Edward And Hannah Gustafson Foundation

Crosslake, MN
Tax-exempt since Dec. 2003
EIN: 86-1052101

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Type of Nonprofit

Designated as a 501(c)(3) Organizations for any of the following purposes: religious, educational, charitable, scientific, literary, testing for public safety, fostering national or international amateur sports competition (as long as it doesn't provide athletic facilities or equipment), or the prevention of cruelty to children or animals.

Category: Philanthropy, Voluntarism and Grantmaking Foundations / Private Independent Foundations (NTEE)

Donations to this organization are not tax deductible.

Revenue

$15k (2024)

Expenses

$19.4k (2024)

Total Assets

$279k (2024)

Total Liabilities

$0 (2024)

Source: Form 990 tax filings from 2011 to 2024

Tax Filings by Year

Form 990 is an information return that most organizations claiming federal tax-exempt status must file yearly with the IRS. Nonprofit Explorer has IRS digitized Form 990 data for filings processed in 2012 and later. If this organization filed an amended return, it may not be reflected below. Duplicate download links may indicate a resubmission or amendment to this organization's original return. Form 990 data is from the IRS.

Fiscal Year Ending Dec.
2024

Revenue

$15,016

Expenses

$19,379

Net Income

-$4,363

Net Assets

$279,264

Notable Sources of Revenue		Percent of Total Revenue
Contributions Received	$0
Interest Revenue	$0
Dividends	$15,016	100%
Sales of Assets	$0
Other Income	$0

Notable Expenses		Percent of Total Expenses
Charitable Disbursements	$12,600	65.0%
Compensation of Officers*	$5,777	29.8%
* Officer compensation may be included in charitable disbursements, so Percent of Total Expenses may add up to greater than 100%.

Assets/Debt
Total Assets	$279,264
Total Liabilities	$0
Net Assets	$279,264

Compensation

Key Employees and Officers	Compensation	Other
Mike Foschi (President)	$5,777	$0
Claudia Foschi (Director)	$0	$0
Cindy Rodmann (Director)	$0	$0

990-PF

Filed on Sept. 18, 2025

Primary tax return for a private foundation's activities, finances, and governance

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Fiscal Year Ending Dec.
2023

Revenue

$52,956

Expenses

$17,235

Net Income

$35,721

Net Assets

$251,251

Notable Sources of Revenue		Percent of Total Revenue
Contributions Received	$0
Interest Revenue	$0
Dividends	$0
Sales of Assets	$52,956	100%
Other Income	$0

Notable Expenses		Percent of Total Expenses
Charitable Disbursements	$9,500	55.1%
Compensation of Officers*	$5,057	29.3%
* Officer compensation may be included in charitable disbursements, so Percent of Total Expenses may add up to greater than 100%.

Assets/Debt
Total Assets	$251,251
Total Liabilities	$0
Net Assets	$251,251

Compensation

Key Employees and Officers	Compensation	Other
Mike Foscihi (President)	$5,057	$0
Claudia Foschi (Director)	$0	$0
Cindy Redmann (Directoe)	$0	$0

990-PF

Filed on Aug. 10, 2024

Primary tax return for a private foundation's activities, finances, and governance

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XML

Fiscal Year Ending Dec.
2022

Revenue

-$44,568

Expenses

$24,796

Net Income

-$69,364

Net Assets

$252,861

Notable Sources of Revenue		Percent of Total Revenue
Contributions Received	$0
Interest Revenue	$0
Dividends	$1,806
Sales of Assets	-$46,374
Other Income	$0

Notable Expenses		Percent of Total Expenses
Charitable Disbursements	$14,200	57.3%
Compensation of Officers*	$7,758	31.3%
* Officer compensation may be included in charitable disbursements, so Percent of Total Expenses may add up to greater than 100%.

Assets/Debt
Total Assets	$252,861
Total Liabilities	$0
Net Assets	$252,861

Compensation

Key Employees and Officers	Compensation	Other
Mike Foschi (President)	$7,758	$0
Claudia Foschi (Director)	$0	$0
Cindy Redmann (Director)	$0	$0

990-PF

Filed on May 16, 2023

Primary tax return for a private foundation's activities, finances, and governance

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XML

Fiscal Year Ending Dec.
2021

Revenue

$101,078

Expenses

$22,718

Net Income

$78,360

Net Assets

$387,894

Notable Sources of Revenue		Percent of Total Revenue
Contributions Received	$0
Interest Revenue	$2,733	2.7%
Dividends	$1,367	1.4%
Sales of Assets	$96,978	95.9%
Other Income	$0

Notable Expenses		Percent of Total Expenses
Charitable Disbursements	$14,400	63.4%
Compensation of Officers*	$6,191	27.3%
* Officer compensation may be included in charitable disbursements, so Percent of Total Expenses may add up to greater than 100%.

