Danebo INC FY2021 filing

Tax-deductible

Minneapolis, MN501(c)(3)UnclassifiedEIN 41-0711589

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To promote Danish culture and to provide services to seniors. The Danish American Center supports and fosters Danish culture through education and the celebration of traditions, customs, and history.

501(c)(3) charity; gifts are tax-deductible.
65¢ of each $1 spent went to programs.
Mission: Form 990 Part I, line 1 · Status: IRS Pub. 78 · Programs: Part IX

Before you give

FY2021 · Form 990Independent: from IRS data, not the org
Download 990
IRS status
501(c)(3)
not on the IRS revocation list
Looks good: listed by the IRS and not on the revocation list.
IRS BMF · Auto-Revocation List
Tax-deductible gifts
Yes
Donations are tax-deductible
Looks good: the IRS lists gifts to it as deductible.
IRS Pub. 78 · IRS BMF
Latest return
FY2025
latest Form 990
Looks good: the latest return is for FY2025, 1 tax year back; within 2 tax years.
IRS e-file · Filing history
Surplus or deficit
0 of 6
filings with a surplus
Average deficit $24K a year · 14% of revenue · last 6 filings
Concern: a surplus in 0 of the last 6 filings.
Pt I · Ln 19 · 6 filings
Spent on programs
65%
of spending
Fine: 65% of spending went to programs; 65% to 75%.
Pt IX · Ln 25 · col B
Cash reserves
6 mo
of spending, in cash
Looks good: 5.5 months of spending in cash; 3 or more.
Pt X · Ln 1–2 · Pt I · Ln 18
Named funders
1
named funder · $5K
Fine: 1 funder names it on their filings; under 3.
Funders’ Sch. I, 990-PF
Liabilities
$7K
0.2% of total assets
Looks good: liabilities are 0% of assets; 50% or less.
Pt X · Ln 26
Independent board members
17
of 17 voting members
Looks good: 17 of 17 voting members are independent, a majority.
Pt VI · Ln 1a–1b
Looks goodFineWorth a lookConcernNo data yetTap a box for the reason.
Revenue
$67K
-52% vs prior year
Spent
$137K
To programs
65%
Net assets
$3.7M
By yearFY2020–FY2025
Revenue
$67K
FY2021▼ -52%
Revenue by fiscal year
FY2020$139K
FY2021$67K
FY2022$130K
FY2023$209K
FY2024$217K
FY2025$247K
Expenses
$137K
FY2021▼ -11%
Expenses by fiscal year
FY2020$154K
FY2021$137K
FY2022$155K
FY2023$210K
FY2024$232K
FY2025$261K
Net assets
$3.7M
FY2021▲ +5%
Net assets by fiscal year
FY2020$3.5M
FY2021$3.7M
FY2022$3.5M
FY2023$3.6M
FY2024$3.7M
FY2025$3.8M

From the FY2021 Form 990 (year ending June 2021) · see the original

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Is it real?

Yes. Never revoked by the IRS. Latest filing on record: FY2025. IRS ruling in Jun 1941.

IRS Pub. 78 · IRS Auto-Revocation List · IRS Business Master File

Where the money goes

65 cents of each dollar spent went to programs.

Program services 65% · $89K Management & general 24% · $32K Fundraising 11% · $16K

Form 990 Part IX, line 25, columns B–D. Every line is in By the numbers.

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Who runs it and what they're paid

17 people listed on the 990.

Part VII, Section A · reportable compensation · most recent filed roster (FY2020); the FY2021 filing did not itemize Part VII
President
$0Pt VII · Sec A
Vice President
$0Pt VII · Sec A
$0Pt VII · Sec A
Secretary
$0Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A
Director
$0Pt VII · Sec A
$0Pt VII · Sec A
See Danebo INC executive salaries →

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Questions the 990 asks

The form asks each of these directly. These are the filed answers.

  • Family or business ties among officersPt VI · Ln 2No
  • Top official's pay set by an independent reviewPt VI · Ln 15aNo

Programs and updates

Promotes Danish culture and provides services for seniors through education and celebrations.

Provided by the organization

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3 program services account for $83K of program spending, described in the organization's own filed words · FY2020.
01

The danish american center is the community center for the danish community in and about the twin cities area. One of the goals of the center is to provide facilities to its community. Priority for use of space will be:- danish american center events and activitites- danish american center members- affiliated and associated groups

$73Kprogram expense
02

Cheese sale

$10Kprogram expense
03

Danish day gathers more than 200 people and includes guest speakers, danish food, displays, booths, music, crafts, and folk dances. Danish day is the celebration of denmark's constitution and is a tradition with deep roots in minnesota's danish-american community. It has been celebrated every year since the early 20TH century.

$1Kprogram expense

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Funders

Who pays for it.

From grant filings on record. Receipts are incomplete: individual donors are never listed.

Grants

Schedule I · funders on record
Grants received · FY2022
Total grants receivedfrom 1 funder$5K

By the numbers

The FY2021 990, line by line.

