CHARLES L HOVER FAMILY FOUNDATION GUARANTY BANK AND TRUST COMPANY TRUSTEE

Address
PO BOX 1159
LONGMONT, CO 805021159
Contact
Phone: +1 (303) 776-5800
Nonprofit
NTEE: T22 - Private Independent Foundations
EIN: 84-6021362
 
 20172016201520142013
Basic features of the organization
Year of formation1976
Subsection code03
PF filing required0    
Metropolitan statistical area2082
Form of organization
TrustTrue
Human resources, including compensation
Summary compensation info
Total compensation of current key personnel$15,072.00$14,649.00$14,832.00$19,534.00$16,418.00
Sum of reportable (W2/1099) compensation$21,531.00$20,927.00$21,188.00$19,534.00$16,419.00
Number of employees00000
Number of people compensated >$100k00000
Number of volunteers00000
Number of highly compensated contractors00000
Personnel
Bank and Trust, Guaranty
Title    TRUSTEE
Name of key/compensated person    GUARANTY BANK AND TRUST
Position of compensated person
Current institutional trustee    True
Average hours per week working for org    2.00
Reportable compensation from org    $16,419.00
Other comp, non-reportable, from org and related orgs    $0.00
Corresponding comp from related orgs
Reportable compensation from related orgs     $0.00
Purpose: mission, activities, & accomplishments
Mission or significant activitiesTO SUPPORT HOVER SENIOR LIVING COMMUNITY, INC.TO SUPPORT HOVER SENIOR LIVING COMMUNITY, INC.TO SUPPORT HOVER SENIOR LIVING COMMUNITY, INC.TO SUPPORT HOVER SENIOR LIVING COMMUNITY, INC.TO ASSIST HOVER COMMUNITY, INC.
Program service expenses, total$381,341.00$38,572.00$38,594.00$36,342.00$34,664.00
Programs, including revenue & expenses
ALL NET INCOME OF THE CHARLES L. HOVER FAMILY FOUNDATION IS PAID BY THE TRUSTEE TO HOVER SENIOR LIVING COMMUNITY, INC. AT LEAST ANNUALLY. HOVER SENIOR LIVING COMMUNITY, INC., THROUGH ITS BOARD OF DIRECTORS, IS AUTHORIZED TO USE THE INCOME RECEIVED FROM THE FOUNDATION FOR THE DEVELOPMENT AND OPERATION OF A RETIREMENT COMMUNITY IN LONGMONT, COLORADO. THIS INCOME IS UTILIZED TO SUBSIDIZE THE COSTS OF OPERATION OF THE RETIREMENT COMMUNITY, TO PERMIT THE CARE OF PERSONS UNABLE TO PAY THE ENTIRE COST OF SUCH CARE, AND TO PROVIDE SERVICES, PROGRAMS OR FACILITIES WHICH COULD NOT OTHERWISE BE PROVIDED. HOWEVER, HOVER SENIOR LIVING COMMUNITY, INC. HAS FULL POWER TO DETERMINE THE METHOD AND DETAILS OF THE USE OF SUCH SUBSIDY FOR THE BENEFIT OF THE RETIREMENT COMMUNITY SUBJECT TO THE TERMS OF THE AGREEMENT.
