Hoover Foundation Income Account
The Hoover Foundation Income Account is a private foundation established in 1945 and located in Columbus, Ohio. As a 501(c)(3) organization, it has been tax-exempt since July 1947. The foundation operates with a single employee and focuses on grantmaking to nonprofit organizations across multiple sectors.
Financial Overview
From 2024 IRS Form 990-PF · View filing
Total Assets
$39.3M
+5.2% YoY
Annual Giving
$3.7M
-4.6% YoY
Grant Count
62
-11.4% YoY
Avg Grant Size
$60K
+7.7% YoY
Under IRS private-foundation payout rules, Hoover Foundation Income Account reported a distributable amount of $3.1M for 2024 — the minimum it must pay out in qualifying distributions.
Mission & Focus Areas
The foundation gives primarily to hospitals and health agencies, colleges and universities, and community organizations. Primary funding interests include:
- Education
- Community Development
- Health and Hospitals
- Religion
- Social & Human Services
- Arts & Culture
Recent grant distribution patterns show approximately 34% of giving directed to Social & Human Services, 27% to Education, and 13% to Arts & Culture.
Grantmaking
Applicants must submit a letter stating the amount requested and the purpose of the grant. There are no application deadlines.
Review Cycle
.
How to Apply
**
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Geographic Focus
Where this funder awards grants
Approximately 85% of grants remain within Ohio, with significant activity in the Stark County region.
Grant Distribution by State
States
Cities
Financial History
Multi-year comparison from IRS filings
As of December 2024:
- Total Assets: $39,308,812
- Total Revenue: $6,085,266
- Total Expenses: $4,132,218
- Net Income: $1,953,048
- Total Liabilities: $0
| Metric | 2024 | 2023 | 2022 |
|---|---|---|---|
| Total Assets | $39,308,812 | $37,354,224 | $38,506,548 |
| Revenue | $6,085,266 | $3,076,827 | $3,487,383 |
| Expenses | $4,132,218 | $4,200,466 | $3,985,379 |
| Qualifying Distributions | $3,820,062 | $3,991,105 | $3,733,752 |
| Net Investment Income | $5,888,249 | $2,891,050 | $3,292,416 |
| Distributable Amount | $3,071,759 | $2,786,374 | $2,860,864 |
Giving Over Time
Total grant dollars and number of grants per year
Grant Insights
How this funder distributes its grants
Top Recipients
Top 10 recipients in 2024
Grant Size Distribution
201 grants across all recorded years
Giving History
Grant recipients and amounts by year
Among its reported 2024 grants, the largest include Stark Community Foundation Inc ($1,000,000), Arts in Stark ($375,000), United Way Worldwide ($315,000).
| Recipient | Purpose | Amount |
|---|---|---|
| AMERICAN RED CROSS ATHENS, OH | GENERAL OPERATING | $30,000 |
| CANTON PALACE THEATRE CANTON, OH | GENERAL OPERATING | $150,000 |
| UNITED WAY WORLDWIDE ALEXANDRIA, VA | GENERAL OPERATING | $315,000 |
| AMERICAN HEART ASSOCIATION DALLAS, TX | GENERAL OPERATING | $10,000 |
| GREATER STARK COUNTY URBAN LEAGUE CANTON, OH | GENERAL OPERATING | $10,000 |
| AKRON CHILDRENS HOSPITAL FOUNDATION AKRON, OH | GENERAL OPERATING | $80,000 |
| PATHWAY CARING FOR CHILDREN CANTON, OH | GENERAL OPERATING | $25,000 |
| PRISON DISCIPLESHIP MINISTRY POWHATAN, VA | GENERAL OPERATING | $10,000 |
| WATOES OUTREACH PROGRAM CANTON, OH | GENERAL OPERATING | $10,000 |
| JUNIOR ACHIEVEMENT OF NORTH CENTRAL CANTON, OH | GENERAL OPERATING | $25,000 |
Leadership & Key People
Leadership team and compensation from IRS filings
- Lawrence R. Hoover, Chairperson
- Timothy D. Schiltz, Committee Member
- Huntington National Bank, Trustee
- Charles H. Hoover, Director
- Terry A. Moore, Committee Member
- Timothy R. Hoover, Committee Member
Compensation Overview
From 2024 IRS filing
From 2024 filing
| Name | Title | Hours | Compensation |
|---|---|---|---|
| LAWRENCE R HOOVER | CHAIRPERSON | 4 | — |
| TIMOTHY D SCHILTZ | COMMITTEE MEMBER | 1 | — |
| CHARLES H HOOVER | COMMITTEE MEMBER | 1 | — |
| TIMOTHY R HOOVER | COMMITTEE MEMBER | 1 | — |
| TERRY A MOORE | COMMITTEE MEMBER | 1 | — |
| HUNTINGTON NATIONAL BANK | TRUSTEE | 1 | $187,762 |
Contact Information
Address: Lawrence Hoover 400 Market Ave N, Suite 210 Canton, Ohio 44702
Phone: 614-331-9046
Mailing Address: PO Box 1558 Columbus, OH 43216-1558
Frequently Asked Questions
What does Hoover Foundation Income Account fund?
The foundation gives primarily to hospitals and health agencies, colleges and universities, and community organizations. Primary funding interests include: • Education • Community Development • Health and Hospitals • Religion • Social & Human Services • Arts & Culture Recent grant distribution patterns show approximately 34% of giving directed to Social & Human Services, 27% to Education, and 13% to Arts & Culture.
How do I apply for a grant from Hoover Foundation Income Account?
**Grant Activity (2024):** • Made 79 grants totaling approximately $3.3 million • Recent major grants include: • $1,000,000 to Stark Community Foundation • $375,000 to Arts in Stark • $315,000 to United Way Worldwide • $280,000 to Malone University • $240,800 to Arts in Stark • $125,000 to Boys and Girls Club of Massillon • $87,000 to Stark Education Partnership **Application Process:** Applicants must submit a letter stating the amount requested and the purpose of the grant. There are no appli…
Where does Hoover Foundation Income Account make grants?
Approximately 85% of grants remain within Ohio, with significant activity in the Stark County region.
What size grants does Hoover Foundation Income Account award?
In 2024, Hoover Foundation Income Account awarded 62 grants totaling $3.7M — an average of about $60K per grant, based on its IRS Form 990 filings.
How much is Hoover Foundation Income Account required to give away each year?
Private foundations must generally distribute about 5% of their assets annually. For 2024, Hoover Foundation Income Account reported a distributable amount of $3.1M on its IRS Form 990-PF — the minimum it must pay out in qualifying distributions.
What is Hoover Foundation Income Account's EIN?
Hoover Foundation Income Account's EIN (Employer Identification Number) is 34-6510994. IRS Form 990 filing data is available on this page for 2020–2024.
Explore Open Grants
Browse active grant opportunities in Hoover Foundation Income Account's focus areas in our free grants database
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Data last updated June 2026. Sourced from IRS Form 990-PF filings. Research dossier generated April 2026.
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