Civic Intelligence

Hedin-Hartnagel Memorial Fund

EIN 41-6159209 • 501(c)3 • Red Wing, MN

Profile

To provide low-interest student loans to red wing high school graduates for post-secondary education.

PO Box 222Red Wing, MN 55066

n/A

Siviq Scores

Precomputed percentiles relative to similar nonprofits. These scores are descriptive rather than judgmental.

Liabilities / Assets

19th percentile

0.00x

Higher debt load relative to assets than 19% of similar nonprofits.

501(c)3 • $1M-$5M nonprofits • Source year 2023

Liabilities / Revenue

27th percentile

0.01x

Higher debt load relative to revenue than 27% of similar nonprofits.

501(c)3 • $1M-$5M nonprofits • Source year 2023

Net Margin

89th percentile

50%

Higher net margin than 89% of similar nonprofits.

501(c)3 • $1M-$5M nonprofits • Source year 2023

Top Officer Pay

Score unavailable

No value available

No filing with officer rows is available for this organization yet.

Asset Growth

43rd percentile

1.5%

Faster asset growth than 43% of similar nonprofits.

501(c)3 • $1M-$5M nonprofits • Annualized from 2022 to 2023

Revenue Growth

90th percentile

82%

Faster revenue growth than 90% of similar nonprofits.

501(c)3 • $1M-$5M nonprofits • Annualized from 2022 to 2023

Balance Sheet
Liabilities / Assets19th percentile

Assets

Up

$1,109,272

Up $28,338 (+2.6%) from 2023

Liabilities

Up

$5,073

Up $4,848 (+2155%) from 2023

Net Assets

Up

$1,104,199

Up $23,490 (+2.2%) from 2023

Operations
Liabilities / Revenue27th percentileNet Margin89th percentile

Revenue

Up

$41,259

Up $9,054 (+28%) from 2023

Expenses

Up

$17,769

Up $1,821 (+11%) from 2023

Net Income

Up

$23,490

Up $7,233 (+44%) from 2023

Trend Graphs

Balance Sheet Trend

Asset Growth43rd percentile

Grouped bars show assets, liabilities, and net assets across loaded filings.

$1.5M$1.0M$500K$0Assets 2011: $920,959Liabilities 2011: $0Net Assets 2011: $920,9592011Assets 2012: $977,245Liabilities 2012: $0Net Assets 2012: $977,2452012Assets 2013: $984,691Liabilities 2013: $82Net Assets 2013: $984,6092013Assets 2014: $1,031,289Liabilities 2014: $0Net Assets 2014: $1,031,2892014Assets 2015: $1,040,868Liabilities 2015: $0Net Assets 2015: $1,040,8682015Assets 2016: $1,042,985Liabilities 2016: $0Net Assets 2016: $1,042,9852016Assets 2017: $1,050,006Liabilities 2017: $0Net Assets 2017: $1,050,0062017Assets 2018: $1,033,022Liabilities 2018: $0Net Assets 2018: $1,033,0222018Assets 2019: $1,040,097Liabilities 2019: $0Net Assets 2019: $1,040,0972019Assets 2020: $1,053,416Liabilities 2020: $0Net Assets 2020: $1,053,4162020Assets 2021: $1,061,768Liabilities 2021: $144Net Assets 2021: $1,061,6242021Assets 2022: $1,064,474Liabilities 2022: $22Net Assets 2022: $1,064,4522022Assets 2023: $1,080,934Liabilities 2023: $225Net Assets 2023: $1,080,7092023Assets 2024: $1,109,272Liabilities 2024: $5,073Net Assets 2024: $1,104,1992024

Highlighted filing

2024

Assets$1,109,272
Liabilities$5,073
Net Assets$1,104,199
Open 2024 Filing

Operations Trend

Revenue Growth90th percentile

Revenue, expenses, and net income by year, with the latest filing highlighted.

