Civic Intelligence

Marvin M Jorgensen Charitable Trust

EIN 87-6969181 • 501(c)3 • Urbandale, IA

Profile

This trust shall be solely for the benefit of mayo clinic, rochester, minnesota.

2301 Northwest 128th StreetUrbandale, IA 50323

n/A

Siviq Scores

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

Liabilities / Assets

51st percentile

0.27x

Higher debt load relative to assets than 51% of similar nonprofits.

501(c)3 • $100M-$250M nonprofits • Source year 2024

Liabilities / Revenue

39th percentile

0.29x

Higher debt load relative to revenue than 39% of similar nonprofits.

501(c)3 • $100M-$250M nonprofits • Source year 2024

Net Margin

99th percentile

97%

Higher net margin than 99% of similar nonprofits.

501(c)3 • $100M-$250M nonprofits • Source year 2024

Top Officer Pay

5th percentile

$0

Higher top officer pay than 5% of similar nonprofits.

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

501(c)3 • $100M-$250M nonprofits • Source year 2024

Asset Growth

100th percentile

1321%

Faster asset growth than 100% of similar nonprofits.

501(c)3 • $100M-$250M nonprofits • Annualized from 2023 to 2024

Revenue Growth

100th percentile

2590%

Faster revenue growth than 100% of similar nonprofits.

501(c)3 • $100M-$250M nonprofits • Annualized from 2023 to 2024

Balance Sheet
Liabilities / Assets51st percentile

Assets

Up

$105,358,633

Up $97,943,005 (+1321%) from 2023

Liabilities

Up

$28,700,000

Up $28,700,000 from 2023

Net Assets

Up

$76,658,633

Up $69,243,005 (+934%) from 2023

Operations
Liabilities / Revenue39th percentileNet Margin99th percentile

Revenue

Up

$100,446,187

Up $96,712,011 (+2590%) from 2023

Expenses

Up

$2,555,793

Up $2,332,745 (+1046%) from 2023

Net Income

Up

$97,890,394

Up $94,379,266 (+2688%) from 2023

Trend Graphs

Balance Sheet Trend

Asset Growth100th percentile

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

$150M$100M$50M$0Assets 2022: $3,904,500Liabilities 2022: $0Net Assets 2022: $3,904,5002022Assets 2023: $7,415,628Liabilities 2023: $0Net Assets 2023: $7,415,6282023Assets 2024: $105,358,633Liabilities 2024: $28,700,000Net Assets 2024: $76,658,6332024

Highlighted filing

2024

Assets$105,358,633
Liabilities$28,700,000
Net Assets$76,658,633
Open 2024 Filing

Operations Trend

Revenue Growth100th percentile

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

$150M$100M$50M$0Revenue 2022: $3,904,669Expenses 2022: $169Net Income 2022: $3,904,5002022Revenue 2023: $3,734,176Expenses 2023: $223,048Net Income 2023: $3,511,1282023Revenue 2024: $100,446,187Expenses 2024: $2,555,793Net Income 2024: $97,890,3942024

Highlighted filing

2024

Revenue$100,446,187
Expenses$2,555,793
Net Income$97,890,394
Open 2024 Filing

Filings

Most recent year

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

Open filing
Assets
$105,358,633
Liabilities
$28,700,000
Net assets
$76,658,633
Revenue
$100,446,187
Expenses
$2,555,793
Net income
$97,890,394
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Detailed filing. Detailed filing data is available for this year.$105$28.7$76.7$100$2.56$97.9
2023Detailed filing. Detailed filing data is available for this year.$7.42$0.00$7.42$3.73$0.22$3.51
2022Detailed filing. Detailed filing data is available for this year.$3.90$0.00$3.90$3.90$0.00$3.90
Latest Filing Detail
Jump To
Filing Snapshot
Filing Period
Jan 1, 2024 to Dec 31, 2024
Signed
May 14, 2025
Return Version
2024v5.1
Gross Receipts
$102,407,952
Mission and Program Overview

Mission

This trust shall be solely for the benefit of mayo clinic, rochester, minnesota.

