Civic Intelligence

Grand Itasca Foundation

EIN 41-1560554 • 501(c)3 • Grand Rapids, MN

Profile

To build philanthropic partnerships to support the mission of grand itasca clinic & hospital.

1601 Golf Course RoadGrand Rapids, MN 55744

n/A

Siviq Scores

Precomputed percentiles relative to similar nonprofits. These scores are descriptive rather than judgmental.

Liabilities / Assets

66th percentile

0.19x

Higher debt load relative to assets than 66% of similar nonprofits.

501(c)3 • $1M-$5M nonprofits • Source year 2024

Liabilities / Revenue

88th percentile

1.00x

Higher debt load relative to revenue than 88% of similar nonprofits.

501(c)3 • $1M-$5M nonprofits • Source year 2024

Net Margin

12th percentile

-27%

Higher net margin than 12% of similar nonprofits.

501(c)3 • $1M-$5M nonprofits • Source year 2024

Top Officer Pay

100th percentile

$1,865,094

Higher top officer pay than 100% of similar nonprofits.

Top officer pay equals 447.1% of source-year revenue.

501(c)3 • $1M-$5M nonprofits • Source year 2018

Asset Growth

10th percentile

-18%

Faster asset growth than 10% of similar nonprofits.

501(c)3 • $1M-$5M nonprofits • Annualized from 2023 to 2024

Revenue Growth

67th percentile

19%

Faster revenue growth than 67% of similar nonprofits.

501(c)3 • $1M-$5M nonprofits • Annualized from 2023 to 2024

Assets

Down

$1,433,236

Down $316,997 (-18%) from 2023

Liabilities

Up

$272,436

Up $10,270 (+3.9%) from 2023

Net Assets

Down

$1,160,800

Down $327,267 (-22%) from 2023

Revenue

Up

$272,620

Up $43,467 (+19%) from 2023

Expenses

Up

$347,207

Up $143,761 (+71%) from 2023

Net Income

Down

-$74,587

Down $100,294 (-390%) from 2023

Trend Graphs

Balance Sheet Trend

Grouped bars show assets, liabilities, and net assets across loaded filings.

$3.0M$2.0M$1.0M$0Assets 2010: $1,067,109Liabilities 2010: $0Net Assets 2010: $1,067,1092010Assets 2011: $533,103Liabilities 2011: $0Net Assets 2011: $533,1032011Assets 2012: $507,896Liabilities 2012: $11,054Net Assets 2012: $496,8422012Assets 2013: $549,057Liabilities 2013: $12,993Net Assets 2013: $536,0642013Assets 2014: $487,762Liabilities 2014: $23,813Net Assets 2014: $463,9492014Assets 2015: $478,599Liabilities 2015: $21,988Net Assets 2015: $456,6112015Assets 2016: $943,038Liabilities 2016: $22,164Net Assets 2016: $920,8742016Assets 2017: $2,330,351Liabilities 2017: $140,370Net Assets 2017: $2,189,9812017Assets 2018: $1,433,229Liabilities 2018: $557,700Net Assets 2018: $875,5292018Assets 2019: $1,086,497Liabilities 2019: $133,507Net Assets 2019: $952,9902019Assets 2020: $1,302,928Liabilities 2020: $262,003Net Assets 2020: $1,040,9252020Assets 2021: $1,726,764Liabilities 2021: $262,457Net Assets 2021: $1,464,3072021Assets 2022: $1,724,500Liabilities 2022: $262,140Net Assets 2022: $1,462,3602022Assets 2023: $1,750,233Liabilities 2023: $262,166Net Assets 2023: $1,488,0672023Assets 2024: $1,433,236Liabilities 2024: $272,436Net Assets 2024: $1,160,8002024

Highlighted filing

2024

Assets$1,433,236
Liabilities$272,436
Net Assets$1,160,800

Operations Trend

Revenue, expenses, and net income by year, with the latest filing highlighted.

