Jerstad Family Foundation
- Assets
- $4.0m
- Revenue
- $128.6k
- Investments
- $4.0m
- Employees
- 0
- Location
- Sioux Falls, SD
- Founding
- 02/1997
- Data as of
- 12/2023
- EIN
- 91-1757487
Organization Overview
Jerstad Family Foundation is located in Sioux Falls, SD. The organization was established in 1997. According to its NTEE Classification (T90) the organization is classified as: Named Trusts N.E.C., 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. Jerstad Family 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 12/2023, Jerstad Family Foundation generated $128.6k in total revenue. This represents a relatively dramatic decline in revenue. Over the past 8 years, the organization has seen revenues fall by an average of (5.1%) each year. All expenses for the organization totaled $242.2k during the year ending 12/2023. You can explore the organizations financials more deeply in the financial statements section below.
Since 2016, Jerstad Family Foundation has awarded 178 individual grants totaling $1,465,156. 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 |
|---|---|---|---|
Sandra I Jerstad Director | 10 | $0 | |
Rachel Jerstad Director | 0.1 | $0 | |
Michael Jerstad Director | 0.1 | $0 | |
Sarah Jerstad Director | 0.1 | $0 | |
Kelly Jerstad Director | 0.1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $2,412 |
| Interest on Savings | $172 |
| Dividends & Interest | $118,240 |
| Net Rental Income | $0 |
| Net Gain on Sale of Assets | $7,789 |
| Capital Gain Net Income | $7,789 |
| Net ST Capital Gain | $0 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $0 |
| Other Income | $0 |
| Total Revenue | $128,613 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $0 |
| Other employee salaries and wages | $0 |
| Pension plans, employee benefits | $0 |
| Interest | $151 |
| Taxes | $3,505 |
| Depreciation | $0 |
| Occupancy | $0 |
| Travel, conferences, and meetings | $0 |
| Printing and publications | $0 |
| Other expenses | $9,500 |
| Total operating and administrative expenses | $43,665 |
| Contributions, gifts, grants paid | $198,500 |
| Total expenses and disbursements | $242,165 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $37,838 |
| 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 | $0 |
| Investments—mortgage loans | $0 |
| Investments—other | $3,989,993 |
| Net Land, buildings, and equipment | $0 |
| Other assets | $0 |
| Total assets | $4,027,831 |
| 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, Jerstad Family Foundation has awarded $198,500 in support to 20 organizations.
| Grant Recipient | Amount |
|---|---|
WASHINGTON PAVILION PURPOSE: GENERAL SUPPORT | $5,000 |
AVERA MCKENNAN HOSP UNIV HEALTH CTR PURPOSE: GENERAL SUPPORT | $6,000 |
SOUTH DAKOTA SYMPHONY ORCHESTRA PURPOSE: GENERAL SUPPORT | $2,000 |
HABITAT FOR HUMANITY PURPOSE: GENERAL SUPPORT | $1,500 |
OPPORTUNITY NEIGHBORHOOD PURPOSE: GENERAL SUPPORT | $25,000 |
COLLEGE POSSIBLE PURPOSE: GENERAL SUPPORT | $15,000 |