Russell B Hagen Foundation
- Assets
- $2.1m
- Revenue
- $184.3k
- Investments
- $2.0m
- Employees
- 0
- Location
- Lakeland, MN
- Founding
- 07/1999
- Data as of
- 12/2022
- EIN
- 41-1941194
Organization Overview
Russell B Hagen Foundation is located in Lakeland, MN. The organization was established in 1999. According to its NTEE Classification (T21) the organization is classified as: Corporate 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. Russell B Hagen 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 12/2022, Russell B Hagen Foundation generated $184.3k in total revenue. The organization has seen a slow decline revenue. Over the past 8 years, revenues have fallen by an average of (0.1%) each year. All expenses for the organization totaled $120.8k during the year ending 12/2022. As we would expect to see with falling revenues, expenses have declined by (3.7%) per year over the past 8 years. You can explore the organizations financials more deeply in the financial statements section below.
Since 2014, Russell B Hagen Foundation has awarded 33 individual grants totaling $1,483,640. 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.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Russell B Hagen President And Treasurer | 4 | $0 | |
Alexander L Hagen Officer | 1 | $0 | |
Erin G Hubbard Officer | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $50,000 |
| Interest on Savings | $0 |
| Dividends & Interest | $124,496 |
| Net Rental Income | $0 |
| Net Gain on Sale of Assets | $1,855 |
| Capital Gain Net Income | $1,855 |
| Net ST Capital Gain | $0 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $0 |
| Other Income | $7,992 |
| Total Revenue | $184,343 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $0 |
| Other employee salaries and wages | $0 |
| Pension plans, employee benefits | $0 |
| Interest | $0 |
| Taxes | $4,000 |
| Depreciation | $0 |
| Occupancy | $0 |
| Travel, conferences, and meetings | $0 |
| Printing and publications | $0 |
| Other expenses | $55 |
| Total operating and administrative expenses | $48,821 |
| Contributions, gifts, grants paid | $72,000 |
| Total expenses and disbursements | $120,821 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $73,930 |
| 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 | $0 |
| Net Land, buildings, and equipment | $0 |
| Other assets | $0 |
| Total assets | $2,065,285 |
| 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, Russell B Hagen Foundation has awarded $72,000 in support to 2 organizations.
| Grant Recipient | Amount |
|---|---|
NHCC FOUNDATION PURPOSE: GENERAL FUND | $70,000 |
URBAN BOATBUILDERS PURPOSE: GENERAL FUND | $2,000 |