Hemp Innovations Foundation FY2023 filing

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The organization's primary purpose is to produce scientific and educational progress around the production and manufacturing of hemp and hemp products

501(c)(3) charity; gifts are tax-deductible.
Mission: Form 990 Part I, line 1 · Status: IRS Pub. 78

Before you give

FY2023 · 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
1 of 2
filings with a surplus
Average surplus $7K a year · 49% of revenue · last 2 filings
Worth a look: a surplus in 1 of the last 2 filings.
Pt I · Ln 19 · 2 filings
Spent on programs
0%
of spending
Concern: 0% of spending went to programs; under 50%.
Pt IX · Ln 25 · col B
1005 mo
of spending, in cash
Looks good: 1005.1 months of spending in cash; 3 or more.
Pt X · Ln 1–2 · Pt I · Ln 18
Named funders
1
named funder · $34
Fine: 1 funder names it on their filings; under 3.
Funders’ Sch. I, 990-PF
Liabilities
$0
0% 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
$36
-100% vs prior year
Spent
$247
To programs
0%
Net assets
$21K
By yearFY2021–FY2024
Revenue
$36
FY2023▼ -100%
Tap a bar for its year
Revenue by fiscal year
FY2021$10K
FY2022$30K
FY2023$36
FY2024$2K
Expenses
$247
FY2023▼ -98%
Tap a bar for its year
Expenses by fiscal year
FY2021Not on file
FY2022$15K
FY2023$247
FY2024Not on file
Net assets
$21K
FY2023▼ -1%
Tap a bar for its year
Net assets by fiscal year
FY2021$6K
FY2022$21K
FY2023$21K
FY2024$3K

From the FY2023 Form 990 · see the original

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You’re viewing the FY2023 filing — not the latest on file. See the latest (FY2024) →

Is it real?

Yes. Never revoked by the IRS. Latest filing on record: FY2024. IRS ruling in Nov 2021.

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

Where the money goes

What each dollar paid for.

Management & general 100% · $247

Form 990 Part IX, line 25. 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.

Part VII, Section A · reportable compensation
Executive Director
$0Pt VII · Sec A
Treasurer
$0Pt VII · Sec A
$0Pt VII · Sec A
Secretary
$0Pt VII · Sec A
See Hemp Innovations Foundation executive salaries →

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

Advances scientific and educational progress in hemp production and manufacturing.

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2 programs · $15K · in their own filed words · FY2022
01

Hemp Innovations Foundation a 501(C)3 non-profit has funded a research project called Hemp Recycles. This research will pursue recyclability testing of hemp fibers used for paper making. The goal is to collect data that will determine potential long-term environmental impacts of using hemp-based paper rather than relying on wood fiber…

$15Kprogram expense
02

The organization just started in 2021 and had no specific Program Service accomplishments outside of the operation beginning of its work

Pt IX · col B

Funders

Who pays for it.

From grant filings on record. Receipts are incomplete: individual donors are never listed.

Grants

Schedule I · received and paid
Grants received · FY2023
Total grants receivedfrom 1 funder$34
Grants paid · 1 grant · $15K · 2022–2022
Unitemized GrantFY2022$15,000

By the numbers

The FY2023 990, line by line.

1The main four
Money inPt VIII
$36
Ln 12
Gifts and grantsLn 1h$36
Money outPt IX
$247
Ln 25
Managementcol C$247
Owns and owesPt X
$21K
net assets · Ln 32
Cash and savingsLn 1–2$21K
Total assetsLn 16$21K
LiabilitiesLn 26$0
PeoplePt VI, VII
4
listed · VII A
PaidVII A0
Voting boardVI 1a3
IndependentVI 1b3
2In more detail
Revenue in detailPt VIII
Gifts and grantsLn 1h$36
Government grantsLn 1e$0
Noncash giftsLn 1g$0
Fundraising eventsLn 1c$0
Total revenueLn 12$36
Assets in detailPt X, end of year
CashLn 1$21K
Cash and savings togetherLn 1–2$21K
Total assetsLn 16$21K
LiabilitiesLn 26$0
Net assetsLn 32$21K
OperationsPt I, VI
EmployeesI 50
VolunteersI 64
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 FY23End FY23
Cash and savingsLn 1–2$21K$21K
Total assetsLn 16$21K$21K
LiabilitiesLn 26$0$0
Net assetsLn 32$21K$21K
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Office expensesLn 13$233$233
TravelLn 17$14$14
Total functional expensesLn 25$247$0$247$0

