Eric D And Steven D Hovde Foundation
- Assets
- $9.2m
- Revenue
- $207.2k
- Investments
- $6.1m
- Employees
- 0
- Location
- Madison, WI
- Founding
- 07/1999
- Data as of
- 12/2023
- 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 12/2023, Eric D And Steven D Hovde Foundation generated $207.2k in total revenue. This represents a relatively dramatic decline in revenue. Over the past 5 years, the organization has seen revenues fall by an average of (25.5%) each year. All expenses for the organization totaled $2.6m during the year ending 12/2023. 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 80 individual grants totaling $7,538,261. 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
2023
Describe the Organization's Program Activity:
Part 3 - Line 4a
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 1468 CHILDREN HAVE BENEFITTED THEIR SUPPORT IN 2023.
THE PERU HOVDE HOUSE HOUSES 24 GIRLS, ALL VICTIMS OF SEXUAL 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 SUPPORT OPERATING EXPENSES.
THE 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 SUPPORT TO THE CONTINUE THE CONSTRUCTION OF A NEW, PERMANENT HOME TO CARE FOR AN ADDITIONAL 24 GIRLS.
BOLIVIA HOVDE HOUSE OUR PARTNER, ALALAY, PROVIDES HOLISTIC CARE AND EDUCATION TO STREET CHILDREN IN BOLIVIA. THE HOVDE HOME SPECIFICALLY CARES FOR 30 ABANDONED AND ABUSED GIRLS WHO WERE WORKING THE STREETS OF LA PAZ AND EL ALTO. THIS YEAR, THE HOVDE FOUNDATION PROVIDED SUPPORT FOR GENERAL OPERATING EXPENSES.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Eric D Hovde Trustee | 2 | $0 | |
Steven D Hovde Trustee | 1 | $0 | |
Nicole Bice Executive Director | 40 | $149,430 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $4,406 |
| Interest on Savings | $0 |
| Dividends & Interest | $48,148 |
| Net Rental Income | $0 |
| Net Gain on Sale of Assets | $107,592 |
| Capital Gain Net Income | $107,592 |
| Net ST Capital Gain | $0 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $0 |
| Other Income | $47,067 |
| Total Revenue | $207,213 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $149,430 |
| Other employee salaries and wages | $35,134 |
| Pension plans, employee benefits | $8,717 |
| Interest | $0 |
| Taxes | $41,505 |
| Depreciation | $26,530 |
| Occupancy | $0 |
| Travel, conferences, and meetings | $95,870 |
| Printing and publications | $0 |
| Other expenses | $44,770 |
| Total operating and administrative expenses | $674,505 |
| Contributions, gifts, grants paid | $1,913,120 |
| Total expenses and disbursements | $2,587,625 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $1,639,536 |
| Net Accounts receivable | $7,531 |
| 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 | $700 |
| Net Investments - land, buildings, equipment | $0 |
| Investments—mortgage loans | $0 |
| Investments—other | $5,813,413 |
| Net Land, buildings, and equipment | $1,430,156 |
| Other assets | $0 |
| Total assets | $9,171,095 |
| Accounts payable and accrued expenses | $256,934 |
| 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 | $256,934 |
Grants Awarded
Over the last fiscal year, Eric D And Steven D Hovde Foundation has awarded $1,699,391 in support to 18 organizations.
| Grant Recipient | Amount |
|---|---|
ASOCIACION NUEVO AMANECER JUNTOS PURPOSE: HOVDE HOUSE PERU - OPERATIONS | $245,927 |
CHALLENGING HEIGHTS PURPOSE: HOVDE HOUSE GHANA | $100,000 |
CLEAN LAKES ALLIANCE PURPOSE: TABLE SPONSORSHIP FOR ANNUAL MEETING | $15,000 |
ESCUELA DE LA CALLE PURPOSE: GUATEMALA OPERATING EXPENSES | $50,000 |
EXTENDED HANDS PANTRY INC PURPOSE: WAREHOUSE UPGRADES | $10,000 |
HOPE FOR LIFE PURPOSE: SUPPORT RWANDA YOUTH WITH TRAUMA INFORMED INTERVENTIONS TO ESCAPE HOMELESSNESS | $30,000 |