$100K$50K$0-$50KRevenue 2011: $36,371Expenses 2011: $11,257Net Income 2011: $25,1142011Revenue 2012: $68,651Expenses 2012: $12,365Net Income 2012: $56,2862012Revenue 2013: $26,505Expenses 2013: $19,141Net Income 2013: $7,3642013Revenue 2014: $43,295Expenses 2014: $12,242Net Income 2014: $31,0532014Revenue 2015: $22,352Expenses 2015: $12,773Net Income 2015: $9,5792015Revenue 2016: $18,489Expenses 2016: $16,372Net Income 2016: $2,1172016Revenue 2017: $20,546Expenses 2017: $13,525Net Income 2017: $7,0212017Revenue 2018: $6,141Expenses 2018: $35,579Net Income 2018: -$29,4382018Revenue 2019: $9,579Expenses 2019: $15,785Net Income 2019: -$6,2062019Revenue 2020: $27,310Expenses 2020: $13,991Net Income 2020: $13,3192020Revenue 2021: $22,783Expenses 2021: $14,575Net Income 2021: $8,2082021Revenue 2022: $17,737Expenses 2022: $14,909Net Income 2022: $2,8282022Revenue 2023: $32,205Expenses 2023: $15,948Net Income 2023: $16,2572023Revenue 2024: $41,259Expenses 2024: $17,769Net Income 2024: $23,4902024

Highlighted filing

2024

Revenue$41,259
Expenses$17,769
Net Income$23,490
Open 2024 Filing

Filings

Most recent year

2024 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$1,109,272
Liabilities
$5,073
Net assets
$1,104,199
Revenue
$41,259
Expenses
$17,769
Net income
$23,490
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Detailed filing. Detailed filing data is available for this year.$1.11$0.01$1.10$0.04$0.02$0.02
2023Detailed filing. Detailed filing data is available for this year.$1.08$0.00$1.08$0.03$0.02$0.02
2022Detailed filing. Detailed filing data is available for this year.$1.06$0.00$1.06$0.02$0.01$0.00
2021Detailed filing. Detailed filing data is available for this year.$1.06$0.00$1.06$0.02$0.01$0.01
2020Detailed filing. Detailed filing data is available for this year.$1.05$0.00$1.05$0.03$0.01$0.01
2019Summary only. Only limited summary data is available for this year.$1.04$0.00$1.04$0.01$0.02$0.01
2018Summary only. Only limited summary data is available for this year.$1.03$0.00$1.03$0.01$0.04$0.03
2017Summary only. Only limited summary data is available for this year.$1.05$0.00$1.05$0.02$0.01$0.01
2016Summary only. Only limited summary data is available for this year.$1.04$0.00$1.04$0.02$0.02$0.00
2015Summary only. Only limited summary data is available for this year.$1.04$0.00$1.04$0.02$0.01$0.01
2014Summary only. Only limited summary data is available for this year.$1.03$0.00$1.03$0.04$0.01$0.03
2013Summary only. Only limited summary data is available for this year.$0.98$0.00$0.98$0.03$0.02$0.01
2012Summary only. Only limited summary data is available for this year.$0.98$0.00$0.98$0.07$0.01$0.06
2011Summary only. Only limited summary data is available for this year.$0.92$0.00$0.92$0.04$0.01$0.03
Latest Filing Detail
Jump To
Filing Snapshot
Filing Period
Jan 1, 2024 to Dec 31, 2024
Signed
Apr 25, 2025
Return Version
2024v5.1
Gross Receipts
$41,259
Mission and Program Overview

Mission

To provide low-interest student loans to red wing high school graduates for post-secondary education.

Balance Sheet Detail
LineBeginningEndChange
Assets
Rtn Earn Endowment Incm Other Fnds$1,080,709$1,104,199▲ $23,490
Accounts Receivable$585,769$580,628▼ $5,141
Savings and Temporary Cash Investments$393,663$414,852▲ $21,189
Cash and Non-Interest-Bearing Accounts$101,502$113,792▲ $12,290
Total Assets$1,080,934$1,109,272▲ $28,338
Liabilities
Accounts Payable and Accrued Expenses$225$5,073▲ $4,848
Total Liabilities$225$5,073▲ $4,848
Net Assets / Fund Balance
Total Net Assets Fund Balance$1,080,709$1,104,199▲ $23,490
Total Liabilities and Net Assets / Fund Balance$1,080,934$1,109,272▲ $28,338
Compensation and Service Providers
Top Officer PayScore unavailable

Employees

NameTitleFull / Part TimeOtherTotal
Erin AugustinExecutive SecretaryPT$11,499$11,499

Board Members and Trustees

NameTitle
Elizabeth KnappPresident
Jim LeiseVice-president
Doug BayleyDirector
Grady NelsonDirector
Jake BjornstadDirector
Meridith WardleDirector
Mick WendlandDirector
Ross LexvoldDirector
Steve BeechDirector
Traci SonjuDirector
Stacy SteinTreasurer
Revenue and Support

