Angel Foundation FY2024 filing

Tax-deductible

Mendota Heights, MN501(c)(3)Since 2000Diseases & DisordersEIN 41-1990883

We offer relief to cancer patients and their loved ones through financial assistance, education, and emotional support.

501(c)(3) charity; gifts are tax-deductible.
82¢ of each $1 spent went to programs.
$368K paid to officers and key staff.
Mission: Form 990 Part I, line 1 · Status: IRS Pub. 78 · Programs: Part IX · Pay: Part VII

Before you give

FY2024 · 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
5 of 6
filings with a surplus
Average surplus $141K a year · 5% of revenue · last 6 filings
Fine: a surplus in 5 of the last 6 filings.
Pt I · Ln 19 · 6 filings
Spent on programs
82%
of spending
Looks good: 82% of spending went to programs; 75% or more.
Pt IX · Ln 25 · col B
Pay to officers and key staff
$368K
to officers and key staff · 11% of spending
Looks good: pay to officers and key staff is 11% of spending; 15% or less.
Pt VII · Sec A
Cash reserves
6 mo
of spending, in cash
Looks good: 6.1 months of spending in cash; 3 or more.
Pt X · Ln 1–2 · Pt I · Ln 18
Named funders
16
named funders · $492K
Looks good: 16 funders name it on their filings; 3 or more.
Funders’ Sch. I, 990-PF
Liabilities
$900K
17% of total assets
Looks good: liabilities are 17% of assets; 50% or less.
Pt X · Ln 26
Independent board members
22
of 23 voting members
Looks good: 22 of 23 voting members are independent, a majority.
Pt VI · Ln 1a–1b
Looks goodFineWorth a lookConcernNo data yetTap a box for the reason.
Revenue
$3.4M
+8% vs prior year
Spent
$3.3M
To programs
82%
Net assets
$4.3M
By yearFY2020–FY2025
Revenue
$3.4M
FY2024▲ +8%
Revenue by fiscal year
FY2020$2.7M
FY2021$2.9M
FY2022$3.0M
FY2023$3.2M
FY2024$3.4M
FY2025$3.5M
Expenses
$3.3M
FY2024▲ +6%
Expenses by fiscal year
FY2020$2.4M
FY2021$2.4M
FY2022$2.8M
FY2023$3.2M
FY2024$3.3M
FY2025$3.6M
Net assets
$4.3M
FY2024▲ +5%
Net assets by fiscal year
FY2020$3.6M
FY2021$4.2M
FY2022$3.8M
FY2023$4.1M
FY2024$4.3M
FY2025$4.3M

From the FY2024 Form 990 · figures checked against the IRS filing · see the original

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Status and standing

Is it real, and can you give to it?

Tax-deductible?
Yes
Per the IRS master file.
Can I give now?
No revocation on IRS record
Not on the IRS revocation list.
Filing up to date?
Yes — filed FY2025
Legal name (IRS)Hdr · item CAngel Foundation
EINHdr · item D41-1990883
Exempt statusHdr · item I501(c)(3) · active
Ruling yearIRS BMFJul 2001
Year of formationHdr · item L2000
Latest filingForm 990FY2025 · Form 990
Principal addressHdr · item CMendota Heights, MN
NTEE classificationIRS BMFDiseases & Disorders (G30)
WebsiteHdr · item Jwww.mnangel.org

Where the money goes

What each dollar paid for.

Statement of Functional Expenses

Part IX · allocated across program, management, and fundraising
Allocation · columns B–D
Program services $0.82 Management & general $0.10 Fundraising $0.08
Program services82%$2.7M
Management & general10%$326K
Fundraising8%$266K
Total functional expensesLn 25$3.3M

Financial health

Is it on solid ground?

Program efficiency
82%
of spending reaches programs
Operating runway
16.6mo
months of highly liquid reserves at operating expense rate
Surplus margin
+2%
revenue over expenses, this year

Summary of the Filing

Part I · fiscal year 2024 · Form 990
Total assets
$5.2M
FY2024▲ +9%
Total assets by fiscal year
FY2020$3.9M
FY2021$4.6M
FY2022$4.4M
FY2023$4.7M
FY2024$5.2M
FY2025$5.1M
Total liabilities
$900K
FY2024▲ +31%
Total liabilities by fiscal year
FY2020$300K
FY2021$405K
FY2022$538K
FY2023$689K
FY2024$900K
FY2025$750K
Revenue less expensesPt I · Ln 19$61K
Total assetsPt X · Ln 16$5.2M
Program-expense ratioPt IX · col B82%
Voting members of governing bodyPt I · Ln 323
Independent voting membersPt I · Ln 422

