Civic Intelligence

Foundation X

990 • Fiscal year 2023 • EIN 87-1331226

Jan 01, 2023 to Dec 31, 2023 • Filed on Nov 14, 2024

Organization ProfileFOUNDATION-X.ORG
225 South Sixth St 1400Minneapolis, MN 55402

(612) 367-8800

Siviq Scores

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

Liabilities / Assets

58th percentile

0.00x

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

2023 filings • 501(c)3 • <$500k nonprofits • Source year 2023

Liabilities / Revenue

59th percentile

0.00x

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

2023 filings • 501(c)3 • <$500k nonprofits • Source year 2023

Net Margin

29th percentile

-8.7%

Higher net margin than 29% of similar nonprofits.

2023 filings • 501(c)3 • <$500k nonprofits • Source year 2023

Top Officer Pay

78th percentile

$0

Higher top officer pay than 78% of similar nonprofits.

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

2023 filings • 501(c)3 • <$500k nonprofits • Source year 2023

Asset Growth

9th percentile

-57%

Faster asset growth than 9% of similar nonprofits.

2023 filings • 501(c)3 • <$500k nonprofits • Annualized from 2022 to 2023

Revenue Growth

Score unavailable

No value available

A valid growth rate could not be computed from the available filing history.

Annualized from 2022 to 2023

Balance Sheet
Liabilities / Assets58th percentile

Assets

Down

$14,766

Down $19,559 (-57%) from 2022

Net Assets

Down

$14,766

Down $19,559 (-57%) from 2022

Liabilities

Flat

$0

Flat from 2022

Revenue And Expenses
Liabilities / Revenue59th percentileNet Margin29th percentile

Revenue

Up

$215,881

Up $217,598 (+12673%) from 2022

Expenses

Up

$234,760

Up $184,779 (+370%) from 2022

Net Income

Up

-$18,879

Up $32,819 (+63%) from 2022

Historical Trend

Balance Sheet Trend

Asset Growth9th percentile

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

$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

2023

Assets$14,766
Liabilities$0
Net Assets$14,766
Open 2023 Filing

Operations Trend

Revenue GrowthScore unavailable

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

2023

Revenue$215,881
Expenses$234,760
Net Income-$18,879
Open 2023 Filing
Jump To
Filing Snapshot
Filing Period
Jan 1, 2023 to Dec 31, 2023
Signed
Nov 14, 2024
Return Version
2023v5.1
Gross Receipts
$243,999
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$34,325$14,766▼ $19,559
Savings and Temporary Cash Investments$11,074$7,665▼ $3,409
Investments in Publicly Traded Securities$23,251$7,101▼ $16,150
Pd in Cap Srpls Land Bldg Eqp Fund$0$0→ $0
Cap Stk Tr Prin Current Funds$0$0→ $0
Total Assets$34,325$14,766▼ $19,559
Liabilities
Total Liabilities$0$0→ $0
Net Assets / Fund Balance
Total Net Assets Fund Balance$34,325$14,766▼ $19,559
Total Liabilities and Net Assets / Fund Balance$34,325$14,766▼ $19,559
Compensation and Service Providers
Top Officer Pay78th percentile

Board Members and Trustees

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

Revenue Composition

Contributions and Grants
$216,000
Program Service Revenue
$0
Investment Income
$-119
Other Revenue
$0
All Other Contributions
$216,000
Change in Net Assets
$-18,879
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Grants and Similar Amounts Paid$230,358
Other Expenses$4,402
Professional Fundraising Fees$0
Salaries, Compensation, and Employee Benefits$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Grants to Domestic Orgs$230,358--$230,358
Insurance-$1,910-$1,910
Fees for Services Legal-$1,185-$1,185
Fees for Services Other-$731-$731
Advertising-$576-$576
Total Functional Expenses$230,358$4,402$0$234,760
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, emily vennerstrom, and jessica huggenvik 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
2024-11-14
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Emily Vennerstrom
Formed
2021
Legal Domicile
Mn
Voting Board Members
6
Independent Board Members
1
Employees
0
Volunteers
0

