2024-09-23T15:12:15-04:00 2023-12-31 452690863 TRI-STATE TAX & ACCOUNTING 1425 SAINT JOHN AVE ALBERT LEA MN 560073156 990 2023-01-01 411448611 GRACE FOUNDATION INC OF ALBERT LEA GRAC 5073736496 918 GARFIELD AVE ALBERT LEA MN 56007 MARSHA SMITH TREASURER 5073736496 2024-09-23 true true JENNIFER L DAVENPORT P00390012 5073732185 2024-09-23 2023 2024-08-08 14:25:15Z BRUCE OLSON 918 GARFIELD AVE ALBERT LEA MN 56007 93470 false X X 1982 MN SUPPORT OF CHURCH & MINISTRY 7 7 0 0 0 36951 0 12987 12220 26080 49938 38300 31868 38590 0 0 0 0 12562 2942 44430 41532 5508 -3232 1385091 1601286 0 1385091 1601286 SUPPORT OF CHURCH AND MINISTRY false false 38590 38590 WE ARE A SMALL ORGANIZATION THAT PROVIDES GRANTS TO CHURCH MEMBERS WHO ARE COLLEGE STUDENTS AND ALSO TO THE CHURCH FOR SUPPORT OF ITS PROGRAMS AND FACILITIES. CHURCH AND OTHER ORGANIZATIONS APPLY TO FOUNDATION TO ASK FOR FUNDS FOR VARIOUS PROJECTS OR PURCHASES. DEPENDING ON SITUATION THESE REQUESTS CAN BE EITHER A REQUEST OR REIMBURESEMENT (AFTER EXPENSES OR PURCHASES HAVE BEEN PAID OR MADE) OR A REQUEST FOR UPCOMING EXPENSES OR PURCHASES. APPLICATION INCLUDES A BREAKDOWN BUDGET OF ITEMS THEY ARE REQUESTING OR QUOTES USED IN ACCORDANCE WITH THE ORGANIZATION REQUEST AND FOUNDATIONS APPROVAL. 38590 true false false false false false true false false false true false false false false false false false false false false false false false false false false true false false false false false false false false false false false false false false false false false false false true 0 0 0 false false false false false false false false X 7 7 false false false false false false false true true false false true true true true false true false false false X MARSHA SMITH 5073736496 918 GARFIELD AVE ALBERT LEA MN 56007 X PAUL ANDERSEN DIRECTOR 4.00 X 0 0 0 JERRY DAHL DIRECTOR 4.00 X 0 0 0 ROY PAGE DIRECTOR 4.00 X 0 0 0 DALE BUENDORF SECRETARY 9.00 X 0 0 0 KAREN HENDRICKSON VICE CHAIR 6.00 X 0 0 0 BRUCE OLSON CHAIR 10.00 X 0 0 0 STEVE SCHULTZ BOARD TREASU 2.00 X 0 0 0 false false false 12101 12101 40236 14156 26080 26080 26080 38297 2836 41014 -2717 2836 119 119 38300 12220 26080 34840 34840 3750 3750 1322 1322 1580 1580 BANK CHARGES 40 40 41532 38590 2942 0 21958 155025 120779 1150800 959000 1150800 271066 307749 1385091 1601286 0 0 X 1280722 1496917 104369 104369 1385091 1601286 1385091 1601286 X -3232 219427 X false false X X 1 GRACE LUTHERAN CHURCH GRACE LUTHERAN CHURCH 410773788 1 true 34890 0 1 34890 0 true false false false false false false false false false false false false false false true false false X true true PART IV, SECTION E, LINE 2A SUPPORTED ORGANIZATION WAS GRACE LUTHERAN CHURCH. ITEMS SUPPORTED WERE VACATION BIBLE SCHOOL EXPENSE FOR CHILDREN OF CHURCH