Hoffman Institute Supportingfoundation
- Assets
- $23.2m
- Revenue
- $4.5m
- Investments
- $0.0
- Employees
- 0
- Location
- San Rafael, CA
- Founding
- 08/2006
- Data as of
- 12/2023
- EIN
- 20-4801174
Organization Overview
Hoffman Institute Supportingfoundation is located in San Rafael, CA. The organization was established in 2006. According to its NTEE Classification (H11) the organization is classified as: Single Organization Support, under the broad grouping of Medical Research and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Hoffman Institute Supportingfoundation 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 12/2023, Hoffman Institute Supportingfoundation generated $4.5m in total revenue. This represents a relatively dramatic decline in revenue. Over the past 5 years, the organization has seen revenues fall by an average of (10.1%) each year.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2023
Describe the Organization's Mission:
Part 3 - Line 1
THE SPECIFIC AND PRIMARY PURPOSE OF THE CORPORATION IS TO ENGAGE IN CHARITABLE AND EDUCATION ACTIVITIES THAT BENEFITS, PERFORMS THE FUNCTIONS OF, OR CARRIES OUT THE PURPOSE OF THE HOFFMAN INSTITUTE FOUNDATION.
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE KEY ACTIVITIES IN 2023 WERE THE RECEIPT OF PASSTHROUGH GRANT OF $4.5MM FROM HOFFMAN INSTITUTE FOUNDATION TO FUND A $4MM PAYDOWN OF THE BUSINESS LOAN WITH CITY NATIONAL BANK AND SEVERAL CAPITAL IMPROVEMENTS TO THE THE HOFFMAN RETREAT CENTER (HRC) SITE. THESE PROJECTS INCLUDE COMPLETION OF THE ALL SITE GENERATOR, STRUCTURAL IMPROVEMENTS TO THE CLASSROOMS, ROADWAYS, ELECTRICAL AND LODGING FACILITIES. THE SITE WAS RENTED BY THE HOFFMAN INSTITUTE FOUNDATION AS AN INTERIM RETREAT SITE FOLLOWING THE FIRE LOSS OF WHITE SULPHUR SPRINGS IN SEPTEMBER 2020. IMPROVEMENTS TO THIS 194 ACRE SITE ENABLES THE FOUNDATION TO INCREASE OPERATIONAL CAPACITY.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Charles Ingrasci President/chairman | OfficerTrustee | 1 | $0 |
Bernard Tarr Vice President/treasurer | OfficerTrustee | 0.3 | $0 |
Sharon Roe Secretary | OfficerTrustee | 0.3 | $0 |
Cort Schwanebeck Director | Trustee | 0.3 | $0 |
Rich Cerick Director | Trustee | 0.3 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Structural Concepts Construction Services | 12/30/23 | $317,888 |
Oak Grove Construction Construction Services | 12/30/23 | $279,413 |
Coblentz Patch Duff & Bass Llp Legal Services | 12/30/23 | $117,205 |
Maus Electric Electrician Services | 12/30/23 | $115,569 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $4,500,000 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $0 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $4,500,000 |
| Total Program Service Revenue | $15,000 |
| Investment income | $8,188 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $15,000 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $4,538,188 |
| 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. | $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 | $126,536 |
| Fees for services: Accounting | $6,675 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $13,500 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $0 |
| Office expenses | $15,000 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $20,144 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $561,610 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $358,682 |
| Insurance | $1,727 |
| All other expenses | $0 |
| Total functional expenses | $1,103,874 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $56,798 |
| Savings and temporary cash investments | $1,054,309 |
| 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 | $22,131,685 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $23,242,792 |
| Accounts payable and accrued expenses | $8,779 |
| 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 | $6,000,000 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $0 |
| Total liabilities | $6,008,779 |
| Net assets without donor restrictions | $17,234,013 |
| 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 | $23,242,792 |