Balance Sheet Detail
LineBeginningEndChange
Assets
Land, Buildings, and Equipment, Net$7,383,200$98,522,927▲ $91,139,727
Rtn Earn Endowment Incm Other Fnds$7,415,628$76,658,633▲ $69,243,005
Savings and Temporary Cash Investments$32,428$6,636,148▲ $6,603,720
Investments in Publicly Traded Securities-$109,558-
Cash and Non-Interest-Bearing Accounts-$0-
Accounts Receivable-$0-
Other Notes and Loans Receivable, Net-$0-
Pledges and Grants Receivable-$0-
Receivable From Disqualified Prsn-$0-
Receivables From Officers Etc-$0-
Investments Other Securities-$0-
Investments Program Related-$0-
Intangible Assets-$0-
Inventories for Sale or Use-$0-
Prepaid Expenses and Deferred Charges-$0-
Total Assets$7,415,628$105,358,633▲ $97,943,005
Other Assets Total-$90,000-
Liabilities
Mortgage Notes Payable Secured by Investment Property-$28,700,000-
Total Liabilities$0$28,700,000▲ $28,700,000
Net Assets / Fund Balance
Total Net Assets Fund Balance$7,415,628$76,658,633▲ $69,243,005
Total Liabilities and Net Assets / Fund Balance$7,415,628$105,358,633▲ $97,943,005

Asset Categories

AssetBook ValueDepreciationBasis
Land$98,457,435-$98,457,435
Buildings$35,060$140$35,200
Leasehold Improvements$30,432$1,602$32,034
Compensation and Service Providers
Top Officer Pay5th percentile

Board Members and Trustees

NameTitle
Iowa State BankTrustee
Revenue and Support

Revenue Composition

Contributions and Grants
$97,356,115
Program Service Revenue
$0
Investment Income
$425,619
Other Revenue
$2,664,453
All Other Contributions
$97,356,115
Change in Net Assets
$97,890,394

Noncash Contribution Practices

Property subject to holding requirements
No
Reviewed unusual noncash gifts
No
Third parties used for noncash contributions
No

Noncash Contributions

Contribution TypeContribution CountReported AmountValuation Method
Real Estate Commercial1$90,990,700Appraisal
Securities Publicly Traded1$109,558Cost
Total Noncash Contributions2$91,100,258-
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Grants and Similar Amounts Paid$2,476,239
Other Expenses$79,554
Professional Fundraising Fees$0
Salaries, Compensation, and Employee Benefits$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Grants to Domestic Orgs$2,476,239--$2,476,239
Fees for Services Other-$49,497-$49,497
Fees for Service Investment Mgmnt Fees-$21,213-$21,213
Fees for Services Legal-$6,304-$6,304
Fees for Services Accounting-$2,540-$2,540
Total Functional Expenses$2,476,239$79,554$0$2,555,793
International Activity

Grant and Assistance Recipients

RecipientLocationCategoryPurposeAmount
Mayo ClinicRochester, MN-Medical Advances$2,476,239
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
Insider Transactions and Loans

Loans and Receivables

Line ItemBeginningEndChange
Receivables from Disqualified Persons-$0-
Receivables from Officers, Directors, Trustees, and Key Employees-$0-
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Backup withholding compliance
No
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
No
Audited financial statements prepared
No
Key decisions subject to board approval
No
Management duties delegated
No

Governance Explanations

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

“The return will be reviewed by the trustee and trust advisor prior to filing.”

Form 990, Part VI, Section C, Line 19

“No documents available to the public.”

