A separate entity from Hormel Foods Corp., The Hormel Foundation is a non-profit 501(c)(3) organization established in 1941 by Hormel Foods Corporation founder George A. Hormel and his son, Jay C. Hormel. Contributions from The Hormel Foundation directly benefit the Austin, MN area. The Hormel Foundation was reorganized in 1980 as a supporting organization under I.R.C. Section 509(a)(3). As a supporting organization, it is organized and operated for the benefit of those charitable or educational organizations represented on its board.
The Hormel Foundation ranks fourth in annual giving among Minnesota’s largest community/public foundations and public charity grant makers, with those in the lead located in the Twin Cities, according to the Minnesota Council on Foundations. The Hormel Foundation’s contributions are a direct result from the dividend increases of Hormel Foods’ common stock – the Foundation’s main asset.
The Hormel Foundation supports the community through organizations that provide food, shelter and clothing, advance quality healthcare, education and research and enhance the quality of life through projects such as the newly completed Jay C. Hormel Nature Center Interpretive Center and the Austin Community Recreation Center project now underway.
Between 1954 and 1957, the Foundation became trustee for 21 family trusts. Eleven of those family trusts remain extant. Currently trustee for two trusts established in 1934 by George A. Hormel and for nine trusts established by Jay C. Hormel.
In order to continue to hold a significant level of Hormel stock after the Tax Reform Act of 1969, in 1980 the Hormel foundation amended its articles to qualify as a public foundation under Section 509(a)(3) of the IRC. Pursuant to the 1980 Restated Articles of Incorporation, the purpose of the Foundation is to benefit and assist in carrying out the purposes of “qualified” organizations.
Pictured from left to right, the first board of directors: Judge S. D. Catherwood, M.F. Dugan, H.H. Corey, R. P. Crane and Park Dougherty.