Eric D And Steven D Hovde Foundation
- Assets
- $11.9m
- Revenue
- $962.6k
- Investments
- $8.9m
- Employees
- 0
- Location
- Madison, WI
- Founding
- 07/1999
- Data as of
- 12/2021
- EIN
- 52-2107093
Organization Overview
Eric D And Steven D Hovde Foundation is located in Madison, WI. The organization was established in 1999. 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. Eric D And Steven D Hovde 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 12/2021, Eric D And Steven D Hovde Foundation generated $962.6k in total revenue. This represents a relatively dramatic decline in revenue. Over the past 4 years, the organization has seen revenues fall by an average of (21.2%) each year. All expenses for the organization totaled $1.2m during the year ending 12/2021. You can explore the organizations financials more deeply in the financial statements section below.
Since 2020, Eric D And Steven D Hovde Foundation has awarded 30 individual grants totaling $1,901,008. 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
990PF
Mission & Program ActivityExcerpts From the 990PF Filing
TAX YEAR
2021
Describe the Organization's Program Activity:
Part 3 - Line 4a
MANY HOPES - MANY HOPES RESCUES CHILDREN FROM OPPRESSION AND RAISES THEM TO BE ADULTS OF INFLUENCE EQUIPPED TO DO JUSTICE FOR OTHERS, CAUSING EXPONENTIAL IMPACT. THROUGH THEIR PARTNERSHIPS WITH ORGANIZATIONS IN 6 COUNTRIES, MANY HOPES WALKS WITH CHILDREN THROUGH SIX STAGES OF THE ARC TO INFLUENCE CHILD DEVELOPMENT MODEL. OVER 675 CHILDREN HAVE BENEFITTED THEIR SUPPORT IN 2021.
COST RICA HOVDE HOUSE - FACE OF JUSTICE, AIMS TO STOP CHILD TRAFFICKING AND COMMERCIAL EXPLOITATION THROUGH PREVENTION, INTERVENTION, AND RESTORATION SERVICES. FACE OF JUSTICE CURRENTLY RUNS TEMPORARY HOUSING FACILITY FOR 24 CHILDREN RESCUED FROM HARMFUL SITUATIONS. THIS YEAR, THE HOVDE FOUNDATION PROVIDED $260,925 FOR THE CONSTRUCTION OF A NEW, PERMANENT HOME TO CARE FOR AN ADDITIONAL 24 GIRLS.
PERU HOVDE HOUSE - THIS FACILITY HOUSES 32 GIRLS, ALL VICTIMS OF SEXUAL ABUSE. SEVERAL OF THEM AT ANY TIME ARE PREGNANT OR BEARING YOUNG CHILDREN AS A RESULT OF THEIR ABUSE. THIS HOME IS A SHELTER, WHERE THE GIRLS FIND REFUGE, LOVE, EDUCATION, HEALTHCARE, NUTRITION, AND PARENTING SKILLS WHILE THEIR AGGRESSORS FACE JUSTICE. THE GIRLS DO NOT RETURN HOME UNTIL THEIR AGGRESSORS ARE IN JAIL. THE HOVDE FOUNDATION DONATED $138,909 THIS YEAR TO SUPPORT OPERATING EXPENSES AS WELL AS THE TRANSITION OF THE PROGRAM'S MANAGEMENT TO A NEW ORGANIZATION.