Filing and Contact Details

Filer

Filer Name
Marvin M Jorgensen Charitable Trust
EIN
87-6969181
Phone
5153347726
Address
2301 NORTHWEST 128TH STREET, URBANDALE, IA 50323

Signing Officer

Name
Iowa State Bank
Title
Trustee
Signed
2025-05-14
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Iowa State Bank
Formed
2022
Legal Domicile
Ia
Voting Board Members
1
Independent Board Members
0
Employees
0

Preparer

Firm
Tarbell & Co Plc
Address
1466 28TH STREET SUITE 100, WEST DES MOINES, IA 50266
Preparer
Tyler J Reed CPA
Phone
5152820200
Supplemental Narrative

Additional Explanations

Form 990, Part XI, Line 9

“Assumption of estate promissory note = $90000”

Form 990, Part XI, Line 9

“Assumption of loans from estate = -$28700000”

Form 990, Part XI, Line 9

“Current year transactions to be reported in previous year = -$37389”

Raw XML AppendixShowing 400 of 452 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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IRS990ScheduleA/DistributionsGrp/CYPdInExcessIncomeActivityAmt00
IRS990ScheduleA/DistributionsGrp/CYTotalAnnualDistributionsAmt02555793
IRS990ScheduleA/DistributionsGrp/ExemptUseAssetsAcquisPaidAmt00
IRS990ScheduleA/DistributionsGrp/QualifiedSetAsideAmt00
IRS990ScheduleA/Form990SchASupportingOrgGrp/Contribution35ControlledInd0false
IRS990ScheduleA/Form990SchASupportingOrgGrp/ContributionControllerInd0false
IRS990ScheduleA/Form990SchASupportingOrgGrp/ContributionFamilyInd0false
IRS990ScheduleA/Form990SchASupportingOrgGrp/ControlledDisqualifiedPrsnInd0false
IRS990ScheduleA/Form990SchASupportingOrgGrp/DisqualifiedPrsnControllIntInd0false
IRS990ScheduleA/Form990SchASupportingOrgGrp/DisqualifiedPrsnOwnrIntInd0false
IRS990ScheduleA/Form990SchASupportingOrgGrp/ExcessBusinessHoldingsRulesInd0false
IRS990ScheduleA/Form990SchASupportingOrgGrp/ListedByNameGoverningDocInd0true
IRS990ScheduleA/Form990SchASupportingOrgGrp/LoanDisqualifiedPersonInd0false
IRS990ScheduleA/Form990SchASupportingOrgGrp/OrganizationChangeSuprtOrgInd0false
IRS990ScheduleA/Form990SchASupportingOrgGrp/PaymentSubstantialContribtrInd0false
IRS990ScheduleA/Form990SchASupportingOrgGrp/SupportedOrgNotOrganizedUSInd0false
IRS990ScheduleA/Form990SchASupportingOrgGrp/SupportedOrgSectionC456Ind0false
IRS990ScheduleA/Form990SchASupportingOrgGrp/SupportNonSupportedOrgInd0false
IRS990ScheduleA/Form990SchASupportingOrgGrp/SuprtOrgNoIRSDeterminationInd0false
IRS990ScheduleA/Form990SchAType3SprtOrgAllGrp/OfficersCloseRelationshipInd0false
IRS990ScheduleA/Form990SchAType3SprtOrgAllGrp/SupportedOrgVoiceInvestmentInd0false
IRS990ScheduleA/Form990SchAType3SprtOrgAllGrp/TimelyProvidedDocumentsInd0true
IRS990ScheduleA/Form990ScheduleAPartVIGrp/ExplanationTxt0CHARITABLE TRUST IS GOVERNED BY THE TRUST AGREEMENT AND MANAGED BY IOWA STATE BANK, TRUSTEE.
IRS990ScheduleA/Form990ScheduleAPartVIGrp/FormAndLineReferenceDesc0Part IV, Section D, Line 2: Organizaiton Maintained A Relationship with Supported Orgs.
IRS990ScheduleA/IRSWrittenDeterminationInd0X
IRS990ScheduleA/MinimumAssetAmountGrp/AcquisitionIndebtednessGrp/PriorYearAmt00
IRS990ScheduleA/MinimumAssetAmountGrp/AdjustedFMVLessIndebtednessGrp/CurrentYearAmt08486332
