Hobbs Foundation
- Assets
- $10.8m
- Revenue
- $1.2m
- Investments
- $10.6m
- Employees
- 0
- Location
- Reston, VA
- Founding
- 06/2003
- Data as of
- 12/2023
- EIN
- 52-2287607
Organization Overview
Hobbs Foundation is located in Reston, VA. The organization was established in 2003. 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. Hobbs 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, Hobbs Foundation generated $1.2m in total revenue. This represents relatively stable growth, over the past 9 years the organization has increased revenue by an average of 8.1% each year. All expenses for the organization totaled $860.5k during the year ending 12/2023. While expenses have increased by 6.5% per year over the past 9 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, Hobbs Foundation has awarded 303 individual grants totaling $4,201,354. 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 |
|---|---|---|---|
Alan Dye Director | 1 | $0 | |
Russ Hobbs President/director | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $69,697 |
| Interest on Savings | $0 |
| Dividends & Interest | $714,993 |
| Net Rental Income | $0 |
| Net Gain on Sale of Assets | $448,226 |
| Capital Gain Net Income | $448,226 |
| Net ST Capital Gain | $0 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $0 |
| Other Income | $634 |
| Total Revenue | $1,233,550 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $0 |
| Other employee salaries and wages | $119,970 |
| Pension plans, employee benefits | $14,933 |
| Interest | $0 |
| Taxes | $13,335 |
| Depreciation | $0 |
| Occupancy | $2,656 |
| Travel, conferences, and meetings | $3,622 |
| Printing and publications | $0 |
| Other expenses | $34,536 |
| Total operating and administrative expenses | $210,547 |
| Contributions, gifts, grants paid | $650,000 |
| Total expenses and disbursements | $860,547 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $249,604 |
| 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 | $708,870 |
| Net Land, buildings, and equipment | $0 |
| Other assets | $0 |
| Total assets | $10,831,187 |
| 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, Hobbs Foundation has awarded $650,000 in support to 32 organizations.
| Grant Recipient | Amount |
|---|---|
ACADEMY PREP CENTER OF TAMPA PURPOSE: GENERAL SUPPORT | $25,000 |
BOYS AND GIRLS CLUBS OF MIAMI PURPOSE: GENERAL SUPPORT | $25,000 |
CHAMPIONS FOR CHILDREN PURPOSE: GENERAL SUPPORT | $25,000 |
BOYS AND GIRLS CLUB OF PALM BEACH COUNTY PURPOSE: GENERAL SUPPORT | $10,000 |
BOYS AND GIRLS CLUBS OF TAMPA BAY PURPOSE: GENERAL SUPPORT | $20,000 |
BOYS AND GIRLS CLUBS OF CENTRAL FLORIDA PURPOSE: GENERAL SUPPORT | $10,000 |