Herak Foundation
- Assets
- $427.7k
- Revenue
- $10.6k
- Investments
- $395.9k
- Employees
- 0
- Location
- Priest Lake, ID
- Founding
- 04/1995
- Data as of
- 12/2021
- EIN
- 91-1621226
Organization Overview
Herak Foundation is located in Priest Lake, ID. The organization was established in 1995. 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. Herak 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, Herak Foundation generated $10.6k in total revenue. This represents a relatively dramatic decline in revenue. Over the past 4 years, the organization has seen revenues fall by an average of (20.3%) each year. All expenses for the organization totaled $39.1k during the year ending 12/2021. As we would expect to see with falling revenues, expenses have declined by (14.2%) per year over the past 4 years. 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
NONE
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Marc A Dorendorf Trustee | 1 | $0 | |
Donna Herak Trustee | 1 | $0 | |
Jerome P Herak Trustee | 0 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $0 |
| Interest on Savings | $2,894 |
| Dividends & Interest | $8,348 |
| Net Rental Income | $0 |
| Net Gain on Sale of Assets | -$686 |
| Capital Gain Net Income | $0 |
| Net ST Capital Gain | $0 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $0 |
| Other Income | $0 |
| Total Revenue | $10,556 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $0 |
| Other employee salaries and wages | $0 |
| Pension plans, employee benefits | $0 |
| Interest | $0 |
| Taxes | $0 |
| Depreciation | $0 |
| Occupancy | $0 |
| Travel, conferences, and meetings | $0 |
| Printing and publications | $0 |
| Other expenses | $2,575 |
| Total operating and administrative expenses | $2,575 |
| Contributions, gifts, grants paid | $36,500 |
| Total expenses and disbursements | $39,075 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $31,830 |
| 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 | $427,720 |
| 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, Herak Foundation has awarded $36,500 in support to 10 organizations.
| Grant Recipient | Amount |
|---|---|
GONZAGA UNIVERSITY PURPOSE: DONATION | $12,500 |
Spokane, WA PURPOSE: DONATION | $9,000 |
LADY OF LOURDES PURPOSE: DONATION | $6,000 |
Spokane, WA PURPOSE: DONATION | $3,000 |
Irondale, AL PURPOSE: DONATION | $1,000 |
ST BLANCHE CHURCH PURPOSE: DONATION | $1,000 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Davis Education Foundation Farmington, UT | $5,085,973 | $8,327,640 |
Western States Learning Corporation Cheyenne, WY | $7,278,085 | $6,097,150 |
J R Simplot Company Foundation Inc Boise, ID | $71,703,701 | $5,686,010 |
College Spark Washington Seattle, WA | $104,693,147 | $3,230,019 |
Idaho Association For The Education Of Young Children Boise, ID | $1,636,700 | $5,141,669 |
Pwh Educational Foundation Inc Spokane, WA | $62,473,304 | $11,260,767 |
Zions Bancorporation Foundation Salt Lake City, UT | $5,900,087 | $233,506 |
College Dreams Inc Grants Pass, OR | $2,542,440 | $3,694,638 |
Bilinski Educational Foundation Reno, NV | $12,333,809 | $1,097,407 |
The Nu Skin Force For Good Foundation Provo, UT | $3,982,547 | $2,620,205 |
Fulfillment Fund Las Vegas Las Vegas, NV | $10,816,136 | $2,808,590 |
Esther H Ludwig Scholarships Las Vegas, NV | $27,220,908 | $1,601,352 |