Civic Intelligence

Hoover Presidential Foundation

990 • Fiscal year 2017 • EIN 42-0848288

Oct 01, 2016 to Sep 30, 2017 • Filed on Jan 17, 2018

PO Box 696West Branch, IA 52358

(319) 643-5327

Siviq Scores

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

Liabilities / Assets

11th percentile

0.01x

Higher debt load relative to assets than 11% of similar nonprofits.

2017 filings • 501(c)3 • $10M-$25M nonprofits • Source year 2017

Liabilities / Revenue

10th percentile

0.02x

Higher debt load relative to revenue than 10% of similar nonprofits.

2017 filings • 501(c)3 • $10M-$25M nonprofits • Source year 2017

Net Margin

95th percentile

68%

Higher net margin than 95% of similar nonprofits.

2017 filings • 501(c)3 • $10M-$25M nonprofits • Source year 2017

Top Officer Pay

12th percentile

$0

Higher top officer pay than 12% of similar nonprofits.

Top officer pay equals 0.0% of source-year revenue.

2017 filings • 501(c)3 • $10M-$25M nonprofits • Source year 2017

Asset Growth

81st percentile

18%

Faster asset growth than 81% of similar nonprofits.

2017 filings • 501(c)3 • $10M-$25M nonprofits • Annualized from 2016 to 2017

Revenue Growth

9th percentile

-24%

Faster revenue growth than 9% of similar nonprofits.

2017 filings • 501(c)3 • $10M-$25M nonprofits • Annualized from 2016 to 2017

Assets

Up

$11,419,895

Up $1,732,071 (+18%) from 2016

Net Assets

Up

$11,362,696

Up $1,746,877 (+18%) from 2016

Liabilities

Down

$57,199

Down $14,806 (-21%) from 2016

Revenue

Down

$2,988,595

Down $960,409 (-24%) from 2016

Expenses

Up

$971,003

Up $256,961 (+36%) from 2016

Net Income

Down

$2,017,592

Down $1,217,370 (-38%) from 2016

Historical Trend

Balance Sheet Trend

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

$30M$20M$10M$0Assets 2011: $5,006,633Liabilities 2011: $418,673Net Assets 2011: $4,587,9602011Assets 2012: $5,344,199Liabilities 2012: $58,011Net Assets 2012: $5,286,1882012Assets 2013: $5,761,534Liabilities 2013: $44,030Net Assets 2013: $5,717,5042013Assets 2014: $6,116,687Liabilities 2014: $50,361Net Assets 2014: $6,066,3262014Assets 2015: $5,995,075Liabilities 2015: $53,139Net Assets 2015: $5,941,9362015Assets 2016: $9,687,824Liabilities 2016: $72,005Net Assets 2016: $9,615,8192016Assets 2017: $11,419,895Liabilities 2017: $57,199Net Assets 2017: $11,362,6962017Assets 2018: $11,588,021Liabilities 2018: $72,592Net Assets 2018: $11,515,4292018Assets 2019: $11,476,077Liabilities 2019: $73,872Net Assets 2019: $11,402,2052019Assets 2020: $11,926,322Liabilities 2020: $208,454Net Assets 2020: $11,717,8682020Assets 2021: $16,155,016Liabilities 2021: $125,083Net Assets 2021: $16,029,9332021Assets 2022: $15,396,359Liabilities 2022: $477,721Net Assets 2022: $14,918,6382022Assets 2023: $17,415,308Liabilities 2023: $207,353Net Assets 2023: $17,207,9552023Assets 2024: $21,739,390Liabilities 2024: $278,821Net Assets 2024: $21,460,5692024

