The Hormel Foundation
329 N Main St Ste 102l, Austin, MN · IRS data through FY2025
Revenue, expenses and net assets
Revenue Expenses Net assets
| Tax year | Revenue | Expenses | Net assets |
|---|---|---|---|
| FY2025 | $40,078,641 | $37,931,759 | $858,622,244 |
| FY2024 | $40,768,849 | $33,637,788 | $1,117,363,423 |
| FY2023 | $37,415,875 | $29,418,311 | $1,029,415,916 |
| FY2022 | $34,366,937 | $28,627,138 | $1,503,247,113 |
| FY2021 | $93,848,142 | $32,074,053 | $1,344,088,700 |
| FY2020 | $29,596,789 | $18,582,274 | $1,431,709,466 |
| FY2019 | $76,811,912 | $21,094,632 | $1,336,167,923 |
| FY2018 | $25,370,690 | $26,467,945 | $1,282,099,320 |
| FY2017 | $27,304,605 | $16,753,321 | $1,043,393,915 |
| FY2016 | $21,715,069 | $39,489,938 | $971,018,416 |
| FY2015 | $44,596,803 | $19,573,247 | $1,078,404,735 |
| FY2014 | $18,816,823 | $25,109,482 | $773,186,713 |
| FY2013 | $13,187,207 | $32,679,356 | $666,120,234 |
| FY2012 | $57,871,541 | $9,514,313 | $483,769,225 |
Form 990 filings
The returns filed by The Hormel Foundation (EIN 41-0694716), including Form 990 PDFs and e-file data by year, are available in ProPublica's Nonprofit Explorer. The figures on this page come from IRS data files built from those returns.
Where the revenue came from
| Source | Amount | % of revenue |
|---|---|---|
| Contributions & grants | $1,200 | <1% |
| Program service revenue | $0 | 0% |
| Other revenue | $40,077,441 | 100% |
Where the money was spent
| Category | Amount | % of expenses |
|---|---|---|
| Program services | $37,029,749 | 98% |
| Management & general | $902,010 | 2% |
| Fundraising | $0 | 0% |
What the numbers show
- Other revenue made up 100% of total revenue in FY2025.
- Program services accounted for 98% of functional expenses, management & general 2%, and fundraising 0%.
- 98% of functional expenses went to program services in FY2025. That is higher than 95.2% of 21 Philanthropy, Voluntarism & Grantmaking Foundations organizations in MN.
- Net assets covered about 271.6 months of expenses at the end of the reporting year. That puts it in the 91st percentile among 1200 Philanthropy, Voluntarism & Grantmaking Foundations organizations in MN.
- Total revenue was higher than 98.9% of 1215 Philanthropy, Voluntarism & Grantmaking Foundations organizations in MN.
- Total revenue fell from $57,871,541 in FY2012 to $40,078,641 in FY2025. Revenue increased in 7 and decreased in 6 of 13 year-over-year comparisons.
- Expenses exceeded revenue in 4 of 14 reported years (FY2013, FY2014, FY2016, FY2018).
- The highest revenue on record here is $93,848,142 in FY2021.
- Net assets grew from $483,769,225 to $858,622,244 between FY2012 and FY2025.
- Contributions and grants made up 78% of revenue in FY2012 and 0% in FY2025.
- Listed in the IRS Publication 78 data as eligible to receive tax-deductible contributions (supporting organization, type unspecified).
Figures compared against other organizations of the same NTEE program area in the same state. See the methodology page for how these are calculated and the guide to reading nonprofit financials for their limits.
About this organization
To serve as a charitable organization to benefit the Austin community and as a trustee to various family trusts.
IRS status
| Ruling year | 1943 |
| Subsection | 501(c)(3) |
| Classification | Public charity |
| Program area (NTEE) | T30 — Philanthropy, Voluntarism & Grantmaking Foundations (in MN) |
| Donations | Listed in the IRS Publication 78 data as eligible to receive tax-deductible contributions (supporting organization, type unspecified). |
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Source: Internal Revenue Service — Exempt Organizations Business Master File (downloaded November 4, 2026), Statistics of Income extracts, Form 990 e-file data, Publication 78 and the Automatic Revocation list. Figures are as reported by the organization; IRS processing may adjust them. This is not a charity rating and not tax advice. Confirm deductibility in IRS Tax Exempt Organization Search.
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