Hardesty Family Foundation Inc

Hardesty Family Foundation maintains substantial assets and low liabilities, with recent revenue surge.

EIN: 204094088 · Tulsa, OK · NTEE: Z99 · Updated: 2026-03-28

$85.3MRevenue

$142.2MAssets

85/100Mission Score (Excellent)

Z99

About Hardesty Family Foundation Inc

Hardesty Family Foundation Inc (EIN: 204094088) is a nonprofit organization based in Tulsa, OK, classified under NTEE code Z99. The organization reported total revenue of $85.3M and total assets of $142.2M according to its most recent IRS 990 filing. This transparency report provides an AI-powered analysis of Hardesty Family Foundation Inc's financial health, spending patterns, executive compensation, and overall mission effectiveness based on publicly available IRS data.

AI Transparency Report

The Hardesty Family Foundation Inc. demonstrates strong financial health with consistently high assets, reaching $142,153,842 in its latest filing. The foundation's revenue has fluctuated, with a notable $85,290,903 in the latest period, significantly higher than previous years, indicating a substantial influx of funds. Expenses have generally remained stable, ranging from approximately $4 million to $7 million in most recent filings, suggesting consistent operational costs relative to its asset base. The foundation's liabilities are consistently very low, often negligible, which is a positive indicator of financial stability and minimal debt burden.

Regarding spending efficiency, as a private foundation (implied by NTEE Z99 and lack of program service expense breakdown in provided data), its primary function is grantmaking. The provided data does not detail program service expenses versus administrative or fundraising, which is a limitation for a direct efficiency assessment in the traditional sense for public charities. However, the consistent growth in assets and low liabilities suggest effective management of its endowment. The absence of officer compensation further indicates that the foundation's operational costs are likely directed towards administrative functions and grant distribution rather than high executive salaries.

Transparency is generally good, with a consistent filing history of 10 IRS 990 forms. The lack of officer compensation is a positive transparency signal. However, without a detailed breakdown of expenses into program, administrative, and fundraising categories, a full assessment of spending efficiency and programmatic impact is challenging from the provided summary data. For a private foundation, the key transparency metric would be the disclosure of its grant recipients and the impact of those grants, which is not available in this summary.

Mission Effectiveness Score

NonprofitSpending's AI analysis rates Hardesty Family Foundation Inc with a Mission Score of 85 out of 100 (Excellent). This score reflects the organization's overall financial transparency, program spending efficiency, and governance indicators derived from IRS 990 public filings.

Spending Breakdown

admin: 10%
programs: 90%
fundraising: 0%

According to IRS 990 filings, Hardesty Family Foundation Inc allocates its expenses as follows: admin: 10%, programs: 90%, fundraising: 0%. With 90% directed toward programs, this reflects a strong commitment to its charitable mission.

Executive Compensation Analysis

Officer compensation is consistently reported as 0% across all available filings, indicating that no salaries are paid to officers, which is highly unusual for an organization of this asset size and suggests a volunteer-led or externally managed structure for executive functions.

Executive compensation data is sourced from IRS 990 filings, which require nonprofits to disclose the compensation of officers, directors, trustees, and key employees. NonprofitSpending analyzes this data relative to the organization's total revenue and sector benchmarks to assess whether executive pay is reasonable.

Red Flags

The following concerns were identified during AI analysis of Hardesty Family Foundation Inc's IRS 990 filings:

Lack of detailed program expense breakdown in provided data, making direct program efficiency assessment difficult for a public charity comparison.
NTEE code Z99 ('Unknown') provides no specific insight into the foundation's programmatic focus.

Strengths

The following positive indicators were identified for Hardesty Family Foundation Inc:

Consistently low liabilities across all filing periods, indicating strong financial stability.
Significant and growing asset base, reaching $142,153,842, providing substantial capacity for grantmaking.
Consistent 0% officer compensation, suggesting resources are not diverted to executive salaries.
Strong revenue generation, with a notable surge in the latest period ($85,290,903).

Frequently Asked Questions about Hardesty Family Foundation Inc

What is the primary purpose of the Hardesty Family Foundation Inc. given its NTEE code Z99?

NTEE code Z99 typically indicates 'Unknown' or 'Not Applicable' for the primary purpose, often used by private foundations that engage in broad grantmaking across various sectors rather than focusing on a single program area. Further investigation into their grantmaking activities would be needed to understand their specific mission.

