MINNETONKA PUBLIC SCHOOLS FOUNDATION

EIN: 411569085 501(c)(3)

MINNETONKA, MN

Total Revenue
$472,441
Total Expenses
$332,127
Total Assets
$1,899,866
Net Assets
$1,862,503
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Financial Trends

Organization Details

Formation Year
1986
Legal Domicile
MN
Principal Officer
KRISTINE HOCHBAUM
Phone
9524015040
Tax Period
2024-07-01 to 2025-06-30

MINNETONKA PUBLIC SCHOOLS FOUNDATION, founded in 1986, is a small nonprofit that reported $472K in total revenue in fiscal year 2024. Revenue surged 28% from the prior year, signaling strong growth momentum. The organization ran a surplus of $140K, a strong 30% operating margin.

Mission

TO RAISE AND ALLOCATE FUNDS TO INITIATE AND SUPPORT INNOVATIVE EDUCATIONAL PROGRAMS THAT ENRICH THE LEARNING EXPERIENCES OF ALL STUDENTS SERVED BY THE MINNETONKA PUBLIC SCHOOLS.

Program Service Accomplishments

Program 1
Expenses: $128,288 Revenue: $0

TEACHER GRANT PROGRAM: THE TEACHER GRANT PROGRAM PLAYS A CRITICAL ROLE IN FOSTERING ACADEMIC INNOVATION IN OUR DISTRICT'S CLASSROOMS. EACH YEAR, MINNETONKA TEACHERS SUBMIT GRANT REQUESTS FOR...

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TEACHER GRANT PROGRAM: THE TEACHER GRANT PROGRAM PLAYS A CRITICAL ROLE IN FOSTERING ACADEMIC INNOVATION IN OUR DISTRICT'S CLASSROOMS. EACH YEAR, MINNETONKA TEACHERS SUBMIT GRANT REQUESTS FOR CREATIVE, EDUCATIONAL IDEAS AND PROGRAMS THEY WOULD LIKE TO IMPLEMENT FOR THEIR STUDENTS. FUNDRAISING FOR THE TEACHER GRANT PROGRAM INCLUDES A COMMUNITY WIDE APPEAL EACH FALL, AS WELL AS TWO SPECIAL APPEALS TO HONOR MINNETONKA TEACHER AND STAFF MEMBERS IN DECEMBER AND MAY.

Program 2
Expenses: $56,993 Revenue: $0

BOARD DESIGNATED ENDOWMENT PROGRAM: THE BOARD DESIGNATED ENDOWMENT SUPPORTS EDUCATIONAL INITIATIVES THAT REQUIRE ONGOING FUNDING OR LARGER SUMS THAT CANNOT BE SUPPORTED BY THE ANNUAL TEACHER GRANT...

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BOARD DESIGNATED ENDOWMENT PROGRAM: THE BOARD DESIGNATED ENDOWMENT SUPPORTS EDUCATIONAL INITIATIVES THAT REQUIRE ONGOING FUNDING OR LARGER SUMS THAT CANNOT BE SUPPORTED BY THE ANNUAL TEACHER GRANT PROGRAM. THE BOARD DESIGNATED ENDOWMENT IS MANAGED BY A PROFESSIONAL INVESTMENT FIRM IN ACCORDANCE WITH STRICT INVESTMENT PRINCIPLES IDENTIFIED IN THE FOUNDATION'S BY-LAWS. DREAM MAKERS IS AN ANNUAL COMMUNITY EVENT WHICH RAISES FUNDS PRIMARILY IN SUPPORT OF THE ENDOWMENT.

Program 3
Expenses: $17,105 Revenue: $0

SCHOLARSHIPS AND AWARDS: THE FOUNDATION ACCEPTS DONATIONS TO SUPPORT STUDENT SCHOLARSHIPS, SPECIFIC NEW PROGRAMS FOR THE SCHOOL DISTRICT AND OTHER AWARDS TO ACKNOWLEDGE TEACHER ACHIEVEMENT. EACH OF...

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SCHOLARSHIPS AND AWARDS: THE FOUNDATION ACCEPTS DONATIONS TO SUPPORT STUDENT SCHOLARSHIPS, SPECIFIC NEW PROGRAMS FOR THE SCHOOL DISTRICT AND OTHER AWARDS TO ACKNOWLEDGE TEACHER ACHIEVEMENT. EACH OF THESE FUNDS HAVE THEIR OWN FUND DOCUMENT AND ARE VOTED ON BY BOARD TRUSTEES. FUNDING TYPICALLY COMES FROM A SPECIFIC DONOR WHO WANTS TO START A FUND FOR A SPECIAL PURPOSE.

