Minor Use Foundation Inc
- Assets
- $545.9k
- Revenue
- $627.2k
- Investments
- $0.0
- Employees
- 0
- Location
- Raleigh, NC
- Founding
- 08/2019
- Data as of
- 12/2022
- EIN
- 83-1204880
Organization Overview
Minor Use Foundation Inc is located in Raleigh, NC. The organization was established in 2019. 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. Minor Use 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 12/2022, Minor Use Foundation Inc generated $627.2k in total revenue.
Form
990PF
Mission & Program ActivityExcerpts From the 990PF Filing
TAX YEAR
2022
Describe the Organization's Program Activity:
Part 3 - Line 4a
IN 2018 THE ORGANIZATION FORMED AND LAID THE GROUNDWORK TO LAUNCH THEIR PROGRAMS, CHARITABLE GIVING AND BENEVOLENT ASSISTANCE IN THE 2019 TAX YEAR. TO DATE, NO PERSONS HAVE BENEFITED.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Dr Daniel Kunkel Treasurer | 5 | $0 | |
Dr Dirk Drost Chairman | 15 | $0 | |
Dr Alan Norden Secretary | 8 | $0 | |
Dr Michael Braverman Member | 8 | $0 | |
Dr Jason Sandahl Member | 5 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Anna Gore | 12/30/22 | $85,920 |
Kenneth Samoil | 12/30/22 | $81,570 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $626,657 |
| Interest on Savings | $9 |
| 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 | $575 |
| Total Revenue | $627,241 |
| 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 | $23,776 |
| Printing and publications | $0 |
| Other expenses | $67,856 |
| Total operating and administrative expenses | $588,007 |
| Contributions, gifts, grants paid | $0 |
| Total expenses and disbursements | $588,007 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $226,033 |
| Savings and temporary cash investments | $86,456 |
| Net Accounts receivable | $0 |
| Net Pledges Receivable | $0 |
| Grants receivable | $233,378 |
| 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 | $545,867 |
| Accounts payable and accrued expenses | $49,050 |
| 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 | $49,050 |
Grants Awarded
Over the last fiscal year, Minor Use Foundation Inc has awarded $95,500 in support to 2 organizations.
| Grant Recipient | Amount |
|---|---|
INTER-AMERICAN INSTITUTE FOR COOPERATION ON AGRICULTURE PURPOSE: SUPPORT FOR ACTIVITIES UNDER THE MINOR USE FOUNDATION - FUNDING RESEARCH ASSOCIATED WITH THE GLOBAL MINOR USE WORKSHOP PRIORITIES | $88,000 |
THE SCIENCE SOURCE FOR FOOD AGRICULTURAL AND ENVIRONMENTAL ISSUES PURPOSE: SUPPORT FOR THE CAST MRL PUBLICATION | $7,500 |