Honeywell Foundation Inc
- Assets
- $96.4m
- Revenue
- $11.1m
- Investments
- $3.6k
- Employees
- 144
- Location
- Wabash, IN
- Founding
- 07/1984
- Data as of
- 09/2021
- EIN
- 35-0390706
Organization Overview
Honeywell Foundation Inc is located in Wabash, IN. The organization was established in 1984. According to its NTEE Classification (T70) the organization is classified as: Federated Giving Programs, under the broad grouping of Philanthropy, Voluntarism & Grantmaking Foundations and related organizations. As of 09/2021, Honeywell Foundation Inc employed 144 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Honeywell Foundation Inc 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 09/2021, Honeywell Foundation Inc generated $11.1m in total revenue. This organization has experienced exceptional growth, as over the past 6 years, it has increased revenue by an average of 13.0% each year . All expenses for the organization totaled $6.8m during the year ending 09/2021. You can explore the organizations financials more deeply in the financial statements section below.
Form
990T
Mission & Program ActivityExcerpts From the 990T Filing
TAX YEAR
2021
Describe the Organization's Mission:
Part 3 - Line 1
THE HONEYWELL FOUNDATION PROVIDES DIVERSE PROGRAMMING INCLUDING FREE EDUCATIONAL OFFERINGS FOR YOUTH; GALLERY EXHIBITS AND COMPETITIONS; AND INSPIRING PERFORMING ART OPPORTUNITIES.
Describe the Organization's Program Activity:
THE FOUNDATION OWNS AND OPERATES THE HONEYWELL CENTER, AN ARTS AND ENTERTAINMENT FACILITY THAT INCLUDES A 1,500-SEAT THEATER, AN ART GALLERY, ROLLER SKATING RINK, MEETING ROOMS AND A RESTAURANT FACILITY IN DOWNTOWN WABASH, INDIANA. THE FOUNDATION ALSO OWNS AND OPERATES EAGLES THEATRE, WHICH FEATURES LIVE PERFORMANCES, CLASSIC AND FIRST-RUN FILMS, MUSIC LESSONS, MEDIA ARTS PROGRAM AND BALLROOM SPACE; THE HONEYWELL HOUSE, A CULTURAL CENTER THAT INCORPORATES CONCERTS, FINE ART AND DINING; CHARLEY CREEK GARDENS, A HORTICULTURE CENTER DEDICATED TO THE CONSERVATION AND APPRECIATION OF PLANTS; AND THE DR. JAMES FORD HISTORIC HOME, A HOUSE MUSEUM SET IN THE MID-1800'S. THE FOUNDATION ALSO OPERATES (BUT DOES NOT OWN) A LOCAL DRIVE-IN MOVIE THEATER. PRIMARY ACTIVITIES OF THE FOUNDATION INCLUDE PROVIDING DIVERSE AND ENRICHING PROGRAMS AS WELL AS ARTS EDUCATIONAL INITIATIVES FOR YOUTH. THE FOUNDATION'S PRIMARY SOURCES OF REVENUE AND SUPPORT ARE FROM TICKET SALES, FOOD SERVICE AND CONTRIBUTIONS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Tod Minnich President / CEO | OfficerTrustee | 40 | $199,446 |
Kyle Dubois Chief Operating Officer | Officer | 40 | $120,789 |
Cathy Gatchel Chief Development Officer | Officer | 40 | $118,857 |
Amy Sullivan Treasurer | OfficerTrustee | 2 | $0 |
Kevin Willour Left 0421 Secretary | OfficerTrustee | 2 | $0 |
Phyllis Downey Start 0521 Secretary | OfficerTrustee | 2 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Intrasect Technologies It | 9/29/20 | $117,164 |
Optimum Construction Services Construction | 9/29/20 | $526,471 |
Millwright Solutions Construction | 9/29/20 | $385,323 |
Optimum Construction Services Construction | 9/29/20 | $526,471 |
Millwright Solutions Construction | 9/29/20 | $385,323 |
Intrasect Technologies It | 9/29/20 | $117,164 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $641,000 |
| All other contributions, gifts, grants, and similar amounts not included above | $3,311,382 |
| Noncash contributions included in lines 1a–1f | $388,031 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $3,952,382 |
| Total Program Service Revenue | $1,667,501 |
| Investment income | $347,075 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $219,633 |
| Net Gain/Loss on Asset Sales | $4,716,090 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $11,061,690 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $14,580 |
