The Hormel Foundation
98% goes to programs Strong reserves Growing revenue
The Hormel Foundation is a 501(c)(3) organization based in Austin, Minnesota, registered in 1943, with $40,078,641 in FY2024 revenue. CharityIndex grades it A, and it directs about 98% of spending to programs.
329 N Main St Ste 102l, Austin, MN, 55912 EIN 41-0694716 Since 1943
Revenue (FY2024)
$40.1M
▼ 1.7% vs prior year
Philanthropy median: $168K
Expenses (FY2024)
$37.9M
Net assets
$858.6M
Employees
3
CharityIndex rating
One independent A+ to F grade from four published criteria, each scored separately from IRS filings and combined by weight.
A
A+Program efficiency40% of the rating98% to programs
Measures how much of every dollar spent actually reaches programs, plus what it costs to raise $100 of donations. The worse of the two measures sets the letter (85%+ to programs is an A; under $15 to raise $100 is an A), averaged over the three most recent filings. For The Hormel Foundation: 98% to programs earns a A+ on this criterion. See the exact thresholds →
B+Financial health25% of the rating272 mo reserves · +5% margin
Measures whether the organization is built to last: how many months its reserves would cover expenses (3+ months earns an A-range score, but hoarding 5+ years of budget is capped) and whether it runs a surplus or a deficit. For The Hormel Foundation: 272 mo reserves · +5% margin earns a B+ on this criterion. See the exact thresholds →
AGovernance25% of the rating5 of 6 checks met
Checks how the organization is run, from its own Form 990: an independent board majority, a board of five or more, conflict-of-interest, whistleblower and document-retention policies, and independently audited financials. The share of disclosed checks that pass sets the letter. For The Hormel Foundation: 5 of 6 checks met earns a A on this criterion. See the exact thresholds →
ATransparency10% of the rating4 of 5 disclosure signals
Counts five disclosure signals: a recent filing, a mission statement, program descriptions, a listed website, and the full expense breakdown. More disclosure, better letter. For The Hormel Foundation: 4 of 5 disclosure signals earns a A on this criterion. See the exact thresholds →
Show this grade on your website
A live seal — it updates automatically when the grade changes and links donors to this verified profile.
Mission
To serve as a charitable organization to benefit the austin community and as a trustee to various family trusts.
Contact & location
- Address
- 329 N Main St Ste 102l, Austin, MN, 55912
- City
- Austin
- State
- Minnesota
- Subcategory
- Public Foundations
- Phone
- …
- Website
- …
Financial trends
Revenue grew from $29.6M (FY2019) to $40.1M (FY2024) across 6 reported years.
Financial snapshot
Financial health & position (FY2024)
Liabilities $53.1MNet assets $858.6M
Operating margin
5.4%
Revenue exceeded expenses in the latest fiscal year.
Total assets
$911.7M
Total liabilities
$53.1M
Net assets
$858.6M
Salaries & benefits
$680K
2% of expenses
Board members
19
6 independent
Financials by year
| Fiscal year | Revenue | Expenses | Net assets | Total assets | Form |
|---|---|---|---|---|---|
| 2024 | $40,078,641▼1.7% | $37,931,759▲12.8% | $858,622,244▼23.2% | $911,683,026▼21.7% | 990 |
| 2023 | $40,768,849▲9.0% | $33,637,788▲14.3% | $1,117,363,423▲8.5% | $1,163,741,723▲8.8% | 990 |
| 2022 | $37,415,875▲8.9% | $29,418,311▲2.8% | $1,029,415,916▼31.5% | $1,069,654,211▼30.6% | 990 |
| 2021 | $34,366,937▼63.4% | $28,627,138▼10.7% | $1,503,247,113▲11.8% | $1,540,722,314▲11.4% | 990 |
| 2020 | $93,848,142▲217% | $32,074,053▲72.6% | $1,344,088,700▼6.1% | $1,383,157,373▼5.3% | 990 |
| 2019 | $29,596,789 | $18,582,274 | $1,431,709,466 | $1,460,095,517 | 990 |
Original Form 990 PDFs (the Form column) are served by ProPublica Nonprofit Explorer, as filed with the IRS. Create a free account to download the CSV report.
