Red Jet Foundation

990PF • Fiscal year 2022 • EIN 41-2021695

Jan 01, 2022 to Dec 31, 2022 • Filed on Oct 04, 2023

Organization Profile

1245 Oakview RoadMedina, MN 55356-9595

(763) 449-0245

Siviq Scores

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

0.00x

Tied with the lowest-debt nonprofits in its peer group.

2022 filings • $1M-$5M nonprofits • Source year 2022

0.00x

Tied with the lowest-debt nonprofits in its peer group.

2022 filings • $1M-$5M nonprofits • Source year 2022

-1143%

Higher net margin than 1% of similar nonprofits.

2022 filings • $1M-$5M nonprofits • Source year 2022

Higher top officer pay than 46% of similar nonprofits.

Top officer pay equals 0.0% of source-year revenue.

2022 filings • $1M-$5M nonprofits • Source year 2022

-10%

Faster asset growth than 18% of similar nonprofits.

2022 filings • $1M-$5M nonprofits • Annualized from 2021 to 2022

-94%

Faster revenue growth than 2% of similar nonprofits.

2022 filings • $1M-$5M nonprofits • Annualized from 2021 to 2022

Balance Sheet

Liabilities / Assets31st percentile

Assets

Down

$1,156,525

Down $130,858 (-10%) from 2021

Net Assets

Down

$1,156,525

Down $130,858 (-10%) from 2021

Liabilities

Flat

Flat from 2021

Revenue And Expenses

Liabilities / Revenue29th percentile Net Margin1st percentile

Revenue

Down

$8,662

Down $143,393 (-94%) from 2021

Expenses

$107,700

Up $42,217 (+64%) from 2021

Net Income

Down

-$99,038

Down $185,610 (-214%) from 2021

Historical Trend

Balance Sheet Trend

Asset Growth18th percentile

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

Highlighted filing

2022

Assets$1,156,525

Liabilities$0

Net Assets$1,156,525

Open 2022 Filing

Operations Trend

Revenue Growth2nd percentile

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

Highlighted filing

2022

Revenue$8,662

Expenses$107,700

Net Income-$99,038

Open 2022 Filing

Jump To

Filing Snapshot

Filing Period: Jan 1, 2022 to Dec 31, 2022
Signed: Oct 4, 2023
Return Version: 2022v5.0

Compensation and Service Providers

Top Officer Pay46th percentile

Employees

Name	Title	Full / Part Time	Base	Other	Total
DANIEL J SULLIVAN III	President	-	$0	-	-

Filing and Contact Details

Filer

Filer Name: Red Jet Foundation
EIN: 41-2021695
Phone: 7634490245
Address: 1245 OAKVIEW ROAD, MEDINA, MN 55356-9595

Signing Officer

Name: Daniel J Sullivan Iii
Title: President
Phone: 7634490245
Signed: 2023-10-04
Discuss with paid preparer: Yes

Preparer

Firm: Wipfli Llp
Address: 1502 LONDON ROAD SUITE 200, DULUTH, MN 55812
Preparer: Michael J Peterson CPA
Phone: 2187224705

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This appendix keeps the raw XML leaves available for debugging and edge-case review. The human report above is the primary experience.

