Nonprofit · EIN 41-1784382
BEST BUY FOUNDATION
Tax-exempt · RICHFIELD, MN 55423
Financials
| Year ended | Form | Revenue | Expenses | Net income | Total assets | Liabilities | Net assets |
|---|---|---|---|---|---|---|---|
| March 1, 2025 | 990-PF | $22,415,219 | $23,875,409 | -$1,460,190 | $59,200,002 | $27,867 | $59,172,135 |
| March 2, 2024 | 990-PF | $22,277,118 | $19,794,606 | $2,482,512 | $60,966,711 | $334,386 | $60,632,325 |
Financial details: 990-PF for the year ended March 1, 2025
Revenue
- Contributions, gifts and grants
- $19,729,810
- Interest
- $2,685,409
Expenses
- Grants and similar amounts paid
- $17,830,197
- Compensation of officers, directors and key employees
- $0
- Disbursements for charitable purposes
- $18,330,044
- Excise tax on investment income
- $37,327
Balance sheet and other
- Total assets, start of year
- $60,966,711
- Total assets, end of year
- $59,200,002
- Total liabilities, end of year
- $27,867
- Net assets, end of year
- $59,172,135
- Fair market value of assets
- $59,200,002
- Qualifying distributions
- $18,330,044
- Net investment income
- $2,685,409
From the e-filed returns the IRS publishes as XML (latest three processing years; amended returns replace the original). PDF copies at the IRS.
Officers, directors and key employees
As listed on the 990-PF for the year ended March 1, 2025, highest compensation first.
| Name | Title | Hours / week | Compensation |
|---|---|---|---|
| Todd Hartman 7601 PENN AVE SOUTH C/O INCOME TAX, RICHFIELD, MN 55423 | President | 0 | $0 |
| Molly Kinsella 7601 PENN AVE SOUTH C/O INCOME TAX, RICHFIELD, MN 55423 | Secretary | 0 | $0 |
| Mat Watson 7601 PENN AVE SOUTH C/O INCOME TAX, RICHFIELD, MN 55423 | Treasurer | 0 | $0 |
| Corie Barry 7601 PENN AVE SOUTH C/O INCOME TAX, RICHFIELD, MN 55423 | Trustee | 0 | $0 |
| Jason Bonfig 7601 PENN AVE SOUTH C/O INCOME TAX, RICHFIELD, MN 55423 | Trustee | 0 | $0 |
| Meghan Condon 7601 PENN AVE SOUTH C/O INCOME TAX, RICHFIELD, MN 55423 | Trustee | 0 | $0 |
| Melanie Cornell 7601 PENN AVE SOUTH C/O INCOME TAX, RICHFIELD, MN 55423 | Trustee | 0 | $0 |
| David Garcia 7601 PENN AVE SOUTH C/O INCOME TAX, RICHFIELD, MN 55423 | Trustee | 0 | $0 |
| Amelia Hardy 7601 PENN AVE SOUTH C/O INCOME TAX, RICHFIELD, MN 55423 | Trustee | 0 | $0 |
| Jeff Haydock 7601 PENN AVE SOUTH C/O INCOME TAX, RICHFIELD, MN 55423 | Trustee | 0 | $0 |
| Mark Irvin 7601 PENN AVE SOUTH C/O INCOME TAX, RICHFIELD, MN 55423 | Trustee | 0 | $0 |
| Chemu Lang'at 7601 PENN AVE SOUTH C/O INCOME TAX, RICHFIELD, MN 55423 | Trustee | 0 | $0 |
| Patrick McIntyre 7601 PENN AVE SOUTH C/O INCOME TAX, RICHFIELD, MN 55423 | Trustee | 0 | $0 |
| Polly Tracey 7601 PENN AVE SOUTH C/O INCOME TAX, RICHFIELD, MN 55423 | Trustee | 0 | $0 |
| Jennie Weber 7601 PENN AVE SOUTH C/O INCOME TAX, RICHFIELD, MN 55423 | Trustee | 0 | $0 |
1 more people on this return
| Name | Title | Hours / week | Compensation |
|---|---|---|---|
| Kamy Scarlett 7601 PENN AVE SOUTH C/O INCOME TAX, RICHFIELD, MN 55423 | Trustee | 0 | $0 |
990-PF for the year ended March 2, 2024: 1 people
| Name | Title | Hours / week | Compensation |
|---|---|---|---|
| See Attached Statement 4A 7601 PENN AVE SOUTH C/O INCOME TAX, RICHFIELD, MN 55423 | President | 0 | $0 |
Address and contacts
- Address (IRS master file)
- 7601 PENN AVE S, RICHFIELD, MN 55423-3645
- In care of
- % MAT WATSON
- Signed the 990-PF
- Mat Watson, Treasurer
What it must file and when
IRS records say it files Form 990-PF. Private foundations file every year. Its accounting year ends in February, so each return is due on the 15th day of the 5th month after that.
