The Foundation At Hearst Castle
- Assets
- $454.2k
- Revenue
- $397.1k
- Investments
- $0.0
- Employees
- 4
- Location
- San Simeon, CA
- Founding
- 01/1986
- Data as of
- 12/2022
- EIN
- 77-0068533
Organization Overview
The Foundation At Hearst Castle is located in San Simeon, CA. The organization was established in 1986. According to its NTEE Classification (T70) the organization is classified as: Federated Giving Programs, under the broad grouping of Philanthropy, Voluntarism & Grantmaking Foundations and related organizations. As of 12/2022, Foundation At Hearst Castle employed 4 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Foundation At Hearst Castle 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, Foundation At Hearst Castle generated $397.1k in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 2.4% each year. All expenses for the organization totaled $371.6k during the year ending 12/2022. While expenses have increased by 1.8% 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
THE FOUNDATION AT HEARST CASTLE WORKS TO SUSTAIN HEARST CASTLE, CONSERVE ITS PRICELESS ART COLLECTION, AND INSPIRE FUTURE GENERATIONS. THE NONPROFIT ORGANIZATION RAISES FUNDS VIA DONATION, ANNUAL MEMBERSHIP, AND CHARITABLE EVENTS.
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE FOUNDATION AT HEARST CASTLE'S EVENTS ATTRACT UNIQUE AUDIENCES NOT TRADITIONALLY DRAWN TO THE CASTLE, AND IN SO DOING HEIGHTEN PUBLIC AWARENESS AND OFFER EDUCATIONAL OPPORTUNITIES.WILLIAM RANDOLPH HEARST WAS AN ART COLLECTOR WHO AMASSED AN IMPRESSIVE BODY OF WORK THAT GRACES NOT ONLY SAN SIMEON, BUT PRIVATE COLLECTIONS AND PUBLIC INSTITUTIONS. TWILIGHT ON THE TERRACE IS AN EVENT WHICH INTRODUCES SEVERAL HUNDRED GUESTS TO THE IMPORTANCE OF CONSERVATION OF THIS MUSEUM-QUALITY COLLECTION. THEIR DONATIONS HAVE A CRUCIAL IMPACT ON HEART CASTLE'S FUTURE FOR STUDENTS, SCHOLARS, AND THE VISITING PUBLIC.
PROVIDE SERVICES AND SUPPORT FOR THE SAN LUIS OBISPO COASTAL DISTRICT.
Get More from Intellispect for FreeCreate a free account to get more data, nonprofit salaries, advanced search and more.
Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Mitch Massey Executive Dir. | Trustee | 40 | $140,000 |
Michael Chavez Booth Director | Trustee | 1 | $0 |
Schuyler Hoversten Director | Trustee | 2 | $0 |
Pilaar Terry Director | Trustee | 1 | $0 |
Evelyn Plemons Secretary | OfficerTrustee | 3 | $0 |
Nikki Wilmore Director | Trustee | 2 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Dana Patterson Grant Research | 12/30/21 | $2,589 |
Erik Risser Consultant | 12/30/21 | $14,852 |
Gary Hulbert Restoration | 12/30/21 | $50,000 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $74,880 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $170,276 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $245,156 |
| Total Program Service Revenue | $191,696 |
| Investment income | -$39,711 |
| 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 | $397,141 |
| 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. | $140,000 |
| Compensation of current officers, directors, key employees. | $23,800 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $45,381 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $43,040 |
| Payroll taxes | $14,672 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $4,010 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $6,706 |
| Advertising and promotion | $10,295 |
| Office expenses | $1,418 |
| Information technology | $3,282 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $4,220 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $2,907 |
| Insurance | $6,252 |
| All other expenses | $4,515 |
| Total functional expenses | $371,643 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $209,638 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| 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 | $1,150 |
| Net Land, buildings, and equipment | $0 |
| Investments—publicly traded securities | $243,412 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $454,200 |
| Accounts payable and accrued expenses | $489 |
| Grants payable | $0 |
| Deferred revenue | $3,800 |
| 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 | $5,254 |
| Total liabilities | $9,543 |
| Net assets without donor restrictions | $444,657 |
| Net assets with donor restrictions | $0 |
| 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 | $454,200 |