Highlighted filing

2017

Assets$11,419,895
Liabilities$57,199
Net Assets$11,362,696

Operations Trend

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

$6.0M$4.0M$2.0M$0-$2.0MExpenses 2011: $1,132,5162011Revenue 2012: $642,275Expenses 2012: $655,191Net Income 2012: -$12,9162012Revenue 2013: $786,244Expenses 2013: $571,954Net Income 2013: $214,2902013Revenue 2014: $780,560Expenses 2014: $729,818Net Income 2014: $50,7422014Revenue 2015: $1,513,703Expenses 2015: $1,165,146Net Income 2015: $348,5572015Revenue 2016: $3,949,004Expenses 2016: $714,042Net Income 2016: $3,234,9622016Revenue 2017: $2,988,595Expenses 2017: $971,003Net Income 2017: $2,017,5922017Revenue 2018: $1,236,134Expenses 2018: $1,011,135Net Income 2018: $224,9992018Revenue 2019: $1,032,683Expenses 2019: $1,232,609Net Income 2019: -$199,9262019Revenue 2020: $871,037Expenses 2020: $1,121,036Net Income 2020: -$249,9992020Revenue 2021: $4,574,597Expenses 2021: $1,249,206Net Income 2021: $3,325,3912021Revenue 2022: $3,490,733Expenses 2022: $1,534,842Net Income 2022: $1,955,8912022Revenue 2023: $3,426,078Expenses 2023: $2,035,140Net Income 2023: $1,390,9382023Revenue 2024: $5,673,689Expenses 2024: $2,954,664Net Income 2024: $2,719,0252024

Highlighted filing

2017

Revenue$2,988,595
Expenses$971,003
Net Income$2,017,592
Jump To
Filing Snapshot
Filing Period
Oct 1, 2016 to Sep 30, 2017
Signed
Jan 17, 2018
Return Version
2016v3.0
Gross Receipts
$11,217,791
Mission and Program Overview

Mission

To perpetuate the ideals and philosophies of herbert hoover, 31st president of the united states; to preserve for the purpose of public information all historical documents and materials relating to the life and times of mr. Hoover; to support the development of the herbert hoover presidential library/museum/historic site; to foster public education by means of grants, scholarly inveastigation, conferences, lectures and exhibitions.

To protect and preserve the life and times of herbert hoover as described in part iii and schedule o.

Balance Sheet Detail
LineBeginningEndChange
Assets
Investments in Publicly Traded Securities$7,851,786$10,643,477▲ $2,791,691
Land, Buildings, and Equipment, Net$536,584$540,535▲ $3,951
Savings and Temporary Cash Investments$1,167,948$127,358▼ $1,040,590
Prepaid Expenses and Deferred Charges$49,466$53,395▲ $3,929
Pledges and Grants Receivable$9,600$40,100▲ $30,500
Cash and Non-Interest-Bearing Accounts$66,605$15,030▼ $51,575
Accounts Receivable$5,835--
Total Assets$9,687,824$11,419,895▲ $1,732,071
Liabilities
Accounts Payable and Accrued Expenses$50,505$35,699▼ $14,806
Grants Payable$21,500$21,500→ $0
Total Liabilities$72,005$57,199▼ $14,806
Net Assets / Fund Balance
Permanently Rstr Net Assets$3,569,044$4,374,444▲ $805,400
Unrestricted Net Assets$2,754,529$3,570,339▲ $815,810
Temporarily Rstr Net Assets$3,292,246$3,417,913▲ $125,667
Total Net Assets Fund Balance$9,615,819$11,362,696▲ $1,746,877
Total Liabilities and Net Assets / Fund Balance$9,687,824$11,419,895▲ $1,732,071

Asset Categories

AssetBook ValueDepreciationBasis
Other Land Buildings$290,415$360,078$650,493
Land$250,120-$250,120
Compensation and Service Providers
Revenue and Support

Revenue Composition

Contributions and Grants
$1,362,886
Program Service Revenue
$76,573
Investment Income
$1,507,993
Other Revenue
$41,143
All Other Contributions
$1,271,337
Change in Net Assets
$2,017,592

