Western Home Foundation
- Assets
- $4.7m
- Revenue
- $1.1m
- Investments
- $3.4m
- Employees
- 0
- Location
- Cedar Falls, IA
- Founding
- 12/2000
- Data as of
- 12/2021
- EIN
- 42-1505760
Organization Overview
Western Home Foundation is located in Cedar Falls, IA. The organization was established in 2000. According to its NTEE Classification (L12) the organization is classified as: Fund Raising & Fund Distribution, under the broad grouping of Housing & Shelter and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Western Home 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 12/2021, Western Home Foundation generated $1.1m in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 1.9% each year. All expenses for the organization totaled $594.5k during the year ending 12/2021. You can explore the organizations financials more deeply in the financial statements section below.
Since 2015, Western Home Foundation has awarded 13 individual grants totaling $5,322,812. 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.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2021
Describe the Organization's Mission:
Part 3 - Line 1
TO SUPPORT THE MISSION OF WESTERN HOME COMMUNITIES THROUGH PHILANTHROPIC GIFTS AND STEWARDSHIPS.
Describe the Organization's Program Activity:
Part 3 - Line 4a
ESTABLISHMENT OF AN ENDOWMENT FUND TO SUPPORT THE OPERATIONS OF WESTERN HOME COMMUNITIES, INC, AN IOWA NONPROFIT CORPORATION THAT IS A MULTI-LEVEL CARE FACILITY FOR THE AGED AND INFIRM.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Dr Richard Frankhauser Secretary | OfficerTrustee | 1 | $0 |
Larry Fox Immediate Past Chair | OfficerTrustee | 1 | $0 |
Ronald Gaines Vice Chair | OfficerTrustee | 1 | $0 |
Sarah Brown Chair | OfficerTrustee | 1 | $0 |
Greg Schmitz Treasurer | OfficerTrustee | 1 | $0 |
Jerry Harris Chief Operating Officer | Officer | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $60,840 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $848,846 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $909,686 |
| Total Program Service Revenue | $0 |
| Investment income | $244,483 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | -$25,913 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $1,131,480 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $151,722 |
| 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 | $0 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $100 |
| Payroll taxes | $0 |
| Fees for services: Management | $420,000 |
| 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 | $7,955 |
| Fees for services: Other | $2,305 |
| Advertising and promotion | $4,665 |
| Office expenses | $86 |
| Information technology | $2,678 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $3,900 |
| 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 | $0 |
| Insurance | $0 |
| All other expenses | $1,102 |
| Total functional expenses | $594,513 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $741,516 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $559,215 |
| Accounts receivable, net | $0 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $0 |
| Net Land, buildings, and equipment | $0 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $3,364,619 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $4,665,350 |
| Accounts payable and accrued expenses | $2,780 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| 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 | $1,035,106 |
| Total liabilities | $1,037,886 |
| Net assets without donor restrictions | $2,931,345 |
| Net assets with donor restrictions | $696,119 |
| 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 | $4,665,350 |
Grants Awarded
Over the last fiscal year, Western Home Foundation has awarded $134,118 in support to 3 organizations.
| Grant Recipient | Amount |
|---|---|
Cedar Falls, IA PURPOSE: TO SUPPORT THE MISSION OF THE MARTIN HEALTH CENTER | $92,320 |
Cedar Falls, IA PURPOSE: TO SUPPORT THE MISSION OF WESTERN HOME SERVICES, INC. | $26,528 |
Cedar Falls, IA PURPOSE: TO SUPPORT THE MISSION OF WESTERN HOME GROUP | $15,270 |
Grants Recieved
Over the last fiscal year, we have identified 2 grants that Western Home Foundation has recieved totaling $107,626.
| Awarding Organization | Amount |
|---|---|
Schwab Charitable Fund San Francisco, CA PURPOSE: HUMAN SERVICES | $56,700 |
Paypal Charitable Giving Fund Washington, DC PURPOSE: General Support | $50,926 |
Endowment Analysis
| Beg. Balance | $473,790 |
| Net Contributions | $26,455 |
| Ending Balance | $500,245 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Community Initatives Inc Chicago, IL | $14,770,458 | $3,114,149 |
Lss Foundation Inc West Allis, WI | $32,868,828 | $1,061,850 |
Edward And Hannah M Rutledge Charities Inc Chippewa Falls, WI | $0 | $2,022,116 |
Episcopal Homes Foundation Of Minnesota St Paul, MN | $22,682,263 | $1,436,533 |
Wheda Foundation Inc Madison, WI | $1,008,183 | $1,000,000 |
Tabitha Alf Real Estate Holding Inc Lincoln, NE | $7,372,633 | $661,350 |
Housing Action Coalition Of Waukesha County Inc Waukesha, WI | $1,671,468 | $1,634,041 |
Western Home Foundation Cedar Falls, IA | $4,665,350 | $1,131,480 |
Omaha Shelter For Homeless Trust Omaha, NE | $2,869,494 | $382,228 |
Kingswood Senior Living Community Foundation Kansas City, MO | $1,424,825 | $366,812 |
Southwest Iowa Housing Trust Fund Inc Atlantic, IA | $249,762 | $246,759 |
Waterloo Housing Trust Fund Waterloo, IA | $75,553 | $195,062 |