Hoffman Institute Supporting Foundation

Nonprofit profile at a glance

EIN
204801174
IRS 990 coverage
2019–2024
Forms available
Form 990 2024
Location
San Rafael, CA, USA
Phone
4154855220
Rating
39
Verdict
REVIEW
Rating confidence
Moderate
Sector
Single Organization Support

Official website

Reported finances

Revenue
$4,191,180
Expenses
$863,248
Assets
$20,697,329
Liabilities
$135,384

Source: IRS Form 990. Selected filing: tax year 2024. Amounts in USD.

Leadership & pay

6 people listed

Executive titles in this filing

  • CHARLES INGRASCI (PRESIDENT/CHAIRMAN)
  • JAKE TARR (VICE PRESIDENT/TREASURER)

Highest reported compensation

  • MATTHEW BRANNAGAN (DIRECTOR): $214,219 total reported compensation
  • CHARLES INGRASCI (PRESIDENT/CHAIRMAN): $188,971 total reported compensation

Source: IRS Form 990. Selected filing: tax year 2024. Names and roles reflect this filing, not necessarily current officeholders.

Overview

Mission

The specific and primary purpose of the supporting foundation is to engage in charitable and education activities that benefits, performs the functions of, or carries out the purpose of the hoffman institute foundation.

What it reported doing in 2024

The key activities in year 2024 were centralized on the purchase of a new long term retreat center, planning for the large-scale capital improvement renovation of same, and the payoff of all debt with proceeds from the sale of former retreat sites. The details of the major transactions are: the sale for $6mm of the former retreat site white sulphur springs in napa, ca which was badly damaged in the 2020 glass wildfire; the sale for $20mm of the current hoffman retreat center in petaluma, ca at which hoffman institute foundation will remain a tenant until the new site is ready to operate retreats in year 2026; the purchase for $11.5mm of the santa sabina retreat center in san rafael, ca; and the paydown of $6mm to city national bank which zeroed out all long term liabilities. The scope of the capital renovation at santa sabina capital improvements are projected to exceed $12mm and include classrooms renovation, modernization, fire safety, hvac, ada additions, painting, and several bathroom renovations additions. Improvements to this 2.5+ acre site enables the hoffman institute foundation to increase and consolidate retreat operational capacity.

Operating model

Revenue model
Mixed. Its operating money came from several sources; no one source provided a clear majority.
Distribution model
No current program activity. The filing reports no program spending for the current year.

The verdict

REVIEW - The filed numbers largely add up and most voting board members are independent. A relatively small share of available resources goes toward mission work and a relatively small share of total spending goes to programs.

Rating breakdown

  • Financial Efficiency: 0
  • Transparency & Controls: 60
  • Accountability: 76
  • Sustainability: 91
  • Growth: 20

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 0%; rating input score 0
  • Program expense ratio: 0%; rating input score 0
  • Fundraising efficiency: Limited

Transparency & Controls

  • Consistency checks: 100%; rating input score 100; 63rd percentile among comparable filings
  • Pay-setting controls: 0 of 6 controls in place; rating input score 0
    • Compensation committee: Missing
    • Independent consultant: Missing
    • Other Form 990s reviewed: Missing
    • Written employment contract: Missing
    • Compensation survey or study: Missing
    • Board or committee approval: Missing
  • Foreign activity oversight: Limited
  • Grant itemization coverage: Limited
  • Major donor itemization: Limited
  • Related-party transparency: Limited

Accountability

  • Independent voting board: 66.7%; rating input score 67; 11th percentile among comparable filings
  • Governance controls: 7 of 8 controls in place; rating input score 88
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Pass
    • Document-retention policy: Pass
    • CEO compensation review process: Fail
    • Other executive compensation review process: NotApplicable
    • Form 990 shared with the board: Pass
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Pass
    • Independent financial-statement audit: Pass

Sustainability

  • Operating margin: 79.4%; rating input score 98; 98th percentile among comparable filings
  • Total-asset coverage ratio: 23.98; rating input score 97; 97th percentile among comparable filings
  • Liabilities to assets ratio: 0.01; rating input score 88; 88th percentile among comparable filings
  • Officer compensation ratio: 5.5%; rating input score 50; 50th percentile among comparable filings

Growth

  • Program expense growth: -51.4% per year; rating input score 0; 0th percentile among comparable filings
  • Revenue growth: -10.1% per year; rating input score 0; 2nd percentile among comparable filings
  • Asset growth: 17% per year; rating input score 100; 78th percentile among comparable filings

Details

  • Where the money goes: 0% of revenue deployed · 0% of spending went to programs
  • Governance: 4 of 6 board members independent · 7 of 8 filing controls reported
  • Programs: 1 filed program accomplishment
  • Leadership: top reported pay $214K · 6 people listed · 0 of 6 pay-setting controls reported
  • Highest-paid contractors: 4 contractors listed · $948K reported
  • Consistency: 20 of 20 current checks pass
  • Schedules: 5 filed schedules · includes executive pay
  • Filing history: 6 filing years from 2019 to 2024
  • Contacts: How to reach this organization
  • Money network: 1 filed money-flow record
  • Related organizations: 1 filed related-organization link
  • Grant readiness: Federal tax and exclusion status, award history, and grant-maker relationships.
  • People: Everyone the filings name, and which of them the filings identify by more than a name.

Key Signals

Signals prioritize questions for review. They are not findings of misconduct.

  • High — Financial Efficiency: Mission deployment rate scored 0/100.
  • High — Financial Efficiency: Program expense ratio scored 0/100.
  • High — Transparency & Controls: Pay-setting controls scored 0/100.
  • High — Growth: Program expense growth scored 0/100.
  • High — Growth: Revenue growth scored 0/100.
  • Review — Accountability: Governance controls: CEO compensation review process not reported.
  • Review — Sustainability: Officer compensation ratio scored 50/100.