Fred & Cheri Kershisnik Foundation
- Assets
- $970.8k
- Revenue
- $78.1k
- Investments
- $0.0
- Employees
- 0
- Location
- Minneapolis, MN
- Founding
- 06/2017
- Data as of
- 12/2023
- EIN
- 81-4720527
Organization Overview
Fred & Cheri Kershisnik Foundation is located in Minneapolis, MN. The organization was established in 2017. 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. Fred & Cheri Kershisnik 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, Fred & Cheri Kershisnik Foundation generated $78.1k in total revenue. This represents a relatively dramatic decline in revenue. Over the past 6 years, the organization has seen revenues fall by an average of (4.1%) each year. All expenses for the organization totaled $72.4k during the year ending 12/2023. As we would expect to see with falling revenues, expenses have declined by (8.7%) per year over the past 6 years. You can explore the organizations financials more deeply in the financial statements section below.
Since 2017, Fred & Cheri Kershisnik Foundation has awarded 21 individual grants totaling $459,000. 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
CONTRIBUTIONS TO SUPPORT OLGS
CONTRIBUTIONS TO SUPPORT THE FUTERANCE OF THE CATHOLIC FAITH
CONTRIBUTIONS TO SUPPORT CATHOLIC PRIESTS
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Fred Kershisnik Director | 0 | $0 | |
Cheryl Kershisnik Director | 0 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $67,749 |
| Interest on Savings | $10,303 |
| 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 | $78,052 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $0 |
| Other employee salaries and wages | $0 |
| Pension plans, employee benefits | $0 |
| Interest | $0 |
| Taxes | $0 |
| Depreciation | $0 |
| Occupancy | $0 |
| Travel, conferences, and meetings | $0 |
| Printing and publications | $0 |
| Other expenses | $5,000 |
| Total operating and administrative expenses | $5,425 |
| Contributions, gifts, grants paid | $67,000 |
| Total expenses and disbursements | $72,425 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $970,772 |
| 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 | $970,772 |
| 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, Fred & Cheri Kershisnik Foundation has awarded $67,000 in support to 3 organizations.
| Grant Recipient | Amount |
|---|---|
APASTOLATE OF OGLS PURPOSE: OPERATIONS | $12,000 |
CATHOLIC FAMILY NEWS PURPOSE: CATHOLIC NEWS & PROMOTION | $30,000 |
THE ROMAN FORUM PURPOSE: FOR SYMPOSIUM CONFERENCE | $25,000 |