IRS990ScheduleA/MinimumAssetAmountGrp/AdjustedFMVLessIndebtednessGrp/PriorYearAmt0156000
IRS990ScheduleA/MinimumAssetAmountGrp/AverageMonthlyCashBalancesGrp/CurrentYearAmt08382228
IRS990ScheduleA/MinimumAssetAmountGrp/AverageMonthlyCashBalancesGrp/PriorYearAmt0156000
IRS990ScheduleA/MinimumAssetAmountGrp/AverageMonthlyFMVOfSecGrp/CurrentYearAmt0104104
IRS990ScheduleA/MinimumAssetAmountGrp/AverageMonthlyFMVOfSecGrp/PriorYearAmt00
IRS990ScheduleA/MinimumAssetAmountGrp/CashDeemedCharitableGrp/PriorYearAmt00
IRS990ScheduleA/MinimumAssetAmountGrp/DiscountClaimedAmt00
IRS990ScheduleA/MinimumAssetAmountGrp/FMVOtherNonExemptUseAssetGrp/PriorYearAmt00
IRS990ScheduleA/MinimumAssetAmountGrp/NetVlNonExemptUseAssetsGrp/CurrentYearAmt08486332
IRS990ScheduleA/MinimumAssetAmountGrp/NetVlNonExemptUseAssetsGrp/PriorYearAmt0156000
IRS990ScheduleA/MinimumAssetAmountGrp/PctOfNetVlNonExemptUseAstGrp/CurrentYearAmt0297022
IRS990ScheduleA/MinimumAssetAmountGrp/PctOfNetVlNonExemptUseAstGrp/PriorYearAmt05460
IRS990ScheduleA/MinimumAssetAmountGrp/RecoveriesPYDistriMinAssetGrp/PriorYearAmt00
IRS990ScheduleA/MinimumAssetAmountGrp/TotalFMVOfNonExemptUseAssetGrp/CurrentYearAmt08486332
IRS990ScheduleA/MinimumAssetAmountGrp/TotalFMVOfNonExemptUseAssetGrp/PriorYearAmt0156000
IRS990ScheduleA/MinimumAssetAmountGrp/TotalMinimumAssetGrp/CurrentYearAmt0297022
IRS990ScheduleA/MinimumAssetAmountGrp/TotalMinimumAssetGrp/PriorYearAmt05460
IRS990ScheduleA/OtherSupportSumAmt00
IRS990ScheduleA/SupportedOrganizationsCnt01
IRS990ScheduleA/SupportedOrganizationsTotalCnt01
IRS990ScheduleA/SupportedOrgInformationGrp/EIN0416011702
IRS990ScheduleA/SupportedOrgInformationGrp/GoverningDocumentListedInd0true
IRS990ScheduleA/SupportedOrgInformationGrp/OrganizationTypeCd03
IRS990ScheduleA/SupportedOrgInformationGrp/OtherSupportAmt00
IRS990ScheduleA/SupportedOrgInformationGrp/SupportAmt02476239
IRS990ScheduleA/SupportedOrgInformationGrp/SupportedOrganizationName/BusinessNameLine1Txt0MAYO CLINIC
IRS990ScheduleA/SupportingOrganization509a3Ind0X
IRS990ScheduleA/SupportingOrgType3NonFuncInd0X
IRS990ScheduleA/SupportSumAmt02476239
IRS990ScheduleB/ContributorInformationGrp/ContributorBusinessName/BusinessNameLine10RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorNum0RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/AddressLine10RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/AddressLine20RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/City0RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/State0RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/ZIPCode0RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/TotalContributionsAmt0RESTRICTED
IRS990/ScheduleBRequiredInd0true
IRS990ScheduleD/BuildingsGrp/BookValueAmt035060
IRS990ScheduleD/BuildingsGrp/DepreciationAmt0140
IRS990ScheduleD/BuildingsGrp/OtherCostOrOtherBasisAmt035200
IRS990ScheduleD/LandGrp/BookValueAmt098457435
IRS990ScheduleD/LandGrp/OtherCostOrOtherBasisAmt098457435
IRS990ScheduleD/LeaseholdImprovementsGrp/BookValueAmt030432
IRS990ScheduleD/LeaseholdImprovementsGrp/DepreciationAmt01602
IRS990ScheduleD/LeaseholdImprovementsGrp/OtherCostOrOtherBasisAmt032034
IRS990ScheduleD/TotalBookValueLandBuildingsAmt098522927
IRS990ScheduleI/GrantRecordsMaintainedInd0false
