Hobart Ames Foundation

Tax-deductible

Boston, MA501(c)(3)Since 1949UnclassifiedEIN 04-6009940Revenue $24.6M in FY2024

On file with the IRSNorthern Tr 125 Summer St Ste 140, 02110-0000 · Boston, MATax-exempt since Jul 1953Publicly supported charity — 170(b)(1)(A)(vi)

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The Ames plantation located near grand junction, tennessee is operated for scientific & educational purposes under a cooperative program planned & approved by the trustees and the university of tennessee.

501(c)(3) charity; gifts are tax-deductible.
97¢ of each $1 spent went to programs.
Run by 3 volunteers.
Mission: Form 990 Part I, line 1 · Status: IRS Pub. 78 · Programs: Part IX · People: Part I, lines 5–6

Before you give

FY2024 · Form 990Independent: from IRS data, not the org
Download 990
IRS status
501(c)(3)
not on the IRS revocation list
Looks good: listed by the IRS and not on the revocation list.
IRS BMF · Auto-Revocation List
Tax-deductible gifts
Yes
Donations are tax-deductible
Looks good: the IRS lists gifts to it as deductible.
IRS Pub. 78 · IRS BMF
Latest return
FY2024
latest Form 990
Looks good: the latest return is for FY2024, 2 tax years back; within 2 tax years.
IRS e-file · Filing history
Surplus or deficit
2 of 5
filings with a surplus
Average surplus $4.4M a year · 58% of revenue · last 5 filings
Worth a look: a surplus in 2 of the last 5 filings.
Pt I · Ln 19 · 5 filings
Spent on programs
97%
of spending
Looks good: 97% of spending went to programs; 75% or more.
Pt IX · Ln 25 · col B
Pay to officers and key staff
$24K
to officers and key staff · 0.7% of spending
Looks good: pay to officers and key staff is 1% of spending; 15% or less.
Pt VII · Sec A
Cash reserves
1 mo
of spending, in cash
Fine: 1.4 months of spending in cash; 1 to 3.
Pt X · Ln 1–2 · Pt I · Ln 18
Liabilities
$69K
0.2% of total assets
Looks good: liabilities are 0% of assets; 50% or less.
Pt X · Ln 26
Independent board members
3
of 3 voting members
Looks good: 3 of 3 voting members are independent, a majority.
Pt VI · Ln 1a–1b
Looks goodFineWorth a lookConcernNo data yetTap a box for the reason.
Revenue
$24.6M
+315% vs prior year
Spent
$3.3M
To programs
97%
Net assets
$38.4M
By yearFY2020–FY2024
Revenue
$24.6M
FY2024▲ +315%
Tap a bar for its year
Revenue by fiscal year
FY2020$2.2M
FY2021$2.8M
FY2022$2.2M
FY2023$5.9M
FY2024$24.6M
Expenses
$3.3M
FY2024▼ -4%
Tap a bar for its year
Expenses by fiscal year
FY2020$2.8M
FY2021$2.9M
FY2022$3.2M
FY2023$3.5M
FY2024$3.3M
Net assets
$38.4M
FY2024▲ +134%
Tap a bar for its year
Net assets by fiscal year
FY2020$14.2M
FY2021$14.1M
FY2022$13.2M
FY2023$16.4M
FY2024$38.4M

From the FY2024 Form 990 · figures checked against the IRS filing · see the original

Form 990 (PDF) Claim

Is it real?

Yes. Never revoked by the IRS. Latest filing on record: FY2024. IRS ruling in Jul 1953.

IRS Pub. 78 · IRS Auto-Revocation List · IRS Business Master File

Where the money goes

97 cents of each dollar spent went to programs.

Program services 97% · $3.3M Management & general 3% · $94K

Form 990 Part IX, line 25, columns B–D. Every line is in By the numbers.

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Who runs it and what they're paid

4 people listed on the 990; $24K paid to officers and key staff.

