Hite Family Foundation
- Assets
- $74.5k
- Revenue
- $22.8k
- Investments
- $68.8k
- Employees
- 0
- Location
- Long Lake, MN
- Founding
- 02/2009
- Data as of
- 12/2022
- EIN
- 20-8098507
Organization Overview
Hite Family Foundation is located in Long Lake, MN. The organization was established in 2009. 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. Hite Family 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, Hite Family Foundation generated $22.8k 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 (15.6%) each year. All expenses for the organization totaled $41.9k during the year ending 12/2022. You can explore the organizations financials more deeply in the financial statements section below.
Since 2020, Hite Family Foundation has awarded 15 individual grants totaling $156,416. 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
2022
Describe the Organization's Program Activity:
Part 3 - Line 4a
NONE
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Barbara A Hite President | 1 | $0 | |
H Eugene Hite Jr Secy Treasurer | 6 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $0 |
| Interest on Savings | $16 |
| Dividends & Interest | $3,260 |
| Net Rental Income | $0 |
| Net Gain on Sale of Assets | $19,385 |
| Capital Gain Net Income | $19,504 |
| Net ST Capital Gain | $0 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $0 |
| Other Income | $153 |
| Total Revenue | $22,814 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $0 |
| Other employee salaries and wages | $0 |
| Pension plans, employee benefits | $0 |
| Interest | $0 |
| Taxes | $158 |
| Depreciation | $0 |
| Occupancy | $0 |
| Travel, conferences, and meetings | $0 |
| Printing and publications | $0 |
| Other expenses | $171 |
| Total operating and administrative expenses | $329 |
| Contributions, gifts, grants paid | $41,583 |
| Total expenses and disbursements | $41,912 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $187 |
| Savings and temporary cash investments | $5,525 |
| 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 | $74,464 |
| Accounts payable and accrued expenses | $279 |
| 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 | $279 |
Grants Awarded
Over the last fiscal year, Hite Family Foundation has awarded $41,583 in support to 3 organizations.
| Grant Recipient | Amount |
|---|---|
Fridley, MN PURPOSE: SCHOLARSHIPS TO SPECIFIC DESTITUTE STUDENTS | $34,000 |
JOEL GATIMU MUMU PURPOSE: SCHOLARSHIP TO DESTITUTE STUDENT | $4,213 |
JANE WANJA PURPOSE: SCHOLARSHIP TO DESTITUTE STUDENT | $3,370 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Bentson Foundation Wayzata, MN | $107,689,978 | $6,021,397 |
Rsm Us Foundation Davenport, IA | $13,920,904 | $7,669,329 |
Pleasant T Rowland Foundation Brookfield, WI | $94,312,384 | $11,804,849 |
Central States Fair Rapid City, SD | $6,354,015 | $4,358,357 |
Sc Johnson Giving Inc Racine, WI | $34,098,989 | $19,343,102 |
Peo Sisterhood International Chapter Des Moines, IA | $85,884,604 | $5,248,161 |
Herb Kohl Educational Foundation Inc Milwaukee, WI | $133,385 | $3,506,418 |
Valley Senior Living Grand Forks, ND | $804,854 | $3,496,436 |
Ab Nicholas Scholarship Foundation Mequon, WI | $58,753,687 | $6,013,180 |
Hemophilia Outreach Of Wisconsin Inc Green Bay, WI | $38,605,342 | $5,343,718 |
C H Robinson Worldwide Foundation Sioux Falls, SD | $19,568,040 | $4,443,280 |
Delta Dental Of Wisconsin Foundation Inc Stevens Point, WI | $16,778,803 | $4,566,346 |