Civic Intelligence

Hobart Ames Foundation

990 • Fiscal year 2022 • EIN 04-6009940

Jan 01, 2022 to Dec 31, 2022 • Filed on Nov 01, 2023

Northern Tr 125 Summer Stsuite 14Boston, MA 02110

(888) 866-3275

Siviq Scores

Precomputed percentiles for this filing year versus similar nonprofits in the same peer cohort.

Liabilities / Assets

22nd percentile

0.02x

Higher debt load relative to assets than 22% of similar nonprofits.

2022 filings • 501(c)3 • $10M-$25M nonprofits • Source year 2022

Liabilities / Revenue

41st percentile

0.15x

Higher debt load relative to revenue than 41% of similar nonprofits.

2022 filings • 501(c)3 • $10M-$25M nonprofits • Source year 2022

Net Margin

6th percentile

-46%

Higher net margin than 6% of similar nonprofits.

2022 filings • 501(c)3 • $10M-$25M nonprofits • Source year 2022

Top Officer Pay

24th percentile

$106,937

Higher top officer pay than 24% of similar nonprofits.

Top officer pay equals 5.0% of source-year revenue.

2022 filings • 501(c)3 • $10M-$25M nonprofits • Source year 2022

Asset Growth

27th percentile

-6.5%

Faster asset growth than 27% of similar nonprofits.

2022 filings • 501(c)3 • $10M-$25M nonprofits • Annualized from 2021 to 2022

Revenue Growth

16th percentile

-23%

Faster revenue growth than 16% of similar nonprofits.

2022 filings • 501(c)3 • $10M-$25M nonprofits • Annualized from 2021 to 2022

Assets

Down

$13,490,774

Down $940,400 (-6.5%) from 2021

Net Assets

Down

$13,158,819

Down $933,126 (-6.6%) from 2021

Liabilities

Down

$331,955

Down $7,274 (-2.1%) from 2021

Revenue

Down

$2,159,529

Down $630,736 (-23%) from 2021

Expenses

Up

$3,159,830

Up $254,694 (+8.8%) from 2021

Net Income

Down

-$1,000,301

Down $885,430 (-771%) from 2021

Historical Trend

Balance Sheet Trend

The highlighted filing sits inside the broader history for assets, liabilities, and net assets.

$40M$30M$20M$10M$0Assets 2011: $14,565,921Liabilities 2011: $0Net Assets 2011: $14,565,9212011Assets 2012: $14,924,391Liabilities 2012: $0Net Assets 2012: $14,924,3912012Assets 2013: $15,343,030Liabilities 2013: $0Net Assets 2013: $15,343,0302013Assets 2014: $16,430,353Liabilities 2014: $505,792Net Assets 2014: $15,924,5612014Assets 2015: $15,898,642Liabilities 2015: $319,227Net Assets 2015: $15,579,4152015Assets 2016: $15,422,057Liabilities 2016: $346,227Net Assets 2016: $15,075,8302016Assets 2017: $15,375,342Liabilities 2017: $342,371Net Assets 2017: $15,032,9712017Assets 2018: $14,842,285Liabilities 2018: $248,715Net Assets 2018: $14,593,5702018Assets 2019: $14,877,477Liabilities 2019: $209,086Net Assets 2019: $14,668,3912019Assets 2020: $14,548,040Liabilities 2020: $385,780Net Assets 2020: $14,162,2602020Assets 2021: $14,431,174Liabilities 2021: $339,229Net Assets 2021: $14,091,9452021Assets 2022: $13,490,774Liabilities 2022: $331,955Net Assets 2022: $13,158,8192022Assets 2023: $16,775,257Liabilities 2023: $358,801Net Assets 2023: $16,416,4562023Assets 2024: $38,481,275Liabilities 2024: $68,543Net Assets 2024: $38,412,7322024

Highlighted filing

2022

Assets$13,490,774
Liabilities$331,955
Net Assets$13,158,819

Operations Trend

Revenue, expenses, and net income across loaded years, with this filing highlighted.

