2021-11-11T08:42:29-06:00 2020-12-31 411397419 Abdo Eick & Meyers LLP 5201 Eden Avenue Suite 250 Edina MN 55436 990 2020-01-01 411761590 Grand Rapids Area Community Foundation GRAN 2189999100 350 NW First Ave No E Grand Rapids MN 55744 Susan Lynch Executive Director 2189999100 2021-11-09 1 Susan Lynch 999009999 Steven D Anseth CPA P00552219 9528359090 2021-11-02 2 AAL1 IAL1 2020 2022-09-23 18:48:47Z Susan Lynch 350 NW First Ave No E Grand Rapids MN 55744 10856189 0 X www.gracf.org X 1993 MN Inspire individuals and organizations to invest in the community to improve quality of life. 12 12 7 155 0 0 2001181 3029350 0 0 964891 1233141 895 10801 2966967 4273292 1437072 1817526 0 0 261713 234640 0 0 32766 137506 335126 1836291 2387292 1130676 1886000 24515040 27178188 426168 331440 24088872 26846748 Inspire individuals and organizations to invest in their community to improve the quality of life. 0 0 2157547 1817526 In 2020, the Foundation provided 956 grants, totaling $2,370,000 back to the community. 139 scholarships were given to individuals and families. The Foundation has a diverse group of donors and community need. 2157547 1 1 0 0 0 1 0 0 0 1 1 0 0 0 1 0 1 0 0 0 0 0 0 0 0 0 0 1 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 1 5 0 1 7 1 0 0 0 0 0 0 0 0 0 0 0 0 X 12 12 0 0 0 0 0 0 0 1 1 0 0 1 1 1 1 0 1 1 1 0 MN X X X Shannon Benolken 2189999100 350 NW First Ave No E Grand Rapids MN 55744 Rhett Johnson Chair 5.00 X X 0 0 0 Cynthia Margo Chair Elect 5.00 X X 0 0 0 Kristian Myers Vice Chair 5.00 X X 0 0 0 Amy Trast Treasurer 5.00 X X 0 0 0 Kathy Dodge Secretary 5.00 X X 0 0 0 Shannon Benolken Director 1.00 X 0 0 0 Steven Burggraf Director 1.00 X 0 0 0 Kelly Kabotoff Director 1.00 X 0 0 0 Isaac Meyer Director 1.00 X 0 0 0 Jerry Ophoven Director 1.00 X 0 0 0 Julie Wilcox Director 1.00 X 0 0 0 Kelly Kirwin Past Chair 1.00 X 0 0 0 Chris Fulton Executive Director 40.00 X 32079 0 944 Susan Lynch Executive Director 40.00 X 20300 0 300 52379 0 1244 0 0 0 0 0 3029350 3029350 568143 568143 7245758 2137 6580753 2144 665005 -7 664998 664998 Miscellaneous revenue 900099 10801 10801 10801 4273292 0 0 1243942 1539335 1539335 278191 278191 53623 34855 10725 8043 159754 85450 65753 8551 4127 2325 1483 319 563 209 401 -47 16573 9335 5956 1282 67979 67979 79 79 10196 7647 2549 35727 18136 14720 2871 2106 1106 833 167 30121 15826 11912 2383 349 314 35 7103 6393 710 2805 1474 1109 222 2886 1517 1141 228 Program expense 150385 150385 Membership dues and sub 8188 8188 Miscellaneous 7183 2869 4314 Gift processing fees 5870 5870 4149 2180 1641 328 2387292 2157547 196979 32766 579229 1172008 1508894 405646 339089 412006 14050 59569 54281 8100 5288 22079728 25169190 24515040 27178188 79791 52469 3213 40250 112406 17016 230758 221705 426168 331440 X 484588 617272 23604284 26229476 24088872 26846748 24515040 27178188 1886000 953784 -81908 0 X X 0 1 X 1 0 X 1910065 1484131 2094989 2001181 3029350 10519716 1910065 1484131 2094989 2001181 3029350 10519716 2445285 8074431 395412 418658 642780 517188 568143 2542181 895 10801 11696 13073593 0.61760 0.65840 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 48 870995 307510 4888906 1 1 20507223 1295733 1800042 701429 22901569 16520916 1209221 3409367 632281 20507223 17377404 917364 -1074898 698954 16520916 15132720 735261 2055387 545964 17377404 2000000 2000000 0.77920 0.22080 0 0 59569 54281 5288 5288 Annuities payable 214416 Funds held for others 7289 221705 X 5145168 953784 953784 4191384 81908 81908 4273292 2387292 0 2387292 0 2387292 Part V, Line 4: The Foundation's endowment consist of funds established for a variety of purposes. The endowment is comprised of donor-restrcited endowment funds. As required by accounting principles generally accepted in the United States of America, net assets associated with endowment funds are classified and reported based on the existance or absence of donor imposed restrictions. Part X, Line 2: The Foundation is exempt from income taxes under Section 501(c)(3) of the Internal Revenue Code and corresponding state code. As such, no provision for income taxes has been made in the accompanying statements. The Foundation is not a private foundation and contributions to the Foundation qualify as a charitable tax deduction by the contributor. The Foundation's income tax returns are subject to review and examination by federal and state authorities in accordance with prescribed statutes. The Foundation has not been examined for any open years. 