Howard Fund
- Assets
- $8.0m
- Revenue
- $296.8k
- Investments
- $7.8m
- Employees
- 0
- Location
- Chattanooga, TN
- Founding
- 03/2017
- Data as of
- 12/2022
- EIN
- 81-3722308
Organization Overview
Howard Fund is located in Chattanooga, TN. The organization was established in 2017. 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. Howard Fund is a 501(c)(3) and as such, is described as a "Charitable or Religous organization or a private foundation" by the IRS.
Since 2017, Howard Fund has awarded 41 individual grants totaling $2,222,500. 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
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2022
Describe the Organization's Mission:
Part 3 - Line 1
THE FUND IS A SUPPORTING ORGANIZATION FOR THE COMMUNITY FOUNDATION OF GREATER CHATTANOOGA, INC. WHOSE MISSION IS TO INSPIRE GIVING AND ENCOURAGE ACTION TO IMPROVE LIVES IN THE GREATER CHATTANOOGA AREA.
Describe the Organization's Program Activity:
Part 3 - Line 4a
PROVIDING SCHOLARSHIPS AND FUNDS FOR AREA BEAUTIFICATION, DOWNTOWN DEVELOPMENT, HEALTH RELATED ISSUES, CIVIC AND CULTURAL IMPROVEMENTS, AND EDUCATIONAL AND HUMANITARIAN PROGRAMS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Joseph H Davenport III President | OfficerTrustee | 4 | $0 |
Joseph H Davenport IV Secretary And Treasurer | OfficerTrustee | 4 | $0 |
Ted Alling Director | Trustee | 1 | $0 |
Ben Probasco Director | Trustee | 1 | $0 |
Lesley Scearce Director | Trustee | 1 | $0 |
Maeghan Jones President - Cfgc | 1 | $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 | $296,820 |
| Noncash contributions included in lines 1a–1f | $296,820 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $296,820 |
| Total Program Service Revenue | $0 |
| Investment income | $0 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $296,820 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $450,000 |
| 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. | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $0 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $0 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $720 |
| Fees for services: Accounting | $3,296 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $50,000 |
| Advertising and promotion | $0 |
| Office expenses | $0 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $789 |
| All other expenses | $34 |
| Total functional expenses | $504,839 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $129,587 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $50,000 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $0 |
| Net Land, buildings, and equipment | $0 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $7,785,942 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $7,965,529 |
| Accounts payable and accrued expenses | $0 |
| Grants payable | $255,000 |
| Deferred revenue | $0 |
| 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 | $0 |
| Total liabilities | $255,000 |
| Net assets without donor restrictions | $7,710,529 |
| Net assets with donor restrictions | $0 |
| 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 | $7,965,529 |
Grants Awarded
Over the last fiscal year, Howard Fund has awarded $265,000 in support to 10 organizations.
| Grant Recipient | Amount |
|---|---|
HABITAT FOR HUMANITY OF GREATER CHATTANOOGA AREA INC PURPOSE: CHARITY | $15,000 |
TENNESSEE AQUARIUM PURPOSE: CHARITY | $25,000 |
A STEP AHEAD FOUNDATION CHATTANOOGA INC PURPOSE: CHARITY | $25,000 |
HAMILTON COUNTY DEPARTMENT OF EDUCATION PURPOSE: CHARITY | $50,000 |
HELEN ROSS MCNABB CENTER PURPOSE: CHARITY | $25,000 |
HELP RIGHT HERE PURPOSE: CHARITY | $15,000 |