Balance Sheet

Part X · end of year
CashLn 1$1.7M
Total assetsLn 16$5.2M
Total liabilitiesLn 26$900K
Total net assetsLn 32$4.3M
Months of cash on handcomputed6.1

Statement of Revenue

Part VIII
Contributions & grants$3.3M · 97%
Investment income$184K · 5%
Contributions & grants97%$3.3M
Investment income5%$184K
Total revenueLn 12$3.4M

Financial Metrics

Form 990 · FY2024 · each ratio shown with the dollars behind it
Liquidity & Payout
Operating runway
Highly liquid reserves $4.6M · Operating expenses (Pt IX) $3.3M · Less non-cash grants $15K · Cash operating expenses/yr $3.3M
16.6 months
Where the money goes
Program services
Program services $2.7M · Total expenses $3.3M
82%
Management & General
Management & general $326K · Total expenses $3.3M
10%
Fundraising
Fundraising $266K · Total expenses $3.3M
8%
Cost to raise $1
Fundraising expense (3-yr avg) $277K · Solicited contributions (3-yr avg) $3.1M
$0.09 to raise $1 (3-yr avg)
Where the money comes from
Contribution dependence
Contributions & grants $3.3M · Total revenue $3.4M
97%
Government reliance
Government grants — · Total revenue $3.4M
—
Earned-income share
Program service revenue $0 · Total revenue $3.4M
0%
Investment reliance
Investment income $184K · Total revenue $3.4M
+5%
Program self-sufficiency
Program service revenue $0 · Total expenses $3.3M
0%
Growth & trend
Revenue growth (YoY)
This year $3.4M · Prior year $3.2M
+8%
Revenue CAGR
FY2020 $2.7M · FY2024 $3.4M
+6%
Net-asset trend (YoY)
End of year $4.3M · Beginning of year —
Beginning net assets not meaningfully positive — showing dollar change
Balance sheet
Surplus Margin
Revenue $3.4M · Expenses $3.3M
+2%
Liabilities-to-Assets
Total liabilities — · Total assets $5.2M
—
Net-asset ratio
Net assets $4.3M · Total assets $5.2M
83%
Marketable Investment Share
Publicly traded securities (Pt X, ln 11) $1.6M · Other securities (Pt X, ln 12) $1.3M · Total assets (Pt X, ln 16) $5.2M
56%
People & payroll
Highest Reported Total Compensation
Individual David Becker · Reported title PRESIDENT & CEO · Highest reported compensation $226K · Total expenses $3.3M
7%
Personnel share
Salaries, benefits & payroll (Pt IX 5-10) $1.4M · Total expenses $3.3M
41%
Peer comparison

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

MetricThis orgPeer medianPercentile
Program ratio 82%——
Overhead ratio 10%——
Fundraising cost ratio 8%——
Revenue growth 8%——
Investment management fee ratio 0.3%——
Accounting fee ratio 2%——

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.

Leadership and pay

Who runs it, and what are they paid?

Officers, Directors & Key Employees

Part VII, Section A · reportable compensation
President & CEO
$225,816Pt VII · Sec A
VP of Development
$142,388Pt VII · Sec A
Vice Chair
$0Pt VII · Sec A
Secretary
$0Pt VII · Sec A
Treasurer
$0Pt VII · Sec A
Director
$0Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A

Becker Dave’s $236K as President & CEO is at the 84th percentile of top reported officer pay among 733 $1–10M diseases & disorders nonprofits. Peer set: organizations in the same NTEE major field of work and revenue-size band, compared on each org’s own highest-paid officer/key-employee, from Form 990 Part VII / 990-PF Part VIII. Descriptive placement, not a verdict on whether the pay is appropriate.

Compensation history total reportable pay by year · 4 named individuals · Part VII

NameFY2025FY2024FY2023FY2022FY2021FY2020
Becker Dave$235,663—————
David Becker—$225,816$216,137$198,670$190,890$183,110
Kathy Tolo—$142,388$122,398———
Tolo Kathy$135,542—————

Total reportable compensation (Form 990 Part VII column D / Schedule J column E) by filing year, matched by name within this organization. The Schedule J base / bonus / deferred breakdown is not parsed into this dataset.

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Governance & Policies

Part VI
  • 23Voting board membersPt VI · Ln 1a
  • 22Independent board membersPt VI · Ln 1b
  • Conflict-of-interest policyPt VI · Ln 12aYes
  • Whistleblower policyPt VI · Ln 13Yes
  • Document retention policyPt VI · Ln 14Yes
  • Top official’s pay independently reviewedPt VI · Ln 15aYes
  • Family or business ties among leadersPt VI · Ln 2No

Mission and programs

What it does.