Assets/Debt
Total Assets	$387,894
Total Liabilities	$0
Net Assets	$387,894

Compensation

Key Employees and Officers	Compensation	Other
Mike Foschi (President)	$6,191	$0
Claudia Foschi (Director)	$0	$0
Cindy Redmann (Director)	$0	$0

990-PF

Filed on April 25, 2022

Primary tax return for a private foundation's activities, finances, and governance

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XML

Fiscal Year Ending Dec.
2020

Revenue

-$136,536

Expenses

$26,559

Net Income

-$163,095

Net Assets

$309,533

Notable Sources of Revenue		Percent of Total Revenue
Contributions Received	$0
Interest Revenue	$2,679
Dividends	$7,365
Sales of Assets	$0
Other Income	$0

Notable Expenses		Percent of Total Expenses
Charitable Disbursements	$15,100	56.9%
Compensation of Officers*	$9,453	35.6%
* Officer compensation may be included in charitable disbursements, so Percent of Total Expenses may add up to greater than 100%.

Assets/Debt
Total Assets	$309,534
Total Liabilities	$1
Net Assets	$309,533

Compensation

Key Employees and Officers	Compensation	Other
Mike Foschi (President)	$9,453	$0
Claudia Foschi (Director)	$0	$0
Cindy Redmann (Director)	$0	$0

990-PF

Filed on May 14, 2021

Primary tax return for a private foundation's activities, finances, and governance

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Fiscal Year Ending Dec.
2019

Revenue

$25,604

Expenses

$21,078

Net Income

$4,526

Net Assets

$472,628

Notable Sources of Revenue		Percent of Total Revenue
Contributions Received	$0
Interest Revenue	$3,226	12.6%
Dividends	$7,661	29.9%
Sales of Assets	$12,009	46.9%
Other Income	$2,708	10.6%

Notable Expenses		Percent of Total Expenses
Charitable Disbursements	$10,200	48.4%
Compensation of Officers*	$8,356	39.6%
* Officer compensation may be included in charitable disbursements, so Percent of Total Expenses may add up to greater than 100%.

Assets/Debt
Total Assets	$472,629
Total Liabilities	$1
Net Assets	$472,628

Compensation

Key Employees and Officers	Compensation	Other
Mike Foschi (President)	$8,356	$0
Claudia Foschi (Director)	$0	$0
Cindy Redmann (Director)	$0	$0

990-PF

Filed on July 1, 2020

Primary tax return for a private foundation's activities, finances, and governance

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PDF XML

Fiscal Year Ending Dec.
2018

Revenue

$21,315

Expenses

$24,506

Net Income

-$3,191

Net Assets

$468,103

Notable Sources of Revenue		Percent of Total Revenue
Contributions Received	$0
Interest Revenue	$3,628	17.0%
Dividends	$14,057	65.9%
Sales of Assets	-$8,620
Other Income	$0

Notable Expenses		Percent of Total Expenses
Charitable Disbursements	$9,500	38.8%
Compensation of Officers*	$8,566	35.0%
* Officer compensation may be included in charitable disbursements, so Percent of Total Expenses may add up to greater than 100%.

Assets/Debt
Total Assets	$468,103
Total Liabilities	$0
Net Assets	$468,103

Compensation

Key Employees and Officers	Compensation	Other
Mike Foschi (President)	$8,566	$0
Claudia Foschi (Director)	$0	$0
Cindy Redmann (Director)	$0	$0

990-PF

Filed on May 15, 2019

Primary tax return for a private foundation's activities, finances, and governance

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Fiscal Year Ending Dec.
2017

Revenue

$37,862

Expenses

$26,371

Net Income

$11,491

Net Assets

$471,294

Notable Sources of Revenue		Percent of Total Revenue
Contributions Received	$0
Interest Revenue	$13,889	36.7%
Dividends	$5,892	15.6%
Sales of Assets	$0
Other Income	$3,592	9.5%

Notable Expenses		Percent of Total Expenses
Charitable Disbursements	$12,000	45.5%
Compensation of Officers*	$8,363	31.7%
* Officer compensation may be included in charitable disbursements, so Percent of Total Expenses may add up to greater than 100%.

