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Golden Bear Foundation FY2021 filing

Tax-deductible

Eveleth, MN501(c)(3)EducationEIN 83-2598049Revenue $278K in FY2021

On file with the IRSfacebook.com/eggoldenbearfoundationPo Box 319, 55734-0319 · Eveleth, MNTax-exempt since Dec 2018Publicly supported — 509(a)(2)

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The organization provides scholarships, and support local academic and athletic programs

501(c)(3) charity; gifts are tax-deductible.
100¢ of each $1 spent went to programs.
Mission: Form 990 Part I, line 1 · Status: IRS Pub. 78 · Programs: Part IX

Before you give

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
3 of 4
filings with a surplus
Average surplus $6K a year · 3% of revenue · last 4 filings
Fine: a surplus in 3 of the last 4 filings.
Pt I · Ln 19 · 4 filings
Spent on programs
100%
of spending
Looks good: 100% of spending went to programs; 75% or more.
Pt IX · Ln 25 · col B
Cash reserves
6 mo
of spending, in cash
Looks good: 5.9 months of spending in cash; 3 or more.
Pt X · Ln 1–2 · Pt I · Ln 18
Named funders
3
named funders · $30K
Looks good: 3 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
4
of 4 voting members
Looks good: 4 of 4 voting members are independent, a majority.
Pt VI · Ln 1a–1b
Looks goodFineWorth a lookConcernNo data yetTap a box for the reason.
Revenue
$278K
Spent
$255K
To programs
100%
Net assets
$125K
By yearFY2021–FY2024
Revenue
$278K
FY2021
Tap a bar for its year
Revenue by fiscal year
FY2021$278K
FY2022$232K
FY2023$208K
FY2024$146K
Expenses
$255K
FY2021
Tap a bar for its year
Expenses by fiscal year
FY2021$255K
FY2022$300K
FY2023$193K
FY2024$92K
Net assets
$125K
FY2021
Tap a bar for its year
Net assets by fiscal year
FY2021$125K
FY2022$58K
FY2023$74K
FY2024$128K

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 Dec 2018.

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

Where the money goes

100 cents of each dollar spent went to programs.

Program services 100% · $254K Management & general 0% · $188 Fundraising 0% · $188

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

4 people listed on the 990.

Part VII, Section A · reportable compensation
$0Pt VII · Sec A
Joanne Scott
Director
$0Pt VII · Sec A
Ben Delich
Director
$0Pt VII · Sec A
Jon Hoel
Director
$0Pt VII · Sec A
See Golden Bear 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 15aNo

Programs and updates

Gives scholarships and supports local academic and athletic programs.

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Provided by the organization

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1 program · $254K · in their own filed words · FY2021
01

The organization provides scholarships, and supports local academic and athletic programs

$254Kprogram 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
Fidelity Investments Charitable Gift FundFY2024$10K
Mightycause Charitable FoundationFY2024$10K
Morgan Stanley Global Impact Funding Trust INCFY2024$10K
Total grants receivedfrom 3 funders$30K
See all 3 funders →
Grants paid · 7 grants · $816K · 2021–2024
Duluth Superior Area Community Foundation INCMN · FY2024$50,000
Rock Ridge Public School Isd 2909FY2024$27,488
Curl Mesabi FoundationMN · FY2024$10,000
Rock Ridge Public School Isd 2909FY2023$188,483
Rock Ridge Public School Isd 2909FY2022$188,893
Duluth Superior Area Community Foundation INCMN · FY2022$100,000
Rock Ridge Public School Isd 2909FY2021$251,000

By the numbers

The FY2021 990, line by line.

