HB Foundation Inc
HB Foundation Inc is a private foundation focused on Philanthropy, Voluntarism & Grantmaking, based in Las Cruces, NM. IRS filing data is available from 2022 through 2024. As of 2024, the organization holds $500K in total assets. In 2024, it awarded 6 grants totaling $21K.
Key facts about HB Foundation Inc
- EIN
- 86-1901735
- Latest 990 filing
- Form 990-PF, 2024
- Annual giving (2024)
- $21,000
- Grants made (2024)
- 6
- Average grant
- $3,500
- Median grant
- $3,000
- Total assets
- $499,797
- Primary geography
- New Mexico (64% of itemized 2024 grant dollars)
Data from IRS Form 990-PF, 2024; updated September 2026.
Who HB Foundation Inc funds
By grant dollars, the top recipient states for HB Foundation Inc's 6 itemized 2024 grants were New Mexico (64%) and Illinois (36%). The most frequent recipient cities were Las Cruces, NM (3 grants). None of its 6 grants with a stated purpose were described as general or operating support.
How HB Foundation Inc gives
- In 2024 it paid out 107% of its IRS minimum distribution (the 5% rule). Method
From the foundation's IRS Form 990-PF filings. Methodology.
Next steps with HB Foundation Inc
- How to evaluate HB Foundation Inc as a funder
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Financial Overview
From 2024 IRS Form 990-PF · View filing
Total Assets
$500K
+45.9% YoY
Annual Giving
$21K
+61.4% YoY
Grant Count
6
+50.0% YoY
Avg Grant Size
$4K
+7.6% YoY
Under IRS private-foundation payout rules, HB Foundation Inc reported a distributable amount of $20K for 2024 — the minimum it must pay out in qualifying distributions.
About HB Foundation Inc
Based on IRS filings
HB Foundation Inc is a private foundation focused on Philanthropy, Voluntarism & Grantmaking, based in Las Cruces, NM. IRS filing data is available from 2022 through 2024. As of 2024, the organization holds $500K in total assets. In 2024, it awarded 6 grants totaling $21K.
Focus Areas
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Geographic Focus
Where this funder awards grants
Grant Distribution by State
Share of all 6 itemized 2024 grant dollars.
States
Cities
Financial History
Multi-year comparison from IRS filings
| Metric | 2024 | 2023 | 2022 |
|---|---|---|---|
| Total Assets | $499,797 | $342,569 | $115,172 |
| Revenue | $177,859 | $242,026 | $137,672 |
| Expenses | $22,631 | $14,629 | $22,500 |
| Qualifying Distributions | $21,550 | $13,008 | $22,500 |
| Net Investment Income | — | — | — |
| Distributable Amount | $20,048 | $11,241 | $6,092 |
Data update history
When this profile's IRS filing data changed on Grantable
- IRS filings on file for fiscal years 2022–2024
Giving Over Time
Total grant dollars and number of grants per year
Grant Insights
How this funder distributes its grants
Top Recipients
Top 6 recipients in 2024
Grant Size Distribution
14 grants across all recorded years
Giving History
Grant recipients and amounts by year
Among its reported 2024 grants, the largest recipients include Ronald McDonald ($7,500), El Ranchito De Los Ninos ($5,000), Borderland Arts Foundation ($4,000).
| Recipient | Purpose | Amount |
|---|---|---|
| RONALD MCDONALD Chicago, IL | SUPPORT SERVICES | $7,500 |
| EL RANCHITO DE LOS NINOS Los Lunas, NM | CHILDREN'S HOME | $5,000 |
| BORDERLAND ARTS FOUNDATION Las Cruces, NM | SUPPORT SERVICES | $4,000 |
| TURNING POINT OF LAS CRUCES Las Cruces, NM | PREGNANCY SUPPORT SERVICES | $2,000 |
| NEW HORIZONS SYMPHONY Las Cruces, NM | MENTORING | $2,000 |
| WOMEN'S HOUSING COALITION Albuquerque, NM | WOMEN'S SHELTER | $500 |
Leadership & Key People
Officers and directors from IRS filings
Compensation Overview
No officer or director reported compensation in the available filings.
From 2024 IRS filing
| Name | Title | Hours | Compensation |
|---|---|---|---|
| Joshua Hakes | President | — | — |
| Kimball Hakes | CFO | — | — |
| Christopher Hakes | Director | — | — |
Subject Areas
Focus areas based on grantmaking activity
Frequently Asked Questions
What is HB Foundation Inc?
HB Foundation Inc is a private foundation focused on Philanthropy, Voluntarism & Grantmaking, based in Las Cruces, NM. It holds $500K in total assets as of 2024.
How large is HB Foundation Inc?
As of 2024, HB Foundation Inc holds $500K in total assets with $178K in annual revenue. It awarded 6 grants totaling $21K in 2024.
Where does HB Foundation Inc operate?
HB Foundation Inc has awarded grants in Illinois, New Mexico.
What size grants does HB Foundation Inc award?
In 2024, HB Foundation Inc awarded 6 grants totaling $21K — an average of about $4K per grant, based on its IRS Form 990 filings.
How much is HB Foundation Inc required to give away each year?
Private foundations must generally distribute about 5% of their assets annually. For 2024, HB Foundation Inc reported a distributable amount of $20K on its IRS Form 990-PF — the minimum it must pay out in qualifying distributions.
What is HB Foundation Inc's EIN?
HB Foundation Inc's EIN (Employer Identification Number) is 86-1901735. IRS Form 990 filing data is available on this page for 2022–2024.
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Data last updated September 2026. Sourced from IRS Form 990-PF filings.