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Faribault Foundation Inc

EIN 41-1931735 · Faribault, MN

Public records show a registered, tax-exempt organization in good standing.

LegitimacyPassesRegistration and standingFinancial healthStrong90 out of 100GovernanceStrong95 out of 100Impact evidenceDescribes programsHow well its results are evidenced

What it says it does

THE FARIBAULT FOUNDATION IS ON A MISSION TO IMPOVE THE QUALITY OF LIFE IN FARIBAULT THROUGH THE GENEROSITY OF DONORS. TO ACCOMPLISH THIS MISSION WE ARE GROWING OUR COMMUNITY FOUNDATION, AND GRANTS WILL BE FOCUSED IN THE FARIBAULT COMMUNITY. MAKING AN IMPACT FOR OUR NON PROFITS AND ENHANCING OUR COMMUNITIES PROGRAMS. CURRENTLY OUR MOST SIGNIFICANT ACTIVITY IS TRYING TO GROW OUR ASSETS UNDER MANAGEMENT AND EDUCATE THE COMMUNITY ON WHAT A FOUNDATION DOES AND HOW IT CAN HELP THE ENTIRE COMMUNITY.

Income
$1.9 million
Spending
$717,175
Spent on programs
76%
Reserves
74.1 months of spending
Largest source of income
donations and private grants, 94%
Employees
2
Volunteers
80
Highest pay
$87,966, executive director

Source: Form 990 for the year ending December 31, 2025, filed with the Internal Revenue Service. Rating method 2026.2. How we rate

Financial health

Strong: 90 out of 100. Higher than 64% of charities in its peer group (philanthropy, $1m to $10m).

  • Reserves

    35 of 35

    Spendable reserves would cover 74.1 months of spending.

  • Debt

    20 of 20

    It owes 3% of what it owns.

  • Living within its means

    15 of 15

    Income exceeded spending by 61% of income.

  • Income trend

    5 of 15

    Income fell 24% on the year before.

  • Spending floor

    15 of 15

    76% of spending went to programs and raising each dollar of donations cost 3 cents.

Source: Form 990 for the year ending December 31, 2025, filed with the Internal Revenue Service. Rating method 2026.2. How we rate

Governance

Strong: 95 out of 100. Higher than 58% of charities in its peer group (philanthropy, $1m to $10m).

  • Independent board

    25 of 25

    9 of 9 voting board members are independent.

  • Conflict of interest policy

    15 of 15

    Has a written conflict of interest policy.

  • Whistleblower policy

    8 of 8

    Has a written whistleblower policy.

  • Record keeping policy

    7 of 7

    Has a written policy on keeping and destroying records.

  • Board minutes

    5 of 5

    Keeps minutes of board meetings.

  • Board sees the tax return

    10 of 10

    Gave the board a copy of this return before filing it.

  • Pay set independently

    0 of 5

    Reports no independent review process for its chief executive's pay.

  • Independent check of accounts

    15 of 15

    Its accounts were audited by an independent accountant.

  • No reported misuse

    10 of 10

    Reports no diversion of assets, excess benefits or loans to insiders.

Source: Form 990 for the year ending December 31, 2025, filed with the Internal Revenue Service. Rating method 2026.2. How we rate

Impact evidence

Describes programs. Its tax return describes what it does but we have found no measurable results in it.

Programs described in its return (1)
  1. $545,925 spent. FUND ADVISOR SERVICES: THE FARIBAULT FOUNDATION IS DONOR CENTERED, PROVIDING OUR DONOR ADVISED FUNDS (DAF) FUND ADVISORS A MENU OF OPTIONS FOR MAKING GRANT REQUESTS TO THEIR FAVORITE NONPROFITS. FARIBAULT FOUNDATION OFFERS A DONOR PORTAL, WHERE FUND ADVISORS CAN REQUEST GRANTS IN THE SITE. FUND ADVISORS WHO ARE NOT COMFORTABLE WITH TECHNOLOGY CAN SEND AN EMAIL, TEXT, PHONE CALL OR SIMPLY STOP BY THE OFFICE TO GET A GRANT REQUEST STARTED FROM THEIR DAF. OUR EXECUTIVE DIRECTOR IS ON HAND TO PROCESS GRANT REQUESTS FOR FUND ADVISORS IN AN EFFICIENT AND TIMELY MANNER, FOLLOWING OUR DONOR ADVISED FUND GUIDELINES AND ACTIVITY POLICY FOR GRANTMAKING FROM A DAF. DONOR ADVISED FUNDS' INVESTMENTS ARE REVIEWED BY FARIBAULT FOUNDATION INVESTMENT COMMITTEE AND THE BOARD OF DIRECTORS. FUND HOLDER STATEMENTS ARE SENT QUARTERLY.WOMEN WHO CARE/MEN ON A MISSION: PROGRAMING INCLUDES LOCAL PHILANTHROPIST AWARDING GRANTS TO LOCAL NONPROFITS THROUGH THE PROCESS OF IN-PERSON NOMINATION AND VOTING. THIS POPULAR PROGRAM HAS ALLOWED THE FARIBAULT FOUNDATION TO ENGAGE PHILANTHROPISTS LARGE AND SMALL. THROUGH 100 WOMEN WHO CARE OR 100 MEN ON A MISSION, DONORS CAN BE A PART OF GRANTING SIZABLE GRANTS THAT START FROM EVERYONE'S $100 DONATION.COMMUNITY MICROGRANTS: SUPPORTS IMPORTANT PROGRAMS AND ACTIVITIES HAPPENING IN OUR COMMUNITY. THROUGH A SIMPLE GRANT APPLICATION PROCESS, LOCAL NONPROFITS DESCRIBE THEIR PROGRAMS AND ACTIVITIES THAT IMPROVE THE QUALITY OF LIFE FOR FARIBAULT CITIZENS. REQUESTS ARE FOR GRANTS OF $500-$1000. GRANT REPORTS ARE REQUIRED TO KEEP THE FARIBAULT FOUNDATION UP TO DATE ON THE SUCCESS OF THE PROGRAMS AND ACTIVITIES.

Source: Form 990 for the year ending December 31, 2025, filed with the Internal Revenue Service. Rating method 2026.2. How we rate

Legitimacy checks

  1. Is it registered with the IRS? Passed.

    Listed in the IRS master file of tax-exempt organizations as a 501(c)(3) charitable organization.

    Source: Exempt Organizations Business Master File, Internal Revenue Service, file dated October 13, 2026.

  2. Has the IRS revoked its tax-exempt status? Passed.

    Not on the IRS automatic revocation list.

    Source: Automatic revocation of exemption list, Internal Revenue Service, file dated October 13, 2026.

  3. Are donations tax-deductible? Passed.

    On the IRS list of organizations eligible to receive tax-deductible contributions.

    Source: Publication 78 data: organizations eligible for tax-deductible contributions, Internal Revenue Service, file dated October 13, 2026.

  4. Is it keeping up with its IRS filings? Passed.

    Most recent return on file covers the year ending December 2025.

    Source: Exempt Organizations Business Master File, Internal Revenue Service, file dated October 13, 2026.

  5. How long has it been tax-exempt? Passed.

    Recognized by the IRS since November 1999.

    Source: Exempt Organizations Business Master File, Internal Revenue Service, file dated October 13, 2026.

  6. Is it in good standing with state regulators? Passed.

    Not on California's list of charities barred from soliciting. Other states are not yet checked.

    Source: May Not Operate or Solicit for Charitable Purposes list, California Attorney General, Registry of Charities and Fundraisers, file dated October 21, 2026.

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