Hermundslie Foundation
- Assets
- $3.7m
- Revenue
- $119.2k
- Investments
- $3.5m
- Employees
- 0
- Location
- Tucson, AZ
- Founding
- 03/1969
- Data as of
- 12/2021
- EIN
- 23-7001359
Organization Overview
Hermundslie Foundation is located in Tucson, AZ. The organization was established in 1969. According to its NTEE Classification (T20) the organization is classified as: Private Grantmaking 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. Hermundslie 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, Hermundslie Foundation generated $119.2k in total revenue. This represents a relatively dramatic decline in revenue. Over the past 4 years, the organization has seen revenues fall by an average of (21.2%) each year. All expenses for the organization totaled $521.0k during the year ending 12/2021. As we would expect to see with falling revenues, expenses have declined by (28.0%) per year over the past 4 years. You can explore the organizations financials more deeply in the financial statements section below.
Since 2020, Hermundslie Foundation has awarded 40 individual grants totaling $863,153. 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
NONE
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PDF Copies of 990 Filings
Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Gerald D Hermundslie President | 25 | $0 | |
Gloria Fitzgerald Vice-Pres. | 25 | $0 | |
Carol Hermundslie Secretary | 25 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Accumulated Capital Mgmt Corp Inc | 12/30/21 | $230,000 |
Rbc Wealth Management | 12/30/21 | $55,043 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $0 |
| Interest on Savings | $7 |
| Dividends & Interest | $110,834 |
| Net Rental Income | $0 |
| Net Gain on Sale of Assets | $0 |
| Capital Gain Net Income | $447,883 |
| Net ST Capital Gain | $154,944 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $0 |
| Other Income | $8,333 |
| Total Revenue | $119,174 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $0 |
| Other employee salaries and wages | $0 |
| Pension plans, employee benefits | $0 |
| Interest | $0 |
| Taxes | $0 |
| Depreciation | $0 |
| Occupancy | $0 |
| Travel, conferences, and meetings | $0 |
| Printing and publications | $0 |
| Other expenses | $3,713 |
| Total operating and administrative expenses | $290,376 |
| Contributions, gifts, grants paid | $230,600 |
| Total expenses and disbursements | $520,976 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $191,285 |
| 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 | $425,000 |
| Net Land, buildings, and equipment | $0 |
| Other assets | $0 |
| Total assets | $3,703,400 |
| 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, Hermundslie Foundation has awarded $230,600 in support to 10 organizations.
| Grant Recipient | Amount |
|---|---|
4 TUCSON PURPOSE: EDUCATION | $121,600 |
Phoenix, AZ PURPOSE: EDUCATION | $20,000 |
ROMANS 12 MINISTRIES PURPOSE: EDUCATION | $20,000 |
BRANCHING OUT PURPOSE: EDUCATION | $20,000 |
Tucson, AZ PURPOSE: EDUCATION | $15,000 |
GOLDWATER INSTITUTE PURPOSE: POLITICAL REFORM | $10,000 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Dr Miriam And Sheldon G Adelson Las Vegas, NV | $37,664,470 | $5,516,038 |
Shimon Ben Joseph Foundation San Francisco, CA | $1,592,283,787 | $39,921,005 |
Alfred C Munger Foundation Los Angeles, CA | $17,737,694 | $91,163,030 |
Hellman Foundation San Francisco, CA | $693,471,633 | $133,789,010 |
The Eric And Wendy Schmidt Fund For Strategic Innovation Palo Alto, CA | $1,715,568,763 | $412,161,407 |
Omidyar Network Fund Inc Redwood City, CA | $490,038,780 | $21,031,743 |
Sobrato Family Foundation Mountain View, CA | $811,956,453 | $266,068,436 |
Moore Family Foundation Incline Village, NV | $173,909 | $5,659,701 |
Benificus Foundation San Carlos, CA | $13,481,294 | $1,960,393 |
H&h Evergreen Foundation Menlo Park, CA | $393,647,714 | $39,435,652 |
The Energy Foundation San Francisco, CA | $108,278,429 | $83,158,939 |
Gates Family Foundation Denver, CO | $458,247,303 | $68,267,243 |