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← HOFFMAN INSTITUTE SUPPORTINGFOUNDATION

Form 990 for tax year 2023

Filed by HOFFMAN INSTITUTE SUPPORTINGFOUNDATION.

Totals

Total revenue
$4,538,188
Total expenses
$1,103,874
Contributions and grants received
$4,500,000
Grants paid
$0
Program service revenue
$15,000
Investment income
$23,188
Other revenue
$0
Total assets, end of year
$23,242,792
Total liabilities, end of year
$6,008,779
Net assets or fund balances, end of year
$17,234,013
Program services expenses (Part IX)
$0
Management and general expenses
$1,090,374
Fundraising expenses
$13,500
Program service expenses (Part III)
not reported

Program services were 0.0% of total expenses calculated — Part IX's program-services column over total expenses, both as filed.

Line items

Every line the filer filed in Parts VIII, IX and X, as filed and in filed order. Blank columns are left out, and the lines are not forced to add up to the totals above.

Revenue

Part VIII, the statement of revenue.

  • 1d · Related organizations

    $4,500,000

  • 2a · Program service revenue: RENTAL INCOME FROM HIF

    total $15,000 · related or exempt $15,000

  • 3 · Investment income

    total $8,188 · excluded $8,188

  • 7a · Gross sales of assets other than inventory

    other assets $15,000

  • 7b · Less cost or other basis and sales expenses

    other assets $0

  • 7c · Gain or loss

    other assets $15,000

  • 7d · Net gain or loss

    total $15,000 · excluded $15,000

Functional expenses

Part IX, the statement of functional expenses.

  • 11b · Fees: legal

    total $126,536 · management and general $126,536

  • 11c · Fees: accounting

    total $6,675 · management and general $6,675

  • 11e · Fees: professional fundraising services

    total $13,500 · fundraising $13,500

  • 13 · Office expenses

    total $15,000 · management and general $15,000

  • 16 · Occupancy

    total $20,144 · management and general $20,144

  • 20 · Interest

    total $561,610 · management and general $561,610

  • 22 · Depreciation, depletion and amortization

    total $358,682 · management and general $358,682

  • 23 · Insurance

    total $1,727 · management and general $1,727

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $1,972,002 · end of year $56,798

  • 2 · Savings and temporary cash investments

    beginning of year $150,016 · end of year $1,054,309

  • 10a · Land, buildings and equipment: cost or other basis

    $22,829,406

  • 10b · Land, buildings and equipment: accumulated depreciation

    $697,721

  • 10c · Land, buildings and equipment, net

    beginning of year $21,720,281 · end of year $22,131,685

  • 17 · Accounts payable and accrued expenses

    beginning of year $42,600 · end of year $8,779

  • 23 · Secured mortgages and notes payable

    beginning of year $10,000,000 · end of year $6,000,000

  • 27 · Net assets without donor restrictions

    beginning of year $13,799,699 · end of year $17,234,013

Mission and programs · 2023

Mission

THE SPECIFIC AND PRIMARY PURPOSE OF THE SUPPORTING FOUNDATION IS TO ENGAGE IN CHARITABLE AND EDUCATION ACTIVITIES THAT BENEFITS, PERFORMS THE FUNCTIONS OF, OR CARRIES OUT THE PURPOSE OF THE HOFFMAN INSTITUTE FOUNDATION.

Activities or mission (Part I)

THE SPECIFIC AND PRIMARY PURPOSE OF THE CORPORATION IS TO ENGAGE IN CHARITABLE AND EDUCATION ACTIVITIES THAT BENEFITS, PERFORMS THE FUNCTIONS OF, OR CARRIES OUT THE PURPOSE OF THE HOFFMAN INSTITUTE FOUNDATION.

