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← ETHEL M VANDERLIP TRUST 1379

Form 990 for tax year 2023

Filed by ETHEL M VANDERLIP TRUST 1379.

Totals

Total revenue
$495,515
Total expenses
$921,403
Contributions and grants received
$0
Grants paid
$850,970
Program service revenue
$0
Investment income
$482,758
Other revenue
$12,757
Total assets, end of year
$10,959,608
Total liabilities, end of year
$0
Net assets or fund balances, end of year
$10,959,608
Program services expenses (Part IX)
$860,702
Management and general expenses
$60,701
Fundraising expenses
$0
Program service expenses (Part III)
$850,969

Program services were 93.4% of total expenses calculated — Part IX's program-services column over total expenses, both as filed.

Line items

Every line the filer filed in Parts VIII, IX and X, as filed and in filed order. Blank columns are left out, and the lines are not forced to add up to the totals above.

Revenue

Part VIII, the statement of revenue.

  • 3 · Investment income

    total $393,417 · excluded $393,417

  • 6a · Gross rents

    real property $12,500

  • 6c · Rental income or loss

    real property $12,500

  • 6d · Net rental income or loss

    total $12,500 · excluded $12,500

  • 7a · Gross sales of assets other than inventory

    securities $716,694

  • 7b · Less cost or other basis and sales expenses

    securities $627,353

  • 7c · Gain or loss

    securities $89,341

  • 7d · Net gain or loss

    total $89,341 · excluded $89,341

  • 11a · Other revenue: OTHER INCOME

    total $257 · excluded $257

  • 11e · Other revenue, total

    $257

Functional expenses

Part IX, the statement of functional expenses.

  • 1 · Grants to domestic organizations and governments

    total $850,970 · program services $850,970

  • 5 · Compensation of officers, directors and key employees

    total $55,325 · program services $5,533 · management and general $49,792

  • 11b · Fees: legal

    total $3,424 · program services $3,424

  • 11c · Fees: accounting

    total $750 · program services $750

  • 11g · Fees: other

    total $0 · program services $0 · management and general $0

  • 24a · Other expenses: STATE FILING FEE

    total $25 · program services $25

  • 24b · Other expenses: FOREIGN TAXES PAID

    total $10,909 · management and general $10,909

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    end of year $706

  • 2 · Savings and temporary cash investments

    beginning of year $374,766 · end of year $371,753

  • 4 · Accounts receivable

    beginning of year $42,754 · end of year $46,527

  • 10a · Land, buildings and equipment: cost or other basis

    $1

  • 10c · Land, buildings and equipment, net

    beginning of year $1 · end of year $1

  • 11 · Investments: publicly traded securities

    beginning of year $10,967,972 · end of year $10,540,621

  • 31 · Retained earnings, endowment or other funds

    beginning of year $11,385,493 · end of year $10,959,608

Mission and programs · 2023

Mission

TO PROVIDE FUNDING SUPPORT TO THE MINNEAPOLIS INSTITUTE OF ARTS AND THE MINNEAPOLIS COLLEGE OF ART & DESIGN

  • FUNDING SUPPORT FOR THE MINNEAPOLIS INSTITUTE OF ARTS

    Expenses $626,977 · Grants $626,977

  • FUNDING SUPPORT FOR THE MINNEAPOLIS COLLEGE OF ART & DESIGN

    Expenses $223,992 · Grants $223,992

As filed on the 2023 return.

Listed in Part VII

  • Us Bank National Association

    TRUSTEE

    Total calculated
    $55,325
    From this org
    $55,325
    From related orgs
    $0
    Other
    $0
    Hours/week
    1

Compensation is as filed in Part VII: reportable pay from this organization and from related organizations, other compensation, and hours per week. The total, marked calculated, is our sum of the three dollar columns, with a blank column counted as $0; the form itself has no total. On a Form 990-EZ the columns are Part IV's instead, and on a Form 990-PF Part VIII's — compensation, contributions to benefit plans, and expense account — and the total sums those.

Grants on this return

Related organizations on this return

Schedule R Part II: tax-exempt organizations related to the filer by control. It does not record shared board members or money.

Provenance

Return type
form_990
Tax year
2023
Filed
8 October 2024
IRS schema version
2023v5.1
Source object
202413029349301236

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