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Hedco Foundation

Organization summary

Type of Nonprofit

Designated as a Organizations for any of the following purposes: religious, educational, charitable, scientific, literary, testing for public safety, fostering national or international amateur sports competition (as long as it doesn't provide athletic facilities or equipment), or the prevention of cruelty to children or animals.

Donations to this organization are tax deductible.

Summary charts: organization finances over time

Revenue
$643k (2023)

Expenses
$1.88M (2023)

Total Assets
$9.28M (2023)

Total Liabilities
$2.04M (2023)

Source: Form 990 tax filings from 2011 to 2023

Tax Filings by Year

Form 990 is an information return that most organizations claiming federal tax-exempt status must file yearly with the IRS. Nonprofit Explorer has IRS digitized Form 990 data for filings processed in 2012 and later. If this organization filed an amended return, it may not be reflected below. Duplicate download links may indicate a resubmission or amendment to this organization's original return. Form 990 data is from the IRS.

Fiscal Year Ending Dec.
2023

Extracted Financial Data

Extracted Financial Data from Form 990-PF
Revenue
$643,189
Expenses
$1,879,774
Net Income
-$1,236,585
Net Assets
$7,231,515
Notable Sources of Revenue Percent of Total Revenue
Contributions Received $0
Interest Revenue $0
Dividends $257,801
40.1%
Sales of Assets $385,372
59.9%
Other Income $16
0.0%
Notable Expenses Percent of Total Expenses
Charitable Disbursements $1,499,516
79.8%
Compensation of Officers* $60,753
3.2%
* Officer compensation may be included in charitable disbursements, so Percent of Total Expenses may add up to greater than 100%.
Assets/Debt
Total Assets $9,276,021
Total Liabilities $2,044,506
Net Assets $7,231,515
Compensation
Key Employees and Officers Compensation Other
Derek Jernstedt (Executive Director & Director) $60,753 $0
David Dornsife (Chief Financial Officer & Director) $0 $0
Dorothy Jernstedt (President & Director) $0 $0
Rena Brantley (Secretary & Director) $0 $0
Allen Dobbins (Director) $0 $0
Tom Herman (Director) $0 $0
Roger Schwab (Director) $0 $0
Robert Lowitz Md (Director) $0 $0

Document Links

Fiscal Year Ending Dec.
2022

Extracted Financial Data

Extracted Financial Data from Form 990-PF
Revenue
$790,905
Expenses
$1,814,005
Net Income
-$1,023,100
Net Assets
$8,133,534
Notable Sources of Revenue Percent of Total Revenue
Contributions Received $0
Interest Revenue $0
Dividends $264,308
33.4%
Sales of Assets $526,574
66.6%
Other Income $23
0.0%
Notable Expenses Percent of Total Expenses
Charitable Disbursements $2,220,633
> 100%
Compensation of Officers* $60,549
3.3%
* Officer compensation may be included in charitable disbursements, so Percent of Total Expenses may add up to greater than 100%.
Assets/Debt
Total Assets $9,873,544
Total Liabilities $1,740,010
Net Assets $8,133,534
Compensation
Key Employees and Officers Compensation Other
Derek Jernstedt (Executive Director & Director) $60,549 $0
Myla Lara (Foundation Manager) $14,963 $0
Jaci Jernstedt (Assistant Foundation Manager) $12,866 $0
Dorothy Jernstedt (President & Director) $0 $0
David Dornsife (Chief Financial Officer & Director) $0 $0
Rena Brantley (Secretary & Director) $0 $0
James Appleton (Director) $0 $0
Allen Dobbins (Director) $0 $0
Tom Herman (Director) $0 $0
Roger Schwab (Director) $0 $0
Robert Lowitz Md (Director) $0 $0