Leadership & compensation (FY2024)
Highest-paid: S S Dankert — $208,230 (0.55% of total expenses)
| Name | Title | Hours/week | Compensation |
|---|---|---|---|
| S S Dankert | Secretary/treasurer | 40 | $208,230 |
| R G Gentzler | Treasurer | — | $78,817 |
| B B Rietz | Director | — | $46,917 |
| S T Rizzi Jr | Acting Chair | 5 | $20,525 |
| D B Baker | Director | 1 | $19,275 |
| T J Dankert | Director | 1 | $17,500 |
| R J Kramer | Director | 1 | $15,500 |
| J M Page | Director | 1 | $14,975 |
| M M King | Director | 1 | $14,350 |
| M S Lanke | Director | 1 | $13,825 |
| R R Pavek | Director | 1 | $13,825 |
| N C Jandragholica | Director | 1 | $12,875 |
| S Y Salas-ramirez | Director | 1 | $12,875 |
| K L Linaker | Director | 1 | $12,775 |
| J W Erichson | Director | 1 | $12,250 |
| R R Clarke | Director | 1 | $10,350 |
| M R Ciota | Director | — | $10,200 |
| D S Aakre | Director | 1 | — |
| J A Woodard | Director | 1 | — |
| J E Poppe | Director | 1 | — |
Top vendors & contractors (FY2021)
| Contractor | Services | Paid |
|---|---|---|
| Adams Rizzi & Sween PA | Legal | $149,660 |
Grants received · $20K total
2 grants to The Hormel Foundation totaling $20K, reported by foundations on their Schedule I filings.
| Grantmaker | Purpose | Year | Amount |
|---|---|---|---|
| Mayo Clinic | Support charitable programs | 2015 | $10,000 |
| Mayo Clinic | Support exempt purpose | 2014 | $10,000 |
Grants made · $37.0M in FY2024
13 grants totaling $37.0M in FY2024. All grants made by The Hormel Foundation →
| Recipient | Purpose | Amount |
|---|---|---|
| University of Minnesota-the Hormel Institute | Support of operations | $22,611,300 |
| Austin Community Charitable Fund | Community projects | $5,380,000 |
| Riverland Community College | Scholarships and educational programs | $4,044,739 |
| Austin Public Schools | Educational programs | $1,486,193 |
| United Way of Mower County Inc | Support of various tax-exempt programs | $1,247,893 |
| City of Austin | Community projects | $942,694 |
| Young Mens Christian Association | Operations and programming | $296,131 |
| Salvation Army | Operations and programming | $290,000 |
| Cedar Valley Services Inc | Equipment | $236,336 |
| Parenting Resource Center Inc | Community programs | $225,000 |
| Austin Community Growth Ventures | Community projects | $130,000 |
| Mayo Clinic | Community program and equipment | $122,819 |
| Austin Community Scholarship Committee | Scholarships | $25,000 |
Similar organizations in Philanthropy
Philanthropy
Greater Twin Cities United Way
Minneapolis, MN
$42.8M
Aannual revenue
Philanthropy
Minneapolis Jewish Federation
St Louis Park, MN
$45.1M
Bannual revenue
Philanthropy
Communitygiving
Saint Cloud, MN
$46.2M
Bannual revenue
Philanthropy
Sibley Medical Center
Arlington, MN
$25.0M
Bannual revenue
Philanthropy
Nmdp Foundation
Minneapolis, MN
$24.3M
Bannual revenue
Philanthropy
Car Donation Foundation
St Louis Park, MN
$56.2M
Cannual revenue
Philanthropy
Propel Nonprofits
Minneapolis, MN
$23.0M
Bannual revenue
Philanthropy
3m Open Fund
Blaine, MN
$19.4M
Dannual revenue
Philanthropy
Childrens Cancer Research Fund
Minneapolis, MN
$18.9M
Bannual revenue
Philanthropy
New Harmony Care Center Inc
Edina, MN
$17.5M
Bannual revenue
Compare The Hormel Foundation
Frequently asked questions
- Is The Hormel Foundation a legitimate nonprofit?
- Yes. The Hormel Foundation is a 501(c)(3) organization registered with the U.S. Internal Revenue Service under EIN 41-0694716, based in Austin, Minnesota. Donations are tax-deductible.
- What is The Hormel Foundation's EIN?
- The Hormel Foundation's Employer Identification Number (EIN) is 41-0694716.
- How much revenue does The Hormel Foundation report?
- The Hormel Foundation reported $40,078,641 in total revenue on its fiscal year 2024 IRS Form 990 filing.
- How much of The Hormel Foundation's spending goes to programs?
- The Hormel Foundation spends about 98% of its total expenses on programs, based on its latest IRS Form 990.
- What financial grade does The Hormel Foundation have?
- CharityIndex grades The Hormel Foundation A, based on program efficiency and fundraising cost.
- How much does The Hormel Foundation's highest-paid employee make?
- The highest reported compensation on The Hormel Foundation's latest Form 990 is $208,230, paid to S S Dankert (Secretary/treasurer).
More nonprofits in Austin
Explore more
Data for The Hormel Foundation (EIN 41-0694716) comes from the IRS Business Master File and e-filed Form 990 returns, via CharityIndex. Figures reflect what the organization reported to the IRS for each fiscal year.