Civic Intelligence

Believe Foundation

EIN 83-0545356 • 501(c)3 • Wayzata, MN

Profile

The believe foundation helps grieving families in minnesota facing hardship after the death of their child by providing immediate and practical financial assistance and partnering with other organizations to offer ongoing emotional support and healing.

415 Lake Street EastWayzata, MN 55391

www.thebelievefoundation.org

Siviq Scores

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

Liabilities / Assets

29th percentile

0.01x

Higher debt load relative to assets than 29% of similar nonprofits.

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

Liabilities / Revenue

30th percentile

0.01x

Higher debt load relative to revenue than 30% of similar nonprofits.

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

Net Margin

79th percentile

28%

Higher net margin than 79% of similar nonprofits.

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

Top Officer Pay

Score unavailable

No value available

No filing with officer rows is available for this organization yet.

Asset Growth

81st percentile

24%

Faster asset growth than 81% of similar nonprofits.

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

Revenue Growth

18th percentile

-14%

Faster revenue growth than 18% of similar nonprofits.

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

Balance Sheet
Liabilities / Assets29th percentile

Assets

Up

$1,060,637

Up $203,326 (+24%) from 2023

Liabilities

Down

$7,015

Down $18,441 (-72%) from 2023

Net Assets

Up

$1,053,622

Up $221,767 (+27%) from 2023

Operations
Liabilities / Revenue30th percentileNet Margin79th percentile

Revenue

Down

$532,986

Down $85,720 (-14%) from 2023

Expenses

Up

$385,320

Up $3,267 (+0.9%) from 2023

Net Income

Down

$147,666

Down $88,987 (-38%) from 2023

Trend Graphs

Balance Sheet Trend

Asset Growth81st percentile

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

$1.5M$1.0M$500K$0Assets 2018: $5,000Liabilities 2018: $02018Assets 2019: $169,210Liabilities 2019: $9,192Net Assets 2019: $160,0182019Assets 2020: $349,875Liabilities 2020: $0Net Assets 2020: $349,8752020Assets 2021: $432,247Liabilities 2021: $8,936Net Assets 2021: $423,3112021Assets 2022: $550,685Liabilities 2022: $11,969Net Assets 2022: $538,7162022Assets 2023: $857,311Liabilities 2023: $25,456Net Assets 2023: $831,8552023Assets 2024: $1,060,637Liabilities 2024: $7,015Net Assets 2024: $1,053,6222024

Highlighted filing

2024

Assets$1,060,637
Liabilities$7,015
Net Assets$1,053,622
Open 2024 Filing

Operations Trend

Revenue Growth18th percentile

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

$800K$600K$400K$200K$0Revenue 2018: $27,221Expenses 2018: $22,221Net Income 2018: $5,0002018Revenue 2019: $282,408Expenses 2019: $127,390Net Income 2019: $155,0182019Revenue 2020: $336,647Expenses 2020: $146,790Net Income 2020: $189,8572020Revenue 2021: $327,896Expenses 2021: $212,209Net Income 2021: $115,6872021Revenue 2022: $537,794Expenses 2022: $353,249Net Income 2022: $184,5452022Revenue 2023: $618,706Expenses 2023: $382,053Net Income 2023: $236,6532023Revenue 2024: $532,986Expenses 2024: $385,320Net Income 2024: $147,6662024

Highlighted filing

2024

Revenue$532,986
Expenses$385,320
Net Income$147,666
Open 2024 Filing

Filings

Most recent year

2024 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$1,060,637
Liabilities
$7,015
Net assets
$1,053,622
Revenue
$532,986
Expenses
$385,320
Net income
$147,666
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Detailed filing. Detailed filing data is available for this year.$1.06$0.01$1.05$0.53$0.39$0.15
2023Detailed filing. Detailed filing data is available for this year.$0.86$0.03$0.83$0.62$0.38$0.24
2022Detailed filing. Detailed filing data is available for this year.$0.55$0.01$0.54$0.54$0.35$0.18
2021Detailed filing. Detailed filing data is available for this year.$0.43$0.01$0.42$0.33$0.21$0.12
2020Detailed filing. Detailed filing data is available for this year.$0.35$0.00$0.35$0.34$0.15$0.19
2019Detailed filing. Detailed filing data is available for this year.$0.17$0.01$0.16$0.28$0.13$0.16
2018Summary only. Only limited summary data is available for this year.$0.01$0.00$0.03$0.02$0.01
Latest Filing Detail
Jump To
Filing Snapshot
Filing Period
Jan 1, 2024 to Dec 31, 2024
Signed
Jun 2, 2025
Return Version
2024v5.1
Gross Receipts
$532,986
Mission and Program Overview

Mission

The believe foundation helps people in minnesota begin the process of rebuilding after the death of their child by providing immediate, practical, financial support and empowering other organizations who share our commitment to helping families and individuals see their way forward.

The believe foundation provides financial support and ongoing grief support resources to grieving families in mn facing hardship after the death of their child.

