Gale Family Foundation
- Assets
- $21.2m
- Revenue
- $688.3k
- Investments
- $20.8m
- Employees
- 0
- Location
- Minneapolis, MN
- Founding
- 10/2007
- Data as of
- 12/2023
- EIN
- 56-2676045
Organization Overview
Gale Family Foundation is located in Minneapolis, MN. The organization was established in 2007. 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. Gale 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.
For the year ending 12/2023, Gale Family Foundation generated $688.3k in total revenue. The organization has seen a slow decline revenue. Over the past 5 years, revenues have fallen by an average of (1.9%) each year. All expenses for the organization totaled $2.2m during the year ending 12/2023. You can explore the organizations financials more deeply in the financial statements section below.
Since 2019, Gale Family Foundation has awarded 219 individual grants totaling $9,536,132. 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
2023
Describe the Organization's Program Activity:
Part 3 - Line 4a
CASH CONTRIBUTIONS TO PUBLIC CHARITIES.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Ed Gale President/director | 1 | $0 | |
Maria Gale Director | 0 | $0 | |
Samuel Gale Treasurer/director | 0 | $0 | |
James Patrick Gale Director | 0 | $0 | |
Sarah Gale Director | 0 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $0 |
| Interest on Savings | $156,620 |
| Dividends & Interest | $522,359 |
| Net Rental Income | $0 |
| Net Gain on Sale of Assets | $9,349 |
| Capital Gain Net Income | $1,850,265 |
| Net ST Capital Gain | $0 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $0 |
| Other Income | $0 |
| Total Revenue | $688,328 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $0 |
| Other employee salaries and wages | $0 |
| Pension plans, employee benefits | $0 |
| Interest | $0 |
| Taxes | $1,112 |
| Depreciation | $0 |
| Occupancy | $0 |
| Travel, conferences, and meetings | $0 |
| Printing and publications | $0 |
| Other expenses | $6,366 |
| Total operating and administrative expenses | $251,433 |
| Contributions, gifts, grants paid | $1,963,133 |
| Total expenses and disbursements | $2,214,566 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $377,903 |
| 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 | $333,602 |
| Net Land, buildings, and equipment | $0 |
| Other assets | $0 |
| Total assets | $21,178,236 |
| 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, Gale Family Foundation has awarded $1,963,133 in support to 43 organizations.
| Grant Recipient | Amount |
|---|---|
ASSOCIATION FOR INDEPENDENT SCHOOL LIBRARIANS PURPOSE: GENERAL UNRESTRICTED | $25,000 |
COMMUNITIES IN SCHOOLS - NEW MEXICO PURPOSE: GENERAL UNRESTRICTED | $20,000 |
AMERICARES PURPOSE: GENERAL UNRESTRICTED | $50,000 |
ENVIRONMENTAL DEFENSE FUND PURPOSE: GENERAL UNRESTRICTED | $7,660 |
FEED MY PEOPLE PURPOSE: GENERAL UNRESTRICTED | $7,660 |
FOSTERING SUCCESS PURPOSE: GENERAL UNRESTRICTED | $10,000 |