Herbert W Hoover Foundation 06881-005
- Assets
- $19.9m
- Revenue
- $1.9m
- Investments
- $19.5m
- Employees
- 0
- Location
- Brooklyn, OH
- Founding
- 04/1972
- Data as of
- 12/2023
- EIN
- 34-6905388
Organization Overview
Herbert W Hoover Foundation 06881-005 is located in Brooklyn, OH. The organization was established in 1972. 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. Herbert W Hoover Foundation 06881-005 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 12/2023, Herbert W Hoover Foundation 06881-005 generated $1.9m in total revenue. This organization has experienced exceptional growth, as over the past 5 years, it has increased revenue by an average of 13.1% each year . All expenses for the organization totaled $1.7m during the year ending 12/2023. While expenses have increased by 7.4% per year over the past 5 years. They've been increasing with an increasing level of total revenue. You can explore the organizations financials more deeply in the financial statements section below.
Since 2020, Herbert W Hoover Foundation 06881-005 has awarded 19 individual grants totaling $1,456,735. 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 |
|---|---|---|---|
Keybank Trustee | 8 | $128,580 | |
Elizabeth Lacy Hoover Board Chair | 30 | $0 | |
Colton Hoover Chase Board Vice-Chairman | 5 | $0 | |
Dr Jeff Congeni Board Member | 1 | $0 | |
Jacqueline Degarmo Board Member | 1 | $0 | |
Audrey Lavin Board Member | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $0 |
| Interest on Savings | $0 |
| Dividends & Interest | $339,790 |
| Net Rental Income | $0 |
| Net Gain on Sale of Assets | $1,512,483 |
| Capital Gain Net Income | $1,512,483 |
| Net ST Capital Gain | $0 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $0 |
| Other Income | $50,476 |
| Total Revenue | $1,902,749 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $128,580 |
| Other employee salaries and wages | $215,320 |
| Pension plans, employee benefits | $0 |
| Interest | $0 |
| Taxes | $153,389 |
| Depreciation | $0 |
| Occupancy | $0 |
| Travel, conferences, and meetings | $0 |
| Printing and publications | $0 |
| Other expenses | $289,031 |
| Total operating and administrative expenses | $794,018 |
| Contributions, gifts, grants paid | $951,985 |
| Total expenses and disbursements | $1,746,003 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $3,343 |
| Savings and temporary cash investments | $406,184 |
| 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 | $19,513,266 |
| Net Land, buildings, and equipment | $0 |
| Other assets | $0 |
| Total assets | $19,922,793 |
| Accounts payable and accrued expenses | $0 |
| 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 | $0 |
Grants Awarded
Over the last fiscal year, Herbert W Hoover Foundation 06881-005 has awarded $951,985 in support to 11 organizations.
| Grant Recipient | Amount |
|---|---|
PEW MARINE FELLOWS PROGRAM PURPOSE: GENERAL OPERATING | $65,000 |
CORNELL UNIVERSITY PURPOSE: GENERAL OPERATING | $106,505 |
NORTH CANTON HERITAGE SOCIETY INC PURPOSE: GENERAL OPERATING | $6,500 |
OHIO STATE UNIVERSITY FOUNDATION PURPOSE: GENERAL OPERATING | $374,390 |
MALONE UNIVERSITY PURPOSE: GENERAL OPERATING | $79,700 |
THE WILDERNESS CENTER PURPOSE: GENERAL OPERATING | $21,148 |