Fred M Hector Jr Charitable Trust
- Assets
- $18.0m
- Revenue
- $9.7m
- Investments
- $13.5m
- Employees
- 0
- Location
- Fargo, ND
- Founding
- 10/2017
- Data as of
- 12/2023
- EIN
- 82-6127063
Organization Overview
Fred M Hector Jr Charitable Trust is located in Fargo, ND. The organization was established in 2017. 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. Fred M Hector Jr Charitable Trust 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, Fred M Hector Jr Charitable Trust generated $9.7m in total revenue. All expenses for the organization totaled $486.9k during the year ending 12/2023. While expenses have increased by 150.9% per year over the past 6 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.
Since 2020, Fred M Hector Jr Charitable Trust has awarded 102 individual grants totaling $1,295,000. 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
2023
Describe the Organization's Program Activity:
Part 3 - Line 4a
TO SUPPORT CHARITIES IN THE FARGO MOORHEAD REGION
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Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $8,957,767 |
| Interest on Savings | $259,290 |
| Dividends & Interest | $236,233 |
| Net Rental Income | $0 |
| Net Gain on Sale of Assets | -$33,662 |
| Capital Gain Net Income | $0 |
| Net ST Capital Gain | $0 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $0 |
| Other Income | $272,857 |
| Total Revenue | $9,692,485 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $0 |
| Other employee salaries and wages | $0 |
| Pension plans, employee benefits | $0 |
| Interest | $0 |
| Taxes | $1,632 |
| Depreciation | $0 |
| Occupancy | $0 |
| Travel, conferences, and meetings | $0 |
| Printing and publications | $0 |
| Other expenses | $52,662 |
| Total operating and administrative expenses | $91,439 |
| Contributions, gifts, grants paid | $395,500 |
| Total expenses and disbursements | $486,939 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $4,518,392 |
| 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 | $4,805,100 |
| Net Land, buildings, and equipment | $0 |
| Other assets | $19,106 |
| Total assets | $18,021,056 |
| 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, Fred M Hector Jr Charitable Trust has awarded $395,500 in support to 31 organizations.
| Grant Recipient | Amount |
|---|---|
OPEN DOORS 65 PURPOSE: PROGRAM SUPPORT | $12,500 |
FRIENDS OF THE CHILDREN FARGO MOORHEAD PURPOSE: PROGRAM SUPPORT | $12,500 |
NEW LIFE CENTER PURPOSE: PROGRAM SUPPORT | $10,000 |
YWCA OF CASS AND CLAY COUNTIES PURPOSE: PROGRAM SUPPORT | $10,000 |
JEREMIAH PROGRAM FARGO MOORHEAD PURPOSE: PROGRAM SUPPORT | $12,500 |
RIVER KEEPERS PURPOSE: PROGRAM SUPPORT | $5,000 |