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Nonprofiteer
← GREATER MANKATO GROWTH INC FOUNDATION

Form 990 for tax year 2024

Filed by GREATER MANKATO GROWTH INC FOUNDATION.

Totals

Total revenue
$71,557
Total expenses
$71,557
Contributions and grants received
$19,000
Grants paid
$65,875
Program service revenue
$46,875
Investment income
$5,682
Other revenue
$0
Total assets, end of year
$748,110
Total liabilities, end of year
$650,587
Net assets or fund balances, end of year
$97,523
Program services expenses (Part IX)
$70,474
Management and general expenses
$1,083
Fundraising expenses
$0
Program service expenses (Part III)
$70,474

Program services were 98.5% 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.

  • 1f · All other contributions, gifts and grants

    $19,000

  • 2a · Program service revenue: SCULPTURE SALES

    total $46,875 · excluded $46,875

  • 3 · Investment income

    total $5,682 · excluded $5,682

Functional expenses

Part IX, the statement of functional expenses.

  • 1 · Grants to domestic organizations and governments

    total $65,875 · program services $65,875

  • 11g · Fees: other

    total $1,026 · program services $830 · management and general $196

  • 24a · Other expenses: MANAGEMENT FEES

    total $4,656 · program services $3,769 · management and general $887

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $189,325 · end of year $243,968

  • 2 · Savings and temporary cash investments

    beginning of year $801,035 · end of year $406,716

  • 15 · Other assets

    beginning of year $103,491 · end of year $97,426

  • 25 · Other liabilities

    beginning of year $990,263 · end of year $650,587

  • 27 · Net assets without donor restrictions

    beginning of year $101,195 · end of year $75,506

  • 28 · Net assets with donor restrictions

    beginning of year $2,393 · end of year $22,017

Mission and programs · 2024

Mission

THE ORGANIZATION PROVIDES SUPPORT FOR VARIOUS CHARITABLE CAUSES WITHIN THE GREATER COMMUNITY OF MANKATO, MINNESOTA IN ORDER TO CONTRIBUTE TO THE GROWTH, BETTERMENT AND VITALITY OF THE COMMUNITY.

Activities or mission (Part I)

SEE PART III, LINE 1

  • GRANTS WERE PROVIDED TO BE USED FOR THE CITY ART PROGRAM IN MANKATO, MINNESOTA

    Expenses $55,875 · Grants $55,875 · Revenue $46,875

  • DONATIONS TO LOCAL ORGANIZATIONS FOR FINANCIAL ASSISTANCE.

    Expenses $14,599 · Grants $10,000

As filed on the 2024 return.

Listed in Part VII

  • David Krause

    CHAIR

    Total calculated
    $0
    Hours/week
    1 + 2.5 related

  • Charlie Whitaker

    PAST CHAIR

    Total calculated
    $0
    Hours/week
    1 + 1 related

  • David Kim

    VICE CHAIR

    Total calculated
    $0
    Hours/week
    1 + 1 related

  • Ben Ellingson

    TREASURER/SE

    Total calculated
    $0
    Hours/week
    1 + 2.5 related

  • Dr James Hebl MD

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    1 + 1 related

  • Liz Ulman

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    1 + 1 related

  • Wesley Otto

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    1 + 2.5 related

  • Samantha Boeck

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    1 + 1 related

  • Della Schmidt

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    5 + 40 related

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

  • CITYART LLC

    $46,875

    FINANCIAL ASSISTANCE

  • PRAIRIE LAKES REGIONAL ARTS COUNCIL

    $9,000

    FINANCIAL ASSISTANCE

  • CITY CENTER PARTNERSHIP LLC

    $7,500

    FINANCIAL ASSISTANCE

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.

  • CITY ART LLC

    3 · CHARITY · MN · controlled entity

    Directly controlled by GMGF

  • GREATER MANKATO GROWTH INC

    6 · GROWITH · MN · controlled entity

Provenance

Return type
form_990
Tax year
2024
Filed
13 August 2025
IRS schema version
2024v5.0
Source object
202502279349302410

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