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Nonprofiteer
← HEAR SCHOLARSHIP FOUNDATION INC

Form 990 for tax year 2022

Filed by HEAR SCHOLARSHIP FOUNDATION INC.

Totals

Total revenue
$982,224
Total expenses
$718,541
Contributions and grants received
$888,190
Grants paid
$489,080
Program service revenue
$0
Investment income
$94,034
Other revenue
$0
Total assets, end of year
$1,730,397
Total liabilities, end of year
$31,015
Net assets or fund balances, end of year
$1,699,382
Program services expenses (Part IX)
$569,142
Management and general expenses
$59,831
Fundraising expenses
$89,568
Program service expenses (Part III)
$569,142

Program services were 79.2% 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

    $888,190

  • 3 · Investment income

    total $18,725 · excluded $18,725

  • 7a · Gross sales of assets other than inventory

    other assets $414,078

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

    other assets $338,769

  • 7c · Gain or loss

    other assets $75,309

  • 7d · Net gain or loss

    total $75,309 · related or exempt $75,309

Functional expenses

Part IX, the statement of functional expenses.

  • 2 · Grants to domestic individuals

    total $489,080 · program services $489,080

  • 11a · Fees: management

    total $95,052 · program services $64,526 · management and general $30,526

  • 11c · Fees: accounting

    total $2,365 · management and general $2,365

  • 11e · Fees: professional fundraising services

    total $2,177 · fundraising $2,177

  • 11g · Fees: other

    total $35,564 · program services $15,536 · management and general $20,028

  • 12 · Advertising and promotion

    total $87,391 · fundraising $87,391

  • 13 · Office expenses

    total $5,484 · management and general $5,484

  • 19 · Conferences, conventions and meetings

    total $333 · management and general $333

  • 23 · Insurance

    total $1,095 · management and general $1,095

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $295,758 · end of year $540,766

  • 4 · Accounts receivable

    end of year $131,937

  • 12 · Investments: other securities

    beginning of year $1,121,049 · end of year $1,049,363

  • 15 · Other assets

    end of year $8,331

  • 17 · Accounts payable and accrued expenses

    beginning of year $7,050 · end of year $31,015

  • 31 · Retained earnings, endowment or other funds

    beginning of year $1,409,757 · end of year $1,699,382

Mission and programs · 2022

Mission

HEAR PROVIDES FINANCIAL ASSISTANCE AND A COLLEGE SUCCESS PROGRAM TO LOW- INCOME CHICAGOLAND HIGH SCHOOL SENIORS WHO DEMONSTRATE ACADEMIC EXCELLENCE, COMMITMENT TO COMMUNITY, AND PERSONAL INTEGRITY IN THEIR PURSUIT OF A COLLEGE EDUCATION.

Activities or mission (Part I)

HEAR PROVIDES FINANCIAL ASSITANCE AND A COLLEGE SUCCESS PROGRAM TO LOW- INCOME CHICAGOLAND.

  • HEAR PROVIDES FINANCIAL ASSISTANCE AND A COLLEGE SUCCESS PROGRAM TO LOW- INCOME CHICAGOLAND HIGH SCHOOL SENIORS WHO DEMONSTRATE ACADEMIC EXCELLENCE, COMMITMENT TO COMMUNITY , AND PERSONAL INTEGRITY IN THEIR PURSUIT OF A COLLEGE EDUCATION.

    Expenses $569,142 · Grants $489,080 · Revenue $888,190

  • HEAR PROVIDES FINANCIAL ASSISTANCE AND A COLLEGE SUCCESS PROGRAM TO LOW- INCOME CHICAGOLAND HIGH SCHOOL SENIORS WHO DEMONSTRATE ACADEMIC EXCELLENCE, COMMITMENT TO COMMUNITY , AND PERSONAL INTEGRITY IN THEIR PURSUIT OF A COLLEGE EDUCATION.

As filed on the 2022 return. The filer continues this part on Schedule O, which is not shown here.

Listed in Part VII

  • Greg Cadichon

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    1

  • Teresa Devereux

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    1

  • Chris Eigel

    PAST PRESIDE

    Total calculated
    $0
    Hours/week
    1

  • Karoline Eigel

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    1

  • Steve Hall

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    1

  • Mary Kate Hatfield

    SCHOLARSHIP

    Total calculated
    $0
    Hours/week
    1

  • Joe Lamberti

    PRESIDENT

    Total calculated
    $0
    Hours/week
    1

  • Rula Marziani

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    1

  • George Silca

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    1

  • Michael Spaniak

    SECRETARY/TR

    Total calculated
    $0
    Hours/week
    1

  • Rana Strellis

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    1

  • James Weiss

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    1

  • Jim Ziemba

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    1

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.

Grants on this return

No itemized grants to organizations on this return.

Provenance

Return type
form_990
Tax year
2022
Filed
13 November 2023
IRS schema version
2022v5.0
Source object
202333179349304433

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