H7 Foundation
- Assets
- $32.9m
- Revenue
- $8.5m
- Investments
- $20.7m
- Employees
- 0
- Location
- Charlottesville, VA
- Founding
- Data as of
- 12/2022
- EIN
- 62-1668517
Organization Overview
H7 Foundation is located in Charlottesville, VA. 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. H7 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, H7 Foundation generated $8.5m in total revenue. This represents relatively stable growth, over the past 5 years the organization has increased revenue by an average of 6.9% each year. All expenses for the organization totaled $3.0m 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
THE FOUNDATION IS NOT INVOLVED IN ANY DIRECT CHARITABLE ACTIVITIES. IT'S PRIMARY PURPOSE IS TO SUPPORT, BY CONTRIBUTIONS, OTHER 501(C)(3) EXEMPT ORGANIZATIONS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Robert D Hardie Director | 1 | $0 | |
Molly G Hardie Director | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $0 |
| Interest on Savings | $27,781 |
| Dividends & Interest | $196,537 |
| Net Rental Income | $0 |
| Net Gain on Sale of Assets | $8,633,098 |
| Capital Gain Net Income | $8,633,098 |
| Net ST Capital Gain | $0 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $0 |
| Other Income | -$343,516 |
| Total Revenue | $8,513,900 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $0 |
| Other employee salaries and wages | $0 |
| Pension plans, employee benefits | $0 |
| Interest | $111,768 |
| Taxes | $3,068 |
| Depreciation | $0 |
| Occupancy | $0 |
| Travel, conferences, and meetings | $0 |
| Printing and publications | $0 |
| Other expenses | $226,839 |
| Total operating and administrative expenses | $350,075 |
| Contributions, gifts, grants paid | $2,647,180 |
| Total expenses and disbursements | $2,997,255 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $12,139,913 |
| 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 | $98,038 |
| Investments—mortgage loans | $0 |
| Investments—other | $9,288,942 |
| Net Land, buildings, and equipment | $0 |
| Other assets | $0 |
| Total assets | $32,901,829 |
| 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, H7 Foundation has awarded $8,442,424 in support to 2 organizations.
| Grant Recipient | Amount |
|---|---|
SEE ATTACHED LIST PURPOSE: GENERAL CHARITABLE PURPOSES | $2,209,750 |
THE COMMONWEALTH FOUNDATIONS PURPOSE: GENERAL CHARITABLE PURPOSES | $6,232,674 |