Hoveida Family Foundation
- Assets
- $66.5m
- Revenue
- -$1.6m
- Investments
- $56.7m
- Employees
- 0
- Location
- Bainbridge Island, WA
- Founding
- Data as of
- 12/2022
- EIN
- 85-4041310
Organization Overview
Hoveida Family Foundation is located in Bainbridge Island, WA. According to its NTEE Classification (T22) the organization is classified as: Private Independent 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. Hoveida Family Foundation is a 501(c)(3) and as such, is described as a "Charitable or Religous organization or a private foundation" by the IRS.
Form
990PF
Mission & Program ActivityExcerpts From the 990PF Filing
TAX YEAR
2022
Describe the Organization's Program Activity:
Part 3 - Line 4a
DEDICATE TO THE PROMOTION OF SCIENTIFIC AND ENGINEERING EDUCATION AND RESEARCH TO MAKE THE WORLD A BETTER PLACE FOR ALL HUMANITY AND ALL LIVING THINGS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Bahman Hoveida President | 1 | $0 | |
Rebecca Hoveida Vice President | 1 | $0 | |
Amethyst Lucille Nelson Secretary Treasurer | 20 | $34,375 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Wells Fargo | 12/30/22 | $94,730 |
Jp Morgan | 12/30/22 | $54,433 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $0 |
| Interest on Savings | $19,262 |
| Dividends & Interest | $1,086,695 |
| Net Rental Income | $0 |
| Net Gain on Sale of Assets | -$2,706,673 |
| Capital Gain Net Income | $0 |
| Net ST Capital Gain | $0 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $0 |
| Other Income | $0 |
| Total Revenue | -$1,600,716 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $34,375 |
| Other employee salaries and wages | $0 |
| Pension plans, employee benefits | $0 |
| Interest | $0 |
| Taxes | $37,983 |
| Depreciation | $0 |
| Occupancy | $0 |
| Travel, conferences, and meetings | $0 |
| Printing and publications | $0 |
| Other expenses | $70 |
| Total operating and administrative expenses | $333,914 |
| Contributions, gifts, grants paid | $4,038,500 |
| Total expenses and disbursements | $4,372,414 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $190,197 |
| Savings and temporary cash investments | $9,656,358 |
| 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 | $129,169 |
| Net Land, buildings, and equipment | $0 |
| Other assets | $13,143 |
| Total assets | $66,540,139 |
| 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, Hoveida Family Foundation has awarded $4,038,500 in support to 7 organizations.
| Grant Recipient | Amount |
|---|---|
FIREFLY SISTERHOOD PURPOSE: FUNDING PROVIDES SUPPORT FOR BREAST CANCER SURVIVORS WITH ONE-TO-ONE SOCIAL AND EMOTIONAL SUPPORT TO WOMEN WHO HAVE BEEN IMPACTED BY A BREAST CANCER DIAGNOSIS | $28,500 |
INSTITUTE OF ELECTRICAL AND ELECTRONICS ENGINEERS INC DBA IEEE PURPOSE: HELP BUILD THE NEXT GENERATION OF POWER AND ENERGY ENGINEERS BY PROVIDING FINANCIAL SUPPORT AND CAREER OPPORTUNITIES TO IEEE STUDENTS | $250,000 |
UNIVERSITY OF ILLINOIS FOUNDATION PURPOSE: TECHNOLOGY ENTREPRENEUR CENTER PRIORITY FUND. SPECIFIC 2022/2023 INITIATIVES INCLUDE:O COZAD COMPETITION AWARDS (SAFE AGREEMENTS)O SILICON VALLEY STUDENT TRIPO SCHOLARSHIP FUNDING FOR STUDENTS INVOLVED IN THE INNOVATION, LEADERSHIP, AND ENGINEERING ENTREPRENEURSHIP (ILEE) PROGRAM - STUDENTS IN THE ILEE PROGRAM NEED TO SPEND AN ADDITION SEMESTER IN SCHOOL. THE SCHOLARSHIPS WOULD HELP OFFSET THE ADDITIONAL COSTS INCURRED OF THE ADDITIONAL SEMESTER.O PROTOTYPING FUNDS FOR ILEE STUDENTS TO USE MAKER SPACES (SIEBEL CENTER FOR DESIGN, SIDNEY LU INNOVATION SPACE, ETC.)O FUNDING TO SUPPORT TEC STUDENT PROGRAMMING AND INCREASING PARTICIPATION IN PROGRAMMING | $250,000 |
MAYO CLINIC PURPOSE: FUNDING RESEARCH FOR ARTIFICIAL INTELLIGENCE FOR MEDICINE, IMPROVEMENTS IN TREATMENTS OR CURES FOR AUTO-IMMUNE DISEASE, CROHN'S, CANCER, DIABETES | $2,000,000 |
UNIVERSITY OF WASHINGTON FOUNDATION PURPOSE: ALL GIFTS TO THE UNIVERSITY OF WASHINGTON, INCLUDING UW MEDICINE ARE MADE TO THE UW FOUNDATION. UW MEDICINE INCLUDES-THE UW SCHOOL OF MEDICINE, UW MEDICAL CENTER, HARBORVIEW MEDICAL CENTER, NORTHWEST HOSPITAL & MEDICAL CENTER (INCLUDING THE NEW BHTF), UW PHYSICIANS, UW NEIGHBORHOOD CLINICS, VALLEY MEDICAL CENTER, AND AIRLIFT NORTHWEST | $500,000 |
HILO MEDICAL CENTER FOUNDATION PURPOSE: SUPPORT THE HILO MEDICAL CENTER WITH PROJECTS THAT BENEFIT THE GREATER COMMUNITY. FUNDING MENTAL HEALTH CARE, DRUG REHABILITATION, MEDICAL FACILITY/EQUIPMENT IMPROVEMENTS, HOUSING GRANTS FOR MEDICAL PROFESSIONALS, SCHOLARSHIPS | $1,000,000 |