Civic Intelligence

Foundation X

EIN 87-1331226 • 501(c)3 • Minneapolis, MN

Pub. 78 Eligible

Profile

To achieve a greater good for all through effective philanthropy that advances long-term and sustainable community change.

225 South Sixth St 1400Minneapolis, MN 55402

foundation-x.org

Siviq Scores

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

Liabilities / Assets

60th percentile

0.00x

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

501(c)3 • <$500k nonprofits • Source year 2024

Liabilities / Revenue

62nd percentile

0.00x

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

501(c)3 • <$500k nonprofits • Source year 2024

Net Margin

81st percentile

30%

Higher net margin than 81% of similar nonprofits.

501(c)3 • <$500k nonprofits • Source year 2024

Top Officer Pay

81st percentile

$0

Higher top officer pay than 81% of similar nonprofits.

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

501(c)3 • <$500k nonprofits • Source year 2024

Asset Growth

99th percentile

889%

Faster asset growth than 99% of similar nonprofits.

501(c)3 • <$500k nonprofits • Annualized from 2023 to 2024

Revenue Growth

91st percentile

102%

Faster revenue growth than 91% of similar nonprofits.

501(c)3 • <$500k nonprofits • Annualized from 2023 to 2024

Balance Sheet
Liabilities / Assets60th percentile

Assets

Up

$146,002

Up $131,236 (+889%) from 2023

Liabilities

Flat

$0

Flat from 2023

Net Assets

Up

$146,002

Up $131,236 (+889%) from 2023

Operations
Liabilities / Revenue62nd percentileNet Margin81st percentile

Revenue

Up

$436,443

Up $220,562 (+102%) from 2023

Expenses

Up

$305,892

Up $71,132 (+30%) from 2023

Net Income

Up

$130,551

Up $149,430 (+792%) from 2023

Trend Graphs

Balance Sheet Trend

Asset Growth99th percentile

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

$150K$100K$50K$0Assets 2021: $87,588Liabilities 2021: $0Net Assets 2021: $87,5882021Assets 2022: $34,325Liabilities 2022: $0Net Assets 2022: $34,3252022Assets 2023: $14,766Liabilities 2023: $0Net Assets 2023: $14,7662023Assets 2024: $146,002Liabilities 2024: $0Net Assets 2024: $146,0022024

Highlighted filing

2024

Assets$146,002
Liabilities$0
Net Assets$146,002
Open 2024 Filing

Operations Trend

Revenue Growth91st percentile

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

$600K$400K$200K$0-$200KRevenue 2021: $208,885Expenses 2021: $120,073Net Income 2021: $88,8122021Revenue 2022: -$1,717Expenses 2022: $49,981Net Income 2022: -$51,6982022Revenue 2023: $215,881Expenses 2023: $234,760Net Income 2023: -$18,8792023Revenue 2024: $436,443Expenses 2024: $305,892Net Income 2024: $130,5512024

Highlighted filing

2024

Revenue$436,443
Expenses$305,892
Net Income$130,551
Open 2024 Filing

Filings

Most recent year

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

Open filing
Assets
$146,002
Liabilities
$0
Net assets
$146,002
Revenue
$436,443
Expenses
$305,892
Net income
$130,551
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Detailed filing. Detailed filing data is available for this year.$1.46$0.00$1.46$4.36$3.06$1.31
2023Detailed filing. Detailed filing data is available for this year.$0.15$0.00$0.15$2.16$2.35$0.19
2022Detailed filing. Detailed filing data is available for this year.$0.34$0.00$0.34$0.02$0.50$0.52
2021Detailed filing. Detailed filing data is available for this year.$0.88$0.00$0.88$2.09$1.20$0.89
Latest Filing Detail
Jump To
Filing Snapshot
Filing Period
Jan 1, 2024 to Dec 31, 2024
Signed
Nov 13, 2025
Return Version
2024v5.2
Gross Receipts
$451,968
Mission and Program Overview

Mission

To achieve a greater good for all through effective philanthropy that advances long-term and sustainable community change.

Balance Sheet Detail
LineBeginningEndChange
Assets
Rtn Earn Endowment Incm Other Fnds$14,766$146,002▲ $131,236
Investments in Publicly Traded Securities$7,101$115,053▲ $107,952
Savings and Temporary Cash Investments$7,665$30,949▲ $23,284
Pd in Cap Srpls Land Bldg Eqp Fund$0$0→ $0
Cap Stk Tr Prin Current Funds$0$0→ $0
Total Assets$14,766$146,002▲ $131,236
Liabilities
Total Liabilities$0$0→ $0
Net Assets / Fund Balance
Total Net Assets Fund Balance$14,766$146,002▲ $131,236
Total Liabilities and Net Assets / Fund Balance$14,766$146,002▲ $131,236
Compensation and Service Providers
Top Officer Pay81st percentile

