Educare Foundation INC: FY2020 Nonprofit Profile & Form 990 (EIN 41-1745553)

Revenue by fiscal year
FY2020	$80K
FY2021	$120K
FY2022	$132K
FY2023	$95K
FY2024	$202K
FY2025	$142K

Expenses by fiscal year
FY2020	$115K
FY2021	$78K
FY2022	$135K
FY2023	$79K
FY2024	$96K
FY2025	$69K

Net assets by fiscal year
FY2020	$727K
FY2021	$951K
FY2022	$754K
FY2023	$853K
FY2024	$1.0M
FY2025	$1.2M

Is it real?

Yes. Never revoked by the IRS. Latest filing on record: FY2025. IRS ruling in Sep 1994.

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

Where the money goes

87 cents of each dollar spent went to programs.

87%

13%

Program services 87% · $100K Management & general 13% · $15K

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

15 people listed on the 990.

Part VII, Section A · reportable compensation · most recent filed roster (FY2019); the FY2020 filing did not itemize Part VII

Amy Boles

Chair

$0Pt VII · Sec A

Julie Foster

Director

$0Pt VII · Sec A

Sherri Blasing

Director

$0Pt VII · Sec A

Jessica Hatanpa

Vice Chair

$0Pt VII · Sec A

Gretchen Rehm

Secretary

$0Pt VII · Sec A

Chuck Brandel

Director

$0Pt VII · Sec A

Jeffrey Grace

Director

$0Pt VII · Sec A

Jean Farrow

Director

$0Pt VII · Sec A

See Educare Foundation 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

Funds public schools in Mankato for needs beyond their regular budget.

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Provided by the organization

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1 program · $100K · in their own filed words · FY2019

01

To provide support to minnesota school district 77 schools in core subject tutoring, technology aided learning, world language competency and high expectation learning through the use of grants.

$100Kprogram expense

Funders

Who pays for it.

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

Grants

Schedule I · received and paid

Grants received · FY2024

Mankato Clinic Foundation INCFY2024$25K

Mankato Area FoundationFY2024$10K

Mayo Clinic Group ReturnFY2024$10K

Total grants receivedfrom 3 funders$46K

See all 3 funders →

Grants paid · 4 grants · $318K · 2020–2024

Independent School District #77FY2024$57,098

Independent School District #77FY2023$85,838

Independent School District #77FY2021$115,765

Independent School District #77FY2020$59,095

By the numbers

The FY2020 990, line by line.

Download 990

from philanthropy.org

1The main four

Money inPt VIII

$80K

Ln 12

Gifts and grantsLn 1h$47K

Investment incomeLn 3$33K

Money outPt IX

$115K

Ln 25

Programscol B$100K

Managementcol C$15K

Owns and owesPt X

$727K

net assets · Ln 32

Cash and savingsLn 1–2$107K

Total assetsLn 16$826K

LiabilitiesLn 26$98K

PeoplePt VI, VII

15

listed · VII A

PaidVII A0

Voting boardVI 1a15

IndependentVI 1b15

2In more detail

Revenue in detailPt VIII

Gifts and grantsLn 1h$47K

Investment incomeLn 3$33K

Gains on assetsLn 7$915

Total revenueLn 12$80K

Assets in detailPt X, end of year

CashLn 1−$1

SavingsLn 2$107K

Cash and savings togetherLn 1–2$107K

InvestmentsLn 11–13$719K

Total assetsLn 16$826K

LiabilitiesLn 26$98K

Net assetsLn 32$727K

OperationsPt I, VI

EmployeesI 50

VolunteersI 650

Fiscal year endsHeaderJune

Conflict-of-interest policyVI 12aYes

Whistleblower policyVI 13Yes

Records policyVI 14Yes

3Year over year

Balance sheet, start vs end of yearPt X · col A, B

Line	Start FY20	End FY20
Cash and savingsLn 1–2	$139K	$107K
InvestmentsLn 11–13	$676K	$719K
Total assetsLn 16	$817K	$826K
LiabilitiesLn 26	$71K	$98K
Net assetsLn 32	$746K	$727K

4Every line

Statement of functional expensesPt IX · every line

Line	Total	Programs	Management	Fundraising
Grants to domestic organizationsLn 1	$96K	$96K
Management feesLn 11a	$5K	$2K	$2K
Accounting feesLn 11c	$5K		$5K
Advertising and promotionLn 12	$889	$889
Office expensesLn 13	$80	$40	$40
InsuranceLn 23	$1K	$700	$700
Other expenses (24a–d)Ln 24	$7K	$56	$7K
Total functional expensesLn 25	$115K	$100K	$15K	$0

