Rasmuson Foundation
- Assets
- $760.8m
- Revenue
- $48.1m
- Investments
- $696.3m
- Employees
- 0
- Location
- Anchorage, AK
- Founding
- 12/1992
- Data as of
- 12/2023
- 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 12/2023, Rasmuson Foundation generated $48.1m in total revenue. This represents relatively stable growth, over the past 9 years the organization has increased revenue by an average of 0.8% each year. All expenses for the organization totaled $38.4m during the year ending 12/2023. While expenses have increased by 1.3% per year over the past 9 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 8,754 individual grants totaling $441,751,172. 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
2023
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE FOUNDATION'S BROADBAND INITIATIVE COORDINATED GROUP MEETINGS TO UNDERSTAND BARRIERS PREVENTING ACCESS TO BROADBAND ACROSS THE STATE. PARTNER ORGANIZATIONS AND NONPROFITS LED VARIOUS LISTENING SESSIONS AND SURVEYS TO ENSURE ALL POPULATIONS WERE COVERED. A TEAM OF ADVISERS WITH EXPERTISE IN NAVIGATING THE WORLD OF FEDERAL BROADBAND GRANT FUNDING WAS UTILIZED.
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, TEN FELLOWSHIP, AND TWENTY-FIVE PROJECT AWARDS. VARIOUS TELECONFERENCES AND GATHERINGS OF PANELIST WERE HOSTED TO REVIEW AND SELECT FROM OVER FOUR HUNDRED APPLICATIONS TO 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 |
|---|---|---|---|
Adam Gibbons Chair | 10 | $0 | |
Natasha Von Imhof Vice Chair | 5 | $0 | |
Jay Gibbons Secretary & Treasurer | 5 | $0 | |
Cathryn Rasmuson Director | 3 | $0 | |
Lile R Gibbons Director | 3 | $0 | |
Judy Rasmuson Director | 3 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Latash Investments Llc | 12/30/23 | $1,973,826 |
Chelsea Gulling | 12/30/23 | $211,225 |
Davis Wright Tremaine Llp | 12/30/23 | $204,910 |
Moss Adams Llp | 12/30/23 | $261,210 |
Briq Advisors Llc | 12/30/23 | $196,128 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $567,800 |
| Interest on Savings | $59,157 |
| Dividends & Interest | $6,669,231 |
| Net Rental Income | $0 |
| Net Gain on Sale of Assets | $31,818,722 |
| Capital Gain Net Income | $28,265,255 |
| Net ST Capital Gain | $0 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $0 |
| Other Income | $9,031,226 |
| Total Revenue | $48,146,136 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $2,389,179 |
| Other employee salaries and wages | $2,904,659 |
| Pension plans, employee benefits | $1,582,098 |
| Interest | $0 |
| Taxes | $941,826 |
| Depreciation | $95,898 |
| Occupancy | $466,551 |
| Travel, conferences, and meetings | $434,916 |
| Printing and publications | $24,748 |
| Other expenses | $1,198,666 |
| Total operating and administrative expenses | $15,637,523 |
| Contributions, gifts, grants paid | $22,746,830 |
| Total expenses and disbursements | $38,384,353 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $51,774,937 |
| 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 | $90,140 |
| Net Investments - land, buildings, equipment | $0 |
| Investments—mortgage loans | $0 |
| Investments—other | $406,823,434 |
| Net Land, buildings, and equipment | $673,444 |
| Other assets | $11,947,540 |
| Total assets | $760,803,239 |
| Accounts payable and accrued expenses | $1,128,620 |
| Grants payable | $17,966,049 |
| Deferred revenue | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Mortgages and other notes payable | $0 |
| Other liabilities | $4,178,747 |
| Total liabilities | $23,273,416 |
Grants Awarded
Over the last fiscal year, Rasmuson Foundation has awarded $38,818,788 in support to 749 organizations.
| Grant Recipient | Amount |
|---|---|
49 WRITERS INC PURPOSE: GENERAL SUPPORT | $500 |
ABUSED WOMEN'S AID IN CRISIS PURPOSE: FACILITY AND TECHNOLOGY UPGRADES IN ANCHORAGE | $170,000 |
ABUSED WOMEN'S AID IN CRISIS PURPOSE: GENERAL SUPPORT | $4,200 |
ACLU OF ALASKA FOUNDATION PURPOSE: GENERAL SUPPORT | $1,200 |
ACCESS ALASKA PURPOSE: PARATRANSIT VEHICLE FOR ANCHORAGE AND THE MAT-SU BOROUGH | $23,215 |
ADP COMMUNITY SERVICES PURPOSE: EQUIPMENT EVENTS IN DOWNTOWN ANCHORAGE | $15,000 |