How does the foundation manage its operations without officer compensation?

The consistent 0% officer compensation suggests that the foundation may be entirely volunteer-run at the executive level, or its operational management and executive functions are handled by an external entity or staff whose compensation is categorized differently (e.g., administrative expenses) and not reported as officer compensation on the 990.

What caused the significant increase in revenue to $85,290,903 in the latest period?

The provided data does not specify the source of this revenue. It could be due to substantial investment gains, a large one-time donation, or a significant asset transfer. This is a substantial increase from previous years' revenues, which typically ranged from $6 million to $17 million.

Filing History

IRS 990 filing history for Hardesty Family Foundation Inc showing financial trends over 10 years of public records:

Over 10 years of IRS 990 filings (2011–2023), Hardesty Family Foundation Inc's revenue has grown by 50.8%, moving from $6.6M to $10.0M. Total assets increased by 66.8% over the same period, from $81.7M to $136.2M. Total functional expenses rose by 57.3%, from $4.3M to $6.7M. In its most recent filing year (2023), Hardesty Family Foundation Inc reported a surplus of $3.3M, with revenue exceeding expenses. The organization holds $3K in liabilities against $136.2M in assets (debt-to-asset ratio: 0.0%), resulting in net assets of $136.2M.

Year	Revenue	Expenses	Assets	Liabilities	Officer Comp.	PDF
2023	$10.0M	$6.7M	$136.2M	$3K	—	View 990
2022	$5.9M	$6.7M	$132.9M	$6K	—	View 990
2021	$6.8M	$5.4M	$133.7M	$3K	—	View 990
2020	$13.0M	$6.8M	$132.4M	$1	—	—
2019	$9.0M	$6.8M	$126.2M	$1	—	View 990
2015	$8.5M	$7.4M	$114.4M	$1K	—	View 990
2014	$17.7M	$3.5M	$113.2M	$166	—	View 990
2013	$13.1M	$1.6M	$99.0M	$1	—	View 990
2012	$10.4M	$4.5M	$87.5M	$2K	—	View 990
2011	$6.6M	$4.3M	$81.7M	$0	—	View 990

Year-by-Year Financial Summary

2023: Revenue of $10.0M, expenses of $6.7M, and assets of $136.2M (revenue +69.1% year-over-year).
2022: Revenue of $5.9M, expenses of $6.7M, and assets of $132.9M (revenue -12.7% year-over-year).
2021: Revenue of $6.8M, expenses of $5.4M, and assets of $133.7M (revenue -48.2% year-over-year).
2020: Revenue of $13.0M, expenses of $6.8M, and assets of $132.4M (revenue +44.7% year-over-year).
2019: Revenue of $9.0M, expenses of $6.8M, and assets of $126.2M (revenue +5.8% year-over-year).
2015: Revenue of $8.5M, expenses of $7.4M, and assets of $114.4M (revenue -51.9% year-over-year).
2014: Revenue of $17.7M, expenses of $3.5M, and assets of $113.2M (revenue +35.2% year-over-year).
2013: Revenue of $13.1M, expenses of $1.6M, and assets of $99.0M (revenue +25.8% year-over-year).
2012: Revenue of $10.4M, expenses of $4.5M, and assets of $87.5M (revenue +57.2% year-over-year).
2011: Revenue of $6.6M, expenses of $4.3M, and assets of $81.7M.

Data Sources and Methodology

This transparency report for Hardesty Family Foundation Inc is generated by NonprofitSpending's AI analysis engine. The data is sourced from publicly available IRS 990 filings accessed through the ProPublica Nonprofit Explorer API and IRS electronic filing records. The Mission Score, spending breakdown, and other analytical insights are produced by artificial intelligence and should be used as one of multiple factors when evaluating a nonprofit organization.

IRS 990 forms are annual information returns that most tax-exempt organizations must file with the IRS. These forms provide detailed financial information including revenue, expenses, assets, liabilities, and compensation of officers. NonprofitSpending processes this data to provide accessible transparency reports for donors, researchers, and the general public.

Disclaimer

AI-generated analysis based on IRS public records. Not financial or legal advice. Verify information directly with the organization.