Hoyt Sherman Place Foundation
- Assets
- $26.2m
- Revenue
- $4.9m
- Investments
- $0.0
- Employees
- 43
- Location
- Des Moines, IA
- Founding
- 09/1995
- Data as of
- 06/2023
- EIN
- 42-1433940
Organization Overview
Hoyt Sherman Place Foundation is located in Des Moines, IA. The organization was established in 1995. According to its NTEE Classification (A80) the organization is classified as: Historical Organizations, under the broad grouping of Arts, Culture & Humanities and related organizations. As of 06/2023, Hoyt Sherman Place Foundation employed 43 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Hoyt Sherman Place 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 06/2023, Hoyt Sherman Place Foundation generated $4.9m in total revenue. This organization has experienced exceptional growth, as over the past 7 years, it has increased revenue by an average of 12.9% each year . All expenses for the organization totaled $5.1m during the year ending 06/2023. While expenses have increased by 19.0% per year over the past 7 years. They've been increasing with an increasing level of total revenue. 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
2023
Describe the Organization's Mission:
Part 3 - Line 1
MAINTENANCE AND PRESERVATION OF THE HOYT SHERMAN MANSION, MUSEUM, THEATER, AND SURROUNDING GROUNDS FOR PUBLIC VIEWING AND USE.
Describe the Organization's Program Activity:
Part 3 - Line 4a
THEATER EVENTS
GENERAL OPERATING
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Bev Hutney Past President | OfficerTrustee | 1 | $0 |
Jeff Vorwerk President | OfficerTrustee | 2 | $0 |
Kristie Bell Secretary | OfficerTrustee | 2 | $0 |
Joyce Larson Treasurer | OfficerTrustee | 2 | $0 |
Mike Barratt Board Member | Trustee | 1 | $0 |
John Bloom Board Member | Trustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $816,281 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $816,281 |
| Total Program Service Revenue | $3,947,568 |
| Investment income | $104,512 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $4,862,165 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| 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. | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $963,574 |
| Pension plan accruals and contributions | $29,738 |
| Other employee benefits | $81,607 |
| Payroll taxes | $73,382 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $0 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $2,816,637 |
| Advertising and promotion | $25,549 |
| Office expenses | $0 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $396,994 |
| Travel | $74 |
| 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 | $497,611 |
| Insurance | $0 |
| All other expenses | $0 |
| Total functional expenses | $5,083,086 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $243,938 |
| Savings and temporary cash investments | $2,301,566 |
| Pledges and grants receivable | $50,585 |
| Accounts receivable, net | $133,260 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $1,432,700 |
| Inventories for sale or use | $12,516 |
| Prepaid expenses and deferred charges | $17,654 |
| Net Land, buildings, and equipment | $9,012,743 |
| Investments—publicly traded securities | $4,879,127 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $8,109,381 |
| Total assets | $26,193,470 |
| Accounts payable and accrued expenses | $111,647 |
| Grants payable | $0 |
| Deferred revenue | $2,073,209 |
| 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 | $2,442,521 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $0 |
| Total liabilities | $4,627,377 |
| Net assets without donor restrictions | $21,305,013 |
| Net assets with donor restrictions | $261,080 |
| 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 | $26,193,470 |