1The main four
Money inPt VIII
$67K
Ln 12
Gifts and grantsLn 1h$38K
Investment incomeLn 3$15K
Fees for servicesLn 2g$15K
Money outPt IX
$137K
Ln 25
Programscol B$89K
Managementcol C$32K
Fundraisingcol D$16K
Owns and owesPt X
$3.7M
net assets · Ln 32
Cash and savingsLn 1–2$62K
Total assetsLn 16$3.7M
LiabilitiesLn 26$7K
PeoplePt VI, VII
17
listed · VII A
PaidVII A0
Voting boardVI 1a17
IndependentVI 1b17
2In more detail
Revenue in detailPt VIII
Gifts and grantsLn 1h$38K
Fundraising eventsLn 1c$19K
Fees for servicesLn 2g$15K
Investment incomeLn 3$15K
Total revenueLn 12$67K
Assets in detailPt X, end of year
CashLn 1$57K
SavingsLn 2$6K
Cash and savings togetherLn 1–2$62K
InvestmentsLn 11–13$1.0M
Land, buildings, equipmentLn 10c$2.6M
Other assetsLn 15$22K
Total assetsLn 16$3.7M
LiabilitiesLn 26$7K
Net assetsLn 32$3.7M
OperationsPt I, VI
EmployeesI 50
VolunteersI 6264
Fiscal year endsHeaderJune
Conflict-of-interest policyVI 12aYes
Whistleblower policyVI 13No
Records policyVI 14No
3Year over year
Balance sheet, start vs end of yearPt X · col A, B
LineStart FY21End FY21
Cash and savingsLn 1–2$90K$62K
InvestmentsLn 11–13$766K$1.0M
Land, buildings, equipmentLn 10c$2.6M$2.6M
Total assetsLn 16$3.5M$3.7M
LiabilitiesLn 26$0$7K
Net assetsLn 32$3.5M$3.7M
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Other fees for servicesLn 11g$6K$5K$669
Advertising and promotionLn 12$6K$1K$5K
Office expensesLn 13$18K$18K
Information technologyLn 14$3K$3K
OccupancyLn 16$29K$23K$3K$3K
Conferences, conventions and meetingsLn 19$400$400
Depreciation, depletion and amortizationLn 22$69K$55K$7K$7K
InsuranceLn 23$6K$5K$598$598
Other expenses (24a–d)Ln 24$282$282
Total functional expensesLn 25$137K$89K$32K$16K

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2025 Latest $247K$261K−$15K$3.8M 990 PDF
FY2024 $217K$232K−$15K$3.7M 990 PDF
FY2023 $209K$210K−$788$3.6M 990 PDF
FY2022 $130K$155K−$25K$3.5M 990 PDF
FY2021 Viewing $67K$137K−$70K$3.7M 990 PDF
FY2020 $139K$154K−$15K$3.5M 990 PDF

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Schedules filed Part IV

III · Programs I · Grants R · Related orgs G · Fundraising L · Interested persons A · Public support F · Foreign M · Noncash
See the full FY2021 990 (4 parts)
Part VIII · Statement of revenue $66,927 across 9 lines filed
Lines not itemized here account for $4,863 of total revenue; see the IRS return.
VIII-1b Membership dues$14,037
VIII-1c Fundraising events$18,879
VIII-1f All other contributions, gifts and grants$5,206
VIII-1h Total contributions, gifts and grants$38,122
VIII-2a-f Program service revenue, itemized rows (sum of 2a–2f as filed)Related to mission $10,162$10,162
VIII-3 Investment incomeExcluded from tax $15,222$15,222
VIII-6 Net rental income or lossExcluded from tax −$9,128−$9,128
VIII-8 Net income from fundraising eventsExcluded from tax $7,686$7,686
VIII-12 Total revenueRelated to mission $14,841 · Unrelated business $0 · Excluded from tax $13,964$66,927
Part IX · Statement of functional expenses $137,208 across 9 lines filed
IX-11g Other fees for servicesPrograms $4,952 · Management $669$5,621
IX-12 Advertising and promotionPrograms $1,244 · Fundraising $5,181$6,425
IX-13 Office expensesManagement $18,145$18,145
IX-14 Information technologyManagement $2,932$2,932
IX-16 OccupancyPrograms $23,121 · Management $2,890 · Fundraising $2,890$28,901
IX-19 Conferences, conventions and meetingsPrograms $400$400
IX-22 Depreciation, depletion and amortizationPrograms $54,818 · Management $6,851 · Fundraising $6,852$68,521
IX-23 InsurancePrograms $4,785 · Management $598 · Fundraising $598$5,981
IX-24 Other expenses (24a–d)Management $282$282
IX-25 Total functional expensesPrograms $89,320 · Management $32,367 · Fundraising $15,521$137,208
Part X · Balance sheet $3,680,641 assets, 11 lines filed
X-1 Cash, non-interest-bearingStart of year $84,467$56,766
X-2 Savings and temporary cash investmentsStart of year $5,574$5,574
X-10c Land, buildings and equipment, netStart of year $2,626,444$2,573,400
X-11 Publicly traded securitiesStart of year $766,039$1,022,996
X-15 Other assetsStart of year $21,905$21,905
X-16 Total assetsStart of year $3,504,429$3,680,641
X-17 Accounts payable and accrued expenses$6,683
X-26 Total liabilitiesStart of year $0$6,683
X-27 Net assets without donor restrictionsStart of year $3,504,429$3,673,958
X-32 Total net assets or fund balancesStart of year $3,504,429$3,673,958
X-33 Total liabilities and net assetsStart of year $3,504,429$3,680,641
Part XI · Reconciliation of net assets $3,673,958 net assets at year end
XI-1 Total revenue$66,927
XI-2 Total expenses$137,208
XI-3 Revenue less expenses−$70,281
XI-4 Net assets at start of year$3,504,429
XI-5 Net unrealized gains (losses) on investments$239,810
XI-9 Other changes in net assets$0
XI-10 Net assets at end of year$3,673,958

Form 990 e-file (XML) FY2021 from the IRS · Classification, formation year and address from the IRS Business Master File

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