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2024 LatestFiled with the IRS Apr 14, 2025 $2K$3K 990 PDF
FY2023 ViewingFiled with the IRS May 14, 2024 $36$247−$211$21K 990 PDF
FY2022Filed with the IRS May 14, 2023 $30K$15K$15K$21K 990 PDF
FY2021Filed with the IRS May 16, 2022 $10K$6K 990 PDF

Schedules filed Part IV

III · Programs R · Related orgs G · Fundraising L · Interested persons I · Grants A · Public support O · Explanations
See the full FY2023 990 (6 parts)
Part I · Summary $36 revenue, 12 lines filed
I-8 Contributions and grantsPrior year $30,050$36
I-9 Program service revenuePrior year $0$0
I-10 Investment incomePrior year $0$0
I-11 Other revenuePrior year $0$0
I-12 Total revenuePrior year $30,050$36
I-13 Grants and similar amounts paidPrior year $15,000$0
I-14 Benefits paid to membersPrior year $0$0
I-15 Salaries and benefitsPrior year $0$0
I-16a Professional fundraising feesPrior year $0$0
I-17 Other expensesPrior year $107$247
I-18 Total expensesPrior year $15,107$247
I-19 Revenue less expensesPrior year $14,943−$211
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 $36 across 9 lines filed
VIII-1a Federated campaigns$0
VIII-1b Membership dues$0
VIII-1c Fundraising events$0
VIII-1d Related organizations$0
VIII-1e Government grants$0
VIII-1f All other contributions, gifts and grants$36
VIII-1g Noncash contributions (included above)$0
VIII-1h Total contributions, gifts and grants$36
VIII-12 Total revenueRelated to mission $0 · Unrelated business $0 · Excluded from tax $0$36
Part IX · Statement of functional expenses $247 across 2 lines filed
IX-13 Office expensesManagement $233$233
IX-17 TravelManagement $14$14
IX-25 Total functional expensesPrograms $0 · Management $247 · Fundraising $0$247
Part X · Balance sheet $20,689 assets, 12 lines filed
X-1 Cash, non-interest-bearingStart of year $20,900$20,689
X-16 Total assetsStart of year $20,900$20,689
X-17 Accounts payable and accrued expensesStart of year $0$0
X-18 Grants payableStart of year $0$0
X-19 Deferred revenueStart of year $0$0
X-20 Tax-exempt bond liabilitiesStart of year $0$0
X-24 Unsecured notes and loans payableStart of year $0$0
X-26 Total liabilitiesStart of year $0$0
X-27 Net assets without donor restrictionsStart of year $20,900$20,689
X-28 Net assets with donor restrictionsStart of year $0$0
X-32 Total net assets or fund balancesStart of year $20,900$20,689
X-33 Total liabilities and net assetsStart of year $20,900$20,689
Part XI · Reconciliation of net assets $20,689 net assets at year end
XI-1 Total revenue$36
XI-2 Total expenses$247
XI-3 Revenue less expenses−$211
XI-4 Net assets at start of year$20,900
XI-5 Net unrealized gains (losses) on investments$0
XI-6 Donated services and use of facilities$0
XI-7 Investment expenses$0
XI-8 Prior period adjustments$0
XI-9 Other changes in net assets$0
XI-10 Net assets at end of year$20,689

Form 990 e-file (XML) FY2023 from the IRS · Classification, formation year and address from the IRS Business Master File

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