Herbert Hoover Foundation Inc
- Assets
- $4.4m
- Revenue
- $159.4k
- Investments
- $4.4m
- Employees
- 0
- Location
- Cedar Rapids, IA
- Founding
- 11/1960
- Data as of
- 12/2022
- EIN
- 13-6101789
Organization Overview
Herbert Hoover Foundation Inc is located in Cedar Rapids, IA. The organization was established in 1960. 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. Herbert Hoover Foundation 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 12/2022, Herbert Hoover Foundation Inc generated $159.4k in total revenue. This represents a relatively dramatic decline in revenue. Over the past 7 years, the organization has seen revenues fall by an average of (4.0%) each year. All expenses for the organization totaled $267.5k during the year ending 12/2022. You can explore the organizations financials more deeply in the financial statements section below.
Since 2016, Herbert Hoover Foundation Inc has awarded 18 individual grants totaling $1,280,000. 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 |
|---|---|---|---|
Darrel Morf Executive Direc | 1 | $15,930 | |
Charles G Palm Trustee | 1 | $0 | |
Margaret Hoover Trustee | 1 | $0 | |
Jeremiah Milbank III Trustee | 1 | $0 | |
Robert J Swain Trustee | 1 | $0 | |
Paul L Davies III Chair/pres/trst | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $0 |
| Interest on Savings | $0 |
| Dividends & Interest | $122,992 |
| Net Rental Income | $0 |
| Net Gain on Sale of Assets | $36,431 |
| Capital Gain Net Income | $36,431 |
| Net ST Capital Gain | $0 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $0 |
| Other Income | $0 |
| Total Revenue | $159,423 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $15,930 |
| Other employee salaries and wages | $0 |
| Pension plans, employee benefits | $0 |
| Interest | $0 |
| Taxes | -$11,077 |
| Depreciation | $0 |
| Occupancy | $0 |
| Travel, conferences, and meetings | $2,034 |
| Printing and publications | $0 |
| Other expenses | $1,531 |
| Total operating and administrative expenses | $11,518 |
| Contributions, gifts, grants paid | $256,000 |
| Total expenses and disbursements | $267,518 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $39,086 |
| 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 | $7,306 |
| Total assets | $4,437,228 |
| Accounts payable and accrued expenses | $1,683 |
| 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 | $8,600 |
| Total liabilities | $10,283 |
Grants Awarded
Over the last fiscal year, Herbert Hoover Foundation Inc has awarded $256,000 in support to 3 organizations.
| Grant Recipient | Amount |
|---|---|
BOYS GIRLS CLUBS OF AMERICA PURPOSE: GENERAL OPERATING BUDGET | $15,000 |
HOOVER PRESIDENTIAL FOUNDATION PURPOSE: GENERAL OPERATING BUDGET $5,000, AND CAPITAL CAMPAIGN $136,000. | $141,000 |
HOOVER INSTITUTION PURPOSE: SUPPORT OF LIBRARY AND ARCHIVES | $100,000 |