Frank A Morbeck Community Foundation Inc
- Assets
- $3.0m
- Revenue
- $210.1k
- Investments
- $3.0m
- Employees
- 0
- Location
- Wallace, ID
- Founding
- 06/1999
- Data as of
- 12/2021
- EIN
- 82-0509175
Organization Overview
Frank A Morbeck Community Foundation Inc is located in Wallace, ID. The organization was established in 1999. According to its NTEE Classification (T22) the organization is classified as: Private Independent 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. Frank A Morbeck Community 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 12/2021, Frank A Morbeck Community Foundation Inc generated $210.1k in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 1.5% each year. All expenses for the organization totaled $191.6k during the year ending 12/2021. You can explore the organizations financials more deeply in the financial statements section below.
Since 2015, Frank A Morbeck Community Foundation Inc has awarded 279 individual grants totaling $1,340,082. 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
2021
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE FOUNDATION PROVIDES SCHOLARSHIPS TO YOUNG PEOPLE AND MAKES DONATIONS TO QUALIFIED NONPROFIT ORGANIZATIONS IN AND AROUND THE CITY OF WALLACE, IDAHO TO SUPPORT THEIR CHARITABLE ACTIVITIES.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Julie Magnuson Secretary | 2 | $5,000 | |
Michael K Branstetter President/direc | 1 | $100 | |
Dick L Vester Director/vp | 1 | $100 | |
Bill Mooney Director | 1 | $100 | |
Marilyn White Director/sec. | 2 | $100 | |
Chris Lund Director | 1 | $100 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $0 |
| Interest on Savings | $3 |
| Dividends & Interest | $92,946 |
| Net Rental Income | $0 |
| Net Gain on Sale of Assets | $117,171 |
| Capital Gain Net Income | $117,171 |
| Net ST Capital Gain | $0 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $0 |
| Other Income | $0 |
| Total Revenue | $210,120 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $5,700 |
| Other employee salaries and wages | $0 |
| Pension plans, employee benefits | $0 |
| Interest | $0 |
| Taxes | $488 |
| Depreciation | $0 |
| Occupancy | $0 |
| Travel, conferences, and meetings | $0 |
| Printing and publications | $0 |
| Other expenses | $274 |
| Total operating and administrative expenses | $27,957 |
| Contributions, gifts, grants paid | $163,645 |
| Total expenses and disbursements | $191,602 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $11,586 |
| 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 | $2,929 |
| Net Investments - land, buildings, equipment | $0 |
| Investments—mortgage loans | $0 |
| Investments—other | $0 |
| Net Land, buildings, and equipment | $0 |
| Other assets | $0 |
| Total assets | $3,030,495 |
| 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, Frank A Morbeck Community Foundation Inc has awarded $163,645 in support to 37 organizations.
| Grant Recipient | Amount |
|---|---|
UNIVERSITY OF IDAHO PURPOSE: SCHOLARSHIPS | $39,450 |
WALLACE SCHOOL DISTRICT PURPOSE: EDUCATIONAL SUPPORT AND EQUIPMENT | $33,770 |
NORTH IDAHO COLLEGE PURPOSE: SCHOLARSHIPS | $16,425 |
WALLACE ELKS LODGE 331 PURPOSE: YOUTH ACTIVITIES | $8,251 |
Lewiston, ID PURPOSE: SCHOLARSHIP | $5,450 |
BOISE STATE UNIVERSITY PURPOSE: SCHOLARSHIP | $5,150 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Bezos Family Foundation Seattle, WA | $130,746,152 | $60,417,966 |
Holland M Ware Charitable Foundation Eagle, ID | $219,618,856 | $24,900,954 |
Engelstad Fam Foundation Las Vegas, NV | $835,390,513 | $95,367,626 |
Sorenson Legacy Foundation Midvale, UT | $495,708,411 | $38,649,828 |
Cyrus Tang Foundation Las Vegas, NV | $882,448,132 | $23,435,848 |
Kate B Reynolds Charitable Trust Las Vegas, NV | $458,547,474 | $24,205,244 |
Raikes Foundation Seattle, WA | $117,221,519 | $16,360,598 |
Aldarra Foundation Seattle, WA | $1,907,346 | $20,570,824 |
Charles K Blandin Residuary Trust 30/15962 Las Vegas, NV | $0 | $17,582,870 |
Troesh Family Foundation Henderson, NV | $90,271,272 | $18,993,634 |
Bia Echo Foundation Reno, NV | $26,357,504 | $25,798,977 |
James F And Marion L Miller Foundation Portland, OR | $164,280,841 | $30,090,803 |