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Golden Bear Foundation FY2022 filing

Tax-deductible

Eveleth, MN501(c)(3)EducationEIN 83-2598049Revenue $232K in FY2022

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

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
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
2 mo
of spending, in cash
Fine: 2.3 months of spending in cash; 1 to 3.
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
$232K
-16% vs prior year
Spent
$300K
To programs
100%
Net assets
$58K
By yearFY2021–FY2024
Revenue
$232K
FY2022▼ -16%
Tap a bar for its year
Revenue by fiscal year
FY2021$278K
FY2022$232K
FY2023$208K
FY2024$146K
Expenses
$300K
FY2022▲ +18%
Tap a bar for its year
Expenses by fiscal year
FY2021$255K
FY2022$300K
FY2023$193K
FY2024$92K
Net assets
$58K
FY2022▼ -54%
Tap a bar for its year
Net assets by fiscal year
FY2021$125K
FY2022$58K
FY2023$74K
FY2024$128K

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 (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% · $299K Management & general 0% · $484 Fundraising 0% · $484

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

11 people listed on the 990.

Part VII, Section A · reportable compensation
$0Pt VII · Sec A
$0Pt VII · Sec A
Ben Delich
Director
$0Pt VII · Sec A
Jon Hoel
Director
$0Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A
Joanne Scott
Director
$0Pt VII · Sec A
$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 · $299K · in their own filed words · FY2022
01

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

$299Kprogram 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 FY2022 990, line by line.

Download 990
from philanthropy.org
1The main four
Money inPt VIII
$232K
Ln 12
Gifts and grantsLn 1h$192K
Other incomeLn 4–11$41K
Money outPt IX
$300K
Ln 25
Programscol B$299K
Managementcol C$484
Fundraisingcol D$484
Owns and owesPt X
$58K
net assets · Ln 32
Cash and savingsLn 1–2$58K
Total assetsLn 16$58K
LiabilitiesLn 26$0
PeoplePt VI, VII
11
listed · VII A
PaidVII A0
Voting boardVI 1a4
IndependentVI 1b4
2In more detail
Revenue in detailPt VIII
Gifts and grantsLn 1h$192K
Other incomeLn 4–11$41K
Total revenueLn 12$232K
Assets in detailPt X, end of year
CashLn 1$58K
Cash and savings togetherLn 1–2$58K
Total assetsLn 16$58K
LiabilitiesLn 26$0
Net assetsLn 32$58K
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 FY22End FY22
Cash and savingsLn 1–2$125K$58K
Total assetsLn 16$125K$58K
LiabilitiesLn 26$0$0
Net assetsLn 32$125K$58K
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Grants to domestic organizationsLn 1$289K$289K
Grants to domestic individualsLn 2$1K$1K
Management feesLn 11a$596$536$30$30
Accounting feesLn 11c$737$663$37$37
Other fees for servicesLn 11g$5K$5K$255$255
Advertising and promotionLn 12$910$818$46$46
Office expensesLn 13$1K$1K$56$56
InsuranceLn 23$1K$1K$60$60
Total functional expensesLn 25$300K$299K$484$484

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2024 Latest $146K$92K$54K$128K 990 PDF
FY2023 $208K$193K$16K$74K 990 PDF
FY2022 Viewing $232K$300K−$67K$58K 990 PDF
FY2021 $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 FY2022 990 (6 parts)
Part I · Summary $232,330 revenue, 12 lines filed
I-8 Contributions and grantsPrior year $274,535$191,572
I-9 Program service revenuePrior year $0$0
I-10 Investment incomePrior year $0$0
I-11 Other revenuePrior year $3,484$40,758
I-12 Total revenuePrior year $278,019$232,330
I-13 Grants and similar amounts paidPrior year $251,000$289,893
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 $3,751$9,666
I-18 Total expensesPrior year $254,751$299,559
I-19 Revenue less expensesPrior year $23,268−$67,229
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 $232,330 across 4 lines filed
VIII-1f All other contributions, gifts and grants$191,572
VIII-1h Total contributions, gifts and grants$191,572
VIII-8 Net income from fundraising eventsExcluded from tax $40,758$40,758
VIII-12 Total revenueRelated to mission $0 · Unrelated business $0 · Excluded from tax $40,758$232,330
Part IX · Statement of functional expenses $299,559 across 8 lines filed
IX-1 Grants to domestic organizationsPrograms $288,893$288,893
IX-2 Grants to domestic individualsPrograms $1,000$1,000
IX-11a Management feesPrograms $536 · Management $30 · Fundraising $30$596
IX-11c Accounting feesPrograms $663 · Management $37 · Fundraising $37$737
IX-11g Other fees for servicesPrograms $4,592 · Management $255 · Fundraising $255$5,102
IX-12 Advertising and promotionPrograms $818 · Management $46 · Fundraising $46$910
IX-13 Office expensesPrograms $1,014 · Management $56 · Fundraising $56$1,126
IX-23 InsurancePrograms $1,075 · Management $60 · Fundraising $60$1,195
IX-25 Total functional expensesPrograms $298,591 · Management $484 · Fundraising $484$299,559
Part X · Balance sheet $58,234 assets, 5 lines filed
X-1 Cash, non-interest-bearingStart of year $125,463$58,234
X-16 Total assetsStart of year $125,463$58,234
X-26 Total liabilitiesStart of year $0$0
X-32 Total net assets or fund balancesStart of year $125,463$58,234
X-33 Total liabilities and net assetsStart of year $125,463$58,234
Part XI · Reconciliation of net assets $58,234 net assets at year end
XI-1 Total revenue$232,330
XI-2 Total expenses$299,559
XI-3 Revenue less expenses−$67,229
XI-4 Net assets at start of year$125,463
XI-9 Other changes in net assets$0
XI-10 Net assets at end of year$58,234

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

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