$2.0M$1.0M$0-$1.0M-$2.0MExpenses 2010: $54,3382010Expenses 2011: $46,2422011Revenue 2012: $76,298Expenses 2012: $37,095Net Income 2012: $39,2032012Revenue 2013: $99,197Expenses 2013: $54,629Net Income 2013: $44,5682013Revenue 2014: $118,324Expenses 2014: $95,288Net Income 2014: $23,0362014Revenue 2015: $139,197Expenses 2015: $106,724Net Income 2015: $32,4732015Revenue 2016: $698,719Expenses 2016: $222,766Net Income 2016: $475,9532016Revenue 2017: $1,433,621Expenses 2017: $153,806Net Income 2017: $1,279,8152017Revenue 2018: $417,122Expenses 2018: $1,446,786Net Income 2018: -$1,029,6642018Revenue 2019: $735,415Expenses 2019: $657,954Net Income 2019: $77,4612019Revenue 2020: $482,819Expenses 2020: $518,509Net Income 2020: -$35,6902020Revenue 2021: $535,306Expenses 2021: $117,663Net Income 2021: $417,6432021Revenue 2022: $237,361Expenses 2022: $234,208Net Income 2022: $3,1532022Revenue 2023: $229,153Expenses 2023: $203,446Net Income 2023: $25,7072023Revenue 2024: $272,620Expenses 2024: $347,207Net Income 2024: -$74,5872024

Highlighted filing

2024

Revenue$272,620
Expenses$347,207
Net Income-$74,587

Filings

Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Detailed filing. Detailed filing data is available for this year.$1.43$0.27$1.16$0.27$0.35$0.07
2023Detailed filing. Detailed filing data is available for this year.$1.75$0.26$1.49$0.23$0.20$0.03
2022Detailed filing. Detailed filing data is available for this year.$1.72$0.26$1.46$0.24$0.23$0.00
2021Detailed filing. Detailed filing data is available for this year.$1.73$0.26$1.46$0.54$0.12$0.42
2020Detailed filing. Detailed filing data is available for this year.$1.30$0.26$1.04$0.48$0.52$0.04
2019Detailed filing. Detailed filing data is available for this year.$1.09$0.13$0.95$0.74$0.66$0.08
2018Detailed filing. Detailed filing data is available for this year.$1.43$0.56$0.88$0.42$1.45$1.03
2017Detailed filing. Detailed filing data is available for this year.$2.33$0.14$2.19$1.43$0.15$1.28
2016Detailed filing. Detailed filing data is available for this year.$0.94$0.02$0.92$0.70$0.22$0.48
2015Detailed filing. Detailed filing data is available for this year.$0.48$0.02$0.46$0.14$0.11$0.03
2014Detailed filing. Detailed filing data is available for this year.$0.49$0.02$0.46$0.12$0.10$0.02
2013Detailed filing. Detailed filing data is available for this year.$0.55$0.01$0.54$0.10$0.05$0.04
2012Summary only. Only limited summary data is available for this year.$0.51$0.01$0.50$0.08$0.04$0.04
2011Facts available. Structured filing facts are available, but richer extracted sections are limited.$0.53$0.00$0.53$0.05
2010Facts available. Structured filing facts are available, but richer extracted sections are limited.$1.07$0.00$1.07$0.05
Latest Filing Detail
Jump To
Filing Snapshot
Filing Period
Jan 1, 2024 to Dec 31, 2024
Signed
Nov 7, 2025
Return Version
2024v5.1
Gross Receipts
$330,628
Mission and Program Overview

Mission

To build philanthropic partnerships to support the mission of Grand Itasca Clinic and Hospital.

Balance Sheet Detail
LineBeginningEndChange
Assets
Cash and Non-Interest-Bearing Accounts$1,394,737$874,275▼ $520,462
Pledges and Grants Receivable$1,863$1,850▼ $13
Receivable From Disqualified Prsn$0$0→ $0
Receivables From Officers Etc$0$0→ $0
Investments Other Securities$0--
Investments Program Related$0--
Land, Buildings, and Equipment, Net$0$0→ $0
Loans From Officers Directors$0$0→ $0
Total Assets$1,750,233$1,433,236▼ $316,997
Other Assets Total$353,633$557,111▲ $203,478
Liabilities
Other Liabilities$261,937$261,963▲ $26
Escrow Account Liability-$10,244-
Accounts Payable and Accrued Expenses$229$229→ $0
Total Liabilities$262,166$272,436▲ $10,270
Net Assets / Fund Balance
Net Assets With Donor Restrictions$1,817,498$1,737,258▼ $80,240
Net Assets Without Donor Restrictions$-329,431$-576,458▼ $247,027
Total Net Assets Fund Balance$1,488,067$1,160,800▼ $327,267
Total Liabilities and Net Assets / Fund Balance$1,750,233$1,433,236▼ $316,997

