Hemp Innovations Foundation is located in Washington, DC. According to its NTEE Classification (B02) the organization is classified as: Management & Technical Assistance, under the broad grouping of Education and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Hemp Innovations 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, Hemp Innovations Foundation generated $30.1k in total revenue. This organization has experienced exceptional growth, as over the past 2 years, it has increased revenue by an average of 73.3% each year . All expenses for the organization totaled $15.1k during the year ending 12/2022. 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 ORGANIZATION'S PRIMARY PURPOSE IS TO PRODUCE SCIENTIFIC AND EDUCATIONAL PROGRESS AROUND THE PRODUCTION AND MANUFACTURING OF HEMP AND HEMP PRODUCTS
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE ORGANIZATION JUST STARTED IN 2021 AND HAD NO SPECIFIC PROGRAM SERVICE ACCOMPLISHMENTS OUTSIDE OF THE OPERATION BEGINNING OF ITS WORK
HEMP INNOVATIONS FOUNDATION A 501(C)3 NON-PROFIT HAS FUNDED A RESEARCH PROJECT CALLED HEMP RECYCLES. THIS RESEARCH WILL PURSUE RECYCLABILITY TESTING OF HEMP FIBERS USED FOR PAPER MAKING. THE GOAL IS TO COLLECT DATA THAT WILL DETERMINE POTENTIAL LONG-TERM ENVIRONMENTAL IMPACTS OF USING HEMP-BASED PAPER RATHER THAN RELYING ON WOOD FIBER PAPERS THAT PERPETUATE PRACTICES LEADING TO DEFORESTATION AND DISRUPTION OF ECOSYSTEMS. IT IS OFTEN REPEATED THAT HEMP PAPER CAN BE RECYCLED UP TO 8 TIMES, COMPARED TO JUST 3 TIMES FOR PAPER MADE FROM WOOD PULP. BUT IS THAT ACTUALLY TRUE? WE ARE GOING TO FIND OUT. THE RESEARCH WILL BE CONDUCTED WITH A COLLABORATION WITH WESTERN MICHIGAN UNIVERSITY (WMU) THROUGH THEIR PILOT RECYCLING PROGRAM. THE LEAD CONSULTANT AND DIRECTOR OF WMU'S PAPER PILOT PLANTS, LON PSCHIGODA, WILL CONDUCT THE MOST EFFECTIVE STUDIES TO DETERMINE THE VIABILITY OF HEMP FIBER PAPER PULP VERSUS THE TRADITIONAL WOOD PAPER PULP MOST COMMONLY USED TODAY. VARIOUS WOOD PULPS WILL BE TESTED IN TERMS OF THE NUMBER OF CYCLES THEY CAN WITHSTAND AND A PARALLEL SERIES OF TESTS WILL BE DONE WITH HEMP PULP PROVIDED BY HEMP PRESS. THE FINAL RESULTS OF THIS RESEARCH WILL PROVIDE US WITH SCIENTIFIC DATA REGARDING THE DURABILITY OF HEMP FIBER PULP FOR PAPER AND THE IMPLICATIONS OF ITS RECYCLABILITY ON THE ENVIRONMENT AT LARGE. THE PROPOSED STUDY WILL PROVIDE QUANTIFIABLE DATA WHICH WILL BE MADE WIDELY AVAILABLE AND WILL DEMONSTRATE THE ADVANTAGES OF PRESERVING THE TREE CANOPY TO COMBAT CLIMATE CHANGE WHILE PRODUCING A PAPER PRODUCT THAT IS MORE ROBUST, SEQUESTERS CARBON, IS LESS EXPENSIVE, AND CAN BE RECYCLED MORE TIMES THAN TREE-BASED PAPER. "THIS RESEARCH IS THE CULMINATION OF MORE THAN A DECADE OF HEMP PAPER INNOVATION AT HEMP PRESS. OUR AIM IS TO ESTABLISH HEMP AS THE PREEMINENT ALTERNATIVE FIBER NEEDED TO PROTECT AND PRESERVE THE MOST EFFECTIVE AND WIDELY DISTRIBUTED CARBON CAPTURE DEVICE ON EARTH, OUR ANCIENT AND ENDANGERED FORESTS." SAID MATTHEW GLYER, FOUNDER AND CEO OF HEMP PRESS AND EXECUTIVE DIRECTOR OF THE HEMP RECYCLES PROJECT AT ROOT RESEARCH FOUNDATION. "THIS IS AN EXCITING AND TIMELY