Mark G Hovanasian Foundation
- Assets
- $466.2k
- Revenue
- $54.1k
- Investments
- $313.9k
- Employees
- 0
- Location
- North Andover, MA
- Founding
- 08/2014
- Data as of
- 12/2022
- EIN
- 47-1391177
Organization Overview
Mark G Hovanasian Foundation is located in North Andover, MA. The organization was established in 2014. According to its NTEE Classification (T22) the organization is classified as: Private Independent 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. Mark G Hovanasian 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 12/2022, Mark G Hovanasian Foundation generated $54.1k in total revenue. This organization has experienced exceptional growth, as over the past 4 years, it has increased revenue by an average of 34.4% each year . All expenses for the organization totaled $30.3k during the year ending 12/2022. You can explore the organizations financials more deeply in the financial statements section below.
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Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $0 |
| Interest on Savings | $0 |
| Dividends & Interest | $12,758 |
| Net Rental Income | $0 |
| Net Gain on Sale of Assets | $41,359 |
| Capital Gain Net Income | $41,359 |
| Net ST Capital Gain | $0 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $0 |
| Other Income | $0 |
| Total Revenue | $54,117 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $8,748 |
| Other employee salaries and wages | $0 |
| Pension plans, employee benefits | $0 |
| Interest | $0 |
| Taxes | $853 |
| Depreciation | $0 |
| Occupancy | $0 |
| Travel, conferences, and meetings | $0 |
| Printing and publications | $0 |
| Other expenses | $0 |
| Total operating and administrative expenses | $12,838 |
| Contributions, gifts, grants paid | $17,500 |
| Total expenses and disbursements | $30,338 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $152,247 |
| 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 | $68,339 |
| Net Land, buildings, and equipment | $0 |
| Other assets | $0 |
| Total assets | $466,154 |
| 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, Mark G Hovanasian Foundation has awarded $17,500 in support to 3 organizations.
| Grant Recipient | Amount |
|---|---|
SAINT VARTANANTZ PURPOSE: RELIGIOUS | $7,500 |
ST JUDE'S PURPOSE: TREAT CHILDREN WITH CANCER | $7,500 |
KREMPELS CENTER PURPOSE: MEDICAL | $2,500 |