Hudson Folkerts Memorial Foundation Inc
- Assets
- $868.5k
- Revenue
- $45.0k
- Investments
- $623.2k
- Employees
- 0
- Location
- Washington, TX
- Founding
- 08/2013
- Data as of
- 12/2023
- EIN
- 45-3462150
Organization Overview
Hudson Folkerts Memorial Foundation Inc is located in Washington, TX. The organization was established in 2013. According to its NTEE Classification (K26) the organization is classified as: Animal Husbandry, under the broad grouping of Food, Agriculture & Nutrition and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Hudson Folkerts Memorial Foundation 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 12/2023, Hudson Folkerts Memorial Foundation Inc generated $45.0k 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 (18.0%) each year. All expenses for the organization totaled $90.0k during the year ending 12/2023. You can explore the organizations financials more deeply in the financial statements section below.
Since 2014, Hudson Folkerts Memorial Foundation Inc has awarded 737 individual grants totaling $972,243. 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
2023
Describe the Organization's Program Activity:
Part 3 - Line 4a
COLLEGE SCHOLARSHIPS: HUDSON FOLKERTS MEMORIAL FOUNDATION AWARDS COLLEGE SCHOLARSHIPS TO TOMBALL ISD GRADUATES WHO ARE INTERESTED IN PURSUING A DEGREE IN THE FIELD OF AGRICULTURE AT A COLLEGE OF THEIR CHOICE. FOLLOWING THE COMPLETION OF AN APPLICATION AND AN INTERVIEW, A STUDENT IS CONSIDERED FOR A SCHOLARSHIP BASED ON THE RESULTS, THEIR LEVEL OF COMMUNITY SERVICE, AND THEIR VOLUNTEER WORK WITH THE FOUNDATION. IN 2023, THE FOUNDATION AWARDED COLLEGE SCHOLARSHIPS TO 31 TOMBALL ISD GRADUATES.
ANIMAL SCHOLARSHIPS: HUDSON FOLKERTS MEMORIAL FOUNDATION (HFMF) ASSISTS STUDENTS WHO ARE INTERESTED IN RAISING ANIMALS FOR TOMBALL ISD'S FUTURE FARMERS OF AMERICA (FFA) PROGRAM WHO MAY NOT HAVE THE FINANCIAL RESOURCES TO BUY, FEED AND SHELTER AN ANIMAL. STUDENTS IN FFA CAN RAISE A VARIETY OF ANIMALS, INCLUDING STEERS, PIGS, LAMBS, GOATS, RABBITS, CHICKENS AND TURKEYS. FOLLOWING THE COMPLETION OF AN APPLICATION AND MEETING CERTAIN ESTABLISHED CRITERIA, A TOMBALL ISD STUDENT CAN BE AWARDED AN ANIMAL TO RAISE TO COMPETE IN THE ANNUAL TOMBALL FFA SHOW. IN 2023, 35 STUDENTS RECEIVED ANIMAL SCHOLARSHIPS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Kirk Folkerts President | 10 | $0 | |
Mandy Folkerts Vice President And Secretary | 15 | $0 | |
Bruce Burns Vice President | 5 | $0 | |
Randy Reeves Vice President | 5 | $0 | |
Linda Kubecka Finance Director And Treasurer | 15 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $200 |
| Interest on Savings | $379 |
| Dividends & Interest | $17,963 |
| Net Rental Income | $0 |
| Net Gain on Sale of Assets | $5,121 |
| Capital Gain Net Income | $5,121 |
| Net ST Capital Gain | $0 |
| Income Modifications | $21,290 |
| Profit on Inventory Sales | $0 |
| Other Income | $21,290 |
| Total Revenue | $44,953 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $0 |
| Other employee salaries and wages | $0 |
| Pension plans, employee benefits | $0 |
| Interest | $0 |
| Taxes | $203 |
| Depreciation | $0 |
| Occupancy | $0 |
| Travel, conferences, and meetings | $72 |
| Printing and publications | $0 |
| Other expenses | $3,251 |
| Total operating and administrative expenses | $8,280 |
| Contributions, gifts, grants paid | $81,717 |
| Total expenses and disbursements | $89,997 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $11,989 |
| Savings and temporary cash investments | $233,253 |
| 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 | $868,468 |
| 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, Hudson Folkerts Memorial Foundation Inc has awarded $81,717 in support to 77 organizations.
| Grant Recipient | Amount |
|---|---|
ELLE BRUHN PURPOSE: COLLEGE SCHOLARSHIP | $1,527 |
SHELBY CONES PURPOSE: COLLEGE SCHOLARSHIP | $1,527 |
MADILYN CORGILL PURPOSE: COLLEGE SCHOLARSHIP | $1,027 |
CHAYNE FOSTER PURPOSE: COLLEGE SCHOLARSHIP | $1,027 |
JAYLEE DAVIS PURPOSE: COLLEGE SCHOLARSHIP | $1,027 |
SAYLER ESTES PURPOSE: COLLEGE SCHOLARSHIP | $1,527 |