Minnesota Ground Water Association

MGWA Board and MGWAF 2023 Financial Update

By Eric Bunge (MGWA Treasurer) and Kara Dennis (MGWA Foundation Treasurer)

In 2023 MGWA held two conferences A Drinking Water Journey: an exploration of unique water supplies across Minnesota (spring) and 50 Years of the Safe Drinking Water Act (fall). This year MGWA took in a total of $76,056.25 with most of the income coming from the programs, including both of the conferences (Figure 1). MGWA had a total of $62.556.70 in expenses, with the largest expense being the programs (Figure 2). The required federal nonprofit information returns were prepared and are available to the public on the MGWA website.

Pie chart showing the MGWA income for the calendar year 2023. Income from MGWA membership dues is shown in yellow and is 20% of the total. Income from programs is shown in orange and is 80% of the total. Interest income is negligible.
Figure 1. Minnesota Groundwater Association income for calendar year 2023.
Pie chart showing the Minnesota Groundwater Association expenses for calendar year 2023. The expense for public services is shown in yellow and is 11 percent of the total. The expense for member services is shown in red and is two percent of the total. The expense for administration is shown in blue and is 21 percent of the total, and the program expense is shown in orange and is 66 percent of the total.
Figure 2. Minnesota Groundwater Association expenses for calendar year 2023.

The MGWAF receives funds from MGWA as well as private donations, including contributions from Give to the Max Day and Amazon Smile. The Foundation manages three funds: 1) General Fund (unrestricted funds and donations), 2) Gibanski Endowment (restricted for capital management), and 3) H.O. Pfannkuch Fund (restricted to funding hydrogeology field camps/scholarships). The MGWAF Board distributes funds in the form of scholarships to students with a focus on groundwater studies, as well as grants to educational institutions or events that focus on groundwater. The distribution amounts vary depending on the funds available for distribution and the number of applications received. The MGWAF Board met quarterly to review the funding requests.

During 2022 MGWAF gave out a total of $10,000 in awards and scholarships.  Investments were overall down this year with a decrease of $72,584.84. At the end of 2022 the MGWAF had a total value of $321,096.68 in their accounts (including the unrestricted funds). The Foundation awarded five $1,500 scholarships and awarded one Children’s Water Festival request for $2,500.  In our 40th anniversary year in 2022, MGWA private donations totaled $3,802.  

During 2023 MGWAF gave out a total of $15,183 in awards and scholarships and increased the value of their investment accounts by $59,058.73 through donations and investment results. At the end of 2023 the MGWAF had a total value of $342,132.62 in their accounts (including the unrestricted funds). The Foundation awarded four $2,000 scholarships, a $3,500 award to the Metro Children’s Water Festival, and a $1,000 award to a rural school group for an educational presentation by the Science Museum of Minnesota on water/groundwater, the importance of clean drinking water, and water conservation. The Foundation also covered printing expenses for educational materials for the MGWA and MNWOO water clinics.  

Pie chart showing the Minnesota Groundwater Assocation Foundation for calendar year 2023. The disbursement for scholarships and awards is shown in green and is 53 percent of the total. The disbursement for the children's water festival is shown in yellow and is 23 percent of the total. The disbursement for groundwater education is shown in blue and is 24 percent of the total.
Figure 3. Minnesota Groundwater Association Foundation disbursements for calendar year 2023.
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