Nonprofit · EIN 36-3608625
BETTER WAY FOUNDATION
Tax-exempt · MINNEAPOLIS, MN 55402
Financials
| Year ended | Form | Revenue | Expenses | Net income | Total assets | Liabilities | Net assets |
|---|---|---|---|---|---|---|---|
| December 31, 2024 | 990-PF | $1,364,999 | $3,004,642 | -$1,639,643 | $68,241,965 | $1,613,034 | $66,628,931 |
| December 31, 2023 | 990-PF | $5,095,584 | $3,617,435 | $1,478,149 | $68,241,414 | $2,247,959 | $65,993,455 |
Financial details: 990-PF for the year ended December 31, 2024
Revenue
- Dividends
- $530,021
- Net gain from sales of assets
- -$156,072
- Other income
- $991,050
Expenses
- Grants and similar amounts paid
- $2,015,000
- Compensation of officers, directors and key employees
- $0
- Disbursements for charitable purposes
- $3,464,464
- Excise tax on investment income
- $18,409
Balance sheet and other
- Total assets, start of year
- $68,241,414
- Total assets, end of year
- $68,241,965
- Total liabilities, end of year
- $1,613,034
- Net assets, end of year
- $66,628,931
- Fair market value of assets
- $68,241,965
- Qualifying distributions
- $3,464,464
- Net investment income
- $2,419,154
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 | Other / benefits |
|---|---|---|---|---|
| Nicholas Banovetz Suite 2950 60 South 6th Street, Minneapolis, MN 55402 | Vice President | 40 | $202,965 | $52,563 |
| Kristen Grubb Suite 2950 60 South 6th Street, Minneapolis, MN 55402 | Tax Officer | 6 | $13,333 | $2,403 |
| Karen Rauenhorst Suite 2950 60 South 6th Street, Minneapolis, MN 55402 | Chair/President | 1 | $0 | $0 |
| Judy Rauenhorst Doerr Suite 2950 60 South 6th Street, Minneapolis, MN 55402 | Chair-elect | 1 | $0 | $0 |
| Janine Geske Suite 2950 60 South 6th Street, Minneapolis, MN 55402 | Vice Chair/Secretary | 1 | $0 | $0 |
| Stephanie Russell Suite 2950 60 South 6th Street, Minneapolis, MN 55402 | Treasurer | 1 | $0 | $0 |
| Anita Fineday Suite 2950 60 South 6th Street, Minneapolis, MN 55402 | Director | 1 | $0 | $0 |
| Cary Buzzelli Suite 2950 60 South 6th Street, Minneapolis, MN 55402 | Director | 1 | $0 | $0 |
| Gia Rauenhorst Suite 2950 60 South 6th Street, Minneapolis, MN 55402 | Director | 1 | $0 | $0 |
| Shamsia Ramadhan Suite 2950 60 South 6th Street, Minneapolis, MN 55402 | Director | 1 | $0 | $0 |
| Tarajean Yazzie-Mintz Suite 2950 60 South 6th Street, Minneapolis, MN 55402 | Director | 1 | $0 | $0 |
990-PF for the year ended December 31, 2023: 11 people
| Name | Title | Hours / week | Compensation | Other / benefits |
|---|---|---|---|---|
| Nicholas Banovetz Suite 2950 60 South 6th Street, Minneapolis, MN 55402 | Vice President | 40 | $182,634 | $44,189 |
| Kristen Grubb Suite 2950 60 South 6th Street, Minneapolis, MN 55402 | Tax Officer | 6 | $12,497 | $2,114 |
| Karen Rauenhorst Suite 2950 60 South 6th Street, Minneapolis, MN 55402 | President/Chair | 1 | $0 | $0 |
| Janine Geske Suite 2950 60 South 6th Street, Minneapolis, MN 55402 | Secretary/Vice Chair | 1 | $0 | $0 |
| Stephanie Russell Suite 2950 60 South 6th Street, Minneapolis, MN 55402 | Treasurer | 1 | $0 | $0 |
| Cary Buzzelli Suite 2950 60 South 6th Street, Minneapolis, MN 55402 | Director | 1 | $0 | $0 |
| Cindy Hughes Suite 2950 60 South 6th Street, Minneapolis, MN 55402 | Director | 1 | $0 | $0 |
| Judy Rauenhorst Doerr Suite 2950 60 South 6th Street, Minneapolis, MN 55402 | Director | 1 | $0 | $0 |
| Shamsia Ramadhan Suite 2950 60 South 6th Street, Minneapolis, MN 55402 | Director | 1 | $0 | $0 |
| Tarajean Yazzie-Mintz Suite 2950 60 South 6th Street, Minneapolis, MN 55402 | Director | 1 | $0 | $0 |
| Patrice Kunesh 1123-3823 Suite 2950 60 South 6th Street, Minneapolis, MN 55402 | Director | 1 | $0 | $0 |
Address and contacts
- Address (IRS master file)
- 60 S 6TH ST STE 2950, MINNEAPOLIS, MN 55402-2535
- In care of
- % ADLER MANAGEMENT L L C
- Signed the 990-PF
- Kristen Grubb, Tax Officer
- Phone
- (612) 440-2500
- Return prepared by
- Eide Bailly LLP
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
- 36-3608625
- 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
- 1988
- Accounting year ends
- December
- Files
- Form 990-PF
- Assets (IRS master file)
- $68,241,965
- Income (IRS master file)
- $1,521,071
Filing history
| Form | Year ended | Revenue | Expenses | Assets | Return |
|---|---|---|---|---|---|
| 990-PF | December 2024 | $1,364,999 | $3,004,642 | $68,241,965 | XML |
| 990-T | December 2024 | – | – | – | IRS |
| 990-PF | December 2023 | $5,095,584 | $3,617,435 | $68,241,414 | XML |
| 990-T | December 2023 | – | – | – | IRS |
| 990-PF | December 2022 | – | – | – | IRS |
| 990-T | December 2022 | – | – | – | IRS |
| 990-PF | December 2021 | – | – | – | IRS |
| 990-T | December 2021 | – | – | – | IRS |
| 990-PF | December 2020 | – | – | – | IRS |
| 990-T | December 2020 | – | – | – | 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 36-3608625).
Questions about BETTER WAY FOUNDATION
- What is the EIN of BETTER WAY FOUNDATION?
- The employer identification number (EIN) of BETTER WAY FOUNDATION is 36-3608625.
- Is BETTER WAY FOUNDATION tax-exempt?
- Yes. The IRS lists it as tax-exempt under section 501(c)(3) since 1988.
- Are donations to BETTER WAY FOUNDATION tax-deductible?
- Yes. It is listed in IRS Publication 78 (Private foundation, 30% limit).
- Which annual return does BETTER WAY FOUNDATION file?
- Form 990-PF. Private foundations file every year.
- When is the next return of BETTER WAY 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 BETTER WAY 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 BETTER WAY FOUNDATION?
- The 990-PF for the year ended December 31, 2024 lists 11 people; 2 received compensation from the organization, the highest $202,965 (Nicholas Banovetz, Vice President).
- How much revenue does BETTER WAY FOUNDATION have?
- On its 990-PF for the year ended December 31, 2024 it reported revenue of $1,364,999, expenses of $3,004,642 and total assets of $68,241,965 at year end.
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