The H Hovnanian Family Foundation
- Assets
- $209.4m
- Revenue
- $83.7m
- Investments
- $154.1m
- Employees
- 0
- Location
- Tinton Falls, NJ
- Founding
- 01/1987
- Data as of
- 12/2021
- EIN
- 59-2714390
Organization Overview
The H Hovnanian Family Foundation is located in Tinton Falls, NJ. The organization was established in 1987. 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. H Hovnanian Family 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, H Hovnanian Family Foundation generated $83.7m in total revenue. All expenses for the organization totaled $8.7m during the year ending 12/2021. While expenses have increased by 17.4% per year over the past 3 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 2021, H Hovnanian Family Foundation has awarded 72 individual grants totaling $5,688,782. 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 |
|---|---|---|---|
Edele Hovnanian President | 22 | $156,231 | |
Siran Sahakian Treasurer | 2 | $12,000 | |
Armen Hovnanian Trustee | 2 | $12,000 | |
Gorr Sahakian Vice President/secretary | 2 | $12,000 | |
Haik Sahakian Trustee | 2 | $12,000 | |
Leela Hovnanian Trustee | 2 | $12,000 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Goldman Sachs | 12/30/21 | $432,106 |
Merrill Lynch | 12/30/21 | $313,955 |
Ares Sdl Fund | 12/30/21 | $282,416 |
Us Trust | 12/30/21 | $91,247 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $66,337,430 |
| Interest on Savings | $0 |
| Dividends & Interest | $2,400,338 |
| Net Rental Income | $2,134,269 |
| Net Gain on Sale of Assets | $11,085,579 |
| Capital Gain Net Income | $11,085,579 |
| Net ST Capital Gain | $0 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $0 |
| Other Income | $1,148,313 |
| Total Revenue | $83,685,489 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $252,231 |
| Other employee salaries and wages | $183,735 |
| Pension plans, employee benefits | $0 |
| Interest | $0 |
| Taxes | $498,335 |
| Depreciation | $581,024 |
| Occupancy | $0 |
| Travel, conferences, and meetings | $52,811 |
| Printing and publications | $0 |
| Other expenses | $272,795 |
| Total operating and administrative expenses | $3,051,396 |
| Contributions, gifts, grants paid | $5,626,717 |
| Total expenses and disbursements | $8,678,113 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $3,494,434 |
| Savings and temporary cash investments | $7,941,866 |
| Net Accounts receivable | $7,708 |
| 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 | $296,581 |
| Net Investments - land, buildings, equipment | $41,057,773 |
| Investments—mortgage loans | $0 |
| Investments—other | $655,624 |
| Net Land, buildings, and equipment | $2,474,585 |
| Other assets | $54,675 |
| Total assets | $209,391,784 |
| 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 | $200,325 |
| Total liabilities | $200,325 |
Grants Awarded
Over the last fiscal year, The H Hovnanian Family Foundation has awarded $5,688,782 in support to 72 organizations.
| Grant Recipient | Amount |
|---|---|
HOVNANIAN SCHOOL PURPOSE: UNRESTRICTED GRANT TO SUPPORT THE ORGANIZATION'S EXEMPT PURPOSE. | $1,000,000 |
COMMUNITY MEDICAL CENTER FOUNDATION PURPOSE: UNRESTRICTED GRANT TO SUPPORT THE ORGANIZATION'S EXEMPT PURPOSE. | $1,000,000 |
Edison, NJ PURPOSE: UNRESTRICTED GRANT TO SUPPORT THE ORGANIZATION'S EXEMPT PURPOSE. | $1,000,000 |
BIRTHRIGHT ARMENIA PURPOSE: UNRESTRICTED GRANT TO SUPPORT THE ORGANIZATION'S EXEMPT PURPOSE. | $672,000 |
THE INSTITUTE OF INTERNATIONAL EDUCATION PURPOSE: UNRESTRICTED GRANT TO SUPPORT THE ORGANIZATION'S EXEMPT PURPOSE. | $293,606 |
UNIVERSITY OF MICHIGAN PURPOSE: UNRESTRICTED GRANT TO SUPPORT THE ORGANIZATION'S EXEMPT PURPOSE. | $250,000 |
Grants Recieved
Over the last fiscal year, we have identified 1 grants that The H Hovnanian Family Foundation has recieved totaling $92,000.
| Awarding Organization | Amount |
|---|---|
Jirair S And Elizabeth Hovnanian Foundation Inc Mount Laurel, NJ PURPOSE: UNRESTRICTED | $92,000 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
John R Oishei Foundation Buffalo, NY | $294,151,477 | $18,357,929 |
Lor Foundation Inc West Chester, PA | $352,392,197 | $12,888,892 |
Grable Foundation Pittsburgh, PA | $386,701,292 | $35,946,563 |
Connelly Foundation West Conshohocken, PA | $387,913,026 | $27,891,431 |
American Express Foundation New York, NY | $66,234,265 | $62,922,703 |
Essel Foundation Inc Purchase, NY | $100,106,056 | $12,292,478 |
Beth And Ravenel Curry Foundation New York, NY | $0 | $44,744,046 |
Kz Family Foundation New York, NY | $10,936,301 | $30,139,672 |
The Freeman Foundation P-01644-00-7 New York, NY | $343,405,683 | $35,941,951 |
Hearst Foundation Inc New York, NY | $439,249,947 | $42,040,987 |
Bay And Paul Foundations Inc Wilmington, DE | $33,659,644 | $890,121 |
Tansy Charitable Foundation New York, NY | $325,076,608 | $77,631,295 |