The Huether Foundation Inc
- Assets
- $8.3m
- Revenue
- $757.5k
- Investments
- $7.0m
- Employees
- 0
- Location
- Phoenix, MD
- Founding
- 06/1986
- Data as of
- 12/2023
- EIN
- 52-1435090
Organization Overview
The Huether Foundation Inc is located in Phoenix, MD. The organization was established in 1986. 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. Huether 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 12/2023, Huether Foundation Inc generated $757.5k in total revenue. This represents a relatively dramatic decline in revenue. Over the past 5 years, the organization has seen revenues fall by an average of (4.1%) each year. All expenses for the organization totaled $496.2k during the year ending 12/2023. You can explore the organizations financials more deeply in the financial statements section below.
Since 2020, Huether Foundation Inc has awarded 199 individual grants totaling $1,923,303. 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
990PF
Mission & Program ActivityExcerpts From the 990PF Filing
TAX YEAR
2023
Describe the Organization's Program Activity:
Part 3 - Line 4a
SCHOLARSHIP PROGRAM WITH THE HARFORD COUNTY, MD SCHOOL SYSTEM. THE FDN AWARDS A COLLEGE SCHOLARSHIP TO A SENIOR IN A HARFORD COUNTY HIGH SCHOOL WHO PLANS TO PURSUE ENGINEERING STUDIES IN COLLEGE. RECIPIENT STUDENT IS REQUIRED TO MAINTAIN PASSING GRADES IN COLLEGE AS A CONDITION FOR KEEPING THE SCHOLARSHIP. THE SCHOLARSHIP AMOUNT IS $10,000 A YEAR AND CONTINUES FOR FOUR YEARS FOR NEW RECIPIENTS. THE SCHOLARSHIPS ARE PAID DIRECTLY TO COLLEGES WHERE THE RECIPIENTS ATTEND.
SCHOLARSHIP PROGRAM WITH INDEPENDENT CAN COMPANY EMPLOYEES. THE FDN AWARDS A COLLEGE SCHOLARSHIP TO CHILDREN OF EMPLOYEES OF INDEPENDENT CAN COMPANY WHO MEET SPECIFIC CRITERIA. THE SCHOLARSHIP IS FOR $3,000 A SEMESTER, WITH A MAXIMUM OF $6,000 FOR TWO SEMESTERS. IN 2023, STUDENTS RECEIVED A TOTAL OF $26,404 UNDER THE PROGRAM. THE SCHOLARSHIPS WERE PAID DIRECTLY TO THE COLLEGES.
SCHOLARSHIP PROGRAM WITH MCDONOGH SCHOOL. THE FDN AWARDS A COLLEGE SCHOLARSHIP TO A SENIOR AT MCDONOGH SCHOOL WHO PLANS TO PURSUE ENGINEERING STUDIES IN COLLEGE. THE SCHOLARSHIP IS $10,000 ANNUALLY AND CONTINUES FOR FOUR YEARS. THE SCHOLARSHIPS WERE PAID DIRECTLY TO THE COLLEGES.THE SCHOLARSHIPS WERE PAID DIRECTLY TO COLUMBIA UNIVERSITY, NORTHEASTERN UNIVERSITY, AND UNIVERSITY OF MIAMI.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Catherine H Mcclelland Secretary | 0 | $0 | |
George R Mcclelland President | 0.5 | $0 | |
H Douglas Huether Chairman | 0.5 | $0 | |
Courtney Gonzalez Vice-President | 0 | $0 | |
Robert Mcclelland Treasurer | 0.5 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $273,100 |
| Interest on Savings | $0 |
| Dividends & Interest | $292,415 |
| Net Rental Income | $0 |
| Net Gain on Sale of Assets | $192,023 |
| Capital Gain Net Income | $192,023 |
| Net ST Capital Gain | $0 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $0 |
| Other Income | $0 |
| Total Revenue | $757,538 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $0 |
| Other employee salaries and wages | $0 |
| Pension plans, employee benefits | $0 |
| Interest | $0 |
| Taxes | $0 |
| Depreciation | $0 |
| Occupancy | $0 |
| Travel, conferences, and meetings | $0 |
| Printing and publications | $0 |
| Other expenses | $33 |
| Total operating and administrative expenses | $2,833 |
| Contributions, gifts, grants paid | $493,404 |
| Total expenses and disbursements | $496,237 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $103,340 |
| Savings and temporary cash investments | $1,157,005 |
| 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 | $0 |
| Total assets | $8,299,802 |
| 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, The Huether Foundation Inc has awarded $493,404 in support to 50 organizations.
| Grant Recipient | Amount |
|---|---|
VIRGINIA TECH PURPOSE: UNRESTRICTED | $5,000 |
OHIO STATE PURPOSE: SCHOLARSHIP PROGRAM, SEE PART IX-A | $10,000 |
CECIL COLLEGE PURPOSE: SCHOLARSHIP PROGRAM, SEE PART IX-A | $2,404 |
MORGAN STATE UNIVERSITY PURPOSE: SCHOLARSHIP PROGRAM, SEE PART IX-A | $3,000 |
MORGAN STATE PURPOSE: SCHOLARSHIP PROGRAM, SEE PART IX-A | $3,000 |
MT WASHINGTON PEDIATRIC PURPOSE: UNRESTRICTED | $10,000 |