Geo A Hormel Testamentary Trust
- Assets
- $1.1m
- Revenue
- $155.8k
- Investments
- $1.1m
- Employees
- 0
- Location
- Austin, MN
- Founding
- 12/1970
- Data as of
- 12/2022
- EIN
- 41-6026834
Organization Overview
Geo A Hormel Testamentary Trust is located in Austin, MN. The organization was established in 1970. According to its NTEE Classification (T90) the organization is classified as: Named Trusts N.E.C., 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.
For the year ending 12/2022, Geo A Hormel Testamentary Trust generated $155.8k in total revenue. This organization has experienced exceptional growth, as over the past 5 years, it has increased revenue by an average of 39.4% each year . All expenses for the organization totaled $86.9k during the year ending 12/2022. While expenses have increased by 43.0% per year over the past 5 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, Geo A Hormel Testamentary Trust has awarded 151 individual grants totaling $519,244. 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
N/A
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Jeffrey M Ettinger Chair | 4 | $2 | |
Roland G Gentzler Treasurer | 4 | $2 | |
Steven T Rizzi Jr Secretary | 4 | $2 | |
James P Snee Director | 1 | $1 | |
Michelle M King Director | 1 | $1 | |
Mark R Ciota Director | 1 | $1 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $0 |
| Interest on Savings | $0 |
| Dividends & Interest | $24,851 |
| Net Rental Income | $0 |
| Net Gain on Sale of Assets | $130,997 |
| Capital Gain Net Income | $130,997 |
| Net ST Capital Gain | $0 |
| Income Modifications | $1,934 |
| Profit on Inventory Sales | $0 |
| Other Income | $0 |
| Total Revenue | $155,848 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $22 |
| Other employee salaries and wages | $0 |
| Pension plans, employee benefits | $0 |
| Interest | $0 |
| Taxes | $2,077 |
| Depreciation | $0 |
| Occupancy | $0 |
| Travel, conferences, and meetings | $0 |
| Printing and publications | $0 |
| Other expenses | $585 |
| Total operating and administrative expenses | $12,016 |
| Contributions, gifts, grants paid | $74,860 |
| Total expenses and disbursements | $86,876 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $61,886 |
| 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 | $1,116,266 |
| Accounts payable and accrued expenses | $0 |
| Grants payable | $78,860 |
| 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 | $78,860 |
Grants Awarded
Over the last fiscal year, Geo A Hormel Testamentary Trust has awarded $140,991 in support to 40 organizations.
| Grant Recipient | Amount |
|---|---|
Austin, MN PURPOSE: OP EXP AND BLDG RESTORE | $12,500 |
Austin, MN PURPOSE: EQUIPMENT | $6,000 |
Austin, MN PURPOSE: EQUIPMENT | $5,840 |
Austin, MN PURPOSE: VETERINARY EXPENSES | $5,212 |
Austin, MN PURPOSE: OPERATING EXPENSE | $5,000 |
Austin, MN PURPOSE: OPERATING EXPENSE | $5,000 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Woodbourne Charitable Trust Plymouth, MN | $1,142,964 | $10,020,932 |
James M Stanton Foundation Bloomington, MN | $29,105,685 | $38,323,984 |
Cokato Charitable Trust Cokato, MN | $9,103,416 | $8,785,306 |
Jay And Rose Phillips Family Foundation Of Minnesota Minneapolis, MN | $65,545,808 | $6,097,586 |
Hennessey Charitable Trust Dubuque, IA | $69,986,391 | $0 |
Marie H Bechtel Charitable Trust Davenport, IA | $48,721,172 | $1,150,391 |
Henry J Predolin Foundation Inc Madison, WI | $69,057,848 | $691,560 |
Ciresi Walburn Foundation For Children Minneapolis, MN | $31,215,919 | $1,296,068 |
Holthues Tr Muscatine, IA | $22,886,855 | $2,685,899 |
Murphy Charitable Family Foundation Ankeny, IA | $6,139,720 | $12,111 |
Conrad Heskin Charitable Trust Grand Forks, ND | $0 | $281,368 |
H W Grout Trust Waterloo, IA | $8,411,069 | $2,062,834 |