The H Hovnanian Family Foundation
- Assets
- $208.2m
- Revenue
- $11.0m
- Investments
- $137.4m
- Employees
- 0
- Location
- Tinton Falls, NJ
- Founding
- 01/1987
- Data as of
- 12/2022
- EIN
- 59-2714390
Organization Overview
The H Hovnanian Family Foundation is located in Tinton Falls, NJ. The organization was established in 1987. 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. H Hovnanian Family 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, H Hovnanian Family Foundation generated $11.0m in total revenue. This represents relatively stable growth, over the past 4 years the organization has increased revenue by an average of 8.5% each year. All expenses for the organization totaled $13.4m during the year ending 12/2022. While expenses have increased by 13.4% per year over the past 4 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 2021, H Hovnanian Family Foundation has awarded 234 individual grants totaling $21,138,124. 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 |
|---|---|---|---|
Edele Hovnanian President | 22 | $169,062 | |
Gorr Sahakian Vice President/secretary | 2 | $0 | |
Siran Sahakian Treasurer | 2 | $0 | |
Armen Hovnanian Trustee | 2 | $0 | |
Haik Sahakian Trustee | 2 | $0 | |
Leela Hovnanian Trustee | 2 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Us Trust | 12/30/22 | $157,563 |
Merrill Lynch | 12/30/22 | $381,393 |
Goldman Sachs | 12/30/22 | $258,586 |
Ares Sdl Fund | 12/30/22 | $246,437 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $2,005,159 |
| Interest on Savings | $0 |
| Dividends & Interest | $3,710,586 |
| Net Rental Income | $2,301,689 |
| Net Gain on Sale of Assets | $664,820 |
| Capital Gain Net Income | $664,820 |
| Net ST Capital Gain | $0 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $0 |
| Other Income | $1,626,225 |
| Total Revenue | $10,975,273 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $169,062 |
| Other employee salaries and wages | $272,980 |
| Pension plans, employee benefits | $30,460 |
| Interest | $0 |
| Taxes | $588,235 |
| Depreciation | $694,404 |
| Occupancy | $0 |
| Travel, conferences, and meetings | $50,369 |
| Printing and publications | $0 |
| Other expenses | $661,881 |
| Total operating and administrative expenses | $3,605,303 |
| Contributions, gifts, grants paid | $9,760,560 |
| Total expenses and disbursements | $13,365,863 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $13,203,493 |
| Savings and temporary cash investments | $34,999,614 |
| 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 | $256,283 |
| Net Investments - land, buildings, equipment | $18,823,809 |
| Investments—mortgage loans | $0 |
| Investments—other | $912,428 |
| Net Land, buildings, and equipment | $3,492,775 |
| Other assets | $27,110 |
| Total assets | $208,193,961 |
| 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 | $264,727 |
| Total liabilities | $264,727 |
Grants Awarded
Over the last fiscal year, The H Hovnanian Family Foundation has awarded $9,760,560 in support to 90 organizations.
| Grant Recipient | Amount |
|---|---|
180 TURNING LIVES AROUND INC PURPOSE: UNRESTRICTED GRANT TO SUPPORT THE ORGANIZATION'S EXEMPT PURPOSE. | $5,000 |
4 PEAKS ALPINE CLUB MOUNTAIN PURPOSE: UNRESTRICTED GRANT TO SUPPORT THE ORGANIZATION'S EXEMPT PURPOSE. | $2,088 |
ACS IC OUR LADY OF ARMENIA CONVENT PURPOSE: UNRESTRICTED GRANT TO SUPPORT THE ORGANIZATION'S EXEMPT PURPOSE. | $25,000 |
AGBU PURPOSE: UNRESTRICTED GRANT TO SUPPORT THE ORGANIZATION'S EXEMPT PURPOSE. | $2,500 |
AGULETSI ETHNOGRAPHIC CULTURAL CREATIVE PURPOSE: UNRESTRICTED GRANT TO SUPPORT THE ORGANIZATION'S EXEMPT PURPOSE. | $25,000 |
ANY WISH LLC PURPOSE: UNRESTRICTED GRANT TO SUPPORT THE ORGANIZATION'S EXEMPT PURPOSE. | $18,416 |