Hoyt Sherman Place Foundation
- Assets
- $25.2m
- Revenue
- $4.3m
- Investments
- $0.0
- Employees
- 38
- Location
- Des Moines, IA
- Founding
- 09/1995
- Data as of
- 06/2022
- EIN
- 42-1433940
Organization Overview
Hoyt Sherman Place Foundation is located in Des Moines, IA. The organization was established in 1995. According to its NTEE Classification (A80) the organization is classified as: Historical Organizations, under the broad grouping of Arts, Culture & Humanities and related organizations. As of 06/2022, Hoyt Sherman Place Foundation employed 38 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Hoyt Sherman Place Foundation 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, Hoyt Sherman Place Foundation generated $4.3m in total revenue. This organization has experienced exceptional growth, as over the past 7 years, it has increased revenue by an average of 50.2% each year . All expenses for the organization totaled $4.8m during the year ending 06/2022. While expenses have increased by 39.1% 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.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2022
Describe the Organization's Mission:
Part 3 - Line 1
MAINTENANCE AND PRESERVATION OF THE HOYT SHERMAN MANSION, MUSEUM, THEATER, AND SURROUNDING GROUNDS FOR PUBLIC VIEWING AND USE.
Describe the Organization's Program Activity:
Part 3 - Line 4a
THEATER EVENTS
GENERAL OPERATING
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Robert Warren Executive Director | Officer | 40 | $187,062 |
Bev Hutney Past President | OfficerTrustee | 1 | $0 |
Jeff Vorwerk President | OfficerTrustee | 2 | $0 |
Joyce Larson Treasurer | OfficerTrustee | 2 | $0 |
Kristie Bell Secretary | OfficerTrustee | 2 | $0 |
John Krantz Vice President | OfficerTrustee | 2 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $1,410,728 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $1,410,728 |
| Total Program Service Revenue | $3,656,551 |
| Investment income | -$758,106 |
| 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 | $4,318,549 |
| 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 | $919,864 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $182,172 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $0 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $2,683,090 |
| Advertising and promotion | $12,827 |
| Office expenses | $0 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $391,403 |
| Travel | $7,104 |
| 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 | $443,698 |
| Insurance | $0 |
| All other expenses | $0 |
| Total functional expenses | $4,760,147 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $111,431 |
| Savings and temporary cash investments | $1,371,392 |
| Pledges and grants receivable | $75,039 |
| Accounts receivable, net | $114,610 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $1,432,700 |
| Inventories for sale or use | $10,576 |
| Prepaid expenses and deferred charges | $19,560 |
| Net Land, buildings, and equipment | $9,326,295 |
| Investments—publicly traded securities | $4,731,547 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $8,015,878 |
| Total assets | $25,209,028 |
| Accounts payable and accrued expenses | $137,470 |
| Grants payable | $0 |
| Deferred revenue | $1,030,350 |
| 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 | $2,622,067 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $0 |
| Total liabilities | $3,789,887 |
| Net assets without donor restrictions | $21,156,529 |
| Net assets with donor restrictions | $262,612 |
| 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 | $25,209,028 |
Grants Recieved
Over the last fiscal year, we have identified 3 grants that Hoyt Sherman Place Foundation has recieved totaling $248,600.
| Awarding Organization | Amount |
|---|---|
Bravo Greater Des Moines Inc Des Moines, IA PURPOSE: GENERAL FUNDING | $138,250 |
Prairie Meadows Race Track & Casino Inc Altoona, IA PURPOSE: Hoyt Sherman Place Mansion Restoration, Preservation and Access for All | $100,000 |
American Endowment Foundation Hudson, OH PURPOSE: ARTS, CULTURE | $10,350 |
Endowment Analysis
| Beg. Balance | $5,498,899 |
| Earnings | -$707,958 |
| Admin Expense | $18,617 |
| Other Expense | $40,778 |
| Ending Balance | $4,731,546 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Pioneer Home Incorporated Fergus Falls, MN | $18,276,562 | $17,034,682 |
Liberty Memorial Association Kansas City, MO | $35,751,544 | $14,461,883 |
Steel Founders Society Of America Crystal Lake, IL | $6,567,517 | $7,560,615 |
Colonel Il James N Pritzker Library For The Citizen Soldier Chicago, IL | $30,735,848 | $6,408,136 |
Hoyt Sherman Place Foundation Des Moines, IA | $25,209,028 | $4,318,549 |
The Durham Museum Omaha, NE | $15,389,425 | $5,410,421 |
American Opinion Foundation Inc Appleton, WI | $4,682,811 | $5,136,878 |
Clover Fields Preservation Foundation Inc Minneapolis, MN | $10,552,332 | $5,740,196 |
Frank Lloyd Wright Trust Chicago, IL | $6,763,209 | $2,823,161 |
Chicago Police Memorial Foundation Chicago, IL | $19,000,783 | $6,539,777 |
The Basilica Landmark Minneapolis, MN | $10,889,737 | $3,579,135 |
Otho S A Sprague Memorial Institute Chicago, IL | $50,228,527 | $3,261,875 |