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Nonprofiteer
← GRANITE CHARITABLE

Form 990 for tax year 2023

Filed by GRANITE CHARITABLE.

Totals

Total revenue
$11,713,367
Total expenses
$1,623,629
Contributions and grants received
$10,369,333
Grants paid
$1,530,365
Program service revenue
$0
Investment income
$9,784
Other revenue
$1,334,250
Total assets, end of year
$51,383,250
Total liabilities, end of year
$30,133
Net assets or fund balances, end of year
$51,353,117
Program services expenses (Part IX)
$1,530,365
Management and general expenses
$64,470
Fundraising expenses
$28,794
Program service expenses (Part III)
$1,530,365

Program services were 94.3% 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

    $10,369,333

  • 1g · Noncash contributions included above

    $10,369,333

  • 3 · Investment income

    total $9,784 · excluded $9,784

  • 11a · Other revenue: UNIT HOLDINGS CASH DISTRIBUTIONS

    total $860,701 · related or exempt $860,701

  • 11b · Other revenue: MANAGEMENT FEES

    total $473,549 · related or exempt $473,549

  • 11e · Other revenue, total

    $1,334,250

Functional expenses

Part IX, the statement of functional expenses.

  • 1 · Grants to domestic organizations and governments

    total $1,530,365 · program services $1,530,365

  • 11a · Fees: management

    total $86,383 · management and general $57,589 · fundraising $28,794

  • 11b · Fees: legal

    total $1,406 · management and general $1,406

  • 11c · Fees: accounting

    total $5,450 · management and general $5,450

  • 24a · Other expenses: MISCELLANEOUS

    total $25 · management and general $25

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $116,592 · end of year $178,461

  • 7 · Other notes and loans receivable

    beginning of year $150,525 · end of year $499,483

  • 12 · Investments: other securities

    beginning of year $38,885,537 · end of year $50,705,306

  • 17 · Accounts payable and accrued expenses

    end of year $30,133

  • 27 · Net assets without donor restrictions

    beginning of year $116,592 · end of year $148,328

  • 28 · Net assets with donor restrictions

    beginning of year $39,036,062 · end of year $51,204,789

Mission and programs · 2023

Mission

PROVIDE FUNDING VIA SUPPORTED ORGANIZATIONS TO NON-PROFIT ORGANIZATIONS IN MINNESOTA THAT REDUCE POVERTY, ADVANCE ECONOMIC OPPORTUNITY, AND ENHANCE COMMUNITY WELL-BEING.

Activities or mission (Part I)

GRANITE CHARITABLE IS OPERATED TO BENEFIT AND CARRY OUT THE PURPOSE OF A SUPPORTED ORGANIZATION.

  • GRANTS OF $1,530,365 WERE MADE TO COMMUNITYGIVING, THE PRIMARY SUPPORTED ORGANIZATION, PROVIDING FUNDING SUPPORT FOR VARIOUS DESIGNATED COMMUNITY IMPACT/DONOR ADVISED FUNDS. GRANTS OF $37,912 WERE MADE TO THE INITIATIVE FOUNDATION, $29,659 WERE MADE TO THE MINNEAPOLIS FOUNDATION, AND $228,835 WERE MADE TO THE SOUTHERN MINNESOTA INITIATIVE FOUNDATION, PROVIDING DESIGNATED FUNDING SUPPORT THROUGH DONOR ADVISED FUNDS. ALL GRANT DOLLARS ARE USED BY THE SUPPORTED ORGANIZATIONS TO PROVIDE FUNDING SUPPORT FOR THE WORK OF NON-PROFITS IN MINNESOTA.

    Expenses $1,530,365 · Grants $1,530,365 · Revenue $1,334,250

As filed on the 2023 return.

Listed in Part VII

  • Dennis Gregory

    CHAIR

    Total calculated
    $0
    Hours/week
    1

  • Lisa Maurer

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Steven Joul

    DIRECTOR

    Total calculated
    $257,476
    From this org
    $0
    From related orgs
    $235,923
    Other
    $21,553
    Hours/week
    1 + 40 related

    Schedule J breakdown matched by us

    Base
    $0 + $203,403 related
    Bonus
    $0 + $30,000 related
    Other
    $0 + $2,520 related
    Deferred
    $0 + $18,526 related
    Nontaxable benefits
    $0 + $3,027 related
    Filer's total
    $0 + $257,476 related

  • Greta Stark-Kraker

    PRESIDENT

    Total calculated
    $140,713
    From this org
    $0
    From related orgs
    $128,607
    Other
    $12,106
    Hours/week
    1 + 40 related

  • Carrie Abfalter

    SECRETARY

    Total calculated
    $88,771
    From this org
    $0
    From related orgs
    $71,402
    Other
    $17,369
    Hours/week
    1 + 40 related

  • Elise Wiener

    TREASURER

    Total calculated
    $159,290
    From this org
    $0
    From related orgs
    $146,865
    Other
    $12,425
    Hours/week
    1 + 40 related

    Schedule J breakdown matched by us

    Base
    $0 + $133,345 related
    Bonus
    $0 + $12,700 related
    Other
    $0 + $820 related
    Deferred
    $0 + $11,551 related
    Nontaxable benefits
    $0 + $874 related
    Filer's total
    $0 + $159,290 related

  • Sara Carlson

    WACF EXECUTIVE DIRECTOR

    Total calculated
    $172,197
    From this org
    $0
    From related orgs
    $124,645
    Other
    $47,552
    Hours/week
    1 + 40 related

    Schedule J breakdown matched by us

    Base
    $0 + $111,789 related
    Bonus
    $0 + $11,936 related
    Other
    $0 + $920 related
    Deferred
    $0 + $9,858 related
    Nontaxable benefits
    $0 + $37,694 related
    Filer's total
    $0 + $172,197 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. A Schedule J breakdown is as filed: base pay, bonus, other, deferred compensation and nontaxable benefits from this organization, with any from related organizations beside each, and the filer's own total. It is shown with the Part VII listing of the same name on the same return. The form gives no key between the two, so that pairing is ours, and is marked matched by us.

Schedule J

Answered yes

  • 3 · Approval by the board or compensation committee

Answered no

  • 4a · Severance or change-of-control payment
  • 4b · Supplemental nonqualified retirement plan
  • 4c · Equity-based compensation arrangement
  • 5a · Pay contingent on this organization's revenues
  • 5b · Pay contingent on a related organization's revenues
  • 6a · Pay contingent on this organization's net earnings
  • 6b · Pay contingent on a related organization's net earnings
  • 7 · Other non-fixed payments
  • 8 · Paid under the initial-contract exception

The filer's explanations (Part III)

PART I, LINE 3
STEVEN'S COMPENSATION IS APPROVED BY THE BOARD OF DIRECTORS OF COMMUNITYGIVING.

Part I's answers as filed. A line not listed was left unanswered; on lines 1a and 3 that means the box was not checked.

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
20 January 2025
IRS schema version
2023v6.0
Source object
202520209349301442

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