Fred C and Katherine B Andersen Foundation
501(c)(3) Donations tax-deductible
Only null% goes to programs Strong reserves
Fred C and Katherine B Andersen Foundation is a 501(c)(3) organization based in Bayport, Minnesota, registered in 1961, with $71,234,857 in FY2024 revenue. CharityIndex grades it B.
Po Box 80, Bayport, MN, 55003 EIN 41-6020920 Since 1961
Revenue (FY2024)
$71.2M
▲ 30.9% vs prior year
Expenses (FY2024)
$62.3M
Net assets
$1.7B
Employees
—
CharityIndex rating
One independent A+ to F grade from four published criteria, each scored separately from IRS filings and combined by weight.
B
—Program efficiency40% of the ratingNo expense breakdown in filings
Measures how much of every dollar spent actually reaches programs, plus what it costs to raise $100 of donations. The worse of the two measures sets the letter (85%+ to programs is an A; under $15 to raise $100 is an A), averaged over the three most recent filings. Not scored for Fred C and Katherine B Andersen Foundation— this filing type doesn't report it, and the rating simply skips it (never counts it against the organization). See the exact thresholds →
B+Financial health25% of the rating322 mo reserves · +13% margin
Measures whether the organization is built to last: how many months its reserves would cover expenses (3+ months earns an A-range score, but hoarding 5+ years of budget is capped) and whether it runs a surplus or a deficit. For Fred C and Katherine B Andersen Foundation: 322 mo reserves · +13% margin earns a B+ on this criterion. See the exact thresholds →
—Governance25% of the ratingNot reported in this filing type
Checks how the organization is run, from its own Form 990: an independent board majority, a board of five or more, conflict-of-interest, whistleblower and document-retention policies, and independently audited financials. The share of disclosed checks that pass sets the letter. Not scored for Fred C and Katherine B Andersen Foundation— this filing type doesn't report it, and the rating simply skips it (never counts it against the organization). See the exact thresholds →
CTransparency10% of the rating2 of 5 disclosure signals
Counts five disclosure signals: a recent filing, a mission statement, program descriptions, a listed website, and the full expense breakdown. More disclosure, better letter. For Fred C and Katherine B Andersen Foundation: 2 of 5 disclosure signals earns a C on this criterion. See the exact thresholds →
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Contact & location
Financial trends
Revenue grew from $35.6M (FY2020) to $71.2M (FY2024) across 5 reported years.
Financial snapshot
Financial health & position (FY2024)
Liabilities $0Net assets $1.7B
Operating margin
12.5%
Revenue exceeded expenses in the latest fiscal year.
Total assets
$1.7B
Total liabilities
$0
Net assets
$1.7B
Financials by year
| Fiscal year | Revenue | Expenses | Net assets | Total assets | Form |
|---|---|---|---|---|---|
| 2024 | $71,234,857▲30.9% | $62,298,755▲14.7% | $1,673,338,615▲13.8% | $1,673,338,615▲13.8% | 990PF |
| 2023 | $54,405,407▼1.6% | $54,327,950▼4.6% | $1,470,022,817▲39.2% | $1,470,022,817▲39.2% | 990PF |
| 2022 | $55,268,450▼12.9% | $56,973,503▲22.4% | $1,056,320,671▼12.8% | $1,056,320,671▼12.8% | 990PF |
| 2021 | $63,445,932▲78.4% | $46,545,545▲12.6% | $1,210,701,778▲16.8% | $1,210,701,778▲16.8% | 990PF |
| 2020 | $35,572,266 | $41,335,249 | $1,036,739,177 | $1,036,739,177 | 990PF |
Original Form 990 PDFs (the Form column) are served by ProPublica Nonprofit Explorer, as filed with the IRS. Create a free account to download the CSV report.
Leadership & compensation (FY2024)
Highest-paid: Kim Borton — $185,221 (0.30% of total expenses)
| Name | Title | Hours/week | Compensation |
|---|---|---|---|
| Kim Borton | President | 40 | $185,221 |
| Mary Gilstrom | Secretary (end 7/2024) | 40 | $62,260 |
| David M Erspamer | Director (end 12/2024) | 1 | — |
| John D Piepel | Director | 1 | — |
| Keith Olson | Vice Chair | 1 | — |
| Peter Clements | Board Chair | 1 | — |
| Tracey Galowitz | Secretary (beg 8/2024) | 1 | — |
| Vern J Hill | Director | 1 | — |
Frequently asked questions
- Is Fred C and Katherine B Andersen Foundation a legitimate nonprofit?
- Yes. Fred C and Katherine B Andersen Foundation is a 501(c)(3) organization registered with the U.S. Internal Revenue Service under EIN 41-6020920, based in Bayport, Minnesota. Donations are tax-deductible.
- What is Fred C and Katherine B Andersen Foundation's EIN?
- Fred C and Katherine B Andersen Foundation's Employer Identification Number (EIN) is 41-6020920.
- How much revenue does Fred C and Katherine B Andersen Foundation report?
- Fred C and Katherine B Andersen Foundation reported $71,234,857 in total revenue on its fiscal year 2024 IRS Form 990 filing.
- What financial grade does Fred C and Katherine B Andersen Foundation have?
- CharityIndex grades Fred C and Katherine B Andersen Foundation B, based on financial health (reserves and operating margin).
- How much does Fred C and Katherine B Andersen Foundation's highest-paid employee make?
- The highest reported compensation on Fred C and Katherine B Andersen Foundation's latest Form 990 is $185,221, paid to Kim Borton (President).
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Data for Fred C and Katherine B Andersen Foundation (EIN 41-6020920) comes from the IRS Business Master File and e-filed Form 990 returns, via CharityIndex. Figures reflect what the organization reported to the IRS for each fiscal year.