Hargrove Foundation
- Assets
- $1.6m
- Revenue
- $632.6k
- Investments
- $0.0
- Employees
- 0
- Location
- Mobile, AL
- Founding
- 01/2012
- Data as of
- 12/2022
- EIN
- 45-2712738
Organization Overview
Hargrove Foundation is located in Mobile, AL. The organization was established in 2012. According to its NTEE Classification (T30) the organization is classified as: Public 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. Hargrove 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, Hargrove Foundation generated $632.6k in total revenue. This represents relatively stable growth, over the past 8 years the organization has increased revenue by an average of 7.0% each year. All expenses for the organization totaled $345.5k during the year ending 12/2022. While expenses have increased by 3.3% per year over the past 8 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.
Since 2015, Hargrove Foundation has awarded 70 individual grants totaling $1,154,625. 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
THE MISSION OF THE HARGROVE FOUNDATION, INC. IS TO IDENTIFY CHARITABLE CAUSES AND ORGANIZATIONS IN LOCAL COMMUNITIES WHERE WE CAN HAVE AN IMPACT ON LIVES BY GIVING OF OUR RESOURCES AND TALENTS TO BRING GREATER OPPORTUNITIES FOR SUCCESS AND DEVELOPMENT.
Describe the Organization's Program Activity:
Part 3 - Line 4a
PROVIDED DONATIONS TO LOCAL EDUCATIONAL, SPORTING, ARTS & CULTURAL EVENTS. PROVIDED SUPPORT FOR LOCAL HEALTH AND HUMAN SERVICES.
CONTRIBUTIONS TO LOCAL EDUCATIONAL INSTITUTIONS, MEDICAL FOUNDATIONS, MUSEUMS AND AND INTERFAITH RELIGEOUS ORGANIZATION.
CONTRIBUTIONS TO DISASTER RELIEF AND RECOVERY FUNDS FOR WEATHER EVENTS AND COVID19 RELIEF DURING THE YEAR.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Micki Kohn | OfficerTrustee | 5 | $0 |
John B Shell | Trustee | 5 | $0 |
Travis Odom | OfficerTrustee | 5 | $0 |
Lesley Baker | OfficerTrustee | 5 | $0 |
Karen Griffin | Trustee | 1 | $0 |
Jeff Drinkard | 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 | $499,394 |
| Noncash contributions included in lines 1a–1f | $5,480 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $499,394 |
| Total Program Service Revenue | $0 |
| Investment income | $21,202 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $1,636 |
| Net Income from Fundraising Events | $110,414 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $632,646 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $330,031 |
| 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 | $0 |
| Payroll taxes | $0 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $7,081 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $0 |
| Office expenses | $0 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $0 |
| 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 | $2,181 |
| All other expenses | $6,219 |
| Total functional expenses | $345,512 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $432,441 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| 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 | $1,172,539 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $1,604,980 |
| Accounts payable and accrued expenses | $500 |
| 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 | $0 |
| Total liabilities | $500 |
| Net assets without donor restrictions | $1,604,480 |
| Net assets with donor restrictions | $0 |
| 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 | $1,604,980 |
Grants Awarded
Over the last fiscal year, Hargrove Foundation has awarded $128,000 in support to 11 organizations.
| Grant Recipient | Amount |
|---|---|
AUBURN UNIVERSITY FOUNDATION PURPOSE: Fund Scholarships | $10,000 |
LOUISIANA STATE UNIVERSITY PURPOSE: Fund Scholarships | $10,000 |
BIG BROTHERS BIG SISTERS OF S ALABAMA PURPOSE: Provide Services | $15,000 |
LAMAR UNIVERSITY FOUNDATION PURPOSE: Fund Scholarships | $10,000 |
DOWNTOWN PARKS CONSERVATORY PURPOSE: Provide Services | $12,500 |
AZALEA CITY CENTER FOR THE ARTS PURPOSE: Provide Services | $10,000 |