Paul Hoghaug Scholarship Fund
- Assets
- $85.4k
- Revenue
- $9.3k
- Investments
- $78.5k
- Employees
- 0
- Location
- Devils Lake, ND
- Founding
- 08/1965
- Data as of
- 12/2021
- EIN
- 45-6014582
Organization Overview
Paul Hoghaug Scholarship Fund is located in Devils Lake, ND. The organization was established in 1965. According to its NTEE Classification (B82) the organization is classified as: Scholarships & Student Financial Aid, under the broad grouping of Education and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Paul Hoghaug Scholarship Fund 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 12/2021, Paul Hoghaug Scholarship Fund generated $9.3k in total revenue. This organization has experienced exceptional growth, as over the past 4 years, it has increased revenue by an average of 31.2% each year . All expenses for the organization totaled $5.8k during the year ending 12/2021. While expenses have increased by 4.1% per year over the past 4 years. They've been increasing with an increasing level of total revenue. You can explore the organizations financials more deeply in the financial statements section below.
Form
990PF
Mission & Program ActivityExcerpts From the 990PF Filing
TAX YEAR
2021
Describe the Organization's Program Activity:
Part 3 - Line 4a
PROVIDE SCHOLARSHIPS TO COLLEGE STUDENTS FROM THE LAKE REGION OF NORTH DAKOTA. THREE SCHOLARSHIPS WERE AWARDED IN 2021.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Ramsey National Bank Trustee | 1 | $0 | |
Ryan Hanson Committee Member | 0.1 | $0 | |
Jim Paulson Committee Member | 0.1 | $0 | |
Jessica Dimitch Committee Member | 0.1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $0 |
| Interest on Savings | $0 |
| Dividends & Interest | $2,229 |
| Net Rental Income | $0 |
| Net Gain on Sale of Assets | $7,034 |
| Capital Gain Net Income | $6,195 |
| Net ST Capital Gain | $0 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $0 |
| Other Income | $0 |
| Total Revenue | $9,263 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $0 |
| Other employee salaries and wages | $0 |
| Pension plans, employee benefits | $0 |
| Interest | $0 |
| Taxes | $84 |
| Depreciation | $0 |
| Occupancy | $0 |
| Travel, conferences, and meetings | $0 |
| Printing and publications | $0 |
| Other expenses | $0 |
| Total operating and administrative expenses | $84 |
| Contributions, gifts, grants paid | $5,685 |
| Total expenses and disbursements | $5,769 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $6,909 |
| Net Accounts receivable | $76 |
| 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 | $85,445 |
| 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, Paul Hoghaug Scholarship Fund has awarded $5,685 in support to 3 organizations.
| Grant Recipient | Amount |
|---|---|
JOHN FISCHER PURPOSE: SCHOLARSHIP | $1,895 |
COLE WENTZ PURPOSE: SCHOLARSHIP | $1,895 |
MADISYN WHITE PURPOSE: SCHOLARSHIP | $1,895 |
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