Preparer

Firm
Private Tax Services
Address
225 SOUTH SIXTH STREET SUITE 1400, MINNEAPOLIS, MN 55402
Preparer
Sarah Rushford
Phone
6123678800
Raw XML Appendix333 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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IRS990/Desc0PROVIDE MATCHING FUNDS TO INDIVIDUALS TO ADVANCE THEIR PERSONAL EFFORTS TO GIVE BACK TO THE CAUSES AND COMMUNITIES THEY CARE ABOUT. TOTAL GIVING $17,657.
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IRS990/Form990PartVIISectionAGrp/PersonNm2EMILY VENNERSTROM
IRS990/Form990PartVIISectionAGrp/PersonNm3TODD MOSER
IRS990/Form990PartVIISectionAGrp/PersonNm4WARD ARMSTRONG
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IRS990/Form990PartVIISectionAGrp/TitleTxt0PRESIDENT
IRS990/Form990PartVIISectionAGrp/TitleTxt1VICE PRESIDENT
IRS990/Form990PartVIISectionAGrp/TitleTxt2SECRETARY & EXEC DIR
IRS990/Form990PartVIISectionAGrp/TitleTxt3DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt4DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt5DIRECTOR
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IRS990/FSAuditedInd00
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IRS990/GamingActivitiesInd00
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IRS990/GrantsToIndividualsInd00
IRS990/GrantsToOrganizationsInd01
IRS990/GrantToRelatedPersonInd00
IRS990/GrossAmountSalesAssetsGrp/SecuritiesAmt027020
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IRS990/GroupReturnForAffiliatesInd00
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IRS990/IndoorTanningServicesInd00
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IRS990/MethodOfAccountingCashInd0X
IRS990/MinutesOfCommitteesInd01
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IRS990/MissionDesc0TO ACHIEVE A GREATER GOOD FOR ALL THROUGH EFFECTIVE PHILANTHROPY THAT ADVANCES LONG-TERM AND SUSTAINABLE COMMUNITY CHANGE.
IRS990/MoreThan5000KToIndividualsInd00
IRS990/MoreThan5000KToOrgInd00
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IRS990/NetUnrlzdGainsLossesInvstAmt0-680
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IRS990/NondeductibleContributionsInd00
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IRS990/PoliticalCampaignActyInd00
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IRS990/ProgSrvcAccomActy2Grp/Desc0THE FOUNDATION X HOLIDAY HAT TRICK INITIATIVE INVITES PLAYERS ACROSS THE NATIONAL HOCKEY LEAGUE TO GIVE THE GIFT OF A JOYOUS HOLIDAY SEASON TO FAMILIES IN THEIR LOCAL COMMUNITY THROUGH A QUALIFIED NONPROFIT ORGANIZATION. IN ADDITION TO THEIR PARTICIPATION, MATCHING DONATIONS WILL BE MADE TO TRIPLE THEIR CONTRIBUTIONS AND PROVIDE AN EVEN GREATER IMPACT.
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IRS990/ProgSrvcAccomActy3Grp/Desc0WIRED TO GIVE - FACILITATED DONOR EVENT, HIGHLIGHTING ORGANIZATIONS DEDICATED TO ADVANCING EFFECTIVE PHILANTHROPY AND SUPPORTING THEIR MISSIONS THROUGH SHARED CONTRIBUTIONS.
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IRS990/ProgSrvcAccomActyOtherGrp/Desc0FISCAL SPONSOR FOR THE MCDONOUGH INSTITUTE
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IRS990ScheduleB/ContributorInformationGrp/ContributorNum0RESTRICTED
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IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/AddressLine20RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/City0RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/State0RESTRICTED
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IRS990/ScheduleBRequiredInd01
IRS990ScheduleI/GrantRecordsMaintainedInd01
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:
IRS990/ScheduleJRequiredInd00
IRS990/ScheduleORequiredInd01
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0ROB NELSON, SEAN BAENEN, TODD MOSER, EMILY VENNERSTROM, AND JESSICA HUGGENVIK 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
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IRS990/WebsiteAddressTxt0HTTPS://FOUNDATION-X.ORG/
IRS990/WhistleblowerPolicyInd00
ReturnHeader/BuildTS02024-10-15 13:58:12Z
ReturnHeader/BusinessOfficerGrp/DiscussWithPaidPreparerInd01
ReturnHeader/BusinessOfficerGrp/PersonNm0EMILY VENNERSTROM
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0EXECUTIVE DIRECTOR
ReturnHeader/BusinessOfficerGrp/PhoneNum06123678800
ReturnHeader/BusinessOfficerGrp/SignatureDt02024-11-14
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/IRSResponsiblePrtyInfoCurrInd01
ReturnHeader/PreparerFirmGrp/PreparerFirmEIN0364825962
ReturnHeader/PreparerFirmGrp/PreparerFirmName/BusinessNameLine1Txt0PRIVATE TAX SERVICES
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/AddressLine1Txt0225 SOUTH SIXTH STREET SUITE 1400
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/CityNm0MINNEAPOLIS
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/StateAbbreviationCd0MN
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/ZIPCd055402
ReturnHeader/PreparerPersonGrp/PhoneNum06123678800
ReturnHeader/PreparerPersonGrp/PreparationDt02024-11-14
ReturnHeader/PreparerPersonGrp/PreparerPersonNm0SARAH RUSHFORD
ReturnHeader/ReturnTs02024-11-15T08:30:01-06:00
ReturnHeader/ReturnTypeCd0990
ReturnHeader/TaxPeriodBeginDt02023-01-01
ReturnHeader/TaxPeriodEndDt02023-12-31
ReturnHeader/TaxYr02023

Document Assets

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Filings

Displayed year

2023 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$14,766
Liabilities
$0
Net assets
$14,766
Revenue
$215,881
Expenses
$234,760
Net income
-$18,879
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