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← THE HOUSE INSTITUTE FOUNDATION

Form 990 for tax year 2022

Filed by THE HOUSE INSTITUTE FOUNDATION.

Totals

Total revenue
$2,572,090
Total expenses
$2,552,536
Contributions and grants received
$2,334,954
Grants paid
$0
Program service revenue
$15,000
Investment income
$151,079
Other revenue
$71,057
Total assets, end of year
$9,249,761
Total liabilities, end of year
$2,284,024
Net assets or fund balances, end of year
$6,965,737
Program services expenses (Part IX)
$1,771,868
Management and general expenses
$470,825
Fundraising expenses
$309,843
Program service expenses (Part III)
$1,771,868

Program services were 69.4% 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.

  • 1f · All other contributions, gifts and grants

    $2,334,954

  • 2a · Program service revenue: PROGRAM SERVICE FEES

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

  • 3 · Investment income

    total $138,360 · excluded $138,360

  • 7a · Gross sales of assets other than inventory

    securities $330,000

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

    securities $317,281

  • 7c · Gain or loss

    securities $12,719

  • 7d · Net gain or loss

    total $12,719 · excluded $12,719

  • 11a · Other revenue: OTHER INCOME

    total $71,057 · related or exempt $71,057

  • 11e · Other revenue, total

    $71,057

Functional expenses

Part IX, the statement of functional expenses.

  • 5 · Compensation of officers, directors and key employees

    total $238,851 · program services $161,700 · management and general $37,881 · fundraising $39,270

  • 7 · Other salaries and wages

    total $1,038,132 · program services $721,609 · management and general $139,323 · fundraising $177,200

  • 9 · Other employee benefits

    total $122,825 · management and general $122,825

  • 10 · Payroll taxes

    total $93,475 · program services $66,364 · management and general $9,793 · fundraising $17,318

  • 11b · Fees: legal

    total $4,672 · program services $2,850 · management and general $1,822

  • 11c · Fees: accounting

    total $10,885 · management and general $10,885

  • 11g · Fees: other

    total $251,622 · program services $233,183 · management and general $16,525 · fundraising $1,914

  • 12 · Advertising and promotion

    total $137,904 · program services $12,331 · management and general $55,331 · fundraising $70,242

  • 13 · Office expenses

    total $41,373 · program services $15,538 · management and general $25,835

  • 16 · Occupancy

    total $263,034 · program services $236,692 · management and general $22,484 · fundraising $3,858

  • 17 · Travel

    total $115,270 · program services $111,571 · management and general $3,699

  • 22 · Depreciation, depletion and amortization

    total $84,071 · program services $59,649 · management and general $24,422

  • 24a · Other expenses: RESEARCH AND OTHER PROG

    total $138,195 · program services $138,195

  • 24b · Other expenses: BANK AND PROCESSING FEE

    total $12,227 · program services $12,186 · fundraising $41

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $209,720 · end of year $399,114

  • 2 · Savings and temporary cash investments

    beginning of year $400,158 · end of year $310,341

  • 3 · Pledges and grants receivable

    end of year $1

  • 9 · Prepaid expenses and deferred charges

    beginning of year $12,707 · end of year $30,563

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

    $533,512

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

    $95,401

  • 10c · Land, buildings and equipment, net

    beginning of year $186,679 · end of year $438,111

  • 11 · Investments: publicly traded securities

    beginning of year $5,933,990 · end of year $6,250,425

  • 14 · Intangible assets

    beginning of year $125,900 · end of year $105,286

  • 15 · Other assets

    beginning of year $18,542 · end of year $1,715,920

  • 17 · Accounts payable and accrued expenses

    beginning of year $114,413 · end of year $132,864

  • 23 · Secured mortgages and notes payable

    beginning of year $200,000 · end of year $277,981

  • 25 · Other liabilities

    beginning of year $0 · end of year $1,873,179

  • 27 · Net assets without donor restrictions

    beginning of year $6,441,699 · end of year $6,486,163

  • 28 · Net assets with donor restrictions

    beginning of year $131,584 · end of year $479,574

Mission and programs · 2022

Mission

THE HOUSE INSTITUTE FOUNDATION'S MISSION IS THREEFOLD: EAR AND NEUROSCIENCE RESEARCH, EDUCATION, AND GLOBAL HEARING HEALTH, SO ALL MAY HEAR.

Activities or mission (Part I)

BUILDING ON OUR STRONG FOUNDATION, WE CONTINUE TO INNOVATE IN HEARING HEALTH THROUGH RESEARCH, EDUCATION, GLOBAL HEALTH, AND PEDIATRIC CARE. WE BUILT OUT NEW OFFICE SPACE POST-PANDEMIC AND LAUNCHED A NEW PEDIATRIC AUDIOLOGY CLINIC.

  • EDUCATION, RESEARCH AND GLOBAL HEARING HEALTH.

    Expenses $1,771,868 · Revenue $86,057

As filed on the 2022 return.

Listed in Part VII

  • William H Slattery MD

    CHAIR

    Total calculated
    $0
    Hours/week
    2

  • Jennifer Derebery

    SECRETARY

    Total calculated
    $0
    Hours/week
    2

  • Anil Rathi

    DIRECTOR

    Total calculated
    $0
    Hours/week
    2

  • David Aroesty

    TREASURER

    Total calculated
    $0
    Hours/week
    2

  • Jay Clark

    DIRECTOR

    Total calculated
    $0
    Hours/week
    2

  • John W House

    DIRECTOR

    Total calculated
    $0
    Hours/week
    2

  • Jeremy Sidell

    EXECUTIVE DIRECTOR

    Total calculated
    $233,701
    From this org
    $223,540
    From related orgs
    $0
    Other
    $10,161
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $223,540
    Bonus
    $0
    Other
    $0
    Deferred
    $0
    Nontaxable benefits
    $10,161
    Filer's total
    $233,701

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

  • 3 · Compensation committee
  • 3 · Independent compensation consultant
  • 3 · Form 990 of other organizations
  • 3 · Compensation survey or study
  • 3 · Approval by the board or compensation committee

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
THE BOARD OF DIRECTORS SHALL ANNUALLY EVALUATE THE EXECUTIVE DIRECTOR ON HIS/HER PERFORMANCE AND ASK FOR HIS/HER INPUT ON MATTERS OF PERFORMANCE AND COMPENSATION. THE EXECUTIVE COMMITTEE WILL OBTAIN RESEARCH AND INFORMATION TO MAKE A RECOMMENDATION TO THE ENTIRE BOARD FOR THE COMPENSATION (SALARY AND BENEFITS) OF THE EXECUTIVE DIRECTOR (AND OTHER HIGHLY COMPENSATED EMPLOYEES OR CONSULTANTS) BASED ON A REVIEW OF COMPARABILITY DATA. TO APPROVE THE COMPENSATION FOR THE EXECUTIVE DIRECTOR (AND OTHER HIGHLY COMPENSATED EMPLOYEES AND CONSULTANTS) THE BOARD MUST DOCUMENT HOW IT REACHED ITS DECISIONS, INCLUDING THE DATA ON WHICH IT RELIED, IN MINUTES OF THE MEETING DURING WHICH THE COMPENSATION WAS APPROVED. THE COMMITTEE ALSO USED AN OUTSIDE CONSULTANT FOR AN INDEPENDENT SALARY REVIEW.

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.

Provenance

Return type
form_990
Tax year
2022
Filed
14 May 2024
IRS schema version
2022v5.0
Source object
202441369349318269

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