Program expenses$381,341.00$38,572.00$38,594.00$36,342.00$34,664.00
Grants and allocations made$368,000.00$26,000.00$26,000.00$26,000.00$26,000.00
Program descriptionALL NET INCOME OF THE CHARLES L. HOVER FAMILY FOUNDATION IS PAID BY THE TRUSTEE TO HOVER SENIOR LIVING COMMUNITY, INC. AT LEAST ANNUALLY. HOVER SENIOR LIVING COMMUNITY, INC., THROUGH ITS BOARD OF DIRECTORS, IS AUTHORIZED TO USE THE INCOME RECEIVED FROM THE FOUNDATION FOR THE DEVELOPMENT AND OPERATION OF A RETIREMENT COMMUNITY IN LONGMONT, COLORADO. THIS INCOME IS UTILIZED TO SUBSIDIZE THE COSTS OF OPERATION OF THE RETIREMENT COMMUNITY, TO PERMIT THE CARE OF PERSONS UNABLE TO PAY THE ENTIRE COST OF SUCH CARE, AND TO PROVIDE SERVICES, PROGRAMS OR FACILITIES WHICH COULD NOT OTHERWISE BE PROVIDED. HOWEVER, HOVER SENIOR LIVING COMMUNITY, INC. HAS FULL POWER TO DETERMINE THE METHOD AND DETAILS OF THE USE OF SUCH SUBSIDY FOR THE BENEFIT OF THE RETIREMENT COMMUNITY SUBJECT TO THE TERMS OF THE AGREEMENT.ALL NET INCOME OF THE CHARLES L. HOVER FAMILY FOUNDATION IS PAID BY THE TRUSTEE TO HOVER SENIOR LIVING COMMUNITY, INC. AT LEAST ANNUALLY. HOVER SENIOR LIVING COMMUNITY, INC., THROUGH ITS BOARD OF DIRECTORS, IS AUTHORIZED TO USE THE INCOME RECEIVED FROM THE FOUNDATION FOR THE DEVELOPMENT AND OPERATION OF A RETIREMENT COMMUNITY IN LONGMONT, COLORADO. THIS INCOME IS UTILIZED TO SUBSIDIZE THE COSTS OF OPERATION OF THE RETIREMENT COMMUNITY, TO PERMIT THE CARE OF PERSONS UNABLE TO PAY THE ENTIRE COST OF SUCH CARE, AND TO PROVIDE SERVICES, PROGRAMS OR FACILITIES WHICH COULD NOT OTHERWISE BE PROVIDED. HOWEVER, HOVER SENIOR LIVING COMMUNITY, INC. HAS FULL POWER TO DETERMINE THE METHOD AND DETAILS OF THE USE OF SUCH SUBSIDY FOR THE BENEFIT OF THE RETIREMENT COMMUNITY SUBJECT TO THE TERMS OF THE AGREEMENT.ALL NET INCOME OF THE CHARLES L. HOVER FAMILY FOUNDATION IS PAID BY THE TRUSTEE TO HOVER COMMUNITY, INC. AT LEAST ANNUALLY. HOVER COMMUNITY, INC., THROUGH ITS BOARD OF DIRECTORS, IS AUTHORIZED TO USE THE INCOME RECEIVED FROM THE FOUNDATION FOR THE DEVELOPMENT AND OPERATION OF A RETIREMENT COMMUNITY IN LONGMONT, COLORADO. THIS INCOME IS UTILIZED TO SUBSIDIZE THE COSTS OF OPERATION OF THE RETIREMENT COMMUNITY, TO PERMIT THE CARE OF PERSONS UNABLE TO PAY THE ENTIRE COST OF SUCH CARE, AND TO PROVIDE SERVICES, PROGRAMS OR FACILITIES WHICH COULD NOT OTHERWISE BE PROVIDED. HOWEVER, HOVER COMMUNITY, INC. HAS FULL POWER TO DETERMINE THE METHOD AND DETAILS OF THE USE OF SUCH SUBSIDY FOR THE BENEFIT OF THE RETIREMENT COMMUNITY SUBJECT TO THE TERMS OF THE AGREEMENT.ALL NET INCOME OF THE CHARLES L. HOVER FAMILY FOUNDATION IS PAID BY THE TRUSTEE TO HOVER SENIOR LIVING COMMUNITY, INC. AT LEAST ANNUALLY. HOVER SENIOR LIVING COMMUNITY, INC., THROUGH ITS BOARD OF DIRECTORS, IS AUTHORIZED TO USE THE INCOME RECEIVED FROM THE FOUNDATION FOR THE DEVELOPMENT AND OPERATION OF A RETIREMENT COMMUNITY IN LONGMONT, COLORADO. THIS INCOME IS UTILIZED TO SUBSIDIZE THE COSTS OF OPERATION OF THE RETIREMENT COMMUNITY, TO PERMIT THE CARE OF PERSONS UNABLE TO PAY THE ENTIRE COST OF SUCH CARE, AND TO PROVIDE SERVICES, PROGRAMS OR FACILITIES WHICH COULD NOT OTHERWISE BE PROVIDED. HOWEVER, HOVER SENIOR LIVING COMMUNITY, INC. HAS FULL POWER TO DETERMINE THE METHOD AND DETAILS OF THE USE OF SUCH SUBSIDY FOR THE BENEFIT OF THE RETIREMENT COMMUNITY SUBJECT TO THE TERMS OF THE AGREEMENT.ALL NET INCOME OF THE CHARLES L. HOVER FAMILY FOUNDATION IS PAID BY THE TRUSTEE TO HOVER COMMUNITY, INC. AT LEAST ANNUALLY. HOVER COMMUNITY, INC., THROUGH ITS BOARD OF DIRECTORS, IS AUTHORIZED TO USE THE INCOME RECEIVED FROM THE FOUNDATION FOR THE DEVELOPMENT AND OPERATION OF A RETIREMENT COMMUNITY IN LONGMONT, COLORADO. THIS INCOME IS UTILIZED TO SUBSIDIZE THE COSTS OF OPERATION OF THE RETIREMENT COMMUNITY, TO PERMIT THE CARE OF PERSONS UNABLE TO PAY THE ENTIRE COST OF SUCH CARE, AND TO PROVIDE SERVICES, PROGRAMS OR FACILITIES WHICH COULD NOT OTHERWISE BE PROVIDED. HOWEVER, HOVER COMMUNITY, INC. HAS FULL POWER TO DETERMINE THE METHOD AND DETAILS OF THE USE OF SUCH SUBSIDY FOR THE BENEFIT OF THE RETIREMENT COMMUNITY SUBJECT TO THE TERMS OF THE AGREEMENT.
