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Howard Rasmussen Charitable Trust Dated January 1 2023

Tax-deductible

Madelia, MN501(c)(3)Foundations & Grantmakers EIN 93-4718893Revenue $141K in FY2024

On file with the IRS8 W Main St, 56062-1438 · Madelia, MNTax-exempt since Oct 2024Private non-operating foundation

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The Trust was created and IT is intended that IT will be operated exclusively for the Charitable purposes as set forth in the internal revenue code. The Trust shall make grants, or otherwise accomplish its Charitable purposes, by distributing the net income of the Trust property to Charitable organizations in the madelia and lake crystal, minnesota geographic area.

501(c)(3) charity; gifts are tax-deductible.
$4K paid to officers and key staff.
Mission: Form 990 Part I, line 1 · Status: IRS Pub. 78 · Pay: Part VII

Before you give

FY2024 · Form 990-PFIndependent: 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-PF
Looks good: the latest return is for FY2024, 2 tax years back; within 2 tax years.
IRS e-file · Filing history
Surplus or deficit
1 of 2
filings with a surplus
Average surplus $4K a year · 3% of revenue · last 2 filings
Worth a look: a surplus in 1 of the last 2 filings.
990-PF Pt I · 2 filings
Pay to officers and key staff
$4K
to officers and key staff · 2% of spending
Looks good: pay to officers and key staff is 2% of spending; 15% or less.
990-PF Pt VIII
Cash reserves
15 mo
of spending, in cash
Looks good: 15.4 months of spending in cash; 3 or more.
Pt X · Ln 1–2 · Pt I · Ln 18
Liabilities
$0
0% of total assets
Looks good: liabilities are 0% of assets; 50% or less.
990-PF Pt II
Looks goodFineWorth a lookConcernNo data yetTap a box for the reason.
Revenue
$141K
+62% vs prior year
Spent
$187K
Net assets
$3.7M
By yearFY2023–FY2024
Revenue
$141K
FY2024▲ +62%
Tap a bar for its year
Revenue by fiscal year
FY2023$87K
FY2024$141K
Expenses
$187K
FY2024▲ +444%
Tap a bar for its year
Expenses by fiscal year
FY2023$34K
FY2024$187K
Net assets
$3.7M
FY2024▼ -1%
Tap a bar for its year
Net assets by fiscal year
FY2023$3.7M
FY2024$3.7M

From the FY2024 Form 990 · see the original

990 PDF Claim

Is it real?

Yes. Never revoked by the IRS. Latest filing on record: FY2024. IRS ruling in Oct 2024.

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

Where the money goes

What each dollar paid for.

Grants & contributions paid 61% · $113K Operating & administrative 39% · $73K

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

2 people listed on the 990-PF; $4K paid to officers and key staff.

Part VII, Section A · reportable compensation · most recent filed roster (FY2023); the FY2024 filing did not itemize Part VII
$2,500Pt VII · Sec A
$1,500Pt VII · Sec A
See Howard Rasmussen Charitable Trust Dated January 1 2023 executive salaries →

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Programs and updates

Distributes income to charities in Madelia and Lake Crystal, Minnesota.

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Provided by the organization

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Grants and how to apply

Who it funds, and how to ask.

Who They Fund

Part XV · grants paid · 12 grants · $113K · 2024–2024
Madelia Health FoundationMN · FY2024$30,000
Madelia HealthMN · FY2024$30,000
Lake Crystal Area Recreation Center Association INCMN · FY2024$25,000
Individual RecipientFY2024$6,000
Madelia Community Food ShelfMN · FY2024$6,000
Lake Crystal Baeball AssociationFY2024$5,000
Individual RecipientFY2024$5,000
Twin Valley CouncilFY2024$2,500
Watonwan County 4-H FederationFY2024$2,000
Little Lakers Child Care CenterMN · FY2024$1,000
Lions Club of MadeliaFY2024$750
Madelia Senior Transportation GroupFY2024$100

Grantmaking Profile

Patterns in foundation giving
Distinct granteesPart XV5
Average grantPart XV$9K
Median grantPart XV$5K
Largest grantPart XV$30K
Top cause focusNTEERecreation & Sports (8%)

By the numbers

The FY2024 990-PF, line by line.

Download 990
from philanthropy.org
1The main four
Money in
$141K
Other income$136K
Investment income$5K
Money out
$187K
Grants paid$113K
Running costs$73K
Owns and owes
$3.7M
net assets
Cash and savings$239K
Total assets$3.7M
Liabilities$0
People
2
listed
Paid2
2In more detail
Revenue in detail
Investment income$5K
Other income$136K
Total revenue$141K
Assets in detailEnd of year
Cash and savings together$239K
Total assets$3.7M
Liabilities$0
Net assets$3.7M
Operations
Employees0
Fiscal year endsDecember

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2024 Latest Viewing $141K$187K−$45K$3.7M 990 PDF
FY2023 $87K$34K$53K$3.7M 990 PDF

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Schedules filed Part IV

III · Programs R · Related orgs G · Fundraising L · Interested persons

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

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