The Eric D & Steven D Hovde Foundation
The Eric D & Steven D Hovde Foundation is a private 501(c)(3) foundation established in 1998 and based in Madison, Wisconsin. The foundation operates as a family foundation dedicated to supporting vulnerable children and youth through direct care, education, and partnership with nonprofit organizations globally.
Financial Overview
From 2024 IRS Form 990-PF · View filing
Total Assets
$6.9M
-25.1% YoY
Annual Giving
$1.5M
-9.7% YoY
Grant Count
20
+11.1% YoY
Avg Grant Size
$77K
-18.8% YoY
Under IRS private-foundation payout rules, The Eric D & Steven D Hovde Foundation reported a distributable amount of $334K for 2024 — the minimum it must pay out in qualifying distributions.
Mission & Focus Areas
The foundation's mission is to build a world in which all children can smile, knowing they are safe and loved. The foundation aids organizations dedicated to nurturing and supporting vulnerable children, ensuring they are happy, healthy, and prepared for a promising future.
Primary funding areas include:
- Vulnerable Children Support: Providing holistic care to vulnerable children, particularly those experiencing homelessness
- Youth Development: Equipping youth for success as adults
- Nonprofit Effectiveness: Enhancing the effectiveness and resilience of nonprofit partners
- Multiple Sclerosis Research: Supporting clinical research in search of a cure for multiple sclerosis
- International Humanitarian Relief: Charitable relief in devastated areas around the world
Grantmaking
The foundation does not accept unsolicited applications. Prospective grantees must pursue funding through networking and relationship-building.
How to Apply
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Geographic Focus
Where this funder awards grants
The foundation operates internationally with a focus on vulnerable children globally. Domestically, the foundation's grants program primarily supports organizations in Wisconsin, though it also funds work in Texas and Washington. The foundation maintains an international presence with partnerships in multiple countries, including Rwanda, Bolivia, and Malawi.
Grant Distribution by State
Cities
Financial History
Multi-year comparison from IRS filings
As of 2024:
- Total assets: $6,872,728
- Total revenues: $481,652
- Total expenses: $2,029,179
- Total liabilities: $60,900
- Number of employees: 1
| Metric | 2024 | 2023 | 2022 |
|---|---|---|---|
| Total Assets | $6,872,728 | $9,171,095 | $11,586,371 |
| Revenue | $481,652 | $207,213 | $2,423,267 |
| Expenses | $2,029,179 | $2,587,625 | $2,415,822 |
| Qualifying Distributions | $1,846,696 | $2,210,933 | $2,600,550 |
| Net Investment Income | $373,368 | $96,441 | $1,313,902 |
| Distributable Amount | $334,121 | $433,166 | $471,152 |
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
82 grants across all recorded years
Giving History
Grant recipients and amounts by year
Among its reported 2024 grants, the largest include Many Hopes ($930,944), Hogar De Ninos Alalay ($115,000), Pothawira International ($100,000).
| Recipient | Purpose | Amount |
|---|---|---|
| ASOCIACION NUEVO AMANECER JUNTOS | HOVDE HOUSE PERU - OPERATIONS | $54,232 |
| BETHEL HORIZONS FOUNDATION INC MADISON, WI | 2024 CONTRIBUTION | $25,000 |
| CLEAN LAKES ALLIANCE MADISON, WI | TABLE SPONSORSHIP FOR ANNUAL MEETING | $15,000 |
| HOGAR DE NINOS ALALAY | HOVDE HOUSE BOLIVIA | $115,000 |
| HOPE FOR LIFE SEATTLE, WA | YOUTH IN RWANDA WITH HOLISTIC, FAMILY-CENTERED & TRAUMA INFORMED INTERVENTIONS TO ESCAPE HOMELESSNESS | $50,000 |
| JUNIOR ACHIEVEMENT OF WISCONSIN MONONA, WI | 2022-23 DANE AREA CORPORATE CAMPAIGN | $1,000 |
| MANY HOPES BRONXVILLE, NY | GENERAL CONTRIBUTION TO MANY HOPES IN SUPPORT OF OTHER PARTNERS IN SEVERAL COUNTRIES | $930,944 |
| POTHAWIRA INTERNATIONAL SPRING, TX | SUPPORT INITIATIVES FOR WOMEN & CHILDREN IN MALAWI, HOVDE HOME COSTS | $100,000 |
| THE ROAD HOME OF DANE COUNTY MADISON, WI | 2023 AND 2024 PLEDGES | $10,000 |
| CONSULTORES EMPRESARIALES | HOVDE HOME COSTA RICA OPERATIONS | $84,308 |
Leadership & Key People
Leadership team and compensation from IRS filings
The foundation was founded by brothers Eric D. Hovde and Steven D. Hovde:
Eric D. Hovde: Earned degrees in economics and international relations from the University of Wisconsin. Founder of Hovde Financial, which he developed into a top-tier investment bank in the banking and thrift industry. Currently serves as president and CEO of Hovde Capital Advisors LLC (asset management) and president, CEO, and CIO of Hovde Private Equity Advisors LLC (private equity).