Filing history

Year	Money in	Money out	In minus out	Net assets	Download
FY2025 Latest	$142K	$69K	$73K	$1.2M	990 PDF
FY2024	$202K	$96K	$106K	$1.0M	990 PDF
FY2023	$95K	$79K	$16K	$853K	990 PDF
FY2022	$132K	$135K	−$3K	$754K	990 PDF
FY2021	$120K	$78K	$42K	$951K	990 PDF
FY2020 Viewing	$80K	$115K	−$35K	$727K	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 FY2020 990 (6 parts)

Part I · Summary $79,872 revenue, 12 lines filed

I-8 Contributions and grantsPrior year $177,022$46,648

I-9 Program service revenuePrior year $0$0

I-10 Investment incomePrior year $42,439$33,224

I-11 Other revenuePrior year $2,598$0

I-12 Total revenuePrior year $222,059$79,872

I-13 Grants and similar amounts paidPrior year $70,186$95,688

I-14 Benefits paid to membersPrior year $0$0

I-15 Salaries and benefitsPrior year $0$0

I-16a Professional fundraising feesPrior year $0$0

I-17 Other expensesPrior year $21,286$19,230

I-18 Total expensesPrior year $91,472$114,918

I-19 Revenue less expensesPrior year $130,587−$35,046

Part VI · Governance 15 of 15 board members independent, 1 to look at

VI-1a Voting members of the governing body15

VI-1b Independent voting members15

VI-15a Process for setting top official's payNo

VI-2 Family or business relationship among officers or directorsNo

VI-12a Written conflict of interest policyYes

VI-13 Written whistleblower policyYes

VI-14 Document retention and destruction policyYes

Part VIII · Statement of revenue $79,872 across 5 lines filed

VIII-1f All other contributions, gifts and grants$46,648

VIII-1h Total contributions, gifts and grants$46,648

VIII-3 Investment incomeExcluded from tax $32,309$32,309

VIII-7 Net gain or loss on sales of assetsExcluded from tax $915$915

VIII-12 Total revenueRelated to mission $0 · Unrelated business $0 · Excluded from tax $33,224$79,872

Part IX · Statement of functional expenses $114,918 across 7 lines filed

IX-1 Grants to domestic organizationsPrograms $95,688$95,688

IX-11a Management feesPrograms $2,310 · Management $2,310$4,620

IX-11c Accounting feesManagement $4,771$4,771

IX-12 Advertising and promotionPrograms $889$889

IX-13 Office expensesPrograms $40 · Management $40$80

IX-23 InsurancePrograms $700 · Management $700$1,400

IX-24 Other expenses (24a–d)Programs $56 · Management $7,414$7,470

IX-25 Total functional expensesPrograms $99,683 · Management $15,235 · Fundraising $0$114,918

Part X · Balance sheet $825,675 assets, 11 lines filed

X-1 Cash, non-interest-bearing−$1

X-2 Savings and temporary cash investmentsStart of year $139,367$106,839

X-12 Other securitiesStart of year $676,478$718,837

X-16 Total assetsStart of year $817,345$825,675

X-17 Accounts payable and accrued expenses$1,634

X-18 Grants payableStart of year $71,069$96,745

X-26 Total liabilitiesStart of year $71,069$98,379

X-27 Net assets without donor restrictionsStart of year $710,411$691,431

X-28 Net assets with donor restrictionsStart of year $35,865$35,865

X-32 Total net assets or fund balancesStart of year $746,276$727,296

X-33 Total liabilities and net assetsStart of year $817,345$825,675

Part XI · Reconciliation of net assets $727,296 net assets at year end

XI-1 Total revenue$79,872

XI-2 Total expenses$114,918

XI-3 Revenue less expenses−$35,046

XI-4 Net assets at start of year$746,276

XI-5 Net unrealized gains (losses) on investments$16,068

XI-9 Other changes in net assets$0

XI-10 Net assets at end of year$727,296

Form 990 e-file (XML) FY2020 from the IRS · Classification, formation year and address from the IRS Business Master File

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Educare Foundation INC FY2020 filing

Before you give

Is it real?

Where the money goes

Who runs it and what they're paid

Questions the 990 asks

Programs and updates

Questions for Educare Foundation INC

Funders

Grants

By the numbers

Filing history

Schedules filed Part IV