The Hendricks Family Foundation Inc is a private independent nonprofit organization based in Beloit, Wisconsin. Established in 2004, it is recognized under section 501(c)(3) of the Internal Revenue Code, classifying it as a charitable foundation focused on philanthropy, voluntarism, and grantmaking[3][4].

Mission and Vision

The foundation's mission is to invest in local solutions that shape, strengthen, and sustain a thriving community in Beloit. It aims to inspire possibility and challenge children in its community to dream big by cultivating opportunities that improve academic outcomes and extend learning beyond the classroom, thereby seeding innovation[1][4].

Activities and Impact

The Hendricks Family Foundation concentrates its efforts on supporting nonprofit organizations that work toward enhancing the social and educational fabric of Beloit. Its programming addresses critical community challenges such as housing and education, emphasizing broadening choices for families and children and improving quality of life indicators in the region[1][2].

Governance

As of early 2024, the organization's board of directors includes members of the Hendricks family and other appointed individuals, with Diane M. Hendricks noted as a key leader. The governance structure supports the foundation's philanthropic aims through strategic oversight and community engagement[4].

Financial Overview

The foundation's financial reports highlight robust revenue streams primarily from contributions, investments, and asset sales. For example, recent data shows $4 million in contributions received, complemented by dividend income and sales of assets, accumulating to a total asset base exceeding $33 million. Charitable disbursements represent a significant portion of its expenditures, reflecting its commitment to funding community programs and initiatives without allocating funds for officer compensation directly[3].

Tax and Legal Status

Recognized as a tax-exempt entity, donations to the Hendricks Family Foundation are tax-deductible. The foundation's activities fall within the exempt purposes including religious, educational, charitable, scientific, and literary endeavors, as well as public safety and prevention of cruelty to children or animals[3].

This foundation plays a vital role in fostering community development through targeted philanthropy and sustained local partnerships in Beloit, Wisconsin.

[1] https://hendricksfamilyfoundation.org/hendricks-family-foundation/ [2] https://hendricksfamilyfoundation.org/how-we-work/ [3] https://projects.propublica.org/nonprofits/organizations/200874851 [4] https://www.guidestar.org/profile/20-0874851 [5] https://projects.propublica.org/nonprofits/organizations/475513738