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The Morris Foundation EIN 80-0706745

The Morris Foundation

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A private foundation based in Cokato, MN. It reported about $65K in revenue for 2025. For fiscal year 2025 it reported $65K in revenue, $107K in expenses, and $1.7M in net assets.Pt I

Type
Private foundation / grantmaker · Foundations & Grantmakers
Location
Cokato, MN
Filings
6 on file (2020–2025)
Revenue
$65KFY2025
Expenses
$107K
Net assets
$1.7M
People
6
Filings
6
Updates
0
More identity details & actions ⌄
EIN  80-0706745 Private foundation / grantmaker Cokato, MN
Form 990 (PDF)
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Size
<$100K
What they do
A private foundation based in Cokato, MN. It reported about $65K in revenue for 2025.
Leadership
Garth Asplin · President
Money in and out
$65K revenue, $107K expenses
Bottom line
—
Grants paid & assets · FY2025
Total revenue
$65K
Pt VIII · Ln 12
Total expenses
$107K
Pt IX · Ln 25
Net assets
$1.7M
Pt X · Ln 32
Revenue less expenses (Pt I · Ln 19): −$42K
Total assets
1.7M
deployed as grants and operations
Grants paid
92K
in FY2025
Grants made
16grants
total in period
Payout rate
5%
of assets (5% rule)

Who They Fund

Part XV · grants paid · 16 grants · $92K · 2025–2025
Isd 466 School DistrictFY2025$30,000
Cokato MuseumFY2025$8,000
Cokato Corn CarnivalFY2025$7,000
Ldc Hockey BoostersFY2025$6,120
Special OlympicsFY2025$5,475
City of Cokato - AmbulanceFY2025$5,000
Dassel Fire DeptFY2025$5,000
Cokato Fire DeptFY2025$5,000
Cokato Dassel RotaryFY2025$5,000
Cokato LionsFY2025$4,000
Dc Robotics ClubFY2025$2,500
Dassel Food ShelfFY2025$2,000
Cokato Food ShelfFY2025$2,000
Cokato American LegionFY2025$2,000
Dc Music BoostersFY2025$2,000
Dc Baseball BoostersFY2025$430

Grantmaking Profile

Patterns in foundation giving
Average grantPart XV$6K
Median grantPart XV$5K
Largest grantPart XV$30K

Summary of the Filing

Part I · fiscal year 2025 · Form 990-PF
Revenue
$65K
FY2025▼ -58%
Expenses
$107K
FY2025▲ +10%
Total assets
$1.7M
FY2025▲ +5%
Total liabilities
$0
FY2025
Total revenue
$65K
Pt VIII · Ln 12
Total expenses
$107K
Pt IX · Ln 25
Net assets
$1.7M
Pt X · Ln 32
Total assetsPt II$1.7M

Identity & Classification

Form 990 Header · IRS Business Master File
Legal nameHdr · item CThe Morris Foundation
EINHdr · item D80-0706745
Principal addressHdr · item CCokato, MN
WebsiteHdr · item Jnone reported
State of legal domicileHdr · item MMN
Exempt statusHdr · item I501(c)(3) · active
NTEE classificationIRS BMFFoundations & Grantmakers (T21)
Ruling yearIRS BMFNov 2011

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
Garth Asplin
President
$0Pt VII · Sec A
$0Pt VII · Sec A
Doug Lundeen
Director
$0Pt VII · Sec A
Mark Forsman
Director
$0Pt VII · Sec A
Mike Carpentier
Investment a
$0Pt VII · Sec A
Paul Halonen
Director
$0Pt VII · Sec A
See The Morris Foundation executive salaries →

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Statement of Revenue

Part VIII
Investment income100%$65K
Other revenue$46
Total revenueLn 12$65K

Statement of Functional Expenses

Part IX · allocated across program, management, and fundraising
Allocation · columns B–D
Grants & contributions paid $0.85 Operating & administrative $0.15
Grants & contributions paid85%$92K
Operating & administrative15%$16K
Total functional expensesLn 25$107K

Balance Sheet

Part X · end of year
CashLn 1$14K
Total assetsLn 16$1.7M
Total liabilitiesLn 26$0
Total net assetsLn 32$1.7M
Months of cash on handcomputed1.6

Financial Metrics

Form 990 · FY2025 · each ratio shown with the dollars behind it
Liquidity & Payout
Payout rate
Grants paid $0 · Total assets $1.7M
0%
Where the money comes from
Contribution dependence
Contributions & grants — · Total revenue $65K
—
Government reliance
not reported
Earned-income share
not reported
Investment reliance
Investment income $0 · Total revenue $65K
0%
Program self-sufficiency
not reported
Growth & trend
Revenue growth (YoY)
This year $65K · Prior year $155K
-58%
Revenue CAGR
FY2020 $115K · FY2025 $65K
-11%
Net-asset trend (YoY)
End of year $1.7M · Beginning of year —
Beginning net assets not meaningfully positive — showing dollar change
Balance sheet
Surplus Margin
Revenue $65K · Expenses $107K
-64%
Liabilities-to-Assets
Total liabilities — · Total assets $1.7M
—
Net-asset ratio
Net assets $1.7M · Total assets $1.7M
100%
People & payroll
Highest Reported Total Compensation
Individual Garth Asplin · Reported title PRESIDENT · Highest reported compensation $0 · Total expenses $107K
0%
Personnel share
not reported
Peer comparison

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

MetricThis orgPeer medianPercentile
Revenue growth -58%——

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)$65K revenue · viewing · ⤓ 990 PDF
FY2024$155K revenue · ⤓ 990 PDF
FY2023$21K revenue · ⤓ 990 PDF
FY2022$59K revenue · ⤓ 990 PDF
FY2021$79K revenue · ⤓ 990 PDF
FY2020$115K 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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