Western Home Foundation
- Assets
- $3.2m
- Revenue
- $449.8k
- Investments
- $2.5m
- Employees
- 0
- Location
- Cedar Falls, IA
- Founding
- 12/2000
- Data as of
- 12/2022
- EIN
- 42-1505760
Organization Overview
Western Home Foundation is located in Cedar Falls, IA. The organization was established in 2000. According to its NTEE Classification (L12) the organization is classified as: Fund Raising & Fund Distribution, under the broad grouping of Housing & Shelter and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Western Home 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 12/2022, Western Home Foundation generated $449.8k in total revenue. This represents a relatively dramatic decline in revenue. Over the past 8 years, the organization has seen revenues fall by an average of (9.4%) each year. All expenses for the organization totaled $1.3m during the year ending 12/2022. As we would expect to see with falling revenues, expenses have declined by (2.1%) per year over the past 8 years. You can explore the organizations financials more deeply in the financial statements section below.
Since 2015, Western Home Foundation has awarded 13 individual grants totaling $5,322,812. 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
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2022
Describe the Organization's Mission:
Part 3 - Line 1
TO SUPPORT WESTERN HOME COMMUNITIES THROUGH PHILANTHROPIC GIFTS AND STEWARDSHIPS.
Describe the Organization's Program Activity:
Part 3 - Line 4a
ESTABLISHMENT OF AN ENDOWMENT FUND TO SUPPORT THE OPERATIONS OF WESTERN HOME COMMUNITIES, INC, AN IOWA NONPROFIT CORPORATION THAT IS A MULTI-LEVEL CARE FACILITY FOR THE AGED AND INFIRM.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Sarah Brown Board Chair | OfficerTrustee | 1 | $0 |
Ronald Gaines Vice Chair | OfficerTrustee | 1 | $0 |
Larry Fox Immediate Past Chair | OfficerTrustee | 1 | $0 |
Greg Schmitz Treasurer | OfficerTrustee | 1 | $0 |
Dr Richard Frankhauser Secretary | OfficerTrustee | 1 | $0 |
Nafissa Egbuonye Director | Trustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $56,195 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $276,494 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $332,689 |
| Total Program Service Revenue | $0 |
| Investment income | $107,188 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | -$6,884 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $449,828 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $990,005 |
| 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 | $0 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $5,895 |
| Payroll taxes | $0 |
| Fees for services: Management | $300,000 |
| 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 | $8,511 |
| Fees for services: Other | $2,525 |
| Advertising and promotion | $14,268 |
| Office expenses | $2,805 |
| Information technology | $3,390 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $4,516 |
| 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 | $0 |
| Insurance | $0 |
| All other expenses | $1,030 |
| Total functional expenses | $1,332,945 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $310,497 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $342,506 |
| Accounts receivable, net | $0 |
| 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 | $0 |
| Net Land, buildings, and equipment | $0 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $2,509,462 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $3,162,465 |
| Accounts payable and accrued expenses | $3,817 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| 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 | $3,260,107 |
| Total liabilities | $3,263,924 |
| Net assets without donor restrictions | -$904,511 |
| Net assets with donor restrictions | $803,052 |
| 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 | $3,162,465 |
Grants Awarded
Over the last fiscal year, Western Home Foundation has awarded $134,118 in support to 3 organizations.
| Grant Recipient | Amount |
|---|---|
WESTERN HOME GROUP PURPOSE: TO SUPPORT THE MISSION OF WESTERN HOME GROUP | $15,270 |
MARTIN HEALTH CENTER PURPOSE: TO SUPPORT THE MISSION OF THE MARTIN HEALTH CENTER | $92,320 |
WESTERN HOME SERVICES INC PURPOSE: TO SUPPORT THE MISSION OF WESTERN HOME SERVICES, INC. | $26,528 |