BOB HOOVER LEGACY FOUNDATION Charity Report

Tax-exempt status may be revoked

BOB HOOVER LEGACY FOUNDATION

EIN 46-5748095 · Scholarships & Student Financial Aid (B82)

What they do

THE ORGANIZATION PROVIDES EDUCATIONAL SCHOLARSHIPS to INDIVIDUALS WHO ARE PURSUING A CAREER IN AVIATION and ARE ATTENDING AN AVIATION-RELATED EDUCATIONAL INSTITUTION. THE PURPOSE for THE SCHOLARSHIPS is to MAKE THIS TYPE of EDUCATION AVAILABLE to THOSE WHO WOULD OTHERWISE NOT BE ABLE to AFFORD THE TRAINING and EDUCATION REQUIRED for A CAREER IN AVIATION.

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This record may have an IRS status problem. Do not give until you verify it.

Plain answer: A tax form cannot prove that a charity is doing good. It can show how the charity says it spent its money—and point out questions you should ask.

Basic facts we verified

IRS warning checkThere may be a problem with its nonprofit status. Check before giving.

Money report from 2019The report may be old. Ask for a newer one.

They explain their jobThe charity tells us what it is trying to do.

They name their leaders1 people are listed in the latest report.

You can reach themThey list contact information, so you can ask questions.

Money made simple

87.93%of revenue went to mission work93.7% of expenses · Program services

$135.04spent for every $100 of revenueSpending was higher than revenue this year.

5.89%of revenue went to management and office costs6.3% of expenses

$2.20in assets for every $1 spent this yearSome assets cannot be spent right away.

100.0%of its money came from giftsOther money may come from services or investments.

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Worth asking: Expenses exceeded revenue by $32,135 this year. Ask whether that was planned or caused by a one-time event.

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Money

Financial picture

Tax year 2019

A plain-language look at the latest Form 990 figures available. These numbers help you ask better questions; they do not, by themselves, rate whether a charity is good or bad.

$100revenue

How each $100 of revenue was used

The large number compares each expense with revenue. The smaller number shows its share of total expenses.

Total reported revenue$29,000

Mission workProgram services$25,50087.93% of revenue93.7% of expenses

ManagementOffice and general costs$1,7095.89% of revenue6.3% of expenses

FundraisingAsking for donations0.00% of revenue0.0% of expenses

Revenue left after expensesReported annual surplus$1,7916.18% of revenueShown in gray on the chart

Total expenses$27,20993.82% of revenue

Gray means reported revenue left after expenses for this filing year. It does not necessarily mean cash sitting in a bank account.

Money in and money out

Revenue$91,714

Expenses$123,849

Annual shortfall $32,135 Expenses were higher than revenue for this filing year.

Reported spending amounts

Mission work means the Form 990 category called program services. These are reported accounting categories—not an independent measurement of results.

Mission work (program services)$25,500 · 20.6% of expenses

Management and office costs$1,709 · 1.4% of expenses

See all reported dollar amounts

Revenue$91,714

Expenses$123,849

Assets$272,001

Income$91,714

Contributions$91,714

Mission work (program services)$25,500

Grants given$25,000

Average grant$12,500

People

Leadership and board

Tax year 2019

Names, titles, time, and compensation below are reported by the organization on its Form 990.

See everyone listed on the board or leadership roster (1)

TRACY FORRESTSECRETARY/TREASURER

About this charity

Location: 221 CIRCLE DRIVE, MAITLAND, FL 32751
County: Orange
In care of: TRACY FORREST
Primary officer: TRACY FORREST, DIRECTOR

How to reach them

Phone(407) 644-8923

Filing and classification

Latest tax year: 2019
Tax period began: January 1, 2019
Return type: 990EZ
Tax preparer: WITHUMSMITHBROWNPC
NTEE classification: Scholarships & Student Financial Aid (B82)
IRS tax category: Scholarships & Student Financial Aid
Grant-giving organization: Yes
Revocation date: May 15, 2023