Assets/Debt
Total Assets	$471,294
Total Liabilities	$0
Net Assets	$471,294

Compensation

Key Employees and Officers	Compensation	Other
Mike Foschi (President)	$8,363	$0
Claudia Foschi (Director)	$0	$0
Cindy Redmann (Director)	$0	$0

990-PF

Filed on May 11, 2018

Primary tax return for a private foundation's activities, finances, and governance

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XML

Fiscal Year Ending Dec.
2016

Revenue

$32,058

Expenses

$36,537

Net Income

-$4,479

Net Assets

$459,803

Notable Sources of Revenue		Percent of Total Revenue
Contributions Received	$0
Interest Revenue	$2,094	6.5%
Dividends	$10,831	33.8%
Sales of Assets	$7,325	22.8%
Other Income	$0

Notable Expenses		Percent of Total Expenses
Charitable Disbursements	$22,500	61.6%
Compensation of Officers*	$8,502	23.3%
* Officer compensation may be included in charitable disbursements, so Percent of Total Expenses may add up to greater than 100%.

Assets/Debt
Total Assets	$459,803
Total Liabilities	$0
Net Assets	$459,803

Compensation

Key Employees and Officers	Compensation	Other
Mike Foschi (President)	$8,502	$0
Claudia Foschi (Director)	$0	$0
Cindy Redmann (Director)	$0	$0

990-PF

Filed on May 15, 2017

Primary tax return for a private foundation's activities, finances, and governance

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Fiscal Year Ending Dec.
2015

Revenue

-$51,674

Expenses

$54,452

Net Income

-$106,126

Net Assets

$464,282

Notable Sources of Revenue		Percent of Total Revenue
Contributions Received	$0
Interest Revenue	$9
Dividends	$1,575
Sales of Assets	-$65,066
Other Income	$0

Notable Expenses		Percent of Total Expenses
Charitable Disbursements	$25,500	46.8%
Compensation of Officers*	$10,482	19.2%
* Officer compensation may be included in charitable disbursements, so Percent of Total Expenses may add up to greater than 100%.

Assets/Debt
Total Assets	$464,282
Total Liabilities	$0
Net Assets	$464,282

Compensation

Key Employees and Officers	Compensation	Other
Mike Foschi (President)	$10,482	$0
Claudia Foschi (Director)	$0	$0
Cindy Redmann (Director)	$0	$0

990-PF

Filed on May 10, 2016

Primary tax return for a private foundation's activities, finances, and governance

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Fiscal Year Ending Dec.
2014

Revenue

$80,442

Expenses

$62,681

Net Income

$17,761

Net Assets

$570,408

Notable Sources of Revenue		Percent of Total Revenue
Contributions Received	$0
Interest Revenue	$1	0.0%
Dividends	$3,249	4.0%
Sales of Assets	$53,434	66.4%
Other Income	$214	0.3%

Notable Expenses		Percent of Total Expenses
Charitable Disbursements	$29,000	46.3%
Compensation of Officers*	$11,622	18.5%
* Officer compensation may be included in charitable disbursements, so Percent of Total Expenses may add up to greater than 100%.

Assets/Debt
Total Assets	$570,708
Total Liabilities	$300
Net Assets	$570,408

Compensation

Key Employees and Officers	Compensation	Other
Mike Foschi (President)	$10,422	$0
Claudia Foschi (Director)	$1,200	$0
Cindy Redmann (Director)	$0	$0

990-PF

Filed on May 12, 2015

Primary tax return for a private foundation's activities, finances, and governance

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Fiscal Year Ending Dec.
2013

Revenue

$89,022

Expenses

$77,707

Net Income

$11,315

Net Assets

$552,647

Notable Sources of Revenue		Percent of Total Revenue
Contributions Received	$0
Interest Revenue	$4	0.0%
Dividends	$2,730	3.1%
Sales of Assets	$47,508	53.4%
Other Income	$1,161	1.3%

Notable Expenses		Percent of Total Expenses
Charitable Disbursements	$26,600	34.2%
Compensation of Officers*	$12,669	16.3%
* Officer compensation may be included in charitable disbursements, so Percent of Total Expenses may add up to greater than 100%.

Assets/Debt
Total Assets	$567,947
Total Liabilities	$15,300
Net Assets	$552,647

990-PF

Primary tax return for a private foundation's activities, finances, and governance

PDF

Fiscal Year Ending Dec.
2012

Revenue

$54,177

Expenses

$71,145

Net Income

-$16,968

Net Assets

$541,332

Notable Sources of Revenue		Percent of Total Revenue
Contributions Received	$0
Interest Revenue	$23	0.0%
Dividends	$1,378	2.5%
Sales of Assets	$24,994	46.1%
Other Income	$72	0.1%

Notable Expenses		Percent of Total Expenses
Charitable Disbursements	$26,500	37.2%
Compensation of Officers*	$13,315	18.7%
* Officer compensation may be included in charitable disbursements, so Percent of Total Expenses may add up to greater than 100%.

