TOMORROW SERIES IS A PROGRAM TO CREATE A NEW GENERATION OF COMMUNITY LEADERS. SELECTED PARTICIPANTS ATTEND MONTHLY PROGRAMS FOR 10 MONTHS OF THE YEAR TO LEARN LEADERSHIP CONCEPTS AND SKILLS AND TO BECOME AWARE OF COMMUNITY ISSUES AND RESOURCES. THERE WERE 19 PARTICIPANTS IN THE PROGRAM IN 2023.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Tim Torgerson Chair | OfficerTrustee | 5 | $0 |
Carol Mcfarlane Vice-Chair | OfficerTrustee | 5 | $0 |
Karen Alnes Secretary | OfficerTrustee | 2 | $0 |
Dave Swanson Treasurer | OfficerTrustee | 6 | $0 |
Craig Drake Board Member | Trustee | 2 | $0 |
Bill Foussard Board Member | Trustee | 2 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $102,950 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $286,567 |
| Noncash contributions included in lines 1a–1f | $40,905 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $389,517 |
| Total Program Service Revenue | $16,500 |
| Investment income | $128,567 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | -$35,544 |
| Net Income from Fundraising Events | -$10,116 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $490,957 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $297,000 |
| Grants and other assistance to domestic individuals. | $0 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $23,395 |
| Compensation of current officers, directors, key employees. | $3,679 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $0 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $0 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $56,989 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $22,504 |
| Fees for services: Other | $26,154 |
| Advertising and promotion | $1,886 |
| Office expenses | $9,125 |
| Information technology | $12,530 |
| Royalties | $0 |
| Occupancy | $780 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $564 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $719 |
| All other expenses | $0 |
| Total functional expenses | $457,191 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $478,644 |
| Savings and temporary cash investments | $0 |
| 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 | $4,103,111 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $4,581,755 |
| Accounts payable and accrued expenses | $79 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| Tax-exempt bond liabilities | $0 |
| Escrow or custodial account liability | $210,321 |
| 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 | $210,400 |
| Net assets without donor restrictions | $3,162,866 |
| Net assets with donor restrictions | $1,208,489 |
| 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 | $4,581,755 |
Grants Awarded
Over the last fiscal year, Greater White Bear Lake Community Foundation has awarded $205,400 in support to 15 organizations.
| Grant Recipient | Amount |
|---|---|
WHITE BEAR LAKE AREA SCHOOL DISTRICT PURPOSE: MANY FACES EXPRESSIONS AND IT'S ALL ABOUT FOOD | $9,900 |
LAKESHORE PLAYERS PURPOSE: CONNECTING ART TO THE COMMUNITY | $7,500 |
NEWTRAX PURPOSE: SENIORS IN THE COMMUNITY | $15,000 |
WHITE BEAR LAKE EMERGENCY FOOD SHELF PURPOSE: COMMUNITY MARKET & GIVE A GOBBLE | $7,500 |
WHITE BEAR AREA HISTORICAL SOCIETY PURPOSE: SUMMER YOUTH ED PROGRAM & OPERATIONS | $7,500 |
BETHEL UNIVERSITY PURPOSE: DIVERSITY STUDY ROOM | $15,000 |