Overview
What is Fredrikson & Byron Foundation?
The Fredrikson & Byron Foundation is a charitable organization, based in Minneapolis, Minnesota, that supports various other nonprofit organizations under Section 501(c)3. Committed to bettering the communities where they reside and work, the foundation funds 111 separate entities that align with their mission. Their areas of focus include legal services, community development, crime alleviation, and cultural enrichment, particularly through arts and cultural organizations. The foundation also invests in programs that enhance human capital and supports law schools, demonstrating their dedication to making a tangible impact in their local communities.
What are the reviews and ratings of this charity?
Charity Navigator Rating: Needs Improvement (Two-Star out of Four Star rating, 71% overall score)
The Fredrikson & Byron Foundation has received a two-star rating from Charity Navigator, indicating a need for improvement in certain areas of accountability and finance. The organization demonstrates strong governance with 100% independent board members and effective audit oversight. It also achieves a high program expense ratio of 99.80%, suggesting that nearly all funds are directed toward its programs.
However, there are significant gaps in its policies, including the absence of a whistleblower policy and a document retention policy, which could impact the foundation’s operational transparency. Additionally, the nonprofit has not posted its tax form on its website, which is vital for public accountability. The liabilities to assets ratio is notably high at 117.85%, raising concerns about financial stability.
Overall, while the Fredrikson & Byron Foundation shows promising programmatic effectiveness, it faces challenges in transparency and financial management that need to be addressed to enhance its rating and public trust.
This AI summary has been generated from information found on Charity Navigator.
Is Fredrikson & Byron Foundation legitimate?
Fredrikson & Byron Foundation is a legitimate nonprofit organization registered as a 501(c)(3) entity. Fredrikson & Byron Foundation submitted a form 990, which is a tax form used by tax-exempt organizations in the U.S., indicating its operational transparency and adherence to regulatory requirements. Donations to this organization are tax deductible.
Heare are some key statistics you may want to consider:
Executive Compensation: $0
Professional Fundraising Fees: $0
Other Salaries and Wages: $0
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What is the mission statement of Fredrikson & Byron Foundation?
The Fredrikson & Byron Foundation is dedicated to enhancing the communities where its associates reside and work. Established to support the philanthropic endeavors and volunteer work of its attorneys, the foundation focuses its grant-making efforts on areas where it believes it can significantly impact change. These areas include providing financial assistance to law schools, investing in programs that develop the community's human capital, working towards mitigating the causes and effects of crime, and striving to improve the delivery and access to legal services. Moreover, the foundation also contributes to arts and cultural organizations that contribute to improving the quality of life in the communities where they have offices.
What is the revenue of Fredrikson & Byron Foundation?
Fredrikson & Byron Foundation's revenue in 2024 was $812,724.
Who are the executives of Fredrikson & Byron Foundation and what are their salaries?
There 7 volunteers at Fredrikson & Byron Foundation.
Here are 5 key members and their salaries:
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- Other: $0
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- Other: $0
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- Other: $0
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- Other: $0
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- Other: $0
Where can I find the form 990 for Fredrikson & Byron Foundation?
Fredrikson & Byron Foundation's most recent form 990 was submitted in 2024 and can be accessed here.
Mission Statement of Fredrikson & Byron Foundation
The Fredrikson & Byron Foundation is dedicated to enhancing the communities where its attorneys reside and work. Established to support the philanthropic endeavors and volunteer efforts of its legal professionals, the foundation focuses its grant-making in areas where it believes it can make a significant impact. The foundation provides financial assistance to law schools, invests in programs that foster community human capital development, works to alleviate the causes and consequences of crime, and strives to enhance the delivery and accessibility of legal services. In addition to these areas, the foundation also donates to arts and cultural organizations that contribute to the improvement of life quality in the communities where it has offices.
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Impact
October, 2024
The Fredrikson & Byron Foundation is dedicated to enhancing the quality of life in the communities it serves through a multifaceted approach to philanthropy. By granting support to law schools and investing in programs that develop human capital, the foundation plays a crucial role in empowering individuals and strengthening the community's educational framework.
It also addresses social issues by working to alleviate the causes and effects of crime, promoting safety and justice. Additionally, the foundation strives to improve access to legal services, ensuring that members of the community can obtain the assistance they need. Its commitment to the arts and cultural organizations further enriches community life, fostering creativity and cultural appreciation.
With grants made to 111 separate 501(c)(3) organizations, the Fredrikson & Byron Foundation’s impact resonates through various sectors, effectively contributing to a stronger, more vibrant community in Minneapolis and beyond.
This information is meant to be a general summary of Fredrikson & Byron Foundation. Please take the time to review official sources before making any decisions based upon the content provided here.
Financials
This financial information is from Propublica.
Other financial information:
This information is from the most recently submitted tax form from this organization, which was in 2024.
- Gross Receipts: $812,724
Assets and Liabilities:
- Total Assets: $173,931
- Total Liabilities: $0
- Net Assets: $173,931
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Organization Details
Founding Year
1974
Principal Officer
John S Parzych
NTEE Category
Code: T70Z - Philanthropy
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