Hatch Inc
- Assets
- $807.5k
- Revenue
- $3.3m
- Investments
- $0.0
- Employees
- 8
- Location
- Carmel, IN
- Founding
- 05/2018
- Data as of
- 12/2023
- EIN
- 82-3274925
Organization Overview
Hatch Inc is located in Carmel, IN. The organization was established in 2018. According to its NTEE Classification (K30) the organization is classified as: Food Programs, under the broad grouping of Food, Agriculture & Nutrition and related organizations. As of 12/2023, Hatch Inc employed 8 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Hatch Inc 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 12/2023, Hatch Inc generated $3.3m in total revenue. This organization has experienced exceptional growth, as over the past 5 years, it has increased revenue by an average of 59.2% each year . All expenses for the organization totaled $3.4m during the year ending 12/2023. While expenses have increased by 56.8% per year over the past 5 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 2022, Hatch Inc has awarded 52 individual grants totaling $3,348,585. 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
2023
Describe the Organization's Mission:
Part 3 - Line 1
HATCH FOR HUNGER IS A NEW WAY TO FIGHT HUNGER THAT MAKES IT EASY FOR CONSUMERS, GROCERY STORES, AND LOCAL FARMERS TO PROVIDE QUALITY PROTEIN TO UNDERNOURISHED PEOPLE OF ALL AGES.
Describe the Organization's Program Activity:
Part 3 - Line 4a
PROVIDE QUALITY PROTEIN TO UNDERNOURISHED PEOPLE OF ALL AGES.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Jeff Simmons Chair | OfficerTrustee | 2 | $0 |
Tim Hassinger Vice Chair | OfficerTrustee | 2 | $0 |
Alan Dorantes Board Member | Trustee | 2 | $0 |
Bailey Rayford Board Member | Trustee | 2 | $0 |
Mitch Frazier Board Member | Trustee | 2 | $0 |
Marcus Rust Board Member | 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 | $2,003,158 |
| Noncash contributions included in lines 1a–1f | $1,923,027 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $2,003,158 |
| Total Program Service Revenue | $0 |
| Investment income | $1 |
| 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 | $1,256,197 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $3,259,356 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $1,923,867 |
| 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. | $344,467 |
| Compensation of current officers, directors, key employees. | $176,467 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $292,715 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $46,848 |
| Payroll taxes | $52,871 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $10,900 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $365,756 |
| Advertising and promotion | $95,911 |
| Office expenses | $17,523 |
| Information technology | $10,774 |
| Royalties | $0 |
| Occupancy | $22,753 |
| Travel | $45,544 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $29,584 |
| Interest | $17,297 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $5,209 |
| All other expenses | $0 |
| Total functional expenses | $3,448,709 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $23,258 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $784,215 |
| 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 | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $807,473 |
| Accounts payable and accrued expenses | $736,031 |
| Grants payable | $0 |
| 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 | $300,000 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $0 |
| Total liabilities | $1,036,031 |
| Net assets without donor restrictions | -$228,558 |
| 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 | $807,473 |
Grants Awarded
Over the last fiscal year, Hatch Inc has awarded $1,381,924 in support to 19 organizations.
| Grant Recipient | Amount |
|---|---|
ATLANTA COMMUNITY FOOD BANK PURPOSE: PROVIDE PROTEIN AT LOW OR NO COST IN UNDERSERVED COMMUNITIES | $12,542 |
CATHOLIC CHARITIES OF TERRE HAUTE PURPOSE: PROVIDE PROTEIN AT LOW OR NO COST IN UNDERSERVED COMMUNITIES | $33,629 |
FOOD BANK OF CENTRAL & EASTERN NORTH CAROLINA PURPOSE: PROVIDE PROTEIN AT LOW OR NO COST IN UNDERSERVED COMMUNITIES | $35,657 |
FOOD BANK OF THE ALBEMARLE PURPOSE: PROVIDE PROTEIN AT LOW OR NO COST IN UNDERSERVED COMMUNITIES | $13,008 |
FOOD FINDERS FOOD BANK PURPOSE: PROVIDE PROTEIN AT LOW OR NO COST IN UNDERSERVED COMMUNITIES | $97,288 |
GREATER PITTSBURGH COMMUNITY FOOD BANK PURPOSE: PROVIDE PROTEIN AT LOW OR NO COST IN UNDERSERVED COMMUNITIES | $21,355 |