EARLY FORD V-8 FOUNDATION INC

EIN: 943152163 501(c)(3) Arts, Culture & Humanities

AUBURN, IN

Total Revenue
$460,035
Total Expenses
$611,086
Total Assets
$8,020,833
Net Assets
$6,063,852
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Financial Trends

Organization Details

Formation Year
1993
Legal Domicile
IN
Principal Officer
JOHN HOHAM
Phone
2609278022
Tax Period
2023-01-01 to 2023-12-31

EARLY FORD V-8 FOUNDATION INC, founded in 1993, is a small nonprofit in the Arts, Culture & Humanities sector that reported $460K in total revenue in fiscal year 2023. Expenses of $611K exceeded revenue, resulting in a 33% operating deficit.

Mission

THE ORGANIZATION EXISTS TO COLLECT, PRESERVE, EXHIBIT AND INTERPRET THE HISTORY AND HERITAGE OF THE PRODUCTS MANUFACTURED BY THE FORD MOTOR COMPANY BETWEEN 1932 AND 1953. SINCE MOVING THE ORGANIZATION TO INDIANA IN 2009 THEY HAVE CONTINUED TO EXPAND NOT ONLY THE CAR COLLECTION BUT THE COLLECTION OF PRINTED MATERIAL, FILMS AND HISTORICAL INFORMATION ON THE FORD MOTOR COMPANY. THE ORIGINAL STRUCTURE WAS 8,000 SQ FT. WITH THE SIZE OF THE COLLECTION EXPANDING TO 37 - 40 CARS, THE ORGANIZATION IMPLEMENTED A PLAN BEGINNING IN JULY 2017 TO EXPAND THE SIZE OF THE BUILDING TO ADD AN ADDITIONAL 25,000 SQ FT. THIS ADDITION WAS COMPLETED IN EARLY 2019 AND INCLUDES 10,000 SQ FT WHICH IS USED FOR A COLLECTION OF EIGHTEEN 1936 FORD AUTOMOBILES. THE ADDITION INCLUDES A 1940 FORD SERVICE GARAGE REPLICA. A 1/4 SCALE REPLICA OF THE FORD ROTUNDA AS FIRST DISPLAYED AT THE 1934 WORLD'S FAIR IN CHICAGO IS ALSO A HIGHLIGHT OF THE ADDITION. IN 2023, THE ORGANIZATION COMPLETED COSTRUCTION AND HAD A GRAND OPENIN

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

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Financial Overview (2023)

Revenue Breakdown

Contributions & Grants $253,343
Program Service Revenue $23,106
Investment Income $73,462
Other Revenue $110,124
TOTAL REVENUE $460,035

Expense Breakdown

Grants Paid $0
Salaries & Benefits $175,255
Fundraising Expenses $40,607
Program Expenses $486,241
Other Expenses $435,831
TOTAL EXPENSES $611,086

Year-over-Year Comparison

2023 2022 Change
Revenue $460,035 $483,395 0.0%
Expenses $611,086 $509,955 +0.2%
Net Income $-151,051 $-26,560 +4.7%
Key Indicators
Grants to Organizations Grants to Individuals Lobbying Political Activity Foreign Activities Donor Advised Fund Schedule B Required
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Governance

Voting Members
14
Independent Members
14
Employees
7
Volunteers
16

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
4
$78,040
Total Directors
15
$78,040
Key Employees
0
$0
Highest Compensated
0
reported
Name Title Hours/Week Role Reportable Comp Other Comp Total
JOSH CONRAD SECRETARY 40.00
Officer Director
$78,040 $0 $78,040
JIM BROWN TRUSTEE 1.00
Director
$0 $0 $0
HENRY DOMINQUEZ TRUSTEE 1.00
Director
$0 $0 $0
DANNY DRISKELL TRUSTEE 1.00
Director
$0 $0 $0
GREG EATON TRUSTEE 1.00
Director
$0 $0 $0
CRAIG FLOYD PRESIDENT 1.00
Officer Director
$0 $0 $0
JOHN HOHAM EXECUTIVE DI N/A
Officer Director
$0 $0 $0
TOM JOHNSON TRUSTEE 1.00
Director
$0 $0 $0
DAVID KOEHLER TRUSTEE 1.00
Director
$0 $0 $0
SCOTT MACGREGOR TRUSTEE 1.00
Director
$0 $0 $0
CECIL POLAN TRUSTEE 1.00
Director
$0 $0 $0
BILL RANDOLPH TREASURER 1.00
Officer Director
$0 $0 $0
ROBERT RATHGABER TRUSTEE 1.00
Director
$0 $0 $0
DAVE SHARP TRUSTEE 1.00
Director
$0 $0 $0
JOHN SMITH 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
2024 No data No data No data No data
2023 $460,035 $611,086 $8,020,833 $-151,051
2022 $483,395 $509,955 $8,138,621 $-26,560
2021 $1,535,007 $457,204 $6,698,071 $1,077,803
2020 $1,257,742 $362,665 $5,164,492 $895,077
2019 $1,644,207 $319,432 $4,634,797 $1,324,775
2018 $479,753 $179,681 $3,484,503 $300,072
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