Hakone Foundation
- Assets
- $3.0m
- Revenue
- $1.8m
- Investments
- $0.0
- Employees
- 17
- Location
- Saratoga, CA
- Founding
- 11/1988
- Data as of
- 06/2024
- EIN
- 77-0054274
Organization Overview
Hakone Foundation is located in Saratoga, CA. The organization was established in 1988. According to its NTEE Classification (N30) the organization is classified as: Physical Fitness & Community Recreational Facilities, under the broad grouping of Recreation & Sports and related organizations. As of 06/2024, Hakone Foundation employed 17 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Hakone 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 06/2024, Hakone Foundation generated $1.8m in total revenue. This represents relatively stable growth, over the past 9 years the organization has increased revenue by an average of 7.1% each year. All expenses for the organization totaled $1.4m during the year ending 06/2024. While expenses have increased by 3.6% per year over the past 9 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.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2024
Describe the Organization's Mission:
Part 3 - Line 1
WE ARE DEDICATED TO CONSERVE AND ENHANCE HAKONE ESTATE AND GARDENS FOR THE ENJOYMENT AND BENEFIT OF THE PUBLIC, TO PRESERVE ITS JAPANESE AUTHENTICITY FOR FUTURE GENERATIONS, AND TO PROMOTE A DEEPER UNDERSTANDING OF ASIAN CULTURES AND TO SERVE AS A GLOBAL FORUM FOR ART, MUSIC, AND IDEAS.
Describe the Organization's Program Activity:
Part 3 - Line 4a
ONE OF THE NATIONAL TRUST FOR HISTORIC PRESERVATIONS PREMIER SITE AND 100 YEARS OLD, HAKONE IS ONE OF THE OLDEST JAPANESE ESTATE, RETREAT AND GARDENS IN THE WESTERN HEMISPHERE. HAKONE HAS ALSO BEEN ON THE NATIONAL REGISTER OF HISTORIC PLACES SINCE 2013. THE GARDEN IS 18 ACRES NESTLED ON THE VERDANT HILLS OF SARATOGA OVERLOOKING SILICON VALLEY. THIS TIMELESS OASIS OF PEACE PROVIDES THE PERFECT VENUE FOR WEDDINGS, BIRTHDAYS, BABY SHOWERS, FAMILY CELEBRATIONS AND MEMORIAL SERVICES. ADDITIONALLY, HAKONE HAS BECOME A FAVORITE DESTINATION FOR COMPANY RETREATS, OFFSITE BUSINESS MEETINGS, CORPORATE CONFERENCES AND SEMINARS. THE GARDEN CARRIES ON THE JAPANESE SPIRIT BY HOSTING ANNUAL EVENTS SUCH AS ORIGAMI, STORY TELLING, DOCENT TOUR/TEA CEREMONY, HINA (JAPANESE GIRL FESTIVAL), TANABATA (WISH UPON THE STAR FESTIVAL), TORO NAGASHI (FLOATING LANTERN CEREMONY), KADOMATSU WORKSHOP (JAPANESE NEW YEAR DECORATION), FLOWER ARRANGEMENT WORKSHOP, DAI-CHAKI AND LUNAR FESTIVAL.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Shozo Kagoshima Exeutive Director | Officer | 40 | $127,851 |
Kookie Fitzsimmons Trustee/city Council | Trustee | 2 | $0 |
Phyllis Tung Trustee | Trustee | 2 | $0 |
Sandy Miller Trustee | Trustee | 2 | $0 |
Beverly Harada Vice Chairperson | Trustee | 2 | $0 |
Emily Lo Chairperson | Trustee | 2 | $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 | $250,154 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $250,154 |
| Total Program Service Revenue | $1,401,938 |
| Investment income | $105,747 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | $3,040 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $85,426 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $1,849,105 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $0 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $127,851 |
| Compensation of current officers, directors, key employees. | $25,570 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $624,396 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $90,004 |
| Payroll taxes | $58,475 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $3,643 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $44,667 |
| Office expenses | $41,241 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $136,405 |
| Travel | $2,790 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $2,172 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $13,256 |
| Insurance | $14,918 |
| All other expenses | $0 |
| Total functional expenses | $1,372,237 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $124,056 |
| Savings and temporary cash investments | $2,700,000 |
| 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 | $26,437 |
| Prepaid expenses and deferred charges | $0 |
| Net Land, buildings, and equipment | $185,825 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $3,036,318 |
| Accounts payable and accrued expenses | $31,257 |
| Grants payable | $0 |
| Deferred revenue | $387,468 |
| 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 | $205,968 |
| Total liabilities | $624,693 |
| Net assets without donor restrictions | $2,030,035 |
| Net assets with donor restrictions | $381,590 |
| 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 | $3,036,318 |