Balance Sheet Detail
LineBeginningEndChange
Assets
Rtn Earn Endowment Incm Other Fnds$831,855$1,053,622▲ $221,767
Savings and Temporary Cash Investments$478,066$648,661▲ $170,595
Investments in Publicly Traded Securities$311,134$385,235▲ $74,101
Land, Buildings, and Equipment, Net$15,800$15,800→ $0
Cash and Non-Interest-Bearing Accounts$50,474$10,941▼ $39,533
Accounts Receivable$1,837$0▼ $1,837
Pledges and Grants Receivable-$0-
Pd in Cap Srpls Land Bldg Eqp Fund$0$0→ $0
Cap Stk Tr Prin Current Funds$0$0→ $0
Total Assets$857,311$1,060,637▲ $203,326
Liabilities
Accounts Payable and Accrued Expenses$25,456$7,015▼ $18,441
Total Liabilities$25,456$7,015▼ $18,441
Net Assets / Fund Balance
Total Net Assets Fund Balance$831,855$1,053,622▲ $221,767
Total Liabilities and Net Assets / Fund Balance$857,311$1,060,637▲ $203,326

Asset Categories

AssetBook ValueDepreciationBasis
Land$15,800-$15,800
Compensation and Service Providers
Top Officer PayScore unavailable

Board Members and Trustees

NameTitle
Clark GassenPresident/chair
David GigerichDirector
Greg SouleDirector
Kelly McdyreDirector
Kevin WrightDirector
Kurt VickmanDirector
Matt GassenDirector
Angela HatcherExec Director/secretary
Ashok DhariwalTreasurer
Revenue and Support

Revenue Composition

Contributions and Grants
$507,390
Program Service Revenue
$0
Investment Income
$25,596
Other Revenue
$0
All Other Contributions
$507,390
Change in Net Assets
$147,666
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Grants and Similar Amounts Paid$344,885
Other Expenses$40,435
Professional Fundraising Fees$0
Salaries, Compensation, and Employee Benefits$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Grants to Domestic Individuals$344,885--$344,885
Advertising-$18,836-$18,836
Other Expenses-$6,495-$6,495
Information Technology-$4,909-$4,909
Fees for Services Legal-$4,260-$4,260
Insurance-$2,657-$2,657
Fees for Services Accounting-$2,290-$2,290
Office Expenses-$988-$988
Total Functional Expenses$344,885$40,435$0$385,320
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
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
Yes
Backup withholding compliance
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
No
Key decisions subject to board approval
No
Management duties delegated
No

Governance Explanations

Form 990, Part VI, Section A, Line 2

“There is a family relationship between matt gassen and clark gassen.”

Form 990, Part VI, Section A, Line 8B

“The foundation does not have a committee that acts on behalf of the board of directors.”

Form 990, Part VI, Section B, Line 11B

“The form 990 is prepared by a professional accounting firm from information provided by believe foundation. The form is distributed to the board and and approved before filing with the irs.”

Form 990, Part VI, Section B, Line 12C

“The conflict of interest policy covers any director, officer, employee or member of a committee with board delegated powers. Potential conflicts are reviewed at quarterly board meetings. The board of directors decides if conflicts of interest exist. If a conflict exists, the person is not allowed to vote on the issue. All proceedings related to conflicts of interest are documented in the meeting minutes in detail.”

Form 990, Part VI, Section C, Line 19

“The believe foundation's governing documents, conflict of interest policy, and financial statements are available to the public upon request.”

Filing and Contact Details

Filer

Filer Name
Believe Foundation
EIN
83-0545356
Phone
6124282100
Address
415 LAKE STREET EAST, WAYZATA, MN 55391

Signing Officer

Name
Clark Gassen
Title
President/founder
Phone
6124282100
Signed
2025-06-02
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Clark Gassen
Formed
2018
Legal Domicile
Mn
Voting Board Members
8
Independent Board Members
8
Employees
0
Volunteers
8

