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The Hormel Foundation
The Hormel Foundation reported $40.1 million in revenue and $37.9 million in expenses for the fiscal year ending November 30, 2025. Of every $100 it spent, $97.62 went to program services, $2.38 to management and general costs and $0.00 to fundraising. Its largest source of revenue was investment income: 96.1% of the total. The highest compensation it reported for one person was $954,359 (Director). 10 people received more than $100,000 in reportable compensation. Revenue rose 35% between FY2020 and FY2025. Source: Form 990, FY2025.
Where $100 of spending went
The fiscal year ending November 30, 2025 · Form 990, Part IX, line 25 · total expenses $38MFor context, the median across 1,001 covered philanthropy, voluntarism & grantmaking charities: $91.65 programs, $6.50 management, $1.85 fundraising (medians computed separately, so they may not sum to $100).
Where $100 of revenue came from
The fiscal year ending November 30, 2025 · Form 990, Part VIII · total revenue $40MThe 990 scorecard · same measures for every charity, no grades
| Measure | FY2025 | Median |
|---|---|---|
| Program services Part IX 25(B) ÷ 25(A) | 97.6% | 90.2% |
| Management & general Part IX 25(C) ÷ 25(A) | 2.4% | 6.4% |
| Fundraising Part IX 25(D) ÷ 25(A) | 0.0% | 1.8% |
| Fundraising cost per $1 of contributions Part IX 25(D) ÷ Part VIII 1h | Not reported | $0.02 |
| Contributions & grants share of revenue Part VIII 1h ÷ 12 | 0.0% | 79.9% |
| Government grants share of revenue Part VIII 1e ÷ 12 | 0.0% | 0.0% |
| Program service revenue share Part VIII 2g ÷ 12 | 0.0% | 0.0% |
| Highest reported compensation Part VII-A, columns D–F | $954,359 | $325,675 |
| Highest compensation as share of expenses Part VII-A ÷ Part IX 25(A) | 2.52% | 1.56% |
| People paid over $100,000 Part VII, line 2 | 10 | 3 |
| Net assets, in months of expenses Part X 33(B) ÷ monthly expenses | 271.6 | 56.6 |
| Independent voting board members Part VI 1a–1b | 6 of 19 | 100.0% |
A median is context, not a target: hospitals, universities, food banks and grantmakers spend in very different ways. What these measures can and can't tell you.
What the money paid for, in its own words
FY2025 · Form 990, Part III · the three largest programs by expenseTo provide grant funding and assistance to the supported organizations in the Austin, MN area. The Hormel Institute, a world-renowned cancer research center, is the principal recipient of The Hormel Foundations yearly contributions, as established by a 1942 agreement between the Board of Regents of the University of Minnesota and The Hormel Foundation. Education has become the second largest beneficiary of the Foundation through its contributions to Austin Public Schools as well as Riverland Community College
Highest reported compensation
FY2025 · Form 990, Part VII, Section A · roles as filed; names are in the filing, not here| Role | From this org | From related orgs | Other | Total |
|---|---|---|---|---|
| Director Former | $10,200 | $828,600 | $115,559 | $954,359 |
| Director Director/trustee, 001.00 hrs/week | $10,350 | $366,459 | $58,616 | $435,425 |
| Director Director/trustee, 001.00 hrs/week | $12,775 | $248,274 | $46,740 | $307,789 |
| Director Director/trustee, 001.00 hrs/week | $14,975 | $191,506 | $50,150 | $256,631 |
| Secretary/Treasurer Officer, 040.00 hrs/week | $208,230 | $0 | $6,247 | $214,477 |
| Director Director/trustee, 001.00 hrs/week | $17,500 | $152,029 | $35,677 | $205,206 |
| Director Director/trustee, 001.00 hrs/week | $13,825 | $146,671 | $33,650 | $194,146 |
| Director Director/trustee, 001.00 hrs/week | $19,275 | $115,829 | $5,980 | $141,084 |
10 people received more than $100,000 in reportable compensation from The Hormel Foundation (Part VII, line 2). Compensation of current officers, directors and key employees totaled $559K (Part IX, line 5).
6 years of filings
Form 990, Parts I, VII, IX and X · each row is that year's own filing, linkedGovernance answers, as filed
FY2025 · the organization's own yes/no answers; explanations, if any, are in Schedule O of the filing · what each means- Voting board members, and how many are independent Part VI, lines 1a–1b19 · 6 independent
- Audited financial statements Part XII 2bYes
- Conflict-of-interest policy Part VI 12aYes
- Whistleblower policy Part VI 13Yes
- Document retention policy Part VI 14Yes
- Independent process for top executive pay Part VI 15aYes
- Board given the 990 before filing Part VI 11aYes
- Family or business ties among insiders Part VI 2Yes
- Aware of a significant diversion of assets Part VI 5No
- Excess benefit transaction with an insider Part IV 25aNo
- Loans to or from insiders outstanding Part IV 26No
- Lobbying, or a 501(h) election in effect Part IV 4No
- Over $15,000 of professional fundraising services Part IV 18No
- Over $10,000 of activity outside the U.S. Part IV 14bNo
- Employees Part I, line 53
- Volunteers Part I, line 62
Correct a figure or respond
Every number above is copied from The Hormel Foundation's own Form 990. If one doesn't match the filing, that's our error and we'll fix it. If you work for The Hormel Foundation, you can publish a response that is linked from this page.
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Of every $100 The Hormel Foundation spent in FY2025, $97.62 went to programs. The full breakdown, from its IRS Form 990:
Questions people ask
How much of The Hormel Foundation's spending goes to programs?
In the fiscal year ending November 30, 2025, The Hormel Foundation reported that 97.6% of its $37.9 million in expenses went to program services, 2.4% to management and general and 0.0% to fundraising (Form 990, Part IX).
How much does The Hormel Foundation pay its top executive?
The largest total compensation The Hormel Foundation reported for one person in the fiscal year ending November 30, 2025 was $954,359, for the role of Director (Form 990, Part VII, including compensation from related organizations and other compensation).
Where does The Hormel Foundation get its money?
Of $40.1 million in revenue in the fiscal year ending November 30, 2025, 0.0% came from contributions and grants and 0.0% from program service revenue (Form 990, Part VIII).
Is The Hormel Foundation a registered charity?
The IRS lists EIN 41-0694716 as a 501(c)(3) organization (supporting organization (509(a)(3))), and its records show contributions as tax-deductible. Form 990 filings on record here cover tax years 2019, 2020, 2021, 2022, 2023, 2024. A filing shows what the organization reported; it doesn't by itself show whether a program works.
Sources
- FY2025: Form 990 for the fiscal year ending November 30, 2025, object 202640899349300214 · read the filing · XML
- FY2024: Form 990 for the fiscal year ending November 30, 2024, object 202530769349300608 · read the filing
- FY2023: Form 990 for the fiscal year ending November 30, 2023, object 202400579349300715 · read the filing
- FY2022: Form 990 for the fiscal year ending November 30, 2022, object 202310689349300226 · read the filing
- FY2021: Form 990 for the fiscal year ending November 30, 2021, object 202201019349301115 · read the filing
- FY2020: Form 990 for the fiscal year ending November 30, 2020, object 202111029349300406 · read the filing
All filings for EIN 41-0694716: ProPublica Nonprofit Explorer · IRS Tax Exempt Organization Search. Figures are as the organization reported them; we have not audited them.