RWANDA HOVDE HOUSE - OUR PARTNER IN RWANDA, HOPE FOR LIFE, PROVIDES PHYSICAL, EMOTIONAL AND SPIRITUAL HEALING FOR ORPHANED, NEGLECTED AND ABANDONED CHILDREN IN AND AROUND KIGALI, RWANDA. THEY HAVE BEEN GROWING STEADILY OVER THE LAST FEW YEARS AND ARE IN NEED OF MORE SPACE, AND LAST YEAR WE DECIDED TO HELP THEM BUILD A SECOND HOVDE HOME. THE NEW HOME WILL HOUSE UP TO 32 ADDITIONAL CHILDREN. THIS YEAR, THE HOVDE FOUNDATION GRANTED $77,000 FOR CONSTRUCTION AND OPERATIONAL EXPENSES.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Nicole Bice Executive Director | 40 | $117,915 | |
Eric D Hovde Trustee | 2 | $0 | |
Steven D Hovde Trustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $15,000 |
| Interest on Savings | $0 |
| Dividends & Interest | $61,780 |
| Net Rental Income | $0 |
| Net Gain on Sale of Assets | $664,462 |
| Capital Gain Net Income | $664,462 |
| Net ST Capital Gain | $0 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $0 |
| Other Income | $221,371 |
| Total Revenue | $962,613 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $117,915 |
| Other employee salaries and wages | $37,133 |
| Pension plans, employee benefits | $14,459 |
| Interest | $9,002 |
| Taxes | $33,879 |
| Depreciation | $45,264 |
| Occupancy | $11,704 |
| Travel, conferences, and meetings | $1,001 |
| Printing and publications | $0 |
| Other expenses | $181,644 |
| Total operating and administrative expenses | $547,632 |
| Contributions, gifts, grants paid | $697,086 |
| Total expenses and disbursements | $1,244,718 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $1,342,465 |
| Net Accounts receivable | $0 |
| Net Pledges Receivable | $5,000 |
| 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 | $7,856,300 |
| Net Land, buildings, and equipment | $1,715,203 |
| Other assets | $0 |
| Total assets | $11,918,657 |
| Accounts payable and accrued expenses | $62,930 |
| 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 | $62,930 |
Grants Awarded
Over the last fiscal year, Eric D And Steven D Hovde Foundation has awarded $697,086 in support to 14 organizations.
| Grant Recipient | Amount |
|---|---|
Bronxville, NY PURPOSE: GENERAL CONTRIBUTION TO MANY HOPES IN SUPPORT OF OTHER PARTNERS IN SEVERAL COUNTRIES | $249,890 |
ASOCIACION NUEVO AMANECER JUNTOS PURPOSE: HOVDE HOUSE PERU - OPERATIONS | $138,909 |
Seattle, WA PURPOSE: YOUTH IN RWANDA WITH HOLISTIC, FAMILY-CENTERED, & TRAUMA INFORMED INTERVENTIONS TO ESCAPE HOMELESSNESS | $77,000 |
HOGAR DE NINOS ALALAY PURPOSE: HOVDE HOUSE BOLIVIA | $69,097 |
Madison, WI PURPOSE: 50TH ANNIVERSARY CAMPAIGN & TRAIL UPGRADE PROJECT | $50,000 |
Bronxville, NY PURPOSE: GENERAL CONTRIBUTION TO MANY HOPES IN SUPPORT OF OTHER PARTNERS IN SEVERAL COUNTRIES | $33,500 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Douglas & Maria Devos Foundation Grand Rapids, MI | $79,921,409 | $9,501,037 |
Charles K Blandin Foundation Grand Rapids, MN | $0 | $24,073,238 |
Ed Uihlein Family Foundation Lake Forest, IL | $7,123,989 | $4,757,675 |
Joseph L & Sarah S Marcum Foundation Chicago, IL | $0 | $6,419,437 |
Kraft Heinz Company Foundation Chicago, IL | $398,764 | $8,002,636 |
State Farm Companies Foundation Bloomington, IL | $9,666,483 | $1,134 |
Marie C & Joseph C Wilson Foundation Chicago, IL | $0 | $53,412 |
Dow Company Foundation Bay City, MI | $175,531,548 | $110,489,699 |
Alphawood Foundation Chicago, IL | $96,386,448 | $15,256,055 |
Steans Family Foundation Chicago, IL | $0 | $20,140,801 |
Irving S Gilmore Foundation Kalamazoo, MI | $388,410,325 | $41,180,610 |
Reiman Foundation Inc Pewaukee, WI | $64,480,239 | $12,529,672 |