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IRS990PF/OfficerDirTrstKeyEmplInfoGrp/OfficerDirTrstKeyEmplGrp/PersonNm	0	DANIEL J SULLIVAN III
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IRS990PF/PrivateOperatingFoundationsGrp/QualifyingDistributionsGrp/TotalAmt	0	135110
IRS990PF/PrivateOperatingFoundationsGrp/QualifyingDistributionsGrp/Year1Amt	0	13524
IRS990PF/PrivateOperatingFoundationsGrp/QualifyingDistributionsGrp/Year2Amt	0	33307
IRS990PF/PrivateOperatingFoundationsGrp/QualifyingDistributionsGrp/Year3Amt	0	34058
IRS990PF/PrivateOperatingFoundationsGrp/QualifyingDistriMadeDrtGrp/CurrentYearAmt	0	54221
IRS990PF/PrivateOperatingFoundationsGrp/QualifyingDistriMadeDrtGrp/TotalAmt	0	135110
IRS990PF/PrivateOperatingFoundationsGrp/QualifyingDistriMadeDrtGrp/Year1Amt	0	13524
IRS990PF/PrivateOperatingFoundationsGrp/QualifyingDistriMadeDrtGrp/Year2Amt	0	33307
IRS990PF/PrivateOperatingFoundationsGrp/QualifyingDistriMadeDrtGrp/Year3Amt	0	34058
IRS990PF/PrivateOperatingFoundationsGrp/QualifyingDistriNotUsedDrtGrp/CurrentYearAmt	0	0
IRS990PF/PrivateOperatingFoundationsGrp/QualifyingDistriNotUsedDrtGrp/TotalAmt	0	0
IRS990PF/PrivateOperatingFoundationsGrp/QualifyingDistriNotUsedDrtGrp/Year1Amt	0	0
IRS990PF/PrivateOperatingFoundationsGrp/QualifyingDistriNotUsedDrtGrp/Year2Amt	0	0
IRS990PF/PrivateOperatingFoundationsGrp/QualifyingDistriNotUsedDrtGrp/Year3Amt	0	0
IRS990PF/PrivateOperatingFoundationsGrp/Section4942j3Ind	0	X
IRS990PF/PrivateOperatingFoundationsGrp/TotalAssetsGrp/CurrentYearAmt	0	1156845
IRS990PF/PrivateOperatingFoundationsGrp/TotalAssetsGrp/TotalAmt	0	4921347
IRS990PF/PrivateOperatingFoundationsGrp/TotalAssetsGrp/Year1Amt	0	1287383
IRS990PF/PrivateOperatingFoundationsGrp/TotalAssetsGrp/Year2Amt	0	1225329
IRS990PF/PrivateOperatingFoundationsGrp/TotalAssetsGrp/Year3Amt	0	1251790
IRS990PF/PrivateOperatingFoundationsGrp/TotalAssetsSect4942j3BiGrp/CurrentYearAmt	0	1043829
IRS990PF/PrivateOperatingFoundationsGrp/TotalAssetsSect4942j3BiGrp/TotalAmt	0	4579922
IRS990PF/PrivateOperatingFoundationsGrp/TotalAssetsSect4942j3BiGrp/Year1Amt	0	1129128
IRS990PF/PrivateOperatingFoundationsGrp/TotalAssetsSect4942j3BiGrp/Year2Amt	0	1176087
IRS990PF/PrivateOperatingFoundationsGrp/TotalAssetsSect4942j3BiGrp/Year3Amt	0	1230878
IRS990PF/PrivateOperatingFoundationsGrp/TotalSupportGrp/TotalAmt	0	0
IRS990PF/PrivateOperatingFoundationsGrp/TwoThirdsMinimumInvstRetGrp/CurrentYearAmt	0	4776
IRS990PF/PrivateOperatingFoundationsGrp/TwoThirdsMinimumInvstRetGrp/TotalAmt	0	10328
IRS990PF/PrivateOperatingFoundationsGrp/TwoThirdsMinimumInvstRetGrp/Year1Amt	0	4498
IRS990PF/PrivateOperatingFoundationsGrp/TwoThirdsMinimumInvstRetGrp/Year2Amt	0	568
IRS990PF/PrivateOperatingFoundationsGrp/TwoThirdsMinimumInvstRetGrp/Year3Amt	0	486
IRS990PF/StatementsRegardingActy4720Grp/BrrwOrLendDisqualifiedPrsnInd	0	0
IRS990PF/StatementsRegardingActy4720Grp/BusinessHoldingsInd	0	0
IRS990PF/StatementsRegardingActy4720Grp/FurnGoodsDisqualifiedPrsnInd	0	0
IRS990PF/StatementsRegardingActy4720Grp/GrantsToIndividualsInd	0	0
IRS990PF/StatementsRegardingActy4720Grp/GrantsToOrganizationsInd	0	0
IRS990PF/StatementsRegardingActy4720Grp/InfluenceElectionInd	0	0
IRS990PF/StatementsRegardingActy4720Grp/InfluenceLegislationInd	0	0
IRS990PF/StatementsRegardingActy4720Grp/JeopardyInvestmentsInd	0	0
IRS990PF/StatementsRegardingActy4720Grp/NoncharitablePurposeInd	0	0
IRS990PF/StatementsRegardingActy4720Grp/PayCompDisqualifiedPrsnInd	0	0
