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EIN 82-2576323

Bella Mente Quantum Racing Association

IRS 501(c) type
501(c)(3)
Num. employees
3
City
Minneapolis
State
Minnesota
Year formed
2023
Most recent tax filings
2023-06-01
NTEE code, primary
T20: Private Foundations
Description
The Bella Mente Quantum Racing Association is supported by John and Geren Fauth. It is a nonprofit private foundation located in Minneapolis, MN.
Total revenues
$30,334,639
2023
Total expenses
$21,140,478
2023
Total assets
$32,371,449
2023
Num. employees
3
2023

Program areas at Bella Mente Quantum Racing Association

Bmqra is organized and operated as a qualified amateur sports organization. Bmqra is focused on the development and support of a team to participate in the america's cup and the challenger selection series that lead to the cup.
The assets that resulted in a loss include softare licenses used in furtherance of its exempt mission that expired.

Who funds Bella Mente Quantum Racing Association

Grants from foundations and other nonprofits
GrantmakerDescriptionAmount
James M Schoonmaker Ii FoundationGeneral$3,250,000
R Dudley Harrington JR Char FoundationGeneral Exempt Purpose$200,000
Fidelity Investments Charitable Gift FundFor Grant Recipient's Exempt Purposes$52,000
...and 3 more grants received

Personnel at Bella Mente Quantum Racing Association

NameTitleCompensation
Michael CazerDirector and Chief Executive Officer$0
Tyson LamondChief Operating Officer$120,900
Rob OuelettePast Chief Operating Officer$161,100
Ben OsbornSecretary$50,000
Terry HutchinsonDirector of Sailing$309,157

Financials for Bella Mente Quantum Racing Association

RevenuesFYE 12/2022
Total grants, contributions, etc.$31,977,160
Investment income and dividends$128
Net rental income$0
Net gain from sale of non-inventory assets$0
Gross sales of inventory$0
Miscellaneous revenues$72
Total revenues$30,334,639

Form 990s for Bella Mente Quantum Racing Association

Fiscal year endingDate received by IRSFormPDF link
2023-062024-02-07990PFView PDF
2022-122023-04-21990PFView PDF
2021-122022-04-10990PFView PDF
2020-122021-09-03990PFView PDF
2019-122022-01-19990PFView PDF
...and 2 more Form 990s

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Chicago CREDChicago, IL$29,665,830
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Berkowitz Contemporary FoundationSouth Miami, FL$12,273,827
Star of HopeRockland, ME$41,892,574
Kalamazoo PromiseKalamazoo, MI$28,103,665
Rawlings FoundationPalm Beach, FL$36,942,959
Wadhwani Operating FoundationLos Altos, CA$19,667,229
The Pierre and Tana Matisse FoundationNew York, NY$9,170,629
Sherwood FundMiddleburg, VA$25,352,886
Trojan Real PropertiesAddison, TX$17,126,723
Data update history
June 5, 2024
Posted financials
Added Form 990PF for fiscal year 2023
May 20, 2024
Used new vendors
Identified 4 new vendors, including , , , and
May 18, 2024
Received grants
Identified 1 new grant, including a grant for $200,000 from R Dudley Harrington JR Char Foundation
July 11, 2023
Posted financials
Added Form 990PF for fiscal year 2021
July 5, 2023
Posted financials
Added Form 990PF for fiscal year 2022
Nonprofit Types
Private foundationsPrivate operating foundationsCharities
Issues
Human servicesSports
Characteristics
Partially liquidatedState / local levelTax deductible donations
General information
Address
333 S 7th St
Minneapolis, MN 55402
Metro area
Minneapolis-St. Paul-Bloomington, MN-WI
County
Hennepin County, MN
Phone
(612) 673-6735
IRS details
EIN
82-2576323
Fiscal year end
June
Taxreturn type
Form 990-PF
Year formed
2023
Eligible to receive tax-deductible contributions (Pub 78)
Yes
Categorization
NTEE code, primary
T20: Private Foundations
NAICS code, primary
813211: Grantmaking Foundations
Parent/child status
Independent
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