3m Open Fund
- Assets
- $2.8m
- Revenue
- $13.5m
- Investments
- $0.0
- Employees
- 11
- Location
- Blaine, MN
- Founding
- 06/2019
- Data as of
- 09/2021
- EIN
- 83-0995816
Organization Overview
3m Open Fund is located in Blaine, MN. The organization was established in 2019. According to its NTEE Classification (T31) the organization is classified as: Community Foundations, under the broad grouping of Philanthropy, Voluntarism & Grantmaking Foundations and related organizations. As of 09/2021, 3m Open Fund employed 11 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. 3m Open Fund 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 09/2021, 3m Open Fund generated $13.5m in total revenue. This represents relatively stable growth, over the past 3 years the organization has increased revenue by an average of 8.9% each year. All expenses for the organization totaled $13.6m during the year ending 09/2021. You can explore the organizations financials more deeply in the financial statements section below.
Since 2019, 3m Open Fund has awarded 64 individual grants totaling $4,975,815. 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
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2021
Describe the Organization's Mission:
Part 3 - Line 1
3M OPEN FUND IS A NONPROFIT ORGANIZATION CREATED TO RUN AN ANNUAL PGA TOUR SANCTIONED PROFESSIONAL GOLF TOURNAMENT FOR CHARITY.
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE ORGANIZATION HELD A PGA TOUR SANCTIONED PROFESSIONAL GOLF TOURNAMENT IN JULY.
Get More from Intellispect for FreeCreate a free account to get more data, nonprofit salaries, advanced search and more.
PDF Copies of 990 Filings
Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Denise Rutherford President | OfficerTrustee | 1 | $0 |
Mike Page Director | OfficerTrustee | 1 | $0 |
Jennifer Smith Director | OfficerTrustee | 1 | $0 |
Kady Stoll Secretary | OfficerTrustee | 1 | $0 |
James Moman Director | OfficerTrustee | 1 | $0 |
Don Ashton Treasurer | OfficerTrustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $3,000,000 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $3,000,000 |
| Total Program Service Revenue | $10,173,816 |
| Investment income | $0 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $13,492,516 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $1,483,982 |
| Grants and other assistance to domestic individuals. | $0 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $0 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $0 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $2,778 |
| Fees for services: Accounting | $5,000 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $1,717,141 |
| Advertising and promotion | $212,032 |
| Office expenses | $406,647 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $182,084 |
| Travel | $52,225 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $298,576 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $407,259 |
| Insurance | $11,346 |
| All other expenses | $960,926 |
| Total functional expenses | $13,562,392 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $246,613 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $798,938 |
| Accounts receivable, net | $0 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $16,614 |
| Net Land, buildings, and equipment | $1,730,358 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $2,792,523 |
| Accounts payable and accrued expenses | $1,340,101 |
| Grants payable | $1,096,054 |
| Deferred revenue | $0 |
| Tax-exempt bond liabilities | $0 |
| Escrow or custodial account liability | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $0 |
| Unsecured mortgages and notes payable | $7,000,000 |
| Other liabilities | $0 |
| Total liabilities | $9,436,155 |
| Net assets without donor restrictions | -$6,643,632 |
| Net assets with donor restrictions | $0 |
| Capital stock or trust principal, or current funds | $0 |
| Paid-in or capital surplus, or land, building, or equipment fund | $0 |
| Retained earnings, endowment, accumulated income, or other funds | $0 |
| Total liabilities and net assets/fund balances | $2,792,523 |
Grants Awarded
Over the last fiscal year, 3m Open Fund has awarded $1,447,675 in support to 25 organizations.
| Grant Recipient | Amount |
|---|---|
Minneapolis, MN PURPOSE: DIRECT GRANT | $365,000 |
Minneapolis, MN PURPOSE: DIRECT GRANT | $225,000 |
Minneapolis, MN PURPOSE: DIRECT GRANT | $100,125 |
Saint Paul, MN PURPOSE: DIRECT GRANT | $100,000 |
St Paul, MN PURPOSE: DIRECT GRANT | $100,000 |
Bloomington, MN PURPOSE: DIRECT GRANT | $100,000 |
Grants Recieved
Over the last fiscal year, we have identified 3 grants that 3m Open Fund has recieved totaling $210,340.
| Awarding Organization | Amount |
|---|---|
Pga Tour Inc Ponte Vedra Beach, FL PURPOSE: GENERAL SUPPORT | $175,000 |
Bknd2all Shoreview, MN PURPOSE: SUPPORT MISSION | $23,340 |
Minneapolis Foundation Minneapolis, MN PURPOSE: DONOR-RECOMMENDED, PHILANTHROPY | $12,000 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Greater Green Bay Community Foundation Inc Green Bay, WI | $158,723,657 | $42,186,646 |
Community Foundation For The Fox Valley Region Inc Appleton, WI | $500,269,949 | $60,999,391 |
Madison Community Foundation Madison, WI | $285,628,719 | $40,248,600 |
Sioux Falls Area Community Foundation Inc Sioux Falls, SD | $264,068,911 | $59,923,672 |
Catholic Community Foundation Of Minnesota St Paul, MN | $510,001,439 | $72,097,381 |
Communitygiving St Cloud, MN | $193,103,222 | $46,523,540 |
Quad Cities Community Foundation Bettendorf, IA | $165,771,747 | $15,098,956 |
Greater Cedar Rapids Community Foundation Cedar Rapids, IA | $223,368,352 | $26,493,454 |
3m Open Fund Blaine, MN | $2,792,523 | $13,492,516 |
Fargo-Moorhead Area Foundation Corporation Fargo, ND | $123,601,833 | $30,025,035 |
Oshkosh Area Community Foundation Corporation Oshkosh, WI | $140,509,815 | $17,534,681 |
Community Foundation Of Greater Dubuque Dubuque, IA | $145,486,240 | $37,640,315 |