IRS990PF/StatementsRegardingActy4720Grp/PaymentToGovernmentOfficialInd	0	0
IRS990PF/StatementsRegardingActy4720Grp/PayPremiumsPrsnlBnftCntrctInd	0	0
IRS990PF/StatementsRegardingActy4720Grp/ProhibitedTaxShelterTransInd	0	0
IRS990PF/StatementsRegardingActy4720Grp/RcvFndsToPayPrsnlBnftCntrctInd	0	0
IRS990PF/StatementsRegardingActy4720Grp/SaleOrExchDisqualifiedPrsnInd	0	0
IRS990PF/StatementsRegardingActy4720Grp/SubjToTaxRmnrtnExPrchtPymtInd	0	0
IRS990PF/StatementsRegardingActy4720Grp/TransferAstDisqualifiedPrsnInd	0	0
IRS990PF/StatementsRegardingActy4720Grp/UncorrectedPriorActsInd	0	0
IRS990PF/StatementsRegardingActy4720Grp/UncorrectedPYJeopardyInvstInd	0	0
IRS990PF/StatementsRegardingActy4720Grp/UndistributedIncomePYInd	0	0
IRS990PF/StatementsRegardingActyGrp/ActivitiesNotPreviouslyRptInd	0	0
IRS990PF/StatementsRegardingActyGrp/AtLeast5000InAssetsInd	0	1
IRS990PF/StatementsRegardingActyGrp/ChangesToArticlesOrBylawsInd	0	0
IRS990PF/StatementsRegardingActyGrp/ComplyWithPublicInspRqrInd	0	1
IRS990PF/StatementsRegardingActyGrp/DonorAdvisedFundInd	0	0
IRS990PF/StatementsRegardingActyGrp/ForeignAccountsQuestionInd	0	0
IRS990PF/StatementsRegardingActyGrp/Form1120POLFiledInd	0	0
IRS990PF/StatementsRegardingActyGrp/Form990PFFiledWithAttyGenInd	0	1
IRS990PF/StatementsRegardingActyGrp/IndividualWithBooksNm	0	DANIEL J SULLIVAN III
IRS990PF/StatementsRegardingActyGrp/LegislativePoliticalActyInd	0	0
IRS990PF/StatementsRegardingActyGrp/LocationOfBooksUSAddress/AddressLine1Txt	0	1245 OAKVIEW ROAD
IRS990PF/StatementsRegardingActyGrp/LocationOfBooksUSAddress/CityNm	0	MEDINA
IRS990PF/StatementsRegardingActyGrp/LocationOfBooksUSAddress/StateAbbreviationCd	0	MN
IRS990PF/StatementsRegardingActyGrp/LocationOfBooksUSAddress/ZIPCd	0	55356
IRS990PF/StatementsRegardingActyGrp/MoreThan100SpentInd	0	0
IRS990PF/StatementsRegardingActyGrp/NewSubstantialContributorsInd	0	0
IRS990PF/StatementsRegardingActyGrp/OrganizationDissolvedEtcInd	0	0
IRS990PF/StatementsRegardingActyGrp/OrgReportOrRegisterStateCd	0	MN
IRS990PF/StatementsRegardingActyGrp/OwnControlledEntityInd	0	0
IRS990PF/StatementsRegardingActyGrp/PhoneNum	0	7634731550
IRS990PF/StatementsRegardingActyGrp/PrivateOperatingFoundationInd	0	1
IRS990PF/StatementsRegardingActyGrp/Section4955ManagersTaxAmt	0	0
IRS990PF/StatementsRegardingActyGrp/Section4955OrganizationTaxAmt	0	0
IRS990PF/StatementsRegardingActyGrp/Section508eRqrSatisfiedInd	0	1
IRS990PF/StatementsRegardingActyGrp/TaxReimbursedAmt	0	0
IRS990PF/StatementsRegardingActyGrp/UnrelatedBusIncmOverLimitInd	0	0
IRS990PF/StatementsRegardingActyGrp/WebsiteAddressTxt	0	N/A
IRS990PF/SummaryOfDirectChrtblActyGrp/Description1Txt	0	DUE TO THE PANDEMIC, THE AIRCRAFT WAS ONLY AVAILABLE FOR TRAINING AND PROFICIENCY FLIGHTS AND SMALL TOURS AT ITS HOME BASE OF ANOKA AIRPORT DURING 2022.
IRS990PF/SummaryOfDirectChrtblActyGrp/Expenses1Amt	0	53901
IRS990PF/SumOfProgramRelatedInvstGrp/AllOtherProgramRltdInvstTotAmt	0	0
IRS990PF/SumOfProgramRelatedInvstGrp/TotalAmt	0	0
IRS990PF/SupplementaryInformationGrp/ContributingManagerNm	0	DANIEL J SULLIVAN III
IRS990PF/SupplementaryInformationGrp/OnlyContriToPreselectedInd	0	X
IRS990PF/SupplementaryInformationGrp/TotalGrantOrContriApprvFutAmt	0	0
IRS990PF/SupplementaryInformationGrp/TotalGrantOrContriPdDurYrAmt	0	0
IRS990PF/TrnsfrTransRlnNonchrtblEOGrp/LoansOrLoanGuaranteesInd	0	0
IRS990PF/TrnsfrTransRlnNonchrtblEOGrp/PerformanceOfServicesEtcInd	0	0
IRS990PF/TrnsfrTransRlnNonchrtblEOGrp/PurchaseOfAssetsNonchrtblEOInd	0	0
