Nonprofit · EIN 36-3485265
WALLESTAD FOUNDATION
Tax-exempt · MINNEAPOLIS, MN 55402
Financials
| Year ended | Form | Revenue | Expenses | Net income | Total assets | Liabilities | Net assets |
|---|---|---|---|---|---|---|---|
| December 31, 2024 | 990-PF | $795,831 | $660,493 | $135,338 | $7,579,079 | $0 | $7,579,079 |
| December 31, 2023 | 990-PF | $886,804 | $669,175 | $217,629 | $7,443,741 | $0 | $7,443,741 |
Financial details: 990-PF for the year ended December 31, 2024
Revenue
- Dividends
- $323,514
- Interest
- $72,473
- Net gain from sales of assets
- $394,500
- Other income
- $5,344
Expenses
- Grants and similar amounts paid
- $337,000
- Compensation of officers, directors and key employees
- $50,000
- Disbursements for charitable purposes
- $379,848
- Excise tax on investment income
- $6,164
Balance sheet and other
- Total assets, start of year
- $7,443,741
- Total assets, end of year
- $7,579,079
- Total liabilities, end of year
- $0
- Net assets, end of year
- $7,579,079
- Fair market value of assets
- $10,658,554
- Qualifying distributions
- $379,848
- Net investment income
- $714,043
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 |
|---|---|---|---|
| ANDY BENNETT 7701 FRANCE AVE S SUITE 360, EDINA, MN 55435 | PRESIDENT | 7 | $50,000 |
| JAY L BENNETT 7701 FRANCE AVE S SUITE 360, EDINA, MN 55435 | DIRECTOR | 5 | $0 |
| WILLIAM DUNKLEY 3405 ANNAPOLIS LN N 100, PLYMOUTH, MN 55447 | DIRECTOR | 1 | $0 |
| ANDREW GIERTSEN 8385 10TH AVE N, GOLDEN VALLEY, MN 55427 | DIRECTOR | 1 | $0 |
990-PF for the year ended December 31, 2023: 4 people
| Name | Title | Hours / week | Compensation |
|---|---|---|---|
| ANDY BENNETT 7701 FRANCE AVE S SUITE 360, EDINA, MN 55435 | PRESIDENT | 7 | $50,000 |
| JAY L BENNETT 7701 FRANCE AVE S SUITE 360, EDINA, MN 55435 | DIRECTOR | 5 | $0 |
| WILLIAM DUNKLEY 3405 ANNAPOLIS LN N 100, PLYMOUTH, MN 55447 | DIRECTOR | 1 | $0 |
| ANDREW GIERTSEN 8385 10TH AVE N, GOLDEN VALLEY, MN 55427 | DIRECTOR | 1 | $0 |
Address and contacts
- Address (IRS master file)
- 730 2ND AVE S SUITE 415, MINNEAPOLIS, MN 55402-3400
- In care of
- % JAY BENNETT
- Signed the 990-PF
- ANDREW BENNETT, PRESIDENT
- Phone
- (612) 288-2292
- Return prepared by
- EISNER ADVISORY GROUP LLC
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
- 36-3485265
- 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
- 1987
- Accounting year ends
- December
- Files
- Form 990-PF
- Assets (IRS master file)
- $7,579,079
- Income (IRS master file)
- $2,711,084
Filing history
| Form | Year ended | Revenue | Expenses | Assets | Return |
|---|---|---|---|---|---|
| 990-PF | December 2024 | $795,831 | $660,493 | $7,579,079 | IRS |
| 990-PF | December 2023 | $886,804 | $669,175 | $7,443,741 | XML |
| 990-PF | December 2022 | – | – | – | IRS |
| 990-PF | December 2021 | – | – | – | IRS |
| 990-PF | December 2020 | – | – | – | IRS |
| 990-PF | December 2018 | – | – | – | IRS |
| 990-PF | December 2017 | – | – | – | 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 36-3485265).
Questions about WALLESTAD FOUNDATION
- What is the EIN of WALLESTAD FOUNDATION?
- The employer identification number (EIN) of WALLESTAD FOUNDATION is 36-3485265.
- Is WALLESTAD FOUNDATION tax-exempt?
- Yes. The IRS lists it as tax-exempt under section 501(c)(3) since 1987.
- Are donations to WALLESTAD FOUNDATION tax-deductible?
- Yes. It is listed in IRS Publication 78 (Private foundation, 30% limit).
- Which annual return does WALLESTAD FOUNDATION file?
- Form 990-PF. Private foundations file every year.
- When is the next return of WALLESTAD 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 WALLESTAD 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 WALLESTAD FOUNDATION?
- The 990-PF for the year ended December 31, 2024 lists 4 people; 1 received compensation from the organization, the highest $50,000 (ANDY BENNETT, PRESIDENT).
- How much revenue does WALLESTAD FOUNDATION have?
- On its 990-PF for the year ended December 31, 2024 it reported revenue of $795,831, expenses of $660,493 and total assets of $7,579,079 at year end.
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