1 Bemidji State University 1500 Birchmont Drive NE Bemidji MN 566012699 411687554 School 7950 Annual Distribution - Scholarships Bigfork Valley Hospital 258 Pine Tree Drive Bigfork MN 56628 411242647 Hospital 21101 Annual Distribution Blandin Employees For Life Fund 115 SW 1st Street Grand Rapids MN 55744 411761590 501(C)(3) 6000 Annual Distribution Boys & Girls Clubs of Grand Rapids and Greenway PO Box 61 Grand Rapids MN 55744 410969947 501(C)(3) 27100 Annual Distribution Buck Lake Improvement Club 15385 Co Rd 539 Nashwauk MN 55769 237364657 501(C)(3) 12800 Annual Distribution City of Keewatin PO Box 190 Keewatin MN 55753 416005270 501(C)(3) 5200 Annual Distribution College of St Scholastica 1200 Kenwood Ave Duluth MN 558114199 410698301 School 8500 Annual Distribution - Scholarships Community Cafe Inc PO Box 5192 Grand Rapids MN 55744 201239743 501(C)(3) 30900 Annual Distribution Deer River Fire Department PO Box 312 Deer River MN 56636 416005091 501(C)(3) 5000 Annual Distribution Deer River Firemans Relief Association PO Box 312 Deer River MN 56636 416037146 501(C)(3) 9500 Annual Distribution Deer River Healthcare Volunteers 115 10th Ave Deer River MN 56636 411770765 501(C)(3) 7500 Annual Distribution District 318 Endowment Fund 820 NW First Avenue Grand Rapids MN 55744 411761590 School 26897 Annual Distribution ElderCircle 400 River Rd Suite 1 Grand Rapids MN 55744 411994691 501(C)(3) 19078 Annual Distribution Forward Health Foundation 1057 Comstock Drive Deer River MN 56636 411770765 501(C)(3) 8000 Annual Distribution Free Range Food Co-op PO Box 842 Grand Rapids MN 55744 811476487 501(C)(3) 9374 Annual Distribution Grand Itasca Foundation 1601 Golf Course Road Grand Rapids MN 55744 411560554 501(C)(3) 48489 Annual Distribution Grand Rapids Area Library Friends 140 NE 2nd Street Grand Rapids MN 55744 411422956 501(C)(3) 5750 Annual Distribution Grand Rapids Band Endowment 800 Conifer Drive Grand Rapids MN 55744 411761590 501(C)(3) 132336 Annual Distribution Grand Rapids Farmers Market 62817 Great River Rd Jacobson MN 55752 274848701 501(C)(3) 6350 Annual Distribution Great Tails Animal Rescue 816 S Pokegama Ave Ste F Grand Rapids MN 55744 832424258 501(C)(3) 37820 Annual Distribution Hibbing Community College 1515 E 25th Street Hibbing MN 55746 411687554 School 14000 Annual Distribution - Scholarships ISD #317 500 5th ST SE Deer River MN 56636 416001597 School 8768 Annual Distribution ISD #318 820 NW 1st Avenue Grand Rapids MN 55744 416001593 School 543000 Noble Hall Field Improvement Support Itasca Community College 1851 E Hwy 169 Grand Rapids MN 55744 411687554 School 25401 Annual Distribution - Scholarships Itasca Community College Financial Aid Office 1851 E Hwy 169 Grand Rapids MN 55744 411687554 501(C)(3) 30750 Annual Distribution - Scholarships Itasca County Family YMCA 400 River Road Grand Rapids MN 55744 411358634 501(C)(3) 6388 Annual Distribution Itasca County Habitat for Humanity 510 SE 11th Street Grand Rapids MN 55744 411732842 501(C)(3) 13000 Annual Distribution Itasca County Historical Society 201 N Pokegama AV Grand Rapids MN 55744 410984222 501(C)(3) 6471 Annual Distribution Itasca County Land Dept 1177 LaPrairie Ave Grand Rapids MN 55744 416005810 501(C)(3) 10000 Annual Distribution Itasca Economic Development Corporation 12 NW 3rd Street Grand Rapids MN 55744 411413301 501(C)(3) 105000 Annual Distribution Itasca Hospice Foundation 202 NE 3rd St Grand Rapids MN 55744 411375722 501(C)(3) 23494 Annual Distribution Itasca