Central Minnesota Credit Foundation
- Assets
- $546.3k
- Revenue
- $78.9k
- Investments
- $0.0
- Employees
- 0
- Location
- Melrose, MN
- Founding
- 07/2014
- Data as of
- 12/2021
- EIN
- 61-1690771
Organization Overview
Central Minnesota Credit Foundation is located in Melrose, MN. The organization was established in 2014. 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. Central Minnesota Credit 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 12/2021, Central Minnesota Credit Foundation generated $78.9k in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 2.2% each year. All expenses for the organization totaled $20.8k during the year ending 12/2021. You can explore the organizations financials more deeply in the financial statements section below.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Corey Sand Director | 1 | $0 | |
Gary Meyer Secretary | 1 | $0 | |
Janelle Borgmann Treasurer | 1 | $0 | |
Nancy L Roske Vice President | 1 | $0 | |
Charles B Friederichs President | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $75,596 |
| Interest on Savings | $3,255 |
| Dividends & Interest | $0 |
| Net Rental Income | $0 |
| Net Gain on Sale of Assets | $0 |
| Capital Gain Net Income | $0 |
| Net ST Capital Gain | $0 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $0 |
| Other Income | $0 |
| Total Revenue | $78,851 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $0 |
| Other employee salaries and wages | $0 |
| Pension plans, employee benefits | $0 |
| Interest | $0 |
| Taxes | $103 |
| Depreciation | $0 |
| Occupancy | $0 |
| Travel, conferences, and meetings | $0 |
| Printing and publications | $0 |
| Other expenses | $0 |
| Total operating and administrative expenses | $753 |
| Contributions, gifts, grants paid | $20,000 |
| Total expenses and disbursements | $20,753 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $1,431 |
| Savings and temporary cash investments | $544,908 |
| 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 | $546,339 |
| 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, Central Minnesota Credit Foundation has awarded $20,000 in support to 4 organizations.
| Grant Recipient | Amount |
|---|---|
Little Falls, MN PURPOSE: DOMESTIC VIOLENCE HELP | $5,000 |
PATHWAYS 4 YOUTH PURPOSE: YOUTH PROGRAMS | $5,000 |
SOMEPLACE SAFE PURPOSE: DOMESTIC VIOLENCE HELP | $5,000 |
Richmond, MN PURPOSE: MEDICAL RESEARCH | $5,000 |
Grants Recieved
Over the last fiscal year, we have identified 1 grants that Central Minnesota Credit Foundation has recieved totaling $74,338.
| Awarding Organization | Amount |
|---|---|
Magnifi Financial Credit Union Melrose, MN PURPOSE: SUPPORT OF PRIVATE FOUNDATION TO FURTHER THEIR EXEMPT PURPOSE | $74,338 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
We Energies Foundation Inc Milwaukee, WI | $74,423,525 | $6,027,785 |
3m Foundation St Paul, MN | $11,832,463 | $7,120,220 |
Richard O Jacobson Foundation Inc Des Moines, IA | $24,841,991 | $13,826,505 |
The Ceres Trust Milwaukee, WI | $8,473,497 | $7,541,315 |
New Jci Foundation Inc Milwaukee, WI | $45,616,522 | $3,307,387 |
Hugh J Andersen Foundation Bayport, MN | $156,260,583 | $11,255,430 |
Hall-Perrine Foundation Cedar Rapids, IA | $140,581,654 | $14,980,430 |
Dohmen Company Foundation Inc Milwaukee, WI | $0 | $9,439,356 |
Xcel Energy Foundation Minneapolis, MN | $11,307,736 | $67,424 |
Patrick & Aimee Butler Family Foundation St Paul, MN | $109,951,624 | $8,639,825 |
Mead Witter Foundation Inc Wisconsin Rapids, WI | $51,357,757 | $5,357,467 |
Comer Science And Education Foundation Waukesha, WI | $78,906,538 | $1,965,731 |