Nonprofit · EIN 82-2978503
FRIENDS OF THE M
Tax-exempt · ST PAUL, MN 55101
Financials
| Year ended | Form | Revenue | Expenses | Net income | Total assets | Liabilities | Net assets |
|---|---|---|---|---|---|---|---|
| June 30, 2025 | 990 | $223,219 | $110,724 | $112,495 | $102,432 | $1,735,276 | -$1,632,844 |
| June 30, 2024 | 990 | $128,141 | $93,792 | $34,349 | $4,958,896 | $1,879,235 | $3,079,661 |
| June 30, 2023 | 990 | $133,626 | $115,467 | $18,159 | $5,043,833 | $1,998,521 | $3,045,312 |
Financial details: 990 for the year ended June 30, 2025
Revenue
- Contributions, gifts and grants
- $191,989
- Program service revenue
- $31,230
- Investment income
- $0
- Other revenue
- $0
Expenses
- Grants and similar amounts paid
- $0
- Salaries, compensation and benefits (total)
- $0
- Professional fundraising fees
- $0
- Legal fees
- $22,521
- Accounting fees
- $800
- Depreciation
- $6,057
- Program services (functional)
- $84,928
- Management and general (functional)
- $25,796
Balance sheet and other
- Total assets, start of year
- $4,958,896
- Total assets, end of year
- $102,432
- Total liabilities, end of year
- $1,735,276
- Net assets, end of year
- -$1,632,844
- Net assets without donor restrictions
- -$1,632,844
- Gross receipts
- $223,219
- Employees
- 0
- Volunteers
- 4
- Year formed
- 2017
- 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 June 30, 2025, highest compensation first.
| Name | Title | Hours / week | Compensation | From related orgs | Other / benefits |
|---|---|---|---|---|---|
| DR KATE BEANE | DIRECTOR Trustee or director | 1 | $0 | $163,965 | $13,835 |
| JIM RUSTAD | CHAIR Trustee or director, Officer | 1 | $0 | $0 | $0 |
| ANN RUHR PIFER | SECRETARY Trustee or director, Officer | 1 | $0 | $0 | $0 |
| GERRY STENSON | TREASURER Trustee or director, Officer | 1 | $0 | $0 | $0 |
| PATTY WHITAKER | DIRECTOR Trustee or director | 1 | $0 | $0 | $0 |
990 for the year ended June 30, 2024: 5 people
| Name | Title | Hours / week | Compensation | From related orgs | Other / benefits |
|---|---|---|---|---|---|
| DR KATE BEANE | DIRECTOR Trustee or director | 1 | $0 | $152,720 | $13,111 |
| JIM RUSTAD | CHAIR Trustee or director, Officer | 1 | $0 | $0 | $0 |
| BETH BERGMAN | SECRETARY Trustee or director, Officer | 1 | $0 | $0 | $0 |
| WALTER LEHMANN | TREASURER Trustee or director, Officer | 1 | $0 | $0 | $0 |
| GREGORY PAGE | DIRECTOR Trustee or director | 1 | $0 | $0 | $0 |
990 for the year ended June 30, 2023: 5 people
| Name | Title | Hours / week | Compensation | From related orgs | Other / benefits |
|---|---|---|---|---|---|
| DR KATE BEANE | DIRECTOR Trustee or director | 1 | $0 | $149,093 | $12,670 |
| JIM RUSTAD | CHAIR Trustee or director, Officer | 1 | $0 | $0 | $0 |
| BETH BERGMAN | SECRETARY Trustee or director, Officer | 1 | $0 | $0 | $0 |
| WALTER LEHMANN | TREASURER Trustee or director, Officer | 1 | $0 | $0 | $0 |
| GREGORY PAGE | DIRECTOR Trustee or director | 1 | $0 | $0 | $0 |
Address and contacts
- Address (IRS master file)
- 350 ROBERT STREET NORTH, ST PAUL, MN 55101-1512
- In care of
- % KRISTIN MAKHOLM
- Principal officer (990 for 2024)
- KATHERINE BEANE, 350 ROBERT STREET NORTH, ST PAUL, MN 55101
- Signed the 990
- KATHERINE BEANE, EXECUTIVE DIRECTOR
- Phone
- (651) 797-4057
- Return prepared by
- MAHONEY ULBRICH CHRISTIANSEN & RUSS PA
Mission
FRIENDS OF THE M IS ORGANIZED AND WILL OPERATE EXCLUSIVELY FOR CHARITABLE AND EDUCATIONAL PURPOSES, AND EXCLUSIVELY FOR THE BENEFIT OF, TO SUPPORT THE FUNCTIONS OF, AND TO ASSIST IN CARRYING OUT THE PURPOSE OF MINNESOTA MUSEUM OF AMERICAN ART, A MINNESOTA NONPROFIT CORPORATION.
