Civic Intelligence

Believe Foundation

990 • Fiscal year 2021 • EIN 83-0545356

Jan 01, 2021 to Dec 31, 2021 • Filed on Mar 11, 2022

Organization ProfileWWW.THEBELIEVEFOUNDATION.ORG
1907 Wayzata Blvd 180Wayzata, MN 55391

(612) 255-5182

Siviq Scores

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

Liabilities / Assets

68th percentile

0.02x

Higher debt load relative to assets than 68% of similar nonprofits.

2021 filings • 501(c)3 • <$500k nonprofits • Source year 2021

Liabilities / Revenue

70th percentile

0.03x

Higher debt load relative to revenue than 70% of similar nonprofits.

2021 filings • 501(c)3 • <$500k nonprofits • Source year 2021

Net Margin

78th percentile

35%

Higher net margin than 78% of similar nonprofits.

2021 filings • 501(c)3 • <$500k nonprofits • Source year 2021

Top Officer Pay

77th percentile

$0

Higher top officer pay than 77% of similar nonprofits.

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

2021 filings • 501(c)3 • <$500k nonprofits • Source year 2021

Asset Growth

68th percentile

24%

Faster asset growth than 68% of similar nonprofits.

2021 filings • 501(c)3 • <$500k nonprofits • Annualized from 2020 to 2021

Revenue Growth

44th percentile

-2.6%

Faster revenue growth than 44% of similar nonprofits.

2021 filings • 501(c)3 • <$500k nonprofits • Annualized from 2020 to 2021

Balance Sheet
Liabilities / Assets68th percentile

Assets

Up

$432,247

Up $82,372 (+24%) from 2020

Net Assets

Up

$423,311

Up $73,436 (+21%) from 2020

Liabilities

Up

$8,936

Up $8,936 from 2020

Revenue And Expenses
Liabilities / Revenue70th percentileNet Margin78th percentile

Revenue

Down

$327,896

Down $8,751 (-2.6%) from 2020

Expenses

Up

$212,209

Up $65,419 (+45%) from 2020

Net Income

Down

$115,687

Down $74,170 (-39%) from 2020

Historical Trend

Balance Sheet Trend

Asset Growth68th percentile

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

$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

2021

Assets$432,247
Liabilities$8,936
Net Assets$423,311
Open 2021 Filing

Operations Trend

Revenue Growth44th percentile

Revenue, expenses, and net income across loaded years, with this 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

2021

Revenue$327,896
Expenses$212,209
Net Income$115,687
Open 2021 Filing
Jump To
Filing Snapshot
Filing Period
Jan 1, 2021 to Dec 31, 2021
Signed
Mar 11, 2022
Return Version
2021v4.1
Gross Receipts
$327,896
Mission and Program Overview

Mission

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.

Provide financial support to grieving families after the death of their child and provide grief therapy resources

Balance Sheet Detail
LineBeginningEndChange
Assets
Rtn Earn Endowment Incm Other Fnds$349,875$423,311▲ $73,436
Investments in Publicly Traded Securities-$323,788-
Cash and Non-Interest-Bearing Accounts$349,875$106,273▼ $243,602
Accounts Receivable-$2,186-
Pd in Cap Srpls Land Bldg Eqp Fund$0$0→ $0
Cap Stk Tr Prin Current Funds$0$0→ $0
Total Assets$349,875$432,247▲ $82,372
Liabilities
Accounts Payable and Accrued Expenses-$8,936-
Total Liabilities$0$8,936▲ $8,936
Net Assets / Fund Balance
Total Net Assets Fund Balance$349,875$423,311▲ $73,436
Total Liabilities and Net Assets / Fund Balance$349,875$432,247▲ $82,372
Compensation and Service Providers
Top Officer Pay77th percentile

Board Members and Trustees

NameTitle
Clark GassenChair
Greg SouleDirector
John RossDirector
Kelly McdyreDirector
Kurt VickmanDirector
Michael HaagDirector
Angie HatcherExec Director/secretary
Ashok DhariwalTreasurer
Revenue and Support

Revenue Composition

Contributions and Grants
$327,896
Program Service Revenue
$0
Investment Income
$0
Other Revenue
$0
All Other Contributions
$327,896
Change in Net Assets
$115,687
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Grants and Similar Amounts Paid$177,938
Other Expenses$34,271
Professional Fundraising Fees$0
Salaries, Compensation, and Employee Benefits$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Grants to Domestic Individuals$177,938--$177,938
Advertising-$20,631-$20,631
Information Technology-$4,750-$4,750
Other Expenses-$4,260-$4,260
Insurance-$2,510-$2,510
Fees for Services Accounting-$2,120-$2,120
Total Functional Expenses$177,938$34,271$0$212,209
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 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 executive director then reviews the form 990 for accuracy. The form is then distributed to the board and any comments on the form are discussed prior to the filing of the form.”

