The Eric D & Steven D Hovde Foundation
The Eric D & Steven D Hovde Foundation is a private foundation based in Madison, Wisconsin. It supports organizations working with vulnerable children, including through holistic care and youth development, and also supports efforts to end multiple sclerosis.
The Eric D & Steven D Hovde Foundation at a glance
In short: The Eric D & Steven D Hovde Foundation gave $1.4M across 18 grants in 2025 (avg $79K), mostly in New York. 24% of 2025 grantees were new. Source: 2025 IRS Form 990-PF.
- Annual giving (2025)
- $1,422,108
- -7.3% vs 2024
- Grants made (2025)
- 18
- -10.0% vs 2024
- Average grant
- $79,006
- +3.0% vs 2024
- Median grant
- $27,788
- Total assets
- $7,193,452
- +4.7% vs 2024
- New grantees (estimate)
- 24% first-time grantees (4 of 17, 2025; small sample)
- Primary geography
- New York (54% of itemized 2025 grant dollars)
- Latest 990 filing
- Form 990-PF, 2025 View filing
Data from IRS Form 990-PF, 2025; updated October 2026. New grantees are estimated by matching recipient names across years (methodology).
How to apply to The Eric D & Steven D Hovde Foundation
- Accepts unsolicited proposals
- No
- Invitation Only
-
The foundation does not accept unsolicited requests for funds. Applications are accepted by invitation only; organizations may introduce themselves, and the foundation will follow up if interested.
- Contact
Mailing address: 122 West Washington Ave 350, Madison, WI 53703
Phone: (608) 255-5175
Website: https://hovdefoundation.org
Application details from Grantable's research on the foundation's public materials; confirm on its website before applying.
Who The Eric D & Steven D Hovde Foundation funds
How this funder distributes its grants
Top Recipients
Top 10 recipients in 2025
The largest 2025 recipient was Many Hopes ($770K). Together the top 10 received $1.3M.
Organizations only. It also paid 2 grants to individuals ($96,966), which are not listed by name.
Grant Size Distribution
84 grants across all recorded years
The most common grant size was under $50K: 49 grants of 84 (58%).
Geographic Focus
Where this funder awards grants
The foundation prioritizes giving in Latin America, Africa, and Wisconsin. Its domestic grants page says it supports U.S.-based organizations that deliver local impact and prioritizes nonprofits located in and serving Wisconsin. Its Hovde Homes initiative focuses on grassroots nonprofits in Latin America and Africa that are led by local communities and serve vulnerable children.
In 2025, 54% of grant dollars went to recipients in New York, 11% to Wisconsin, 4% to Texas, and 4% to California; the filing data also lists an additional recipient-state share of 25% without identifying the state. Grant purposes included support for Hovde Homes in Bolivia, Ghana, and Honduras.
Grant Distribution by State
Share of 2025 grant dollars across all 18 itemized grants.
Cities
Is The Eric D & Steven D Hovde Foundation open to new grantees?
24%
first-time grantees, 2025
In 2025, 4 of 17 grantees (24%) were first-time recipients. With only 17 grantees, that is a small sample: one grantee more or less moves the share by about 6 points. First grants averaged $33K; repeat grants $99K. How we count
Medians: $16K first-time, $33K repeat.
- 59% of 2025 grantees were also funded in 2024. Method
- Giving fell 28% from 2022 to 2025. Method
- In 2025 it paid out 691% of its IRS minimum distribution (the 5% rule). Method
Estimate from itemized grant lists in IRS Form 990-PF filings (2020–2025). Recipient names are matched across years, so a renamed or misspelled grantee can look new; grants to individuals are left out. Methodology.
Giving History
Giving Over Time
Total grant dollars and number of grants per year
From 2020 to 2025, annual grant giving ranged from $661K (2021) to $2.0M (2022). In 2025 it made 18 grants totaling $1.4M.