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Liquidity (40%) • Solvency (30%) • Sustainability (20%) • Efficiency (10%)

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Financial Overview (2024)

Revenue Breakdown

Contributions & Grants $320,217
Program Service Revenue $0
Investment Income $160,524
Other Revenue $-8,300
TOTAL REVENUE $472,441

Expense Breakdown

Grants Paid $176,547
Salaries & Benefits $98,693
Fundraising Expenses $51,727
Program Expenses $202,386
Other Expenses $56,887
TOTAL EXPENSES $332,127

Year-over-Year Comparison

2024 2023 Change
Revenue $472,441 $370,408 +0.3%
Expenses $332,127 $388,408 -0.1%
Net Income $140,314 $-18,000 -8.8%
Key Indicators
Grants to Organizations Grants to Individuals Lobbying Political Activity Foreign Activities Donor Advised Fund Schedule B Required
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Governance

Voting Members
19
Independent Members
19
Employees
2
Volunteers
33

Governance Policies

Conflict of Interest Policy
Whistleblower Policy
Document Retention Policy

Special Practices & Reported Activities

Operated a School
Operated a Hospital
Provided First Class Travel
Reported Conflict of Interest
Reported Asset Diversion
Excess Benefit Transaction
Made Political Expenditures
Engaged in Lobbying
Operated Donor Advised Fund
Maintained Art Collections
Filed Form 720

Compensation of Officers, Directors & Key Employees

Total Officers
5
$70,124
Total Directors
19
$0
Key Employees
0
$0
Highest Compensated
0
reported
Name Title Hours/Week Role Reportable Comp Other Comp Total
AMY GRADY NOMINATING CHAIR 1.00
Officer Director
$0 $0 $0
TROON DOWDS VICE CHAIR 1.00
Officer Director
$0 $0 $0
RENA' DRAGSETH SECRETARY 1.00
Officer Director
$0 $0 $0
BRIAN LANDE TREASURER 1.00
Officer Director
$0 $0 $0
TIM BYRNE TRUSTEE 1.00
Director
$0 $0 $0
REBECCA CHOU TRUSTEE 1.00
Director
$0 $0 $0
KRISTINE HOCHBAUM TRUSTEE 1.00
Director
$0 $0 $0
LAURA FOOTE TRUSTEE 1.00
Director
$0 $0 $0
JAMIE HANSEN TRUSTEE 1.00
Director
$0 $0 $0
JENNY HUANG TRUSTEE 1.00
Director
$0 $0 $0
BRYAN VINCENT TRUSTEE 1.00
Director
$0 $0 $0
MAGGIE KIRCHOFF TRUSTEE 1.00
Director
$0 $0 $0
HEATHER MARKERT TRUSTEE 1.00
Director
$0 $0 $0
JENNIFER ROBINSON TRUSTEE 1.00
Director
$0 $0 $0
WES STRAIT TRUSTEE 1.00
Director
$0 $0 $0
ROBYN THOMAS TRUSTEE 1.00
Director
$0 $0 $0
ABBY WALLIN TRUSTEE 1.00
Director
$0 $0 $0
SABRINA WIXO TRUSTEE 1.00
Director
$0 $0 $0
ROB WOLTER TRUSTEE 1.00
Director
$0 $0 $0
JILL HOWE EXECUTIVE DIRECTOR 30.00
Officer
$70,124 $0 $70,124
Note: Compensation data is self-reported by the organization on their Form 990. "Reportable Comp" includes salary, bonuses, and other reportable compensation from the organization and related organizations. "Other Comp" includes benefits, deferred compensation, and non-taxable benefits.

Historical Data

Year Revenue Expenses Assets Net Income
2025 $472,441 $332,127 $1,899,866 $140,314
2024 $370,408 $388,408 $1,714,989 $-18,000
2023 $344,052 $469,427 $1,649,798 $-125,375
2022 $405,551 $256,920 $1,513,215 $148,631
2021 $346,495 $187,223 $1,756,178 $159,272
2020 $278,632 $211,302 $1,301,655 $67,330
2019 $267,454 $257,326 $1,239,959 $10,128
2018 $275,617 $271,052 $1,252,745 $4,565
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