Overview
What is Hedin-Hartnagel Memorial Fund?
The Hedin-Hartnagel Memorial Fund is a nonprofit organization based in Red Wing, Minnesota. Established in 1955, their primary mission is to offer low-interest student loans to graduates of Red Wing High School for further education. In 2022 alone, they issued 76 new loans totaling $103,500. Over the years, the fund has aided a substantial number of students, with 1,244 beneficiaries receiving a cumulative sum of over $3,865,023 in low-interest loans. Repaid principal and interest from these loans are recycled back into the fund, ensuring that it continues to support future students in their post-secondary education endeavors.
Is Hedin-Hartnagel Memorial Fund legitimate?
Hedin-Hartnagel Memorial Fund is a legitimate nonprofit organization registered as a 501(c)(3) entity. Hedin-Hartnagel Memorial Fund submitted a form 990, which is a tax form used by tax-exempt organizations in the U.S., indicating its operational transparency and adherence to regulatory requirements. Donations to this organization are tax deductible.
Heare are some key statistics you may want to consider:
Executive Compensation: $11,499
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Other Salaries and Wages: $0
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What is the mission statement of Hedin-Hartnagel Memorial Fund?
The Hedin-Hartnagel Memorial Fund's mission is centered around providing low-interest student loans to graduates of Red Wing High School, enabling them to pursue post-secondary education. Established in 1955, the fund has extended such financial aid to over 1,200 students, totaling over $3.8 million in loans. In 2022 alone, 76 new loans amounting to $103,500 were issued. The repayment of these loans contributes to the fund's pool, enabling it to continue offering low-interest student loans in the future.
What is the revenue of Hedin-Hartnagel Memorial Fund?
Hedin-Hartnagel Memorial Fund's revenue in 2024 was $41,259.
Who are the executives of Hedin-Hartnagel Memorial Fund and what are their salaries?
Here are 12 key members and their salaries:
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Where can I find the form 990 for Hedin-Hartnagel Memorial Fund?
Hedin-Hartnagel Memorial Fund's most recent form 990 was submitted in 2024 and can be accessed here.
Mission Statement of Hedin-Hartnagel Memorial Fund
The Hedin-Hartnagel Memorial Fund is a dedicated organization that aims to provide low-interest student loans to graduates of Red Wing High School for their post-secondary education. Established in 1955, this fund has been a valuable resource for over 1,200 students, providing them with a collective sum of over $3.8 million in financial aid. In 2022 alone, the fund issued 76 new loans totaling $103,500. The unique aspect of this fund lies in the fact that the principal and interest received upon repayment of these loans are returned to the pool, ensuring that the funds can continue to support future students in need of financial assistance for their higher education. By providing this service, the Hedin-Hartnagel Memorial Fund is playing a significant role in making post-secondary education more accessible to deserving individuals.
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Impact
August, 2024
The Hedin-Hartnagel Memorial Fund's impact is significant in providing low-interest student loans to Red Wing High School graduates for post-secondary education. Since its inception in 1955, the fund has supported 1,244 students with over $3,865,023 in loans. In 2022 alone, 76 new loans totaling $103,500 were issued. The repayment of these loans ensures sustainability, as the principal and interest received are reinvested into the fund to support future generations of students. This initiative plays a crucial role in enabling students to pursue higher education and achieve their academic goals in Red Wing, Minnesota.
This information is meant to be a general summary of Hedin-Hartnagel Memorial Fund. Please take the time to review official sources before making any decisions based upon the content provided here.
Financials
This financial information is from Propublica.
Other financial information:
This information is from the most recently submitted tax form from this organization, which was in 2024.
- Investment Income: $21,191
- Program Service Revenue: $11,128
- Gross Receipts: $41,259
Assets and Liabilities:
- Total Assets: $1,064,474
- Total Liabilities: $22
- Net Assets: $1,064,452
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
STUDENT LOAN INTEREST
Revenue
$11,128
Organization Details
Founding Year
1955
Principal Officer
Elizabeth Knapp
NTEE Category
Code: B82Z - Education
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