John E Desmond And Janet C Desmond Foundation
- Assets
- $1.7m
- Revenue
- $49.8k
- Investments
- $1.6m
- Employees
- 0
- Location
- Edina, MN
- Founding
- 02/2004
- Data as of
- 12/2022
- EIN
- 52-2436538
Organization Overview
John E Desmond And Janet C Desmond Foundation is located in Edina, MN. The organization was established in 2004. According to its NTEE Classification (T22) the organization is classified as: Private Independent 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. John E Desmond And Janet C Desmond 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 12/2022, John E Desmond And Janet C Desmond Foundation generated $49.8k 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 (3.6%) each year. All expenses for the organization totaled $175.5k during the year ending 12/2022. You can explore the organizations financials more deeply in the financial statements section below.
Since 2016, John E Desmond And Janet C Desmond Foundation has awarded 68 individual grants totaling $826,869. 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
990PF
Mission & Program ActivityExcerpts From the 990PF Filing
TAX YEAR
2022
Describe the Organization's Program Activity:
Part 3 - Line 4a
GENERAL DONATIONS TO 11 ORGANIZATIONS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Ernest A Lindstrom Secretary | 2 | $37,000 | |
Robert P Everett President | 1 | $0 | |
Rodney L Beltz Vice President | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $0 |
| Interest on Savings | $169 |
| Dividends & Interest | $53,708 |
| Net Rental Income | $0 |
| Net Gain on Sale of Assets | -$4,028 |
| Capital Gain Net Income | $0 |
| Net ST Capital Gain | $0 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $0 |
| Other Income | $0 |
| Total Revenue | $49,849 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $37,000 |
| Other employee salaries and wages | $0 |
| Pension plans, employee benefits | $0 |
| Interest | $0 |
| Taxes | $1,016 |
| Depreciation | $0 |
| Occupancy | $0 |
| Travel, conferences, and meetings | $0 |
| Printing and publications | $0 |
| Other expenses | $25 |
| Total operating and administrative expenses | $51,476 |
| Contributions, gifts, grants paid | $124,000 |
| Total expenses and disbursements | $175,476 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $16,373 |
| Savings and temporary cash investments | $115,552 |
| 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 | $1,028,870 |
| Net Land, buildings, and equipment | $0 |
| Other assets | $0 |
| Total assets | $1,698,453 |
| 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, John E Desmond And Janet C Desmond Foundation has awarded $124,000 in support to 9 organizations.
| Grant Recipient | Amount |
|---|---|
BANYAN COMMUNITY PURPOSE: GENERAL DONATION | $10,000 |
BIG IDEAS INC PURPOSE: GENERAL DONATION | $17,000 |
CORNER HOUSE PURPOSE: GENERAL DONATION | $15,000 |
HENNEPIN TECHNICAL COLLEGE FOUNDATION PURPOSE: GENERAL DONATION | $11,000 |
MIDWEST SHOWMEN'S ASSOC PURPOSE: SCHOLARSHIPS | $1,500 |
MINNESOTA STATE FAIR FOUNDATION PURPOSE: GENERAL DONATION | $5,000 |