Rasmuson Foundation
- Assets
- $851.4m
- Revenue
- $102.8m
- Investments
- $739.2m
- Employees
- 0
- Location
- Anchorage, AK
- Founding
- 12/1992
- Data as of
- 12/2021
- EIN
- 91-6340739
Organization Overview
Rasmuson Foundation is located in Anchorage, AK. The organization was established in 1992. 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. Rasmuson 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, Rasmuson Foundation generated $102.8m in total revenue. This organization has experienced exceptional growth, as over the past 7 years, it has increased revenue by an average of 12.6% each year . All expenses for the organization totaled $45.8m during the year ending 12/2021. While expenses have increased by 4.2% per year over the past 7 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 2014, Rasmuson Foundation has awarded 5,976 individual grants totaling $290,036,366. 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
990T
Mission & Program ActivityExcerpts From the 990T Filing
TAX YEAR
2021
Describe the Organization's Program Activity:
THE FOUNDATION ENGAGED IN EXPLORING A HOMELESSNESS INITIATIVE AND CONTRACTORS WERE HIRED TO ASSIST WITH STRATEGIC, PROGRAM, FINANCIAL, AND INFRASTRUCTURE DEVELOPMENTS. VARIOUS TELECONFERENCES, PANELS, AND GATHERINGS OF GRANTEES AND BUSINESS LEADERS WERE HOSTED TO BRING TOGETHER EXPERTS FROM DIFFERING CULTURES, LOCATIONS AND ORGANIZATIONS TO SUPPORT THE EFFORTS TO END HOMELESSNESS IN ALASKA.
THE FOUNDATION'S INDIVIDUAL ARTIST AWARD PROGRAM AWARDS ONE DISTINGUISHED ARTIST AWARD, TEN FELLOWSHIP AWARDS, AND TWENTY-FIVE PROJECT AWARDS. VARIOUS TELECONFERENCES AND GATHERINGS OF PANELIST WERE HOSTED TO REVIEW AND SELECT FROM OVER THREE HUNDRED APPLICATIONS TO THE PROGRAM.
THE FOUNDATION ADMINISTERS PROGRAM RELATED INVESTMENTS TO RESPOND TO THE CAPITAL NEEDS OF ALASKA NONPROFITS. CERTAIN CONSULTANTS AND CONTRACTORS WERE HIRED TO ASSIST WITH THE PROGRAM.
THE FOUNDATION'S SABBATICAL PROGRAM AWARDS FIVE TO SEVEN SABBATICAL GRANTS TO SUPPORT AND INCENTIVIZE ALASKA'S NONPROFIT AND TRIBAL EXECUTIVES TO REMAIN IN THE FIELD. VARIOUS TELECONFERENCES AND GATHERING OF PANELIST WERE HOSTED TO REVIEW AND SELECT APPLICATIONS TO THE PROGRAM.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Diane S Kaplan President/ceo | 40 | $523,039 | |
Alexandra K Mckay VP Programs | 40 | $255,284 | |
Angela S Cox VP External Affairs | 40 | $225,259 | |
Julee Farley VP Finance & Admin | 40 | $224,284 | |
Jeffrey C Baird Chief Of Staff | 40 | $199,451 | |
Christopher Perez Director Of Programs | 40 | $190,284 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Latash Investments Llc | 12/30/21 | $1,785,367 |
Moss Adams Llp | 12/30/21 | $169,710 |
Arctic Information Technology | 12/30/21 | $127,582 |
Michele Brown | 12/30/21 | $118,319 |
Orion Technology Consulting | 12/30/21 | $75,846 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $89,500 |
| Interest on Savings | $25,987 |
| Dividends & Interest | $2,624,999 |
| Net Rental Income | $0 |
| Net Gain on Sale of Assets | $78,513,148 |
| Capital Gain Net Income | $91,751,985 |
| Net ST Capital Gain | $0 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $0 |
| Other Income | $21,572,455 |
| Total Revenue | $102,826,089 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $1,427,317 |
| Other employee salaries and wages | $2,254,627 |
| Pension plans, employee benefits | $1,152,654 |
| Interest | $7,139 |
| Taxes | $1,868,126 |
| Depreciation | $91,910 |
| Occupancy | $481,115 |
| Travel, conferences, and meetings | $198,638 |
| Printing and publications | $52,443 |
| Other expenses | $921,757 |
| Total operating and administrative expenses | $13,185,848 |
| Contributions, gifts, grants paid | $32,597,746 |
| Total expenses and disbursements | $45,783,594 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $96,928,876 |
| 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 | $499,792,400 |
| Net Land, buildings, and equipment | $796,612 |
| Other assets | $14,461,009 |
| Total assets | $851,377,242 |
| Accounts payable and accrued expenses | $1,416,911 |
| Grants payable | $22,183,021 |
| Deferred revenue | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Mortgages and other notes payable | $0 |
| Other liabilities | $4,191,764 |
| Total liabilities | $27,791,696 |
Grants Awarded
Over the last fiscal year, Rasmuson Foundation has awarded $40,697,704 in support to 757 organizations.
| Grant Recipient | Amount |
|---|---|
Anchorage, AK PURPOSE: RASMUSON FOUNDATION FUND | $3,505,000 |
Anchorage, AK PURPOSE: HOMELESS SHELTER IN ANCHORAGE | $2,000,000 |
Kodiak, AK PURPOSE: ALUTIIQ MUSEUM EXPANSION AND RENOVATION | $1,800,000 |
MUSEUMS ALASKA INC PURPOSE: ART ACQUISITION AND COLLECTIONS MANAGEMENT FUND FOR ALASKA MUSEUMS | $1,340,000 |
Juneau, AK PURPOSE: SEACOAST TRUST ENDOWMENT | $1,000,000 |
Anchorage, AK PURPOSE: GENERAL SUPPORT | $1,000,000 |
Grants Recieved
Over the last fiscal year, we have identified 2 grants that Rasmuson Foundation has recieved totaling $25,000.
| Awarding Organization | Amount |
|---|---|
The Valley Hospital Association Inc Wasilla, AK PURPOSE: PROGRAM SUPPORT & SPONSORSHIP | $15,000 |
First Alaskans Institute Anchorage, AK PURPOSE: CULTURE CAMP | $10,000 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Amazonsmile Foundation Seattle, WA | $32,322,159 | $94,115,479 |
Gates Philanthropy Partners Seattle, WA | $58,428,866 | $30,155,547 |
Paul G Allen Family Foundation Seattle, WA | $0 | $45,218,114 |
Friday Foundation Medina, WA | $32,805,393 | $16,602 |
Rasmuson Foundation Anchorage, AK | $851,377,242 | $102,826,089 |
Roots And Wings Foundation Inc Seattle, WA | $315,937,030 | $249,888,695 |
Schultz Family Foundation Seattle, WA | $463,519,339 | $158,807,992 |
Norcliffe Foundation Seattle, WA | $18,121,640 | $25,144,033 |
Wilburforce Foundation Seattle, WA | $159,747,435 | $25,133,506 |
Islands Foundation Richland, WA | $219,157,832 | $26,464,404 |
Oscar T And Olivann Hokoldfoundation Lakewood, WA | $0 | $15,898,165 |
William A Looney Family Foundation Seattle, WA | $2,970,328 | $1,865,530 |