Civic Intelligence

Philanthrofund Foundation Inc

990 • Fiscal year 2016 • EIN 36-3567019

Jul 01, 2015 to Jun 30, 2016 • Filed on May 04, 2017

2801 21st Avenue SouthMinneapolis, MN 55407

(612) 870-1806

Siviq Scores

Precomputed percentiles for this filing year versus similar nonprofits in the same peer cohort.

Liabilities / Assets

71st percentile

0.20x

Higher debt load relative to assets than 71% of similar nonprofits.

2016 filings • 501(c)3 • $500k-$1M nonprofits • Source year 2016

Liabilities / Revenue

83rd percentile

0.44x

Higher debt load relative to revenue than 83% of similar nonprofits.

2016 filings • 501(c)3 • $500k-$1M nonprofits • Source year 2016

Net Margin

8th percentile

-40%

Higher net margin than 8% of similar nonprofits.

2016 filings • 501(c)3 • $500k-$1M nonprofits • Source year 2016

Top Officer Pay

85th percentile

$89,744

Higher top officer pay than 85% of similar nonprofits.

Top officer pay equals 23.9% of source-year revenue.

2016 filings • 501(c)3 • $500k-$1M nonprofits • Source year 2016

Asset Growth

10th percentile

-18%

Faster asset growth than 10% of similar nonprofits.

2016 filings • 501(c)3 • $500k-$1M nonprofits • Annualized from 2015 to 2016

Revenue Growth

11th percentile

-30%

Faster revenue growth than 11% of similar nonprofits.

2016 filings • 501(c)3 • $500k-$1M nonprofits • Annualized from 2015 to 2016

Assets

Down

$813,917

Down $175,587 (-18%) from 2015

Net Assets

Down

$648,622

Down $175,184 (-21%) from 2015

Liabilities

Down

$165,295

Down $403 (-0.2%) from 2015

Revenue

Down

$375,441

Down $163,180 (-30%) from 2015

Expenses

Down

$523,882

Down $81,075 (-13%) from 2015

Net Income

Down

-$148,441

Down $82,105 (-124%) from 2015

Historical Trend

Balance Sheet Trend

The highlighted filing sits inside the broader history for assets, liabilities, and net assets.

$4.0M$3.0M$2.0M$1.0M$0Assets 2011: $1,322,415Liabilities 2011: $119,748Net Assets 2011: $1,202,6672011Assets 2012: $1,017,765Liabilities 2012: $110,884Net Assets 2012: $906,8812012Assets 2013: $1,084,796Liabilities 2013: $22,410Net Assets 2013: $1,062,3862013Assets 2014: $1,017,004Liabilities 2014: $64,246Net Assets 2014: $952,7582014Assets 2015: $989,504Liabilities 2015: $165,698Net Assets 2015: $823,8062015Assets 2016: $813,917Liabilities 2016: $165,295Net Assets 2016: $648,6222016Assets 2017: $1,067,291Liabilities 2017: $161,708Net Assets 2017: $905,5832017Assets 2018: $981,311Liabilities 2018: $106,017Net Assets 2018: $875,2942018Assets 2019: $966,132Liabilities 2019: $157,072Net Assets 2019: $809,0602019Assets 2020: $995,781Liabilities 2020: $77,823Net Assets 2020: $917,9582020Assets 2021: $1,159,081Liabilities 2021: $69,226Net Assets 2021: $1,089,8552021Assets 2022: $1,367,868Liabilities 2022: $104,852Net Assets 2022: $1,263,0162022Assets 2023: $1,177,072Liabilities 2023: $14,674Net Assets 2023: $1,162,3982023Assets 2024: $2,294,351Liabilities 2024: $50,734Net Assets 2024: $2,243,6172024Assets 2025: $3,687,893Liabilities 2025: $1,022,453Net Assets 2025: $2,665,4402025

Highlighted filing

2016

Assets$813,917
Liabilities$165,295
Net Assets$648,622

Operations Trend

Revenue, expenses, and net income across loaded years, with this filing highlighted.