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 B, Line 15

“We conducted an executive director annual review at our last board meeting in december 2021. This is reflected in our meeting minutes.”

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”

Form 990, Part VIII, Line 1F

“The founders, the gassen family, covers all administrative costs of the believe foundation. Clark gassen reimburses the foundation each quarter for non-gifting administrative costs. This is reflected in contributions and reported on schedule b with clark gassen's contributions.”

Filing and Contact Details

Filer

Filer Name
Believe Foundation
EIN
83-0545356
Phone
6122555182
Address
1907 WAYZATA BLVD 180, WAYZATA, MN 55391

Signing Officer

Name
Clark Gassen
Title
President/director
Phone
6122555182
Signed
2022-03-11
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Clark Gassen
Formed
2018
Legal Domicile
Mn
Voting Board Members
7
Independent Board Members
7
Employees
0
Volunteers
7

Preparer

Firm
Cliftonlarsonallen Llp
Address
220 S 6TH STREET SUITE 300, MINNEAPOLIS, MN 55402
Preparer
Ann Neil
Phone
6123764500
Raw XML Appendix348 raw XML fields

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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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/ExplanationTxt0THE FOUNDATION DOES NOT HAVE A COMMITTEE THAT ACTS ON BEHALF OF THE BOARD OF DIRECTORS.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1THE FORM 990 IS PREPARED BY A PROFESSIONAL ACCOUNTING FIRM FROM INFORMATION PROVIDED BY BELIEVE FOUNDATION. THE EXECUTIVE DIRECTOR THEN REVIEWS THE FORM 990 FOR ACCURACY. THE FORM IS THEN DISTRIBUTED TO THE BOARD AND ANY COMMENTS ON THE FORM ARE DISCUSSED PRIOR TO THE FILING OF THE FORM.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2THE 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/ExplanationTxt3WE CONDUCTED AN EXECUTIVE DIRECTOR ANNUAL REVIEW AT OUR LAST BOARD MEETING IN DECEMBER 2021. THIS IS REFLECTED IN OUR MEETING MINUTES.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt4THE BELIEVE FOUNDATION'S GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICY, AND FINANCIAL STATEMENTS ARE AVAILABLE TO THE PUBLIC UPON REQUEST
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt5THE FOUNDERS, THE GASSEN FAMILY, COVERS ALL ADMINISTRATIVE COSTS OF THE BELIEVE FOUNDATION. CLARK GASSEN REIMBURSES THE FOUNDATION EACH QUARTER FOR NON-GIFTING ADMINISTRATIVE COSTS. THIS IS REFLECTED IN CONTRIBUTIONS AND REPORTED ON SCHEDULE B WITH CLARK GASSEN'S CONTRIBUTIONS.
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0FORM 990, PART VI, SECTION A, LINE 8B
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1FORM 990, PART VI, SECTION B, LINE 11B
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2FORM 990, PART VI, SECTION B, LINE 12C
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3FORM 990, PART VI, SECTION B, LINE 15
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc4FORM 990, PART VI, SECTION C, LINE 19
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc5FORM 990, PART VIII, LINE 1F
IRS990/SchoolOperatingInd00
IRS990/SignificantChangeInd00
IRS990/SignificantNewProgramSrvcInd00
IRS990/StatesWhereCopyOfReturnIsFldCd0MN
IRS990/SubjectToExcsTaxNetInvstIncInd00
IRS990/SubjectToProxyTaxInd00
IRS990/SubjToTaxRmnrtnExPrchtPymtInd00
IRS990/TaxablePartyNotificationInd00
IRS990/TaxExemptBondsInd00
IRS990/TerminateOperationsInd00
