Starkey Hearing Foundation
- Assets
- $3.6m
- Revenue
- $1.9m
- Investments
- $0.0
- Employees
- 36
- Location
- Minneapolis, MN
- Founding
- 06/2019
- Data as of
- 12/2021
- EIN
- 36-3297852
Organization Overview
Starkey Hearing Foundation is located in Minneapolis, MN. The organization was established in 2019. According to its NTEE Classification (G42) the organization is classified as: Ear & Throat Diseases, under the broad grouping of Voluntary Health Associations & Medical Disciplines and related organizations. As of 12/2021, Starkey Hearing Foundation employed 36 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Starkey Hearing 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, Starkey Hearing Foundation generated $1.9m in total revenue. This represents a relatively dramatic decline in revenue. Over the past 7 years, the organization has seen revenues fall by an average of (31.7%) each year. All expenses for the organization totaled $993.9k during the year ending 12/2021. As we would expect to see with falling revenues, expenses have declined by (36.9%) per year over the past 7 years. You can explore the organizations financials more deeply in the financial statements section below.
Since 2014, Starkey Hearing Foundation has awarded 79 individual grants totaling $7,094,607. 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
INTERNATIONAL PROGRAM - DUE TO THE CONSEQUENCES OF THE GLOBAL PANDEMIC, IN 2021 OUR FOUNDATION NO LONGER TRAVELED INTERNATIONALLY TO CONDUCT HEARING HEALTHCARE MISSIONS. INSTEAD, WE RELIED ON OUR LOCAL PARTNERS, GOVERNMENT AGENCIES AND VOLUNTEERS WHO WERE ABLE TO SUPPORT PATIENTS THROUGH AFTERCARE SERVICES IN THEIR COUNTRIES. DURING THE PANDEMIC, OUR FOUNDATION CONTINUED TO PROVIDE SUPPORT TO OUR INTERNATIONAL PARTNERS, NGOS AND VOLUNTEERS WITH SUPPLIES. THE STARKEY HEARING INSTITUTE IN LUSAKA, ZAMBIA, REMAINED OPEN FOR STUDENTS TO CONTINUE THEIR STUDIES. THE ACCREDITED, PROFESSIONAL TRAINING PROGRAM IS ADVANCING THE NEED OF EAR AND HEARING HEALTHCARE PROFESSIONALS TO ADDRESS THE DIRE SHORTAGE OF EAR AND HEARING PROFESSIONALS IN AFRICA AND ACROSS THE GLOBE. THE CURRICULUM INCLUDES THE HANDS-ON INTENSIVE WFA COMMUNITY-BASED HEARING HEALTHCARE PROGRAM.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Cindy Menges VP Of Advancement/secretary | 3 | $0 | |
Grace Owens Secretary | 3 | $0 | |
Elizabeth Tulach Vp/vice Chair/treasurer | 3 | $0 | |
Richard Brown President/board Chair | 20 | $0 | |
Bob Cohen Director | 3 | $0 | |
Gyl Kasewurm Director | 3 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Trinity Institues Of Health Sciences | 12/30/19 | $510,842 |
Entourage Events Group | 12/30/19 | $695,887 |
Fijan Design | 12/30/19 | $285,901 |
Red Rocker Touring | 12/30/19 | $249,127 |
Ups | 12/30/19 | $150,043 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $1,871,950 |
| Interest on Savings | $0 |
| Dividends & Interest | $56 |
| Net Rental Income | $0 |
| Net Gain on Sale of Assets | $0 |
| Capital Gain Net Income | $0 |
| Net ST Capital Gain | $0 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $0 |
| Other Income | $15,545 |
| Total Revenue | $1,887,551 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $57,231 |
| Other employee salaries and wages | $0 |
| Pension plans, employee benefits | $0 |
| Interest | $0 |
| Taxes | $14,872 |
| Depreciation | $42,768 |
| Occupancy | $12,891 |
| Travel, conferences, and meetings | $54,526 |
| Printing and publications | $1,628 |
| Other expenses | $290,832 |
| Total operating and administrative expenses | $993,912 |
| Contributions, gifts, grants paid | $0 |
| Total expenses and disbursements | $993,912 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $1,603,287 |
| Savings and temporary cash investments | $0 |
| 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 | $939,922 |
| Prepaid expenses and deferred charges | $48,046 |
| Net Investments - land, buildings, equipment | $0 |
| Investments—mortgage loans | $0 |
| Investments—other | $0 |
| Net Land, buildings, and equipment | $969,565 |
| Other assets | $0 |
| Total assets | $3,560,820 |
| Accounts payable and accrued expenses | $6,467 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Mortgages and other notes payable | $47,996 |
| Other liabilities | $0 |
| Total liabilities | $54,463 |
Grants Awarded
Over the last fiscal year, Starkey Hearing Foundation has awarded $325,153 in support to 4 organizations.
| Grant Recipient | Amount |
|---|---|
EASTERN CONGO INITIATIVE PURPOSE: HELPED ECI EXPAND AND CONTINUE PARTNERSHIPS WITH 13 CONGOLESE ORGANIZATIONS IN THE FIELDS OF ECONOMIC DEVELOPMENT, EDUCATION AND MATERNAL AND NEWBORN CHILD HEALTH. THE GRANT PROVIDED BOTH HEALTH AND HEARING SOLUTIONS. | $125,000 |
UNIVERISTY OF MINNESOTA FOUNDATION PURPOSE: INTERNATIONAL HEARING FOUNDATION - ONGOING RESEARCH ON ETIOLOGY AND TREATMENTS OF EAR RELATED PROBLEMS. | $100,000 |
GOVERNMENT OF THE REPUBLIC OF UGANDA PURPOSE: PURCHASED EQUIPMENT FOR WFA COMMUNITY-BASED HEARING HEALTHCARE PROGRAM | $75,153 |
Little Rock, AR PURPOSE: CLINTON GLOBAL INITIATIVE | $25,000 |
Grants Recieved
Over the last fiscal year, we have identified 5 grants that Starkey Hearing Foundation has recieved totaling $822,115.
| Awarding Organization | Amount |
|---|---|
Delta Zeta Foundation Oxford, OH PURPOSE: SERVICE | $499,960 |
Minneapolis Foundation Minneapolis, MN PURPOSE: HEALTH | $301,155 |
American Endowment Foundation Hudson, OH PURPOSE: DISEASE/DISORDER | $15,000 |
Lewis J And Clelia M Serventi Family Foundation Perry, NY PURPOSE: GENERAL FUNDS DONATION | $5,000 |
Lmac Foundation Inc Delaplane, VA PURPOSE: CHARITY | $1,000 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Starkey Hearing Foundation Minneapolis, MN | $3,560,820 | $1,887,551 |
Council For Accreditation In Occupational Hearing Conservation Milwaukee, WI | $1,155,161 | $517,570 |
Minnesota Lions Hearing Foundation Inc Green Isle, MN | $1,128,549 | $763,615 |
Iowa Speech And Hearing Association Des Moines, IA | $121,744 | $0 |
Iowa Hearing Association West Des Moines, IA | $113,733 | $0 |
Minnesota Academy Of Audiology Milwaukee, WI | $119,041 | $0 |