Hertogs Family Education Foundation Inc
- Assets
- $722.2k
- Revenue
- $56.7k
- Investments
- $478.2k
- Employees
- 0
- Location
- Hastings, MN
- Founding
- 05/2001
- Data as of
- 12/2023
- EIN
- 41-1984473
Organization Overview
Hertogs Family Education Foundation Inc is located in Hastings, MN. The organization was established in 2001. 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. Hertogs Family Education Foundation Inc 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, Hertogs Family Education Foundation Inc generated $56.7k in total revenue. This organization has experienced exceptional growth, as over the past 9 years, it has increased revenue by an average of 10.0% each year . All expenses for the organization totaled $35.5k during the year ending 12/2023. You can explore the organizations financials more deeply in the financial statements section below.
Since 2015, Hertogs Family Education Foundation Inc has awarded 40 individual grants totaling $404,700. 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
CONTRIBUTIONS TO SCHOOLS, OTHER 501(C)3 ORGANIZATIONS, AND INDIVIDUALS TO PROVIDE SUPPORT FOR EDUCATIONAL AND MEDICAL RESEARCH PROGRAMS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Scott Hertogs Pres/directo | 1 | $3,000 | |
Leo Schumacher Director | 1 | $3,000 | |
Susan Hertogs Director | 1 | $3,000 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $0 |
| Interest on Savings | $786 |
| Dividends & Interest | $30,108 |
| Net Rental Income | $0 |
| Net Gain on Sale of Assets | $25,822 |
| Capital Gain Net Income | $25,822 |
| Net ST Capital Gain | $0 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $0 |
| Other Income | $0 |
| Total Revenue | $56,716 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $9,000 |
| Other employee salaries and wages | $0 |
| Pension plans, employee benefits | $0 |
| Interest | $0 |
| Taxes | $426 |
| Depreciation | $0 |
| Occupancy | $0 |
| Travel, conferences, and meetings | $0 |
| Printing and publications | $0 |
| Other expenses | $3,075 |
| Total operating and administrative expenses | $12,501 |
| Contributions, gifts, grants paid | $23,000 |
| Total expenses and disbursements | $35,501 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $59,741 |
| Savings and temporary cash investments | $184,108 |
| Net Accounts receivable | $123 |
| 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 | $183,872 |
| Investments—other | $0 |
| Net Land, buildings, and equipment | $0 |
| Other assets | $0 |
| Total assets | $722,182 |
| 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, Hertogs Family Education Foundation Inc has awarded $23,000 in support to 3 organizations.
| Grant Recipient | Amount |
|---|---|
INDEPENDENT SCHOOL DISTRICT 200 PURPOSE: YOUTH DEVELOPMENT | $7,500 |
REACH OUT AND READ MN PURPOSE: YOUTH DEVELOPMENT | $500 |
INVER HILLS COMMUNITY COLLEGE PURPOSE: YOUTH DEVELOPMENT | $15,000 |