Program accomplishments
- DURING 2017, FRIENDS OF THE M SECURED NEW MARKETS TAX CREDITS. AS PART OF THE PROJECT, FRIENDS OF THE M WAS INCORPORATED TO SUPPORT MINNESOTA MUSEUM OF AMERICAN ART AND FACILITATE THE FINANCING.Expenses $84,928 · revenue $31,230
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 June, so each return is due on the 15th day of the 5th month after that.
| Tax year | Year ended | Due | IRS public records |
|---|---|---|---|
| 2025 | June 30, 2026 | November 16, 2026 | Not due yet |
| 2024 | June 30, 2025 | November 17, 2025 | 990 on file |
| 2023 | June 30, 2024 | November 15, 2024 | 990 on file |
IRS record
- EIN
- 82-2978503
- Tax-exempt status
- 501(c)(3): Charitable, religious, educational or scientific organization
- Foundation status
- Supporting organization, Type I
- Donations deductible (Pub 78)
- Supporting organization, 50% limit
- Exempt since
- 2018
- Accounting year ends
- June
- Files
- Form 990 or 990-EZ
- Category (NTEE)
- Arts, culture and humanities (A11)
- Assets (IRS master file)
- $102,432
- Income (IRS master file)
- $223,219
Filing history
| Form | Year ended | Revenue | Expenses | Assets | Return |
|---|---|---|---|---|---|
| 990 | June 2025 | $223,219 | $110,724 | $102,432 | IRS |
| 990 | June 2024 | $128,141 | $93,792 | $4,958,896 | IRS |
| 990 | June 2023 | $133,626 | $115,467 | $5,043,833 | XML |
| 990 | June 2022 | $135,075 | $101,264 | $5,123,466 | IRS |
| 990 | June 2021 | – | – | – | IRS |
| 990 | June 2020 | – | – | – | IRS |
| 990 | June 2019 | – | – | – | IRS |
| 990 | June 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 82-2978503).
Questions about FRIENDS OF THE M
- What is the EIN of FRIENDS OF THE M?
- The employer identification number (EIN) of FRIENDS OF THE M is 82-2978503.
- Is FRIENDS OF THE M tax-exempt?
- Yes. The IRS lists it as tax-exempt under section 501(c)(3) since 2018.
- Are donations to FRIENDS OF THE M tax-deductible?
- Yes. It is listed in IRS Publication 78 (Supporting organization, 50% limit).
- Which annual return does FRIENDS OF THE M 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 FRIENDS OF THE M due?
- The return for tax year 2025 (the year ending June 30, 2026) is due November 16, 2026. Form 8868 extends it by six months; the 990-N cannot be extended.
- When did FRIENDS OF THE M last file with the IRS?
- The latest return in the IRS public files is the 990 for the year ended June 2025.
- Who is the principal officer of FRIENDS OF THE M?
- The 990 for the year ended June 30, 2025 names KATHERINE BEANE.
- Who are the officers and directors of FRIENDS OF THE M?
- The 990 for the year ended June 30, 2025 lists 5 people; 0 received compensation from the organization.
- How much revenue does FRIENDS OF THE M have?
- On its 990 for the year ended June 30, 2025 it reported revenue of $223,219, expenses of $110,724 and total assets of $102,432 at year end.
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