Angel Fund INC

Tax-deductible

Hibbing, MN501(c)(3)Health CareEIN 81-3348012Revenue $252K in FY2024

On file with the IRSPo Box 114, 55746-0114 · Hibbing, MNTax-exempt since Dec 2016Publicly supported — 509(a)(2)

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To offer financial assistance to Northern Minnesota residents facing cancer for expenses not covered by medical insurance.

501(c)(3) charity; gifts are tax-deductible.
97¢ of each $1 spent went to programs.
Run by 35 volunteers.
Mission: Form 990 Part I, line 1 · Status: IRS Pub. 78 · Programs: Part IX · People: Part I, lines 5–6

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
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
4 of 5
filings with a surplus
Average surplus $67K a year · 34% of revenue · last 5 filings
Fine: a surplus in 4 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
$18K
to officers and key staff · 6% of spending
Top officer’s pay lower than 90% of similar orgs
Looks good: pay to officers and key staff is 6% of spending; 15% or less.
Pt VII · Sec A
Cash reserves
22 mo
of spending, in cash
Looks good: 21.9 months of spending in cash; 3 or more.
Pt X · Ln 1–2 · Pt I · Ln 18
Named funders
1
named funder · $6K
Fine: 1 funder names it on their filings; under 3.
Funders’ Sch. I, 990-PF
Liabilities
$2K
0.4% of total assets
Looks good: liabilities are 0% of assets; 50% or less.
Pt X · Ln 26
Independent board members
13
of 13 voting members
Looks good: 13 of 13 voting members are independent, a majority.
Pt VI · Ln 1a–1b
Looks goodFineWorth a lookConcernNo data yetTap a box for the reason.
Revenue
$252K
+2% vs prior year
Spent
$274K
To programs
97%
Net assets
$556K
By yearFY2020–FY2024
Revenue
$252K
FY2024▲ +2%
Tap a bar for its year
Revenue by fiscal year
FY2020$128K
FY2021$165K
FY2022$192K
FY2023$246K
FY2024$252K
Expenses
$274K
FY2024▲ +79%
Tap a bar for its year
Expenses by fiscal year
FY2020$38K
FY2021$67K
FY2022$116K
FY2023$153K
FY2024$274K
Net assets
$556K
FY2024▼ -4%
Tap a bar for its year
Net assets by fiscal year
FY2020$317K
FY2021$414K
FY2022$485K
FY2023$578K
FY2024$556K

From the FY2024 Form 990 · see the original

Form 990 (PDF) Claim

Is it real?

Yes. Never revoked by the IRS. Latest filing on record: FY2024. IRS ruling in Dec 2016.

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% · $265K Management & general 2% · $6K Fundraising 1% · $2K

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

14 people listed on the 990; $18K paid to officers and key staff.

Part VII, Section A · reportable compensation
Executive Director
$17,500Pt VII · Sec A
$0Pt VII · Sec A
Board Member
$0Pt VII · Sec A
Board Member
$0Pt VII · Sec A
Board Member
$0Pt VII · Sec A
Board Member
$0Pt VII · Sec A
Board Member
$0Pt VII · Sec A
$0Pt VII · Sec A

Kelly Grinsteinner’s $18K as Executive Director is at the 10th percentile of top reported officer pay among 1979 $100K–1M health care 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 · 1 named individual · Part VII

NameFY2024FY2023FY2022
Kelly Grinsteinner$17,500$17,500$8,750

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

Provides financial aid to Northern Minnesota cancer patients for non-medical costs.

Questions for Angel Fund INC

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Provided by the organization

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1 program · $265K · in their own filed words · FY2024
01

Financial assistance provided through grants to help defray costs related to cancer not covered by insurance

$265Kprogram expense

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
Total grants receivedfrom 1 funder$6K
Grants paid · 6 grants · $533K · 2020–2024
Unitemized GrantFY2024$247,367
Unitemized GrantFY2023$126,600
Unitemized GrantFY2022$97,100
Unitemized GrantFY2021$61,611
Unitemized GrantFY2020$400
Unitemized GrantFY2020$200

By the numbers

The FY2024 990, line by line.

