Nonprofit · EIN 46-1001245
TORGERSON FAMILY FOUNDATION
Tax-exempt · WAYZATA, MN 55391
Financials
| Year ended | Form | Revenue | Expenses | Net income | Total assets | Liabilities | Net assets |
|---|---|---|---|---|---|---|---|
| December 31, 2024 | 990-PF | $1,092,656 | $1,155,555 | -$62,899 | $9,035,463 | $0 | $9,035,463 |
| December 31, 2023 | 990-PF | $2,064,475 | $1,121,032 | $943,443 | $9,098,362 | $0 | $9,098,362 |
Financial details: 990-PF for the year ended December 31, 2024
Revenue
- Contributions, gifts and grants
- $0
- Dividends
- $232,185
- Net rental income
- -$15,015
- Net gain from sales of assets
- $860,471
Expenses
- Grants and similar amounts paid
- $993,790
- Compensation of officers, directors and key employees
- $7,500
- Disbursements for charitable purposes
- $1,002,353
- Excise tax on investment income
- $13,726
Balance sheet and other
- Total assets, start of year
- $9,098,362
- Total assets, end of year
- $9,035,463
- Total liabilities, end of year
- $0
- Net assets, end of year
- $9,035,463
- Fair market value of assets
- $11,928,351
- Qualifying distributions
- $1,002,353
- Net investment income
- $1,092,656
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 December 31, 2024, highest compensation first.
| Name | Title | Hours / week | Compensation |
|---|---|---|---|
| TIMOTHY G GELINSKE 17806 72ND PLACE N, MAPLE GROVE, MN 55311 | DIRECTOR | 10 | $7,500 |
| ERIK M TORGERSON 465 PEAVEY RD, WAYZATA, MN 55391 | DIRECTOR | 0 | $0 |
| RIMA F TORGERSON 465 PEAVEY RD, WAYZATA, MN 55391 | DIRECTOR | 0 | $0 |
990-PF for the year ended December 31, 2023: 3 people
| Name | Title | Hours / week | Compensation |
|---|---|---|---|
| TIMOTHY G GELINSKE 17806 72ND PLACE N, MAPLE GROVE, MN 55311 | DIRECTOR | 10 | $15,000 |
| ERIK M TORGERSON 465 PEAVEY RD, WAYZATA, MN 55391 | DIRECTOR | 0 | $0 |
| RIMA F TORGERSON 465 PEAVEY RD, WAYZATA, MN 55391 | DIRECTOR | 0 | $0 |
Address and contacts
- Address (IRS master file)
- 465 PEAVEY RD, WAYZATA, MN 55391-1544
- In care of
- % RIMA F TORGERSON
- Signed the 990-PF
- ERIK TORGERSON, DIRECTOR
- Phone
- (612) 215-1665
- Return prepared by
- BAKER TILLY ADVISORY GROUP LP
What it must file and when
IRS records say it files Form 990-PF. Private foundations file every year. Its accounting year ends in December, so each return is due on the 15th day of the 5th month after that.
| Tax year | Year ended | Due | IRS public records |
|---|---|---|---|
| 2025 | December 31, 2025 | May 15, 2026 | Not on file |
| 2024 | December 31, 2024 | May 15, 2025 | 990-PF on file |
| 2023 | December 31, 2023 | May 15, 2024 | 990-PF on file |
IRS record
- EIN
- 46-1001245
- 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
- 2013
- Accounting year ends
- December
- Files
- Form 990-PF
- Category (NTEE)
- Philanthropy, voluntarism and grantmaking foundations (T20)
- Assets (IRS master file)
- $9,035,463
- Income (IRS master file)
- $3,862,832
Filing history
| Form | Year ended | Revenue | Expenses | Assets | Return |
|---|---|---|---|---|---|
| 990-PF | December 2024 | $1,092,656 | $1,155,555 | $9,035,463 | IRS |
| 990-PF | December 2023 | $2,064,475 | $1,121,032 | $9,098,362 | XML |
| 990-PF | December 2022 | – | – | – | IRS |
| 990-PF | December 2021 | – | – | – | IRS |
| 990-PF | December 2020 | – | – | – | IRS |
| 990-PF | December 2018 | – | – | – | IRS |
990-N: the IRS bulk file holds only the latest e-Postcard per organization; earlier years come from archived copies of that file since 2020 and can have gaps (the IRS e-Postcard search lists every one). 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 (search EIN 46-1001245).
Questions about TORGERSON FAMILY FOUNDATION
- What is the EIN of TORGERSON FAMILY FOUNDATION?
- The employer identification number (EIN) of TORGERSON FAMILY FOUNDATION is 46-1001245.
- Is TORGERSON FAMILY FOUNDATION tax-exempt?
- Yes. The IRS lists it as tax-exempt under section 501(c)(3) since 2013.
- Are donations to TORGERSON FAMILY FOUNDATION tax-deductible?
- Yes. It is listed in IRS Publication 78 (Private foundation, 30% limit).
- Which annual return does TORGERSON FAMILY FOUNDATION file?
- Form 990-PF. Private foundations file every year.
- When is the next return of TORGERSON FAMILY FOUNDATION due?
- The return for tax year 2025 (the year ending December 31, 2025) is due May 15, 2026. Form 8868 extends it by six months; the 990-N cannot be extended.
- When did TORGERSON FAMILY FOUNDATION last file with the IRS?
- The latest return in the IRS public files is the 990-PF for the year ended December 2024.
- Who are the officers and directors of TORGERSON FAMILY FOUNDATION?
- The 990-PF for the year ended December 31, 2024 lists 3 people; 1 received compensation from the organization, the highest $7,500 (TIMOTHY G GELINSKE, DIRECTOR).
- How much revenue does TORGERSON FAMILY FOUNDATION have?
- On its 990-PF for the year ended December 31, 2024 it reported revenue of $1,092,656, expenses of $1,155,555 and total assets of $9,035,463 at year end.
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All nonprofits in WAYZATA · Minnesota · Philanthropy, voluntarism and grantmaking foundations