Otter Tail Corporation Foundation
- Assets
- $6.1m
- Revenue
- $4.5m
- Investments
- $0.0
- Employees
- 0
- Location
- Fergus Falls, MN
- Founding
- 03/2019
- Data as of
- 12/2021
- EIN
- 83-1883575
Organization Overview
Otter Tail Corporation Foundation is located in Fergus Falls, MN. The organization was established in 2019. According to its NTEE Classification (S99) the organization is classified as: Community Improvement & Capacity Building N.E.C., under the broad grouping of Community Improvement & Capacity Building and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Otter Tail Corporation Foundation 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, Otter Tail Corporation Foundation generated $4.5m in total revenue. This organization has experienced exceptional growth, as over the past 3 years, it has increased revenue by an average of 30.6% each year . All expenses for the organization totaled $154.3k during the year ending 12/2021. While expenses have increased by 28.4% per year over the past 3 years. They've been increasing with an increasing level of total revenue. You can explore the organizations financials more deeply in the financial statements section below.
Since 2020, Otter Tail Corporation Foundation has awarded 75 individual grants totaling $333,567. 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
NONE
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Stephanie Hoff President | 1 | $0 | |
Kevin Moug Director | 1 | $0 | |
Tyler Nelson Treasurer | 1 | $0 | |
Kari Alme VP | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $4,500,000 |
| Interest on Savings | $544 |
| 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 | $0 |
| Total Revenue | $4,500,544 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $0 |
| Other employee salaries and wages | $0 |
| Pension plans, employee benefits | $0 |
| Interest | $0 |
| Taxes | $226 |
| Depreciation | $0 |
| Occupancy | $0 |
| Travel, conferences, and meetings | $0 |
| Printing and publications | $436 |
| Other expenses | $146 |
| Total operating and administrative expenses | $5,422 |
| Contributions, gifts, grants paid | $148,900 |
| Total expenses and disbursements | $154,322 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $124,133 |
| Savings and temporary cash investments | $6,000,685 |
| 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 | $6,124,818 |
| 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, Otter Tail Corporation Foundation has awarded $148,900 in support to 33 organizations.
| Grant Recipient | Amount |
|---|---|
UND FOUNDATION PURPOSE: BUILDING FUND GIFT AGREEMENT PMT 2 | $25,000 |
Memphis, TN PURPOSE: EASTERN SD-RURAL WETLAND MANAGEMENT | $15,000 |
Fargo, ND PURPOSE: CULTIVATE ARTS IN THE COMMUNITY | $10,000 |
LIFEWORKS PURPOSE: EMPLOYMENT EQUITY FOR PEOPLE | $10,000 |
Alexandria, VA PURPOSE: DONATION FOR SHAREHOLDER VOTES | $10,000 |
HERO HEALTHCARE EQUIP RECYCLE ORG PURPOSE: WAIVED FEE PROGRAM | $7,500 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Milwaukee Electrical Industry Vacation - Holiday Plan Wauwatosa, WI | $15,465,835 | $13,612,321 |
Gopher State One-Call Inc Minneapolis, MN | $13,617,385 | $7,412,499 |
Downtown Parking Management Inc Cedar Rapids, IA | $2,652,564 | $2,696,142 |
Scott County Regional Authority Bettendorf, IA | $3,455,493 | $3,293,735 |
Midwest Consruction & Distribution Industry Benefit Trust Eagan, MN | $4,510,406 | $1,947,839 |
Minnesota Association Of Townships St Michael, MN | $4,706,958 | $2,431,395 |
Dakota Business Finance Sioux Falls, SD | $1,006,804 | $1,543,251 |
Benedictine Living Community Of Wahpeton Minneapolis, MN | $6,015,815 | $1,840,159 |
Petroleum Marketers Of Iowa Urbandale, IA | $2,364,008 | $1,629,473 |
Minnesota Trucking Association Brooklyn Center, MN | $2,156,107 | $1,481,093 |
Independent Community Banks Of North Dakota Bismarck, ND | $2,054,460 | $1,393,335 |
Aggregate Ready Mix Of Minnesota Eagan, MN | $513,476 | $1,065,543 |