Revenue Composition

Contributions and Grants
$8,940
Program Service Revenue
$11,128
Investment Income
$21,191
Other Revenue
$0
All Other Contributions
$8,940
Change in Net Assets
$23,490
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Salaries, Compensation, and Employee Benefits$11,499
Other Expenses$6,270
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Current Officers, Directors, Trustees, and Key Employees$11,499$0$0$11,499
Office Expenses$0$1,436$0$1,436
Fees for Services Accounting$0$484$0$484
Other Expenses$0$407$0$407
Total Functional Expenses$11,342$6,427$0$17,769
Fundraising, Events, and Gaming
Fundraising activities
No
Gaming activities
No
Professional fundraiser used
No

Fundraising and Gaming Totals

Line ItemAmount
Professional Fundraising Fees$0
Political and Lobbying Activity
Political campaign activity
No
Lobbying activity
No
Subject to proxy tax
No
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
Yes
Backup withholding compliance
Yes
Business relationship with 35% controlled entity
No
Business relationship with family members
No
Business relationship with organization members
No
Material changes to governing documents
No
Compensation from other sources disclosed
No
CEO compensation reviewed
No
Other officer compensation reviewed
No
Conflict-of-interest policy
Yes
Audited financial statements prepared
No
Key decisions subject to board approval
No
Management duties delegated
No
Filing and Contact Details

Filer

Filer Name
Hedin-hartnagel Memorial Fund
EIN
41-6159209
Phone
6513010474
Address
PO BOX 222, RED WING, MN 55066
Doing Business As
Same

Signing Officer

Name
Stacey Stein
Title
Treasurer
Phone
6513010474
Signed
2025-04-25
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Elizabeth Knapp
Formed
1955
Legal Domicile
Mn
Voting Board Members
11
Independent Board Members
11
Employees
0
Volunteers
0

Preparer

Firm
Marklevits Ltd
Address
421 W 4th St Suite 1, Red Wing, MN 55066
Preparer
David G Marklevits
Phone
6513881940
Supplemental Narrative

Additional Explanations

Pt VI, Line 11B

“The form 990 is reviewed by all officers and directors at the meeting immediately preceding the submission of the form.”

Pt VI, Line 12C

“At the annual meeting all officers and directors are required to disclose and document any and all interests that could give rise to a conflict of interest.”

Pt VI, Line 19

“The governing documents, financial statements and tax returns are available to the public for viewing upon request.”

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This appendix keeps the raw XML leaves available for debugging and edge-case review. The human report above is the primary experience.

