Armand Hammer Foundation Michael A Hammer
- Assets
- $95.0m
- Revenue
- $3.8m
- Investments
- $34.6m
- Employees
- 0
- Location
- Pompano Beach, FL
- Founding
- 12/1968
- Data as of
- 12/2021
- EIN
- 23-7010813
Organization Overview
Armand Hammer Foundation Michael A Hammer is located in Pompano Beach, FL. The organization was established in 1968. According to its NTEE Classification (T20) the organization is classified as: Private Grantmaking 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. Armand Hammer Foundation Michael A Hammer 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, Armand Hammer Foundation Michael A Hammer generated $3.8m in total revenue. This represents a relatively dramatic decline in revenue. Over the past 3 years, the organization has seen revenues fall by an average of (6.7%) each year. All expenses for the organization totaled $7.1m during the year ending 12/2021. As we would expect to see with falling revenues, expenses have declined by (1.6%) per year over the past 3 years. You can explore the organizations financials more deeply in the financial statements section below.
Since 2020, Armand Hammer Foundation Michael A Hammer has awarded 44 individual grants totaling $3,463,088. 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 |
|---|---|---|---|
Michael A Hammer President/chairman/ceo/dir | 40 | $505,000 | |
Viktor Hammer Director | 1 | $0 | |
Rex Alexander Treasurer/secretary/dir | 1 | $40,000 | |
Peter Sansone Director | 1 | $40,000 | |
Jim Frasier Director | 1 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Moremoorpark Llc | 12/30/21 | $325,172 |
Charles D Schmerler | 12/30/21 | $294,700 |
Goldin Solutions Inc | 12/30/21 | $260,000 |
Bull Canyon Inc | 12/30/21 | $185,000 |
Clare Locke Llp | 12/30/21 | $115,474 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $0 |
| Interest on Savings | $0 |
| Dividends & Interest | $824,793 |
| Net Rental Income | $0 |
| Net Gain on Sale of Assets | $2,444,385 |
| Capital Gain Net Income | $2,444,385 |
| Net ST Capital Gain | $0 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $0 |
| Other Income | $540,014 |
| Total Revenue | $3,809,192 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $585,000 |
| Other employee salaries and wages | $169,000 |
| Pension plans, employee benefits | $264,695 |
| Interest | $472,635 |
| Taxes | $72,095 |
| Depreciation | $131,218 |
| Occupancy | $0 |
| Travel, conferences, and meetings | $203,724 |
| Printing and publications | $0 |
| Other expenses | $835,092 |
| Total operating and administrative expenses | $4,235,332 |
| Contributions, gifts, grants paid | $2,870,026 |
| Total expenses and disbursements | $7,105,358 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $341,931 |
| Savings and temporary cash investments | $0 |
| Net Accounts receivable | $0 |
| 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 | $3,256,833 |
| Other assets | $56,751,346 |
| Total assets | $94,980,694 |
| Accounts payable and accrued expenses | $217,165 |
| 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 | $19,641,977 |
| Total liabilities | $19,859,142 |
Grants Awarded
Over the last fiscal year, Armand Hammer Foundation Michael A Hammer has awarded $2,870,026 in support to 28 organizations.
| Grant Recipient | Amount |
|---|---|
911 AT EASE INTERNATIONAL INC PURPOSE: GENERAL FUNDS | $550,000 |
CHANEL ISLANDS UMPCA PURPOSE: EVENT SPONSORSHIP | $2,120 |
CHP 11-99 FOUNDATION PURPOSE: GENERAL FUNDS | $1,000 |
DREAM FOUNDATION PURPOSE: GENERAL FUNDS | $10,000 |
EXCHANGE CLUB OF CULVER CITY PURPOSE: EVENT SPONSORSHIP | $15,000 |
GENYOUTH PURPOSE: EVENT SPONSORSHIP | $10,298 |