Grants by year
Grant recipients and amounts by year
| Recipient | Purpose | Amount |
|---|---|---|
| Many Hopes Bronxville, NY | General contribution to many hopes in support of other partners in several countries | $770,000 |
| Hogar De Ninos Alalay | Hovde House Bolivia | $150,100 |
| Challenging Heights | Hovde House Ghana Support | $100,000 |
| 2 grants to individuals Recipients not named | — | $96,966 |
| Pothawira International Spring, TX | Support initiatives for women & children in malawi, hovde home costs | $50,000 |
| The River Food Pantry Madison, WI | Capital Campaign Support | $50,000 |
| Thorn El Segundo, CA | Third Dispursement of 5 Year Commitment of $250,000 | $50,000 |
| National Multiple Sclerosis Society Hartland, WI | Funding dr. Drosu for postdoctoral research fellowship at mass general hospital | $32,921 |
| Legado De Esperanza Foundation Wilmington, DE | Hovde House Hondouras Operations | $30,576 |
| Bethel Horizons Foundation Inc Madison, WI | General Support | $25,000 |
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Financial History
Multi-year comparison from IRS filings
| Filing year | Total Assets | Revenue | Expenses | Grants paid | Grants | Qualifying Distributions | Net Investment Income | Distributable Amount |
|---|---|---|---|---|---|---|---|---|
| 2025 | $7,193,452 | $2,684,766 | $2,472,562 | $1,422,108 | 18 | $1,750,521 | $320,633 | $253,400 |
| 2024 | $6,872,728 | $481,652 | $2,029,179 | $1,534,138 | 20 | $1,846,696 | $373,368 | $334,121 |
| 2023 | $9,171,095 | $207,213 | $2,587,625 | $1,699,391 | 18 | $2,210,933 | $96,441 | $433,166 |
| 2022 | $11,112,638 | $1,949,533 | $2,415,822 | $1,968,931 | 16 | $2,600,550 | $840,168 | $477,737 |
| 2021 | $11,918,657 | $962,613 | $1,244,718 | $660,956 | 12 | $1,167,521 | $735,653 | $531,138 |
| 2020 | $11,842,243 | $1,058,225 | $1,791,354 | $1,203,922 | 16 | — | $776,441 | $505,340 |
Under IRS private-foundation payout rules, The Eric D & Steven D Hovde Foundation reported a distributable amount of $253K for 2025 — the minimum it must pay out in qualifying distributions.
Research compiled by Grantable AI from public sources. Last updated October 2026.
Mission & Focus Areas
The foundation’s stated vision is “a world in which all children can smile, knowing they are safe and loved.” Its focus areas are providing holistic care to vulnerable children, equipping youth for success as adults, and enhancing the effectiveness and resilience of nonprofit partners. The foundation also says it continues to support work to end multiple sclerosis.
The foundation describes its approach as building lasting partnerships, particularly with organizations that have expertise and a proven track record. It prioritizes locally led organizations and says it gives to both secular and non-secular nonprofits. Its website identifies Latin America, Africa, and Wisconsin as geographic priorities.
Examples of 2025 grantees illustrate the range of supported work. Many Hopes says it rescues children from oppression and equips them to pursue justice for others. Legado de Esperanza Foundation describes its work as caring for orphaned and vulnerable children in Honduras through foster care, crisis care, transition care, and family preservation. The River Food Pantry says its mission is to provide food, resources, and faith to build a stronger community.
Grantmaking
In 2025, the foundation reported 18 grants totaling $1,422,108. Grant amounts ranged from $1,568 to $770,000, with a median grant of $27,788. The largest grant was $770,000 to Many Hopes, for general support of its work with partners in several countries. Other notable grants included $150,100 to Hogar de Niños Alalay for the Bolivia Hovde House, $100,000 to Challenging Heights for Ghana Hovde House support, and $94,336 to an individual recipient for educational expenses for Legacy HFL children and equipment and furniture for the Hovde Foundation campus.
Additional 2025 grants included $50,000 to Pothawira International for initiatives for women and children in Malawi and Hovde Home costs; $50,000 to The River Food Pantry for its capital campaign; and $50,000 to Thorn as the third disbursement of a five-year commitment. The foundation also reported grants of $32,921 to the National Multiple Sclerosis Society for a postdoctoral research fellowship, $30,576 to Legado de Esperanza Foundation for Hovde House Honduras operations, and $25,000 each to Bethel Horizons Foundation and They Playing Field for general support and capital campaign support, respectively.
The foundation says it accepts applications by invitation only; prospective organizations may introduce themselves, and the foundation will follow up if interested. Domestic applicants must have a programmatic fit with one or more of its focus areas. The foundation generally does not fund art, scholarships, endowments, political campaigns or candidates, events, or individual assistance. Awardees must complete an annual grant report.
Leadership & Key People
Leadership team and compensation from IRS filings
The 2025 filing lists Eric D. Hovde and Steven D. Hovde as trustees and Nicole Bice as executive director.
The Eric D & Steven D Hovde Foundation is led by Nicole Bice, Executive Director on every filing since 2020; 1 of 3 officers listed in 2025 is compensated.
Officers on the 2025 filing
Nicole Bice
Executive Director
On filings since 2020
40 hrs/week
$110K (2020) → $112K (2025)
Eric D. Hovde
Trustee
On filings since 2020
2 hrs/week
No compensation reported
Steven D. Hovde
Trustee
On filings since 2020
1 hr/week
No compensation reported
Data from IRS Form 990 filings, 2020–2025. "On filings since" is the earliest filing we hold that lists the person; hours are average hours per week as reported.