Preparer

Firm
Cliftonlarsonallen Llp
Address
220 S 6TH STREET SUITE 300, MINNEAPOLIS, MN 55402
Preparer
Ann Neil
Phone
6123764500
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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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IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearMinus2YearsAmt0521946
IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearMinus3YearsAmt0327896
IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearMinus4YearsAmt0336647
IRS990ScheduleA/TotalCalendarYear170Grp/TotalAmt02299520
IRS990ScheduleA/TotalSupportAmt02338230
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IRS990ScheduleD/TotalBookValueLandBuildingsAmt015800
IRS990ScheduleI/GrantRecordsMaintainedInd01
IRS990ScheduleI/GrantsOtherAsstToIndivInUSGrp/CashGrantAmt0344885
IRS990ScheduleI/GrantsOtherAsstToIndivInUSGrp/GrantTypeTxt0FINANCIAL ASSISTANCE
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IRS990ScheduleI/GrantsOtherAsstToIndivInUSGrp/RecipientCnt0157
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IRS990ScheduleI/SupplementalInformationDetail/ExplanationTxt0ALL INCOME AND EXPENSES ARE TRACKED USING RENT MANAGER SOFTWARE. THIS INFORMATION IS REVIEWED WITH THE BOARD OF DIRECTORS AT EACH QUARTERLY BOARD MEETING.
IRS990ScheduleI/SupplementalInformationDetail/FormAndLineReferenceDesc0PART I, LINE 2:
IRS990/ScheduleJRequiredInd00
IRS990/ScheduleORequiredInd01
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0THERE IS A FAMILY RELATIONSHIP BETWEEN MATT GASSEN AND CLARK GASSEN.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1THE FOUNDATION DOES NOT HAVE A COMMITTEE THAT ACTS ON BEHALF OF THE BOARD OF DIRECTORS.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2THE FORM 990 IS PREPARED BY A PROFESSIONAL ACCOUNTING FIRM FROM INFORMATION PROVIDED BY BELIEVE FOUNDATION. THE FORM IS DISTRIBUTED TO THE BOARD AND AND APPROVED BEFORE FILING WITH THE IRS.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3THE CONFLICT OF INTEREST POLICY COVERS ANY DIRECTOR, OFFICER, EMPLOYEE OR MEMBER OF A COMMITTEE WITH BOARD DELEGATED POWERS. POTENTIAL CONFLICTS ARE REVIEWED AT QUARTERLY BOARD MEETINGS. THE BOARD OF DIRECTORS DECIDES IF CONFLICTS OF INTEREST EXIST. IF A CONFLICT EXISTS, THE PERSON IS NOT ALLOWED TO VOTE ON THE ISSUE. ALL PROCEEDINGS RELATED TO CONFLICTS OF INTEREST ARE DOCUMENTED IN THE MEETING MINUTES IN DETAIL.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt4THE BELIEVE FOUNDATION'S GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICY, AND FINANCIAL STATEMENTS ARE AVAILABLE TO THE PUBLIC UPON REQUEST.
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0FORM 990, PART VI, SECTION A, LINE 2
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1FORM 990, PART VI, SECTION A, LINE 8B
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2FORM 990, PART VI, SECTION B, LINE 11B
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3FORM 990, PART VI, SECTION B, LINE 12C
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc4FORM 990, PART VI, SECTION C, LINE 19
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IRS990/SubjToTaxRmnrtnExPrchtPymtInd00
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IRS990/TaxExemptBondsInd00
IRS990/TerminateOperationsInd00
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IRS990/TotalContributionsAmt0507390
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IRS990/TotalFunctionalExpensesGrp/ManagementAndGeneralAmt040435
IRS990/TotalFunctionalExpensesGrp/ProgramServicesAmt0344885
IRS990/TotalFunctionalExpensesGrp/TotalAmt0385320
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IRS990/TotalLiabilitiesBOYAmt025456
IRS990/TotalLiabilitiesEOYAmt07015
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IRS990/TotalOtherCompensationAmt00
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IRS990/TotalReportableCompFromOrgAmt00
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IRS990/TotalRevenueGrp/RelatedOrExemptFuncIncomeAmt00
IRS990/TotalRevenueGrp/TotalRevenueColumnAmt0532986
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IRS990/TotalVolunteersCnt08
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IRS990/WebsiteAddressTxt0WWW.THEBELIEVEFOUNDATION.ORG
IRS990/WhistleblowerPolicyInd01
ReturnHeader/BuildTS02025-03-06 01:10:19Z
ReturnHeader/BusinessOfficerGrp/DiscussWithPaidPreparerInd01
ReturnHeader/BusinessOfficerGrp/PersonNm0CLARK GASSEN
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0PRESIDENT/FOUNDER
ReturnHeader/BusinessOfficerGrp/PhoneNum06124282100
ReturnHeader/BusinessOfficerGrp/SignatureDt02025-06-02
ReturnHeader/Filer/BusinessName/BusinessNameLine1Txt0BELIEVE FOUNDATION
ReturnHeader/Filer/BusinessNameControlTxt0BELI
ReturnHeader/Filer/EIN0830545356
ReturnHeader/Filer/PhoneNum06124282100
ReturnHeader/Filer/USAddress/AddressLine1Txt0415 LAKE STREET EAST
ReturnHeader/Filer/USAddress/CityNm0WAYZATA
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ReturnHeader/PreparerFirmGrp/PreparerFirmEIN0410746749
ReturnHeader/PreparerFirmGrp/PreparerFirmName/BusinessNameLine1Txt0CLIFTONLARSONALLEN LLP
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/AddressLine1Txt0220 S 6TH STREET SUITE 300
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/CityNm0MINNEAPOLIS
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/StateAbbreviationCd0MN
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/ZIPCd055402
ReturnHeader/PreparerPersonGrp/PhoneNum06123764500
ReturnHeader/PreparerPersonGrp/PreparationDt02025-06-02
ReturnHeader/PreparerPersonGrp/PreparerPersonNm0ANN NEIL
ReturnHeader/ReturnTs02025-06-03T09:44:59-05:00
ReturnHeader/ReturnTypeCd0990
ReturnHeader/TaxPeriodBeginDt02024-01-01
ReturnHeader/TaxPeriodEndDt02024-12-31
ReturnHeader/TaxYr02024

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