Hoover Presidential Foundation
- Assets
- $15.4m
- Revenue
- $3.5m
- Investments
- $0.0
- Employees
- 9
- Location
- West Branch, IA
- Founding
- 08/1957
- Data as of
- 09/2022
- EIN
- 42-0848288
Organization Overview
Hoover Presidential Foundation is located in West Branch, IA. The organization was established in 1957. According to its NTEE Classification (B70) the organization is classified as: Libraries, under the broad grouping of Education and related organizations. As of 09/2022, Hoover Presidential Foundation employed 9 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Hoover Presidential 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 09/2022, Hoover Presidential Foundation generated $3.5m in total revenue. The organization has seen a slow decline revenue. Over the past 7 years, revenues have fallen by an average of (1.7%) each year. All expenses for the organization totaled $1.5m during the year ending 09/2022. 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
2022
Describe the Organization's Mission:
Part 3 - Line 1
THE HOOVER PRESIDENTIAL FOUNDATION PROMOTES AND SUPPORTS THE HERBERT HOOVER PRESIDENTIAL LIBRARY-MUSEUM, NATIONAL HISTORIC SITE, AND OTHER PROGRAMS THAT ENHANCE THE UNDER-STANDING OF HERBERT HOOVER AS PRESIDENT AND HUMANITARIAN.
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE HOOVER PRESIDENTIAL FOUNDATION PROMOTES AND SUPPORTS THE HERBERT HOOVER PRESIDENTIAL LIBRARY-MUSEUM, NATIONAL HISTORIC SITE, AND OTHER PROGRAMS THAT ENHANCE THE UNDER-STANDING OF HERBERT HOOVER AS PRESIDENT AND HUMANITARIAN.
SCHOLARSHIPS AND GRANTS - THE ORGANIZATION AWARDS TRAVEL GRANTS TO SCHOLARS TO DEFRAY COSTS OF TRAVELING TO WEST BRANCH TO CONDUCT RESEARCH IN THE HOOVER PRESIDENTIAL LIBRARY ARCHIVES. BUS TRAVEL GRANTS ARE MADE TO SCHOOLS TO HELP COVER COSTS OF SCHOOL FIELD TRIPS TO THE HOOVER PRESIDENTIAL LIBRARY AND MUSEUM. UNCOMMON STUDENT AWARDS ARE MADE TO IOWA HIGH SCHOOL JUNIORS IN THE AMOUNT OF 1,500 FOR A PROJECT THEY WISH TO ACCOMPLISH. UNCOMMON STUDENT SCHOLARSHIPS ARE MADE TO FOUR STUDENTS IN THE AMOUNT OF 10,000 FOR USE IN THEIR FRESHMAN AND SOPHOMORE YEARS IN COLLEGE.
MEMBERSHIP PROGRAM - THE ORGANIZATION CONDUCTS SEVERAL EVENTS AND OTHER ITEMS OF INTEREST TO ATTRACT VISITORS AND MEMBERS TO THE PRESIDENTIAL LIBRARY AND MUSEUM. EVENTS AND OTHER ITEMS OF APPEAL ARE USED TO ATTRACT NEW MEMBERS TO THE FOUNDATION.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Jerry Fleagle President An | 40 | $145,691 | |
Mundi Mccarty V. P. Of Dev | 40 | $114,000 | |
H Eugene Anderson Past Chairma | Trustee | 1 | $0 |
Brett Barker Trustee | Trustee | 1 | $0 |
Bruce Barnhart 2nd Vice Cha | OfficerTrustee | 1 | $0 |
Charles Becker Trustee | Trustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $84,139 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $2,307,292 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $2,391,431 |
| Total Program Service Revenue | $7,905 |
| Investment income | $418,705 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $663,382 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $3,490,733 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $61,500 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $637,700 |
| Pension plan accruals and contributions | $56,913 |
| Other employee benefits | $82,946 |
| Payroll taxes | $45,274 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $35,400 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $70,905 |
| Fees for services: Other | $0 |
| Advertising and promotion | $104,110 |
| Office expenses | $30,983 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $54,668 |
| Travel | $16,912 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $24,551 |
| Insurance | $14,411 |
| All other expenses | $21,069 |
| Total functional expenses | $1,534,842 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $214,960 |
| Savings and temporary cash investments | $3,705,683 |
| Pledges and grants receivable | $169,181 |
| Accounts receivable, net | $914 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $41,881 |
| Net Land, buildings, and equipment | $817,031 |
| Investments—publicly traded securities | $10,216,833 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $229,876 |
| Total assets | $15,396,359 |
| Accounts payable and accrued expenses | $103,310 |
| Grants payable | $53,144 |
| Deferred revenue | $321,267 |
| 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 | $0 |
| Total liabilities | $477,721 |
| Net assets without donor restrictions | $2,122,732 |
| Net assets with donor restrictions | $12,795,906 |
| Capital stock or trust principal, or current funds | $0 |
| Paid-in or capital surplus, or land, building, or equipment fund | $0 |
| Retained earnings, endowment, accumulated income, or other funds | $0 |
| Total liabilities and net assets/fund balances | $15,396,359 |