Olga B Hart Education Foundation
- Assets
- $4.8m
- Revenue
- $156.4k
- Investments
- $4.8m
- Employees
- 0
- Location
- Duluth, MN
- Founding
- 09/2001
- Data as of
- 12/2023
- EIN
- 41-2015095
Organization Overview
Olga B Hart Education Foundation is located in Duluth, MN. The organization was established in 2001. 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. Olga B Hart Education 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 12/2023, Olga B Hart Education Foundation generated $156.4k in total revenue. This represents a relatively dramatic decline in revenue. Over the past 9 years, the organization has seen revenues fall by an average of (6.8%) each year. All expenses for the organization totaled $302.0k during the year ending 12/2023. As we would expect to see with falling revenues, expenses have declined by (0.5%) per year over the past 9 years. You can explore the organizations financials more deeply in the financial statements section below.
Since 2015, Olga B Hart Education Foundation has awarded 172 individual grants totaling $2,119,500. 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.
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Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $0 |
| Interest on Savings | $0 |
| Dividends & Interest | $213,860 |
| Net Rental Income | $0 |
| Net Gain on Sale of Assets | -$98,782 |
| Capital Gain Net Income | $0 |
| Net ST Capital Gain | $0 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $0 |
| Other Income | $41,347 |
| Total Revenue | $156,425 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $60,000 |
| 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 | $0 |
| Total operating and administrative expenses | $72,013 |
| Contributions, gifts, grants paid | $230,000 |
| Total expenses and disbursements | $302,013 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $22,195 |
| 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 | $4,767,010 |
| Net Land, buildings, and equipment | $0 |
| Other assets | $0 |
| Total assets | $4,789,205 |
| 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, Olga B Hart Education Foundation has awarded $230,000 in support to 19 organizations.
| Grant Recipient | Amount |
|---|---|
LUTHER SEMINARY PURPOSE: FOR EDUCATIONAL PURPOSES | $25,000 |
SCSU FOUNDATION PURPOSE: FOR EDUCATIONAL PURPOSES | $25,000 |
UDAC INC PURPOSE: FOR EDUCATIONAL PURPOSES | $6,000 |
MSL NORTHLAND PURPOSE: FOR EDUCATIONAL PURPOSES | $2,000 |
DOLLARS FOR SCHOLARS PURPOSE: FOR EDUCATIONAL PURPOSES | $15,000 |
MN ADULT TEEN CHALLENGE PURPOSE: FOR EDUCATIONAL PURPOSES | $6,000 |