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Believe Foundation FY2022 filing

Tax-deductible

Wayzata, MN501(c)(3)Human ServicesEIN 83-0545356Revenue $538K in FY2022

On file with the IRSthebelievefoundation.org415 Lake St E, 55391-1610 · Wayzata, MNTax-exempt since Jul 2019Publicly supported charity — 170(b)(1)(A)(vi)

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To support and help families begin the process of rebuilding after the death of their child.

501(c)(3) charity; gifts are tax-deductible.
86¢ of each $1 spent went to programs.
Mission: Form 990 Part I, line 1 · Status: IRS Pub. 78 · Programs: Part IX

Before you give

FY2022 · 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
FY2025
latest Form 990
Looks good: the latest return is for FY2025, 1 tax year back; within 2 tax years.
IRS e-file · Filing history
Surplus or deficit
5 of 6
filings with a surplus
Average deficit $33K a year · 8% of revenue · last 6 filings
Fine: a surplus in 5 of the last 6 filings.
Pt I · Ln 19 · 6 filings
Spent on programs
86%
of spending
Looks good: 86% of spending went to programs; 75% or more.
Pt IX · Ln 25 · col B
Cash reserves
10 mo
of spending, in cash
Looks good: 9.5 months of spending in cash; 3 or more.
Pt X · Ln 1–2 · Pt I · Ln 18
Named funders
2
named funders · $46K
Fine: 2 funders name it on their filings; under 3.
Funders’ Sch. I, 990-PF
Liabilities
$12K
2% of total assets
Looks good: liabilities are 2% of assets; 50% or less.
Pt X · Ln 26
Independent board members
8
of 8 voting members
Looks good: 8 of 8 voting members are independent, a majority.
Pt VI · Ln 1a–1b
Looks goodFineWorth a lookConcernNo data yetTap a box for the reason.
Revenue
$538K
+64% vs prior year
Spent
$353K
To programs
86%
Net assets
$539K
By yearFY2020–FY2025
Revenue
$538K
FY2022▲ +64%
Tap a bar for its year
Revenue by fiscal year
FY2020$337K
FY2021$328K
FY2022$538K
FY2023$619K
FY2024$533K
FY2025$55K
Expenses
$353K
FY2022▲ +66%
Tap a bar for its year
Expenses by fiscal year
FY2020$147K
FY2021$212K
FY2022$353K
FY2023$382K
FY2024$385K
FY2025$1.1M
Net assets
$539K
FY2022▲ +27%
Tap a bar for its year
Net assets by fiscal year
FY2020$350K
FY2021$423K
FY2022$539K
FY2023$832K
FY2024$1.1M
FY2025$11K

From the FY2022 Form 990 · see the original

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You’re viewing the FY2022 filing — not the latest on file. See the latest (FY2025) →

Is it real?

Yes. Never revoked by the IRS. Latest filing on record: FY2025. IRS ruling in Jul 2019.

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

Where the money goes

86 cents of each dollar spent went to programs.

Program services 86% · $303K Management & general 14% · $50K

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

9 people listed on the 990.

Part VII, Section A · reportable compensation
$0Pt VII · Sec A
$0Pt VII · Sec A
Kelly McDyre
Director
$0Pt VII · Sec A
Matt Gassen
Director
$0Pt VII · Sec A
$0Pt VII · Sec A
Greg Soule
Director
$0Pt VII · Sec A
Kurt Vickman
Director
$0Pt VII · Sec A
Kevin Wright
Director
$0Pt VII · Sec A
See Believe 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 2Yes
  • Top official's pay set by an independent reviewPt VI · Ln 15aNo

Programs and updates

Helps families rebuild after the death of their child.

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Provided by the organization

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1 program · $303K · in their own filed words · FY2022
01

The believe foundation helps grieving families in minnesota facing hardship after the death of their child by providing immediate and practical financial assistance and partnering with other organizations to offer ongoing emotional support and healing.

$303Kprogram 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 · FY2023
Natl Christian Charitable Fdn INCFY2023$25K
Fidelity Investments Charitable Gift FundFY2023$21K
Total grants receivedfrom 2 funders$46K
Grants paid · 7 grants · $2.4M · 2020–2025
Child Loss FoundationMN · FY2025$999,853
Unitemized GrantFY2025$99,905
Unitemized GrantFY2024$344,885
Unitemized GrantFY2023$340,385
Unitemized GrantFY2022$303,114
Unitemized GrantFY2021$177,938
Unitemized GrantFY2020$87,750

By the numbers

The FY2022 990, line by line.