$4.0M$3.0M$2.0M$1.0M$0-$1.0MExpenses 2011: $574,3782011Expenses 2012: $756,9182012Expenses 2013: $549,6412013Revenue 2014: $534,692Expenses 2014: $710,927Net Income 2014: -$176,2352014Revenue 2015: $538,621Expenses 2015: $604,957Net Income 2015: -$66,3362015Revenue 2016: $375,441Expenses 2016: $523,882Net Income 2016: -$148,4412016Revenue 2017: $692,865Expenses 2017: $415,028Net Income 2017: $277,8372017Revenue 2018: $494,251Expenses 2018: $539,739Net Income 2018: -$45,4882018Revenue 2019: $457,742Expenses 2019: $529,689Net Income 2019: -$71,9472019Revenue 2020: $647,358Expenses 2020: $538,460Net Income 2020: $108,8982020Revenue 2021: $892,177Expenses 2021: $720,280Net Income 2021: $171,8972021Revenue 2022: $991,826Expenses 2022: $665,530Net Income 2022: $326,2962022Revenue 2023: $913,882Expenses 2023: $1,063,197Net Income 2023: -$149,3152023Revenue 2024: $2,946,122Expenses 2024: $1,939,624Net Income 2024: $1,006,4982024Revenue 2025: $3,410,315Expenses 2025: $3,061,347Net Income 2025: $348,9682025

Highlighted filing

2016

Revenue$375,441
Expenses$523,882
Net Income-$148,441
Jump To
Filing Snapshot
Filing Period
Jul 1, 2015 to Jun 30, 2016
Signed
May 4, 2017
Return Version
2015v3.0
Gross Receipts
$791,230
Mission and Program Overview

Mission

Pfund foundation builds equity with lgbtq+ communities across the upper midwest by providing grants and scholarships, developing leaders, and inspiring giving.

Philanthrofund Foundation is a vital resource and community builder for lesbian, gay, bisexual, transgender and allied communities by providing grants and scholarships, developing leaders, and inspiring giving.

Balance Sheet Detail
LineBeginningEndChange
Assets
Investments in Publicly Traded Securities$932,001$783,367▼ $148,634
Cash and Non-Interest-Bearing Accounts$44,314$21,677▼ $22,637
Prepaid Expenses and Deferred Charges$4,884$5,949▲ $1,065
Accounts Receivable$7,440$2,924▼ $4,516
Savings and Temporary Cash Investments$865$0▼ $865
Other Notes and Loans Receivable, Net-$0-
Pledges and Grants Receivable-$0-
Receivable From Disqualified Prsn-$0-
Receivables From Officers Etc-$0-
Investments Other Securities-$0-
Investments Program Related-$0-
Land, Buildings, and Equipment, Net-$0-
Intangible Assets-$0-
Inventories for Sale or Use-$0-
Total Assets$989,504$813,917▼ $175,587
Other Assets Total-$0-
Liabilities
Mortgage Notes Payable Secured by Investment Property$100,000$100,000→ $0
Grants Payable$50,700$51,200▲ $500
Accounts Payable and Accrued Expenses$14,998$14,095▼ $903
Total Liabilities$165,698$165,295▼ $403
Net Assets / Fund Balance
Permanently Rstr Net Assets$937,593$529,046▼ $408,547
Unrestricted Net Assets$-167,275$104,335▲ $271,610
Temporarily Rstr Net Assets$53,488$15,241▼ $38,247
Total Net Assets Fund Balance$823,806$648,622▼ $175,184
Total Liabilities and Net Assets / Fund Balance$989,504$813,917▼ $175,587

Asset Categories

AssetBook ValueDepreciationBasis
Equipment-$20,821$20,821

Endowment Activity

PeriodBeginningContrib.Gain/LossOther UsesEnd
2015$867,816$4,634▼ $17,314$375,066$480,070
2014$885,710$31,584▲ $18,344$67,822$867,816
2013$795,874$41,296▲ $101,191$52,651$885,710
2012$770,298$2,423▲ $69,706$46,553$795,874
2011$799,014$11,974▼ $500$40,190$770,298
Compensation and Service Providers

Employees

NameTitleFull / Part TimeBaseOtherTotal
Trina OlsonExecutive DirectorFT$84,512$5,232$89,744

Board Members and Trustees

NameTitle
Saby LaborAdv. Comm Chair
Abel KnochelDev. Comm Chair
Luciano PatinoPresident
K Davis SensemanVice President
Barbara SatinDirector
Dawn LadassorDirector
Jason BucklinDirector
Jennifer HoustonDirector
Lois CarlsonDirector
Ralph WymanDirector
Zack PackineauDirector
Coya White Hat-artichokerSecretary
Curtis BrockTreasurer
Revenue and Support

