HOOVER PRESIDENTIAL FOUNDATION

EIN: 420848288 501(c)(3)

WEST BRANCH, IA

Total Revenue
$5,673,689
Total Expenses
$2,954,664
Total Assets
$21,739,390
Net Assets
$21,460,569
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Financial Vulnerability Assessment (Tuckman-Chang)

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Financial Trends

Organization Details

Formation Year
1954
Legal Domicile
IA
Principal Officer
ELIZABETH CORRIDAN
Phone
3196435327
Tax Period
2023-10-01 to 2024-09-30

HOOVER PRESIDENTIAL FOUNDATION, founded in 1954, is a community nonprofit that reported $5.7M in total revenue in fiscal year 2023. Revenue surged 66% from the prior year, signaling strong growth momentum. The organization ran a surplus of $2.7M, a strong 48% operating margin.

Mission

THE HOOVER PRESIDENTIAL FOUNDATION PROMOTES AND SUPPORTS THE HERBERT HOOVER PRESIDENTIAL LIBRARY-MUSEUM, NATIONAL HISTORIC SITE, AND OTHER PROGRAMS THAT ENHANCE THE UNDER-STANDING OF HERBERT HOOVER AS PRESIDENT AND HUMANITARIAN.

Program Service Accomplishments

Program 1
Expenses: $1,942,222

THE HOOVER PRESIDENTIAL FOUNDATION PROMOTES AND SUPPORTS THE HERBERT HOOVER PRESIDENTIAL LIBRARY-MUSEUM, NATIONAL HISTORIC SITE, AND OTHER PROGRAMS THAT ENHANCE THE UNDER-STANDING OF HERBERT HOOVER...

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THE HOOVER PRESIDENTIAL FOUNDATION PROMOTES AND SUPPORTS THE HERBERT HOOVER PRESIDENTIAL LIBRARY-MUSEUM, NATIONAL HISTORIC SITE, AND OTHER PROGRAMS THAT ENHANCE THE UNDER-STANDING OF HERBERT HOOVER AS PRESIDENT AND HUMANITARIAN.

Program 2
Expenses: $65,000

SCHOLARSHIPS AND GRANTS - THE ORGANIZATION AWARDS TRAVEL GRANTS TO SCHOLARS TO DEFRAY COSTS OF TRAVELING TO WEST BRANCH TO CONDUCT RESEARCH IN THE HOOVER PRESIDENTIAL LIBRARY ARCHIVES. BUS TRAVEL...

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SCHOLARSHIPS AND GRANTS - THE ORGANIZATION AWARDS TRAVEL GRANTS TO SCHOLARS TO DEFRAY COSTS OF TRAVELING TO WEST BRANCH TO CONDUCT RESEARCH IN THE HOOVER PRESIDENTIAL LIBRARY ARCHIVES. BUS TRAVEL GRANTS ARE MADE TO SCHOOLS TO HELP COVER COSTS OF SCHOOL FIELD TRIPS TO THE HOOVER PRESIDENTIAL LIBRARY AND MUSEUM. UNCOMMON STUDENT AWARDS ARE MADE TO IOWA HIGH SCHOOL JUNIORS IN THE AMOUNT OF 1,500 FOR A PROJECT THEY WISH TO ACCOMPLISH. UNCOMMON STUDENT SCHOLARSHIPS ARE MADE TO FOUR STUDENTS IN THE AMOUNT OF 10,000 FOR USE IN THEIR FRESHMAN AND SOPHOMORE YEARS IN COLLEGE, OR TECHNICAL PROGRAM.

Program 3

MEMBERSHIP PROGRAM - THE ORGANIZATION CONDUCTS SEVERAL EVENTS AND OTHER ITEMS OF INTEREST TO ATTRACT VISITORS AND MEMBERS TO THE PRESIDENTIAL LIBRARY AND MUSEUM. EVENTS AND OTHER ITEMS OF APPEAL ARE...

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MEMBERSHIP PROGRAM - THE ORGANIZATION CONDUCTS SEVERAL EVENTS AND OTHER ITEMS OF INTEREST TO ATTRACT VISITORS AND MEMBERS TO THE PRESIDENTIAL LIBRARY AND MUSEUM. EVENTS AND OTHER ITEMS OF APPEAL ARE USED TO ATTRACT NEW MEMBERS TO THE FOUNDATION.

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Trantor Score

Financial Health Score (300–850) · Liquidity · Solvency · Sustainability · Efficiency

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Liquidity (40%) • Solvency (30%) • Sustainability (20%) • Efficiency (10%)

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Financial Overview (2023)

Revenue Breakdown

Contributions & Grants $4,533,808
Program Service Revenue $43,480
Investment Income $1,093,470
Other Revenue $2,931
TOTAL REVENUE $5,673,689

Expense Breakdown

Grants Paid $65,000
Salaries & Benefits $796,124
Fundraising Expenses $166,566
Program Expenses $2,007,222
Other Expenses $2,093,540
TOTAL EXPENSES $2,954,664

Year-over-Year Comparison

2023 2022 Change
Revenue $5,673,689 $3,426,078 +0.7%
Expenses $2,954,664 $2,035,140 +0.5%
Net Income $2,719,025 $1,390,938 +1.0%
Key Indicators
✗ Grants to Organizations ✓ Grants to Individuals ✓ Lobbying ✗ Political Activity ✗ Foreign Activities ✗ Donor Advised Fund ✓ Schedule B Required
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Financial Health Indicators

