Hibbing College Foundation
- Assets
- $1.4m
- Revenue
- $193.4k
- Investments
- $0.0
- Employees
- 0
- Location
- Hibbing, MN
- Founding
- 11/1965
- Data as of
- 06/2022
- EIN
- 41-6046970
Organization Overview
Hibbing College Foundation is located in Hibbing, MN. The organization was established in 1965. According to its NTEE Classification (B11) the organization is classified as: Single Organization Support, 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. Hibbing College 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 06/2022, Hibbing College Foundation generated $193.4k in total revenue. This organization has experienced exceptional growth, as over the past 7 years, it has increased revenue by an average of 10.1% each year . All expenses for the organization totaled $209.7k during the year ending 06/2022. While expenses have increased by 17.2% per year over the past 7 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.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2022
Describe the Organization's Mission:
Part 3 - Line 1
PROVIDE ASSISTANCE TO MINNESOTA NORTH COLLEGE HIBBING
Describe the Organization's Program Activity:
Part 3 - Line 4a
TO ASSIST IN THE ADVANCEMENT OF EDUCATION BY AWARDING SCHOLARSHIPS TO THE STUDENTS OF MINNESOTA NORTH COLLEGE HIBBING AND PROVIDE DIRECT ASSISTANCE TO THE COLLEGE
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Krystle Glad President | OfficerTrustee | 1 | $0 |
Kimberly Thomas Treasurer | OfficerTrustee | 1 | $0 |
David Jordan Vice President | OfficerTrustee | 1 | $0 |
Jane Brownlee Secretary | OfficerTrustee | 1 | $0 |
Brian Simonson Director | Trustee | 1 | $0 |
Rian Burkes Director | Trustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $142,160 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $142,160 |
| Total Program Service Revenue | $0 |
| Investment income | $26,267 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $24,941 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $193,368 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $78,525 |
| Grants and other assistance to domestic individuals. | $64,846 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $0 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $0 |
| Fees for services: Management | $41,025 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $800 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $21,979 |
| Fees for services: Other | $0 |
| Advertising and promotion | $1,130 |
| Office expenses | $39 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $1,299 |
| All other expenses | $25 |
| Total functional expenses | $209,668 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $26,418 |
| Savings and temporary cash investments | $197,700 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $0 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $0 |
| Net Land, buildings, and equipment | $0 |
| Investments—publicly traded securities | $1,210,872 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $1,434,990 |
| Accounts payable and accrued expenses | $0 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| 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 | $0 |
| Total liabilities | $0 |
| Net assets without donor restrictions | $268,976 |
| Net assets with donor restrictions | $1,166,014 |
| 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 | $1,434,990 |
Grants Recieved
Over the last fiscal year, we have identified 6 grants that Hibbing College Foundation has recieved totaling $88,493.
| Awarding Organization | Amount |
|---|---|
Schwab Charitable Fund San Francisco, CA PURPOSE: EDUCATION | $50,000 |
Saint Paul & Minnesota Foundation Saint Paul, MN PURPOSE: MULTIPLE GRANTS FOR MULTIPLE PURPOSES | $17,950 |
Owens Family Charitable Foundation Wilmington, DE PURPOSE: COMPLETE FUNDING FOR THE NEW SKY PROJECTOR | $15,000 |
Arsher Charitable Trust Hibbing, MN PURPOSE: GENERAL SUPPORT | $5,000 |
Park Dental Foundation Roseville, MN PURPOSE: GENERAL PURPOSES | $500 |
Amazonsmile Foundation Seattle, WA PURPOSE: GENERAL SUPPORT | $43 |
Endowment Analysis
| Beg. Balance | $1,445,908 |
| Earnings | -$248,653 |
| Admin Expense | $21,979 |
| Net Contributions | $120,613 |
| Grants | $129,875 |
| Ending Balance | $1,166,014 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Und Aerospace Foundation Grand Forks, ND | $87,259,673 | $35,764,126 |
South Dakota State University Foundation Brookings, SD | $287,960,105 | $54,798,337 |
Und Alumni Association And Foundation Grand Forks, ND | $413,170,247 | $55,226,015 |
North Dakota State University Foundation Fargo, ND | $450,450,295 | $29,663,255 |
Northern State University Foundation Aberdeen, SD | $84,974,607 | $23,577,331 |
University Of South Dakota Foundation Vermillion, SD | $352,818,128 | $49,591,248 |
Ics Support Organization Inc Franklin, WI | $552,959,577 | $28,861,342 |
University Of Northern Iowa Foundation Cedar Falls, IA | $173,378,893 | $31,725,389 |
National Assistance Foundation Des Moines, IA | $16,519,301 | $16,875,706 |
Sioux Falls Christian Schools Association Sioux Falls, SD | $33,580,780 | $15,294,565 |
University Research Park Inc Madison, WI | $162,117,796 | $19,527,506 |
Grinnell College Medical Benefit Plan Trust Agreement Grinnell, IA | $11,174,588 | $9,791,771 |