Bank Of Sweden Tercentenary Foundation
- Assets
- $1.3b
- Revenue
- $76.7m
- Investments
- $0.0
- Employees
- 0
- Location
- Atlanta, GA
- Founding
- 02/1992
- Data as of
- 12/2023
- EIN
- 98-0108427
Organization Overview
Bank Of Sweden Tercentenary Foundation is located in Atlanta, GA. The organization was established in 1992. According to its NTEE Classification (Q12) the organization is classified as: Fund Raising & Fund Distribution, under the broad grouping of International, Foreign Affairs & National Security and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Bank Of Sweden Tercentenary Foundation is a 501(c)(4) and as such, is described as a "Civic League, Social Welfare Organization, and Local Association of Employees" by the IRS.
For the year ending 12/2023, Bank Of Sweden Tercentenary Foundation generated $76.7m in total revenue. This represents a relatively dramatic decline in revenue. Over the past 4 years, the organization has seen revenues fall by an average of (13.7%) each year. All expenses for the organization totaled $15.6m during the year ending 12/2023. You can explore the organizations financials more deeply in the financial statements section below.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2023
Describe the Organization's Mission:
Part 3 - Line 1
BANK OF SWEDEN TER. FDN. IS AN INDEPENDENT GRANT MAKING FDN BASED IN STOCKHOLM, SWEDEN. GRANTS ARE MADE TO PROMOTE SCIENTIFIC RESEARCH IN SWEDEN. THERE IS NO 2023 OPERATING ACTIVITY IN U.S.OTHER THAN INVESTMENT IN U.S. STOCKS AND THE FDN IS NOT INCORPORATED IN U.S. BUT HAS AN EXEMPT CERTIFICATE. SEE SCH. O & SUPPL. STMTS.
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE BANK OF SWEDEN TERCENTENARY FOUNDATION IS AN INDEPENDENT GRANT MAKING FOUNDATION BASED IN STOCKHOLM, SWEDEN. GRANTS ARE MADE TO SUPPORT AND PROMOTE SCIENTIFIC RESEARCH CONNECTED WITH SWEDEN.NO GRANTS TO U.S. SOURCES HAVE BEEN MADE BY THE FOUNDATION. NO SALARIES ARE PAID IN THE U.S. ALL FUNDS ARE EXPENDED TO FURTHER AND PROMOTE SCIENTIFIC RESEARCH LINKED TO SWEDEN. THERE WAS NO REPORTABLE 2023 ACTIVITY AT ALL IN THE U.S OTHER THAN INVESTMENTS IS U.S. STOCKS.ADDITIONAL INFORMATION AVAILABLE UPON REQUEST. SEE SUPPLEMENTAL INFORMATION STMT ATTACHED FOR DISCUSSION OF HOW GRANTS ARE AWARDED AND OTHER DETAILS.2023 EXCHANGE RATE: 1 KRONA = 0.094224 U.S. DOLLARS
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Marika Hedin CEO | Officer | 40 | $187,761 |
Anders Malmberg President | Officer | 7 | $21,281 |
Tomas Eliasson CFO | Trustee | 2 | $13,351 |
Lynn Akesson Director | Trustee | 4 | $10,262 |
Christofer Edling Director | Trustee | 4 | $10,262 |
Jan Haggstrom Director | Trustee | 2 | $9,661 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $0 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $0 |
| Total Program Service Revenue | $0 |
| Investment income | $33,393,550 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $1,332,516 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $76,726,791 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $0 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $288,193 |
| Compensation of current officers, directors, key employees. | $57,638 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $1,843,908 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $0 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $0 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $0 |
| Office expenses | $0 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $1,858,003 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $0 |
| All other expenses | $0 |
| Total functional expenses | $15,612,823 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $14,066,324 |
| Savings and temporary cash investments | $79,480,111 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $0 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $530,858 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $0 |
| Net Land, buildings, and equipment | $0 |
| Investments—publicly traded securities | $1,078,571,387 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $143,697,443 |
| Total assets | $1,316,346,123 |
| Accounts payable and accrued expenses | $259,493 |
| Grants payable | $160,942,978 |
| Deferred revenue | $0 |
| Tax-exempt bond liabilities | $0 |
| Escrow or custodial account liability | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $0 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $11,140,764 |
| Total liabilities | $172,343,235 |
| Net assets without donor restrictions | $918,334,712 |
| Net assets with donor restrictions | $225,668,176 |
| Capital stock or trust principal, or current funds | $0 |
| Paid-in or capital surplus, or land, building, or equipment fund | $0 |
| Retained earnings, endowment, accumulated income, or other funds | $0 |
| Total liabilities and net assets/fund balances | $1,316,346,123 |