Erik Hite Foundation Inc
- Assets
- $493.1k
- Revenue
- $977.6k
- Investments
- $0.0
- Employees
- 30
- Location
- Tucson, AZ
- Founding
- 03/2011
- Data as of
- 06/2023
- EIN
- 27-2023911
Organization Overview
Erik Hite Foundation Inc is located in Tucson, AZ. The organization was established in 2011. According to its NTEE Classification (P33) the organization is classified as: Child Day Care, under the broad grouping of Human Services and related organizations. As of 06/2023, Erik Hite Foundation Inc employed 30 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Erik Hite 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 06/2023, Erik Hite Foundation Inc generated $977.6k in total revenue. This organization has experienced exceptional growth, as over the past 8 years, it has increased revenue by an average of 11.9% each year . All expenses for the organization totaled $912.3k during the year ending 06/2023. While expenses have increased by 14.0% per year over the past 8 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
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2023
Describe the Organization's Mission:
Part 3 - Line 1
CHILD CARE & FAMILY OUTREACH PROGRAMS SUPPORTING FIRST RESPONDERS.
Describe the Organization's Program Activity:
Part 3 - Line 4a
CHILD DEVELOPMENT CENTER - SEE SCHEDULE O
IN FISCAL YEAR 2022-2023, THE ERIK HITE FOUNDATION ACTED AS A FISCAL SPONSOR TO COLLECT CONTRIBUTIONS FOR GYM RENOVATION AT THE TUCSON POLICE DEPARTMENT RINCON SUBSTATION. CONTRIBUTIONS WERE COLLECTED AND THE FOUNDATION PAID ALL EXPENSES DIRECTLY TO VENDORS. A TOTAL OF $49,575 WAS SPENT FOR THESE RENOVATIONS. THE FOUNDATION ACTED AS A FISCAL SPONSOR FOR A $10,000 GRANT TO HALEY'S HEROES FOUNDATION WHICH EXISTS TO FIND AND FUND A CURE FOR BATTEN DISEASE.
NO BELT REQUIRED - SEE SCHEDULE O
CAMPS AND WORKSHOPS - SEE SCHEDULE O
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Lori Reid Interim Secretary, Admin Asst | OfficerTrustee | 34 | $30,594 |
Jerry Brown Board Member | Trustee | 0.5 | $0 |
Taylor Fulkerson Board Member | Trustee | 0.5 | $0 |
Claudia Levin Board Member | Trustee | 0.5 | $0 |
Jennifer Mcmahon Board Member | Trustee | 0.5 | $0 |
Monica Prieto Board Member | Trustee | 0.5 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $684 |
| Membership dues | $0 |
| Fundraising events | $216,269 |
| Related organizations | $0 |
| Government grants | $264,475 |
| All other contributions, gifts, grants, and similar amounts not included above | $199,340 |
| Noncash contributions included in lines 1a–1f | $8,540 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $680,768 |
| Total Program Service Revenue | $359,145 |
| Investment income | $157 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | -$62,432 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $977,638 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $59,575 |
| Grants and other assistance to domestic individuals. | $8,205 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $29,813 |
| Compensation of current officers, directors, key employees. | $4,805 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $504,398 |
| Pension plan accruals and contributions | $8,071 |
| Other employee benefits | $17,120 |
| Payroll taxes | $40,616 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $805 |
| Fees for services: Accounting | $3,450 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $108 |
| Fees for services: Other | $11,939 |
| Advertising and promotion | $7,408 |
| Office expenses | $17,134 |
| Information technology | $5,167 |
| Royalties | $0 |
| Occupancy | $134,095 |
| Travel | $50 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $8,992 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $13,253 |
| Insurance | $12,386 |
| All other expenses | $0 |
| Total functional expenses | $912,272 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $40,601 |
| Savings and temporary cash investments | $225,970 |
| 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 | $61,082 |
| Investments—publicly traded securities | $158,459 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $7,000 |
| Total assets | $493,112 |
| Accounts payable and accrued expenses | $16,990 |
| 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 | $5,375 |
| Secured mortgages and notes payable | $0 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $965 |
| Total liabilities | $23,330 |
| Net assets without donor restrictions | $469,782 |
| 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 | $493,112 |
Grants Awarded
Over the last fiscal year, Erik Hite Foundation Inc has awarded $59,575 in support to 2 organizations.
| Grant Recipient | Amount |
|---|---|
TUCSON POLICE DEPARTMENT PURPOSE: RENOVATION OF GYM AT RINCON SUBSTATION | $49,575 |
HALEY'S HEROES FOUNDATION PURPOSE: FIND AND FUND A CURE FOR BATTEN DISEASE | $10,000 |