Asset Categories

AssetBook ValueDepreciationBasis
Other Assets Org$10,244--

Endowment Activity

PeriodBeginningContrib.Gain/LossOther UsesEnd
2024$646,026$726,033▲ $122,765$6$1,446,406
2023$608,353$500▲ $65,602-$646,026
2022$714,988$2,040▼ $81,355-$608,353
2021$655,056-▲ $86,136$50$714,988
2020$527,409$100,725▲ $50,593-$655,056
Compensation and Service Providers

Employees

NameTitleOtherTotal
Kim MorseDirector, new 1-2024$103,237$103,237

Board Members and Trustees

NameTitle
Elizabeth MiskovichCo-Chair
Rose Villenueve GNPCo-Chair
Bryan SergotDirector
Dajana Condos DCDirector
Mike AultmanDirector
Mike JohnsonDirector
Scott Gerling MDDirector
Shane SkellyDirector
Spencer Buchert DDSDirector
Wendy RoyDirector
Crystal BurggrafDirector, new 1-2024
Brianne WagnerFoundation Director
Jean MacDonellEx-Officio
Katie Troumbly RNSecretary
Nick RothsteinTreasurer
Revenue and Support

Revenue Composition

Contributions and Grants
$129,978
Program Service Revenue
$0
Investment Income
$30,652
Other Revenue
$111,990
All Other Contributions
$129,978
Change in Net Assets
$-74,587

Audited Revenue Reconciliation

Revenue per Audited Statements
$0
Revenue Not Reported on Financial Statements
$0
Revenue Not Reported on Form 990
$0
Other Revenue Adjustments
$0
Total Revenue per Form 990
$0
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Grants and Similar Amounts Paid$336,935
Other Expenses$10,272
Professional Fundraising Fees$0
Salaries, Compensation, and Employee Benefits$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Grants to Domestic Orgs$290,224--$290,224
Grants to Domestic Individuals$46,711--$46,711
Office Expenses-$4,640-$4,640
Information Technology-$3,327-$3,327
Other Expenses-$26-$26
Total Functional Expenses$336,935$10,272$0$347,207

Audited Expense Reconciliation

Line ItemAmount
Expenses Not Reported on Financial Statements$0
Expenses Not Reported on Form 990$0
Expenses per Audited Statements$0
Other Expense Adjustments$0
Total Expenses per Form 990$0
International Activity

Grant and Assistance Recipients

RecipientLocationCategoryPurposeAmount
Grand Itasca Clinic and HospitalGrand Rapids, MN501( c)(3)To support the program services of Grand Itasca Clinic and Hospital$289,224
Fundraising, Events, and Gaming
Fundraising activities
Yes
Gaming activities
No
Professional fundraiser used
No

Fundraising and Gaming Totals

Line ItemAmount
Fundraising Gross Income$169,998
Fundraising Direct Expenses$58,008
Professional Fundraising Fees$0

Fundraising Events

EventGross ReceiptsGross RevenueDirect ExpensesNet Income
Caring For Kids Golf Tournament$169,998$169,998$12,586$157,412
Event 2-$0-$0
Total Events$169,998$169,998$58,008$111,990
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
Loans from Officers, Directors, Trustees, and Key Employees$0$0→ $0
Receivables from Disqualified Persons$0$0→ $0
Receivables from Officers, Directors, Trustees, and Key Employees$0$0→ $0
Debt and Bond Financing

Other Reported Liabilities

LiabilityAmount
Federal Income Taxes$261,963
Intercompany Payable-
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
Yes
Audit committee
Yes
Business relationship with 35% controlled entity
No
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
No
Other officer compensation reviewed
No
Conflict-of-interest policy
Yes
Audited financial statements prepared
Yes
Key decisions subject to board approval
Yes
Management duties delegated
No

Governance Explanations

Form 990, Part VI, Line 6 Classes of members or stockholders

Grand Itasca Clinic & Hospital, a Minnesota nonprofit corporation, is the sole member of Grand Itasca Foundation.

Form 990, Part VI, Line 7A Members or stockholders electing members of governing body

Grand Itasca Clinic & Hospital, as the only voting member of Grand Itasca Foundation, has the authority to elect and remove the directors of Grand Itasca Foundation with or without cause, at any time.

