Hoag Foundation
- Assets
- $108.8m
- Revenue
- $7.3m
- Investments
- $86.6m
- Employees
- 0
- Location
- Long Beach, CA
- Founding
- 08/1991
- Data as of
- 12/2023
- EIN
- 95-4315096
Organization Overview
Hoag Foundation is located in Long Beach, CA. The organization was established in 1991. 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. Hoag 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 12/2023, Hoag Foundation generated $7.3m in total revenue. This represents a relatively dramatic decline in revenue. Over the past 9 years, the organization has seen revenues fall by an average of (25.3%) each year. All expenses for the organization totaled $7.3m during the year ending 12/2023. You can explore the organizations financials more deeply in the financial statements section below.
Since 2015, Hoag Foundation has awarded 363 individual grants totaling $43,764,847. 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 |
|---|---|---|---|
Douglas K Freeman President | 5 | $50,000 | |
Robert W Latimer Secretary/treasurer | 5 | $50,000 | |
Whit Latimer Director | 5 | $25,000 | |
Mark Latimer Director | 5 | $25,000 | |
Dr Darren Freeman Director | 5 | $25,000 | |
Brett Freeman Director | 5 | $25,000 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $0 |
| Interest on Savings | $101,494 |
| Dividends & Interest | $1,635,544 |
| Net Rental Income | $924,023 |
| Net Gain on Sale of Assets | $4,035,443 |
| Capital Gain Net Income | $4,035,443 |
| Net ST Capital Gain | $0 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $0 |
| Other Income | $0 |
| Total Revenue | $7,267,338 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $225,000 |
| Other employee salaries and wages | $0 |
| Pension plans, employee benefits | $0 |
| Interest | $0 |
| Taxes | $0 |
| Depreciation | $570,834 |
| Occupancy | $0 |
| Travel, conferences, and meetings | $0 |
| Printing and publications | $0 |
| Other expenses | $2,095 |
| Total operating and administrative expenses | $1,410,686 |
| Contributions, gifts, grants paid | $5,865,967 |
| Total expenses and disbursements | $7,276,653 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $1,556,805 |
| Savings and temporary cash investments | $0 |
| 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 | $764,068 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $0 |
| Net Investments - land, buildings, equipment | $18,919,697 |
| Investments—mortgage loans | $0 |
| Investments—other | $86,598,164 |
| Net Land, buildings, and equipment | $0 |
| Other assets | $937,511 |
| Total assets | $108,776,245 |
| Accounts payable and accrued expenses | $9,000 |
| Grants payable | $2,183,010 |
| Deferred revenue | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Mortgages and other notes payable | $0 |
| Other liabilities | $190,140 |
| Total liabilities | $2,382,150 |
Grants Awarded
Over the last fiscal year, Hoag Foundation has awarded $7,865,967 in support to 50 organizations.
| Grant Recipient | Amount |
|---|---|
OLIVE CREST PURPOSE: COMMUNITY PROGRAMS | $333,333 |
YMCA OF LA (DOWNEY) PURPOSE: COMMUNITY PROGRAMS | $333,333 |
COURT APPOINTED SPECIAL ADVOCATE (CASA) PURPOSE: COMMUNITY PROGRAMS | $25,000 |
THE BOLO PROJECT PURPOSE: COMMUNITY PROGRAMS | $3,665 |
NATIONAL 4-H COUNCIL PURPOSE: COMMUNITY PROGRAMS | $50,000 |
BIG BROTHERS BIG SISTERS ORANGE COUNTY & INLAND EMPIRE PURPOSE: COMMUNITY PROGRAMS | $105,000 |