Comprehensive financial analysis: Altman Z-Score, liquidity, solvency, sustainability, efficiency, and growth metrics

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Liquidity & Cash Position

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Governance

Voting Members
37
Independent Members
29
Employees
9
Volunteers
20

Governance Policies

✗ Conflict of Interest Policy
✗ Whistleblower Policy
✗ Document Retention Policy

Special Practices & Reported Activities

✗ Operated a School
✗ Operated a Hospital
✗ Provided First Class Travel
⚠ Reported Conflict of Interest
✗ Reported Asset Diversion
✗ Excess Benefit Transaction
✗ Made Political Expenditures
✓ Engaged in Lobbying
✗ Operated Donor Advised Fund
✗ Maintained Art Collections
✗ Filed Form 720

Compensation of Officers, Directors & Key Employees

Total Officers
5
$0
Total Directors
37
$0
Key Employees
0
$0
Highest Compensated
0
reported
Name Title Hours/Week Role Reportable Comp Other Comp Total
H EUGENE ANDERSON TRUSTEE 1.00
Director
$0 $0 $0
BRETT BARKER TRUSTEE 1.00
Director
$0 $0 $0
BRUCE BARNHART IST VICE CHA 1.00
Officer Director
$0 $0 $0
CHARLES BECKER TRUSTEE 1.00
Director
$0 $0 $0
JOHN BERGE TRUSTEE 1.00
Director
$0 $0 $0
KENNETH BROWN TRUSTEE 1.00
Director
$0 $0 $0
P BARRY BUTLER PAST CHAIRMA 1.00
Director
$0 $0 $0
WILLIS BYWATER TRUSTEE 1.00
Director
$0 $0 $0
ELIZABETH CORRIDAN CHAIR 1.00
Officer Director
$0 $0 $0
JENNIFER A CRALL TRUSTEE 1.00
Director
$0 $0 $0
MARY BYWATER CROSS TRUSTEE 1.00
Director
$0 $0 $0
DAVID DIERKS TRUSTEE 1.00
Director
$0 $0 $0
ANN BARBER DOYLE TRUSTEE 1.00
Director
$0 $0 $0
KENNETH FAWCETT TRUSTEE 1.00
Director
$0 $0 $0
CHARLES FUNK TRUSTEE 1.00
Director
$0 $0 $0
WALDO GEIGER TRUSTEE 1.00
Director
$0 $0 $0
ADAM GREGG TRUSTEE 1.00
Director
$0 $0 $0
TYLER DE HAAN TRUSTEE 1.00
Director
$0 $0 $0
RUTH HAUS TRUSTEE 1.00
Director
$0 $0 $0
ALEXANDER HOOVER TRUSTEE 1.00
Director
$0 $0 $0
JAMES HOOVER TRUSTEE 1.00
Director
$0 $0 $0
MARGARET HOOVER TRUSTEE 1.00
Director
$0 $0 $0
LESLIE HOOVER-LAUBLE TRUSTEE 1.00
Director
$0 $0 $0
JENNIFER HOWARD TRUSTEE 1.00
Director
$0 $0 $0
STEVE HOWES TREASURER 1.00
Officer Director
$0 $0 $0
ALLAN HOOVER III 2ND VICE CHA 1.00
Officer Director
$0 $0 $0
ALLAN HOOVER III TRUSTEE 1.00
Director
$0 $0 $0
KENNETH KINSEY TRUSTEE 1.00
Director
$0 $0 $0
HAIG MARDIKIAN TRUSTEE 1.00
Director
$0 $0 $0
JEANITA MCNULTY TRUSTEE 1.00
Director
$0 $0 $0
DARREL MORF TRUSTEE 1.00
Director
$0 $0 $0
SALLY NOVETZKE TRUSTEE 1.00
Director
$0 $0 $0
EMILY SCHMITT SECRETARY 1.00
Officer Director
$0 $0 $0
KAREN SUCHOMEL TRUSTEE 1.00
Director
$0 $0 $0
JEREMIAH TERHARK TRUSTEE 1.00
Director
$0 $0 $0
PETER VOORHEES TRUSTEE 1.00
Director
$0 $0 $0
STEPHEN WOLKEN TRUSTEE 1.00
Director
$0 $0 $0
Note: Compensation data is self-reported by the organization on their Form 990. "Reportable Comp" includes salary, bonuses, and other reportable compensation from the organization and related organizations. "Other Comp" includes benefits, deferred compensation, and non-taxable benefits.

Historical Data

Year Revenue Expenses Assets Net Income
2025 No data No data No data No data
2024 $5,673,689 $2,954,664 $21,739,390 $2,719,025
2023 $3,426,078 $2,035,140 $17,415,308 $1,390,938
2022 $3,490,733 $1,534,842 $15,396,359 $1,955,891
2021 $4,574,597 $1,249,206 $16,155,016 $3,325,391
2020 $871,037 $1,121,036 $11,926,322 $-249,999
2019 $1,032,683 $1,232,609 $11,476,077 $-199,926
2018 $1,236,134 $1,011,135 $11,588,021 $224,999
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