Hcs Foundation
- Assets
- $106.0m
- Revenue
- $7.9m
- Investments
- $104.7m
- Employees
- 0
- Location
- Cleveland, OH
- Founding
- 04/1961
- Data as of
- 12/2021
- EIN
- 34-6514235
Organization Overview
Hcs Foundation is located in Cleveland, OH. The organization was established in 1961. 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. Hcs 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 12/2021, Hcs Foundation generated $7.9m in total revenue. This represents a relatively dramatic decline in revenue. Over the past 4 years, the organization has seen revenues fall by an average of (9.5%) each year. All expenses for the organization totaled $9.0m during the year ending 12/2021. You can explore the organizations financials more deeply in the financial statements section below.
Since 2020, Hcs Foundation has awarded 137 individual grants totaling $13,143,030. 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.
Form
990PF
Mission & Program ActivityExcerpts From the 990PF Filing
TAX YEAR
2021
Describe the Organization's Program Activity:
Part 3 - Line 4a
NONE
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
L Thomas Hiltz Chairman, Trustee | 24.72 | $296,297 | |
Allison H Kropp Secretary, Trustee | 28.17 | $212,283 | |
Francie S Hiltz Vice Chairman, Trustee | 14.03 | $174,842 | |
Cate Masla Executive Asst /offi | 29.75 | $120,842 | |
Peter S Hiltz Trustee | 16.58 | $119,931 | |
Michael W Schott Treasurer, Trustee | 13.78 | $107,554 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Charles Schwab & Co | 12/30/21 | $388,477 |
Bahl & Gaynor Inc | 12/30/21 | $75,000 |
Wm P Cimino Human Capital Advisor Llc | 12/30/21 | $156,528 |
Pricewaterhousecoopers Llp | 12/30/21 | $81,570 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $0 |
| Interest on Savings | $12,040 |
| Dividends & Interest | $3,892,376 |
| Net Rental Income | $0 |
| Net Gain on Sale of Assets | $3,997,989 |
| Capital Gain Net Income | $3,997,989 |
| Net ST Capital Gain | $0 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $0 |
| Other Income | $0 |
| Total Revenue | $7,902,405 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $910,907 |
| Other employee salaries and wages | $203,134 |
| Pension plans, employee benefits | $0 |
| Interest | $0 |
| Taxes | $185,553 |
| Depreciation | $126 |
| Occupancy | $61,706 |
| Travel, conferences, and meetings | $2,785 |
| Printing and publications | $0 |
| Other expenses | $38,430 |
| Total operating and administrative expenses | $2,123,732 |
| Contributions, gifts, grants paid | $6,908,095 |
| Total expenses and disbursements | $9,031,827 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $121,826 |
| Savings and temporary cash investments | $1,114,675 |
| 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 | $6,960 |
| Net Land, buildings, and equipment | $63 |
| Other assets | $38,413 |
| Total assets | $105,976,263 |
| 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 | $2,576 |
| Total liabilities | $2,576 |
Grants Awarded
Over the last fiscal year, Hcs Foundation has awarded $6,908,095 in support to 73 organizations.
| Grant Recipient | Amount |
|---|---|
Cincinnati, OH PURPOSE: SECOND INSTALLMENT TO SUPPORT THE ANDREW J. BRADY ICON MUSIC CENTER | $500,000 |
Cincinnati, OH PURPOSE: SECOND INSTALLMENT TO SUPPORT CONSTRUCTION OF THE ELEPHANT TREK | $400,000 |
Cincinnati, OH PURPOSE: PURCHASE AND RENOVATION OF THE LAAD HOME FOR WOMEN IN ANDERSON TOWNSHIP | $360,000 |
Cincinnati, OH PURPOSE: SUPPORT THEIR MATH PROGRAM | $350,000 |
Columbus, OH PURPOSE: FINAL INSTALLMENT OF $250,000.00 ALLOCATED TO THE CONSTRUCTION OF THE NEW MILO-GROGAN BOYS AND GIRLS CLUB AND $75,000 ALLOCATED TOWARD OPERATING SUPPORT | $325,000 |
Cincinnati, OH PURPOSE: CROWN CINCINNATI RIDING AND WALKING TRAIL CAMPAIGN | $300,000 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Douglas & Maria Devos Foundation Grand Rapids, MI | $79,921,409 | $9,501,037 |
Lor Foundation Inc West Chester, PA | $352,392,197 | $12,888,892 |
Grable Foundation Pittsburgh, PA | $386,701,292 | $35,946,563 |
Connelly Foundation West Conshohocken, PA | $387,913,026 | $27,891,431 |
Fred F Silk Charitable Foundation Louisville, OH | $0 | $2,703,630 |
Jewish Foundation Of Cincinnati Cincinnati, OH | $344,322,004 | $65,111,190 |
Charles F Kettering Foundation Dayton, OH | $413,895,327 | $17,762,033 |
Jay And Jeanie Schottenstein Foundation Columbus, OH | $12,858,446 | $29,259,001 |
Susquehanna Foundation Bala Cynwyd, PA | $640,733,550 | $61,262,452 |
The Lozick Family Foundation Pepper Pike, OH | $264,438,182 | $44,457,050 |
Humana Foundation Inc Louisville, KY | $467,311,073 | $9,744,567 |
Dow Company Foundation Bay City, MI | $175,531,548 | $110,489,699 |