Starkey Hearing Foundation
- Assets
- $2.9m
- Revenue
- $2.2m
- Investments
- $615.0k
- Employees
- 36
- Location
- Minneapolis, MN
- Founding
- 06/2019
- Data as of
- 12/2023
- 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 12/2023, 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 12/2023, Starkey Hearing Foundation generated $2.2m in total revenue. This represents a relatively dramatic decline in revenue. Over the past 9 years, the organization has seen revenues fall by an average of (24.5%) each year. All expenses for the organization totaled $2.2m during the year ending 12/2023. As we would expect to see with falling revenues, expenses have declined by (23.7%) per year over the past 9 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
2023
Describe the Organization's Program Activity:
Part 3 - Line 4a
IN 2023 THE BOARD OF DIRECTORS OF STARKEY HEARING FOUNDATION APPROVED A TRANSFORMATIVE NEW GOAL: THREE WORLD-CLASS HEARING HEALTH TRAINING PROGRAM AND CENTERS UP AND RUNNING IN THE DEVELOPING WORLD BY 2027. THIS BOLD NEW VISION REFLECTS A SHIFT IN STRATEGY FOR THE FOUNDATION FROM DIRECT SERVICE TO SYSTEMS CHANGE THROUGH EDUCATION, AND CAPACITY BUILDING. IN MAY 2016, THE FOUNDATION MADE HISTORY WITH THE OPENING OF STARKEY HEARING INSTITUTE IN LUSAKA, ZAMBIA, WITH ONE GOAL IN MIND: TO HELP ADDRESS THE DIRE SHORTAGE OF HEARING HEALTHCARE PROFESSIONALS IN THE REGION. IT IS THE SUCCESS OF THE INSTITUTE IN ZAMBIA THAT INFORMS THE FOUNDATION'S COMMITMENT TO LAUNCH TWO MORE HEARING HEALTHCARE TRAINING PROGRAMS INCLUDING ONE IN PHILIPPINES TO SUPPORT THE ASIA PACIFIC REGION AND ONE IN EL SALVADOR TO BUILD CAPACITY IN THE LATIN AMERICA AND CARIBBEAN REGION IN THE NEXT FIVE YEARS. OUR HEARING HEALTH TRAINING PROGRAM INCLUDES THE FOUNDATION'S COMMUNITY-BASED WIDE FREQUENCY AUDIBILITY (WFA) MODEL.
Get More from Intellispect for FreeCreate a free account to get more data, nonprofit salaries, advanced search and more.
Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Richard Brown President/board Chair | 20 | $0 | |
Gyl Kasewurm Vp/vice Chair | 4 | $0 | |
Cindy Menges VP Of Advancement/secretary | 4 | $0 | |
Grace Owens Secretary | 4 | $0 | |
Bob Cohen Director | 4 | $0 | |
Sandi Young Director | 4 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Entourage Events Group | 12/30/19 | $695,887 |
Trinity Institues Of Health Sciences | 12/30/19 | $510,842 |
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 | $2,156,116 |
| Interest on Savings | $0 |
| Dividends & Interest | $18,860 |
| Net Rental Income | $0 |
| Net Gain on Sale of Assets | -$7,269 |
| Capital Gain Net Income | $0 |
| Net ST Capital Gain | $0 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $0 |
| Other Income | $3,117 |
| Total Revenue | $2,170,824 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $160,385 |
| Other employee salaries and wages | $0 |
| Pension plans, employee benefits | $0 |
| Interest | $0 |
| Taxes | $28,015 |
| Depreciation | $42,087 |
| Occupancy | $12,451 |
| Travel, conferences, and meetings | $208,858 |
| Printing and publications | $9,120 |
| Other expenses | $1,049,167 |
| Total operating and administrative expenses | $2,176,522 |
| Contributions, gifts, grants paid | $10,000 |
| Total expenses and disbursements | $2,186,522 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $562,226 |
| 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 | $541,910 |
| Prepaid expenses and deferred charges | $61,188 |
| Net Investments - land, buildings, equipment | $0 |
| Investments—mortgage loans | $0 |
| Investments—other | $614,997 |
| Net Land, buildings, and equipment | $1,088,413 |
| Other assets | $0 |
| Total assets | $2,868,734 |
| Accounts payable and accrued expenses | $19,748 |
| 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 | $19,748 |
Grants Awarded
Over the last fiscal year, Starkey Hearing Foundation has awarded $325,153 in support to 4 organizations.
| Grant Recipient | Amount |
|---|---|
UNIVERISTY OF MINNESOTA FOUNDATION PURPOSE: INTERNATIONAL HEARING FOUNDATION - ONGOING RESEARCH ON ETIOLOGY AND TREATMENTS OF EAR RELATED PROBLEMS. | $100,000 |
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 |
BILL HILLARY & CHELSEA CLINTON FOUNDATION PURPOSE: CLINTON GLOBAL INITIATIVE | $25,000 |
GOVERNMENT OF THE REPUBLIC OF UGANDA PURPOSE: PURCHASED EQUIPMENT FOR WFA COMMUNITY-BASED HEARING HEALTHCARE PROGRAM | $75,153 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Starkey Hearing Foundation Minneapolis, MN | $2,868,734 | $2,170,824 |
Council For Accreditation In Occupational Hearing Conservation Milwaukee, WI | $1,294,745 | $749,576 |
Iowa Speech And Hearing Association Pleasant Hill, IA | $76,505 | $0 |
Minnesota Lions Hearing Foundation Inc Green Isle, MN | $1,489,449 | $316,445 |
Iowa Hearing Association Clive, IA | $112,298 | $0 |
Minnesota Academy Of Audiology Milwaukee, WI | $119,041 | $0 |
Minnesota Chapter Of The Alexander Graham Bell Association Ada, MN | $3,427 | $0 |