Live preview — download the board-ready PDF to attach to your minutes.Download the free PDF
Email yourself a copy:
PeerBasis
Compensation Comparability Determination

Howard Rasmussen Charitable Trust

Executive Director / CEO

EIN 934718893
MN · NTEE T22
FY ending 2023-12-31
June 9, 2026

This analysis benchmarks the total compensation of Richard C Kelsey, Executive Director / CEO ($2,500) against every comparable organization that fit the selection criteria — 224 in total — drawn systematically from IRS Form 990 filings, not a hand-picked subset.

Compensation sits at approximately the 8th percentile of comparable organizationsbelow the typical range for comparable organizations

Benchmarked executive: Richard C Kelsey — reported title “TRUSTEE”, selected as the organization's highest-paid individual — no exact title match, so confirm this is a comparable role.

How comparable organizations were selected

224 organizations qualified on sector, size, and geography 224 within the band form the benchmarked peer set.

Distribution of comparable compensation

$268 total compensation of comparable organizations → $1,072,413 $2,500
$3,61610th
$11,03325th
$26,262Median
$42,82375th
$76,84390th
$2,500This org · 8th
p10$3,616
p25$11,033
p50$26,262
p75$42,823
p90$76,843
$2,500

Comparable organizations

Each figure is Form 990 Part VII columns D + F (reportable pay plus other compensation and benefits; column F may include amounts from related organizations), normalized to MN cost of living (BEA RPP, 2023) and to its filing year (CPI-U); the reported amount is on each linked 990.

OrganizationStateRevenueMatched titleComp
(reported)
Comp
(adjusted)
FY
Kansas City Kansas Area Chamber KS$87,004 President (F $3,686 $3,914 2024
Jewish Federation Of Cape Cod Inc MA$87,568 Director $3,258 $2,878 2024
Steven & Lottie Walker Family Foundation CA$88,255 Asst. Secretary/community Director $35,872 $31,348 2023
Joyal Capital Management Foundation Inc MA$86,055 Clerk, Director, Program Director $55,008 $50,026 2023
United Way Of Franklin County IN$85,982 Executive Director $30,022 $32,041 2023
For Holding Co Inc NY$85,936 Executive Director $3,698 $3,285 2024
Western Reserve Area Agency On Aging OH$88,626 Ceo $41,528 $43,237 2024
Lakes Region Community Services NH$88,991 Director $24,111 $21,884 2024
Chouteau House Qalicb Inc MO$89,148 Vp Of Finance $34,211 $35,618 2024
Mad Anthony Childrens Foundation IN$89,150 Executive Dir. $34,000 $35,246 2024
Ricky Martin Foundation Corp PR$84,718 Director $30,977 $30,088 2024
Smeco Charitable Foundation Inc MD$84,540 Vice Preside $115,107 $105,785 2024
Broadway House For Continuing Care Fd NJ$89,850 Board Chair $11,172 $9,805 2024
Seattle Children's Theatre Foundation WA$89,970 Managing Director $10,542 $9,552 2023
Intervalien Foundation CA$84,181 President/director $75,000 $65,542 2023
Cotton Electric Charitable OK$90,187 Director $176,286 $185,896 2025
The Mike Gallagher Show Charitable NY$84,008 Executive Di $117,200 $107,179 2023
Baraga County Community Foundation MI$90,676 Executive Director $38,998 $39,568 2024
The Tyner Family Foundation OH$83,525 Treasurer $60,259 $64,591 2023
Eleanor And Henry Jansen Foundation WA$83,352 Executive Director $4,988 $4,390 2024
Ann Lib And Bernard Kozel NY$91,171 Secretary $30,887 $27,436 2024
Community Foundation Of The Valleys CA$91,265 Executive Director $17,500 $15,293 2023
Sterling Heights Area Community MI$91,339 Executive Di $35,625 $36,146 2024
Robert And Louise Bossardt Trust VT$82,902 Trustee $12,686 $12,922 2023
Pennsylvania Cable & PA$91,560 Executive Di $47,131 $46,202 2024

Comp (reported) is the figure on each organization's Form 990 (columns D + F); Comp (adjusted) normalizes it to MN cost of living and 2023 dollars. Click any organization to verify the figure on ProPublica.

Methodology

Comparable organizations were drawn from electronically filed IRS Form 990 returns and matched on sector (NTEE code), budget (a size-adaptive revenue band that tightens as the organization grows), and geography (same-state first, broadening only when too few peers qualify); every organization within the band forms the peer set. To compare fairly across regions and years, peer compensation is normalized to MN cost of living (BEA Regional Price Parities, 2023) and to the subject's filing year (CPI-U). The figure benchmarked is Form 990 Part VII, Section A, columns D + F — reportable pay plus other compensation, benefits, and deferred amounts (column F may include amounts from related organizations) — with the chief executive matched by role. Related-organization amounts (column E) and institutional trustees are excluded. Full methodology: peerbasis.org/methodology.

Sample, role match & sensitivity

Sensitivity — the subject's percentile under alternative compensation definitions:

BasisSubject percentile
Total compensation (D + F), cost-of-living + inflation adjusted — the PeerBasis default8th
Total compensation (D + F), as reported (no adjustments)7th
Reportable pay only (column D), adjusted59th
All sources (D + E + F), adjusted4th

If the percentile moves materially across these definitions, the result is sensitive to methodology choices, and the board should weigh which basis best fits its facts.

Rebuttable presumption of reasonableness · 26 CFR 53.4958-6

Compensation paid by a tax-exempt organization is presumed reasonable — shifting the burden to the IRS — when three requirements are met. This report supplies the comparability data for the second. The board should record the following in its minutes concurrently with its decision:

Draft board minutes — executive compensation

  1. The compensation of the Executive Director / CEO (Richard C Kelsey) was approved in advance by [the Board / Compensation Committee], composed of members with no conflict of interest with respect to the arrangement.
  2. Prior to its determination, the authorized body obtained and relied upon appropriate comparability data, namely the PeerBasis Compensation Comparability Determination dated June 9, 2026, comparing compensation against 224 similarly situated organizations (Same NTEE major group (T), nationwide + budget 0.67–1.5× revenue).
  3. The authorized body determined that total compensation of $2,500 is reasonable (approximately the 8th percentile of comparable organizations) and documented the basis for this determination concurrently, on [date], by a vote of [__ for / __ against].

Sources: IRS Form 990 e-file data (apps.irs.gov); IRS Business Master File (NTEE classification). Every figure traces to an original public filing — click any organization above to verify it on ProPublica. PeerBasis is a service of Prismind Analytics; its methodology is published, was commissioned for independent adversarial review, and discloses its own limitations. This report is comparability data to support a board's good-faith determination under IRC 4958; it is not legal or tax advice. Generated by PeerBasis on June 9, 2026.