Document Links

Fiscal Year Ending Dec.
2021

Extracted Financial Data

Extracted Financial Data from Form 990-PF
Revenue
$1,248,386
Expenses
$1,622,633
Net Income
-$374,247
Net Assets
$10,968,654
Notable Sources of Revenue Percent of Total Revenue
Contributions Received $0
Interest Revenue $0
Dividends $303,607
24.3%
Sales of Assets $944,779
75.7%
Other Income $0
Notable Expenses Percent of Total Expenses
Charitable Disbursements $1,849,239
> 100%
Compensation of Officers* $60,523
3.7%
* Officer compensation may be included in charitable disbursements, so Percent of Total Expenses may add up to greater than 100%.
Assets/Debt
Total Assets $13,102,072
Total Liabilities $2,133,418
Net Assets $10,968,654
Compensation
Key Employees and Officers Compensation Other
Derek Jernstedt (Executive Director & Director) $60,523 $0
Myla Lara (Foundation Manager) $15,174 $0
Jaci Jernstedt (Assistant Foundation Manager) $12,551 $0
Dorothy Jernstedt (President & Director) $0 $0
David Dornsife (Chief Financial Officer & Director) $0 $0
Rena Brantley (Secretary & Director) $0 $0
James Appleton (Director) $0 $0
Allen Dobbins (Director) $0 $0
Tom Herman (Director) $0 $0
Roger Schwab (Director) $0 $0
Robert Lowitz Md (Director) $0 $0

Document Links

Fiscal Year Ending Dec.
2020

Extracted Financial Data

Extracted Financial Data from Form 990-PF
Revenue
$1,123,148
Expenses
$2,708,643
Net Income
-$1,585,495
Net Assets
$10,743,552
Notable Sources of Revenue Percent of Total Revenue
Contributions Received $0
Interest Revenue $1,086
0.1%
Dividends $343,501
30.6%
Sales of Assets $778,561
69.3%
Other Income $0
Notable Expenses Percent of Total Expenses
Charitable Disbursements $2,212,751
81.7%
Compensation of Officers* $60,489
2.2%
* Officer compensation may be included in charitable disbursements, so Percent of Total Expenses may add up to greater than 100%.
Assets/Debt
Total Assets $13,326,173
Total Liabilities $2,582,621
Net Assets $10,743,552
Compensation
Key Employees and Officers Compensation Other
Derek Jernstedt (Executive Director) $60,489 $0
Myla Lara (Foundation Manager) $12,904 $0
Jaci Jernstedt (Assistant Foundation Manager) $12,177 $0
Dorothy Jernstedt (President & Director) $0 $0
David Dornsife (Cfo & Director) $0 $0
Rena Brantley (Secretary & Director) $0 $0
James Appleton (Director) $0 $0
Allen Dobbins (Director) $0 $0
Tom Herman (Director) $0 $0
Robert Lowitz Md (Director) $0 $0
Roger Schwab (Director) $0 $0

Document Links

Fiscal Year Ending Dec.
2019

Extracted Financial Data

Extracted Financial Data from Form 990-PF
Revenue
$939,598
Expenses
$2,075,700
Net Income
-$1,136,102
Net Assets
$12,586,881
Notable Sources of Revenue Percent of Total Revenue
Contributions Received $0
Interest Revenue $3,927
0.4%
Dividends $385,946
41.1%
Sales of Assets $549,725
58.5%
Other Income $0
Notable Expenses Percent of Total Expenses
Charitable Disbursements $1,640,132
79.0%
Compensation of Officers* $60,410
2.9%
* Officer compensation may be included in charitable disbursements, so Percent of Total Expenses may add up to greater than 100%.
Assets/Debt
Total Assets $14,642,094
Total Liabilities $2,055,213
Net Assets $12,586,881
Compensation
Key Employees and Officers Compensation Other
Derek Jernstedt (Executive Director) $60,410 $0
Myla Lara (Foundation Manager) $11,892 $0
Jaci Jernstedt (Assistant Foundation Manager) $10,209 $0
Dorothy Jernstedt (President & Director) $0 $0
David Dornsife (Cfo & Director) $0 $0
Rena Brantley (Secretary & Director) $0 $0
James Appleton (Director) $0 $0
Allen Dobbins (Director) $0 $0
Tom Herman (Director) $0 $0
Robert Lowitz Md (Director) $0 $0
Roger Schwab (Director) $0 $0