IRS990PF/TrnsfrTransRlnNonchrtblEOGrp/ReimbursementArrangementsInd	0	0
IRS990PF/TrnsfrTransRlnNonchrtblEOGrp/RelationshipsNonchrtblEOInd	0	0
IRS990PF/TrnsfrTransRlnNonchrtblEOGrp/RentalOfFacilitiesOthAssetsInd	0	0
IRS990PF/TrnsfrTransRlnNonchrtblEOGrp/SalesOrExchangesOfAssetsInd	0	0
IRS990PF/TrnsfrTransRlnNonchrtblEOGrp/SharingOfFacilitiesEtcInd	0	0
IRS990PF/TrnsfrTransRlnNonchrtblEOGrp/TrnsfrOfCashToNonchrtblEOInd	0	0
IRS990PF/TrnsfrTransRlnNonchrtblEOGrp/TrnsfrOtherAssetNonchrtblEOInd	0	0
IRS990ScheduleB/ContributorInformationGrp/ContributorNum	0	1
IRS990ScheduleB/ContributorInformationGrp/ContributorPersonNm	0	DANIEL J SULLIVAN III
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/AddressLine1Txt	0	1245 OAKVIEW ROAD
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/CityNm	0	MEDINA
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/StateAbbreviationCd	0	MN
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/ZIPCd	0	55356
IRS990ScheduleB/ContributorInformationGrp/PersonContributionInd	0	X
IRS990ScheduleB/ContributorInformationGrp/TotalContributionsAmt	0	8655
IRS990ScheduleB/GeneralRuleInd	0	X
IRS990ScheduleB/Organization501c3ExemptPFInd	0	X
LandEtcSchedule2/LandEtcGrp/AccumulatedDepreciationAmt	0	90000
LandEtcSchedule2/LandEtcGrp/AccumulatedDepreciationAmt	1	463000
LandEtcSchedule2/LandEtcGrp/AccumulatedDepreciationAmt	2	137000
LandEtcSchedule2/LandEtcGrp/AccumulatedDepreciationAmt	3	34259
LandEtcSchedule2/LandEtcGrp/AccumulatedDepreciationAmt	4	1572
LandEtcSchedule2/LandEtcGrp/AccumulatedDepreciationAmt	5	3234
LandEtcSchedule2/LandEtcGrp/AccumulatedDepreciationAmt	6	3297
LandEtcSchedule2/LandEtcGrp/AccumulatedDepreciationAmt	7	13542
LandEtcSchedule2/LandEtcGrp/AccumulatedDepreciationAmt	8	18958
LandEtcSchedule2/LandEtcGrp/AccumulatedDepreciationAmt	9	12000
LandEtcSchedule2/LandEtcGrp/AccumulatedDepreciationAmt	10	11167
LandEtcSchedule2/LandEtcGrp/AccumulatedDepreciationAmt	11	5000
LandEtcSchedule2/LandEtcGrp/BookValueAmt	0	0
LandEtcSchedule2/LandEtcGrp/BookValueAmt	1	187000
LandEtcSchedule2/LandEtcGrp/BookValueAmt	2	13000
LandEtcSchedule2/LandEtcGrp/BookValueAmt	3	0
LandEtcSchedule2/LandEtcGrp/BookValueAmt	4	0
LandEtcSchedule2/LandEtcGrp/BookValueAmt	5	0
LandEtcSchedule2/LandEtcGrp/BookValueAmt	6	0
LandEtcSchedule2/LandEtcGrp/BookValueAmt	7	36458
LandEtcSchedule2/LandEtcGrp/BookValueAmt	8	51042
LandEtcSchedule2/LandEtcGrp/BookValueAmt	9	28000
LandEtcSchedule2/LandEtcGrp/BookValueAmt	10	28833
LandEtcSchedule2/LandEtcGrp/BookValueAmt	11	0
LandEtcSchedule2/LandEtcGrp/CategoryOrItemTxt	0	L-29 JET
LandEtcSchedule2/LandEtcGrp/CategoryOrItemTxt	1	L-39 JET
LandEtcSchedule2/LandEtcGrp/CategoryOrItemTxt	2	MIG-17 JET
LandEtcSchedule2/LandEtcGrp/CategoryOrItemTxt	3	PARTS EJECTION
LandEtcSchedule2/LandEtcGrp/CategoryOrItemTxt	4	TRAILER
LandEtcSchedule2/LandEtcGrp/CategoryOrItemTxt	5	PARACHUTE
LandEtcSchedule2/LandEtcGrp/CategoryOrItemTxt	6	PARACHUTE
LandEtcSchedule2/LandEtcGrp/CategoryOrItemTxt	7	JET REPAIRS
LandEtcSchedule2/LandEtcGrp/CategoryOrItemTxt	8	JET REPAIRS
LandEtcSchedule2/LandEtcGrp/CategoryOrItemTxt	9	JET CAPITALIZED MAINT
LandEtcSchedule2/LandEtcGrp/CategoryOrItemTxt	10	JET CAP MAINT
LandEtcSchedule2/LandEtcGrp/CategoryOrItemTxt	11	PARACHUTE
LandEtcSchedule2/LandEtcGrp/CostOrOtherBasisAmt	0	90000
LandEtcSchedule2/LandEtcGrp/CostOrOtherBasisAmt	1	650000
LandEtcSchedule2/LandEtcGrp/CostOrOtherBasisAmt	2	150000
LandEtcSchedule2/LandEtcGrp/CostOrOtherBasisAmt	3	34259
LandEtcSchedule2/LandEtcGrp/CostOrOtherBasisAmt	4	1572

