Ray V Hewitt Foundation
- Assets
- $254.0k
- Revenue
- $42.5k
- Investments
- $250.9k
- Employees
- 0
- Location
- Clear Lake, IA
- Founding
- 11/2003
- Data as of
- 12/2022
- EIN
- 42-1516560
Organization Overview
Ray V Hewitt Foundation is located in Clear Lake, IA. The organization was established in 2003. According to its NTEE Classification (T22) the organization is classified as: Private Independent 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. Ray V Hewitt 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, Ray V Hewitt Foundation generated $42.5k in total revenue. This represents a relatively dramatic decline in revenue. Over the past 6 years, the organization has seen revenues fall by an average of (5.1%) each year. All expenses for the organization totaled $15.6k during the year ending 12/2022. You can explore the organizations financials more deeply in the financial statements section below.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Mark C Hewitt President | 0.5 | $0 | |
Clear Lake Bank Trust Trustee | 1 | $1,349 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $29,372 |
| Interest on Savings | $40 |
| Dividends & Interest | $5,303 |
| Net Rental Income | $0 |
| Net Gain on Sale of Assets | $7,823 |
| Capital Gain Net Income | $7,823 |
| Net ST Capital Gain | $0 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $0 |
| Other Income | $0 |
| Total Revenue | $42,538 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $1,349 |
| Other employee salaries and wages | $0 |
| Pension plans, employee benefits | $0 |
| Interest | $0 |
| Taxes | $418 |
| Depreciation | $0 |
| Occupancy | $0 |
| Travel, conferences, and meetings | $0 |
| Printing and publications | $0 |
| Other expenses | $0 |
| Total operating and administrative expenses | $2,627 |
| Contributions, gifts, grants paid | $13,000 |
| Total expenses and disbursements | $15,627 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $3,121 |
| 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 | $0 |
| Prepaid expenses and deferred charges | $0 |
| Net Investments - land, buildings, equipment | $0 |
| Investments—mortgage loans | $0 |
| Investments—other | $250,925 |
| Net Land, buildings, and equipment | $0 |
| Other assets | $0 |
| Total assets | $254,046 |
| Accounts payable and accrued expenses | $0 |
| 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 | $0 |
Grants Awarded
Over the last fiscal year, Ray V Hewitt Foundation has awarded $13,000 in support to 8 organizations.
| Grant Recipient | Amount |
|---|---|
MATT STEFFENSMEIERCENTRAL COLLEGE PURPOSE: COLLEGE SCHOLARSHIP | $1,000 |
KENADIE LAUISU PURPOSE: COLLEGE SCHOLARSHIP | $1,000 |
ETHAN ZICKEFOOSEISU PURPOSE: COLLEGE SCHOLARSHIP | $1,000 |
PAIGE ROBERTSOKLAHOMA STATE UNIV PURPOSE: COLLEGE SCHOLARSHIP | $1,000 |
AIMEE GROENEWEGNIACC PURPOSE: COLLEGE SCHOLARSHIP | $1,000 |
ASHLYN FREAD UNIV OF NEBRASKA PURPOSE: COLLEGE SCHOLARSHIP | $1,000 |