Honeywell Foundation Inc
- Assets
- $96.4m
- Revenue
- $11.1m
- Investments
- $3.6k
- Employees
- 153
- Location
- Wabash, IN
- Founding
- 07/1984
- Data as of
- 09/2021
- EIN
- 35-0390706
Organization Overview
Honeywell Foundation Inc is located in Wabash, IN. The organization was established in 1984. According to its NTEE Classification (T70) the organization is classified as: Federated Giving Programs, under the broad grouping of Philanthropy, Voluntarism & Grantmaking Foundations and related organizations. As of 09/2023, Honeywell Foundation Inc employed 153 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Honeywell 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 09/2021, Honeywell Foundation Inc generated $11.1m in total revenue. This organization has experienced exceptional growth, as over the past 7 years, it has increased revenue by an average of 11.1% each year . All expenses for the organization totaled $6.8m during the year ending 09/2021. 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
2021
Describe the Organization's Mission:
Part 3 - Line 1
THE HONEYWELL FOUNDATION PROVIDES DIVERSE PROGRAMMING INCLUDING YOUTH ARTS EDUCATION OFFERINGS; VISUAL ART WORKSHOPS, EXHIBITS & COMPETITIONS; & PERFORMING ARTS OPPORTUNITIES.
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE FOUNDATION OWNS AND OPERATES THE HONEYWELL CENTER, AN ARTS AND ENTERTAINMENT FACILITY THAT INCLUDES A 1,500-SEAT THEATER, AN ART GALLERY, ROLLER SKATING RINK, MEETING ROOMS AND A RESTAURANT FACILITY IN DOWNTOWN WABASH, INDIANA. THE FOUNDATION ALSO OWNS AND OPERATES EAGLES THEATRE, WHICH FEATURES MOVIES, LIVE ENTERTAINMENT MUSIC/THEATER EDUCATION OFFERINGS, MEETING ROOMS AND CATERING SERVICES; HONEYWELL HOUSE, A CULTURAL CENTER THAT INCORPORATES CONCERTS, COMMUNITY LECTURES, FINE ART AND DINING; CHARLEY CREEK GARDENS, AN URBAN GARDEN DEDICATED TO THE APPRECIATION OF PLANTS AND HORTICULTURE; THE DR. JAMES FORD HISTORIC HOME, A HOUSE MUSEUM SET IN THE MID-1800'S; THE 13-24 DRIVE IN, A REGIONAL DRIVE IN MOVIE THEATER; AND THE CLARKSON HOUSE, A RESTORED HOME AVAILABLE FOR OVERNIGHT STAYS, AS WELL AS DAYTIME RENTAL FOR PRIVATE GATHERINGS. PRIMARY ACTIVITIES OF THE FOUNDATION INCLUDE PROVIDING DIVERSE AND ENRICHING PROGRAMS AND ARTS IN EDUCATION INITIATIVES FOR YOUTH. THE FOUNDATION'S PRIMARY SOURCES OF REVENUE AND SUPPORT ARE FROM CONTRIBUTIONS, TICKET SALES, FOOD SERVICE AND EARNINGS FROM INVESTMENTS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Tod Minnich President/ceo | OfficerTrustee | 48 | $287,892 |
Kyle Dubois Chief Operating Officer | Officer | 48 | $161,762 |
Cathy Gatchel Chief Development Officer | Officer | 48 | $156,734 |
Angie Beauchamp Director | Trustee | 2 | $0 |
Richard Church Board Vice Chair | OfficerTrustee | 2 | $0 |
Phyllis Downey Board Secretary | OfficerTrustee | 2 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Trash Tours Inc Live Performance | 9/29/23 | $112,916 |
Sosume Touring Inc Live Performance | 9/29/23 | $151,128 |
The Cleaning Company Janitorial | 9/29/23 | $121,114 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Total Revenue from Contributions, Gifts, Grants & Similar | $3,952,382 |
| Investment income | $347,075 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $219,633 |
| Net Gain/Loss on Asset Sales | $4,716,090 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $11,061,690 |
| Statement of Expenses | |
|---|---|
| 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. | $545,597 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $2,028,769 |
| Pension plan accruals and contributions | $187,049 |
| Other employee benefits | $342,677 |
| Payroll taxes | $194,888 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $6,834 |
| Fees for services: Accounting | $25,717 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $15,361 |
| Fees for services: Other | $1,028,583 |
| Advertising and promotion | $171,281 |
| Office expenses | $54,545 |
| Information technology | $84,696 |
| Royalties | $46,341 |
| Occupancy | $692,704 |
| Travel | $13,086 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $17,892 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $904,771 |
| Insurance | $79,386 |
| All other expenses | $0 |
| Total functional expenses | $6,786,931 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $4,425 |
| Savings and temporary cash investments | $1,542,539 |
| Pledges and grants receivable | $1,578,547 |
| Accounts receivable, net | $105,151 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $69,598 |
| Inventories for sale or use | $21,693 |
| Prepaid expenses and deferred charges | $244,771 |
| Investments—publicly traded securities | $66,142,816 |
| Investments—other securities | $3,558 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $3,115,347 |
| Total assets | $96,441,620 |
| Accounts payable and accrued expenses | $757,350 |
| Grants payable | $0 |
| Deferred revenue | $1,130,971 |
| 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 | $0 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $1,729,902 |
| Total liabilities | $3,618,223 |
| Net assets without donor restrictions | $25,680,126 |
| Net assets with donor restrictions | $67,143,271 |
| Capital stock or trust principal, or current funds | $0 |
| Paid-in or capital surplus, or land, building, or equipment fund | $0 |
| Total liabilities and net assets/fund balances | $92,823,397 |
Grants Awarded
Over the last fiscal year, Honeywell Foundation Inc has awarded $20,000 in support to 2 organizations.
| Grant Recipient | Amount |
|---|---|
THE EDUCATION WE ALL DESERVE FOUNDATION INC PURPOSE: QUARTERLY CONTRIBUTIONS | $10,000 |
WABASH AREA COMMUNITY THEATER PURPOSE: MARY POPPINS PLAY | $10,000 |