Document Links

Fiscal Year Ending Dec.
2018

Extracted Financial Data

Extracted Financial Data from Form 990-PF
Revenue
$1,399,537
Expenses
$1,889,230
Net Income
-$489,693
Net Assets
$12,424,209
Notable Sources of Revenue Percent of Total Revenue
Contributions Received $0
Interest Revenue $1,129
0.1%
Dividends $395,530
28.3%
Sales of Assets $1,002,878
71.7%
Other Income $0
Notable Expenses Percent of Total Expenses
Charitable Disbursements $1,927,246
> 100%
Compensation of Officers* $60,356
3.2%
* Officer compensation may be included in charitable disbursements, so Percent of Total Expenses may add up to greater than 100%.
Assets/Debt
Total Assets $14,120,407
Total Liabilities $1,696,198
Net Assets $12,424,209
Compensation
Key Employees and Officers Compensation Other
Derek Jernstedt (Executive Director) $60,356 $0
Myla Lara (Foundation Manager) $13,026 $0
Jaci Jernstedt (Assistant Foundation Manager) $8,305 $0
Dorothy Jernstedt (President & Director) $0 $0
Rena Brantley (Secretary & Director) $0 $0
David Dornsife (Cfo & Director) $0 $0
Allen Dobbins (Director) $0 $0
James Appleton (Director) $0 $0
Robert Lowitz Md (Director) $0 $0
Roger Schwab (Director) $0 $0
Tom Herman (Director) $0 $0

Document Links

Fiscal Year Ending Dec.
2017

Extracted Financial Data

Extracted Financial Data from Form 990-PF
Revenue
$1,614,717
Expenses
$1,810,294
Net Income
-$195,577
Net Assets
$14,913,533
Notable Sources of Revenue Percent of Total Revenue
Contributions Received $100,000
6.2%
Interest Revenue $0
Dividends $409,204
25.3%
Sales of Assets $864,243
53.5%
Other Income $241,270
14.9%
Notable Expenses Percent of Total Expenses
Charitable Disbursements $2,427,796
> 100%
Compensation of Officers* $60,291
3.3%
* Officer compensation may be included in charitable disbursements, so Percent of Total Expenses may add up to greater than 100%.
Assets/Debt
Total Assets $16,743,331
Total Liabilities $1,829,798
Net Assets $14,913,533
Compensation
Key Employees and Officers Compensation Other
Derek Jernstedt (Executive Director) $60,292 $0
Myla Lara (Foundation Manager) $13,473 $0
Jaci Jernstedt (Assistant Foundation Manager) $6,958 $0
Dorothy Jernstedt (President & Director) $0 $0
Rena Brantley (Secretary & Director) $0 $0
David Dornsife (Chief Financial Officer & Director) $0 $0
Allen Dobbins (Director) $0 $0
James Appleton (Director) $0 $0
Robert Lowitz Md (Director) $0 $0
Roger Schwab (Director) $0 $0
Tom Herman (Director) $0 $0

Document Links

Fiscal Year Ending Dec.
2016

Extracted Financial Data

Extracted Financial Data from Form 990-PF
Revenue
$916,600
Expenses
$2,087,285
Net Income
-$1,170,685
Net Assets
$14,459,599
Notable Sources of Revenue Percent of Total Revenue
Contributions Received $100,000
10.9%
Interest Revenue $0
Dividends $415,993
45.4%
Sales of Assets $243,183
26.5%
Other Income $157,424
17.2%
Notable Expenses Percent of Total Expenses
Charitable Disbursements $1,533,103
73.4%
Compensation of Officers* $76,370
3.7%
* Officer compensation may be included in charitable disbursements, so Percent of Total Expenses may add up to greater than 100%.
Assets/Debt
Total Assets $17,115,027
Total Liabilities $2,655,428
Net Assets $14,459,599
Compensation
Key Employees and Officers Compensation Other
Derek Jernstedt (Executive Director) $60,750 $0
Mary Goriup (Foundation Manager) $12,177 $0
Jarci Jernstedt (Director) $3,443 $0
Allen Dobbins (Director) $0 $0
David Dornsife (Director) $0 $0
Dorothy Jernstedt (Director) $0 $0
James Appleton (Director) $0 $0
Rena Brantley (Director) $0 $0
Robert Lowitz Md (Director) $0 $0
Roger Schwab (Director) $0 $0
Tom Herman (Director) $0 $0