  • THE KEY ACTIVITIES IN 2023 WERE THE RECEIPT OF PASSTHROUGH GRANT OF $4.5MM FROM HOFFMAN INSTITUTE FOUNDATION TO FUND A $4MM PAYDOWN OF THE BUSINESS LOAN WITH CITY NATIONAL BANK AND SEVERAL CAPITAL IMPROVEMENTS TO THE THE HOFFMAN RETREAT CENTER (HRC) SITE. THESE PROJECTS INCLUDE COMPLETION OF THE ALL SITE GENERATOR, STRUCTURAL IMPROVEMENTS TO THE CLASSROOMS, ROADWAYS, ELECTRICAL AND LODGING FACILITIES. THE SITE WAS RENTED BY THE HOFFMAN INSTITUTE FOUNDATION AS AN INTERIM RETREAT SITE FOLLOWING THE FIRE LOSS OF WHITE SULPHUR SPRINGS IN SEPTEMBER 2020. IMPROVEMENTS TO THIS 194 ACRE SITE ENABLES THE FOUNDATION TO INCREASE OPERATIONAL CAPACITY.

    Revenue $15,000

As filed on the 2023 return.

Listed in Part VII

  • Charles Ingrasci

    PRESIDENT/CHAIRMAN

    Total calculated
    $172,452
    From this org
    $0
    From related orgs
    $159,979
    Other
    $12,473
    Hours/week
    1 + 40 related

    Schedule J breakdown matched by us

    Base
    $0 + $157,111 related
    Bonus
    $0 + $2,868 related
    Other
    $0
    Deferred
    $0
    Nontaxable benefits
    $0 + $12,473 related
    Filer's total
    $0 + $172,452 related

  • Bernard Tarr

    VICE PRESIDENT/TREASURER

    Total calculated
    $0
    Hours/week
    0.3 + 1 related

  • Sharon Roe

    SECRETARY

    Total calculated
    $0
    Hours/week
    0.3

  • Cort Schwanebeck

    DIRECTOR

    Total calculated
    $0
    Hours/week
    0.3

  • Rich Cerick

    DIRECTOR

    Total calculated
    $0
    Hours/week
    0.3

Compensation is as filed in Part VII: reportable pay from this organization and from related organizations, other compensation, and hours per week. The total, marked calculated, is our sum of the three dollar columns, with a blank column counted as $0; the form itself has no total. On a Form 990-EZ the columns are Part IV's instead, and on a Form 990-PF Part VIII's — compensation, contributions to benefit plans, and expense account — and the total sums those. A Schedule J breakdown is as filed: base pay, bonus, other, deferred compensation and nontaxable benefits from this organization, with any from related organizations beside each, and the filer's own total. It is shown with the Part VII listing of the same name on the same return. The form gives no key between the two, so that pairing is ours, and is marked matched by us.

Schedule J

Answered yes

None.

Answered no

  • 4a · Severance or change-of-control payment
  • 4b · Supplemental nonqualified retirement plan
  • 4c · Equity-based compensation arrangement
  • 5a · Pay contingent on this organization's revenues
  • 5b · Pay contingent on a related organization's revenues
  • 6a · Pay contingent on this organization's net earnings
  • 6b · Pay contingent on a related organization's net earnings
  • 7 · Other non-fixed payments
  • 8 · Paid under the initial-contract exception

The filer's explanations (Part III)

PART I, LINE 3:
NO REVIEW OF COMPENSATION WAS REQUIRED SINCE NO OFFICERS WERE PAID BY THIS ORGANIZATION. A RELATED AND SUPPORTED ORGANIZATION, HOFFMAN INSTITUTE FOUNDATION, PERFORMS THE ANNUAL REVIEW PROCESS FOR THESE INDIVIDUALS AS APPLICABLE.

Part I's answers as filed. A line not listed was left unanswered; on lines 1a and 3 that means the box was not checked.

Grants on this return

No itemized grants to organizations on this return.

Related organizations on this return

Schedule R Part II: tax-exempt organizations related to the filer by control. It does not record shared board members or money.

Taxable family on this return

Schedule R Parts I, III and IV, as filed. These record ownership and control, not shared board members or money moved.

Related corporations and trusts

Part IV: related organizations taxable as a corporation or trust.

  • HOFFMAN INSTITUTE CANADA ULC

    C · EDUCATIONAL RETREATS · CA

    Directly controlled by HOFFMAN INSTITUTE FOUNDATION

Provenance

Return type
form_990
Tax year
2023
Filed
14 August 2024
IRS schema version
2023v5.1
Source object
202412289349302311

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