Assets/Debt
Total Assets	$578,374
Total Liabilities	$37,042
Net Assets	$541,332

990-PF

Primary tax return for a private foundation's activities, finances, and governance

PDF

Fiscal Year Ending Dec.
2011

Revenue

$54,041

Expenses

$60,425

Net Income

-$6,384

Net Assets

$558,300

Notable Sources of Revenue		Percent of Total Revenue
Contributions Received	$0
Interest Revenue	$1	0.0%
Dividends	$0
Sales of Assets	$25,112	46.5%
Other Income	$431	0.8%

Notable Expenses		Percent of Total Expenses
Charitable Disbursements	$5,670	9.4%
Compensation of Officers*	$14,900	24.7%
* Officer compensation may be included in charitable disbursements, so Percent of Total Expenses may add up to greater than 100%.

Assets/Debt
Total Assets	$621,508
Total Liabilities	$63,208
Net Assets	$558,300

Nonprofit Explorer includes summary data for nonprofit tax returns and full Form 990 documents, in both PDF and digital formats.

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Edward And Hannah Gustafson Foundation

Organization summary

Type of Nonprofit

Summary charts: organization finances over time

Revenue $15k (2024)

Expenses $19.4k (2024)

Total Assets $279k (2024)

Total Liabilities $0 (2024)

Tax Filings by Year

Fiscal Year Ending Dec. 2024

Extracted Financial Data

Extracted Financial Data from Form 990-PF

Compensation

Document Links

990-PF

Fiscal Year Ending Dec. 2023

Extracted Financial Data

Extracted Financial Data from Form 990-PF

Compensation

Document Links

990-PF

Fiscal Year Ending Dec. 2022

Extracted Financial Data

Extracted Financial Data from Form 990-PF

Compensation

Document Links

990-PF

Fiscal Year Ending Dec. 2021

Extracted Financial Data

Extracted Financial Data from Form 990-PF

Compensation

Document Links

990-PF

Fiscal Year Ending Dec. 2020

Extracted Financial Data

Extracted Financial Data from Form 990-PF

Compensation

Document Links

990-PF

Fiscal Year Ending Dec. 2019

Extracted Financial Data

Extracted Financial Data from Form 990-PF

Compensation

Document Links

990-PF

Fiscal Year Ending Dec. 2018

Extracted Financial Data

Extracted Financial Data from Form 990-PF

Compensation

Document Links

990-PF

Fiscal Year Ending Dec. 2017

Extracted Financial Data

Extracted Financial Data from Form 990-PF

Compensation

Document Links

990-PF

Fiscal Year Ending Dec. 2016

Extracted Financial Data

Extracted Financial Data from Form 990-PF

Compensation

Document Links

990-PF

Fiscal Year Ending Dec. 2015

Extracted Financial Data

Extracted Financial Data from Form 990-PF

Compensation

Document Links

990-PF

Fiscal Year Ending Dec. 2014

Extracted Financial Data

Extracted Financial Data from Form 990-PF

Compensation

Document Links

990-PF

Fiscal Year Ending Dec. 2013

Extracted Financial Data

Extracted Financial Data from Form 990-PF

Document Links

990-PF

Revenue

$15k (2024)

Expenses

$19.4k (2024)

Total Assets

$279k (2024)

Total Liabilities

$0 (2024)

Fiscal Year Ending Dec.
2024

Fiscal Year Ending Dec.
2023

Fiscal Year Ending Dec.
2022

Fiscal Year Ending Dec.
2021

Fiscal Year Ending Dec.
2020

Fiscal Year Ending Dec.
2019

Fiscal Year Ending Dec.
2018

Fiscal Year Ending Dec.
2017

Fiscal Year Ending Dec.
2016

Fiscal Year Ending Dec.
2015

Fiscal Year Ending Dec.
2014

Fiscal Year Ending Dec.
2013

Fiscal Year Ending Dec.
2012

Fiscal Year Ending Dec.
2011

Fiscal Year Ending Dec.
2010

Fiscal Year Ending Dec.
2009

Fiscal Year Ending Dec.
2008

Fiscal Year Ending Dec.
2007

Fiscal Year Ending Dec.
2006

Fiscal Year Ending Dec.
2005

Fiscal Year Ending Dec.
2004

Fiscal Year Ending Dec.
2003