Non-profit

Rasmuson Foundation

Website:

www.rasmuson.org/

Location:

Anchorage, AK

Tax ID:

91-6340739

Tax-Exempt Status:

501(c)(3)

Budget (2020):

Revenue: $34,221,224
Expenses: $34,405,734
Assets: $728,627,304

Type:

Private Foundation

Interim President and CEO:

Sammye Pokryfki

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The Rasmuson Foundation is a private grantmaking foundation that provides significant funding to hundreds of organizations and local governments in Alaska and to a smaller number of nonprofits based elsewhere in the United States. The foundation was founded in 1955 by Jenny Rasmuson in honor of her late husband E.A. Rasmuson, a Swedish immigrant who led the National Bank of Alaska.

The foundation reported $832 million in total assets at the end of 2021 and is the largest private foundation in Alaska by a wide margin. Most of the foundation’s grantmaking is focused on hundreds of community organizations throughout the state with an emphasis on providing funding for new buildings and equipment for many organizations. The foundation gives to some left-of-center organizations such as the Rockefeller Philanthropy Advisors and Planned Parenthood of the Greater Northwest. 1 2 3

History

The Rasmuson Foundation was founded in 1955 by Jenny Rasmuson, the widow of E.A. Rasmuson who owned the National Bank of Alaska. Jenny and E.A. Rasmuson were Swedish immigrants to Alaska and E.A. took ownership of the bank as it was nearing insolvency in 1918 and died in 1949, leaving the bank to his son, Elmer Rasmuson. Elmer Rasmuson was involved with leading the foundation from its early days and left the bulk of his estate, approximately $400 million, to the foundation. Much of the endowment from Elmer Rasmuson’s estate was due to the sale of the Bank of Alaska to Wells Fargo in 2000 that was negotiated by his son Ed Rasmuson, who chaired the foundation until his death in 2022. 4 5

Ed Rasmuson’s daughter, Natasha von Imhof, is vice chair of the foundation board and was elected to two terms as a Republican member of the Alaska State Senate, opting against seeking reelection in 2022. 6

Activities

The Rasmuson Foundation focuses heavily on programs and funding that provide support to Alaskan organizations, local governments, and artists. The foundation reported $832 million in total assets at the end of 2021 and awarded $36 million in grants to hundreds of organizations in 2021. The foundation reported giving a total of $479 million in grants from its founding in 1955 through 2021. 7

The foundation also conducts advocacy efforts related to the Alaska state budget and has criticized budget cuts made by Governor Mike Dunleavy (R) through line item vetoes. The foundation also created a website called Plan4Alaska which promotes a state budget that funds a variety of social services throughout the state. 8 9

Funding

The Rasmuson Foundation provides grants to hundreds of organizations annually, the vast majority of which are based in Alaska. The foundation also provides funding to many towns and villages within the state to fund public infrastructure, equipment, and services. Alaska-based organizations that have received over $100,000 in annual funding from the foundation include the Alaska Community Foundation, the Alaska Native Tribal Health Consortium, the Alaska Institute for Justice, and the Alaska Housing Finance Corporation. 10

The foundation has also provided grants to several left-of-center advocacy organizations and environmental groups including the Alaska Center Education Fund, National Forest Foundation, the National Fish and Wildlife Foundation, the National Domestic Workers Alliance, Rockefeller Philanthropy Advisors, Planned Parenthood of the Greater Northwest, and the Urban Justice Center. 11

References

  1. “Overview.” Rasmuson Foundation. Accessed February 10, 2023.  https://rasmuson.org/about/overview/
  2. “IRS Form 990.” Rasmuson Foundation. 2019. Accessed February 10, 2023. https://projects.propublica.org/nonprofits/organizations/916340739/202003199349100015/full
  3. “History.” Rasmuson Foundation. Accessed February 10, 2023. https://rasmuson.org/about/history/
  4. Brooks, James. “Alaska philanthropist and banker Ed Rasmuson dies at age 81.” Anchorage Daily News. January 4, 2022. Accessed February 10, 2023. https://www.adn.com/alaska-news/2022/01/04/alaska-philanthropist-and-banker-ed-rasmuson-dies-at-age-81/
  5. “History.” Rasmuson Foundation. Accessed February 10, 2023. https://rasmuson.org/about/history/
  6. Brooks, James. “Alaska philanthropist and banker Ed Rasmuson dies at age 81.” Anchorage Daily News. January 4, 2022. Accessed February 10, 2023. https://www.adn.com/alaska-news/2022/01/04/alaska-philanthropist-and-banker-ed-rasmuson-dies-at-age-81/
  7. “Overview.” Rasmuson Foundation. Accessed February 10, 2023.  https://rasmuson.org/about/overview/
  8. “Plan4Alaska.” Rasmuson Foundation. Accessed February 10, 2023. https://www.rasmuson.org/tag/plan4alaska/
  9. “Alaska State Budget.” Rasmuson Foundation. Accessed February 10, 2023. https://rasmuson.org/about/akbudget/
  10. “IRS Form 990.” Rasmuson Foundation. 2019. Accessed February 10, 2023. https://projects.propublica.org/nonprofits/organizations/916340739/202003199349100015/full
  11. “IRS Form 990.” Rasmuson Foundation. 2019. Accessed February 10, 2023. https://projects.propublica.org/nonprofits/organizations/916340739/202003199349100015/full
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Nonprofit Information

  • Accounting Period: December - November
  • Tax Exemption Received: December 1, 1992

  • Available Filings

    Period Form Type Total revenue Total functional expenses Total assets (EOY) Total liabilities (EOY) Unrelated business income? Total contributions Program service revenue Investment income Comp. of current officers, directors, etc. Form 990
    2020 Dec Form PF $34,221,224 $34,405,734 $728,627,304 $23,660,581 $0 $0 $0 $0
    2019 Dec Form PF $50,039,176 $32,813,094 $699,853,535 $18,854,500 $0 $0 $0 $0
    2015 Dec Form PF $44,853,551 $34,224,097 $651,725,084 $18,746,594 $0 $0 $0 $0 PDF
    2014 Dec Form PF $60,841,984 $43,075,448 $672,178,454 $26,037,601 $0 $0 $0 $0 PDF
    2013 Dec Form PF $53,208,086 $45,832,221 $627,588,332 $19,362,214 $0 $0 $0 $0 PDF
    2012 Dec Form PF $99,361,392 $36,521,756 $569,389,107 $18,442,342 $0 $0 $0 $0 PDF
    2011 Dec Form PF $36,386,613 $21,866,665 $487,659,276 $10,534,976 $0 $0 $0 $0 PDF

    Additional Filings (PDFs)

    Rasmuson Foundation


    Anchorage, AK