Part VII, Section A · reportable compensation
Co-Trustee
$6,952Pt VII · Sec A
$6,952Pt VII · Sec A
Co-Trustee
$6,952Pt VII · Sec A
Plantation Manager
$3,000Pt VII · Sec A

Compensation history total reportable pay by year · 6 named individuals · Part VII

NameFY2024FY2023FY2022FY2021FY2020
Bank of America——$106,937$114,724$101,970
Robert H Frey$6,952$4,595$7,557$8,101$7,213
Mr Oliver a Spaulding$6,952$4,595$7,557$8,101$7,213
Augusta Haydock$6,952$4,595$7,557$8,101$7,213
Matthew Backus$3,000————
Rick Carlise—$3,000$3,000$3,000$3,000

Total reportable compensation (Form 990 Part VII column D / Schedule J column E) by filing year, matched by name within this organization. The Schedule J base / bonus / deferred breakdown is not parsed into this dataset.

See Hobart Ames Foundation executive salaries →

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Questions the 990 asks

The form asks each of these directly. These are the filed answers.

  • Family or business ties among officersPt VI · Ln 2No
  • Top official's pay set by an independent reviewPt VI · Ln 15aNo

Programs and updates

Operates a plantation for scientific and educational purposes.

Provided by the organization

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1 program · $3.3M · in their own filed words · FY2024
01

Research and educational programs at ames plantation focus on the preservation, interpretation, and understanding of the agricultural and cultural heritage of southwestern tennessee. Work is conducted under a cooperative program between the ames plantation trustees and the university of TENNESSEE.RESEARCH efforts include beef cattle…

$3.3Mprogram expense

By the numbers

The FY2024 990, line by line.

1The main four
Money inPt VIII
$24.6M
Ln 12
Investment incomeLn 3$22.0M
Fees for servicesLn 2g$1.5M
Gifts and grantsLn 1h$1.2M
Money outPt IX
$3.3M
Ln 25
Programscol B$3.3M
Managementcol C$94K
Owns and owesPt X
$38.4M
net assets · Ln 32
Cash and savingsLn 1–2$377K
Total assetsLn 16$38.5M
LiabilitiesLn 26$69K
PeoplePt VI, VII
4
listed · VII A
PaidVII A4
Voting boardVI 1a3
IndependentVI 1b3
2In more detail
Revenue in detailPt VIII
Gifts and grantsLn 1h$1.2M
Government grantsLn 1e$5K
Fees for servicesLn 2g$1.5M
Investment incomeLn 3$22.0M
Other incomeLn 4–11$3K
Gains on assetsLn 7$21.7M
Total revenueLn 12$24.6M
Assets in detailPt X, end of year
SavingsLn 2$377K
Cash and savings togetherLn 1–2$377K
InvestmentsLn 11–13$34.1M
Land, buildings, equipmentLn 10c$2.8M
Other assetsLn 15$523K
Total assetsLn 16$38.5M
LiabilitiesLn 26$69K
Net assetsLn 32$38.4M
OperationsPt I, VI
EmployeesI 50
VolunteersI 63
Fiscal year endsHeaderDecember
Conflict-of-interest policyVI 12aYes
Whistleblower policyVI 13Yes
Records policyVI 14Yes
3Year over year
Balance sheet, start vs end of yearPt X · col A, B
LineStart FY24End FY24
Cash and savingsLn 1–2$523K$377K
InvestmentsLn 11–13$11.7M$34.1M
Land, buildings, equipmentLn 10c$3.3M$2.8M
Total assetsLn 16$16.8M$38.5M
LiabilitiesLn 26$359K$69K
Net assetsLn 32$16.4M$38.4M
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Pay of current officers, directors and key staffLn 5$24K$10K$14K
Legal feesLn 11b$46K$46K
Accounting feesLn 11c$34K$34K
Investment management feesLn 11f$56K$56K
Other fees for servicesLn 11g$10K$10K
Other expenses (24a–d)Ln 24$3.0M$3.0M
All other expensesLn 24e$136K$136K
Total functional expensesLn 25$3.3M$3.3M$94K$0

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2024 Latest Viewing $24.6M$3.3M$21.3M$38.4M 990 PDF
FY2023 $5.9M$3.5M$2.5M$16.4M 990 PDF
FY2022 $2.2M$3.2M−$1.0M$13.2M 990 PDF
FY2021 $2.8M$2.9M−$115K$14.1M 990 PDF
FY2020 $2.2M$2.8M−$576K$14.2M 990 PDF

