Is it real?
Yes. Never revoked by the IRS. Latest filing on record: FY2024. IRS ruling in Dec 1961.
IRS Pub. 78 · IRS Auto-Revocation List · IRS Business Master File
Where the money goes
79 cents of each dollar spent went to programs.
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
27 people listed on the 990; $69K paid to officers and key staff.
Sara McKay’s $69K as Executive Se is at the 60th percentile of top reported officer pay among 1613 $100K–1M education 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 · 3 named individuals · Part VII
| Name | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 |
|---|---|---|---|---|---|
| Sara McKay | $68,600 | $55,180 | — | — | — |
| Angela Gonzales | — | $22,100 | $50,764 | $12,018 | — |
| Laura Resler | — | — | — | $22,880 | $30,082 |
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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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
Grants money for property, equipment, and student scholarships in Steele County.
Questions for Owatonna Foundation INC
Your first name shows with your question. Owatonna Foundation INC answers here, for everyone.
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To provide money grants to other 501(c)(3) agencies to purchase equipment, make improvements, etc. For the community betterment, educational, health, literary, recreational, scientific, musical, or cultural benefit of the residents of the steele county area.
To provide scholarships to local high school graduates and others for continuing secondary education.
Funders
Who pays for it.
From grant filings on record. Receipts are incomplete: individual donors are never listed.
Grants
By the numbers
The FY2024 990, line by line.
Download 990
| Line | Start FY24 | End FY24 |
|---|---|---|
| Cash and savingsLn 1–2 | $211K | $240K |
| InvestmentsLn 11–13 | $9.7M | $10.7M |
| Total assetsLn 16 | $10.1M | $11.2M |
| LiabilitiesLn 26 | $75K | $258K |
| Net assetsLn 32 | $10.0M | $11.0M |
| Line | Total | Programs | Management | Fundraising |
|---|---|---|---|---|
| Grants to domestic organizationsLn 1 | $365K | $365K | ||
| Grants to domestic individualsLn 2 | $28K | $28K | ||
| Pay of current officers, directors and key staffLn 5 | $69K | $13K | $35K | $21K |
| Payroll taxesLn 10 | $5K | $977 | $3K | $2K |
| Advertising and promotionLn 12 | $34K | $6K | $18K | $9K |
| Office expensesLn 13 | $13K | $2K | $10K | $933 |
| OccupancyLn 16 | $5K | $1K | $4K | |
| Conferences, conventions and meetingsLn 19 | $2K | $370 | $2K | |
| InsuranceLn 23 | $7K | $7K | $81 | |
| Other expenses (24a–d)Ln 24 | $28K | $15K | $13K | |
| All other expensesLn 24e | $2K | $350 | $2K | |
| Total functional expensesLn 25 | $559K | $440K | $87K | $32K |
Filing history
| Year | Money in | Money out | In minus out | Net assets | Download |
|---|---|---|---|---|---|
| FY2024 Latest Viewing | $917K | $559K | $358K | $11.0M | 990 PDF |
| FY2023 | $761K | $479K | $283K | $10.0M | 990 PDF |
| FY2022 | $562K | $311K | $251K | $8.7M | 990 PDF |
| FY2021 | $1.6M | $501K | $1.1M | $9.8M | 990 PDF |
| FY2020 | $1.5M | $575K | $945K | $8.1M | 990 PDF |
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Schedules filed Part IV
See the full FY2024 990 (6 parts)
Part I · Summary $916,828 revenue, 12 lines filed
Part VI · Governance 26 of 26 board members independent, 3 to look at
Part VIII · Statement of revenue $916,828 across 6 lines filed
Part IX · Statement of functional expenses $559,000 across 11 lines filed
Part X · Balance sheet $11,232,066 assets, 11 lines filed
Part XI · Reconciliation of net assets $10,973,790 net assets at year end
Form 990 e-file (XML) FY2024 from the IRS · Classification, formation year and address from the IRS Business Master File
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