Austin Area Foundation FY2021 filing

Tax-deductible

Austin, MN501(c)(3)Foundations & GrantmakersEIN 58-2671449

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501(c)(3) charity; gifts are tax-deductible.
97¢ of each $1 spent went to programs.
$35K paid to officers and key staff.
Mission: Form 990 Part I, line 1 · Status: IRS Pub. 78 · Programs: Part IX · Pay: Part VII

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FY2021 · 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
FY2024
latest Form 990
Looks good: the latest return is for FY2024, 2 tax years back; within 2 tax years.
IRS e-file · Filing history
Surplus or deficit
5 of 5
filings with a surplus
Average surplus $331K a year · 50% of revenue · last 5 filings
Looks good: a surplus in 5 of the last 5 filings.
Pt I · Ln 19 · 5 filings
Spent on programs
97%
of spending
Looks good: 97% of spending went to programs; 75% or more.
Pt IX · Ln 25 · col B
Pay to officers and key staff
$35K
to officers and key staff · 13% of spending
Looks good: pay to officers and key staff is 13% of spending; 15% or less.
Pt VII · Sec A
Cash reserves
34 mo
of spending, in cash
Looks good: 34.1 months of spending in cash; 3 or more.
Pt X · Ln 1–2 · Pt I · Ln 18
Named funders
4
named funders · $52K
Looks good: 4 funders name it on their filings; 3 or more.
Funders’ Sch. I, 990-PF
Liabilities
$0
0% of total assets
Looks good: liabilities are 0% of assets; 50% or less.
Pt X · Ln 26
Independent board members
18
of 18 voting members
Looks good: 18 of 18 voting members are independent, a majority.
Pt VI · Ln 1a–1b
Looks goodFineWorth a lookConcernNo data yetTap a box for the reason.
Revenue
$867K
+262% vs prior year
Spent
$269K
To programs
97%
Net assets
$2.9M
By yearFY2020–FY2024
Revenue
$867K
FY2021▲ +262%
Revenue by fiscal year
FY2020$240K
FY2021$867K
FY2022$781K
FY2023$460K
FY2024$941K
Expenses
$269K
FY2021▲ +48%
Expenses by fiscal year
FY2020$183K
FY2021$269K
FY2022$395K
FY2023$306K
FY2024$480K
Net assets
$2.9M
FY2021▲ +37%
Net assets by fiscal year
FY2020$2.1M
FY2021$2.9M
FY2022$3.0M
FY2023$3.3M
FY2024$4.0M

From the FY2021 Form 990 · see the original

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You’re viewing the FY2021 filing — not the latest on file. See the latest (FY2024) →

Is it real?

Yes. Never revoked by the IRS. Latest filing on record: FY2024. IRS ruling in Sep 2003.

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

Where the money goes

97 cents of each dollar spent went to programs.

Program services 97% · $261K Management & general 3% · $8K

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

19 people listed on the 990; $35K paid to officers and key staff.

Part VII, Section A · reportable compensation
Executive Dir.
$35,167Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A
Vice President
$0Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A

Stephen Barrett’s $58K as Executive Dir. is at the 54th percentile of top reported officer pay among 1264 $100K–1M philanthropy & grantmaking 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 · 2 named individuals · Part VII

NameFY2024FY2023FY2022FY2021FY2020
Stephen Barrett$57,665$51,935$33,293$35,167$18,218
Jeff Baldus————$19,474

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.

See Austin Area Foundation 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 15aYes

Programs and updates

Manages and distributes charitable gifts to support other nonprofits.

Provided by the organization

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1 program service account for $261K of program spending, described in the organization's own filed words · FY2021.
01

Maintain and enhance resources of the austin area by supporting qualified nonprofit organizations

$261Kprogram 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 4 funders →
Grants paid · 14 grants · $342K · 2020–2023
Life Mower CountyMN · FY2023$12,700
Life Mower CountyMN · FY2022$16,110
Mower County 4hMN · FY2021$45,000
Life Mower CountyMN · FY2021$29,912
Austin Public SchoolsFY2020$61,568
Salvation ArmyMN · FY2020$6,000

By the numbers

The FY2021 990, line by line.

1The main four
Money inPt VIII
$867K
Ln 12
Gifts and grantsLn 1h$707K
Investment incomeLn 3$105K
Other incomeLn 4–11$55K
Money outPt IX
$269K
Ln 25
Programscol B$261K
Managementcol C$8K
Owns and owesPt X
$2.9M
net assets · Ln 32
Cash and savingsLn 1–2$765K
Total assetsLn 16$2.9M
LiabilitiesLn 26$0
PeoplePt VI, VII
19
listed · VII A
PaidVII A1
Voting boardVI 1a18
IndependentVI 1b18
2In more detail
Revenue in detailPt VIII
Gifts and grantsLn 1h$707K
Investment incomeLn 3$105K
Other incomeLn 4–11$55K
Gains on assetsLn 7$345
Total revenueLn 12$867K
Assets in detailPt X, end of year
CashLn 1$175K
SavingsLn 2$590K
Cash and savings togetherLn 1–2$765K
InvestmentsLn 11–13$1.7M
Land, buildings, equipmentLn 10c$379K
Other assetsLn 15$0
Total assetsLn 16$2.9M
LiabilitiesLn 26$0
Net assetsLn 32$2.9M
OperationsPt I, VI
EmployeesI 51
VolunteersI 618
Fiscal year endsHeaderDecember
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
LineStart FY21End FY21
Cash and savingsLn 1–2$266K$765K
InvestmentsLn 11–13$1.5M$1.7M
Land, buildings, equipmentLn 10c$379K$379K
Total assetsLn 16$2.1M$2.9M
LiabilitiesLn 26$1$0
Net assetsLn 32$2.1M$2.9M
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Grants to domestic organizationsLn 1$196K$196K
Grants to domestic individualsLn 2$0
Grants and assistance to foreign recipientsLn 3$0
Benefits paid to or for membersLn 4$0
Pay of current officers, directors and key staffLn 5$35K$32K$4K
Pay of disqualified personsLn 6$0
Other salaries and wagesLn 7$0
Pension plan contributionsLn 8$0
Other employee benefitsLn 9$0
Payroll taxesLn 10$3K$3K$312
Management feesLn 11a$0
Legal feesLn 11b$0
Accounting feesLn 11c$876$876
Lobbying feesLn 11d$0
Professional fundraising feesLn 11e$0
Investment management feesLn 11f$4K$4K
Other fees for servicesLn 11g$0
Advertising and promotionLn 12$139$139
Office expensesLn 13$318$286$32
Information technologyLn 14$4K$4K
RoyaltiesLn 15$0
OccupancyLn 16$17K$15K$2K
TravelLn 17$0
Travel and entertainment for public officialsLn 18$0
Conferences, conventions and meetingsLn 19$49$49
InterestLn 20$0
Payments to affiliatesLn 21$0
Depreciation, depletion and amortizationLn 22$0
InsuranceLn 23$393$393
Other expenses (24a–d)Ln 24$6K$6K
All other expensesLn 24e$2K$815$803
Total functional expensesLn 25$269K$261K$8K$0