Download 990
from philanthropy.org
1The main four
Money inPt VIII
$538K
Ln 12
Gifts and grantsLn 1h$538K
Investment incomeLn 3$48
Money outPt IX
$353K
Ln 25
Programscol B$303K
Managementcol C$50K
Owns and owesPt X
$539K
net assets · Ln 32
Cash and savingsLn 1–2$280K
Total assetsLn 16$551K
LiabilitiesLn 26$12K
PeoplePt VI, VII
9
listed · VII A
PaidVII A0
Voting boardVI 1a8
IndependentVI 1b8
2In more detail
Revenue in detailPt VIII
Gifts and grantsLn 1h$538K
Fundraising eventsLn 1c$7K
Investment incomeLn 3$48
Total revenueLn 12$538K
Assets in detailPt X, end of year
CashLn 1$40K
SavingsLn 2$240K
Cash and savings togetherLn 1–2$280K
InvestmentsLn 11–13$255K
Land, buildings, equipmentLn 10c$16K
Total assetsLn 16$551K
LiabilitiesLn 26$12K
Net assetsLn 32$539K
OperationsPt I, VI
EmployeesI 50
VolunteersI 67
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 FY22End FY22
Cash and savingsLn 1–2$106K$280K
InvestmentsLn 11–13$324K$255K
Land, buildings, equipmentLn 10c$0$16K
Total assetsLn 16$432K$551K
LiabilitiesLn 26$9K$12K
Net assetsLn 32$423K$539K
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Grants to domestic individualsLn 2$303K$303K
Accounting feesLn 11c$2K$2K
Advertising and promotionLn 12$34K$34K
Office expensesLn 13$344$344
Information technologyLn 14$6K$6K
InsuranceLn 23$3K$3K
Other expenses (24a–d)Ln 24$5K$5K
Total functional expensesLn 25$353K$303K$50K$0

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2025 Latest $55K$1.1M−$1.1M$11K 990 PDF
FY2024 $533K$385K$148K$1.1M 990 PDF
FY2023 $619K$382K$237K$832K 990 PDF
FY2022 Viewing $538K$353K$185K$539K 990 PDF
FY2021 $328K$212K$116K$423K 990 PDF
FY2020 $337K$147K$190K$350K 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 FY2022 990 (6 parts)
Part I · Summary $537,794 revenue, 12 lines filed
I-8 Contributions and grantsPrior year $327,896$537,746
I-9 Program service revenuePrior year $0$0
I-10 Investment incomePrior year $0$48
I-11 Other revenuePrior year $0$0
I-12 Total revenuePrior year $327,896$537,794
I-13 Grants and similar amounts paidPrior year $177,938$303,114
I-14 Benefits paid to membersPrior year $0$0
I-15 Salaries and benefitsPrior year $0$0
I-16a Professional fundraising feesPrior year $0$0
I-17 Other expensesPrior year $34,271$50,135
I-18 Total expensesPrior year $212,209$353,249
I-19 Revenue less expensesPrior year $115,687$184,545
Part VI · Governance 8 of 8 board members independent, 2 to look at
VI-1a Voting members of the governing body8
VI-1b Independent voting members8
VI-2 Family or business relationship among officers or directorsYes
VI-15a Process for setting top official's payNo
VI-12a Written conflict of interest policyYes
VI-13 Written whistleblower policyYes
VI-14 Document retention and destruction policyYes
Part VIII · Statement of revenue $537,794 across 6 lines filed
VIII-1c Fundraising events$6,814
VIII-1f All other contributions, gifts and grants$530,932
VIII-1h Total contributions, gifts and grants$537,746
VIII-3 Investment incomeExcluded from tax $48$48
VIII-8 Net income from fundraising events$0
VIII-12 Total revenueRelated to mission $0 · Unrelated business $0 · Excluded from tax $48$537,794
Part IX · Statement of functional expenses $353,249 across 7 lines filed
IX-2 Grants to domestic individualsPrograms $303,114$303,114
IX-11c Accounting feesManagement $2,025$2,025
IX-12 Advertising and promotionManagement $34,027$34,027
IX-13 Office expensesManagement $344$344
IX-14 Information technologyManagement $6,167$6,167
IX-23 InsuranceManagement $2,596$2,596
IX-24 Other expenses (24a–d)Management $4,976$4,976
IX-25 Total functional expensesPrograms $303,114 · Management $50,135 · Fundraising $0$353,249
Part X · Balance sheet $550,685 assets, 10 lines filed
X-1 Cash, non-interest-bearingStart of year $106,273$39,583
X-2 Savings and temporary cash investments$240,000
X-4 Accounts receivableStart of year $2,186$653
X-10c Land, buildings and equipment, netStart of year $0$15,800
X-11 Publicly traded securitiesStart of year $323,788$254,649
X-16 Total assetsStart of year $432,247$550,685
X-17 Accounts payable and accrued expensesStart of year $8,936$11,969
X-26 Total liabilitiesStart of year $8,936$11,969
X-32 Total net assets or fund balancesStart of year $423,311$538,716
X-33 Total liabilities and net assetsStart of year $432,247$550,685
Part XI · Reconciliation of net assets $538,716 net assets at year end
XI-1 Total revenue$537,794
XI-2 Total expenses$353,249
XI-3 Revenue less expenses$184,545
XI-4 Net assets at start of year$423,311
XI-5 Net unrealized gains (losses) on investments−$69,139
XI-8 Prior period adjustments−$1
XI-9 Other changes in net assets$0
XI-10 Net assets at end of year$538,716

Form 990 e-file (XML) FY2022 from the IRS · Classification, formation year and address from the IRS Business Master File

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