1The main four
Money inPt VIII
$252K
Ln 12
Gifts and grantsLn 1h$200K
Other incomeLn 4–11$37K
Investment incomeLn 3$15K
Money outPt IX
$274K
Ln 25
Programscol B$265K
Managementcol C$6K
Fundraisingcol D$2K
Owns and owesPt X
$556K
net assets · Ln 32
Cash and savingsLn 1–2$499K
Total assetsLn 16$558K
LiabilitiesLn 26$2K
PeoplePt VI, VII
14
listed · VII A
PaidVII A1
Voting boardVI 1a13
IndependentVI 1b13
2In more detail
Revenue in detailPt VIII
Gifts and grantsLn 1h$200K
Fundraising eventsLn 1c$0
Investment incomeLn 3$15K
Other incomeLn 4–11$37K
Total revenueLn 12$252K
Assets in detailPt X, end of year
CashLn 1$143K
SavingsLn 2$356K
Cash and savings togetherLn 1–2$499K
InvestmentsLn 11–13$59K
Total assetsLn 16$558K
LiabilitiesLn 26$2K
Net assetsLn 32$556K
OperationsPt I, VI
EmployeesI 50
VolunteersI 635
Fiscal year endsHeaderDecember
Conflict-of-interest policyVI 12aYes
Whistleblower policyVI 13No
Records policyVI 14No
3Year over year
Balance sheet, start vs end of yearPt X · col A, B
LineStart FY24End FY24
Cash and savingsLn 1–2$525K$499K
InvestmentsLn 11–13$55K$59K
Total assetsLn 16$580K$558K
LiabilitiesLn 26$2K$2K
Net assetsLn 32$578K$556K
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Grants to domestic individualsLn 2$247K$247K
Pay of current officers, directors and key staffLn 5$18K$16K$2K$0
Payroll taxesLn 10$2K$1K$155$0
Accounting feesLn 11c$225$0$225$0
Advertising and promotionLn 12$2K$26$26$2K
Office expensesLn 13$1K$0$1K$0
InsuranceLn 23$2K$0$2K$0
Other expenses (24a–d)Ln 24$2K$757$1K$356
Total functional expensesLn 25$274K$265K$6K$2K

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2024 Latest Viewing $252K$274K−$22K$556K 990 PDF
FY2023 $246K$153K$93K$578K 990 PDF
FY2022 $192K$116K$76K$485K 990 PDF
FY2021 $165K$67K$98K$414K 990 PDF
FY2020 $128K$38K$91K$317K 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 FY2024 990 (6 parts)
Part I · Summary $251,792 revenue, 12 lines filed
I-8 Contributions and grantsPrior year $165,710$199,917
I-9 Program service revenue$0
I-10 Investment incomePrior year $9,339$14,633
I-11 Other revenuePrior year $70,992$37,242
I-12 Total revenuePrior year $246,041$251,792
I-13 Grants and similar amounts paidPrior year $126,600$247,367
I-14 Benefits paid to members$0
I-15 Salaries and benefitsPrior year $19,047$19,047
I-16a Professional fundraising fees$0
I-17 Other expensesPrior year $7,262$7,112
I-18 Total expensesPrior year $152,909$273,526
I-19 Revenue less expensesPrior year $93,132−$21,734
Part VI · Governance 13 of 13 board members independent, 3 to look at
VI-1a Voting members of the governing body13
VI-1b Independent voting members13
VI-13 Written whistleblower policyNo
VI-14 Document retention and destruction policyNo
VI-15a Process for setting top official's payNo
VI-2 Family or business relationship among officers or directorsNo
VI-12a Written conflict of interest policyYes
Part VIII · Statement of revenue $251,792 across 6 lines filed
VIII-1c Fundraising events$0
VIII-1f All other contributions, gifts and grants$199,917
VIII-1h Total contributions, gifts and grants$199,917
VIII-3 Investment incomeUnrelated business $0 · Excluded from tax $14,633$14,633
VIII-8 Net income from fundraising eventsUnrelated business $0 · Excluded from tax $37,242$37,242
VIII-12 Total revenueRelated to mission $0 · Unrelated business $0 · Excluded from tax $51,875$251,792
Part IX · Statement of functional expenses $273,526 across 8 lines filed
IX-2 Grants to domestic individualsPrograms $247,367$247,367
IX-5 Pay of current officers, directors and key staffPrograms $15,750 · Management $1,750 · Fundraising $0$17,500
IX-10 Payroll taxesPrograms $1,392 · Management $155 · Fundraising $0$1,547
IX-11c Accounting feesPrograms $0 · Management $225 · Fundraising $0$225
IX-12 Advertising and promotionPrograms $26 · Management $26 · Fundraising $1,732$1,784
IX-13 Office expensesPrograms $0 · Management $1,355 · Fundraising $0$1,355
IX-23 InsurancePrograms $0 · Management $1,568 · Fundraising $0$1,568
IX-24 Other expenses (24a–d)Programs $757 · Management $1,067 · Fundraising $356$2,180
IX-25 Total functional expensesPrograms $265,292 · Management $6,146 · Fundraising $2,088$273,526
Part X · Balance sheet $557,889 assets, 10 lines filed
X-1 Cash, non-interest-bearingStart of year $19,043$142,677
X-2 Savings and temporary cash investmentsStart of year $505,704$356,070
X-12 Other securitiesStart of year $54,876$59,142
X-16 Total assetsStart of year $579,623$557,889
X-17 Accounts payable and accrued expensesStart of year $1,953$1,953
X-26 Total liabilitiesStart of year $1,953$1,953
X-27 Net assets without donor restrictionsStart of year $495,830$479,096
X-28 Net assets with donor restrictionsStart of year $81,840$76,840
X-32 Total net assets or fund balancesStart of year $577,670$555,936
X-33 Total liabilities and net assetsStart of year $579,623$557,889
Part XI · Reconciliation of net assets $555,936 net assets at year end
XI-1 Total revenue$251,792
XI-2 Total expenses$273,526
XI-3 Revenue less expenses−$21,734
XI-4 Net assets at start of year$577,670
XI-10 Net assets at end of year$555,936

Form 990 e-file (XML) FY2024 from the IRS · Classification, formation year and address from the IRS Business Master File

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