INVESTIGATION INTO THE POTENTIAL BENEFITS OF AN ALTERNATE FIBER SOURCE (HEMP). WE ARE HONORED TO BE THE CHOSEN TECHNICAL PARTNER FOR THIS STUDY AND VERY MUCH LOOK FORWARD TO THE EXECUTION OF THE STUDY AS WELL THE SHARING OF THE RESULTS. NON-WOOD PULPS ARE CONTINUING TO GROW IN POPULARITY, BUT THERE IS STILL MUCH WE CAN BETTER UNDERSTAND." SAID LON PSCHIGODA, DIRECTOR OF WMU'S PAPER PILOT PLANTS. "THE NHA AND HIF TRULY BELIEVE THIS TYPE OF RESEARCH THAT SEPARATES FACT FROM FICTION IS EXACTLY WHAT THE INDUSTRY NEEDS. HEMP FOR PAPER PRODUCTS HOLDS SO MUCH POTENTIAL AND THIS RESEARCH WILL PROVIDE LONG-TERM BENEFITS WELL BEYOND THE LIFE OF THE PROJECT.", SAID ERICA STARK, EXECUTIVE DIRECTOR OF NATIONAL HEMP ASSOCIATION AND HEMP INNOVATIONS FOUNDATION. THE ULTIMATE GOAL OF THE PROJECT IS TO DEMONSTRATE THE PRACTICALITY AND SUSTAINABILITY OF NON-WOOD HEMP FIBER PAPER AS AN ALTERNATIVE TO WOOD FIBER PAPER, AND TO ESTABLISH REGIONAL HEMP FIBER AND PULP SUPPLY CHAINS WITH LOCAL FARMERS, THEREBY INVIGORATING THE DOMESTIC ECONOMY FROM FIELD TO SHEET.
Name (title) | Role | Hours | Compensation |
---|---|---|---|
Erica Mcbride Executive Director | Trustee | 5 | $0 |
Alex Seleznov Treasurer | Trustee | 1 | $0 |
Geoff Whaling Chairman | Trustee | 30 | $0 |
Faye Coleman Secretary | Trustee | 1 | $0 |
Statement of Revenue | |
---|---|
Federated campaigns | $0 |
Membership dues | $0 |
Fundraising events | $0 |
Related organizations | $15,000 |
Government grants | $0 |
All other contributions, gifts, grants, and similar amounts not included above | $15,050 |
Noncash contributions included in lines 1a–1f | $0 |
Total Revenue from Contributions, Gifts, Grants & Similar | $30,050 |
Total Program Service Revenue | $0 |
Investment income | $0 |
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 | $30,050 |
Statement of Expenses | |
---|---|
Grants and other assistance to domestic organizations and domestic governments. | $0 |
Grants and other assistance to domestic individuals. | $15,000 |
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 | $0 |
Payroll taxes | $0 |
Fees for services: Management | $0 |
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 | $0 |
Fees for services: Other | $0 |
Advertising and promotion | $0 |
Office expenses | $0 |
Information technology | $99 |
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 | $0 |
Interest | $0 |
Payments to affiliates | $0 |
Depreciation, depletion, and amortization | $0 |
Insurance | $0 |
All other expenses | $8 |
Total functional expenses | $15,107 |
Balance Sheet | |
---|---|
Cash—non-interest-bearing | $20,900 |
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 | $0 |
Net Land, buildings, and equipment | $0 |
Investments—publicly traded securities | $0 |
Investments—other securities | $0 |
Investments—program-related | $0 |
Intangible assets | $0 |
Other assets | $0 |
Total assets | $20,900 |
Accounts payable and accrued expenses | $0 |
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 | $0 |
Total liabilities | $0 |
Net assets without donor restrictions | $20,900 |
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 | $20,900 |