Download 990
from philanthropy.org
1The main four
Money inPt VIII
$278K
Ln 12
Gifts and grantsLn 1h$275K
Other incomeLn 4–11$3K
Money outPt IX
$255K
Ln 25
Programscol B$254K
Managementcol C$188
Fundraisingcol D$188
Owns and owesPt X
$125K
net assets · Ln 32
Cash and savingsLn 1–2$125K
Total assetsLn 16$125K
LiabilitiesLn 26$0
PeoplePt VI, VII
4
listed · VII A
PaidVII A0
Voting boardVI 1a4
IndependentVI 1b4
2In more detail
Revenue in detailPt VIII
Gifts and grantsLn 1h$275K
Other incomeLn 4–11$3K
Total revenueLn 12$278K
Assets in detailPt X, end of year
CashLn 1$125K
Cash and savings togetherLn 1–2$125K
Total assetsLn 16$125K
LiabilitiesLn 26$0
Net assetsLn 32$125K
OperationsPt I, VI
EmployeesI 50
VolunteersI 610
Fiscal year endsHeaderDecember
Conflict-of-interest policyVI 12aNo
Whistleblower policyVI 13No
Records policyVI 14No
3Year over year
Balance sheet, start vs end of yearPt X · col A, B
LineStart FY21End FY21
Cash and savingsLn 1–2$102K$125K
Total assetsLn 16$102K$125K
LiabilitiesLn 26$0$0
Net assetsLn 32$102K$125K
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Grants to domestic organizationsLn 1$251K$251K
Other fees for servicesLn 11g$561$505$28$28
Advertising and promotionLn 12$671$603$34$34
Office expensesLn 13$874$786$44$44
Other expenses (24a–d)Ln 24$2K$1K$82$82
Total functional expensesLn 25$255K$254K$188$188

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2024 Latest $146K$92K$54K$128K 990 PDF
FY2023 $208K$193K$16K$74K 990 PDF
FY2022 $232K$300K−$67K$58K 990 PDF
FY2021 Viewing $278K$255K$23K$125K 990 PDF

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Schedules filed Part IV

III · Programs R · Related orgs G · Fundraising L · Interested persons I · Grants A · Public support O · Explanations
See the full FY2021 990 (6 parts)
Part I · Summary $278,019 revenue, 12 lines filed
I-8 Contributions and grantsPrior year $0$274,535
I-9 Program service revenuePrior year $0$0
I-10 Investment incomePrior year $0$0
I-11 Other revenuePrior year $0$3,484
I-12 Total revenuePrior year $0$278,019
I-13 Grants and similar amounts paidPrior year $0$251,000
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 $0$3,751
I-18 Total expensesPrior year $0$254,751
I-19 Revenue less expensesPrior year $0$23,268
Part VI · Governance 4 of 4 board members independent, 4 to look at
VI-1a Voting members of the governing body4
VI-1b Independent voting members4
VI-12a Written conflict of interest policyNo
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
Part VIII · Statement of revenue $278,019 across 4 lines filed
VIII-1f All other contributions, gifts and grants$274,535
VIII-1h Total contributions, gifts and grants$274,535
VIII-8 Net income from fundraising eventsUnrelated business $3,484$3,484
VIII-12 Total revenueRelated to mission $0 · Unrelated business $3,484 · Excluded from tax $0$278,019
Part IX · Statement of functional expenses $254,751 across 5 lines filed
IX-1 Grants to domestic organizationsPrograms $251,000$251,000
IX-11g Other fees for servicesPrograms $505 · Management $28 · Fundraising $28$561
IX-12 Advertising and promotionPrograms $603 · Management $34 · Fundraising $34$671
IX-13 Office expensesPrograms $786 · Management $44 · Fundraising $44$874
IX-24 Other expenses (24a–d)Programs $1,481 · Management $82 · Fundraising $82$1,645
IX-25 Total functional expensesPrograms $254,375 · Management $188 · Fundraising $188$254,751
Part X · Balance sheet $125,463 assets, 5 lines filed
X-1 Cash, non-interest-bearingStart of year $102,195$125,463
X-16 Total assetsStart of year $102,195$125,463
X-26 Total liabilitiesStart of year $0$0
X-32 Total net assets or fund balancesStart of year $102,195$125,463
X-33 Total liabilities and net assetsStart of year $102,195$125,463
Part XI · Reconciliation of net assets $125,463 net assets at year end
XI-1 Total revenue$278,019
XI-2 Total expenses$254,751
XI-3 Revenue less expenses$23,268
XI-4 Net assets at start of year$102,195
XI-9 Other changes in net assets$0
XI-10 Net assets at end of year$125,463

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

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