Board Members and Trustees

NameTitle
Rob NelsonPresident
Sean BaenenVice President
Todd MoserDirector
Ward ArmstrongDirector
Emily VennerstromSecretary & Exec Director
Revenue and Support

Revenue Composition

Contributions and Grants
$435,702
Program Service Revenue
$0
Investment Income
$741
Other Revenue
$0
All Other Contributions
$435,702
Change in Net Assets
$130,551
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Grants and Similar Amounts Paid$300,912
Other Expenses$4,980
Professional Fundraising Fees$0
Salaries, Compensation, and Employee Benefits$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Grants to Domestic Orgs$300,912--$300,912
Insurance-$1,935-$1,935
Advertising-$1,288-$1,288
Information Technology-$960-$960
Other Expenses-$647-$647
Fees for Services Legal-$150-$150
Total Functional Expenses$300,912$4,980$0$305,892
International Activity

Grant and Assistance Recipients

RecipientLocationCategoryPurposeAmount
The Mcdonough InstituteWashington, DC501(c)(3)General Purposes$210,000
Bright Funds FoundationSan Jose, CA501(c)(3)General Purposes$33,764
Foster LoveBrea, CA501(c)(3)General Purposes$18,532
MatterMinneapolis, MN501(c)(3)General Purposes$9,750
Wildflyer CoffeeMinneapolis, MN501(c)(3)General Purposes$7,803
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
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

“Rob nelson, sean baenen, todd moser, and emily vennerstrom are all employed by the same organization.”

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

“A copy of the completed return will be provided to all board members upon completion but after filing.”

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

“Policy is available at meetings and any potential conflicts are disclosed as they may occur.”

Form 990, Part VI, Section C, Line 19

“All documents are available to the public upon request”

Filing and Contact Details

Filer

Filer Name
Foundation X
EIN
87-1331226
Phone
6123678800
Address
225 SOUTH SIXTH ST 1400, MINNEAPOLIS, MN 55402

Signing Officer

Name
Emily Vennerstrom
Title
Executive Director
Phone
6123678800
Signed
2025-11-13
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Emily Vennerstrom
Formed
2021
Legal Domicile
Mn
Voting Board Members
5
Independent Board Members
1
Employees
0
Volunteers
0