$30M$20M$10M$0-$10MRevenue 2011: $2,844,196Expenses 2011: $3,221,054Net Income 2011: -$376,8582011Revenue 2012: $4,167,154Expenses 2012: $3,799,109Net Income 2012: $368,0452012Revenue 2013: $4,361,403Expenses 2013: $3,942,614Net Income 2013: $418,7892013Revenue 2014: $3,325,263Expenses 2014: $2,774,881Net Income 2014: $550,3822014Revenue 2015: $2,647,115Expenses 2015: $3,015,064Net Income 2015: -$367,9492015Revenue 2016: $2,321,689Expenses 2016: $2,869,215Net Income 2016: -$547,5262016Revenue 2017: $2,806,045Expenses 2017: $2,954,125Net Income 2017: -$148,0802017Revenue 2018: $2,434,670Expenses 2018: $2,948,769Net Income 2018: -$514,0992018Revenue 2019: $2,938,931Expenses 2019: $2,974,007Net Income 2019: -$35,0762019Revenue 2020: $2,218,479Expenses 2020: $2,794,093Net Income 2020: -$575,6142020Revenue 2021: $2,790,265Expenses 2021: $2,905,136Net Income 2021: -$114,8712021Revenue 2022: $2,159,529Expenses 2022: $3,159,830Net Income 2022: -$1,000,3012022Revenue 2023: $5,933,865Expenses 2023: $3,471,114Net Income 2023: $2,462,7512023Revenue 2024: $24,629,665Expenses 2024: $3,348,042Net Income 2024: $21,281,6232024

Highlighted filing

2022

Revenue$2,159,529
Expenses$3,159,830
Net Income-$1,000,301
Jump To
Filing Snapshot
Filing Period
Jan 1, 2022 to Dec 31, 2022
Signed
Nov 1, 2023
Return Version
2022v5.0
Gross Receipts
$3,208,903
Mission and Program Overview

Mission

The ames plantation located near grand junction, tennessee is operated for scientific & educational purposes under a cooperative program planned & approved by the trustees and the university of tennessee.

Balance Sheet Detail
LineBeginningEndChange
Assets
Cap Stk Tr Prin Current Funds$9,964,556$9,225,540▼ $739,016
Investments in Publicly Traded Securities$9,061,102$8,221,855▼ $839,247
Rtn Earn Endowment Incm Other Fnds$4,127,389$3,933,279▼ $194,110
Land, Buildings, and Equipment, Net$3,548,098$3,353,496▼ $194,602
Savings and Temporary Cash Investments$1,066,251$856,791▼ $209,460
Inventories for Sale or Use$310,221$478,747▲ $168,526
Accounts Receivable$151,688$218,519▲ $66,831
Prepaid Expenses and Deferred Charges$99,734$107,985▲ $8,251
Total Assets$14,431,174$13,490,774▼ $940,400
Other Assets Total$194,080$253,381▲ $59,301
Liabilities
Accounts Payable and Accrued Expenses$163,951$186,621▲ $22,670
Mortgage Notes Payable Secured by Investment Property$136,623$75,040▼ $61,583
Deferred Revenue$38,655$70,294▲ $31,639
Total Liabilities$339,229$331,955▼ $7,274
Net Assets / Fund Balance
Total Net Assets Fund Balance$14,091,945$13,158,819▼ $933,126
Total Liabilities and Net Assets / Fund Balance$14,431,174$13,490,774▼ $940,400

Asset Categories

AssetBook ValueDepreciationBasis
Buildings$1,511,853$10,321,780-
Land$1,841,643--
Other Assets Org$253,381--
Compensation and Service Providers

Employees

NameTitleBaseTotal
Bank of AmericaCo-trustee$106,937$106,937
Augusta HaydockCo-trustee$7,557$7,557
Mr Oliver a SpauldingCo-trustee$7,557$7,557
Robert H FreyCo-trustee$7,557$7,557
Rick CarliseOfficer$3,000$3,000
Revenue and Support

