The Hubbard Broadcasting Foundation
- Assets
- $45.1m
- Revenue
- $3.7m
- Investments
- $43.1m
- Employees
- 0
- Location
- St Paul, MN
- Founding
- 03/1960
- Data as of
- 12/2021
- EIN
- 41-6022291
Organization Overview
The Hubbard Broadcasting Foundation is located in St Paul, MN. The organization was established in 1960. 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. Hubbard Broadcasting 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, Hubbard Broadcasting Foundation generated $3.7m 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 (19.1%) each year. All expenses for the organization totaled $1.9m during the year ending 12/2021. As we would expect to see with falling revenues, expenses have declined by (10.9%) per year over the past 4 years. You can explore the organizations financials more deeply in the financial statements section below.
Since 2020, Hubbard Broadcasting Foundation has awarded 308 individual grants totaling $8,261,933. 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
N/A
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Kathryn Hubbard Rominski Vice President/exec Director | 15 | $74,137 | |
Stanley E Hubbard II Director | 1 | $0 | |
C Thomas Newberry Secretary/treasurer | 1 | $0 | |
Virginia H Morris Director | 1 | $0 | |
Robert W Hubbard Vice President/director | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $375 |
| Interest on Savings | $311,715 |
| Dividends & Interest | $426,315 |
| Net Rental Income | $0 |
| Net Gain on Sale of Assets | $2,987,139 |
| Capital Gain Net Income | $2,987,307 |
| Net ST Capital Gain | $0 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $0 |
| Other Income | $0 |
| Total Revenue | $3,725,544 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $74,137 |
| Other employee salaries and wages | $0 |
| Pension plans, employee benefits | $0 |
| Interest | $0 |
| Taxes | $63,383 |
| Depreciation | $0 |
| Occupancy | $0 |
| Travel, conferences, and meetings | $0 |
| Printing and publications | $0 |
| Other expenses | $506 |
| Total operating and administrative expenses | $493,183 |
| Contributions, gifts, grants paid | $1,453,100 |
| Total expenses and disbursements | $1,946,283 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $1,903,428 |
| Savings and temporary cash investments | $0 |
| Net Accounts receivable | $87,407 |
| 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 | $0 |
| Net Land, buildings, and equipment | $0 |
| Other assets | $0 |
| Total assets | $45,105,395 |
| Accounts payable and accrued expenses | $0 |
| Grants payable | $1,445,916 |
| 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 | $1,445,916 |
Grants Awarded
Over the last fiscal year, The Hubbard Broadcasting Foundation has awarded $2,815,933 in support to 142 organizations.
| Grant Recipient | Amount |
|---|---|
Wayzata, MN PURPOSE: PHASE 3 PLEDGE | $120,000 |
Roseville, MN PURPOSE: JOAN KROC CENTERS | $100,000 |
Northfield, MN PURPOSE: IN HONOR OF DIDRIKKE A. O. STUB | $100,000 |
St Paul, MN PURPOSE: LEAD THE WAY CAPITAL PLEDGE | $90,000 |
NEIGHBORHOOD DEVELOPMENT CENTER PURPOSE: CAPITAL PLEDGE | $90,000 |
Minneapolis, MN PURPOSE: EMPOWER CAMPAIGN PLEDGE | $90,000 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Charles K Blandin Foundation Grand Rapids, MN | $0 | $24,073,238 |
Reiman Foundation Inc Pewaukee, WI | $64,480,239 | $12,529,672 |
American Family Insurance Dreams Foundation Inc Madison, WI | $10,733,127 | $6,580,229 |
Joseph And Vera Zilber Charitable Foundation Inc Milwaukee, WI | $301,880,639 | $24,555,392 |
Argosy Foundation Milwaukee, WI | $36,932,110 | $41,277,914 |
Cargill Foundation Minneapolis, MN | $286,172,868 | $105,535,102 |
Schoeneckers Foundation Minneapolis, MN | $145,295,949 | $7,540,866 |
The Curtis L Carlson Family Foundation Minnetonka, MN | $300,826,673 | $21,132,663 |
Principal Financial Group Foundation Inc Des Moines, IA | $217,742,870 | $19,396,180 |
Herbert H Kohl Charities Inc Milwaukee, WI | $19,332,679 | $4,430,173 |
Andreas Foundation Mankato, MN | $70,794,995 | $28,410,107 |
Frechette Family Foundation Minneapolis, MN | $167,055,978 | $9,430,765 |