Document Links

Fiscal Year Ending Dec.
2015

Extracted Financial Data

Extracted Financial Data from Form 990-PF
Revenue
$1,240,927
Expenses
$2,022,918
Net Income
-$781,991
Net Assets
$14,892,861
Notable Sources of Revenue Percent of Total Revenue
Contributions Received $100,000
8.1%
Interest Revenue $4
0.0%
Dividends $409,941
33.0%
Sales of Assets $531,073
42.8%
Other Income $199,909
16.1%
Notable Expenses Percent of Total Expenses
Charitable Disbursements $1,825,214
90.2%
Compensation of Officers* $93,749
4.6%
* Officer compensation may be included in charitable disbursements, so Percent of Total Expenses may add up to greater than 100%.
Assets/Debt
Total Assets $16,946,144
Total Liabilities $2,053,283
Net Assets $14,892,861
Compensation
Key Employees and Officers Compensation Other
Derek Jernstedt (Executive Director) $60,209 $0
Mary Goriup (Foundation Manager) $27,536 $0
Dorothy Jernstedt (Director) $0 $0
David Dornsife (Director) $0 $0
Rena Brantley (Director) $0 $0
Allen Dobbins (Director) $0 $0
James Appleton (Director) $0 $0
Robert Lowitz Md (Director) $0 $0
Roger Schwab (Director) $0 $0
Tom Herman (Director) $0 $0

Document Links

Fiscal Year Ending Dec.
2014

Extracted Financial Data

Extracted Financial Data from Form 990-PF
Revenue
$1,620,946
Expenses
$2,023,333
Net Income
-$402,387
Net Assets
$17,024,635
Notable Sources of Revenue Percent of Total Revenue
Contributions Received $100,000
6.2%
Interest Revenue $47
0.0%
Dividends $496,087
30.6%
Sales of Assets $1,022,088
63.1%
Other Income $2,724
0.2%
Notable Expenses Percent of Total Expenses
Charitable Disbursements $2,569,685
> 100%
Compensation of Officers* $93,771
4.6%
* Officer compensation may be included in charitable disbursements, so Percent of Total Expenses may add up to greater than 100%.
Assets/Debt
Total Assets $18,958,503
Total Liabilities $1,933,868
Net Assets $17,024,635
Compensation
Key Employees and Officers Compensation Other
Derek Jernstedt (Director) $60,291 $0
Mary Goriup (Foundation Manager) $24,992 $0
Jaci Jernstedt (Director) $8,488 $0
Dorothy Jernstedt (Director) $0 $0
David Dornsife (Director) $0 $0
Rena Brantley (Director) $0 $0
Allen Dobbins (Director) $0 $0
James Appleton (Director) $0 $0
Robert Lowitz Md (Director) $0 $0
Roger Schwab (Director) $0 $0
Tom Herman (Director) $0 $0

Document Links

Fiscal Year Ending Dec.
2013

Extracted Financial Data

Extracted Financial Data from Form 990-PF
Revenue
$1,100,041
Expenses
$1,325,367
Net Income
-$225,326
Net Assets
$17,579,249
Notable Sources of Revenue Percent of Total Revenue
Contributions Received $100,000
9.1%
Interest Revenue $135
0.0%
Dividends $459,629
41.8%
Sales of Assets $453,268
41.2%
Other Income $87,009
7.9%
Notable Expenses Percent of Total Expenses
Charitable Disbursements $2,040,055
> 100%
Compensation of Officers* $78,251
5.9%
* Officer compensation may be included in charitable disbursements, so Percent of Total Expenses may add up to greater than 100%.
Assets/Debt
Total Assets $20,126,569
Total Liabilities $2,547,320
Net Assets $17,579,249
Compensation
Key Employees and Officers Compensation Other
Derek Jernstedt (Director) $46,214 $0
Mary Goriup (Foundation Manager) $32,037 $0
Dorothy Jernstedt (Director) $0 $0
David Dornsife (Director) $0 $0
Rena Brantley (Director) $0 $0
Allen Dobbins (Director) $0 $0
James Appleton (Director) $0 $0
Robert Lowitz Md (Director) $0 $0
Roger Schwab (Director) $0 $0
Tom Herman (Director) $0 $0

