Hormel Foods Corporation Chartible Tr

Hormel Foods Charitable Trust consistently grants millions with zero executive compensation.

EIN: 10761416 · Austin, MN · NTEE: T20 · Updated: 2026-03-28

$356KRevenue

$130KAssets

95/100Mission Score (Excellent)

T20

About Hormel Foods Corporation Chartible Tr

Hormel Foods Corporation Chartible Tr (EIN: 10761416) is a nonprofit organization based in Austin, MN, classified under NTEE code T20. The organization reported total revenue of $356K and total assets of $130K according to its most recent IRS 990 filing. This transparency report provides an AI-powered analysis of Hormel Foods Corporation Chartible Tr's financial health, spending patterns, executive compensation, and overall mission effectiveness based on publicly available IRS data.

AI Transparency Report

The Hormel Foods Corporation Charitable Trust demonstrates a consistent commitment to its charitable purpose, primarily through grantmaking. Over the past several years, the Trust has maintained significant revenue streams, often exceeding $1.5 million annually, with a notable peak of $3,835,175 in 2022. While expenses have sometimes exceeded revenue, such as in 2023 where expenses were $2,411,235 against $2,086,426 in revenue, this is not uncommon for grantmaking foundations that may draw from accumulated assets. The Trust consistently reports zero officer compensation, indicating efficient use of funds directly for its mission rather than administrative overhead related to executive salaries.

The organization's financial health appears stable, with assets fluctuating but generally remaining robust, reaching $1,586,449 in 2022 and $1,276,640 in 2023. The low or non-existent liabilities across most filing periods further underscore a healthy balance sheet. The NTEE code T20 suggests a focus on grantmaking, which aligns with the financial data showing substantial expenses likely directed towards program grants. The absence of officer compensation is a strong indicator of transparency and efficiency in its operational model.

Mission Effectiveness Score

NonprofitSpending's AI analysis rates Hormel Foods Corporation Chartible Tr with a Mission Score of 95 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: 0%
programs: 100%
fundraising: 0%

According to IRS 990 filings, Hormel Foods Corporation Chartible Tr allocates its expenses as follows: admin: 0%, programs: 100%, fundraising: 0%. With 100% directed toward programs, this reflects a strong commitment to its charitable mission.

Executive Compensation Analysis

Executive compensation is consistently reported as 0% across all available filings, indicating that no salaries are paid to officers, which is highly efficient for an organization of this size and type.

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.

Strengths

The following positive indicators were identified for Hormel Foods Corporation Chartible Tr:

100% program spending ratio, indicating high efficiency.
Consistent reporting of zero officer compensation, enhancing transparency and trust.
Significant and consistent grantmaking activity, demonstrating strong mission fulfillment.
Healthy asset base, providing financial stability for future operations.
Low or non-existent liabilities across most filing periods.

Frequently Asked Questions about Hormel Foods Corporation Chartible Tr

Is Hormel Foods Corporation Charitable Trust a good charity?

Based on the provided IRS 990 data, the Hormel Foods Corporation Charitable Trust appears to be a highly effective and efficient charity. It consistently directs 100% of its expenses towards its programs (grantmaking) and reports zero executive compensation, indicating that funds are directly used for its mission.

How does the Trust manage its expenses relative to its revenue?

The Trust's expenses have generally been well-managed relative to its revenue. While there are periods where expenses slightly exceed revenue (e.g., $2,411,235 in expenses vs. $2,086,426 in revenue in 2023), this is typical for grantmaking organizations that may draw from accumulated assets to fulfill their charitable commitments. Overall, the Trust maintains a healthy asset base.

What is the primary financial strength of this organization?

The primary financial strength of this organization is its exceptional spending efficiency, evidenced by 100% of expenses allocated to programs and zero officer compensation. This ensures that virtually all funds are directly applied to its charitable mission.

Filing History

IRS 990 filing history for Hormel Foods Corporation Chartible Tr showing financial trends over 10 years of public records:

Over 10 years of IRS 990 filings (2011–2023), Hormel Foods Corporation Chartible Tr's revenue has grown by 39.1%, moving from $1.5M to $2.1M. Total assets decreased by 18% over the same period, from $1.6M to $1.3M. Total functional expenses rose by 118.4%, from $1.1M to $2.4M. In its most recent filing year (2023), Hormel Foods Corporation Chartible Tr reported a deficit of $325K, with expenses exceeding revenue. The organization holds $1 in liabilities against $1.3M in assets (debt-to-asset ratio: 0.0%), resulting in net assets of $1.3M.

Year	Revenue	Expenses	Assets	Liabilities	Officer Comp.	PDF
2023	$2.1M	$2.4M	$1.3M	$1	—	View 990
2022	$3.8M	$2.3M	$1.6M	$1	—	View 990
2021	$1.8M	$1.9M	$573K	$513K	—	View 990
2020	$1.5M	$1.8M	$180K	$1	—	View 990
2019	$1.5M	$1.4M	$518K	$0	—	View 990
2015	$1.5M	$1.7M	$482K	$0	—	View 990
2014	$1.0M	$1.6M	$665K	$0	—	View 990
2013	$1.0M	$1.4M	$1.2M	$0	—	View 990
2012	$1.5M	$1.5M	$1.6M	$0	—	View 990
2011	$1.5M	$1.1M	$1.6M	$0	—	View 990

Year-by-Year Financial Summary

2023: Revenue of $2.1M, expenses of $2.4M, and assets of $1.3M (revenue -45.6% year-over-year).
2022: Revenue of $3.8M, expenses of $2.3M, and assets of $1.6M (revenue +119.2% year-over-year).
2021: Revenue of $1.8M, expenses of $1.9M, and assets of $573K (revenue +16.7% year-over-year).
2020: Revenue of $1.5M, expenses of $1.8M, and assets of $180K (revenue +0.0% year-over-year).
2019: Revenue of $1.5M, expenses of $1.4M, and assets of $518K (revenue +0.0% year-over-year).
2015: Revenue of $1.5M, expenses of $1.7M, and assets of $482K (revenue +50.0% year-over-year).
2014: Revenue of $1.0M, expenses of $1.6M, and assets of $665K (revenue +0.0% year-over-year).
2013: Revenue of $1.0M, expenses of $1.4M, and assets of $1.2M (revenue -33.3% year-over-year).
2012: Revenue of $1.5M, expenses of $1.5M, and assets of $1.6M (revenue +0.0% year-over-year).
2011: Revenue of $1.5M, expenses of $1.1M, and assets of $1.6M.

Data Sources and Methodology

This transparency report for Hormel Foods Corporation Chartible Tr 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.