| 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. | $545,597 |
| Compensation of current officers, directors, key employees. | $126,918 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $2,028,769 |
| Pension plan accruals and contributions | $187,049 |
| Other employee benefits | $342,677 |
| Payroll taxes | $194,888 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $6,834 |
| Fees for services: Accounting | $25,717 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $15,361 |
| Fees for services: Other | $1,028,583 |
| Advertising and promotion | $171,281 |
| Office expenses | $54,545 |
| Information technology | $84,696 |
| Royalties | $46,341 |
| Occupancy | $692,704 |
| Travel | $13,086 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $17,892 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $904,771 |
| Insurance | $79,386 |
| All other expenses | $0 |
| Total functional expenses | $6,786,931 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $4,425 |
| Savings and temporary cash investments | $1,542,539 |
| Pledges and grants receivable | $1,578,547 |
| Accounts receivable, net | $105,151 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $69,598 |
| Inventories for sale or use | $21,693 |
| Prepaid expenses and deferred charges | $244,771 |
| Net Land, buildings, and equipment | $23,613,175 |
| Investments—publicly traded securities | $66,142,816 |
| Investments—other securities | $3,558 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $3,115,347 |
| Total assets | $96,441,620 |
| Accounts payable and accrued expenses | $757,350 |
| Grants payable | $0 |
| Deferred revenue | $1,130,971 |
| 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 | $0 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $1,729,902 |
| Total liabilities | $3,618,223 |
| Net assets without donor restrictions | $25,680,126 |
| Net assets with donor restrictions | $67,143,271 |
| 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 | $96,441,620 |
Grants Awarded
Over the last fiscal year, Honeywell Foundation Inc has awarded $20,000 in support to 2 organizations.
| Grant Recipient | Amount |
|---|---|
THE EDUCATION WE ALL DESERVE FOUNDATION INC PURPOSE: QUARTERLY CONTRIBUTIONS | $10,000 |
Wabash, IN PURPOSE: MARY POPPINS PLAY | $10,000 |
Grants Recieved
Over the last fiscal year, we have identified 1 grants that Honeywell Foundation Inc has recieved totaling $4,584.
| Awarding Organization | Amount |
|---|---|
Florence M & Paul M Staehle Foundation Pittsburgh, PA PURPOSE: ARTS IN EDUCATION | $4,584 |
Endowment Analysis
| Beg. Balance | $56,567,826 |
| Earnings | $10,701,730 |
| Net Contributions | $65,285 |
| Other Expense | $1,946,891 |
| Grants | $14,580 |
| Ending Balance | $65,373,370 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Crown Family Foundation Chicago, IL | $468,729,562 | $19,005,366 |
Christian Community Health Center Chicago, IL | $24,875,996 | $21,223,346 |
Jewish Federation Of St Louis St Louis, MO | $156,968,183 | $19,475,995 |
Pritzker Family Philanthropic Fund Chicago, IL | $175,241,348 | $15,696,254 |
Memorial Foundation Inc Belleville, IL | $139,919,506 | $17,553,919 |
Ramtell Inc Tell City, IN | $25,696,087 | $2,760,088 |
Marquardt Home And Community Based Services Inc Watertown, WI | $9,140,172 | $14,598,397 |
Jewish Federation Of Greater Indianapolis Inc Indianapolis, IN | $105,560,722 | $10,106,603 |
Winning Wheels Inc Prophetstown, IL | $11,909,541 | $13,671,140 |
United Way Fox Cities Inc Menasha, WI | $16,186,120 | $10,302,524 |
Heart Of Illinois United Way Inc Peoria, IL | $14,132,248 | $9,955,140 |
Jewish Community Of Louisville Inc Louisville, KY | $51,829,029 | $17,241,761 |