Hermundslie Foundation
- Assets
- $3.3m
- Revenue
- $109.2k
- Investments
- $3.0m
- Employees
- 0
- Location
- Tucson, AZ
- Founding
- 03/1969
- Data as of
- 12/2023
- EIN
- 23-7001359
Organization Overview
Hermundslie Foundation is located in Tucson, AZ. The organization was established in 1969. According to its NTEE Classification (T20) the organization is classified as: Private Grantmaking Foundations, under the broad grouping of Philanthropy, Voluntarism & Grantmaking Foundations and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Hermundslie Foundation is a 501(c)(3) and as such, is described as a "Charitable or Religous organization or a private foundation" by the IRS.
For the year ending 12/2023, Hermundslie Foundation generated $109.2k in total revenue. The organization has seen a slow decline revenue. Over the past 5 years, revenues have fallen by an average of (2.9%) each year. All expenses for the organization totaled $460.4k during the year ending 12/2023. As we would expect to see with falling revenues, expenses have declined by (23.1%) per year over the past 5 years. You can explore the organizations financials more deeply in the financial statements section below.
Since 2020, Hermundslie Foundation has awarded 36 individual grants totaling $801,801. If you would like to learn more about the grant giving history of this organization, scroll down to the grant profile section of this page.
Form
990PF
Mission & Program ActivityExcerpts From the 990PF Filing
TAX YEAR
2023
Describe the Organization's Program Activity:
Part 3 - Line 4a
NONE
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Gerold D Hermundslie President | 25 | $0 | |
Gloria Fitzgerald Vice-Pres. | 25 | $0 | |
Carol A Hermundslie Secretary | 25 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Accumulated Capital Mgmt Corp Inc | 12/30/22 | $245,000 |
Rbc Wealth Management | 12/30/22 | $51,020 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $0 |
| Interest on Savings | $6 |
| Dividends & Interest | $91,469 |
| Net Rental Income | $0 |
| Net Gain on Sale of Assets | $0 |
| Capital Gain Net Income | $263,304 |
| Net ST Capital Gain | $40,414 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $0 |
| Other Income | $17,732 |
| Total Revenue | $109,207 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $0 |
| Other employee salaries and wages | $0 |
| Pension plans, employee benefits | $0 |
| Interest | $0 |
| Taxes | $0 |
| Depreciation | $0 |
| Occupancy | $0 |
| Travel, conferences, and meetings | $0 |
| Printing and publications | $0 |
| Other expenses | $2,358 |
| Total operating and administrative expenses | $272,890 |
| Contributions, gifts, grants paid | $187,500 |
| Total expenses and disbursements | $460,390 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $254,473 |
| Savings and temporary cash investments | $0 |
| Net Accounts receivable | $0 |
| Net Pledges Receivable | $0 |
| Grants receivable | $0 |
| Receivables from Officers, Directors, or Controlling Persons | $0 |
| Net other notes and loans receivable | $0 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $0 |
| Net Investments - land, buildings, equipment | $0 |
| Investments—mortgage loans | $0 |
| Investments—other | $384,799 |
| Net Land, buildings, and equipment | $0 |
| Other assets | $0 |
| Total assets | $3,287,043 |
| Accounts payable and accrued expenses | $0 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Mortgages and other notes payable | $0 |
| Other liabilities | $0 |
| Total liabilities | $0 |
Grants Awarded
Over the last fiscal year, Hermundslie Foundation has awarded $187,500 in support to 9 organizations.
| Grant Recipient | Amount |
|---|---|
NAVIGATORS PURPOSE: EDUCATION | $5,000 |
CENTER FOR ARIZONA POLICY PURPOSE: EDUCATION | $10,000 |
ROMANS 12 MINISTRIES PURPOSE: EDUCATION | $10,000 |
4 TUCSON PURPOSE: EDUCATION | $120,000 |
ERIC HITE FOUNDATION PURPOSE: EDUCATION | $7,500 |
PATRIOT ACADEMY PURPOSE: EDUCATION | $5,000 |