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2024 Latest $941K$480K$461K$4.0M 990 PDF
FY2023 $460K$306K$154K$3.3M 990 PDF
FY2022 $781K$395K$386K$3.0M 990 PDF
FY2021 Viewing $867K$269K$598K$2.9M 990 PDF
FY2020 $240K$183K$57K$2.1M 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 FY2021 990 (4 parts)
Part VIII · Statement of revenue $867,122 across 8 lines filed
VIII-1f All other contributions, gifts and grants$706,899
VIII-1h Total contributions, gifts and grants$706,899
VIII-3 Investment incomeExcluded from tax $104,785$104,785
VIII-5 Royalties$0
VIII-6 Net rental income or lossExcluded from tax $12,460$12,460
VIII-7 Net gain or loss on sales of assetsExcluded from tax $345$345
VIII-8 Net income from fundraising eventsExcluded from tax $42,633$42,633
VIII-12 Total revenueExcluded from tax $160,223$867,122
Part IX · Statement of functional expenses $269,300 across 31 lines filed
IX-1 Grants to domestic organizationsPrograms $196,069$196,069
IX-2 Grants to domestic individuals$0
IX-3 Grants and assistance to foreign recipients$0
IX-4 Benefits paid to or for members$0
IX-5 Pay of current officers, directors and key staffPrograms $31,650 · Management $3,517$35,167
IX-6 Pay of disqualified persons$0
IX-7 Other salaries and wages$0
IX-8 Pension plan contributions$0
IX-9 Other employee benefits$0
IX-10 Payroll taxesPrograms $2,804 · Management $312$3,116
IX-11a Management fees$0
IX-11b Legal fees$0
IX-11c Accounting feesManagement $876$876
IX-11d Lobbying fees$0
IX-11e Professional fundraising fees$0
IX-11f Investment management feesPrograms $3,970$3,970
IX-11g Other fees for services$0
IX-12 Advertising and promotionManagement $139$139
IX-13 Office expensesPrograms $286 · Management $32$318
IX-14 Information technologyPrograms $4,100$4,100
IX-15 Royalties$0
IX-16 OccupancyPrograms $15,350 · Management $1,798$17,148
IX-17 Travel$0
IX-18 Travel and entertainment for public officials$0
IX-19 Conferences, conventions and meetingsManagement $49$49
IX-20 Interest$0
IX-21 Payments to affiliates$0
IX-22 Depreciation, depletion and amortization$0
IX-23 InsuranceManagement $393$393
IX-24 Other expenses (24a–d)Programs $6,337$6,337
IX-24e All other expensesPrograms $815 · Management $803$1,618
IX-25 Total functional expensesPrograms $261,381 · Management $7,919 · Fundraising $0$269,300
Part X · Balance sheet $2,872,306 assets, 18 lines filed
X-1 Cash, non-interest-bearingStart of year $83,863$174,987
X-2 Savings and temporary cash investmentsStart of year $181,852$590,282
X-3 Pledges and grants receivable$0
X-4 Accounts receivable$0
X-8 Inventories for sale or use$0
X-9 Prepaid expenses and deferred charges$0
X-10c Land, buildings and equipment, netStart of year $379,000$379,000
X-11 Publicly traded securitiesStart of year $1,454,840$1,728,037
X-12 Other securities$0
X-13 Program-related investments$0
X-14 Intangible assets$0
X-15 Other assets$0
X-16 Total assetsStart of year $2,099,555$2,872,306
X-26 Total liabilitiesStart of year $1$0
X-27 Net assets without donor restrictionsStart of year $32,593$14,467
X-28 Net assets with donor restrictionsStart of year $2,066,961$2,857,839
X-32 Total net assets or fund balancesStart of year $2,099,554$2,872,306
X-33 Total liabilities and net assetsStart of year $2,099,555$2,872,306
Part XI · Reconciliation of net assets $2,872,306 net assets at year end
XI-1 Total revenue$867,122
XI-2 Total expenses$269,300
XI-3 Revenue less expenses$597,822
XI-4 Net assets at start of year$2,099,554
XI-5 Net unrealized gains (losses) on investments$174,930
XI-10 Net assets at end of year$2,872,306

Form 990 e-file (XML) FY2021 from the IRS · Classification, formation year and address from the IRS Business Master File

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