Financial data
Revenue
Total revenue$153,857.00$94,010.00$59,617.00$179,318.00$118,215.00
Revenue from contributions (total)  $0.00$0.00$0.00
Investment income, current yr$151,812.00$94,010.00$59,617.00$179,318.00$117,201.00
Total revenue from grants, etc., current yr$0.00$0.00$0.00$0.00$0.00
Total unrelated business revenue$0.00$0.00$0.00$0.00$0.00
Other revenue, current yr$2,045.00$0.00$0.00$0.00$1,014.00
Net unrelated business taxable revenue$0.00$0.00$0.00$0.00$0.00
Program service revenue (total)  $0.00$0.00$0.00
Gross receipts$570,019.00$310,716.00$324,190.00$679,122.00$375,261.00
Other types of revenue
Miscellaneous revenue (total)$2,045.00   $1,014.00
Income from dividends, interest, and similar investments$44,195.00$47,613.00$48,643.00$47,270.00$38,121.00
Net rental income  $0.00$0.00$0.00
Expense categories (totals)
Total functional expenses: sum of all$406,500.00$61,676.00$62,081.00$57,431.00$52,316.00
Total functional expenses: program service $381,341.00$38,572.00$38,594.00$36,342.00$34,664.00
Total functional expenses: management and general$25,159.00$23,104.00$23,487.00$21,089.00$17,652.00
Total functional expenses: fundraising$0.00$0.00$0.00$0.00$0.00
Fees for services
Legal fees (total)$1,644.00    
Fundraising service fees (total)$0.00$0.00$0.00$0.00$0.00
Investment management fees (total)$6,460.00$6,278.00$6,356.00  
Assets and liabilities
Total assets$2,100,340.00$2,352,983.00$2,320,649.00$2,323,113.00$2,201,226.00
Total assets, beginning of year$2,352,983.00$2,320,649.00$2,323,113.00$2,201,226.00$2,135,327.00
Total liabilities$0.00$0.00$0.00$0.00$0.00
Total liabilities, beginning of year$0.00$0.00$0.00$0.00$0.00
Net assets$2,100,340.00$2,352,983.00$2,320,649.00$2,323,113.00$2,201,226.00
Net assets, beginning of year$2,352,983.00$2,320,649.00$2,323,113.00$2,201,226.00$2,135,327.00
Investments: other securities$94,727.00$175,397.00$215,923.00$179,011.00$421,730.00
Investments: publicly traded securities$1,439,757.00$1,776,367.00$1,713,536.00$1,627,438.00$1,354,718.00
Cash: non-interest bearing$500,415.00$0.00$319.00$54.00$5,073.00
Cash: non-interest bearing, beginning of year $319.00$54.00$5,073.00$4,560.00
Other financial variables
Revenue less expenses-$252,643.00$32,334.00-$2,464.00$121,887.00$65,899.00
Savings & temp cash investment$65,441.00$59,219.00$48,871.00$174,610.00$77,705.00
Total net assets or fund balances$2,100,340.00$2,352,983.00$2,320,649.00$2,323,113.00$2,201,226.00
Governance and accountability
Number of voting members11111
Number of independent voting members11111
Cash accountingTrueTrueTrueTrueTrue
Tax year start date2017-01-012016-01-012015-01-012014-01-012013-01-01
Tax year end date2017-12-012016-12-012015-12-012014-12-012013-12-01
Indicators for schedules (selected)
Grants to domestic org/gov't >$5kTrueTrueTrueTrueTrue
Metadata about the filing
E-return type: 990, 990EZ, or 990PF990990990990990
Date e-filing submitted2018-06-212017-10-062016-10-112015-08-172014-10-14
IRS schema version2017v2.22016v3.02015v2.12014v5.02013v3.0
Filing identifier201821349349308452201721319349304897201601599349300410201541539349300244201441329349300049
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