Homer Incentive Trust Inc
- Assets
- $3.0k
- Revenue
- $3.5k
- Investments
- $0.0
- Employees
- 0
- Location
- Homer, AK
- Founding
- 03/1994
- Data as of
- 12/2021
- EIN
- 92-0141200
Organization Overview
Homer Incentive Trust Inc is located in Homer, AK. The organization was established in 1994. 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. Homer Incentive Trust 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 12/2021, Homer Incentive Trust Inc generated $3.5k in total revenue. This represents relatively stable growth, over the past 4 years the organization has increased revenue by an average of 7.0% each year. All expenses for the organization totaled $2.8k during the year ending 12/2021. While expenses have increased by 1.9% 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.
Form
990PF
Mission & Program ActivityExcerpts From the 990PF Filing
TAX YEAR
2021
Describe the Organization's Program Activity:
Part 3 - Line 4a
PROVIDING ASSISTANCE AND FINANCIAL SUPPORT TO YOUNG PEOPLE TO HELP THEM WITH COLLEGE TUITION AND OTHER SUPPORT.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Martty Zeller Director, President | 10 | $0 | |
Susan Amundson Director, Vice-President | 10 | $0 | |
Luanna Stovall Director, Vice-President | 10 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $3,539 |
| Interest on Savings | $0 |
| Dividends & Interest | $0 |
| Net Rental Income | $0 |
| Net Gain on Sale of Assets | $0 |
| Capital Gain Net Income | $0 |
| Net ST Capital Gain | $0 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $0 |
| Other Income | $0 |
| Total Revenue | $3,539 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $0 |
| Other employee salaries and wages | $0 |
| Pension plans, employee benefits | $0 |
| Interest | $0 |
| Taxes | $100 |
| Depreciation | $0 |
| Occupancy | $0 |
| Travel, conferences, and meetings | $0 |
| Printing and publications | $0 |
| Other expenses | $0 |
| Total operating and administrative expenses | $500 |
| Contributions, gifts, grants paid | $2,346 |
| Total expenses and disbursements | $2,846 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $2,979 |
| Savings and temporary cash investments | $0 |
| 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 | $2,979 |
| 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, Homer Incentive Trust Inc has awarded $2,346 in support to 3 organizations.
| Grant Recipient | Amount |
|---|---|
HOMER FOOD BANK PURPOSE: FUNDS PROVIDED TO SUPPORT COMMUNITY | $1,000 |
KBFPC PURPOSE: FUNDS DONATED FOR PROVIDING EDUCATION AND FOOD TO STUDENTS. | $1,000 |
STUDENT EDUCATION ASSISTANCE PURPOSE: FUNDS PROVIDED USED TO PAY FOR COLLEGE CLASSES OF HIGHSCHOOL STUDENTS AND FOR PERSONAL NEEDS TO HELP STUDENTS STAY IN SCHOOL. | $346 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
The Russell Family Foundation Gig Harbor, WA | $102,077,149 | $6,093,203 |
Gary E Milgard Family Foundation - Mark Tacoma, WA | $117,467,534 | $7,345,386 |
The Sarkowsky Family Charitable Foundation Seattle, WA | $565,957 | $3,012,734 |
David And Amy Fulton Foundation Seattle, WA | $63,197,245 | $1,065,965 |
Helen E Snedden Foundation Fairbanks, AK | $8,832,360 | $5,012,483 |
Sahsen Foundation Seattle, WA | $120,057,207 | $11,828,075 |
Vatheuer Family Foundation Inc Hobart, WA | $0 | $3,733,677 |
Crystal Spring Foundation Seattle, WA | $0 | $2,197,015 |
Mooney Charitable Trust Seattle, WA | $0 | $134,132 |
Hoveida Family Foundation Bainbridge Island, WA | $72,514,243 | $1,071,136 |
Brotman Family Foundation Seattle, WA | $0 | $0 |
Ellison Foundation Bellevue, WA | $46,870,043 | $2,052,010 |