Hoover Family Foundation Inc
- Assets
- $10.6m
- Revenue
- $597.0k
- Investments
- $9.4m
- Employees
- 0
- Location
- Indianapolis, IN
- Founding
- 04/1994
- Data as of
- 06/2022
- EIN
- 35-1873953
Organization Overview
Hoover Family Foundation Inc is located in Indianapolis, IN. The organization was established in 1994. 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. Hoover Family 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 06/2022, Hoover Family Foundation Inc generated $597.0k in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 9.1% each year. All expenses for the organization totaled $1.0m during the year ending 06/2022. While expenses have increased by 2.1% per year over the past 7 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 2016, Hoover Family Foundation Inc has awarded 550 individual grants totaling $4,008,869. 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 |
|---|---|---|---|
David C Hoover President | 40 | $116,436 | |
Glen H Friedman Executive Di | 40 | $101,285 | |
Anne Hoover Director | 3 | $0 | |
Cynthia K Hoover Vice Preside | 3 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $0 |
| Interest on Savings | $127 |
| Dividends & Interest | $440,485 |
| Net Rental Income | $0 |
| Net Gain on Sale of Assets | $156,369 |
| Capital Gain Net Income | $112,534 |
| Net ST Capital Gain | $0 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $0 |
| Other Income | $0 |
| Total Revenue | $596,981 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $217,721 |
| Other employee salaries and wages | $11,000 |
| Pension plans, employee benefits | $131,676 |
| Interest | $0 |
| Taxes | $1,831 |
| Depreciation | $0 |
| Occupancy | $16,300 |
| Travel, conferences, and meetings | $0 |
| Printing and publications | $0 |
| Other expenses | $24,203 |
| Total operating and administrative expenses | $486,640 |
| Contributions, gifts, grants paid | $561,705 |
| Total expenses and disbursements | $1,048,345 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $366,800 |
| Savings and temporary cash investments | $865,374 |
| 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 | $0 |
| Other assets | $7,138 |
| Total assets | $10,646,353 |
| 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, Hoover Family Foundation Inc has awarded $561,705 in support to 80 organizations.
| Grant Recipient | Amount |
|---|---|
OTIS R BOWEN CENTER FOR HUMAN PURPOSE: REHABILITATED HOUSING PROJECT | $15,000 |
HEALTH & HOSPITAL CORP OF MARION CO PURPOSE: CANCER PATIENT SUPPORT PROGRAM | $10,500 |
Indianapolis, IN PURPOSE: YOUTH ADVOCATES PROGRAM FOR FOSTER | $10,000 |
Indianapolis, IN PURPOSE: MID NORTH PROMISE PROGRAM | $10,000 |
AMERICAN CANCER SOCIETY PURPOSE: BREAST CANCER EDUCATION & SCREENINGS | $10,000 |
91 PLACE PURPOSE: STIPEND FOR HOMELESS YOUTH MENTORS | $10,000 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Ed Uihlein Family Foundation Lake Forest, IL | $7,123,989 | $4,757,675 |
Joseph L & Sarah S Marcum Foundation Chicago, IL | $0 | $6,419,437 |
Kraft Heinz Company Foundation Chicago, IL | $398,764 | $8,002,636 |
State Farm Companies Foundation Bloomington, IL | $9,666,483 | $1,134 |
Bayer Fund St Louis, MO | $65,640,119 | $9,167,249 |
Marie C & Joseph C Wilson Foundation Chicago, IL | $0 | $53,412 |
Humana Foundation Inc Louisville, KY | $467,311,073 | $9,744,567 |
Alphawood Foundation Chicago, IL | $96,386,448 | $15,256,055 |
Steans Family Foundation Chicago, IL | $0 | $20,140,801 |
Reiman Foundation Inc Pewaukee, WI | $64,480,239 | $12,529,672 |
Roger And Susan Stone Family Foundation Northbrook, IL | $23,476,805 | $8,385,528 |
Galashiels Fund Ltd Northbrook, IL | $154,593,436 | $48,314,988 |