Preparer

Firm
Northrock Partners Tax Services LLC
Address
225 SOUTH 6TH STREET SUITE 1400, MINNEAPOLIS, MN 55402
Preparer
Sarah Rushford
Phone
6123678800
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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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IRS990ScheduleI/RecipientTable/USAddress/ZIPCd355426
IRS990ScheduleI/RecipientTable/USAddress/ZIPCd455406
IRS990ScheduleI/SupplementalInformationDetail/ExplanationTxt0FINAL REPORTS ARE REQUESTED ONE YEAR AFTER THE GRANT WAS MADE TO REPORT ON HOW THE MONEY WAS SPENT. ALSO MAINTAIN REGULAR COMMUNICATION WITH THE GRANTEES TO MAINTAIN THE RELATIONSHIP AND RECEIVE ONGOING UPDATES.
IRS990ScheduleI/SupplementalInformationDetail/FormAndLineReferenceDesc0PART I, LINE 2:
IRS990ScheduleI/Total501c3OrgCnt05
IRS990ScheduleI/TotalOtherOrgCnt00
IRS990/ScheduleJRequiredInd00
IRS990/ScheduleORequiredInd01
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0ROB NELSON, SEAN BAENEN, TODD MOSER, AND EMILY VENNERSTROM ARE ALL EMPLOYED BY THE SAME ORGANIZATION.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1A COPY OF THE COMPLETED RETURN WILL BE PROVIDED TO ALL BOARD MEMBERS UPON COMPLETION BUT AFTER FILING.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2POLICY IS AVAILABLE AT MEETINGS AND ANY POTENTIAL CONFLICTS ARE DISCLOSED AS THEY MAY OCCUR.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3ALL DOCUMENTS ARE AVAILABLE TO THE PUBLIC UPON REQUEST
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0FORM 990, PART VI, SECTION A, LINE 2
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 C, LINE 19
IRS990/SchoolOperatingInd00
IRS990/SignificantChangeInd00
IRS990/SignificantNewProgramSrvcInd00
IRS990/StatesWhereCopyOfReturnIsFldCd0MN
IRS990/SubjectToExcsTaxNetInvstIncInd00
IRS990/SubjectToProxyTaxInd00
IRS990/SubjToTaxRmnrtnExPrchtPymtInd00
IRS990/TaxablePartyNotificationInd00
IRS990/TaxExemptBondsInd00
IRS990/TerminateOperationsInd00
IRS990/TotalAssetsBOYAmt014766
IRS990/TotalAssetsEOYAmt0146002
IRS990/TotalAssetsGrp/BOYAmt014766
IRS990/TotalAssetsGrp/EOYAmt0146002
IRS990/TotalCompGreaterThan150KInd00
IRS990/TotalContributionsAmt0435702
IRS990/TotalEmployeeCnt00
IRS990/TotalFunctionalExpensesGrp/FundraisingAmt00
IRS990/TotalFunctionalExpensesGrp/ManagementAndGeneralAmt04980
IRS990/TotalFunctionalExpensesGrp/ProgramServicesAmt0300912
IRS990/TotalFunctionalExpensesGrp/TotalAmt0305892
IRS990/TotalGrossUBIAmt00
IRS990/TotalLiabilitiesBOYAmt00
IRS990/TotalLiabilitiesEOYAmt00
IRS990/TotalLiabilitiesGrp/BOYAmt00
IRS990/TotalLiabilitiesGrp/EOYAmt00
IRS990/TotalNetAssetsFundBalanceGrp/BOYAmt014766
IRS990/TotalNetAssetsFundBalanceGrp/EOYAmt0146002
IRS990/TotalOtherCompensationAmt00
IRS990/TotalProgramServiceExpensesAmt0300912
IRS990/TotalReportableCompFromOrgAmt00
IRS990/TotalRevenueGrp/ExclusionAmt0741
IRS990/TotalRevenueGrp/RelatedOrExemptFuncIncomeAmt00
IRS990/TotalRevenueGrp/TotalRevenueColumnAmt0436443
IRS990/TotalRevenueGrp/UnrelatedBusinessRevenueAmt00
IRS990/TotalVolunteersCnt00
IRS990/TotLiabNetAssetsFundBalanceGrp/BOYAmt014766
IRS990/TotLiabNetAssetsFundBalanceGrp/EOYAmt0146002
IRS990/TotReportableCompRltdOrgAmt00
IRS990/TrnsfrExmptNonChrtblRltdOrgInd00
IRS990/TypeOfOrganizationCorpInd0X
IRS990/UnrelatedBusIncmOverLimitInd00
IRS990/UponRequestInd0X
IRS990/USAddress/AddressLine1Txt0225 SOUTH SIXTH ST 1400
IRS990/USAddress/CityNm0MINNEAPOLIS
IRS990/USAddress/StateAbbreviationCd0MN
IRS990/USAddress/ZIPCd055402
IRS990/VotingMembersGoverningBodyCnt05
IRS990/VotingMembersIndependentCnt01
IRS990/WebsiteAddressTxt0HTTPS://FOUNDATION-X.ORG/
IRS990/WhistleblowerPolicyInd00
ReturnHeader/BuildTS02025-03-06 01:10:19Z
ReturnHeader/BusinessOfficerGrp/DiscussWithPaidPreparerInd01
ReturnHeader/BusinessOfficerGrp/PersonNm0EMILY VENNERSTROM
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0EXECUTIVE DIRECTOR
ReturnHeader/BusinessOfficerGrp/PhoneNum06123678800
ReturnHeader/BusinessOfficerGrp/SignatureDt02025-11-13
ReturnHeader/Filer/BusinessName/BusinessNameLine1Txt0FOUNDATION X
ReturnHeader/Filer/BusinessNameControlTxt0FOUN
ReturnHeader/Filer/EIN0871331226
ReturnHeader/Filer/PhoneNum06123678800
ReturnHeader/Filer/USAddress/AddressLine1Txt0225 SOUTH SIXTH ST 1400
ReturnHeader/Filer/USAddress/CityNm0MINNEAPOLIS
ReturnHeader/Filer/USAddress/StateAbbreviationCd0MN
ReturnHeader/Filer/USAddress/ZIPCd055402
ReturnHeader/IRSResponsiblePrtyInfoCurrInd00
ReturnHeader/PreparerFirmGrp/PreparerFirmEIN0364825962
ReturnHeader/PreparerFirmGrp/PreparerFirmName/BusinessNameLine1Txt0NORTHROCK PARTNERS TAX SERVICES LLC
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/AddressLine1Txt0225 SOUTH 6TH STREET SUITE 1400
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/CityNm0MINNEAPOLIS
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/StateAbbreviationCd0MN
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/ZIPCd055402
ReturnHeader/PreparerPersonGrp/PhoneNum06123678800
ReturnHeader/PreparerPersonGrp/PreparationDt02025-11-13
ReturnHeader/PreparerPersonGrp/PreparerPersonNm0SARAH RUSHFORD
ReturnHeader/ReturnTs02025-11-17T14:23:02-06:00
ReturnHeader/ReturnTypeCd0990
ReturnHeader/TaxPeriodBeginDt02024-01-01
ReturnHeader/TaxPeriodEndDt02024-12-31
ReturnHeader/TaxYr02024

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