Hankinson Education Foundation
- Assets
- $800.8k
- Revenue
- $56.6k
- Investments
- $0.0
- Employees
- 0
- Location
- Hankinson, ND
- Founding
- 08/2016
- Data as of
- 12/2023
- EIN
- 81-1325430
Organization Overview
Hankinson Education Foundation is located in Hankinson, ND. The organization was established in 2016. According to its NTEE Classification (B82) the organization is classified as: Scholarships & Student Financial Aid, 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. Hankinson 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, Hankinson Education Foundation generated $56.6k in total revenue. This represents a relatively dramatic decline in revenue. Over the past 8 years, the organization has seen revenues fall by an average of (28.5%) each year. All expenses for the organization totaled $42.5k during the year ending 12/2023. 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
2023
Describe the Organization's Mission:
Part 3 - Line 1
FORMED TO HELP FOSTER IN HANKINSON PUBLIC SCHOOL STUDENTS AND GRADUATES ACADEMIC EXCELLENCE SELF CONFIDENCE INTEGRITY GOOD VALUE SYSTEM PASSION FOR LEARNING PERSONALITY DEVELOPOMENT TEAMWORK SCHOOL ENTHUSIASM UNITY AND TO ENDEAVOR TO MAKE THEM INTO WELL-ROUNDED RESPONSIBLE ADULTS
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE FOUNDATION WAS ENDOWED BY A GRADUATE OF THE HANKINSON PUBLIC SCHOOL DISTRICT FOR THE PURPOSE OF PROVIDING COLLEGE SCHOLARSHIPS TO GRADUATESOF THE HANKINSON PUBLIC SCHOOL DISTRICT WITH A GPA OF AT LEAST 3.0 BASED ON A 4.0 SCALE AND WHO CHOOSE TO ATTEND COLLEGE OR UNIVERSITY LOCATED IN THE STATE OF NORTH DAKOTA. FOUR SCHOLARSHIPS ARE AWARDED TO HANKINSON HIGH SCHOOL STUDENTS EACH YEAR AND ARE IN THE AMOUNT OF $ 2,000 PER ACADEMIC YEAR. RECIPIENTS CAN RENEW THEIR SCHOLARSHIPS YEARLY FOR AN ADDITIONAL THREE YEARS FOR A TOTAL OF FOUR YEARS PROVIDED THAT THEY CONTINUE TO NE ENROLLED FULL TIME IN A NORTH DAKOTA COLLEGE OR UNIVERSITYAND THAT THEY CAN MAINTAIN AT LEAST A 3.0 GPA BASED ON A SCALE OF 4.0. THE AWARD OF SCHOLARSHIPS ARE BASED ON HIGH SCHOOL ACADEMIC PERFORMANCE HIGH SCHOOL EXTRACURRICULAR AND COMMUNITY INVOLVEMENT AND INTENDED COURSE OF THE RECIPIENTS STUDY WITH AN EMPHASIS BEING PLACED ON MATH AND SCIENCE. FOUR NEW SCHOLARSHIPS WILL BE AWARDED ANNUALLY TO HIGH SCHOOL SENIORS AND FOR THEIR FIRST YEAR OF COLLEGE PROVIDED THAT ALL OF THE RECIPIENTS RE-APPLY FOR ADDITIONAL SCHOLARSHIP THE FOUNDATION INTENDS AFTER FOUR YEARS TO HAVE 16 SCHOLARSHIPS AWARDED.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Nick Foertsch Director | Trustee | 1 | $0 |
Matthew Asp Director | Trustee | 1 | $0 |
Tera Paulson Director | Trustee | 1 | $0 |
Kristi Jean Treasurer | Officer | 1 | $0 |
Darwin Kratcha President | Officer | 1 | $0 |
Jeff Stein Vice President | Officer | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $68 |
| All other contributions, gifts, grants, and similar amounts not included above | $0 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $68 |
| Total Program Service Revenue | $0 |
| Investment income | $36,016 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $20,524 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $56,608 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $16,961 |
| Grants and other assistance to domestic individuals. | $23,250 |
| 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 | $800 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $495 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $0 |
| Office expenses | $0 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $940 |
| 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 | $0 |
| All other expenses | $90 |
| Total functional expenses | $42,536 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $31,803 |
| Savings and temporary cash investments | $0 |
| 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 | $768,952 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $800,755 |
| 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 | $0 |
| Net assets with donor restrictions | $0 |
| 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 | $800,755 |
| Total liabilities and net assets/fund balances | $800,755 |