Overview
What is Philanthrofund Foundation Inc?
Philanthrofund Foundation Inc, located in St. Louis Park, Minnesota, is a significant resource and community builder for LGBTQ+ individuals and their allies. With a team of five dedicated employees, the foundation offers scholarships to 52 LGBTQ individuals pursuing post-secondary education and training. Additionally, it supports 17 LGBTQ+ led and serving non-profit organizations operating in rural communities across the Upper Midwest. The foundation also aids 10 LGBTQ+ BIPOC small businesses, helping them grow and strengthen their leadership and businesses by providing educational resources. During the COVID-19 pandemic, Philanthrofund Foundation Inc granted funds to various LGBTQ non-profits in the Upper Midwest experiencing its impact. Furthermore, the foundation sponsors events to bring LGBTQ individuals together across the region. Overall, Philanthrofund Foundation Inc aims to build equity with LGBTQ+ communities by providing grants, developing leaders, and inspiring giving.
Official website here: www.pfundfoundation.org
What are the reviews and ratings of this charity?
Charity Navigator Rating: 98% (Four-Star out of Four Stars)
Philanthrofund Foundation Inc has achieved an impressive 98% rating, signifying a high level of accountability and financial health. The organization scored 100% in its Accountability & Finance category, demonstrating strong governance practices including an entirely independent board. Their financial oversight is robust, with no reported material diversion of assets and a favorable liabilities to assets ratio of 1.24%, indicating sound financial management.
In addition to its financial strengths, the foundation excels in its Culture & Community efforts, receiving an 85% score in this area. The organization actively collects and utilizes feedback from its constituents, earning perfect scores in feedback collection and usage. This demonstrates a commitment to transparency and responsiveness to the needs of those they serve.
However, while the foundation performs well overall, its Equity Strategies Score of 77 out of 100 suggests that there may be room for improvement in addressing equity-related initiatives. Overall, Philanthrofund Foundation Inc stands out for its strong governance and community engagement practices, making it a reputable choice for potential donors.
This AI summary has been generated from information found on Charity Navigator.
Is Philanthrofund Foundation Inc legitimate?
Philanthrofund Foundation Inc is a legitimate nonprofit organization registered as a 501(c)(3) entity. Philanthrofund Foundation Inc 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: $115,422
Professional Fundraising Fees: $37,850
Other Salaries and Wages: $249,983
For more financial information, click here
Official website here: www.pfundfoundation.org
What is the mission statement of Philanthrofund Foundation Inc?
The Philanthrofund Foundation Inc, serving the LGBTQ+ community, strives to build equity by offering grants and scholarships, fostering leadership development, and encouraging philanthropy. Their mission is to support LGBTQ+ individuals and organizations across the Upper Midwest, providing financial aid for education, funding non-profit organizations, and backing small businesses. In times of crisis, such as the COVID-19 pandemic, they also extend aid to affected LGBTQ+ non-profits and sponsor events to bring LGBTQ+ individuals together.
Official website here: www.pfundfoundation.org
Who is the CEO of Philanthrofund Foundation Inc?
Alissa Light is the President of Philanthrofund Foundation Inc.
Official website here: www.pfundfoundation.org
What is the revenue of Philanthrofund Foundation Inc?
Philanthrofund Foundation Inc's revenue in 2023 was $913,882.
Official website here: www.pfundfoundation.org
Who are the executives of Philanthrofund Foundation Inc and what are their salaries?
The average compensation at Philanthrofund Foundation Inc during 2023 was $73,081. There are 5 employees and 100 volunteers at Philanthrofund Foundation Inc.
Here are 13 key members and their salaries:
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $105,643
- Related: $0
- Other: $5,522
Official website here: www.pfundfoundation.org
Where can I find the form 990 for Philanthrofund Foundation Inc?
Philanthrofund Foundation Inc's most recent form 990 was submitted in 2023 and can be accessed here.
Official website here: www.pfundfoundation.org
Learn more at the official website: www.pfundfoundation.org
Mission Statement of Philanthrofund Foundation Inc
Philanthrofund Foundation Inc, a vital resource for lesbian, gay, bisexual, transgender, queer, and allied communities, strives to establish equity in these communities across the Upper Midwest. The foundation accomplishes this mission by providing grants, scholarships, and fostering giving, as well as nurturing leaders within these communities. By offering financial aid for post-secondary education and training for 52 LGBTQ individuals, Philanthrofund Foundation Inc empowers the next generation. Furthermore, the foundation awards grants and scholarships to LGBTQ+ led and serving non-profit organizations operating in rural communities across the Upper Midwest, thereby supporting grassroots initiatives.
Additionally, Philanthrofund Foundation Inc invests in LGBTQ+ BIPOC small businesses, offering resources and assistance to strengthen their leadership and businesses, thereby contributing to the growth and prosperity of these enterprises within the community. During the COVID-19 pandemic, the foundation extended support to LGBTQ non-profits facing hardships, providing essential grants to help them navigate through challenging times. Furthermore, Philanthrofund Foundation Inc sponsored events for LGBTQ folks across the Upper Midwest, promoting a sense of unity and community within the region. By engaging in these various endeavors, Philanthrofund Foundation Inc is committed to building a more equitable and inclusive future for LGBTQ+ communities in the Upper Midwest.
Shop smarter and support your favorite cause with the Give Freely browser extension. Save money with coupons and donate to charity with a single click. Download now!
Impact
October, 2024
Philanthrofund Foundation Inc makes a significant impact by serving as a crucial resource and community builder for LGBTQ+ and allied individuals in the Upper Midwest. The foundation supports and empowers marginalized communities through various initiatives, including grants, scholarships, and educational resources.
In recent efforts, the foundation awarded scholarships to 52 LGBTQ+ individuals, facilitating access to post-secondary education and specialized training. This financial support helps foster future leaders within the community. Additionally, 17 nonprofit organizations focused on LGBTQ+ issues in rural areas received funding to enhance their programs and outreach.
Philanthrofund actively strengthens LGBTQ+ BIPOC small businesses, providing grants to 10 such enterprises to bolster their development and leadership. The foundation also stepped up during the COVID-19 pandemic, offering grants to LGBTQ+ nonprofits affected by the crisis, ensuring these essential services could continue operating.
By sponsoring events for over 10 nonprofits, Philanthrofund fosters connectivity and collaboration among LGBTQ+ individuals and organizations throughout the region. Overall, the foundation's multifaceted approach cultivates equity, community resilience, and empowerment within the LGBTQ+ population in the Upper Midwest.
This information is meant to be a general summary of Philanthrofund Foundation Inc. 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 2023.
- Investment Income: $19,699
- Program Service Revenue: $6,798
- Gross Receipts: $1,004,320
Assets and Liabilities:
- Total Assets: $1,177,072
- Total Liabilities: $14,674
- Net Assets: $1,162,398
Want to help this charity, for free? You can click here to learn more about Give Freely
Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
FEES
Revenue
$6,798
Organization Details
Founding Year
1987
Phone
(612) 870-1806Principal Officer
Alissa Light
Main Address
5775 WAYZATA BLVD 700, ST LOUIS PARK, MN, 55416
Website
www.pfundfoundation.orgNTEE Category
Code: R110 - Civil rights
If you are a representative of Philanthrofund Foundation Inc and wish to learn more about how Give Freely can help you raise funds, please click here: https://givefreely.com/nonprofits/. Our services are offered at no cost to your organization.