Robert H Torstenson Family Foundation
- Assets
- $999.7k
- Revenue
- $193.4k
- Investments
- $965.9k
- Employees
- 0
- Location
- Rockford, IL
- Founding
- 08/2002
- Data as of
- 09/2022
- EIN
- 61-1418226
Organization Overview
Robert H Torstenson Family Foundation is located in Rockford, IL. The organization was established in 2002. 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. Robert H Torstenson 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 09/2022, Robert H Torstenson Family Foundation generated $193.4k in total revenue. This organization has experienced exceptional growth, as over the past 7 years, it has increased revenue by an average of 56.2% each year . All expenses for the organization totaled $66.7k during the year ending 09/2022. While expenses have increased by 25.8% per year over the past 7 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.
Since 2017, Robert H Torstenson Family Foundation has awarded 13 individual grants totaling $271,163. 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
TO PROVIDE FUNDING FOR SPECIFIC CHARITABLE, EDUCATIONAL, RELIGIOUS, OR SCIENTIFIC CHARITIES AS PROVIDED BY SECTION 501(C)(3) OF THE INTERNAL REVENUE CODE.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Eric C Torstenson Vice President, Director | 0 | $0 | |
Leslie M Torstenson President, Director | 0 | $0 | |
Brooke J Torstenson Vice President, Director | 0 | $0 | |
Jan H Ohlander Secretary, Director | 0 | $0 | |
Betsy Mathison Treasurer, Director | 0 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $0 |
| Interest on Savings | $0 |
| Dividends & Interest | $21,914 |
| Net Rental Income | $0 |
| Net Gain on Sale of Assets | $171,442 |
| Capital Gain Net Income | $171,442 |
| Net ST Capital Gain | $0 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $0 |
| Other Income | $0 |
| Total Revenue | $193,356 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $0 |
| Other employee salaries and wages | $0 |
| Pension plans, employee benefits | $0 |
| Interest | $0 |
| Taxes | $339 |
| Depreciation | $0 |
| Occupancy | $0 |
| Travel, conferences, and meetings | $0 |
| Printing and publications | $0 |
| Other expenses | $24 |
| Total operating and administrative expenses | $11,400 |
| Contributions, gifts, grants paid | $55,304 |
| Total expenses and disbursements | $66,704 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $33,860 |
| 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 | $0 |
| Net Land, buildings, and equipment | $0 |
| Other assets | $0 |
| Total assets | $999,729 |
| 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, Robert H Torstenson Family Foundation has awarded $55,304 in support to 3 organizations.
| Grant Recipient | Amount |
|---|---|
ILLINOIS CONSERVATION FUND FOR THE PECATONICA PROPERTY PURPOSE: SUPPORT FOR THE PECATONICA PROPERTY | $20,000 |
NOVA UKRAINE PURPOSE: SUPPORT UKRAINE RELIEF | $17,652 |
Boone, NC PURPOSE: SUPPORT UKRAINE RELIEF | $17,652 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Genyouth Inc Rosemont, IL | $9,087,915 | $10,980,091 |
Anheuser-Busch Foundation Clayton, MO | $1,201,059 | $8,412,886 |
Carson-Myre Charitable Foundation Paducah, KY | $72,587,857 | $8,781,396 |
Sondheimer Family Charitable Foundation Wilmette, IL | $0 | $30,820 |
John Joseph Sigstein Foundation Inc Huntington, IN | $0 | $2,327,854 |
Illinois Tool Works Foundation Glenview, IL | $328,623 | $8,500,000 |
Willow Springs Charitable Tr Mt Carroll, IL | $100,115,931 | $21,339,853 |
Hamill Family Foundation Chicago, IL | $55,305,054 | $6,054,241 |
Steward Family Foundation St Louis, MO | $23,736 | $8,567,873 |
We Energies Foundation Inc Milwaukee, WI | $74,423,525 | $6,027,785 |
Grand Victoria Foundation Chicago, IL | $167,134,023 | $22,046,260 |
Richard O Jacobson Foundation Inc Des Moines, IA | $24,841,991 | $13,826,505 |