Homer Foundation
- Assets
- $5.1m
- Revenue
- $1.1m
- Investments
- $0.0
- Employees
- 3
- Location
- Homer, AK
- Founding
- 05/1992
- Data as of
- 06/2022
- EIN
- 92-0139183
Organization Overview
Homer Foundation is located in Homer, AK. The organization was established in 1992. According to its NTEE Classification (O40) the organization is classified as: Scouting, under the broad grouping of Youth Development and related organizations. As of 06/2022, Homer Foundation employed 3 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Homer 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 06/2022, Homer Foundation generated $1.1m in total revenue. This organization has experienced exceptional growth, as over the past 7 years, it has increased revenue by an average of 23.3% each year . All expenses for the organization totaled $635.0k during the year ending 06/2022. While expenses have increased by 14.3% per year over the past 7 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 2015, Homer Foundation has awarded 68 individual grants totaling $889,763. 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
TO ENHANCE THE QUALITY OF LIFE FOR THE CITIZENS OF THE GREATER HOMER AREA BY PROMOTING PHILANTHROPIC AND CHARITABLE ACTIVITIES.
Describe the Organization's Program Activity:
Part 3 - Line 4a
YEAR-ROUND GRANTS PROGRAM TO SUPPORT CHARITABLE ACTIVITIES IN THE COMMUNITY.
ALL OTHER PROGRAMS.
HOMER FOUNDATION COMMUNITY CHEST, BENEFITING HOMER COMMUNITY FOOD PANTRY'S EMERGENCY NON FOOD AIDE TO INDIVIDUALS IN OUR COMMUNITY.
CITY OF HOMER GRANTS PROGRAM TO SUPPORT TAX EXEMPT ORGANIZATIONS PROVIDING PROGRAMS AND SERVICES WITHIN THE CITY OF HOMER.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Michael Miller Executive Di | Officer | 40 | $61,000 |
Van Hawkins President | OfficerTrustee | 3 | $0 |
Denise Pitzman Vice - Presi | OfficerTrustee | 2 | $0 |
Paula Martin Treasurer | OfficerTrustee | 2 | $0 |
Ken Taylor Secretary | OfficerTrustee | 1 | $0 |
Terri Spigelmyer Trustee | Trustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $6,052 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $46,000 |
| All other contributions, gifts, grants, and similar amounts not included above | $967,750 |
| Noncash contributions included in lines 1a–1f | $45,003 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $1,019,802 |
| Total Program Service Revenue | $0 |
| Investment income | $118,353 |
| 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 | $1,365 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $1,139,520 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $274,212 |
| Grants and other assistance to domestic individuals. | $15,000 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $62,500 |
| Compensation of current officers, directors, key employees. | $25,000 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $21,953 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $270 |
| Payroll taxes | $6,881 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $3,925 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $22,470 |
| Fees for services: Other | $233,863 |
| Advertising and promotion | $13,532 |
| Office expenses | $20,381 |
| 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 | $6,273 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $3,925 |
| All other expenses | $0 |
| Total functional expenses | $635,043 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $5,669 |
| Savings and temporary cash investments | $316,998 |
| 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 | $13,968 |
| Prepaid expenses and deferred charges | $0 |
| Net Land, buildings, and equipment | $0 |
| Investments—publicly traded securities | $4,725,178 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $5,061,813 |
| Accounts payable and accrued expenses | $1,702 |
| Grants payable | $60,002 |
| Deferred revenue | $38,400 |
| 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 | $297,350 |
| Total liabilities | $397,454 |
| Net assets without donor restrictions | $3,915,471 |
| Net assets with donor restrictions | $748,888 |
| 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 | $5,061,813 |
Grants Awarded
Over the last fiscal year, Homer Foundation has awarded $142,741 in support to 11 organizations.
| Grant Recipient | Amount |
|---|---|
BUNNELL STREET ART PURPOSE: ARTS BY AIR | $7,000 |
HOMER COMMUNITY FOOD PANTRY PURPOSE: EMRGY NON-FOOD AIDE | $50,969 |
HOMER COUNCIL ON THE ARTS PURPOSE: ARTS EDUCATION | $10,733 |
HOMER HOCKEY ASSOCIATION PURPOSE: OPERATING SUPPORT | $5,572 |
KACHEMAK BAY CONSERVATION SOCIETY PURPOSE: PEATLAND PART 2 | $12,000 |
KACHEMAK BAY FAMILY PLANNING PURPOSE: OPERATING SUPPORT | $7,503 |