The Foundation at Hearst Castle

Nonprofit profile at a glance

EIN
770068533
IRS 990 coverage
2012–2024
Forms available
Form 990 2024
Location
San Simeon, CA, USA
Phone
8059959720
Rating
77
Verdict
SUPPORTED
Rating confidence
Moderate

Reported finances

Revenue
$470,563
Expenses
$474,335
Assets
$679,238
Liabilities
$14,108

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

Leadership & pay

13 people listed

Executive titles in this filing

  • DOUG JENZEN (Executive Director)
  • LISA HAAS (President)
  • MARGARET KLEVINS (Vice President)
  • DIA RIANDA (President)

Highest reported compensation

  • DOUG JENZEN (Executive Director): $71,854 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 Foundation at Hearst Castle's mission is to support the conservation and restoration of Hearst Castle, and to offer youth programs for underserved middle school students - To enhance the appreciation of the art and architecture of this world-class museum and monument, ultimately enriching the visitor experience and inspiring future generation.The Foundation at Hearst Castle is a 501(c)(3) nonprofit association affiliated with Hearst San Simeon State Historical Monument and the San Luis Obispo Coast District of California State Parks. EIN 77-0068533.

What it reported doing in 2024

The Foundation at Hearst Castle's events attract unique audiences not traditionally drawn to the Castle, and in so doing heighten public awareness and offer educational opportunities.William Randolph Hearst was an art collector who amassed an impressive body of work that graces not only San Simeon, but private collections and public institutions. Twilight on the Terrace is an event which introduces several hundred guests to the importance of conservation of this museum-quality collection. Their donations have a crucial impact on Heart Castle's future for students, scholars, and the visiting public.

Operating model

Revenue model
Donor-supported. 69% of the money available for current operations came from contributions and gifts.
Distribution model
Direct operator. The filing allocates 100% of reported program-service expenses outside its grant, affiliate-payment, and member-benefit lines. This expense classification does not rule out separately announced grant awards.

The verdict

SUPPORTED - The filed numbers largely add up and a large share of available resources goes toward mission work. Fundraising costs are high for each dollar raised and expenses are high relative to revenue.

Rating breakdown

  • Financial Efficiency: 62
  • Transparency & Controls: 92
  • Accountability: 90
  • Sustainability: 40
  • Growth: 100

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 68.4%; rating input score 68
  • Program expense ratio: 67%; rating input score 67
  • Fundraising efficiency: $4.29 raised per $1 spent on fundraising; rating input score 19; 19th percentile among comparable filings

Transparency & Controls

  • Consistency checks: 100%; rating input score 100; 64th percentile among comparable filings
  • Pay-setting controls: Limited
  • Foreign activity oversight: Limited
  • Grant itemization coverage: Limited
  • Major donor itemization: Yes; rating input score 100
  • Related-party transparency: Limited

Accountability

  • Independent voting board: 100%; rating input score 100; 63rd percentile among comparable filings
  • Governance controls: 6 of 8 controls in place; rating input score 75
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Pass
    • Document-retention policy: Pass
    • CEO compensation review process: Pass
    • Other executive compensation review process: NotApplicable
    • Form 990 shared with the board: Pass
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Missing
    • Independent financial-statement audit: Fail

Sustainability

  • Operating margin: -0.8%; rating input score 37; 37th percentile among comparable filings
  • Total-asset coverage ratio: 1.43; rating input score 50; 50th percentile among comparable filings
  • Liabilities to assets ratio: 0.02; rating input score 40; 40th percentile among comparable filings
  • Officer compensation ratio: 15.1%; rating input score 24; 24th percentile among comparable filings

Growth

  • Program expense growth: 1.9% per year; rating input score 100; 39th percentile among comparable filings
  • Revenue growth: 3.2% per year; rating input score 100; 42nd percentile among comparable filings
  • Asset growth: 4.4% per year; rating input score 100; 45th percentile among comparable filings

Details

  • Where the money goes: 68.4% of revenue deployed · 67% of spending went to programs
  • Governance: 12 of 12 board members independent · 6 of 8 filing controls reported
  • Programs: 2 filed program accomplishments · $318K in reported program spending
  • Leadership: top reported pay $72K · 13 people listed
  • Consistency: 25 of 25 current checks pass
  • Schedules: 5 filed schedules · includes major donors
  • Filing history: 13 filing years from 2012 to 2024
  • Contacts: How to reach this organization
  • Money network: 1 filed money-flow record
  • Related organizations: Filed and resolved organization relationships.
  • 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: Fundraising efficiency scored 19/100.
  • Moderate — Sustainability: Operating margin scored 37/100.
  • Review — Accountability: Governance controls: Independent financial-statement audit not reported.
  • Review — Sustainability: Total-asset coverage ratio scored 50/100.
  • High — Sustainability: Officer compensation ratio scored 24/100.
  • Moderate — Sustainability: Liabilities to assets ratio scored 40/100.