Revenue Composition

Contributions and Grants
$347,484
Program Service Revenue
$3,777
Investment Income
$24,180
Other Revenue
$0
All Other Contributions
$347,484
Change in Net Assets
$-148,441

Audited Revenue Reconciliation

Revenue per Audited Statements
$360,940
Revenue Not Reported on Financial Statements
$14,501
Revenue Not Reported on Form 990
$-26,743
Total Revenue per Audited Statements
$334,197
Total Revenue per Form 990
$375,441
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Salaries, Compensation, and Employee Benefits$329,208
Other Expenses$133,474
Total Fundraising Expense$70,789
Grants and Similar Amounts Paid$61,200
Professional Fundraising Fees$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages$139,627$26,158$32,903$198,688
Current Officers, Directors, Trustees, and Key Employees$63,463$11,355$14,926$89,744
Grants to Domestic Individuals$61,200--$61,200
Fees for Services Other$26,872$1,306$1,738$29,916
Occupancy$18,269$3,226$4,295$25,790
Payroll Taxes$15,064$2,822$3,549$21,435
Other Employee Benefits$15,055$845$3,441$19,341
Fees for Service Investment Mgmnt Fees-$14,501-$14,501
Information Technology$10,803$664$883$12,350
Office Expenses$8,881$1,006$1,840$11,727
Advertising$4,547-$1,866$6,413
Conferences and Meetings$3,408$540$718$4,666
Travel$3,455$12$338$3,805
Other Expenses$2,338$208$276$2,822
Insurance$1,628$287$382$2,297
All Other Expenses$1,377$20$26$1,423
Total Functional Expenses$385,130$67,963$70,789$523,882

Audited Expense Reconciliation

Line ItemAmount
Total Expenses per Form 990$523,882
Expenses per Audited Statements$509,381
Total Expenses per Audited Statements$509,381
Expenses Not Reported on Financial Statements$14,501
Fundraising, Events, and Gaming
Fundraising activities
No
Gaming activities
No
Professional fundraiser used
No

Fundraising and Gaming Totals

Line ItemAmount
Professional Fundraising Fees$0
Political and Lobbying Activity
Political campaign activity
No
Lobbying activity
No
Subject to proxy tax
No
Insider Transactions and Loans

Loans and Receivables

Line ItemBeginningEndChange
Receivables from Disqualified Persons-$0-
Receivables from Officers, Directors, Trustees, and Key Employees-$0-
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
Yes
Annual disclosure for covered persons
Yes
Audit committee
Yes
Backup withholding compliance
Yes
Business relationship with family members
No
Business relationship with organization members
No
Material changes to governing documents
No
Compensation from other sources disclosed
No
CEO compensation reviewed
Yes
Other officer compensation reviewed
Yes
Conflict-of-interest policy
Yes
Audited financial statements prepared
No
Key decisions subject to board approval
No
Management duties delegated
No

Governance Explanations

Form 990, Part VI, Line 11B: Form 990 Review Process

The Treasurer and Finance Committee review the completed 990. The executive committee is empowered to review and approve the 990 if the full Board cannot due to timing in regards to the filing date. The Board Chair and Executive Director or other designated signatories sign the 990. The 990 form is then circulated electronically to the full board prior to filing.

Form 990, Part VI, Line 12C: Explanation of Monitoring and Enforcement of Conflicts

Each pfund director and staff member shall annually complete a disclosure form identifying any relationships, positions or circumstances in which the pfund person in involved that he or she believes could contribute to a conflict of interest. Detailed procedures for monitoring and enforcing the conflict of interest policy are in the written policy.

Form 990, Part VI, Line 15A: Compensation Review & Approval Process - CEO, Top Management

Pfund foundation conducts performance reviews annually. A performance review does not necessarily imply an increase in pay. Pfund foundation is committed in principle to paying market wages insofar as possible. Due to the size and non-profit status of the organization, this may not always be possible. In compensating employees, pfund will consider the following: 1. The employee's relevant education and experience; 2. The employee's on-the-job performance; 3. The compensation of other employees with similar qualifications; 4. The compensation paid by other organizations to employees with the same position and similar qualifications; 5. The employee's overall contribution to the organization; and 6. Pfund foundation's ability to pay. Compensation and benefit reviews happen annually. The executive director shall have sole discretion in determining employee compensation. The executive director's salary and benefits are determined by the board executive committee.