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Schedules filed Part IV

III · Programs I · Grants R · Related orgs G · Fundraising L · Interested persons A · Public support F · Foreign M · Noncash
See the full FY2024 990 (6 parts)
Part I · Summary $24,629,665 revenue, 12 lines filed
I-8 Contributions and grantsPrior year $681,455$1,199,767
I-9 Program service revenuePrior year $1,388,065$1,472,610
I-10 Investment incomePrior year $3,697,768$21,954,288
I-11 Other revenuePrior year $166,577$3,000
I-12 Total revenuePrior year $5,933,865$24,629,665
I-13 Grants and similar amounts paidPrior year $0$0
I-14 Benefits paid to membersPrior year $0$0
I-15 Salaries and benefitsPrior year $16,785$23,856
I-16a Professional fundraising feesPrior year $0$0
I-17 Other expensesPrior year $3,454,329$3,324,186
I-18 Total expensesPrior year $3,471,114$3,348,042
I-19 Revenue less expensesPrior year $2,462,751$21,281,623
Part VI · Governance 3 of 3 board members independent, 1 to look at
VI-1a Voting members of the governing body3
VI-1b Independent voting members3
VI-15a Process for setting top official's payNo
VI-2 Family or business relationship among officers or directorsNo
VI-12a Written conflict of interest policyYes
VI-13 Written whistleblower policyYes
VI-14 Document retention and destruction policyYes
Part VIII · Statement of revenue $24,629,665 across 7 lines filed
Lines not itemized here account for $3,000 of total revenue; see the IRS return.
VIII-1e Government grants$5,015
VIII-1f All other contributions, gifts and grants$1,194,752
VIII-1h Total contributions, gifts and grants$1,199,767
VIII-2a-f Program service revenue, itemized rows (sum of 2a–2f as filed)Related to mission $1,472,610$1,472,610
VIII-3 Investment incomeExcluded from tax $208,807$208,807
VIII-7 Net gain or loss on sales of assetsExcluded from tax $21,745,481$21,745,481
VIII-12 Total revenueRelated to mission $1,475,610 · Unrelated business $0 · Excluded from tax $21,954,288$24,629,665
Part IX · Statement of functional expenses $3,348,042 across 7 lines filed
IX-5 Pay of current officers, directors and key staffPrograms $9,542 · Management $14,314$23,856
IX-11b Legal feesManagement $45,509$45,509
IX-11c Accounting feesManagement $34,375$34,375
IX-11f Investment management feesPrograms $55,678$55,678
IX-11g Other fees for servicesPrograms $9,767$9,767
IX-24 Other expenses (24a–d)Programs $3,042,566$3,042,566
IX-24e All other expensesPrograms $136,291$136,291
IX-25 Total functional expensesPrograms $3,253,844 · Management $94,198 · Fundraising $0$3,348,042
Part X · Balance sheet $38,481,275 assets, 13 lines filed
X-2 Savings and temporary cash investmentsStart of year $522,596$377,081
X-4 Accounts receivableStart of year $244,254$49,046
X-8 Inventories for sale or useStart of year $563,017$572,822
X-9 Prepaid expenses and deferred chargesStart of year $83,579$69,171
X-10c Land, buildings and equipment, netStart of year $3,341,336$2,827,637
X-11 Publicly traded securitiesStart of year $11,691,363$34,062,243
X-15 Other assetsStart of year $329,112$523,275
X-16 Total assetsStart of year $16,775,257$38,481,275
X-17 Accounts payable and accrued expensesStart of year $116,146$7,208
X-19 Deferred revenueStart of year $237,459$61,335
X-26 Total liabilitiesStart of year $358,801$68,543
X-32 Total net assets or fund balancesStart of year $16,416,456$38,412,732
X-33 Total liabilities and net assetsStart of year $16,775,257$38,481,275
Part XI · Reconciliation of net assets $38,412,732 net assets at year end
XI-1 Total revenue$24,629,665
XI-2 Total expenses$3,348,042
XI-3 Revenue less expenses$21,281,623
XI-4 Net assets at start of year$16,416,456
XI-5 Net unrealized gains (losses) on investments$714,653
XI-9 Other changes in net assets$0
XI-10 Net assets at end of year$38,412,732

Form 990 e-file (XML) FY2024 from the IRS · Classification, formation year and address from the IRS Business Master File

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