Hormel Historic Home Inc
- Assets
- $2.1m
- Revenue
- $321.6k
- Investments
- $0.0
- Employees
- 20
- Location
- Austin, MN
- Founding
- 08/1942
- Data as of
- 08/2021
- EIN
- 41-0705219
Organization Overview
Hormel Historic Home Inc is located in Austin, MN. The organization was established in 1942. According to its NTEE Classification (P27) the organization is classified as: Young Mens or Womens Associations, under the broad grouping of Human Services and related organizations. As of 08/2021, Hormel Historic Home Inc employed 20 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Hormel Historic Home Inc 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 08/2021, Hormel Historic Home Inc generated $321.6k in total revenue. This represents a relatively dramatic decline in revenue. Over the past 6 years, the organization has seen revenues fall by an average of (10.0%) each year. All expenses for the organization totaled $400.3k during the year ending 08/2021. As we would expect to see with falling revenues, expenses have declined by (5.5%) per year over the past 6 years. You can explore the organizations financials more deeply in the financial statements section below.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2021
Describe the Organization's Mission:
Part 3 - Line 1
TO PRESERVE THE HISTORY AND VALUES OF THE GEORGE A AND LILLIAN HORMEL FAMILY THROUGH THE PRESERVATION OF THE HORMEL HISTORIC HOME AND SERVING THE COMMUNITY AS A MEETING PLACE TO PURSUE THE HORMEL FAMILY VALUES OF HOSPITALITY, EDUCATION, MUSIC APPRECIATION ,AND ENTREPRENEURSHIP.
Describe the Organization's Program Activity:
Part 3 - Line 4a
PRESERVATION OF THE HORMEL HISTORIC HOME
RENTAL FACILITY IN GENERAL BY VARIOUS CLUBS AND INDIVIDUALS
PROVIDED CLASSES, CAMPS EVENTS AND ACTIVITIES FOR THE COMMUNITY
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Holly Johnson Ex. Director | Officer | 40 | $46,003 |
Jill Hart Treasurer | OfficerTrustee | 2 | $0 |
Fred Halvin Chairman | OfficerTrustee | 2 | $0 |
Cindy Meany Ex Director | Officer | 40 | $0 |
Jim Mino Secretary | Officer | 2 | $0 |
Robin Akkerman Trustee | Trustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $23,200 |
| Membership dues | $34,165 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $31,967 |
| All other contributions, gifts, grants, and similar amounts not included above | $146,820 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $236,152 |
| Total Program Service Revenue | $81,560 |
| Investment income | $3,849 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $321,561 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $0 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $46,003 |
| Compensation of current officers, directors, key employees. | $11,501 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $91,182 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $10,426 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $7,497 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $2,646 |
| Advertising and promotion | $2,864 |
| Office expenses | $1,162 |
| Information technology | $4,728 |
| Royalties | $0 |
| Occupancy | $28,490 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $61 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $67,848 |
| Insurance | $16,318 |
| All other expenses | $14,963 |
| Total functional expenses | $400,348 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $108,789 |
| Savings and temporary cash investments | $190,229 |
| Pledges and grants receivable | $54,280 |
| Accounts receivable, net | $8,695 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $14,173 |
| Prepaid expenses and deferred charges | $3,814 |
| Net Land, buildings, and equipment | $1,565,421 |
| Investments—publicly traded securities | $121,218 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $2,066,619 |
| Accounts payable and accrued expenses | $11,604 |
| Grants payable | $0 |
| Deferred revenue | $18,820 |
| Tax-exempt bond liabilities | $0 |
| Escrow or custodial account liability | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $0 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $13,705 |
| Total liabilities | $44,129 |
| Net assets without donor restrictions | $1,796,725 |
| Net assets with donor restrictions | $225,765 |
| Capital stock or trust principal, or current funds | $0 |
| Paid-in or capital surplus, or land, building, or equipment fund | $0 |
| Retained earnings, endowment, accumulated income, or other funds | $0 |
| Total liabilities and net assets/fund balances | $2,066,619 |
Grants Recieved
Over the last fiscal year, we have identified 3 grants that Hormel Historic Home Inc has recieved totaling $36,750.
| Awarding Organization | Amount |
|---|---|
Thomas Dubois Hormel Foundation Inc Fort Lauderdale, FL PURPOSE: TO PRESERVE THE HISTORY AND VALUES OF THE GEORGE A AND LILLIAN HORMEL FAMILY THROUGH THE PRESERVATION OF THE HORMEL HISTORIC HOME AND SERVING THE COMMUNITY AS A MEETING PLACE TO PURSUE THE HORMEL FAMILY VALUES OF HOSPITALITY, EDUCATION, MUSIC APPRECIATION ,AND ENTREPRENEURSHIP. | $20,000 |
Geo A Hormel Testamentary Trust Austin, MN PURPOSE: OP EXP AND BLDG RESTORE | $12,500 |
Geo A Hormel Testamentary Trust Austin, MN PURPOSE: OP EXP AND EQUIP | $4,250 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Young Mens Christian Association Of The Fox Cities Inc Appleton, WI | $66,166,192 | $35,777,368 |
Ymca Of Cass And Clay Counties Fargo, ND | $40,734,478 | $22,873,894 |
Ywca Of Minneapolis Minneapolis, MN | $51,048,789 | $16,474,298 |
Young Mens Christian Association Of Greater Des Moines Des Moines, IA | $55,671,991 | $14,265,776 |
Young Mens Christian Association Of Metropolitan Milwaukee Milwaukee, WI | $20,955,998 | $11,459,686 |
Young Mens Christian Association Kettle Moraine West Bend, WI | $16,462,834 | $12,846,603 |
Greater Green Bay Ymca Inc Green Bay, WI | $34,883,191 | $12,024,473 |
Young Mens Christian Association Of The Iowa Mississippi Valley Davenport, IA | $63,017,263 | $13,933,643 |
La Crosse Area Family Y M C A Inc La Crosse, WI | $28,629,813 | $12,107,335 |
Missouri Valley Family Young Mens Christian Association Bismarck, ND | $23,505,758 | $13,023,690 |
Young Mens Christian Association Of Dane County Inc Madison, WI | $16,378,728 | $13,253,991 |
Rapid City Y M C A Rapid City, SD | $18,136,251 | $10,285,613 |