Form 990, Part VI, Line 7B Decisions requiring approval by members or stockholders

Various powers, as stated in Section 4.4 of Grand Itasca Foundation's bylaws, are reserved for Grand Itasca Clinic & Hospital, the one voting member of Grand Itasca Foundation

Form 990, Part VI, Line 11B Review of form 990 by governing body

Form 990 is reviewed by the Board of Directors and the Foundation director prior to filing with the IRS.

Form 990, Part VI, Line 12C Conflict of interest policy

Conflict of Interest policies are reviewed annually. Conflict of Interest forms are signed annually by all board members.

Form 990, Part VI, Line 19 Required documents available to the public

Financial statements, conflict of interest policy and governing documents are available upon request for the same period of disclosure as set forth in Section 6104(D).

Form 990, Part VII, Section B, Line 1 Additional Information

Form 1099's were filed by a related organization Fairview Health Services, a 501(c)(3) non-profit, tax-exempt organizations. Fairview Health Services reports the five highest compensated independent contractors for the system.

Filing and Contact Details

Filer

Filer Name
Grand Itasca Foundation
EIN
41-1560554
Address
1601 Golf Course Road, Grand Rapids, MN 55744

Signing Officer

Name
Jean MacDonell
Title
President & CEO
Signed
2025-11-07

Organization Details

Formed
1986
Legal Domicile
Mn
Voting Board Members
15
Independent Board Members
11
Employees
0
Volunteers
0
Supplemental Narrative

Additional Explanations

Form 990, Part V, Line 1A Part V, Line 1A

All cash disbursements are centralized through a related organization, Fairview Health Services a 501(c)3 non-profit tax-exempt organization. Therefore, the related organization, Fairview Health Services, makes the payment and files the related Form 1099's and Form 1096 instead of this organization.

Form 990, Part V, Line 2A

Grand Itasca Foundation leases employees from a related organization, Grand Itasca Clinic and Hospital, a 501(c)(3) tax-exempt, non-profit organization. Therefore, Grand Itasca Clinic and Hospital files the appropriate W-3 and related W-2 tax forms for these individuals instead of Grand Itasca Foundation. The leased employee compensation on the Grand Itasca Foundation Form 990 Part VII and Schedule J is reported as compensation paid by related organization, Grand Itasca Clinic and Hospital.

Form 990, Part V, Line 15 Section 4960 Tax

Fairview Health Services, a related 501(c)3 tax-exempt organization, files and remits all related Section 4960 excise tax on Form 4720 for the system.

Form 990, Part XI, Line 9 Other changes in net assets or fund balances

Net Asset Adjustment - -5653; Total - -5653;

Financial Statement Notes

Schedule D, Part V, Line 3A(I)

The organizations endowment funds are held through Grand Rapids Area Community Foundation, an unrelated but nonprofit organization.

Schedule D, Part IV, Line 2B Explanation of escrow agreement

Grand Itasca Foundation acts as a fiscal agent for a local running event, Running the Rapids.

Schedule D, Part V, Line 4 Intended uses of endowment funds

THE ENDOWMENT FUNDS INCLUDE DONOR-RESTRICTED FUNDS. THE GRAND ITASCA FOUNDATION ENDOWMENT FUNDS ARE USED FOR GRAND ITASCA CLINIC AND HOSPITAL NEEDS, The Itasca Hospice Foundation Endowment funds are used to support patients and families in need of quality end of life services, and THE MR. AND MRS. ROBERT KELLY SCHOLARSHIP ENDOWMENT FUNDS ARE SOLELY FOR SCHOLARSHIPS. THE FOUNDATION INTENDS TO USE THEIR ENDOWMENT FUNDS IN THE MANNER FOR WHICH THEY WERE RESTRICTED.

Schedule D, Part X, Line 2 FIN 48 (ASC 740) footnote

Grand Itasca Foundation is part of Fairview Health Services. Fairview recognizes all tax positions, including those positions in a previously filed tax return or a position expected to be taken in a future tax filing that is reflected in measuring current or deferred income tax assets and liabilities, when it is more likely than not (likelihood of greater than 50%) that, based on technical merits, the position will be sustained upon examination. $8,300,000 and $6,800,000 uncertain tax positions recorded on the consolidated balance sheets as of December 31, 2024 and 2023, respectively. Fairview has made reasonable estimates of the provision for income taxes and on existing deferred tax balances based on accounting guidance included in ASC 740, Income Taxes. Fairview does not expect that there will be a significant change in the total amount of unrecognized tax benefits within the next 12 months.

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