Karen And Rick Hargrove Foundation
- Assets
- $6.0m
- Revenue
- $2.5m
- Investments
- $5.3m
- Employees
- 0
- Location
- La Selva Beach, CA
- Founding
- 05/2002
- Data as of
- 06/2024
- EIN
- 77-0587271
Organization Overview
Karen And Rick Hargrove Foundation is located in La Selva Beach, CA. The organization was established in 2002. 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. Karen And Rick Hargrove 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, Karen And Rick Hargrove Foundation generated $2.5m in total revenue. All expenses for the organization totaled $1.9m during the year ending 06/2024. While expenses have increased by 77.6% 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.
Since 2018, Karen And Rick Hargrove Foundation has awarded 34 individual grants totaling $5,131,373. 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 |
|---|---|---|---|
Richard Hargrove President | 8 | $0 | |
Karen Hargrove Treasurer | 8 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $0 |
| Interest on Savings | $0 |
| Dividends & Interest | $52,339 |
| Net Rental Income | $0 |
| Net Gain on Sale of Assets | $2,403,390 |
| Capital Gain Net Income | $2,403,390 |
| Net ST Capital Gain | $0 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $0 |
| Other Income | $0 |
| Total Revenue | $2,455,729 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $0 |
| Other employee salaries and wages | $0 |
| Pension plans, employee benefits | $0 |
| Interest | $0 |
| Taxes | $9,768 |
| Depreciation | $0 |
| Occupancy | $0 |
| Travel, conferences, and meetings | $0 |
| Printing and publications | $0 |
| Other expenses | $0 |
| Total operating and administrative expenses | $11,068 |
| Contributions, gifts, grants paid | $1,850,598 |
| Total expenses and disbursements | $1,861,666 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $715,041 |
| 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 | $0 |
| Net Land, buildings, and equipment | $0 |
| Other assets | $0 |
| Total assets | $5,989,051 |
| 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, Karen And Rick Hargrove Foundation has awarded $1,850,598 in support to 4 organizations.
| Grant Recipient | Amount |
|---|---|
STANFORD UNIVERSITY -HOOVER INSTITU PURPOSE: EDUCATION | $750,000 |
NAVY POSTGRADUATE SCHOOL FOUNDATION PURPOSE: EDUCATION | $1,000,000 |
BOYS GIRLS CLUBS OF MONTEREY PURPOSE: CHILDREN SERVICES | $69,098 |
THE SPCA FOR MONTEREY COUNTY PURPOSE: ANIMAL PROTECTION | $31,500 |