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IRS990/RevenueAmt011128
IRS990/RtnEarnEndowmentIncmOthFndsGrp/BOYAmt01080709
IRS990/RtnEarnEndowmentIncmOthFndsGrp/EOYAmt01104199
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IRS990ScheduleA/AmountsRcvdDsqlfyPersonGrp/CurrentTaxYearMinus2YearsAmt0783
IRS990ScheduleA/AmountsRcvdDsqlfyPersonGrp/CurrentTaxYearMinus3YearsAmt0200
IRS990ScheduleA/AmountsRcvdDsqlfyPersonGrp/CurrentTaxYearMinus4YearsAmt01250
IRS990ScheduleA/AmountsRcvdDsqlfyPersonGrp/TotalAmt09883
IRS990ScheduleA/GiftsGrantsContrisRcvd509Grp/CurrentTaxYearAmt08940
IRS990ScheduleA/GiftsGrantsContrisRcvd509Grp/CurrentTaxYearMinus1YearAmt016491
IRS990ScheduleA/GiftsGrantsContrisRcvd509Grp/CurrentTaxYearMinus2YearsAmt07785
IRS990ScheduleA/GiftsGrantsContrisRcvd509Grp/CurrentTaxYearMinus3YearsAmt011400
IRS990ScheduleA/GiftsGrantsContrisRcvd509Grp/CurrentTaxYearMinus4YearsAmt012062
IRS990ScheduleA/GiftsGrantsContrisRcvd509Grp/TotalAmt056678
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IRS990ScheduleA/GrossInvestmentIncome509Grp/CurrentTaxYearMinus2YearsAmt01180
IRS990ScheduleA/GrossInvestmentIncome509Grp/CurrentTaxYearMinus3YearsAmt01664
IRS990ScheduleA/GrossInvestmentIncome509Grp/CurrentTaxYearMinus4YearsAmt03004
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IRS990ScheduleA/GrossReceiptsAdmissionsGrp/CurrentTaxYearMinus2YearsAmt08772
IRS990ScheduleA/GrossReceiptsAdmissionsGrp/CurrentTaxYearMinus3YearsAmt09719
IRS990ScheduleA/GrossReceiptsAdmissionsGrp/CurrentTaxYearMinus4YearsAmt012244
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IRS990ScheduleA/InvestmentIncomeAndUBTIGrp/CurrentTaxYearMinus4YearsAmt03004
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IRS990ScheduleA/SubstAndDsqlfyPrsnsTotGrp/CurrentTaxYearMinus4YearsAmt01250
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IRS990ScheduleA/Total509Grp/CurrentTaxYearMinus2YearsAmt016557
IRS990ScheduleA/Total509Grp/CurrentTaxYearMinus3YearsAmt021119
IRS990ScheduleA/Total509Grp/CurrentTaxYearMinus4YearsAmt024306
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IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0THE FORM 990 IS REVIEWED BY ALL OFFICERS AND DIRECTORS AT THE MEETING IMMEDIATELY PRECEDING THE SUBMISSION OF THE FORM.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1AT THE ANNUAL MEETING ALL OFFICERS AND DIRECTORS ARE REQUIRED TO DISCLOSE AND DOCUMENT ANY AND ALL INTERESTS THAT COULD GIVE RISE TO A CONFLICT OF INTEREST.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2THE GOVERNING DOCUMENTS, FINANCIAL STATEMENTS AND TAX RETURNS ARE AVAILABLE TO THE PUBLIC FOR VIEWING UPON REQUEST.
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0Pt VI, Line 11b
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1Pt VI, Line 12c
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2Pt VI, Line 19
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IRS990/TotalFunctionalExpensesGrp/ProgramServicesAmt011342
IRS990/TotalFunctionalExpensesGrp/TotalAmt017769
IRS990/TotalGrossUBIAmt00
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IRS990/TotalNetAssetsFundBalanceGrp/BOYAmt01080709
IRS990/TotalNetAssetsFundBalanceGrp/EOYAmt01104199
IRS990/TotalOtherCompensationAmt00
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IRS990/TotalProgramServiceRevenueAmt011128
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IRS990/TotalRevenueGrp/RelatedOrExemptFuncIncomeAmt011128
IRS990/TotalRevenueGrp/TotalRevenueColumnAmt041259
IRS990/TotalRevenueGrp/UnrelatedBusinessRevenueAmt00
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IRS990/USAddress/AddressLine1Txt03065 COUGAR COURT
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IRS990/VotingMembersGoverningBodyCnt011
IRS990/VotingMembersIndependentCnt011
IRS990/WebsiteAddressTxt0N/A
IRS990/WhistleblowerPolicyInd0true
ReturnHeader/BuildTS02025-03-06 01:10:19Z
ReturnHeader/BusinessOfficerGrp/DiscussWithPaidPreparerInd0true
ReturnHeader/BusinessOfficerGrp/PersonNm0Stacey Stein
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0TREASURER
ReturnHeader/BusinessOfficerGrp/PhoneNum06513010474
ReturnHeader/BusinessOfficerGrp/SignatureDt02025-04-25
ReturnHeader/Filer/BusinessName/BusinessNameLine1Txt0HEDIN-HARTNAGEL MEMORIAL FUND
ReturnHeader/Filer/BusinessNameControlTxt0HEDI
ReturnHeader/Filer/EIN0416159209
ReturnHeader/Filer/PhoneNum06513010474
ReturnHeader/Filer/USAddress/AddressLine1Txt0PO BOX 222
ReturnHeader/Filer/USAddress/CityNm0RED WING
ReturnHeader/Filer/USAddress/StateAbbreviationCd0MN
ReturnHeader/Filer/USAddress/ZIPCd055066
ReturnHeader/IRSResponsiblePrtyInfoCurrInd0true
ReturnHeader/PreparerFirmGrp/PreparerFirmEIN0421402315
ReturnHeader/PreparerFirmGrp/PreparerFirmName/BusinessNameLine1Txt0Marklevits Ltd
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/AddressLine1Txt0421 W 4th St Suite 1
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/CityNm0Red Wing
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/StateAbbreviationCd0MN
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/ZIPCd055066
ReturnHeader/PreparerPersonGrp/PhoneNum06513881940
ReturnHeader/PreparerPersonGrp/PreparationDt02025-05-09
ReturnHeader/PreparerPersonGrp/PreparerPersonNm0David G Marklevits
ReturnHeader/ReturnTs02025-05-09T08:52:48-07:00
ReturnHeader/ReturnTypeCd0990
ReturnHeader/TaxPeriodBeginDt02024-01-01
ReturnHeader/TaxPeriodEndDt02024-12-31
ReturnHeader/TaxYr02024

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