Steven D. Hovde: Graduated from the University of Wisconsin and received his J.D. from Northwestern University. Served as general counsel and vice president of a national commercial real estate development firm in Chicago. Established Hovde Financial's Chicago office in 1988 and serves as president and CEO.
Compensation Overview
From 2024 IRS filing
From 2024 filing
| Name | Title | Hours | Compensation |
|---|---|---|---|
| ERIC D HOVDE | TRUSTEE | 2 | — |
| STEVEN D HOVDE | TRUSTEE | 1 | — |
| NICOLE BICE | EXECUTIVE DIRECTOR | 40 | $140,022 |
Recent Activity
Recent developments and announcements
The foundation has established partnerships with 170+ nonprofit organizations since inception and currently supports approximately 2,770 children annually through its grantmaking and program initiatives. The foundation continues to expand its Hovde Homes program globally while maintaining its commitment to multiple sclerosis research and international humanitarian relief efforts.
Eric D And Steven D Hovde Foundation - Full FilingSubject Areas
Focus areas based on grantmaking activity
Frequently Asked Questions
What does The Eric D & Steven D Hovde Foundation fund?
The foundation's mission is to build a world in which all children can smile, knowing they are safe and loved. The foundation aids organizations dedicated to nurturing and supporting vulnerable children, ensuring they are happy, healthy, and prepared for a promising future. Primary funding areas include: • **Vulnerable Children Support**: Providing holistic care to vulnerable children, particularly those experiencing homelessness • **Youth Development**: Equipping youth for success as adults • …
How do I apply for a grant from The Eric D & Steven D Hovde Foundation?
**Grant Activity:** • Total grants awarded since inception: 620+ • Total amount granted since inception: $19 million+ • Recent annual grants: 16 grants awarded in 2024 • Total giving (2024): $1,534,138 • Typical award range: $400–$1,277,549 **Application Process:** The foundation does not accept unsolicited applications. Prospective grantees must pursue funding through networking and relationship-building. **Notable Programs:** The foundation operates the Hovde Homes program, its primary intern…
Where does The Eric D & Steven D Hovde Foundation make grants?
The foundation operates internationally with a focus on vulnerable children globally. Domestically, the foundation's grants program primarily supports organizations in Wisconsin, though it also funds work in Texas and Washington. The foundation maintains an international presence with partnerships in multiple countries, including Rwanda, Bolivia, and Malawi.
What size grants does The Eric D & Steven D Hovde Foundation award?
In 2024, The Eric D & Steven D Hovde Foundation awarded 20 grants totaling $1.5M — an average of about $77K per grant, based on its IRS Form 990 filings.
How much is The Eric D & Steven D Hovde Foundation required to give away each year?
Private foundations must generally distribute about 5% of their assets annually. For 2024, The Eric D & Steven D Hovde Foundation reported a distributable amount of $334K on its IRS Form 990-PF — the minimum it must pay out in qualifying distributions.
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 2020–2024.
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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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