Minnco Credit Union Foundation Inc
- Assets
- $42.3k
- Revenue
- $72.0k
- Investments
- $0.0
- Employees
- 0
- Location
- North Branch, MN
- Founding
- 04/2017
- Data as of
- 12/2023
- EIN
- 81-5299610
Organization Overview
Minnco Credit Union Foundation Inc is located in North Branch, MN. The organization was established in 2017. According to its NTEE Classification (T99) the organization is classified as: Philanthropy, Voluntarism & Grantmaking Foundations N.E.C., 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. Minnco Credit Union Foundation Inc 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, Minnco Credit Union Foundation Inc generated $72.0k in total revenue. This organization has experienced exceptional growth, as over the past 7 years, it has increased revenue by an average of 23.2% each year . All expenses for the organization totaled $63.3k during the year ending 12/2023. You can explore the organizations financials more deeply in the financial statements section below.
Since 2017, Minnco Credit Union Foundation Inc has awarded 71 individual grants totaling $193,282. 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
CREDIT UNIONS FOR KIDS - CHILDRENS MIRACLE NETWORK.
BANZAI. INCREASE FINANCIAL LITERACY FOR MIDDLE AND HIGH
SCHOOL SUPPLY DRIVE. SCHOOL SUPPLY MONEY WAS RAISED AND
VIKING VITTLES NORTH BRANCH. DURING 2022-2023 SCHOOL YEAR,
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
John Wendland President | 4 | $0 | |
Chris Wester Secretary | 2 | $0 | |
Christine Eblen Treasurer | 2 | $0 | |
Doug Hallstrom Member | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $40,445 |
| Interest on Savings | $31 |
| 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 | $31,489 |
| Other Income | $0 |
| Total Revenue | $71,965 |
| 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 | $0 |
| Total operating and administrative expenses | $970 |
| Contributions, gifts, grants paid | $62,312 |
| Total expenses and disbursements | $63,282 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $42,349 |
| 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 | $42,349 |
| 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, Minnco Credit Union Foundation Inc has awarded $58,362 in support to 20 organizations.
| Grant Recipient | Amount |
|---|---|
PASSING THE BREAD PRIN PURPOSE: COMMUNITY ASST | $500 |
FRIENDS OF SHERBOURNE PURPOSE: COMMUNITY ASST | $1,000 |
GRACEPOINT CROSSING MCB PURPOSE: COMMUNITY ASST | $1,000 |
ISANTI CO INTEGRATED CO PURPOSE: COMMUNITY ASST | $1,000 |
ALLINA HEALTH FOUNDATIO PURPOSE: COMMUNITY ASST | $500 |
CAMBRIDGE ISANTI SCHOOL PURPOSE: COMMUNITY ASST | $864 |