MEMBERS AND EDUCATION EXPENSES FOR SOME CHURCH STAFF MEMBERS. FOUNDATIONS SUPPORT ALLOWED CHURCH TO CONTINUE TO OFFER VACATION BIBLE SCHOOL AND EDUCATION OPPORTUNITIES FOR STAFF. PART IV, SECTION E, LINE 2B WITHOUT FOUNDATION HELP FOR THESE VARIOUS CHURCH ACTIVITIES THE CHURCH WOULD STILL DO THE ACTIVITIES, ALTHOUGH ON A MUCH MORE LIMITED SCOPE AND SCALE. THE FOUNDATIONS SUPPORT OF THESE ACTIVITIES ALLOWS THE CHURCH TO DIRECT ITS INCOME TOWARDS OTHER OPERATIONS AND ACTIVITES OF THE CHURCH. X X 1 14.00 1 false 1150800 1150800 1150800 false GRACE LUTHERAN CHURCH 918 GARFIELD AVE ALBERT LEA MN 56007 410773788 501C3 34840 SCHEDULE I, PAGE 1, PART I, LINE 2 CHURCH AND OTHER ORGANIZATIONS APPLY TO FOUNDATION TO ASK FOR FUNDS FOR VARIOUS PROJECTS OR PURCHASES. DEPENDING ON SITUATION, THESE REQUESTS CAN BE EITHER A REQUEST FOR REIMBURSEMENT OR A REQUEST FOR UPCOMING EXPENSES. APPLICATION INCLUDES A BREAKDOWN BUDGET OF ITEMS THEY ARE REQUESTING OR QUOTES AND ESTIMATES FOR ITEMS BEING REQUESTED. FOUNDATION DOES A FOLLOW UP REVIEW FOR THOSE APPROVALS TO VERIFY THAT MONIES WERE USED IN ACCORDANCE WITH THE ORGANIZATIONS REQUEST. FORM 990, PART VI CEO, EXECUTIVE DIRECTOR, TOP MANAGEMENT COMP (PART VI, LINE 15A) AT PRESENT TIME NO BOARD MEMBER RECEIVES ANY COMPENSATION OR BENEFITS. WE HAVE NO INTENTION OF CHANGING THIS POLICY OF PROVIDING COMPENSATION. IF WE WERE TO PROVIDE COMPENSATION IT WOULD REQUIRE APPROVAL OF THE BOARD. FORM 990, PAGE 6, PART VI, LINE 11B COMPLETED 990 IS PRESENTED FOR REVIEW PRIOR TO BEING FILED. FORM 990 IS EXPLAINED AND QUESTIONS ANSWERED. ORGANIZATION APPROVES ACCEPTANCE OF FORM 990 AND AUTHORIZES IT FILING WITH IRS BEFORE IT IS FILED. FORM 990, PAGE 6, PART VI, LINE 12C CONFLICT OF INTEREST POLICY WAS APPROVED IN PREVIOUS YEARS. THIS IS REVIEWED ANNUALLY WITH ALL BOARD MEMBERS AND ANY CONFLICTS OF INTEREST ARE DISCUSSED AND APPROVED BY THE BOARD. IN THE FUTURE ANY CONFLICTS OF INTEREST THAT ARISE WILL BE ADDRESSED BY THE BOARD OF DIRECTORS AT THE NEXT BOARD MEETING. FORM 990, PAGE 6, PART VI, LINE 19 ANYONE WISHING TO REVIEW THE FORM 990 CAN CONTACT ANY BOARD MEMBER WHO WILL SET UP A TIME TO MEET AND SHOW THE INTERESTED PARTY THE FORM 990 TAX RETURN. FORM 990, PART XI IN 2012, A CHANGE WAS MADE TO REPORT THE VALUE OF FARMLAND AT MARKET VALUE INSTEAD OF COST. IT WAS DECIDED TO USE THE COUNTY ASSESSORS VALUE FOR PROPERTY TAX PURPOSES AS THE FINANCIAL STATEMENT VALUE. THE 2023 APPRAISED PROPERTY TAX VALUATION FOR THIS FARMLAND WAS 1,150,800, AN INCREASE OF 191,800 FROM THE 2022 APPRASIED PROPERTY TAX VALUATION. THIS INCREASE OF 191,800 IS SHOWN AS AN OTHER CHANGE TO NET ASSETS ON PART XI OF FORM 990. FORM 990, PART XI, LINE 9 LAND FMV INCREASE 191,800 INVESTMENT ADJ TO FMV 27,627 TOTAL 219,427