Document Assets

No mirrored PDF or thumbnail assets are attached yet.

Filings

Displayed year

2022 • Form 990PFDetailed filing. Detailed filing data is available for this year.

Open filing

Assets: $1,156,525
Liabilities: $0
Net assets: $1,156,525
Revenue: $8,662
Expenses: $107,700
Net income: -$99,038

	Balance Sheet			Operations
Year	Assets	Liabilities	Net Assets	Revenue	Expenses	Net Income
2024Detailed filing. Detailed filing data is available for this year.	$1.01	$0.00	$1.01	$0.07	$0.09	$0.02
2023Detailed filing. Detailed filing data is available for this year.	$1.03	$0.00	$1.03	$0.00	$0.13	$0.13
2022Detailed filing. Detailed filing data is available for this year.	$1.16	$0.00	$1.16	$0.01	$0.11	$0.10
2021Detailed filing. Detailed filing data is available for this year.	$1.29	$0.00	$1.29	$0.15	$0.07	$0.09
2020Detailed filing. Detailed filing data is available for this year.	$1.20	$0.00	$1.20	$0.04	$0.09	$0.05
2019Detailed filing. Detailed filing data is available for this year.	$1.25	$0.00	$1.25	$0.04	$0.09	$0.04
2014Summary only. Only limited summary data is available for this year.	$1.29	$0.00		$0.04	$0.07	$0.03
2013Summary only. Only limited summary data is available for this year.	$1.33	$0.00		$0.07	$0.11	$0.04
2012Summary only. Only limited summary data is available for this year.	$1.37	$0.00		$0.29	$0.13	$0.15
2011Summary only. Only limited summary data is available for this year.	$1.35	$0.00		$0.06	$0.05	$0.00
2010Summary only. Only limited summary data is available for this year.	$1.37	$0.00		$0.04	$0.07	$0.02