Form 990, Part VI, Line 15B: Compensation Review and Approval Process for Officers and Key Employees

Pfund foundation is committed in principle to paying market wages insofar as possible. In compensating employees, pfund will consider the following: 1. The employee's relevant education and experience; 2. The employee's on-the-job performance; 3. The compensation of other employees with similar qualifications; 4. The compensation paid by other organizations to employees with the same position and similar qualifications; 5. The employee's overall contribution tot he organization; and 6. Pfund foundation's ability to pay. The executive director shall have sole discretion in determining employee compensation. The executive director's salary and benefits are determined by the board executive committee.

Form 990, Part VI, Line 19: Other Organization Documents Publicly Available

The organization makes its governing documents, conflict of interest policy and financial statements available to the public upon request. The foundation's annual financial statements are also posted on the foundation's website, www.pfundFOUNDATION.org.

Filing and Contact Details

Filer

Filer Name
Philanthrofund Foundation
EIN
36-3567019
Phone
6128701806
Address
2801 21st Avenue South, MINNEAPOLIS, MN 55407

Signing Officer

Name
Luciano Patino
Title
President
Signed
2017-05-04
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Luciano Patino
Formed
1987
Legal Domicile
Mn
Voting Board Members
13
Independent Board Members
13
Employees
8
Volunteers
44

Preparer

Firm
Carpenter Evert & Associates
Address
7760 France Ave S 940, Bloomington, MN 55435
Preparer
Marc Colin
Phone
9528310085
Supplemental Narrative

Additional Explanations

Form 990, Part III, Line 2: New Services

We launched a new quarterly educational series called Queering Philanthropy. We invite experts to talk with members of the community about the unique ways that the philanthropic sector and LGBTQ community intersect. Topics of the series have included the unique needs for LGBTQ people when making planned gifts, the disparities across race affecting the LGBTQ community and why voter engagement is so important. Additionally, we are building a cadre of local business professionals through mutually beneficial partnerships, now known as the PFund Business Advisors. This program provides quarterly in-person gatherings as well as LGBTQ and philanthropic expertise to local business leaders across sectors. The goals are to engage more community members through cross-promotion, education and visibility about LGBTQ people and issues in the upper Midwest.

Form 990, Part III, Line 3: Ceased Conducting or Significant Changes To Services

Pause in Organizational grant giving, focusing on grants/scholarships to individuals.

Financial Statement Notes

Part X : FIN48 Footnote

The Organization has a tax-exempt status under Section 501(c)(3) of the Internal Revenue Code and has adopted Accounting for Uncertainty in Income Taxes, ASC 740-10. The Organization's policy is to evaluate uncertain tax positions, at least annually, for the potential for income tax exposure from unrelated business income or from loss of nonprofit status. The Organization continues to operate consistent with its original exemption application and each year takes the necessary actions to maintain its exempt status. It has been classified as an organization that is not a private foundation under the Internal Revenue Code and charitable contributions by donors are tax deductible. In compliance with its exempt status, the organization annually files a return of exempt from income tax (Form 990).