Provides financial aid, education, and support to adult cancer patients and families for stability and strength.

Provided by the organization

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Mission & Programs · Part III

Where the work happens

3 program services account for $2.7M of program spending, described in the organization's own filed words · FY2024.
01

Emergency financial assistance supports adult cancer patients by relieving some of their immediate financial concerns. These financial grants help with basic, non-medical bills such as rent or mortgage, utilities, food, and fuel. Grants provide comfort and peace of mind during the overwhelming months of diagnosis and treatment.

$1.6Mprogram expense
02

Adult and family programs provides education and support to school aged children who have or have had a parent or loved one with cancer by offering innovative activities to help relieve fear and anxiety about the cancer experience, reduce stress, and learn new coping skills.

$688Kprogram expense
03

Financial cancer care connects cancer patients with a social worker and a pro bono certified financial planner through workshops and one-on-one meetings, with the goal of providing education and decreasing anxiety about managing finances as individuals and families navigate the effects of cancer-related financial toxicity.

$501Kprogram 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 · received and paid
Grants received · FY2024
See all 16 funders →
Grants paid · 12 grants · $6.7M · 2020–2025
Unitemized GrantFY2025$1,376,220
Unitemized GrantFY2024$1,339,062
Open Arms of Minnesota INCMN · FY2024$20,000
Unitemized GrantFY2023$1,057,527
Open Arms of Minnesota INCMN · FY2023$40,000
Unitemized GrantFY2022$1,004,209
Unitemized GrantFY2021$884,727
Open ArmsFY2021$30,000
Unitemized GrantFY2020$854,550

Filing history

Every return on file.

YearRevenueExpensesChangeFiling
FY2025 Latest $3.5M$3.6M+2% 990 PDF
FY2024 Viewing $3.4M$3.3M+8% 990 PDF
FY2023 $3.2M$3.2M+6% 990 PDF
FY2022 $3.0M$2.8M+4% 990 PDF
FY2021 $2.9M$2.4M+7% 990 PDF
FY2020 $2.7M$2.4M 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

Full filing: Form 990 for FY2024

Every line we hold from the return, cited to its Part and line.
Part IX · Statement of functional expenses $3,341,230 across 19 lines filed
IX-1 Grants to domestic organizationsPrograms $20,000$20,000
IX-2 Grants to domestic individualsPrograms $1,339,062$1,339,062
IX-5 Pay of current officers, directors and key staffPrograms $169,161 · Management $45,719 · Fundraising $13,716$228,596
IX-7 Other salaries and wagesPrograms $755,394 · Management $90,452 · Fundraising $127,689$973,535
IX-8 Pension plan contributionsPrograms $31,953 · Management $3,664 · Fundraising $5,826$41,443
IX-9 Other employee benefitsPrograms $24,276 · Management $2,979 · Fundraising $4,300$31,555
IX-10 Payroll taxesPrograms $65,799 · Management $9,931 · Fundraising $11,771$87,501
IX-11c Accounting feesManagement $74,387$74,387
IX-11f Investment management feesManagement $17,476$17,476
IX-11g Other fees for servicesPrograms $54,924 · Management $9,200 · Fundraising $37,179$101,303
IX-12 Advertising and promotionPrograms $72,995 · Management $7,568 · Fundraising $14,183$94,746
IX-13 Office expensesPrograms $35,060 · Management $2,833 · Fundraising $16,989$54,882
IX-14 Information technologyPrograms $40,049 · Management $5,209 · Fundraising $27,495$72,753
IX-16 OccupancyPrograms $84,291 · Management $10,389 · Fundraising $12,710$107,390
IX-17 TravelPrograms $1,949 · Management $10,092 · Fundraising $3,636$15,677
IX-22 Depreciation, depletion and amortizationPrograms $22,254 · Management $1,326 · Fundraising $1,896$25,476
IX-23 InsurancePrograms $6,996 · Management $864 · Fundraising $1,236$9,096
IX-24 Other expenses (24a–d)Programs $38,526 · Management $34,882 · Fundraising $665$74,073
IX-24e All other expensesPrograms −$13,493 · Management −$1,365 · Fundraising −$12,863−$27,721
IX-25 Total functional expensesPrograms $2,749,196 · Management $325,606 · Fundraising $266,428$3,341,230

Not shown yet: ratings, outcomes, and peer benchmarks. A Form 990 doesn’t report them.

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Sources

Every figure above is drawn from these filings
Form 990 e-file (XML) · FY2024IRS
Classification, formation year, addressIRS Business Master File
Names, privacy, and removal requests More

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