The Next Edison
- Assets
- $3.3m
- Revenue
- $62.2k
- Investments
- $2.5m
- Employees
- 0
- Location
- Long Lake, MN
- Founding
- 02/2018
- Data as of
- 12/2023
- EIN
- 82-6422405
Organization Overview
The Next Edison is located in Long Lake, MN. The organization was established in 2018. 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. Next Edison 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, Next Edison generated $62.2k 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 (50.1%) each year. All expenses for the organization totaled $285.5k during the year ending 12/2023. You can explore the organizations financials more deeply in the financial statements section below.
Since 2018, Next Edison has awarded 56 individual grants totaling $911,086. 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 |
|---|---|---|---|
Lori L Meehan Trustee | 2 | $0 | |
Andrew M O'brien Trustee | 0 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $0 |
| Interest on Savings | $60,989 |
| Dividends & Interest | $0 |
| Net Rental Income | -$12,921 |
| Net Gain on Sale of Assets | $1,245 |
| Capital Gain Net Income | $587 |
| Net ST Capital Gain | $0 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $0 |
| Other Income | $0 |
| Total Revenue | $62,234 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $0 |
| Other employee salaries and wages | $0 |
| Pension plans, employee benefits | $0 |
| Interest | $25 |
| Taxes | $4,079 |
| Depreciation | $6,545 |
| Occupancy | $0 |
| Travel, conferences, and meetings | $0 |
| Printing and publications | $0 |
| Other expenses | $2,322 |
| Total operating and administrative expenses | $33,307 |
| Contributions, gifts, grants paid | $252,241 |
| Total expenses and disbursements | $285,548 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $546,039 |
| 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 | $0 |
| Net Investments - land, buildings, equipment | $192,547 |
| Investments—mortgage loans | $0 |
| Investments—other | $0 |
| Net Land, buildings, and equipment | $0 |
| Other assets | $0 |
| Total assets | $3,270,238 |
| Accounts payable and accrued expenses | $0 |
| Grants payable | $10,000 |
| 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 | $10,000 |
Grants Awarded
Over the last fiscal year, The Next Edison has awarded $252,241 in support to 9 organizations.
| Grant Recipient | Amount |
|---|---|
UNIV OF MN FOUNDATION PURPOSE: SCHOLARSHIP/TUITION | $170,000 |
UNIVERSITY OF MINNESOTA PURPOSE: SCHOLARSHIP/TUITION | $15,000 |
ARIZONA STATE UNIVERSITY PURPOSE: SCHOLARSHIP/TUITION | $20,000 |
CAN DO CANINES PURPOSE: CHARITABLE DONATION | $1,000 |
HIGHLAND CATHOLIC SCHOOL PURPOSE: SCHOLARSHIPS/TUITION | $25,000 |
OLIVIA HOSPITAL PURPOSE: EMERGENCY SUPPORT - MEDICAL | $1,939 |