Howard And Katherine Hoenk Foundation
- Assets
- $3.6m
- Revenue
- $627.1k
- Investments
- $3.1m
- Employees
- 0
- Location
- Algona, IA
- Founding
- 07/1984
- Data as of
- 12/2021
- EIN
- 42-1228737
Organization Overview
Howard And Katherine Hoenk Foundation is located in Algona, IA. The organization was established in 1984. 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. Howard And Katherine Hoenk 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, Howard And Katherine Hoenk Foundation generated $627.1k in total revenue. This organization has experienced exceptional growth, as over the past 4 years, it has increased revenue by an average of 13.6% each year . All expenses for the organization totaled $429.9k during the year ending 12/2021. While expenses have increased by 3.0% per year over the past 4 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
990PF
Mission & Program ActivityExcerpts From the 990PF Filing
TAX YEAR
2021
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE DIRECTORS OF THE FOUNDATION HAVE DETERMINED THAT IT IS IN THE BEST INTEREST OF THE FOUNDATION TO MAKE CONTRIBUTIONS DIRECTLY TO TWO LOCAL SCHOOL DISTRICTS ENTITIES, BISHOP GARRIGAN HIGH SCHOOL AND THE ALGONA COMMUNITY COMMUNITY SCHOOL FOUNDATION, TO BE UTILIZED AS CONDUITS TO PROVIDE FINANCIAL ASSISTANCE IN THE FORM OF SCHOLARSHIPS FOR ALGONA/KOSSUTH COUNTY, IOWA, AREA STUDENTS. BISHOP GARRIGAN HIGH SCHOOL IS A NONPROFIT EDUCATIONAL INSTITUTION. THE ALGONA COMMUNITY SCHOOL FOUNDATION IS A TYPE I SUPPORTING ORGANIZATION FOR THE ALGONA COMMUNITY SCHOOL DISTRICT. THE NUMBER AND SIZE OF THE GRANTS ARE DETERMINED BY SAID SCHOOLS AFTER CONSULTATION WITH OUR BOARD.THE FOUNDATION MONITORS THE DISTRIBUTION OF THE SCHOLARSHIPS TO ASSURE THAT THE FUNDS ARE UTILIZED FOR THE ADVANCEMENT OF EDUCATION UNDER THE STANDARDS ESTABLISHED FOR SELECTING RECIPIENTS SPECIFIED IN THE FOUNDATION'S BYLAWS AND APPROVED BY INTERNAL REVENUE SERVICE. THE FOUNDATION ALSO PROVIDES GUIDELINES REGARDING THE NUMBER O
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Todd R Buchanan Chairman | 0 | $0 | |
Laurie L Vitzthum Treasurer | 1 | $0 | |
Jared Cecil Director | 1 | $0 | |
John Reding Director | 1 | $0 | |
Lynn Miller Director | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $0 |
| Interest on Savings | $20 |
| Dividends & Interest | $280,687 |
| Net Rental Income | $81,747 |
| Net Gain on Sale of Assets | $254,179 |
| Capital Gain Net Income | $254,179 |
| Net ST Capital Gain | $0 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $0 |
| Other Income | $0 |
| Total Revenue | $627,128 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $0 |
| Other employee salaries and wages | $0 |
| Pension plans, employee benefits | $0 |
| Interest | $0 |
| Taxes | $3,658 |
| Depreciation | $0 |
| Occupancy | $0 |
| Travel, conferences, and meetings | $0 |
| Printing and publications | $189 |
| Other expenses | $10,495 |
| Total operating and administrative expenses | $49,870 |
| Contributions, gifts, grants paid | $380,000 |
| Total expenses and disbursements | $429,870 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $207,217 |
| 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 | $3,140,085 |
| Net Land, buildings, and equipment | $208,231 |
| Other assets | $0 |
| Total assets | $3,555,533 |
| 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, Howard And Katherine Hoenk Foundation has awarded $380,000 in support to 2 organizations.
| Grant Recipient | Amount |
|---|---|
BISHOP GARRIGAN HIGH SCHOOL PURPOSE: SCHOLARSHIPS | $190,000 |
Algona, IA PURPOSE: SCHOLARSHIPS | $190,000 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Otto Bremer Trust St Paul, MN | $1,543,197,073 | $135,875,116 |
Walter Scott Family Foundation Omaha, NE | $596,551,475 | $88,689,053 |
Fulk Family Foundation Inc Chicago, IL | $111,507,856 | $5,187,231 |
The Robert D And Patricia E Kern Family Foundation Inc Waukesha, WI | $717,991,169 | $43,480,423 |
Grainger Foundation Inc Lake Forest, IL | $184,158,239 | $17,016,007 |
Crawford Taylor Foundation St Louis, MO | $738,101,888 | $69,635,068 |
Zell Family Foundation Chicago, IL | $0 | $76,843,080 |
The Richard M Schulze Family Foundation Minneapolis, MN | $250,424,427 | $45,882,285 |
Enterprise Holdings Foundation Saint Louis, MO | $398,583,830 | $68,157,541 |
Fred C And Katherine B Andersen Foundation Bayport, MN | $1,210,701,778 | $63,445,932 |
Abbvie Foundation North Chicago, IL | $72,211,109 | $4,010,058 |
Hall Family Foundation Kansas City, MO | $1,171,646,854 | $87,869,006 |