Foundation X

Learn about this cause: Is it Legit? Do I like the mission? What is the CEO's salary?

EIN: 871331226 ✦ Minneapolis, MN ✦ Designated as a 501(c)(3)

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Overview

What is Foundation X?

Foundation X is a nonprofit organization situated in Minneapolis, Minnesota. Their primary mission is to promote philanthropy and contribute to the betterment of communities by providing matching funds to individuals who wish to support causes they care about. Through this initiative, they have supported a total of $37,809 in donations. Foundation X believes in the power of effective philanthropy to drive sustainable community change, working towards a greater good for all.


Official website here: www.foundation-x.org/

Is Foundation X legitimate?

Foundation X is a legitimate nonprofit organization registered as a 501(c)(3) entity. Foundation X 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

For more financial information, click here


Official website here: www.foundation-x.org/

What is the mission statement of Foundation X?

Foundation X's mission is centered around achieving a greater good for all through effective philanthropy. This approach aims to foster long-term and sustainable community change. The organization implements this mission by providing matching funds to individuals, enabling them to amplify their personal efforts in giving back to the causes and communities they are passionate about. As of the provided data, a total of $37,809 has been given through this initiative.


Official website here: www.foundation-x.org/

Who is the CEO of Foundation X?

Emily Vennerstrom is the President of Foundation X.


Official website here: www.foundation-x.org/

What is the revenue of Foundation X?

Foundation X's revenue in 2022 was -$1,717.


Official website here: www.foundation-x.org/

Who are the executives of Foundation X and what are their salaries?


Here are 7 key members and their salaries:


Rob Nelson (President)
  • Compensation: $0
  • Related: $0
  • Other: $0
Sean Baenen (Vice President)
  • Compensation: $0
  • Related: $0
  • Other: $0
Emily Vennerstrom (Secretary & Exec Dir)
  • Compensation: $0
  • Related: $0
  • Other: $0
Sumit Mehta 1122-43022 (Treasurer)
  • Compensation: $0
  • Related: $0
  • Other: $0
Todd Moser (Director)
  • Compensation: $0
  • Related: $0
  • Other: $0
Ward Armstrong (Director)
  • Compensation: $0
  • Related: $0
  • Other: $0
Jessica Huggenvik 6122-123122 (Director)
  • Compensation: $0
  • Related: $0
  • Other: $0


Official website here: www.foundation-x.org/

Where can I find the form 990 for Foundation X?

Foundation X's most recent form 990 was submitted in 2022 and can be accessed here.


Official website here: www.foundation-x.org/

Learn more at the official website: www.foundation-x.org/

Mission Statement of Foundation X

Foundation X, a philanthropic organization, is committed to bringing about a greater good for all by implementing effective philanthropy that fosters long-term and sustainable community change. The organization achieves this mission by providing matching funds to individuals who are passionate about giving back to the causes and communities they care about. As of the provided information, Foundation X has contributed a total of $37,809 towards these personal efforts. By doing so, the organization empowers individuals to make a significant impact in their communities, thus contributing to a collective effort towards positive change.

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Impact




October, 2024

Foundation X significantly impacts communities by facilitating effective philanthropy that drives long-term and sustainable change. By providing matching funds to individuals, it empowers them to engage actively in charitable activities and support the causes they are passionate about. This innovative approach not only amplifies individual contributions but also fosters a culture of giving back. With a total giving of $37,809, Foundation X ensures that more resources are directed toward community-focused initiatives in Minneapolis, MN, enhancing the overall welfare of the community and creating lasting benefits for those in need.




This information is meant to be a general summary of Foundation X. 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.

Revenue
-$1,717 (2022)
20212022$-70,000$0$70,000$140k$210k
Expenses
$49,981 (2022)
20212022$0$35,000$70,000$105k$140k
Efficiency
202120220%0.2%0.4%0.6%0.8%1%

Other financial information:

This information is from the most recently submitted tax form from this organization, which was in 2022.

  • Investment Income: -$1,819
  • Gross Receipts: $50,757

Assets and Liabilities:

  • Total Assets: $34,325
  • Total Liabilities: $0
  • Net Assets: $34,325

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Organization Details

Founding Year

2021

Principal Officer

Emily Vennerstrom

Main Address

225 SOUTH SIXTH ST 1400, MINNEAPOLIS, MN, 55402

NTEE Category

Code: T30 - Philanthropy

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