Norman And Evangeline Hagfors Foundation
- Assets
- $20.8m
- Revenue
- $1.2m
- Investments
- $20.0m
- Employees
- 0
- Location
- Minneapolis, MN
- Founding
- 02/2015
- Data as of
- 12/2021
- EIN
- 47-2030913
Organization Overview
Norman And Evangeline Hagfors Foundation is located in Minneapolis, MN. The organization was established in 2015. According to its NTEE Classification (T22) the organization is classified as: Private Independent 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. Norman And Evangeline Hagfors 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 12/2021, Norman And Evangeline Hagfors Foundation generated $1.2m in total revenue. This represents a relatively dramatic decline in revenue. Over the past 5 years, the organization has seen revenues fall by an average of (11.0%) each year. All expenses for the organization totaled $1.2m during the year ending 12/2021. As we would expect to see with falling revenues, expenses have declined by (25.6%) per year over the past 5 years. You can explore the organizations financials more deeply in the financial statements section below.
Since 2017, Norman And Evangeline Hagfors Foundation has awarded 33 individual grants totaling $2,970,000. 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
2021
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE FOUNDATION MAKES GRANTS TO VARIOUS IRC 501(C)(3) ORGANIZATIONS. ALL EXPENSES WILL BE DIRECTLY RELATED TO THAT ACTIVITY.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Norman Hagfors Director/president | 0 | $0 | |
Mark Hagfors Director/vice-President | 0 | $0 | |
Evangeline Hagfors Director/secretary | 0 | $0 | |
Rachel Pickerign Director/vice-President | 0 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $525,000 |
| Interest on Savings | $29 |
| Dividends & Interest | $641,248 |
| Net Rental Income | $0 |
| Net Gain on Sale of Assets | $630 |
| Capital Gain Net Income | $630 |
| Net ST Capital Gain | $0 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $0 |
| Other Income | $0 |
| Total Revenue | $1,166,907 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $0 |
| Other employee salaries and wages | $0 |
| Pension plans, employee benefits | $0 |
| Interest | $0 |
| Taxes | $12,715 |
| Depreciation | $0 |
| Occupancy | $0 |
| Travel, conferences, and meetings | $0 |
| Printing and publications | $0 |
| Other expenses | $297 |
| Total operating and administrative expenses | $87,305 |
| Contributions, gifts, grants paid | $1,090,000 |
| Total expenses and disbursements | $1,177,305 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $762,222 |
| Savings and temporary cash investments | $49,056 |
| 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 | $249,165 |
| Net Land, buildings, and equipment | $0 |
| Other assets | $0 |
| Total assets | $20,762,255 |
| 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, Norman And Evangeline Hagfors Foundation has awarded $1,090,000 in support to 11 organizations.
| Grant Recipient | Amount |
|---|---|
ST ANDREWS LUTHERAN CHURCH PURPOSE: GENERAL FUND AND COMMUNITY CHARITABLE OUTREACH | $300,000 |
FIRST COVENANT CHURCH PURPOSE: FACILITY UPGRADE GRANTGENERAL OPERATIONS | $265,000 |
White Bear Lake, MN PURPOSE: GENERAL FUND AND STUDENT SCHOLARSHIPS | $250,000 |
Minneapolis, MN PURPOSE: FRAME SCHOLARSHIP FUND | $100,000 |
LUTHER SEMINARY PURPOSE: WEBSITE UPGRADES | $100,000 |
Minneapolis, MN PURPOSE: MINNEHAHA FUND | $25,000 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Goodman Family Operating Foundation Chaska, MN | $298,216,479 | $15,439,155 |
Robert And Adele Schiff Family Foundation Inc Milwaukee, WI | $226,331,394 | $18,541,997 |
Wca Foundation C/O The Minneapolis Foundation Minneapolis, MN | $0 | $1,050,329 |
Esther And Harold Mertz Foundation Sioux Falls, SD | $674,132,608 | $21,835,940 |
Larson Foundation Sioux Falls, SD | $23,259,212 | -$633,184 |
John T Vucurevich Foundation Rapid City, SD | $151,565,692 | $20,798,188 |
Fund For Wisconsin Scholars Inc Madison, WI | $273,321,225 | $22,010,196 |
Pohlad Family Foundation Minneapolis, MN | $102,001,164 | $18,381,775 |
Roy J Carver Charitable Tr Muscatine, IA | $235,043,756 | $22,231,044 |
F R Bigelow Foundation Trust 555 St Paul, MN | $202,026,485 | $23,166,449 |
Lewis W Hyer Trust 098310c Milwaukee, WI | $167,937,358 | $18,090,828 |
Charles E Lakin Foundation Inc Council Bluffs, IA | $146,415,136 | $18,758,116 |