IRS990/TotalAssetsBOYAmt0349875
IRS990/TotalAssetsEOYAmt0432247
IRS990/TotalAssetsGrp/BOYAmt0349875
IRS990/TotalAssetsGrp/EOYAmt0432247
IRS990/TotalCompGreaterThan150KInd00
IRS990/TotalContributionsAmt0327896
IRS990/TotalEmployeeCnt00
IRS990/TotalFunctionalExpensesGrp/FundraisingAmt00
IRS990/TotalFunctionalExpensesGrp/ManagementAndGeneralAmt034271
IRS990/TotalFunctionalExpensesGrp/ProgramServicesAmt0177938
IRS990/TotalFunctionalExpensesGrp/TotalAmt0212209
IRS990/TotalGrossUBIAmt00
IRS990/TotalLiabilitiesBOYAmt00
IRS990/TotalLiabilitiesEOYAmt08936
IRS990/TotalLiabilitiesGrp/BOYAmt00
IRS990/TotalLiabilitiesGrp/EOYAmt08936
IRS990/TotalNetAssetsFundBalanceGrp/BOYAmt0349875
IRS990/TotalNetAssetsFundBalanceGrp/EOYAmt0423311
IRS990/TotalOtherCompensationAmt00
IRS990/TotalProgramServiceExpensesAmt0177938
IRS990/TotalReportableCompFromOrgAmt00
IRS990/TotalRevenueGrp/ExclusionAmt00
IRS990/TotalRevenueGrp/RelatedOrExemptFuncIncomeAmt00
IRS990/TotalRevenueGrp/TotalRevenueColumnAmt0327896
IRS990/TotalRevenueGrp/UnrelatedBusinessRevenueAmt00
IRS990/TotalVolunteersCnt07
IRS990/TotLiabNetAssetsFundBalanceGrp/BOYAmt0349875
IRS990/TotLiabNetAssetsFundBalanceGrp/EOYAmt0432247
IRS990/TotReportableCompRltdOrgAmt00
IRS990/TrnsfrExmptNonChrtblRltdOrgInd00
IRS990/TypeOfOrganizationCorpInd0X
IRS990/UnrelatedBusIncmOverLimitInd00
IRS990/UponRequestInd0X
IRS990/USAddress/AddressLine1Txt01907 WAYZATA BLVD 180
IRS990/USAddress/CityNm0WAYZATA
IRS990/USAddress/StateAbbreviationCd0MN
IRS990/USAddress/ZIPCd055391
IRS990/VotingMembersGoverningBodyCnt07
IRS990/VotingMembersIndependentCnt07
IRS990/WebsiteAddressTxt0WWW.THEBELIEVEFOUNDATION.ORG
IRS990/WhistleblowerPolicyInd01
ReturnHeader/AdditionalFilerInformation/TrustedCustomerGrp/AuthenticationAssuranceLevelCd0AAL1
ReturnHeader/AdditionalFilerInformation/TrustedCustomerGrp/IdentityAssuranceLevelCd0IAL1
ReturnHeader/AdditionalFilerInformation/TrustedCustomerGrp/TrustedCustomerCd03
ReturnHeader/BuildTS02022-09-23 18:48:47Z
ReturnHeader/BusinessOfficerGrp/DiscussWithPaidPreparerInd01
ReturnHeader/BusinessOfficerGrp/PersonNm0CLARK GASSEN
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0PRESIDENT/DIRECTOR
ReturnHeader/BusinessOfficerGrp/PhoneNum06122555182
ReturnHeader/BusinessOfficerGrp/SignatureDt02022-03-11
ReturnHeader/Filer/BusinessName/BusinessNameLine1Txt0BELIEVE FOUNDATION
ReturnHeader/Filer/BusinessNameControlTxt0BELI
ReturnHeader/Filer/EIN0830545356
ReturnHeader/Filer/PhoneNum06122555182
ReturnHeader/Filer/USAddress/AddressLine1Txt01907 WAYZATA BLVD 180
ReturnHeader/Filer/USAddress/CityNm0WAYZATA
ReturnHeader/Filer/USAddress/StateAbbreviationCd0MN
ReturnHeader/Filer/USAddress/ZIPCd055391
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/PreparationDt02022-03-11
ReturnHeader/PreparerPersonGrp/PreparerPersonNm0ANN NEIL
ReturnHeader/ReturnTs02022-04-08T05:41:50-05:00
ReturnHeader/ReturnTypeCd0990
ReturnHeader/SigningOfficerGrp/PersonFullName/PersonFirstNm0CLARK
ReturnHeader/SigningOfficerGrp/PersonFullName/PersonLastNm0GASSEN
ReturnHeader/TaxPeriodBeginDt02021-01-01
ReturnHeader/TaxPeriodEndDt02021-12-31
ReturnHeader/TaxYr02021

Document Assets

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Filings

Displayed year

2021 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$432,247
Liabilities
$8,936
Net assets
$423,311
Revenue
$327,896
Expenses
$212,209
Net income
$115,687
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