Document Links

Fiscal Year Ending Dec.
2012

Extracted Financial Data

Extracted Financial Data from Form 990-PF
Revenue
$890,278
Expenses
$2,958,493
Net Income
-$2,068,215
Net Assets
$15,333,582
Notable Sources of Revenue Percent of Total Revenue
Contributions Received $100,000
11.2%
Interest Revenue $74
0.0%
Dividends $523,915
58.8%
Sales of Assets $266,164
29.9%
Other Income $125
0.0%
Notable Expenses Percent of Total Expenses
Charitable Disbursements $2,397,923
81.1%
Compensation of Officers* $77,868
2.6%
* Officer compensation may be included in charitable disbursements, so Percent of Total Expenses may add up to greater than 100%.
Assets/Debt
Total Assets $18,699,375
Total Liabilities $3,365,793
Net Assets $15,333,582

Document Links

Fiscal Year Ending Dec.
2011

Extracted Financial Data

Extracted Financial Data from Form 990-PF
Revenue
$785,386
Expenses
$3,244,708
Net Income
-$2,459,322
Net Assets
$15,745,344
Notable Sources of Revenue Percent of Total Revenue
Contributions Received $100,000
12.7%
Interest Revenue $102
0.0%
Dividends $580,752
73.9%
Sales of Assets $104,532
13.3%
Other Income $0
Notable Expenses Percent of Total Expenses
Charitable Disbursements $5,354,601
> 100%
Compensation of Officers* $78,180
2.4%
* Officer compensation may be included in charitable disbursements, so Percent of Total Expenses may add up to greater than 100%.
Assets/Debt
Total Assets $18,636,198
Total Liabilities $2,890,854
Net Assets $15,745,344

Document Links

Fiscal Year Ending Dec.
2010

No Extracted Financial Data

Extracted financial data is not available for the forms filed in this tax period, but Form 990 documents are available for download.

Document Links

Fiscal Year Ending Dec.
2009

No Extracted Financial Data

Extracted financial data is not available for the forms filed in this tax period, but Form 990 documents are available for download.

Document Links

Fiscal Year Ending Dec.
2008

No Extracted Financial Data

Extracted financial data is not available for the forms filed in this tax period, but Form 990 documents are available for download.

Document Links

Fiscal Year Ending Dec.
2007

No Extracted Financial Data

Extracted financial data is not available for the forms filed in this tax period, but Form 990 documents are available for download.

Document Links

Fiscal Year Ending Dec.
2006

No Extracted Financial Data

Extracted financial data is not available for the forms filed in this tax period, but Form 990 documents are available for download.

Document Links

Fiscal Year Ending Dec.
2005

No Extracted Financial Data

Extracted financial data is not available for the forms filed in this tax period, but Form 990 documents are available for download.

Document Links

Fiscal Year Ending Dec.
2004

No Extracted Financial Data

Extracted financial data is not available for the forms filed in this tax period, but Form 990 documents are available for download.

Document Links

Fiscal Year Ending Dec.
2003

No Extracted Financial Data

Extracted financial data is not available for the forms filed in this tax period, but Form 990 documents are available for download.

Document Links

Fiscal Year Ending Dec.
2002

No Extracted Financial Data

Extracted financial data is not available for the forms filed in this tax period, but Form 990 documents are available for download.

Document Links

Fiscal Year Ending Dec.
2001

No Extracted Financial Data

Extracted financial data is not available for the forms filed in this tax period, but Form 990 documents are available for download.

Document Links

About This Data

What Is This Data?

Nonprofit Explorer includes summary data for nonprofit tax returns and full Form 990 documents, in both PDF and digital formats.

The summary data contains information processed by the IRS during the 2012-2019 calendar years; this generally consists of filings for the 2011-2018 fiscal years, but may include older records. This data release includes only a subset of what can be found in the full Form 990s.

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Types of Nonprofits

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