Clb Foundation
- Assets
- $7.6m
- Revenue
- $144.2k
- Investments
- $6.6m
- Employees
- 0
- Location
- Excelsior, MN
- Founding
- 07/2016
- Data as of
- 12/2022
- EIN
- 81-1617742
Organization Overview
Clb Foundation is located in Excelsior, MN. The organization was established in 2016. According to its NTEE Classification (T50) the organization is classified as: Philanthropy, Charity & Voluntarism Promotion, 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. Clb 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, Clb Foundation generated $144.2k in total revenue. This represents relatively stable growth, over the past 6 years the organization has increased revenue by an average of 7.7% each year. All expenses for the organization totaled $503.9k during the year ending 12/2022. You can explore the organizations financials more deeply in the financial statements section below.
Since 2017, Clb Foundation has awarded 37 individual grants totaling $1,643,900. 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.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Carl R Bergquist President/treasurer | 1 | $0 | |
Elizabeth Bergquist Vice President | 1 | $0 | |
Beverly Nielsen Secretary | 1 | $0 | |
Carolynn Krings Director | 5.5 | $17,055 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $0 |
| Interest on Savings | $0 |
| Dividends & Interest | $317,433 |
| Net Rental Income | $0 |
| Net Gain on Sale of Assets | -$173,264 |
| Capital Gain Net Income | $0 |
| Net ST Capital Gain | $0 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $0 |
| Other Income | $0 |
| Total Revenue | $144,169 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $17,055 |
| Other employee salaries and wages | $0 |
| Pension plans, employee benefits | $900 |
| Interest | $0 |
| Taxes | $5,975 |
| Depreciation | $0 |
| Occupancy | $0 |
| Travel, conferences, and meetings | $0 |
| Printing and publications | $0 |
| Other expenses | $1,001 |
| Total operating and administrative expenses | $38,876 |
| Contributions, gifts, grants paid | $465,000 |
| Total expenses and disbursements | $503,876 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $612,817 |
| Savings and temporary cash investments | $388,439 |
| 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 | $32,296 |
| Total assets | $7,584,281 |
| 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, Clb Foundation has awarded $465,000 in support to 6 organizations.
| Grant Recipient | Amount |
|---|---|
BANYAN FOUNDATION PURPOSE: COMMUNITY OUTREACH | $50,000 |
HILLSDALE COLLEGE PURPOSE: TUITION SPONSORSHIP | $110,000 |
DEER CREEK COMMUNITY CHURCH PURPOSE: MINISTRY OUTREACH | $20,000 |
HOPE FOR THE HURTING HOME PURPOSE: COMMUNITY OUTREACH | $15,000 |
SISTERS RISING WORLDWIDE PURPOSE: FUNDING PROGRAM NEEDS OF SISTERS WORLDWIDE | $50,000 |
SANIBEL COMMUNITY CHURCH PURPOSE: PROGRAM SPONSORSHIP & HURRICANE RELIEF FUND | $220,000 |