Hinton Area Foundation Inc
- Assets
- $7.5m
- Revenue
- $737.6k
- Investments
- $0.0
- Employees
- 3
- Location
- Hinton, WV
- Founding
- 08/1992
- Data as of
- 12/2022
- EIN
- 55-0716276
Organization Overview
Hinton Area Foundation Inc is located in Hinton, WV. The organization was established in 1992. According to its NTEE Classification (T31) the organization is classified as: Community Foundations, under the broad grouping of Philanthropy, Voluntarism & Grantmaking Foundations and related organizations. As of 12/2022, Hinton Area Foundation Inc employed 3 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Hinton Area Foundation Inc 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, Hinton Area Foundation Inc generated $737.6k in total revenue. This represents relatively stable growth, over the past 5 years the organization has increased revenue by an average of 1.0% each year. All expenses for the organization totaled $413.3k during the year ending 12/2022. You can explore the organizations financials more deeply in the financial statements section below.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2022
Describe the Organization's Mission:
Part 3 - Line 1
WE ARE A COMMUNITY FOUNDATION ORGANIZED TO PROVIDE A COMMON SOURCE FOR CONTRIBUTIONS TO BENEFIT THE LOCAL COMMUNITY AND TO ENCOURAGE GIVING.
Describe the Organization's Program Activity:
Part 3 - Line 4a
WE ADMINISTER 44 SEPARATE FUNDS THAT GIVE SCHOLARSHIPS TO LOCAL STUDENTS BASED ON MERIT AND NEED. 51 STUDENTS WERE AWARDED A TOTAL $90,750 IN AMOUNTS RANGING FROM $250 TO $5,000.
WE MAINTAIN 47 PASS-THROUGH FUNDS THAT ARE SPECIFIC PURPOSE FUNDS. WE SPENT $66,063 IN AMOUNTS RANGING FROM $248 TO $17,052 FOR THOSE PURPOSES THIS YEAR. WE MAINTAIN 36 OTHER FUNDS AND WE SPENT $79,273 IN AMOUNTS RANGING FROM $193 TO $26,578.
THE SUMMERS COUNTY PUBLIC LIBRARY HAS AN ENDOWED FUND WITH US AND THE EARNINGS ARE USED FOR CURRENT OPERATING EXPENSES.
WE HAVE A GENERAL FUND THAT GRANTS MONEY TO LOCAL ORGANIZATIONS AND GROUPS THAT ADMINISTER MOSTLY LOCAL YOUTH BENEFIT PROGRAMS. THE YEAR WE AWARDED A TOTAL OF $18,828 IN AMOUNTS RANGING FROM $500 TO $6,900 TO 7 DIFFERENT ORGANIZATIONS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Amy Mann President | OfficerTrustee | 10 | $0 |
Greg Rogers Vice President | OfficerTrustee | 2 | $0 |
Judy Peterson Secretary | OfficerTrustee | 2 | $0 |
Billy Mills Treasurer | OfficerTrustee | 2 | $0 |
David Ziegler Assistant Treasurer | OfficerTrustee | 2 | $0 |
Ken Allman Director | 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 | $224,784 |
| Noncash contributions included in lines 1a–1f | $2,007 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $224,784 |
| Total Program Service Revenue | $0 |
| Investment income | $207,639 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $294,035 |
| Net Income from Fundraising Events | $11,186 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $737,644 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $200,741 |
| Grants and other assistance to domestic individuals. | $90,750 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $30,673 |
| Compensation of current officers, directors, key employees. | $30,673 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $12,432 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $3,298 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $5,000 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $42,222 |
| Fees for services: Other | $0 |
| Advertising and promotion | $1,398 |
| Office expenses | $2,358 |
| Information technology | $5,692 |
| Royalties | $0 |
| Occupancy | $6,762 |
| Travel | $2,265 |
| 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 | $1,138 |
| All other expenses | $3,011 |
| Total functional expenses | $413,262 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $34,639 |
| Savings and temporary cash investments | $30,204 |
| 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 | $110,720 |
| Investments—publicly traded securities | $7,320,079 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $7,495,642 |
| Accounts payable and accrued expenses | $0 |
| 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 | $0 |
| Net assets without donor restrictions | $7,495,642 |
| 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 | $7,495,642 |
Grants Awarded
Over the last fiscal year, Hinton Area Foundation Inc has awarded $72,655 in support to 2 organizations.
| Grant Recipient | Amount |
|---|---|
SUMMERS CO LIBRARY PURPOSE: OPERATIONS | $36,078 |
REACH-FAMILY RESOURCE CENTER PURPOSE: OPERATIONS | $36,577 |