Hoag Foundation
- Assets
- $123.0m
- Revenue
- $6.9m
- Investments
- $89.9m
- Employees
- 0
- Location
- Long Beach, CA
- Founding
- 08/1991
- Data as of
- 12/2020
- EIN
- 95-4315096
Organization Overview
Hoag Foundation is located in Long Beach, CA. The organization was established in 1991. 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. Hoag 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 12/2020, Hoag Foundation generated $6.9m in total revenue. This represents a relatively dramatic decline in revenue. Over the past 6 years, the organization has seen revenues fall by an average of (36.0%) each year. All expenses for the organization totaled $5.5m during the year ending 12/2020. You can explore the organizations financials more deeply in the financial statements section below.
Since 2015, Hoag Foundation has awarded 183 individual grants totaling $21,578,871. 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 |
|---|---|---|---|
Robert W Latimer Secretary/treasurer | 5 | $50,000 | |
Douglas K Freeman President | 5 | $50,000 | |
Dr Darren Freeman Director | 5 | $25,000 | |
Dr Martha Bernadett Director | 5 | $25,000 | |
Whit Latimer Director | 5 | $25,000 | |
Mark Latimer Director | 5 | $25,000 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $0 |
| Interest on Savings | $45,527 |
| Dividends & Interest | $1,626,553 |
| Net Rental Income | $250,720 |
| Net Gain on Sale of Assets | $4,415,793 |
| Capital Gain Net Income | $4,415,793 |
| Net ST Capital Gain | $0 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $0 |
| Other Income | $1,319 |
| Total Revenue | $6,910,746 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $225,000 |
| Other employee salaries and wages | $0 |
| Pension plans, employee benefits | $0 |
| Interest | $0 |
| Taxes | $93,852 |
| Depreciation | $570,834 |
| Occupancy | $0 |
| Travel, conferences, and meetings | $0 |
| Printing and publications | $0 |
| Other expenses | $1,695 |
| Total operating and administrative expenses | $1,529,808 |
| Contributions, gifts, grants paid | $4,020,000 |
| Total expenses and disbursements | $5,549,808 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $1,728,524 |
| 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 | $200,304 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $0 |
| Net Investments - land, buildings, equipment | $28,010,000 |
| Investments—mortgage loans | $0 |
| Investments—other | $89,942,792 |
| Net Land, buildings, and equipment | $0 |
| Other assets | $3,095,750 |
| Total assets | $122,977,370 |
| Accounts payable and accrued expenses | $9,000 |
| Grants payable | $1,358,334 |
| 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 | $1,367,334 |
Grants Awarded
Over the last fiscal year, Hoag Foundation has awarded $4,020,000 in support to 51 organizations.
| Grant Recipient | Amount |
|---|---|
ORANGE COUNTY MUSIC & DANCE PURPOSE: COMMUNITY PROGRAMS | $1,010,000 |
THE MOLINA FOUNDATION PURPOSE: COMMUNITY PROGRAMS | $300,000 |
PACIFIC SYMPHONY PURPOSE: COMMUNITY PROGRAMS | $150,000 |
CHARITABLE VENTURES PURPOSE: COMMUNITY PROGRAMS | $125,000 |
Long Beach, CA PURPOSE: COMMUNITY PROGRAMS | $120,000 |
Long Beach, CA PURPOSE: COMMUNITY PROGRAMS | $120,000 |
Grants Recieved
Over the last fiscal year, we have identified 1 grants that Hoag Foundation has recieved totaling $12,000.
| Awarding Organization | Amount |
|---|---|
Devto Support Foundation Newport Beach, CA PURPOSE: GENERAL OPERATING SUPPORT | $12,000 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Mimi And Peter Haas Fund San Francisco, CA | $0 | $22,825,724 |
William K Bowes Jr Foundation San Francisco, CA | $0 | $15,233,813 |
Collins Foundation Portland, OR | $249,591,840 | $5,256,313 |
Walter And Elise Haas Fund San Francisco, CA | $290,773,419 | $45,613,238 |
Lisa And Douglas Goldman Fund San Francisco, CA | $314,443,125 | $25,968,602 |
Wood-Claeyssens Foundation Santa Barbara, CA | $112,450,224 | $19,490,467 |
The Saban Family Foundation Los Angeles, CA | $4,126,107 | $4,076,196 |
Freeport-Mcmoran Copper & Gold Foundation Phoenix, AZ | $2,326,146 | $18,600,000 |
California Winegrowers Foundation Napa, CA | $3,681,527 | $16,676,626 |
Multi-Union Security Trust Fund Glendale, CA | $14,944,884 | $16,888,135 |
Helen And Wil Webster Foundation Arcadia, CA | $240,695,845 | $9,736,121 |
Dart-L Foundation Los Angeles, CA | $255,386,011 | $40,281,490 |