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Nonprofiteer
← FARIBAULT FOUNDATION INC

Form 990 for tax year 2024

Filed by FARIBAULT FOUNDATION INC.

Totals

Total revenue
$2,455,904
Total expenses
$381,312
Contributions and grants received
$2,367,359
Grants paid
$141,365
Program service revenue
$18,207
Investment income
$70,338
Other revenue
$0
Total assets, end of year
$3,371,360
Total liabilities, end of year
$116,517
Net assets or fund balances, end of year
$3,254,843
Program services expenses (Part IX)
$210,147
Management and general expenses
$112,791
Fundraising expenses
$58,374
Program service expenses (Part III)
$210,147

Program services were 55.1% 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

    $2,367,359

  • 1g · Noncash contributions included above

    $55,205

  • 2a · Program service revenue: SERVICE FEE INCOME

    total $18,207 · related or exempt $18,207

  • 3 · Investment income

    total $50,828 · excluded $50,828

  • 7a · Gross sales of assets other than inventory

    securities $382,020

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

    securities $362,510

  • 7c · Gain or loss

    securities $19,510

  • 7d · Net gain or loss

    total $19,510 · excluded $19,510

Functional expenses

Part IX, the statement of functional expenses.

  • 1 · Grants to domestic organizations and governments

    total $140,365 · program services $140,365

  • 2 · Grants to domestic individuals

    total $1,000 · program services $1,000

  • 5 · Compensation of officers, directors and key employees

    total $85,790 · program services $28,311 · management and general $29,168 · fundraising $28,311

  • 7 · Other salaries and wages

    total $19,374 · program services $6,393 · management and general $6,588 · fundraising $6,393

  • 8 · Pension plan contributions

    total $60 · program services $20 · management and general $20 · fundraising $20

  • 9 · Other employee benefits

    total $3,721 · program services $1,228 · management and general $1,265 · fundraising $1,228

  • 10 · Payroll taxes

    total $9,134 · program services $3,014 · management and general $3,106 · fundraising $3,014

  • 11c · Fees: accounting

    total $27,605 · program services $4,502 · management and general $18,600 · fundraising $4,503

  • 11f · Fees: investment management

    total $12,480 · management and general $12,480

  • 11g · Fees: other

    total $27,100 · program services $13,550 · fundraising $13,550

  • 12 · Advertising and promotion

    total $118 · program services $9 · management and general $21 · fundraising $88

  • 13 · Office expenses

    total $19,049 · program services $333 · management and general $18,398 · fundraising $318

  • 14 · Information technology

    total $6,481 · program services $389 · management and general $5,703 · fundraising $389

  • 16 · Occupancy

    total $12,009 · management and general $12,009

  • 19 · Conferences, conventions and meetings

    total $309 · program services $96 · management and general $148 · fundraising $65

  • 23 · Insurance

    total $2,471 · management and general $2,471

  • 24a · Other expenses: SPECIAL EVENTS AND PROJ

    total $10,301 · program services $10,301

  • 24b · Other expenses: DUES AND SUBSCRIPTIONS

    total $1,973 · management and general $1,973

  • 24c · Other expenses: REPAIRS AND MAINTENANCE

    total $625 · program services $219 · management and general $194 · fundraising $212

  • 24e · All other expenses

    total $1,347 · program services $417 · management and general $647 · fundraising $283

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $394,481 · end of year $76,608

  • 2 · Savings and temporary cash investments

    beginning of year $59,272 · end of year $346,195

  • 3 · Pledges and grants receivable

    beginning of year $222,454 · end of year $181,888

  • 4 · Accounts receivable

    end of year $157

  • 9 · Prepaid expenses and deferred charges

    end of year $5,179

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

    $2,937

  • 10b · Land, buildings and equipment: accumulated depreciation

    $0

  • 10c · Land, buildings and equipment, net

    beginning of year $0 · end of year $2,937

  • 11 · Investments: publicly traded securities

    beginning of year $455,929 · end of year $2,758,396

  • 17 · Accounts payable and accrued expenses

    beginning of year $2,903 · end of year $9,014

  • 25 · Other liabilities

    beginning of year $0 · end of year $107,503

  • 27 · Net assets without donor restrictions

    beginning of year $906,779 · end of year $3,072,955

  • 28 · Net assets with donor restrictions

    beginning of year $222,454 · end of year $181,888

Mission and programs · 2024

Mission

THE FARIBAULT FOUNDATION IS ON A MISSION TO IMPOVE THE QUAILITY OF LIFE IN FARIBAULT THROUGH THE GENEROSITY OF DONORS. TO ACCOMPLISH THIS MISSION WE ARE GROWING OUR COMMUNITY FOUNDATION, AND GRANTS WILL BE FOCUSED IN THE FARIBAULT COMMUNITY. MAKING AN IMPACT FOR OUR NON PROFITS AND ENHACING OUR COMMUNITIES PROGRAMS. CURRENTLY OUR MOST SIGNIFICANT ACTIVITY IS TRYING TO GROW OUR ASSETS UNDER MANAGEMENT AND EDUCATE THE COMMUNITY ON WHAT A FOUNDATION DOES AND HOW IT CAN HELP THE ENTIRE COMMUNITY.

