Security State Bank Foundation: Nonprofit Profile, Financials & Form 990 (EIN 41-1830282)

Security State Bank Foundation Form 990 (PDF) Claim this org

Form 990 (PDF) Claim this org

Form 990 for the fiscal year ending December 2025 (IRS tax year 2025).

A private foundation based in Hibbing, MN.

Type: Private foundation / grantmaker · Foundations & Grantmakers
Location: Hibbing, MN
Filings: 6 on file (2020–2025)

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Provided by the organization

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Total assets

288K

deployed as grants and operations

Grants paid

14K

in FY2025

Grants made

20grants

total in period

Payout rate

of assets (5% rule)

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Who They Fund

Part XV · grants paid · 20 grants · $14K · 2025–2025

Light After LossFY2025$1,000

Hibbing Area ChamberFY2025$1,000

Northern Star ScoutingFY2025$1,000

Hibbing Historical SocietyFY2025$1,000

Sturgeon Chain Lake AssocFY2025$1,000

Finn Eskeli and College of St ScholFY2025$1,000

Hibbing Little LeagueFY2025$1,000

Boys and Girls Club of HibbingFY2025$1,000

Andrew Rasch and Univ of North DakoFY2025$1,000

Families and Communities Thrive TogetherFY2025$500

Family Life Center RangeFY2025$500

Hibbing-Chisholm Rangers Spec OlympicsFY2025$500

N St Louis County 4-HFY2025$500

MdcfairviewFY2025$500

Care PartnersFY2025$500

Hibbing Tourist & Senior Citizen CenterFY2025$500

Northern Aquatics Swim ClubFY2025$500

Hibbing Farmers MarketFY2025$500

See all 20 grants →

Grantmaking Profile

Patterns in foundation giving

Average grantPart XV$700

Median grantPart XV$500

Largest grantPart XV$1K

Summary of the Filing

Part I · fiscal year 2025 · Form 990-PF

Total assets

$288K

FY2025▼ -1%

Total liabilities

FY2025

Total assetsPt II$288K

Identity & Classification

Form 990 Header · IRS Business Master File

Legal name (IRS)Hdr · item CSecurity State Bank Foundation

EINHdr · item D41-1830282

Principal addressHdr · item CHibbing, MN

WebsiteHdr · item Jnone reported

State of legal domicileHdr · item MMN

Exempt statusHdr · item I501(c)(3) · active

NTEE classificationIRS BMFFoundations & Grantmakers (T20)

Ruling yearIRS BMFJun 2014

Governance & Policies

Part VI

Voting members of the governing bodyPt VI · Ln 1apending

Independent voting membersPt VI · Ln 1bpending

Conflict-of-interest policyPt VI · Ln 12a—

Whistleblower policyPt VI · Ln 13—

Document retention policyPt VI · Ln 14—

CEO/top-official compensation independently reviewedPt VI · Ln 15a—

Family or business relationships among officers/directorsPt VI · Ln 2—

Officers, Directors & Key Employees

Part VII, Section A · reportable compensation

Spencer Aune

President

$0Pt VII · Sec A

Kim Thomas

Treasurer

$0Pt VII · Sec A

Mark Gardeski

Director

$0Pt VII · Sec A

Rachel Simmons

Secretary

$0Pt VII · Sec A

Greg Hoag

Director

$0Pt VII · Sec A

Patty Sletten

Director

$0Pt VII · Sec A

Gary Oie

Director

$0Pt VII · Sec A

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Statement of Revenue

Part VIII

Investment income100%$11K

Total revenueLn 12$11K

Statement of Functional Expenses

Part IX · allocated across program, management, and fundraising

Allocation · columns B–D

96%

Grants & contributions paid $0.96 Operating & administrative $0.04

Grants & contributions paid96%$14K

Operating & administrative4%$522

Total functional expensesLn 25$15K

Balance Sheet

Part X · end of year

CashLn 1$286K

Total assetsLn 16$288K

Total liabilitiesLn 26$0

Total net assetsLn 32$288K

Months of cash on handcomputed236.4

Financial Metrics

Form 990 · FY2025 · each ratio shown with the dollars behind it

Liquidity & Payout

Payout rate

Grants paid $0 · Total assets $288K

Where the money comes from

Contribution dependence

Contributions & grants — · Total revenue $11K

—

Government reliance

not reported

Earned-income share

not reported

Investment reliance

Investment income $0 · Total revenue $11K

Program self-sufficiency

not reported

Growth & trend

Revenue growth (YoY)

This year $11K · Prior year $27K

-59%

Net-asset trend (YoY)

End of year $288K · Beginning of year —

Beginning net assets not meaningfully positive — showing dollar change

Balance sheet

Surplus Margin

Revenue $11K · Expenses $15K

-29%

Liabilities-to-Assets

Total liabilities — · Total assets $288K

—

Net-asset ratio

Net assets $288K · Total assets $288K

100%

People & payroll

Highest Reported Total Compensation

Individual Spencer Aune · Reported title President · Highest reported compensation $0 · Total expenses $15K

Personnel share

not reported

Peer comparison

Same NTEE category, revenue band, and state where available. Descriptive — not a grade.

Metric	This org	Peer median	Percentile
Revenue growth	-59%	—	—

Straight from the Form 990 — descriptive, not an evaluation. A ratio is hidden when its base is zero or too small to be meaningful; the dollars are always shown.

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Filings & Schedule Manifest

Part IV

III · Programs I · Grants R · Related orgs G · Fundraising L · Interested persons A · Public support F · Foreign M · Noncash

FY2025 (Latest)$11K revenue · viewing · ⤓ 990 PDF

FY2024$27K revenue · ⤓ 990 PDF

FY2023$30K revenue · ⤓ 990 PDF

FY2022$26K revenue · ⤓ 990 PDF

FY2021$2K revenue · ⤓ 990 PDF

FY2020$19K revenue · ⤓ 990 PDF

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Sources

Every figure above is drawn from these filings

Form 990 e-file (XML) · FY2025IRS

Classification, formation year, addressIRS Business Master File

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