Charles K Blandin Foundation EIN 41-6038619

Charles K Blandin Foundation

EIN  41-6038619 Private foundation / grantmaker Grand Rapids, MN
Form 990 (PDF) Compare with another nonprofit →
Verified accurate 8/9/26 · see original filing: IRS
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Size
$10–100M
What they do
A private foundation based in Grand Rapids, MN. It reported about $23.1M in revenue for 2024.
Leadership
Tuleah Palmer · President/CEO & Secretary · $375K
Money in and out
$23.1M revenue, $19.3M expenses
Bottom line

A private foundation based in Grand Rapids, MN. It reported about $23.1M in revenue for 2024. For fiscal year 2024 it reported $23.1M in revenue, $19.3M in expenses, and $501.3M in net assets.Pt I

Grants paid & assets · FY2024
Total revenue
$23.1M
Pt VIII · Ln 12
Total expenses
$19.3M
Pt IX · Ln 25
Net assets
$501.3M
Pt X · Ln 32
Revenue less expenses (Pt I · Ln 19): $3.8M
Total assets
506.3M
deployed as grants and operations
Grants paid
11.1M
in FY2024
Grants made
931grants
total in period
Payout rate
2%
of assets (5% rule)

Who They Fund

Part XV · grants paid · 931 grants · $15.8M · 2024–2024
Greater Minnesota Housing FundMN · FY2024$335,000
Itasca Area Schools CollaborativeFY2024$333,333
Itasca Area Schools CollaborativeFY2024$333,333
Itasca Area Schools CollaborativeFY2024$333,333
Itasca Area Schools CollaborativeFY2024$333,333
Itasca Area Schools CollaborativeFY2024$333,333
Itasca Area Schools CollaborativeFY2024$333,333
Mississippi Headwaters Area Dental Health CenterFY2024$250,000
Mississippi Headwaters Area Dental Health CenterFY2024$250,000
Legal Aid Service of Northeastern MnFY2024$250,000
Minnesota North CollegeFY2024$240,000
Minnesota North CollegeFY2024$240,000
Minnesota North CollegeFY2024$240,000
Minnesota North CollegeFY2024$240,000
Minnesota North CollegeFY2024$240,000
Itasca County Family YMCA INCFY2024$240,000
Itasca County Family YMCA INCFY2024$240,000
Upper Midwest Film OfficeMN · FY2024$200,000
See all 931 grants →

Grantmaking Profile

Patterns in foundation giving
Distinct granteesPart XV80
Average grantPart XV$17K
Median grantPart XV$3K
Largest grantPart XV$335K
Top cause focusNTEEArts & Culture (2%)

Summary of the Filing

Part I · fiscal year 2024 · Form 990-PF
Revenue
$23.1M
FY2024▲ +8%
Expenses
$19.3M
FY2024▼ -11%
Total assets
$506.3M
FY2024▲ +2%
Total liabilities
$5.1M
FY2024▼ -47%
Total revenue
$23.1M
Pt VIII · Ln 12
Total expenses
$19.3M
Pt IX · Ln 25
Net assets
$501.3M
Pt X · Ln 32
Total assetsPt II$506.3M

Identity & Classification

Form 990 Header · IRS Business Master File
Legal nameHdr · item CCharles K Blandin Foundation
EINHdr · item D41-6038619
Principal addressHdr · item CGrand Rapids, MN
WebsiteHdr · item Jwww.blandinfoundation.org
State of legal domicileHdr · item MMN
Exempt statusHdr · item I501(c)(3) · active
NTEE classificationIRS BMFFoundations & Grantmakers (T20)
Ruling yearIRS BMFNov 1944

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
President/CEO & Secretary
$375,389Pt VII · Sec A
CFO & Treasurer
$241,376Pt VII · Sec A
Trustee/Chair & Exec/Gov Comm Chair
$35,700Pt VII · Sec A
Trustee/Finance & Audit Comm Chair
$24,200Pt VII · Sec A
Trustee/Investment Committee Chair
$24,200Pt VII · Sec A
$23,200Pt VII · Sec A
$23,200Pt VII · Sec A
$23,200Pt VII · Sec A

Compensation history total reportable pay by year · 8 named individuals · Part VII

NameFY2024FY2021
Tuleah Palmer$375,389
Tuleah S Palmer$264,866
Daniel Lemm$241,376
Daniel T Lemm$201,560
Wade O Fauth$173,369
Janet L Borth$158,295
Dr Heidi Korstad$37,700
Alice Moren$35,700$21,200

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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Statement of Revenue

Part VIII
Contributions & grants$20.2M · 88%
Investment income$2.8M · 12%
Contributions & grants88%$20.2M
Investment income12%$2.8M
Other revenue$10K
Total revenueLn 12$23.1M

Statement of Functional Expenses

Part IX · allocated across program, management, and fundraising
Allocation · columns B–D
Grants & contributions paid $0.57 Operating & administrative $0.43
Grants & contributions paid57%$11.1M
Operating & administrative43%$8.2M
Total functional expensesLn 25$19.3M

Balance Sheet

Part X · end of year
CashLn 1$2.7M
Total assetsLn 16$506.3M
Total liabilitiesLn 26$5.1M
Total net assetsLn 32$501.3M
Months of cash on handcomputed1.7

Financial Metrics

Form 990 · FY2024 · each ratio shown with the dollars behind it
Liquidity & Payout
Payout rate
Grants paid $0 · Total assets $506.3M
0%
Where the money comes from
Contribution dependence
Contributions & grants — · Total revenue $23.1M
Government reliance
not reported
Earned-income share
not reported
Investment reliance
Investment income $0 · Total revenue $23.1M
0%
Program self-sufficiency
not reported
Growth & trend
Revenue growth (YoY)
This year $23.1M · Prior year $21.3M
+8%
Revenue CAGR
FY2020 $24.1M · FY2024 $23.1M
-1%
Net-asset trend (YoY)
End of year $501.3M · Beginning of year —
Beginning net assets not meaningfully positive — showing dollar change
Balance sheet
Surplus Margin
Revenue $23.1M · Expenses $19.3M
+16%
Liabilities-to-Assets
Total liabilities — · Total assets $506.3M
Net-asset ratio
Net assets $501.3M · Total assets $506.3M
99%
People & payroll
Highest Reported Total Compensation
Individual Tuleah Palmer · Reported title PRESIDENT/CEO & SECRETARY · Highest reported compensation $375K · Total expenses $19.3M
2%
Personnel share
not reported
Peer comparison

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

MetricThis orgPeer medianPercentile
Revenue growth 8%

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
FY2024 (Latest)$23.1M revenue · viewing · ⤓ 990 PDF
FY2023$21.3M revenue · ⤓ 990 PDF
FY2022$21.7M revenue · ⤓ 990 PDF
FY2021$25.8M revenue · ⤓ 990 PDF
FY2020$24.1M revenue · ⤓ 990 PDF

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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
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