Activities or mission (Part I)

IMPROVE THE QUALITY OF LIFE IN FARIBAULT THROUGH THE GENEROSITY OF DONORS

  • FUND ADVISOR SERVICES: THE FARIBAULT FOUNDATION IS DONOR CENTERED, PROVIDING OUR DONOR ADVISED FUNDS (DAF) FUND ADVISORS A MENU OF OPTIONS FOR MAKING GRANT REQUESTS TO THEIR FAVORITE NONPROFITS. FARIBAULT FOUNDATION OFFERS A DONOR PORTAL, WHERE FUND ADVISORS CAN REQUEST GRANTS IN THE SITE. FUND ADVISORS WHO ARE NOT COMFORTABLE WITH TECHNOLOGY CAN SEND AN EMAIL, TEXT, PHONE CALL OR SIMPLY STOP BY THE OFFICE TO GET A GRANT REQUEST STARTED FROM THEIR DAF. OUR EXECUTIVE DIRECTOR IS ON HAND TO PROCESS GRANT REQUESTS FOR FUND ADVISORS IN AN EFFICIENT AND TIMELY MANNER, FOLLOWING OUR DONOR ADVISED FUND GUIDELINES AND ACTIVITY POLICY FOR GRANTMAKING FROM A DAF. DONOR ADVISED FUNDS' INVESTMENTS ARE REVIEWED BY FARIBAULT FOUNDATION INVESTMENT COMMITTEE AND THE BOARD OF DIRECTORS. FUND HOLDER STATEMENTS ARE SENT QUARTERLY.WOMEN WHO CARE/MEN ON A MISSION: PROGRAMING INCLUDES LOCAL PHILANTHROPIST AWARDING GRANTS TO LOCAL NONPROFITS THROUGH THE PROCESS OF IN-PERSON NOMINATION AND VOTING. THIS POPULAR PROGRAM HAS ALLOWED THE FARIBAULT FOUNDATION TO ENGAGE PHILANTHROPISTS LARGE AND SMALL. THROUGH 100 WOMEN WHO CARE OR 100 MEN ON A MISSION, DONORS CAN BE A PART OF GRANTING SIZABLE GRANTS THAT START FROM EVERYONE'S $100 DONATION.COMMUNITY MICROGRANTS: SUPPORTS IMPORTANT PROGRAMS AND ACTIVITIES HAPPENING IN OUR COMMUNITY. THROUGH A SIMPLE GRANT APPLICATION PROCESS, LOCAL NONPROFITS DESCRIBE THEIR PROGRAMS AND ACTIVITIES THAT IMPROVE THE QUALITY OF LIFE FOR FARIBAULT CITIZENS. REQUESTS ARE FOR GRANTS OF $500-$1000. GRANT REPORTS ARE REQUIRED TO KEEP THE FARIBAULT FOUNDATION UP TO DATE ON THE SUCCESS OF THE PROGRAMS AND ACTIVITIES.

    Expenses $210,147 · Grants $141,365 · Revenue $18,207

As filed on the 2024 return. The filer continues this part on Schedule O, which is not shown here.

Listed in Part VII

  • Chad Koepke

    PRESIDENT

    Total calculated
    $0
    Hours/week
    1

  • Christine Shaffer-Brown

    VICE PRESIDENT

    Total calculated
    $0
    Hours/week
    1

  • Todd Markman

    TREASURER

    Total calculated
    $0
    Hours/week
    1

  • Dr Michael Richie

    SECRETARY

    Total calculated
    $0
    Hours/week
    1

  • Patricia Gustafson

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Chad Wolff

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Jeff Jandro

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Ken Hubert

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Dr Sarah Beckmann

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Laura Bock

    EXECUTIVE DIRECTOR

    Total calculated
    $85,790
    From this org
    $83,624
    From related orgs
    $0
    Other
    $2,166
    Hours/week
    40

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

The 10 largest by cash amount. The API serves every itemized grant.

Provenance

Return type
form_990
Tax year
2024
Filed
24 June 2025
IRS schema version
2024v5.2
Source object
202511769349301146

Check it against the return as filed: the GivingTuesday Data Lake hosts a public copy of the original XML.

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