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← HASTINGS PUBLIC SCHOOLS FOUNDATION

Form 990 for tax year 2022

Filed by HASTINGS PUBLIC SCHOOLS FOUNDATION.

Totals

Total revenue
$62,244
Total expenses
$20,178
Contributions and grants received
$26,941
Grants paid
$12,950
Program service revenue
$0
Investment income
$35,303
Other revenue
$0
Total assets, end of year
$2,088,268
Total liabilities, end of year
$0
Net assets or fund balances, end of year
$2,088,268
Program services expenses (Part IX)
$12,950
Management and general expenses
$3,632
Fundraising expenses
$3,596
Program service expenses (Part III)
$12,950

Program services were 64.2% of total expenses calculated — Part IX's program-services column over total expenses, both as filed.

Line items

Every line the filer filed in Parts VIII, IX and X, as filed and in filed order. Blank columns are left out, and the lines are not forced to add up to the totals above.

Revenue

Part VIII, the statement of revenue.

  • 1f · All other contributions, gifts and grants

    $26,941

  • 3 · Investment income

    total $35,303 · excluded $35,303

Functional expenses

Part IX, the statement of functional expenses.

  • 2 · Grants to domestic individuals

    total $12,950 · program services $12,950

  • 11c · Fees: accounting

    total $1,800 · management and general $1,800

  • 12 · Advertising and promotion

    total $2,277 · fundraising $2,277

  • 13 · Office expenses

    total $1,291 · fundraising $1,291

  • 23 · Insurance

    total $1,500 · management and general $1,500

  • 24a · Other expenses: DUES AND SUBSCRIPTIONS

    total $275 · management and general $275

  • 24b · Other expenses: MISCELLANEOUS EXPENSE

    total $32 · management and general $32

  • 24c · Other expenses: CREDIT CARD COLLECTION FE

    total $28 · fundraising $28

  • 24d · Other expenses: FILING FEES

    total $25 · management and general $25

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $373 · end of year $373

  • 2 · Savings and temporary cash investments

    beginning of year $221,984 · end of year $236,069

  • 11 · Investments: publicly traded securities

    beginning of year $2,124,141 · end of year $1,851,826

  • 27 · Net assets without donor restrictions

    beginning of year $1,155,650 · end of year $930,186

  • 28 · Net assets with donor restrictions

    beginning of year $1,190,848 · end of year $1,158,082

Mission and programs · 2022

Mission

THE PURPOSE OF THE HASTINGS PUBLIC SCHOOLS FOUNDATION IS TO ENRICH EDUCATIONAL EXPERIENCES WITHIN THE HASTINGS, MINNESOTA PUBLIC SCHOOLS.

  • THE ORGANIZATION'S MAIN FOCUS HAS BEEN TO BUILD AN INITIAL 1 MILLION PERMANENT ENDOWMENT FUND. AS OF DECEMBER 31, 2004, THE FUND BALANCE SURPASSED THE INITIAL 1 MILLION GOAL. THE FUND WILL BE INVESTED SO AS TO PRESERVE ITS CAPITAL AND GENERATE STEADY INCOME AND LONG-TERM GROWTH. BEGINNING IN 2005 A PORTION OF THE INCOME IS BEING DISBURSED TO DISTRICT 200 EDUCATORS FOR PROGRAMS THAT PROMOTE AND ENHANCE EDUCATIONAL OPPORTUNITIES IN THE HASTINGS, MINNESOTA, PUBLIC SCHOOLS. SPECIFIC PROGRAM EXPENSES FOR 2022 INCLUDED SCHOLARSHIPS OF 12,950.

    Expenses $12,950 · Grants $12,950

As filed on the 2022 return. The filer continues this part on Schedule O, which is not shown here.

Listed in Part VII

  • Leon Endres

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    0.38

  • Dr Chris Johnston

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    0.1

  • Jean Langlais

    TREASURER/SE

    Total calculated
    $0
    Hours/week
    3

  • Rita Molitor

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    0.38

  • Jake Moore

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    0.1

  • Leslie Nielsen

    VICE PRESIDE

    Total calculated
    $0
    Hours/week
    3

  • Jim Reissner

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    0.38

  • Joyce Sieben

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    0.38

  • Jennifer Suebert

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    0.38

  • Richard Welshons

    PRESIDENT

    Total calculated
    $0
    Hours/week
    0.62

Compensation is as filed in Part VII: reportable pay from this organization and from related organizations, other compensation, and hours per week. The total, marked calculated, is our sum of the three dollar columns, with a blank column counted as $0; the form itself has no total. On a Form 990-EZ the columns are Part IV's instead, and on a Form 990-PF Part VIII's — compensation, contributions to benefit plans, and expense account — and the total sums those.

Grants on this return

No itemized grants to organizations on this return.

Provenance

Return type
form_990
Tax year
2022
Filed
2 October 2023
IRS schema version
2022v5.0
Source object
202312759349301206

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