Revenue Composition

Contributions and Grants
$280,278
Program Service Revenue
$1,363,036
Investment Income
$403,776
Other Revenue
$112,439
All Other Contributions
$252,230
Change in Net Assets
$-1,000,301
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$3,027,223
Salaries, Compensation, and Employee Benefits$132,607
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Expenses$2,551,251$185,046-$2,736,297
Fees for Services Legal$237,316--$237,316
Current Officers, Directors, Trustees, and Key Employees$53,043$79,564-$132,607
Insurance$37,632--$37,632
Fees for Service Investment Mgmnt Fees$8,924--$8,924
All Other Expenses$835$6,219-$7,054
Total Functional Expenses$2,889,001$270,829$0$3,159,830
Fundraising, Events, and Gaming
Fundraising activities
No
Gaming activities
No
Professional fundraiser used
No

Fundraising and Gaming Totals

Line ItemAmount
Professional Fundraising Fees$0
Political and Lobbying Activity
Political campaign activity
No
Lobbying activity
No
Subject to proxy tax
No
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
Yes
Backup withholding compliance
Yes
Business relationship with 35% controlled entity
No
Business relationship with family members
No
Business relationship with organization members
No
Material changes to governing documents
No
Compensation from other sources disclosed
No
CEO compensation reviewed
No
Other officer compensation reviewed
No
Conflict-of-interest policy
Yes
Audited financial statements prepared
No
Key decisions subject to board approval
No
Management duties delegated
No

Governance Explanations

EXPLANATION FOR FORM 990, PAGE 6, PART VI, LINE 8A

When decisions are made, they are documented in the permanent record.

EXPLANATION FOR FORM 990, PAGE 6, PART VI, LINE 8B

There are no committees that act on behalf of the trustees.

Form 990, Page 6, Part VI, Line 11-description of Process for Review

This organization is formed as a trust under state law, and bank of america is the institutional trustee. The form 990 is prepared by bank of america tax professionals under the direct supervision of a corporate officer. Thus, the form 990 is reviewed prior to filing by an officer of the bank, the institutional co-trustee of the trust .

EXPLANATION FOR FORM 990, PAGE 6, PART VI, LINE 12C

Annual statement by all institutional trustee employees are signed and documented.

FORM 990, PAGE 6, PART VI, LINE 15A

Not applicable - trust has institutional trustee.

FORM 990, PAGE 6, PART VI, LINE 15B

Not applicable - trust has institutional trustee.

Form 990, Page 6, Part VI, Line 18

Upon request - see contact information for organization records and books below.

Form 990, Page 6, Part VI, Line 19

The trust and/or the bank as institutional trustee makes its governance documents, conflicts of interest policy and financial statements available to the public as required by federal and state laws.

Filing and Contact Details

Filer

Filer Name
Hobart Ames Foundation
EIN
04-6009940
Phone
8888663275
Address
NORTHERN TR 125 SUMMER STSUITE 14, BOSTON, MA 02110

Signing Officer

Name
Robert H Frey
Title
Trustee
Phone
8888663275
Signed
2023-11-01
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Robert H Frey
Formed
1949
Legal Domicile
Ma
Voting Board Members
0
Independent Board Members
0
Employees
0

Preparer

Firm
Bank of America
Address
PO BOX 653067, DALLAS, TX 75265-3067
Preparer
Karen J Kiser
Phone
8888663275
Supplemental Narrative

Additional Explanations

PART III, 4A

The plantation encompasses 18,653 acres that include about 14,600 acs of forest (loblolly pine, upland hardwoods and bottomland hardwoods) & about 2,000 acs of commodity-row crops. The heritage and cultural res ources of the plantation's land base are researched and documented for future generations. Agricultural and educational research is superimp osed on numerous programs. The plantation serves as one of ten Univers ity of Tennessee AgResearch and Education Centers.

PART III, 4A

Students from University of Tennessee and other universities including University of Memphis and Mississippi State University conduct wildli fe and forestry research and are often in residence in the two small o n-site dormitories. Scholars and professionals from around the world o ften visit to see research and participate in teaching. Historical res earch programs include the interpretation and preservation of the cult ural heritage of southwestern Tennessee,

PART III, 4A

restoration of historic structures and cemeteries, and implementation of educational programs that focus on local history and preservation.

