Overview
What is 3M Open Fund?
The 3M Open Fund is a nonprofit organization based in Blaine, Minnesota, represented by the address 11074 Radisson Road Northeast, with a team of 12 dedicated individuals. Their primary mission is to organise and host an annual PGA Tour-sanctioned professional golf tournament for charitable purposes. The tournament's net proceeds are donated to the community to positively impact local lives. The 3M Open Fund was established with the vision of creating a significant social contribution through this annual golf event.
Official website here: www.3mopen.com/3m-open-fund
What are the reviews and ratings of this charity?
Charity Navigator Rating 77% - Three-Star out of Four Star Rating
The 3M Open Fund has received a Three-Star rating from Charity Navigator, indicating a solid level of accountability and financial health. This rating is based entirely on its performance in the Accountability & Finance beacon, suggesting that the organization maintains good governance practices and transparency.
The organization excels in areas such as having a fully independent board and a strong financial oversight committee. It also demonstrates responsible financial practices with a high program expense ratio of 82.72%, indicating that most of its funds are directed towards its mission rather than administrative costs. Additionally, it adheres to several key policies, such as having a conflict of interest policy and documenting board meeting minutes.
However, there are limitations noted, including missing whistleblower and document retention policies, which could affect its overall governance. Furthermore, the liabilities to assets ratio is a concern at 285.45%, suggesting potential financial risk. Overall, while the 3M Open Fund shows many strengths, addressing these weaknesses could enhance its operational effectiveness.
This AI summary has been generated from information found on Charity Navigator.
What do the Facebook reviews say about 3M Open Fund?
96% of 29 reviewers on Facebook recommend the 3M Open Fund. Here is a summary of their reviews:
Many supporters appreciate the unique spectator experience offered by the event, highlighting the stadium-like built course that allows for an inclusive atmosphere. Reviewers note that this design ensures that everyone has an opportunity to enjoy the action without needing to compete for the best viewing spots.
Overall, attendees feel that the 3M Open Fund successfully delivers an enjoyable and engaging experience for all participants, making it a worthwhile event to attend. The positive sentiment reflects strong community support and a commitment to creating a memorable experience for both spectators and supporters alike.
This AI summary has been generated from reviews found on Facebook.
Is 3M Open Fund legitimate?
3M Open Fund is a legitimate nonprofit organization registered as a 501(c)(3) entity. 3M Open Fund 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:
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For more financial information, click here
Official website here: www.3mopen.com/3m-open-fund
What is the mission statement of 3M Open Fund?
The 3M Open Fund is a non-profit organization established to organize an annual professional golf tournament as part of the PGA Tour. Their mission is to make a positive impact on the community by donating the proceeds from the event. The golf tournament, held in July, serves as a means to generate funds for charitable causes. The non-profit organization's mission is focused on contributing to the community through the golf tournament and the resulting charitable donations.
Official website here: www.3mopen.com/3m-open-fund
Who is the CEO of 3M Open Fund?
Kady Stoll is the Treasurer of 3M Open Fund.
Official website here: www.3mopen.com/3m-open-fund
What is the revenue of 3M Open Fund?
3M Open Fund's revenue in 2022 was $18,352,790.
Official website here: www.3mopen.com/3m-open-fund
Who are the executives of 3M Open Fund and what are their salaries?
There are 12 employees and 1500 volunteers at 3M Open Fund.
Here are 14 key members and their salaries:
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Official website here: www.3mopen.com/3m-open-fund
Where can I find the form 990 for 3M Open Fund?
3M Open Fund's most recent form 990 was submitted in 2022 and can be accessed here.
Official website here: www.3mopen.com/3m-open-fund
Learn more at the official website: www.3mopen.com/3m-open-fund
Mission Statement of 3M Open Fund
The 3M Open Fund, a nonprofit organization, is dedicated to organizing an annual professional golf tournament as part of the PGA Tour. The primary objective of this event is to generate positive contributions to the community through the proceeds donated from the tournament.
Established with a mission to make a difference, the 3M Open Fund aims to run a professional golf tournament that captivates and engages the local audience, ultimately translating into significant charitable donations. By collaborating with the PGA Tour, the organization ensures a high-caliber event that attracts golf enthusiasts and spectators alike. The 3M Open Fund's commitment to charitable giving sets it apart, creating a lasting impact on the community.
During the summer months, the 3M Open Fund successfully held its annual golf tournament. The event, which attracted top golf professionals, brought together golf lovers and supporters of various charitable causes. The proceeds from the tournament, which were the net result of sponsorships, ticket sales, and other revenues, were earmarked for charitable donations, embodying the organization's mission to give back to the community.
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Impact
October, 2024
The 3M Open Fund significantly impacts the community by organizing an annual PGA Tour-sanctioned professional golf tournament, which serves as a platform for raising charitable donations. The net proceeds from this event are directed to various local initiatives, enhancing the quality of life in Blaine, Minnesota, and surrounding areas. Through this tournament, the fund not only promotes sports and recreation but also fosters community engagement and supports vital programs and services that benefit residents. By aligning professional sports with philanthropy, the 3M Open Fund embodies a commitment to nurturing community development and well-being.
This information is meant to be a general summary of 3M Open Fund. 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 2022.
- Program Service Revenue: $12,554,274
- Gross Receipts: $18,352,790
Assets and Liabilities:
- Total Assets: $3,171,074
- Total Liabilities: $9,052,447
- Net Assets: -$5,881,373
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
SPONSORSHIP
Revenue
$9,771,239
PRO-AM REVENUE
Revenue
$1,233,953
CONCESSIONS, CATERING, AND PARKIN
Revenue
$1,008,046
TICKET SALES
Revenue
$541,036
Organization Details
Founding Year
2018
Phone
(763) 783-9000Principal Officer
Kady Stoll
Main Address
11074 RADISSON ROAD NORTHEAST, BLAINE, MN, 55449
Website
www.3mopen.com/3m-open-fundNTEE Category
Code: T31 - Philanthropy
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