Hough Foundation
- Assets
- $12.7m
- Revenue
- $673.6k
- Investments
- $11.9m
- Employees
- 0
- Location
- Bingham Farms, MI
- Founding
- 09/2011
- Data as of
- 12/2023
- EIN
- 45-2697781
Organization Overview
Hough Foundation is located in Bingham Farms, MI. The organization was established in 2011. 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. Hough 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 12/2023, Hough Foundation generated $673.6k in total revenue. This represents a relatively dramatic decline in revenue. Over the past 9 years, the organization has seen revenues fall by an average of (7.7%) each year. All expenses for the organization totaled $1.3m during the year ending 12/2023. You can explore the organizations financials more deeply in the financial statements section below.
Since 2015, Hough Foundation has awarded 145 individual grants totaling $8,425,722. 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.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
David R Hough President | 0 | $0 | |
Bonnie J Hough Vice Preside | 0 | $0 | |
Trevor D Hough Treasurer | 0 | $0 | |
Hilary M Romkey Director | 0 | $0 | |
Shannon M Hough Director | 0 | $0 | |
John E Grenke Director | 0 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $6,500 |
| Interest on Savings | $0 |
| Dividends & Interest | $376,131 |
| Net Rental Income | $0 |
| Net Gain on Sale of Assets | $291,008 |
| Capital Gain Net Income | $291,008 |
| Net ST Capital Gain | $0 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $0 |
| Other Income | $0 |
| Total Revenue | $673,639 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $0 |
| Other employee salaries and wages | $0 |
| Pension plans, employee benefits | $0 |
| Interest | $0 |
| Taxes | $6,500 |
| Depreciation | $0 |
| Occupancy | $0 |
| Travel, conferences, and meetings | $9,382 |
| Printing and publications | $0 |
| Other expenses | $972 |
| Total operating and administrative expenses | $19,412 |
| Contributions, gifts, grants paid | $1,244,000 |
| Total expenses and disbursements | $1,263,412 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $491 |
| Savings and temporary cash investments | $856,029 |
| 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 | $11,868,079 |
| Net Land, buildings, and equipment | $0 |
| Other assets | $0 |
| Total assets | $12,724,599 |
| 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, Hough Foundation has awarded $1,244,000 in support to 18 organizations.
| Grant Recipient | Amount |
|---|---|
BEAUMONT HOSPITAL FOUNDATION PURPOSE: MEDICAL SERVICES | $520,000 |
BIG SKY COMMUNITY ORGANIZATION PURPOSE: PRESERVE NATURAL RESOURCES | $110,000 |
FLY FISHERS INTERNATIONAL PURPOSE: EDUCATION | $1,000 |
GLOBAL EDUCATION & SPORTS FOUND PURPOSE: YOUTH SPORTS OPPORTUNITY | $5,000 |
HENRY FORD COLLEGE FOUNDATION PURPOSE: EDUCATIONAL PROGRAMS | $4,500 |
HILLSDALE COLLEGE PURPOSE: SCHOLARSHIPS | $501,000 |