Hastings Mutual Insurance Company Charitable Foundation
- Assets
- $4.2m
- Revenue
- $177.3k
- Investments
- $4.1m
- Employees
- 0
- Location
- Hastings, MI
- Founding
- 05/2006
- Data as of
- 12/2021
- EIN
- 20-2031029
Organization Overview
Hastings Mutual Insurance Company Charitable Foundation is located in Hastings, MI. The organization was established in 2006. According to its NTEE Classification (T21) the organization is classified as: Corporate Foundations, under the broad grouping of Philanthropy, Voluntarism & Grantmaking Foundations and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Hastings Mutual Insurance Company Charitable Foundation is a 501(c)(3) and as such, is described as a "Charitable or Religous organization or a private foundation" by the IRS.
For the year ending 12/2021, Hastings Mutual Insurance Company Charitable Foundation generated $177.3k in total revenue. This represents a relatively dramatic decline in revenue. Over the past 4 years, the organization has seen revenues fall by an average of (11.0%) each year. All expenses for the organization totaled $134.6k during the year ending 12/2021. You can explore the organizations financials more deeply in the financial statements section below.
Since 2020, Hastings Mutual Insurance Company Charitable Foundation has awarded 59 individual grants totaling $279,655. If you would like to learn more about the grant giving history of this organization, scroll down to the grant profile section of this page.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Christopher J Fluke Director | 5 | $0 | |
Kellie M Haines Director | 5 | $0 | |
Mark A Kolanowski Director | 5 | $0 | |
Bruce J Osterink Director | 5 | $0 | |
Joseph J Babiak President | 5 | $0 | |
Michael T Kinnary Treasurer | 5 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $124,159 |
| Interest on Savings | $0 |
| Dividends & Interest | $53,096 |
| Net Rental Income | $0 |
| Net Gain on Sale of Assets | $0 |
| Capital Gain Net Income | $0 |
| Net ST Capital Gain | $0 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $0 |
| Other Income | $0 |
| Total Revenue | $177,255 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $0 |
| Other employee salaries and wages | $0 |
| Pension plans, employee benefits | $0 |
| Interest | $0 |
| Taxes | $6,573 |
| Depreciation | $0 |
| Occupancy | $0 |
| Travel, conferences, and meetings | $0 |
| Printing and publications | $0 |
| Other expenses | $5,453 |
| Total operating and administrative expenses | $12,026 |
| Contributions, gifts, grants paid | $122,605 |
| Total expenses and disbursements | $134,631 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $11,594 |
| Savings and temporary cash investments | $38,301 |
| Net Accounts receivable | $12,310 |
| Net Pledges Receivable | $0 |
| Grants receivable | $0 |
| Receivables from Officers, Directors, or Controlling Persons | $0 |
| Net other notes and loans receivable | $0 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $0 |
| Net Investments - land, buildings, equipment | $0 |
| Investments—mortgage loans | $0 |
| Investments—other | $0 |
| Net Land, buildings, and equipment | $0 |
| Other assets | $444 |
| Total assets | $4,183,474 |
| Accounts payable and accrued expenses | $19,183 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Mortgages and other notes payable | $0 |
| Other liabilities | $0 |
| Total liabilities | $19,183 |
Grants Awarded
Over the last fiscal year, Hastings Mutual Insurance Company Charitable Foundation has awarded $122,605 in support to 35 organizations.
| Grant Recipient | Amount |
|---|---|
Grand Rapids, MI PURPOSE: SILENT PARTNER - DONATIONS FOR STUDENTS PROGRAM AND COUNSELING SERVICES FOR STUDENTS. | $33,147 |
La Crosse, WI PURPOSE: TO HELP PROVIDE PROGRAMMING FOR KIDS IN NEED WHO OTHERWISE MAY NOT RECEIVE SUCH OPPORTUNITIES. | $15,000 |
HARBOR LIGHT COMMUNITY CHAPEL PURPOSE: TO PROVIDE FOOD FOR STUDENTS AND OTHER HUNGRY YOUTH AND FAMILIES IN THE COMMUNITY. | $10,000 |
Springfield, IL PURPOSE: TO OFFER SENIORS THAT HAVE BEEN DIAGNOSED WITH A DEVELOPMENTAL DISABILITY A MUSIC THERAPY PROGRAM. | $6,000 |
ELE'S PLACE PURPOSE: ELE'S RACE 5K SPONSORSHIP | $5,000 |
GIRL SCOUTS OF SOUTHEASTERN MICHIGA PURPOSE: TO PROVIDE LEADERSHIP EXPERIENCES TO GIRLS FROM LOW-INCOME FAMILIES. | $5,000 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Lynde And Harry Bradley Foundation Inc Milwaukee, WI | $1,061,478,184 | $82,867,746 |
Herbert H & Grace A Dow Foundation Midland, MI | $575,608,768 | $36,767,282 |
Dte Energy Foundation Detroit, MI | $165,950,300 | $32,183,321 |
Progressive Insurance Foundation Cleveland, OH | $7,804,354 | $47,823,383 |
Highlands Foundation Inc Madison, WI | $16,807,622 | $1,089,528 |
Rockwell Automation Charitable Corporation Milwaukee, WI | $6,137,007 | $10,007,891 |
Third Federal Foundation Cleveland, OH | $35,709,526 | $3,618,702 |
Gii Charities Grand Rapids, MI | $4,065,002 | $6,112,431 |
Westfield Insurance Foundation Westfield Center, OH | $42,931,784 | $4,362,594 |
Morgan Family Foundation Yellow Springs, OH | $51,827,477 | $1,582,241 |
Harry M And Violet Turner Charitable Trust Springfield, OH | $29,217,065 | $2,348,308 |
Penske Foundation Inc Bloomfield Hills, MI | $17,008,099 | $10,243,924 |