Hermitage Foundation
- Assets
- $11.4m
- Revenue
- $319.0k
- Investments
- $4.5m
- Employees
- 0
- Location
- Norfolk, VA
- Founding
- 08/1953
- Data as of
- 12/2022
- EIN
- 54-0505909
Organization Overview
Hermitage Foundation is located in Norfolk, VA. The organization was established in 1953. 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. Hermitage 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, Hermitage Foundation generated $319.0k 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 (43.4%) each year. All expenses for the organization totaled $867.8k during the year ending 12/2022. You can explore the organizations financials more deeply in the financial statements section below.
Form
990PF
Mission & Program ActivityExcerpts From the 990PF Filing
TAX YEAR
2022
Describe the Organization's Program Activity:
Part 3 - Line 4a
OPERATION AND MAINTENANCE OF AN ART MUSEUM, HISTORIC HOUSE, AND GARDENS FOR THE EDUCATION AND ENJOYMENT OF THE PUBLIC, INCLUDING ART PROGRAMS AND INSTRUCTION.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Jen Duncan Executive Director | 40 | $0 | |
Henry U Harris Trustee | 5 | $0 | |
Alex D Erving Trustee | 5 | $0 | |
Ann Stokes Trustee | 5 | $0 | |
Ian Holder Trustee | 5 | $0 | |
Pamela Combs Trustee | 5 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $36 |
| Interest on Savings | $0 |
| Dividends & Interest | $132,956 |
| Net Rental Income | $0 |
| Net Gain on Sale of Assets | $186,053 |
| Capital Gain Net Income | $186,053 |
| Net ST Capital Gain | $0 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $0 |
| Other Income | $0 |
| Total Revenue | $319,045 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $0 |
| Other employee salaries and wages | $0 |
| Pension plans, employee benefits | $0 |
| Interest | $0 |
| Taxes | $0 |
| Depreciation | $66,690 |
| Occupancy | $0 |
| Travel, conferences, and meetings | $0 |
| Printing and publications | $0 |
| Other expenses | $0 |
| Total operating and administrative expenses | $84,383 |
| Contributions, gifts, grants paid | $783,439 |
| Total expenses and disbursements | $867,822 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $627,587 |
| Savings and temporary cash investments | $163,734 |
| 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 | $0 |
| Net Land, buildings, and equipment | $1,330,674 |
| Other assets | $4,779,496 |
| Total assets | $11,394,518 |
| 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 | $190,101 |
| Total liabilities | $190,101 |