Audited Revenue Reconciliation

Revenue per Audited Statements
$2,988,595
Revenue Not Reported on Form 990
$-259,565
Total Revenue per Audited Statements
$2,729,030
Total Revenue per Form 990
$2,988,595
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$493,759
Salaries, Compensation, and Employee Benefits$428,966
Grants and Similar Amounts Paid$48,278
Total Fundraising Expense$46,394
Professional Fundraising Fees$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages$54,950$156,855$34,370$246,175
Current Officers, Directors, Trustees, and Key Employees-$115,000-$115,000
Fees for Service Investment Mgmnt Fees-$36,403-$36,403
Grants to Domestic Individuals$34,837--$34,837
Payroll Taxes$4,522$23,928$2,823$31,273
Information Technology-$30,728-$30,728
Other Employee Benefits-$28,830-$28,830
Advertising$10,521$12,151-$22,672
Office Expenses$10,676$9,916$5$20,597
Occupancy$224$18,702-$18,926
All Other Expenses$9,052$9,156-$18,208
Depreciation Depletion-$16,319-$16,319
Grants to Domestic Orgs$13,441--$13,441
Insurance-$9,933-$9,933
Travel$4,726$4,247$270$9,243
Fees for Services Accounting-$8,980-$8,980
Pension Plan Contributions$2,049$4,264$1,375$7,688
Other Expenses$60$6,563$3,801$6,623
Fees for Services Other--$3,750$3,750
Fees for Services Legal-$721-$721
Conferences and Meetings-$375-$375
Total Functional Expenses$400,060$524,549$46,394$971,003

Audited Expense Reconciliation

Line ItemAmount
Total Expenses per Audited Statements$982,153
Expenses per Audited Statements$971,003
Total Expenses per Form 990$971,003
Expenses Not Reported on Form 990$11,150
International Activity

Grant and Assistance Recipients

RecipientLocationCategoryPurposeAmount
The University of IowaIowa City, IAGovEducational Outreach$10,000
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
Audit committee
Yes
Backup withholding compliance
Yes
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
Yes
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

Form 990, Page 6, Part VI, Line 2

Kenneth fawcett john fawcett trustee trustee family - related trustees willis bywater mary bywater cross trustee trustee family-related trustees allan hoover iii trustee family - related trustees andrew hoover trustee family - related trustees alexander hoover trustee family - related trustees margaret hoover trustee family - related trustees leslie hoover-lauble trustee family - related trustees jennifer marsh trustee family - related trustees

Form 990, Page 6, Part VI, Line 11B

The organization's treasurer, executive director and financial manager are provided a draft copy of form 990 by the preparer for initial review purposes. These three individuals conduct a thorough review of the draft copy of the 990 and advise the preparer of any changes to make prior to completion of the final copy of the 990. Final changes are made by the preparer and form 990 is completed by the preparer. The treasurer then does a final general review of the completed form 990 and approves it by his/her completion of the applicable spaces in the signature block on page 1 of form 990. If filing by paper filing method, the treasurer signs and dates the filing copy of form 990 in the same applicable spaces in the signature block. If the return is being filed electronically, the treasurer signs and dates form 8879-eo, which is then returned to the preparer for e-filing. A copy of the completed form 990 is available to all board members.

Form 990, Page 6, Part VI, Line 12C

Compliance is met by annually disclosing if there are any interests that could lead to a conflict of interest. Also, at any time during the year when a conflict of interest arises, the officer, trustee or key employee is required to immediately notify the governing body of the nature of the conflict. Immediate action is taken by the governing body to investigate the nature of the conflict and timely resolution of the matter. No board member is allowed to participate in any discussion or vote on an issue in which a conflict of interest has been declared.

Form 990, Page 6, Part VI, Line 15A

The human resources committee reviews salaries based on, but not limited to, compensation paid by comparable organizations, performance evaluations and other comparable data of similar exempt organizations. The human relations committee then makes its recommendations to the executive committee. If the executive committee approves the recommended salaries, the approved salaries are incorporated into the budget and then presented to the board of trustees for final approval.

