Nonprofit · EIN 87-1331226
FOUNDATION X
Tax-exempt · MINNEAPOLIS, MN 55402
Financials
| Year ended | Form | Revenue | Expenses | Net income | Total assets | Liabilities | Net assets |
|---|---|---|---|---|---|---|---|
| December 31, 2024 | 990 | $436,443 | $305,892 | $130,551 | $146,002 | $0 | $146,002 |
| December 31, 2023 | 990 | $215,881 | $234,760 | -$18,879 | $14,766 | $0 | $14,766 |
Financial details: 990 for the year ended December 31, 2024
Revenue
- Contributions, gifts and grants
- $435,702
- Program service revenue
- $0
- Investment income
- $741
- Net gain from sales of assets
- -$7
- Other revenue
- $0
Expenses
- Grants and similar amounts paid
- $300,912
- Salaries, compensation and benefits (total)
- $0
- Professional fundraising fees
- $0
- Legal fees
- $150
- Program services (functional)
- $300,912
- Management and general (functional)
- $4,980
Balance sheet and other
- Total assets, start of year
- $14,766
- Total assets, end of year
- $146,002
- Total liabilities, end of year
- $0
- Net assets, end of year
- $146,002
- Publicly traded securities
- $115,053
- Gross receipts
- $451,968
- Employees
- 0
- Volunteers
- 0
- Year formed
- 2021
- State of legal domicile
- MN
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 for the year ended December 31, 2024, highest compensation first.
| Name | Title | Hours / week | Compensation |
|---|---|---|---|
| ROB NELSON | PRESIDENT Trustee or director, Officer | 1 | $0 |
| SEAN BAENEN | VICE PRESIDENT Trustee or director, Officer | 1 | $0 |
| EMILY VENNERSTROM | SECRETARY & EXEC DIR Trustee or director, Officer | 5 | $0 |
| TODD MOSER | DIRECTOR Trustee or director | 1 | $0 |
| WARD ARMSTRONG | DIRECTOR Trustee or director | 1 | $0 |
990 for the year ended December 31, 2023: 6 people
| Name | Title | Hours / week | Compensation |
|---|---|---|---|
| ROB NELSON | PRESIDENT Trustee or director, Officer | 1 | $0 |
| SEAN BAENEN | VICE PRESIDENT Trustee or director, Officer | 1 | $0 |
| EMILY VENNERSTROM | SECRETARY & EXEC DIR Trustee or director, Officer | 5 | $0 |
| TODD MOSER | DIRECTOR Trustee or director | 1 | $0 |
| WARD ARMSTRONG | DIRECTOR Trustee or director | 1 | $0 |
| JESSICA HUGGENVIK | DIRECTOR Trustee or director | 1 | $0 |
Address and contacts
- Address (IRS master file)
- 225 S 6TH ST STE 1400, MINNEAPOLIS, MN 55402-4654
- In care of
- % EMILY VENNERSTOM
- Principal officer (990 for 2024)
- EMILY VENNERSTROM, 225 SOUTH SIXTH ST 1400, MINNEAPOLIS, MN 55402
- Signed the 990
- EMILY VENNERSTROM, EXECUTIVE DIRECTOR
- Phone
- (612) 367-8800
- Website
- HTTPS://FOUNDATION-X.ORG/
- Return prepared by
- NORTHROCK PARTNERS TAX SERVICES LLC
Mission
TO ACHIEVE A GREATER GOOD FOR ALL THROUGH EFFECTIVE PHILANTHROPY THAT ADVANCES LONG-TERM AND SUSTAINABLE COMMUNITY CHANGE.
Program accomplishments
- THE MISSION OF FOUNDATION X IS TO ACHIEVE A GREATER GOOD FOR ALL THROUGH EFFECTIVE PHILANTHROPY THAT ADVANCES LONG-TERM AND SUSTAINABLE COMMUNITY CHANGE.IN 2024, FOUNDATION X PROVIDED MATCHING FUNDS TO INDIVIDUALS TO ADVANCE THEIR PERSONAL EFFORTS TO GIVE BACK TO THE CAUSES AND COMMUNITIES THEY CARE ABOUT. INCLUDING ORGANIZATIONS LIKE FOSTER LOVE AND WIRED TO GIVE A FACILITATED DONOR EVENT, HIGHLIGHTING ORGANIZATIONS DEDICATED TO ADVANCING EFFECTIVE PHILANTHROPY AND SUPPORTING THEIR MISSIONS THROUGH SHARED CONTRIBUTIONS.Expenses $90,912 · grants $90,912
- FOUNDATION X SERVES AS THE FISCAL SPONSOR FOR THE MCDONOUGH INSTITUTE.Expenses $210,000 · grants $210,000
What it must file and when
IRS records say it files Form 990 or 990-EZ. Based on its last return; a smaller organization may file the 990-N. 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 on file |
| 2023 | December 31, 2023 | May 15, 2024 | 990 on file |
IRS record
- EIN
- 87-1331226
- Tax-exempt status
- 501(c)(3): Charitable, religious, educational or scientific organization
- Foundation status
- Publicly supported organization (170(b)(1)(A)(vi))
- Donations deductible (Pub 78)
- Public charity, 50% deduction limit
- Exempt since
- 2022
- Accounting year ends
- December
- Files
- Form 990 or 990-EZ
- Category (NTEE)
- Philanthropy, voluntarism and grantmaking foundations (T30)
- Assets (IRS master file)
- $146,002
- Income (IRS master file)
- $451,968
Filing history
| Form | Year ended | Revenue | Expenses | Assets | Return |
|---|---|---|---|---|---|
| 990 | December 2024 | $436,443 | $305,892 | $146,002 | XML |
| 990 | December 2023 | $215,881 | $234,760 | $14,766 | XML |
| 990 | December 2022 | -$1,717 | $49,981 | $34,325 | IRS |
| 990 | December 2021 | – | – | – | 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 87-1331226).
Questions about FOUNDATION X
- What is the EIN of FOUNDATION X?
- The employer identification number (EIN) of FOUNDATION X is 87-1331226.
- Is FOUNDATION X tax-exempt?
- Yes. The IRS lists it as tax-exempt under section 501(c)(3) since 2022.
- Are donations to FOUNDATION X tax-deductible?
- Yes. It is listed in IRS Publication 78 (Public charity, 50% deduction limit).
- Which annual return does FOUNDATION X file?
- Form 990 or 990-EZ. Based on its last return; a smaller organization may file the 990-N.
- When is the next return of FOUNDATION X 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 FOUNDATION X last file with the IRS?
- The latest return in the IRS public files is the 990 for the year ended December 2024.
- Who is the principal officer of FOUNDATION X?
- The 990 for the year ended December 31, 2024 names EMILY VENNERSTROM.
- Who are the officers and directors of FOUNDATION X?
- The 990 for the year ended December 31, 2024 lists 5 people; 0 received compensation from the organization.
- How much revenue does FOUNDATION X have?
- On its 990 for the year ended December 31, 2024 it reported revenue of $436,443, expenses of $305,892 and total assets of $146,002 at year end.
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