Orchestra & Strings Program PO Box 140 Grand Rapids MN 55744 411423314 501(C)(3) 9928 Annual Distribution Itasca Youth for Christ 412 Pokegama Ave N Grand Rapids MN 55744 411325636 501(C)(3) 23000 Annual Distribution KOOTASCA Community Action 201 NW 4th St Suite 130 Grand Rapids MN 55744 410904805 501(C)(3) 21076 Annual Distribution Lake Superior College 2101 Trinity RD Duluth MN 55811 363257072 School 5486 Annual Distribution - Scholarships MacRostie Art Center 405 NW 1st Avenue Grand Rapids MN 55744 237105948 501(C)(3) 6037 Annual Distribution Minnesota State University Mankato 128 Wigley Administration Center Mankato MN 56001 411687554 School 7500 Annual Distribution - Scholarships Nashwauk- Keewatin Schools PO Box 211 Nashwauk MN 55769 416001598 School 11453 Annual Distribution North Dakota State University PO Box 6050 Fargo ND 58108 456002439 School 12250 Annual Distribution - Scholarships Northern Community Radio 260 NE 2nd Street Grand Rapids MN 55744 410989515 501(C)(3) 19801 Annual Distribution Northern Lights Nordic Ski Club PO Box 475 Grand Rapids MN 55744 411748417 501(C)(3) 6400 Annual Distribution Project Care Free Clinic 100 3rd St NW Grand Rapids MN 55744 273176137 501(C)(3) 12000 Annual Distribution Reif Arts Council 720 Conifer Drive Grand Rapids MN 55744 411447509 501(C)(3) 18834 Annual Distribution Second Harvest North Central Food Bank 2222 Cromell Drive Grand Rapids MN 55744 411782776 501(C)(3) 64050 Annual Distribution SPARK 350 NW 1st Ave Suite E Grand Rapids MN 55744 411761590 501(C)(3) 34450 Annual Distribution Support Within Reach 1325 NW 4th St Grand Rapids MN 55744 411740735 501(C)(3) 5000 Annual Distribution United Methodist Church of Grand Rapids 1701 SE 5th Avenue Grand Rapids MN 55744 411404693 501(C)(3) 9250 Annual Distribution University of Minnesota - Duluth 1049 University Drive Duluth MN 55812 416007513 School 16000 Annual Distribution - Scholarships University of Minnesota Foundation 200 Oak ST SE Suite 500 Minneapolis MN 554552010 416042488 501(C)(3) 6000 Annual Distribution University of MN Extension 123 NE 4 ST Grand Rapids MN 55744 416007513 501(C)(3) 6534 Annual Distribution University of North Dakota - Grand Forks 264 Centennial Dr Stop 7155 Grand Forks ND 582027155 456002491 School 15500 Annual Distribution - Scholarships Zion Lutheran Church 2901 South Hwy 169 Grand Rapids MN 55744 416008175 501(C)(3) 6869 Annual Distribution 38 52 Scholarships and awards 904 278191 Form 990, Part VI, Section B, line 11b The Form 990 is reviewed by the finance committee and presented to the Board of Directors for further review and final approval. This includes an audit presentation to the Board of Directors by the auditing agency. Form 990, Part VI, Section B, line 12c The conflict of interest policy delineates the responsibilities of all board members and staff of the Community Foundation. This policy is personally signed on an annual basis at the annual meeting or as soon as available thereafter. Records are maintained in the Executive Director's office. Conflicts of interest are rare, but board processes account for regular reminders and enforcement as needed. Form 990, Part VI, Section B, line 15 Board officers are not compensated per bylaws. The governance committee has responsibility to "recommend for approval by the board compensation for the Executive Director and key staff". This is accomplished at the yearly November board meeting. Compensation is generally determined by comparison to the latest salary tables as published by The Council on Foundations Longevity, market performance, inflation, and merit can impact compensation on a year-to-year basis. Form 990, Part VI, Section C, line 19 Governing documents, including bylaws and policies are available upon request. Audit reports and Form 990s (recent 3 years) are available as requested directly from the staff. Form 990s are also available on GuideStar. Form 990, Part XII, Line 2c: The process has not changed from the prior year.