Form 990, Page 6, Part VI, Line 19

The organization makes its governing documents, conflict of interest policy and financial statements available to the public upon specific request. The applicable materials are either mailed or emailed to the person requesting such information, or that person may inspect the documents and/or materials at the office of the organization during normal business hours.

Filing and Contact Details

Filer

Filer Name
Hoover Presidential Foundation
EIN
42-0848288
Phone
3196435327
Address
PO BOX 696, WEST BRANCH, IA 52358

Signing Officer

Name
Ann Barber Doyle
Title
Treasurer
Phone
3196435327
Signed
2018-01-17
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Robert Downer
Formed
1954
Legal Domicile
Ia
Voting Board Members
42
Independent Board Members
42
Employees
11
Volunteers
125

Preparer

Firm
Winkel Parker & Foster CPA Pc
Address
519 KIRKWOOD AVE, IOWA CITY, IA 52240
Preparer
Steven J Kuhl CPA
Phone
3193510231
Supplemental Narrative

Additional Explanations

FORM 990 - ORGANIZATION'S MISSION

To perpetuate the ideals and philosophies of herbert hoover, 31st president of the united states; to preserve for the purpose of public information all historical documents and materials relating to the life and times of mr. Hoover; to support the development of the herbert hoover presidential library/museum/historic site; to foster public education by means of grants, scholarly inveastigation, conferences, lectures and exhibitions.

Financial Statement Notes

Schedule D, Page 3, Part X

The foundation is subject to rules for the recognition, measurement, classification, and disclosure in the financial statements of uncertain tax positions taken or expected to be taken in the foundation's income tax returns. Management is not aware of any tax positions that would have a material effect on the financial statements that are more likely than not to change in the next twelve months, or that would not sustain an examination by applicable taxing authorities with full knowledge of the position and all relevant facts. Since tax matters are subject to some degree of uncertainty, there can be no assurance that the foundation's income tax returns will not be challenged by the taxing authorities and that the foundation will not be subject to additional tax, penalties and interest as a result of such challenge. The foundation recognizes penalties and interest arising from uncertain tax positions when incurred. No such penalties or interest were recognized during the year ended september 30, 2017. The foundation files income tax returns with the internal revenue service. The organization's income tax returns for the three years ended september 30, 2014 through 2017 are subject to examination by the taxing authorities generally for a period of three years after they were filed.

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Document Assets

No mirrored PDF or thumbnail assets are attached yet.

Filings

Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Detailed filing. Detailed filing data is available for this year.$21.7$0.28$21.5$5.67$2.95$2.72
2023Detailed filing. Detailed filing data is available for this year.$17.4$0.21$17.2$3.43$2.04$1.39
2022Detailed filing. Detailed filing data is available for this year.$15.4$0.48$14.9$3.49$1.53$1.96
2021Detailed filing. Detailed filing data is available for this year.$16.2$0.13$16.0$4.57$1.25$3.33
2020Detailed filing. Detailed filing data is available for this year.$11.9$0.21$11.7$0.87$1.12$0.25
2019Detailed filing. Detailed filing data is available for this year.$11.5$0.07$11.4$1.03$1.23$0.20
2018Detailed filing. Detailed filing data is available for this year.$11.6$0.07$11.5$1.24$1.01$0.22
2017Detailed filing. Detailed filing data is available for this year.$11.4$0.06$11.4$2.99$0.97$2.02
2016Detailed filing. Detailed filing data is available for this year.$9.69$0.07$9.62$3.95$0.71$3.23
2015Detailed filing. Detailed filing data is available for this year.$6.00$0.05$5.94$1.51$1.17$0.35
2014Summary only. Only limited summary data is available for this year.$6.12$0.05$6.07$0.78$0.73$0.05
2013Summary only. Only limited summary data is available for this year.$5.76$0.04$5.72$0.79$0.57$0.21
2012Summary only. Only limited summary data is available for this year.$5.34$0.06$5.29$0.64$0.66$0.01
2011Facts available. Structured filing facts are available, but richer extracted sections are limited.$5.01$0.42$4.59$1.13