IRS990ScheduleI/RecipientTable/CashGrantAmt02476239
IRS990ScheduleI/RecipientTable/NonCashAssistanceAmt00
IRS990ScheduleI/RecipientTable/PurposeOfGrantTxt0MEDICAL ADVANCES
IRS990ScheduleI/RecipientTable/RecipientBusinessName/BusinessNameLine1Txt0MAYO CLINIC
IRS990ScheduleI/RecipientTable/USAddress/AddressLine1Txt0200 FIRST STREET
IRS990ScheduleI/RecipientTable/USAddress/CityNm0ROCHESTER
IRS990ScheduleI/RecipientTable/USAddress/StateAbbreviationCd0MN
IRS990ScheduleI/RecipientTable/USAddress/ZIPCd055905
IRS990ScheduleI/Total501c3OrgCnt01
IRS990ScheduleI/TotalOtherOrgCnt00
IRS990/ScheduleJRequiredInd0false
IRS990ScheduleM/AnyPropertyThatMustBeHeldInd0false
IRS990ScheduleM/RealEstateCommercialGrp/ContributionCnt01
IRS990ScheduleM/RealEstateCommercialGrp/MethodOfDeterminingRevenuesTxt0APPRAISAL
IRS990ScheduleM/RealEstateCommercialGrp/NonCashCheckboxInd0X
IRS990ScheduleM/RealEstateCommercialGrp/NoncashContributionsRptF990Amt090990700
IRS990ScheduleM/ReviewProcessUnusualNCGiftsInd0false
IRS990ScheduleM/SecuritiesPubliclyTradedGrp/ContributionCnt01
IRS990ScheduleM/SecuritiesPubliclyTradedGrp/MethodOfDeterminingRevenuesTxt0COST
IRS990ScheduleM/SecuritiesPubliclyTradedGrp/NonCashCheckboxInd0X
IRS990ScheduleM/SecuritiesPubliclyTradedGrp/NoncashContributionsRptF990Amt0109558
IRS990ScheduleM/ThirdPartiesUsedInd0false
IRS990/ScheduleORequiredInd0true
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0THE RETURN WILL BE REVIEWED BY THE TRUSTEE AND TRUST ADVISOR PRIOR TO FILING.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1No documents available to the public.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2ASSUMPTION OF ESTATE PROMISSORY NOTE = $90000
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3ASSUMPTION OF LOANS FROM ESTATE = -$28700000
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt4CURRENT YEAR TRANSACTIONS TO BE REPORTED IN PREVIOUS YEAR = -$37389
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0Form 990, Part VI, Section B, Line 11b
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1Form 990, Part VI, Section C, Line 19
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2Form 990, Part XI, Line 9
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3Form 990, Part XI, Line 9
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc4Form 990, Part XI, Line 9
IRS990/SchoolOperatingInd0false
IRS990/SignificantChangeInd0false
IRS990/SignificantNewProgramSrvcInd0false
IRS990/SubjectToExcsTaxNetInvstIncInd0false
IRS990/SubjectToProxyTaxInd0false
IRS990/SubjToTaxRmnrtnExPrchtPymtInd0false
IRS990/TaxablePartyNotificationInd0false
IRS990/TaxExemptBondsInd0false
IRS990/TerminateOperationsInd0false
IRS990/TotalAssetsBOYAmt07415628
IRS990/TotalAssetsEOYAmt0105358633
IRS990/TotalAssetsGrp/BOYAmt07415628
IRS990/TotalAssetsGrp/EOYAmt0105358633
IRS990/TotalCompGreaterThan150KInd0false
IRS990/TotalContributionsAmt097356115
IRS990/TotalEmployeeCnt00
IRS990/TotalFunctionalExpensesGrp/FundraisingAmt00
IRS990/TotalFunctionalExpensesGrp/ManagementAndGeneralAmt079554
IRS990/TotalFunctionalExpensesGrp/ProgramServicesAmt02476239
IRS990/TotalFunctionalExpensesGrp/TotalAmt02555793
IRS990/TotalGrossUBIAmt02168180

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