Hoffman Institute Supportingfoundation
- Assets
- $24.6m
- Revenue
- $6.9m
- Investments
- $0.0
- Employees
- 0
- Location
- San Rafael, CA
- Founding
- 08/2006
- Data as of
- 12/2021
- EIN
- 20-4801174
Organization Overview
Hoffman Institute Supportingfoundation is located in San Rafael, CA. The organization was established in 2006. According to its NTEE Classification (H11) the organization is classified as: Single Organization Support, under the broad grouping of Medical Research and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Hoffman Institute Supportingfoundation is a 501(c)(3) and as such, is described as a "Charitable or Religous organization or a private foundation" by the IRS.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2021
Describe the Organization's Mission:
Part 3 - Line 1
THE SPECIFIC AND PRIMARY PURPOSE OF THE CORPORATION IS TO ENGAGE IN CHARITABLE AND EDUCATIONAL ACTIVITIES THAT BENEFITS, PERFORMS THE FUNCTIONS OF, OR CARRIES OUT THE PURPOSES OF THE HOFFMAN INSTITUTE FOUNDATION.
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE KEY ACTIVITY IN 2021 WAS THE ACQUISITION OF THE HOFFMAN REFREAT CENTER (HRC) SITE ON DECEMBER 1, 2021, FOR WHICH A MAJOR FUNDRAISING INITIATIVE AND THREE SIGNIFICANT DONATIONS OF $6.9MM RECEIVED TO HIF AND HISF AS WELL AS A $10MM BUSINESS LOAN FROM CITY NATIONAL BANK EMPOWERED THE $16MM PURCHASE. LEGAL EXPENSES FOR PURCHASE AGREEMENTS AND SUCCESSFUL LOAN AND CLOSE OF ESCROW WERE INCURRED. THE SECOND MAJOR INITIATIVE WAS THE PREPARATION OF THE WSS PROPERTY FOR LISTING AND EVENTUAL SALE IN 2022 INCLUDING LEGAL, ARCHITECTURAL, AND ADDITIONAL POST FIRE CLEANUP OF SITE DEBRIS AND RESTORING POWER AND UTILITIES TO THE REMAINING STRUCTURES.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Charles J Ingrasci President | OfficerTrustee | 1 | $0 |
Jake Tarr Vp/treasurer | OfficerTrustee | 0.25 | $0 |
Sharon Roe Secretary | OfficerTrustee | 0.25 | $0 |
Rich Cerick Director | Trustee | 1 | $0 |
Cort Schwanebeck Director | Trustee | 0.25 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $3,020,000 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $3,900,000 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $6,920,000 |
| Total Program Service Revenue | $1,250 |
| Investment income | $0 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $6,921,250 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $0 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $0 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $0 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $110,081 |
| Fees for services: Accounting | $8,000 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $72,236 |
| Advertising and promotion | $0 |
| Office expenses | $150 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $1,576 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $97,285 |
| Insurance | $11,021 |
| All other expenses | $0 |
| Total functional expenses | $1,043,861 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $2,828,643 |
| Savings and temporary cash investments | $150,001 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $1,494 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $0 |
| Net Land, buildings, and equipment | $21,604,652 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $24,584,790 |
| Accounts payable and accrued expenses | $0 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| Tax-exempt bond liabilities | $0 |
| Escrow or custodial account liability | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $10,000,000 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $0 |
| Total liabilities | $10,000,000 |
| Net assets without donor restrictions | $14,584,790 |
| Net assets with donor restrictions | $0 |
| Capital stock or trust principal, or current funds | $0 |
| Paid-in or capital surplus, or land, building, or equipment fund | $0 |
| Retained earnings, endowment, accumulated income, or other funds | $0 |
| Total liabilities and net assets/fund balances | $24,584,790 |
Grants Recieved
Over the last fiscal year, we have identified 1 grants that Hoffman Institute Supportingfoundation has recieved totaling $3,000,000.
| Awarding Organization | Amount |
|---|---|
Schwab Charitable Fund San Francisco, CA PURPOSE: HEALTH | $3,000,000 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Movember Foundation Santa Monica, CA | $31,257,231 | $18,583,289 |
Translational Genomics Research Institute Foundation Phoenix, AZ | $24,235,369 | $3,772,453 |
Research Development Foundation Carson City, NV | $46,239,131 | $15,306,815 |
Lucky Duck Foundation San Diego, CA | $8,092,715 | $3,783,020 |
Epidermolysis Bullosa Medical Research Foundation Los Angeles, CA | $3,863,477 | $772,726 |
Healthy Brains Global Initiative Inc Rutherford, CA | $908,350 | $655,748 |
Hoffman Institute Supportingfoundation San Rafael, CA | $24,584,790 | $6,921,250 |
E C Fuller Trust U Art 16 Main Las Vegas, NV | $8,830,122 | $1,205,687 |
Health 2 0 Advocates Inc San Anselmo, CA | $214,477 | $668,370 |
Cruisin For A Cure Lake Forest, CA | $1,800,129 | $335,524 |
Brain Mapping Support Foundation Los Angeles, CA | $17,938,053 | $1,060,841 |
Navajo Hopi Health Foundation Inc Tuba City, AZ | $9,740,178 | $592,118 |