Compensation Overview
From 2025 IRS filing
The highest reported compensation on the 2025 filing was $112K, to Nicole Bice (Executive Director).
Frequently asked questions about The Eric D & Steven D Hovde Foundation
How much does The Eric D & Steven D Hovde Foundation give each year?
The Eric D & Steven D Hovde Foundation gave $1.4M across 18 grants in 2025, according to its 2025 IRS Form 990-PF. In 2024 it gave $1.5M across 20 grants.
What is The Eric D & Steven D Hovde Foundation's typical grant size?
The Eric D & Steven D Hovde Foundation's median grant in 2025 was $27,788, and its average grant was $79,006, across 18 grants on its 2025 IRS Form 990-PF. Organizations receiving their first grant from The Eric D & Steven D Hovde Foundation that year got $33K on average.
Where does The Eric D & Steven D Hovde Foundation give grants?
The Eric D & Steven D Hovde Foundation gives mostly in New York: 54% of the grant dollars itemized on its 2025 IRS Form 990-PF went to recipients there. The next largest state was Wisconsin (11%). The most frequent recipient cities were Madison, WI (5 grants).
Does The Eric D & Steven D Hovde Foundation give general operating support?
Yes: 28% of The Eric D & Steven D Hovde Foundation's 2025 grants with a stated purpose (5 of 18) were for general or operating support, per its 2025 IRS Form 990-PF.
Who are The Eric D & Steven D Hovde Foundation's largest grantees?
The Eric D & Steven D Hovde Foundation's largest 2025 grantees include Many Hopes ($770,000), Hogar De Ninos Alalay ($150,100) and Challenging Heights ($100,000), according to its 2025 IRS Form 990-PF. It also paid 2 grants to individuals ($96,966), which are not listed by name. Together they received 72% of its itemized 2025 grant dollars.
How large is The Eric D & Steven D Hovde Foundation?
The Eric D & Steven D Hovde Foundation reported $7.2M in total assets on its 2025 IRS Form 990-PF. It paid out $1.8M in qualifying distributions that year, against a required minimum of $253K (roughly 5% of its investment assets).
What does The Eric D & Steven D Hovde Foundation fund?
The foundation’s stated vision is “a world in which all children can smile, knowing they are safe and loved.” Its focus areas are providing holistic care to vulnerable children, equipping youth for success as adults, and enhancing the effectiveness and resilience of nonprofit partners. See mission & focus areas ↑
How do I apply for a grant from The Eric D & Steven D Hovde Foundation?
The foundation does not accept unsolicited requests for funds. Eligibility and process details are in the grantmaking section of this profile. See how to apply ↑
What is The Eric D & Steven D Hovde Foundation's EIN?
The Eric D & Steven D Hovde Foundation's EIN (Employer Identification Number) is 52-2107093. IRS Form 990 filing data is available on this page for 2020–2025.
Does The Eric D & Steven D Hovde Foundation accept unsolicited proposals?
No, according to Grantable's research on the foundation's published guidelines. See how to apply ↑
Data last updated October 2026. Sourced from IRS Form 990-PF filings. Research dossier generated October 2026.
Data update history
(3)
When this profile's IRS filing data changed on Grantable
- Updated Form 990-PF for fiscal year 2022 (received by the IRS March 14, 2024)
- Added Form 990-PF for fiscal year 2025 (received by the IRS July 23, 2026)
- IRS filings on file for fiscal years 2020–2024
Live grants for the work The Eric D & Steven D Hovde Foundation funds
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Cite this profile
Grantable. (2026). The Eric D & Steven D Hovde Foundation funder profile. GrantGraph. Retrieved October 21, 2026, from https://grantable.co/funders/the-eric-d-and-steven-d-hovde-foundation-morg_cfd1e5c2023549ddb7a47b53f45399a4
BibTeX
@misc{grantable_522107093_2026,
author = {{Grantable}},
title = {{The Eric D \& Steven D Hovde Foundation funder profile}},
howpublished = {GrantGraph},
year = {2026},
url = {https://grantable.co/funders/the-eric-d-and-steven-d-hovde-foundation-morg_cfd1e5c2023549ddb7a47b53f45399a4},
note = {Accessed 2026-10-21. Data licensed CC BY 4.0}
}The figures on this page are open data under CC BY 4.0: reuse them with credit to Grantable and a link. Download the data.
Figures come from The Eric D & Steven D Hovde Foundation's IRS filings (methodology). AI-written summaries, news items and logos are not covered by the open licence. Spot an error? Email hello@grantable.co.
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