PART III, 4A

Ames Plantation Heritage Festival is held annually in October. It is h osted in cooperation with the University of Tennessee. Folk artists, d emonstrators, re-enactors, and musicians provide entertainment and edu cational opportunities for all ages. 19th century skills and activitie s are featured in hands-on activities such as picking cotton and demon strations of blacksmithing, kettle laundry, traditional pottery, and q uilting.

PART III, 4A

Ames Plantation Heritage Village is home to a collection of restored s tructures representing architectural heritage from around 1820 until t he early 20th century. The Village includes a typical 19th century fam ily farmstead, the 1830s Stencil House which served as a one-room scho olhouse in the early 1900s, a replica brick kiln, and the "Cotton Inte rpretative Center" housed in a restored log cabin.

PART III, 4A

The village serves as an educational facility where visitors can actua lly visualize the lifestyle of their ancestors as exhibited through it s buildings and furnishings. As a destination for school field trips, students receive details of local history while learning how everyone can help to preserve our cultural heritage. Its open for visits by appointment.

PART III, 4A

The Ames Plantation has had the honor of providing research materials for students from the Rhodes Institute for Regional Studies. Each rese arch topic is related to either the social or material cultural of the region during the 19th century. In most instances the research includ es information relating to the 19th century history of the Ames land b ase which has added greatly to understanding of the lives and times of Ames 19th century residents.

PART III, 4A

The National Field Trial Championship for All-Age Bird Dogs, which beg an in 1896, has been hosted annually on the plantation since 1915. Run ning on about 6,000 acs, the usual entry of about 36 English Pointers and /or English Setters that are winners or placers in 70 qualifying t rials throughout the U.S. and Canada compete. Several thousand field t rial enthusiasts from all over the world attend the event each year.

Form 990, Page 12, Part XII, Line 2

There's no formal audit committee; however, the trustees assume responsibility for the financial statements of the plantation.

