Alabama Restaurant & Hospitality Association Foundation
- Assets
- $348.6k
- Revenue
- $23.6k
- Investments
- $100.0k
- Employees
- 0
- Location
- Montgomery, AL
- Founding
- 10/1989
- Data as of
- 12/2022
- EIN
- 63-0977617
Organization Overview
Alabama Restaurant & Hospitality Association Foundation is located in Montgomery, AL. The organization was established in 1989. According to its NTEE Classification (K11) the organization is classified as: Single Organization Support, under the broad grouping of Food, Agriculture & Nutrition and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Alabama Restaurant & Hospitality Association 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, Alabama Restaurant & Hospitality Association Foundation generated $23.6k in total revenue. This represents a relatively dramatic decline in revenue. Over the past 6 years, the organization has seen revenues fall by an average of (8.5%) each year. All expenses for the organization totaled $390.3k during the year ending 12/2022. You can explore the organizations financials more deeply in the financial statements section below.
Since 2014, Alabama Restaurant & Hospitality Association Foundation has awarded 87 individual grants totaling $191,428. 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.
Form
990PF
Mission & Program ActivityExcerpts From the 990PF Filing
TAX YEAR
2022
Describe the Organization's Program Activity:
Part 3 - Line 4a
PROSTART IS A NATIONWIDE, TWO-YEAR PROGRAM FOR HIGH SCHOOL STUDENTS THAT DEVELOPS THE BEST AND BRIGHTEST TALENT INTO TOMORROW'S INDUSTRY LEADERS. THE FOUNDATION CONDUCTS THE PROGRAM IN THE STATE OF ALABAMA WHICH GIVES ALABAMA STUDENTS A PLATFORM TO DISCOVER NEW INTERESTS AND TALENTS AND OPENS DOORS FOR FULFILLING CAREERS. THE PROGRAM INCLUDES A CULINARY COMPETITION WHICH SHOWCASES THE CULINARY, MANAGEMENT AND ACADEMIC TALENTS OF STUDENTS FROM HIGH SCHOOLS ACROSS THE STATE.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Nick Hartman Chairman | 0 | $0 | |
Wayne Reaves Executive Committee Member | 0 | $0 | |
Brandt Tucker Executive Committee Member | 0 | $0 | |
Toby Wilson Executive Committee Member | 0 | $0 | |
Bill Lloyd Executive Committee Member | 0 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $7,735 |
| Interest on Savings | $0 |
| Dividends & Interest | $2,392 |
| Net Rental Income | $0 |
| Net Gain on Sale of Assets | $0 |
| Capital Gain Net Income | $0 |
| Net ST Capital Gain | $0 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $0 |
| Other Income | $13,500 |
| Total Revenue | $23,627 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $0 |
| Other employee salaries and wages | $0 |
| Pension plans, employee benefits | $0 |
| Interest | $0 |
| Taxes | $8 |
| Depreciation | $0 |
| Occupancy | $0 |
| Travel, conferences, and meetings | $0 |
| Printing and publications | $0 |
| Other expenses | $306,705 |
| Total operating and administrative expenses | $321,631 |
| Contributions, gifts, grants paid | $68,655 |
| Total expenses and disbursements | $390,286 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $242,284 |
| Savings and temporary cash investments | $6,247 |
| 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 | $100,021 |
| Net Land, buildings, and equipment | $0 |
| Other assets | $0 |
| Total assets | $348,552 |
| 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 | $17,803 |
| Total liabilities | $17,803 |
Grants Awarded
Over the last fiscal year, Alabama Restaurant & Hospitality Association Foundation has awarded $68,655 in support to 23 organizations.
| Grant Recipient | Amount |
|---|---|
ALBERTVILLE HIGH SCHOOL PURPOSE: PROSTART PROGRAM CONTRIBUTION | $4,500 |
AUBURN HIGH SCHOOL PURPOSE: PROSTART PROGRAM CONTRIBUTION | $2,200 |
CAREER ACADEMIES OF DECATUR PURPOSE: PROSTART PROGRAM CONTRIBUTION | $5,500 |
COASTAL ALABAMA COMMUNITY COLLEGE PURPOSE: EDUCATIONAL SCHOLARSHIP | $4,500 |
HUNTSVILLE CENTER FOR TECHNOLOGY PURPOSE: PROSTART PROGRAM CONTRIBUTION | $5,000 |
GULF SHORES HIGH SCHOOL PURPOSE: PROSTART PROGRAM CONTRIBUTION | $2,500 |