| Tax year | Year ended | Due | IRS public records |
|---|---|---|---|
| 2025 | February 28, 2026 | July 15, 2026 | Not on file |
| 2024 | February 28, 2025 | July 15, 2025 | No data |
| 2023 | February 29, 2024 | July 15, 2024 | No data |
IRS record
- EIN
- 41-1784382
- Tax-exempt status
- 501(c)(3): Charitable, religious, educational or scientific organization
- Foundation status
- Private non-operating foundation
- Donations deductible (Pub 78)
- Private foundation, 30% limit
- Exempt since
- 1995
- Accounting year ends
- February
- Files
- Form 990-PF
- Category (NTEE)
- Philanthropy, voluntarism and grantmaking foundations (T70I)
- Assets (IRS master file)
- $59,200,002
- Income (IRS master file)
- $22,415,219
Filing history
| Form | Year ended | Revenue | Expenses | Assets | Return |
|---|---|---|---|---|---|
| 990-PF | March 2025 | – | – | – | IRS |
| 990-PF | March 2024 | – | – | – | IRS |
| 990-PF | February 2023 | $19,991,487 | $18,750,480 | $58,329,256 | IRS |
| 990-PF | February 2022 | – | – | – | IRS |
| 990-PF | February 2021 | – | – | – | IRS |
990-N: the IRS publishes only the latest e-Postcard per organization; earlier years appear here as 990.tax collects the monthly files. 990, 990-EZ, 990-PF, 990-T: every e-filed return in the IRS e-file index since 2019; XML for the latest three processing years, amounts from the IRS Statistics of Income extracts before that. PDF copies and determination letters at the IRS.
Questions about BEST BUY FOUNDATION
- What is the EIN of BEST BUY FOUNDATION?
- The employer identification number (EIN) of BEST BUY FOUNDATION is 41-1784382.
- Is BEST BUY FOUNDATION tax-exempt?
- Yes. The IRS lists it as tax-exempt under section 501(c)(3) since 1995.
- Are donations to BEST BUY FOUNDATION tax-deductible?
- Yes. It is listed in IRS Publication 78 (Private foundation, 30% limit).
- Which annual return does BEST BUY FOUNDATION file?
- Form 990-PF. Private foundations file every year.
- When is the next return of BEST BUY FOUNDATION due?
- The return for tax year 2025 (the year ending February 28, 2026) is due July 15, 2026. Form 8868 extends it by six months; the 990-N cannot be extended.
- When did BEST BUY FOUNDATION last file with the IRS?
- The latest return in the IRS public files is the 990-PF for the year ended March 2025.
- Who are the officers and directors of BEST BUY FOUNDATION?
- The 990-PF for the year ended March 1, 2025 lists 16 people; 0 received compensation from the organization.
- How much revenue does BEST BUY FOUNDATION have?
- On its 990-PF for the year ended March 1, 2025 it reported revenue of $22,415,219, expenses of $23,875,409 and total assets of $59,200,002 at year end.
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All nonprofits in RICHFIELD · Minnesota · Philanthropy, voluntarism and grantmaking foundations