Explanation for Form 990, Part XI, Line 9

Inc adj $758;receipt adj 655, $65,762 net plantation timing adjustment

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IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0The plantation encompasses 18,653 acres that include about 14,600 acs of forest (loblolly pine, upland hardwoods and bottomland hardwoods) & about 2,000 acs of commodity-row crops. The heritage and cultural res ources of the plantation's land base are researched and documented for future generations. Agricultural and educational research is superimp osed on numerous programs. The plantation serves as one of ten Univers ity of Tennessee AgResearch and Education Centers.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1Students from University of Tennessee and other universities including University of Memphis and Mississippi State University conduct wildli fe and forestry research and are often in residence in the two small o n-site dormitories. Scholars and professionals from around the world o ften visit to see research and participate in teaching. Historical res earch programs include the interpretation and preservation of the cult ural heritage of southwestern Tennessee,
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2restoration of historic structures and cemeteries, and implementation of educational programs that focus on local history and preservation.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3Ames Plantation Heritage Festival is held annually in October. It is h osted in cooperation with the University of Tennessee. Folk artists, d emonstrators, re-enactors, and musicians provide entertainment and edu cational opportunities for all ages. 19th century skills and activitie s are featured in hands-on activities such as picking cotton and demon strations of blacksmithing, kettle laundry, traditional pottery, and q uilting.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt4Ames Plantation Heritage Village is home to a collection of restored s tructures representing architectural heritage from around 1820 until t he early 20th century. The Village includes a typical 19th century fam ily farmstead, the 1830s Stencil House which served as a one-room scho olhouse in the early 1900s, a replica brick kiln, and the "Cotton Inte rpretative Center" housed in a restored log cabin.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt5The village serves as an educational facility where visitors can actua lly visualize the lifestyle of their ancestors as exhibited through it s buildings and furnishings. As a destination for school field trips, students receive details of local history while learning how everyone can help to preserve our cultural heritage. Its open for visits by appointment.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt6The Ames Plantation has had the honor of providing research materials for students from the Rhodes Institute for Regional Studies. Each rese arch topic is related to either the social or material cultural of the region during the 19th century. In most instances the research includ es information relating to the 19th century history of the Ames land b ase which has added greatly to understanding of the lives and times of Ames 19th century residents.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt7The National Field Trial Championship for All-Age Bird Dogs, which beg an in 1896, has been hosted annually on the plantation since 1915. Run ning on about 6,000 acs, the usual entry of about 36 English Pointers and /or English Setters that are winners or placers in 70 qualifying t rials throughout the U.S. and Canada compete. Several thousand field t rial enthusiasts from all over the world attend the event each year.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt8WHEN DECISIONS ARE MADE, THEY ARE DOCUMENTED IN THE PERMANENT RECORD.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt9THERE ARE NO COMMITTEES THAT ACT ON BEHALF OF THE TRUSTEES.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt10THIS ORGANIZATION IS FORMED AS A TRUST UNDER STATE LAW, AND BANK OF AMERICA IS THE INSTITUTIONAL TRUSTEE. THE FORM 990 IS PREPARED BY BANK OF AMERICA TAX PROFESSIONALS UNDER THE DIRECT SUPERVISION OF A CORPORATE OFFICER. THUS, THE FORM 990 IS REVIEWED PRIOR TO FILING BY AN OFFICER OF THE BANK, THE INSTITUTIONAL CO-TRUSTEE OF THE TRUST .
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt11ANNUAL STATEMENT BY ALL INSTITUTIONAL TRUSTEE EMPLOYEES ARE SIGNED AND DOCUMENTED.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt12NOT APPLICABLE - TRUST HAS INSTITUTIONAL TRUSTEE.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt13NOT APPLICABLE - TRUST HAS INSTITUTIONAL TRUSTEE.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt14UPON REQUEST - SEE CONTACT INFORMATION FOR ORGANIZATION RECORDS AND BOOKS BELOW.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt15THE TRUST AND/OR THE BANK AS INSTITUTIONAL TRUSTEE MAKES ITS GOVERNANCE DOCUMENTS, CONFLICTS OF INTEREST POLICY AND FINANCIAL STATEMENTS AVAILABLE TO THE PUBLIC AS REQUIRED BY FEDERAL AND STATE LAWS.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt16THERE'S NO FORMAL AUDIT COMMITTEE; HOWEVER, THE TRUSTEES ASSUME RESPONSIBILITY FOR THE FINANCIAL STATEMENTS OF THE PLANTATION.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt17INC ADJ $758;RECEIPT ADJ 655, $65,762 NET PLANTATION TIMING ADJUSTMENT
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IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc7PART III, 4a
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc8EXPLANATION FOR FORM 990, PAGE 6, PART VI, LINE 8a
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc9EXPLANATION FOR FORM 990, PAGE 6, PART VI, LINE 8b
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ReturnHeader/BuildTS02023-04-26 12:10:37Z
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Document Assets

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Filings

Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Detailed filing. Detailed filing data is available for this year.$38.5$0.07$38.4$24.6$3.35$21.3
2023Detailed filing. Detailed filing data is available for this year.$16.8$0.36$16.4$5.93$3.47$2.46
2022Detailed filing. Detailed filing data is available for this year.$13.5$0.33$13.2$2.16$3.16$1.00
2021Detailed filing. Detailed filing data is available for this year.$14.4$0.34$14.1$2.79$2.91$0.11
2020Detailed filing. Detailed filing data is available for this year.$14.5$0.39$14.2$2.22$2.79$0.58
2019Detailed filing. Detailed filing data is available for this year.$14.9$0.21$14.7$2.94$2.97$0.04
2018Summary only. Only limited summary data is available for this year.$14.8$0.25$14.6$2.43$2.95$0.51
2017Summary only. Only limited summary data is available for this year.$15.4$0.34$15.0$2.81$2.95$0.15
2016Summary only. Only limited summary data is available for this year.$15.4$0.35$15.1$2.32$2.87$0.55
2015Summary only. Only limited summary data is available for this year.$15.9$0.32$15.6$2.65$3.02$0.37
2014Summary only. Only limited summary data is available for this year.$16.4$0.51$15.9$3.33$2.77$0.55
2013Summary only. Only limited summary data is available for this year.$15.3$0.00$15.3$4.36$3.94$0.42
2012Summary only. Only limited summary data is available for this year.$14.9$0.00$14.9$4.17$3.80$0.37
2011Summary only. Only limited summary data is available for this year.$14.6$0.00$14.6$2.84$3.22$0.38