Hoover Foundation
- Assets
- $37.4m
- Revenue
- $3.1m
- Investments
- $36.3m
- Employees
- 0
- Location
- Columbus, OH
- Founding
- 07/1947
- Data as of
- 12/2023
- EIN
- 34-6510994
Organization Overview
Hoover Foundation is located in Columbus, OH. The organization was established in 1947. 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. Hoover 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 12/2023, Hoover Foundation generated $3.1m in total revenue. The organization has seen a slow decline revenue. Over the past 9 years, revenues have fallen by an average of (2.4%) each year. All expenses for the organization totaled $4.2m during the year ending 12/2023. You can explore the organizations financials more deeply in the financial statements section below.
Since 2015, Hoover Foundation has awarded 563 individual grants totaling $24,132,682. 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 |
|---|---|---|---|
Huntington National Bank Trustee | 4 | $167,848 | |
Lawrence R Hoover Chairperson | 4 | $0 | |
Timothy D Schiltz Committee Member | 1 | $0 | |
Charles H Hoover Committee Member | 1 | $0 | |
Timothy R Hoover Committee Member | 1 | $0 | |
Terry A Moore Committee Member | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $500 |
| Interest on Savings | $0 |
| Dividends & Interest | $1,138,571 |
| Net Rental Income | $0 |
| Net Gain on Sale of Assets | $1,923,156 |
| Capital Gain Net Income | $1,923,156 |
| Net ST Capital Gain | $0 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $0 |
| Other Income | $14,600 |
| Total Revenue | $3,076,827 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $167,848 |
| Other employee salaries and wages | $0 |
| Pension plans, employee benefits | $0 |
| Interest | $0 |
| Taxes | $37,946 |
| Depreciation | $0 |
| Occupancy | $0 |
| Travel, conferences, and meetings | $0 |
| Printing and publications | $0 |
| Other expenses | $7,066 |
| Total operating and administrative expenses | $301,601 |
| Contributions, gifts, grants paid | $3,898,865 |
| Total expenses and disbursements | $4,200,466 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $1,095,134 |
| 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 | $586,220 |
| Net Land, buildings, and equipment | $0 |
| Other assets | $0 |
| Total assets | $37,354,224 |
| 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, Hoover Foundation has awarded $3,898,865 in support to 70 organizations.
| Grant Recipient | Amount |
|---|---|
AKRON CHILDRENS HOSPITAL PURPOSE: GENERAL SUPPORT | $75,000 |
AMERICAN RED CROSS PURPOSE: GENERAL SUPPORT | $30,000 |
HERITAGE CHRISTIAN SCHOOL PURPOSE: GENERAL SUPPORT | $41,600 |
UNITED WAY WORLDWIDE PURPOSE: GENERAL SUPPORT | $365,000 |
AMERICAN HEART ASSOCIATION PURPOSE: GENERAL SUPPORT | $10,000 |
GREATER STARK COUNTY URBAN LEAGUE PURPOSE: GENERAL SUPPORT | $10,000 |