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IRS990/Desc0Improved Foundation Infrastructure:In September 2015 PFund Foundation launched its brand new websitewww.PFundFoundation.org. This more accessible website contains updated content and was built on a content management system so that updates can be made in real time at low to no cost. In addition, PFund Foundation began using ZoomGrants to administer an online application for our grant-making. This improvement has reduced printing and mailing costs, provided improved review tools for our volunteer community reviewers and made the process far more efficient and acceptable for those applying.In the fall of 2015, PFund Foundation moved into the Center for Progressive Philanthropy (2801 21st Ave. S, Ste. 132B, Minneapolis, MN 55407). The center contains two conference rooms which has allowed us to host more events and meetings than we could at our office in Loring Park. The location is accessible by MetroTransit lines including the 21 bus and Blue Line train. The suite also houses Headwaters Foundation for Justice, Native Americans in Philanthropy and Tiwahe Foundation. Were happy to be sharing space with industry colleagues and are grateful that our administrative and contract costs have now been made much more streamlined.Elevated Priorities:We asked an important question: what's next? Although the Supreme Court ruled in favor of marriage equality in June of 2015, the fight for LGBTQ rights and fair treatment is far from over. We recognize that the landscape of the LGBTQ movement has shifted.Barriers and mistreatment based on race, class, gender identity and sexual orientation call for our community to respond. PFund Foundation is ready to provide the resources and opportunities to address these disparities.Consequently, we developed three elevated priorities to help focus our attention and work: queer People of Color, Transgender and Gender Non-Conforming people and LGBTQ North Dakotans and South Dakotans.Why these criteria:1) LGBTQ people of color are six times more likely to experience poverty than LGBTQ white people. Disparities in education, housing and employment are vast.2) Anti-transgender bias and policies continue to reinforce negative stereotypes and treatment. Consequently, transgender people are 4 times more likely to live in extreme poverty and are the faction of our community experience extreme violence because of their gender identity and presentation.3) North Dakota and South Dakota have the most discriminatory policies against LGBTQ communities in our region. You can be married on Sunday, fired on Monday and evicted on Tuesday simply because of your sexual orientation, gender identity or expression. Policies are hostile and anti-LGBTQ opposition is hyper vigilant.Investing in Bold LGBTQ Leaders:PFund Foundation invests in bold leaders so that lesbian, gay, bisexual transgender and queer communities can thrive. We're extremely happy to share that after our grant process, we're living into our Elevated Priorities with the selection of 21 Individual Leaders. This year our program grew from 16 to 21 leaders awarding $61,200 for their educational and professional development pursuits.-One-half identify has transgender or gender nonconforming-Two-third identify as people of color-Nine are from across our region -We intentionally invested in leaders across the lifespan ranging in age from 17 to 61This year's cohort is a diverse and inspirational group of LGBTQ leaders. These leaders are recognized for their leadership in their communities, from advocating for inclusive school climates and policies to excelling in the performing arts and educating their peers about LGBTQ communities.Funding Forward:PFund Foundation continues to position itself as the expert in queer philanthropy in the upper Midwest. In a post marriage equality reality funding is shifting and the Midwest is about to be the most underfunded region with relationship to LGBTQ people and issues in the United States.In March 2016, PFund Foundation and Minneso
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IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/CurrentTaxYearMinus4YearsAmt0451210
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IRS990ScheduleA/GovtFurnSrvcFcltsVl170Grp/TotalAmt00

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Filings

Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2025Detailed filing. Detailed filing data is available for this year.$3.69$1.02$2.67$3.41$3.06$0.35
2024Detailed filing. Detailed filing data is available for this year.$2.29$0.05$2.24$2.95$1.94$1.01
2023Detailed filing. Detailed filing data is available for this year.$1.18$0.01$1.16$0.91$1.06$0.15
2022Detailed filing. Detailed filing data is available for this year.$1.37$0.10$1.26$0.99$0.67$0.33
2021Detailed filing. Detailed filing data is available for this year.$1.16$0.07$1.09$0.89$0.72$0.17
2020Detailed filing. Detailed filing data is available for this year.$1.00$0.08$0.92$0.65$0.54$0.11
2019Detailed filing. Detailed filing data is available for this year.$0.97$0.16$0.81$0.46$0.53$0.07
2018Detailed filing. Detailed filing data is available for this year.$0.98$0.11$0.88$0.49$0.54$0.05
2017Detailed filing. Detailed filing data is available for this year.$1.07$0.16$0.91$0.69$0.42$0.28
2016Detailed filing. Detailed filing data is available for this year.$0.81$0.17$0.65$0.38$0.52$0.15
2015Detailed filing. Detailed filing data is available for this year.$0.99$0.17$0.82$0.54$0.60$0.07
2014Detailed filing. Detailed filing data is available for this year.$1.02$0.06$0.95$0.53$0.71$0.18
2013Facts available. Structured filing facts are available, but richer extracted sections are limited.$1.08$0.02$1.06$0.55
2012Facts available. Structured filing facts are available, but richer extracted sections are limited.$1.02$0.11$0.91$0.76
2011Facts available. Structured filing facts are available, but richer extracted sections are limited.$1.32$0.12$1.20$0.57