Overview
What is Hoya Foundation?
The Hoya Foundation is a nonprofit organization situated in Wheat Ridge, Colorado (80033). Its primary objective is to support small disadvantaged businesses, particularly those owned by minorities and women, in obtaining and executing contracts related to transportation projects and professional services. To achieve this goal, the foundation manages a federal grant from the US Department of Transportation and serves a five-state area, encompassing Colorado, Wyoming, Utah, Nebraska, and South Dakota. The Hoya Foundation's work involves outreach, collaboration with state agencies, and capacity-building coaching for small businesses. Additionally, they operate a Bonding Education Program to help these businesses secure necessary bonds for their projects. Beyond this, the Hoya Foundation is committed to inspiring young women to pursue careers in transportation and construction. With high-paying and sustainable jobs in these industries, the foundation believes that this career path can significantly contribute to a woman's economic stability throughout her lifetime. The Hoya Foundation is staffed by a team of two dedicated individuals.
Official website here: www.hoyafoundation.org
What are the reviews and ratings of this charity?
Charity Navigator Rating: 63%, Two-Star out of Four Star rating.
The Hoya Foundation has received a Two-Star rating, indicating that its overall performance is below average based on its accountability and financial practices. The charity primarily scores low due to a lack of independent board members and missing essential policies, such as a conflict of interest policy and a document retention and destruction policy. However, the foundation does display positive attributes, such as a low liabilities to assets ratio and a high program expense ratio, demonstrating efficient allocation of funds toward its programs.
Although the foundation lists its website on its tax form and has a whistleblower policy in place, the absence of independent board members raises concerns about governance. Additionally, while the minutes of board meetings are documented, the charity has not posted its tax forms on its website, which is a missed opportunity for transparency. These factors contribute to the concerns regarding the foundation's accountability practices.
Overall, while the Hoya Foundation shows strong program spending and has certain transparency measures in place, significant governance issues and policies missing from its operations prevent it from achieving a higher rating. Improved adherence to standards of accountability and governance could enhance its standing in the nonprofit sector.
This AI summary has been generated from information found on Charity Navigator.
Is Hoya Foundation legitimate?
Hoya Foundation is a legitimate nonprofit organization registered as a 501(c)(3) entity. Hoya Foundation submitted a form 990, which is a tax form used by tax-exempt organizations in the U.S., indicating its operational transparency and adherence to regulatory requirements. Donations to this organization are tax deductible.
Heare are some key statistics you may want to consider:
Executive Compensation: $76,440
Professional Fundraising Fees: $0
Other Salaries and Wages: $29,048
For more financial information, click here
Official website here: www.hoyafoundation.org
What is the mission statement of Hoya Foundation?
The Hoya Foundation's mission is multifaceted, aiming to support both small businesses, with a focus on minority and women-owned enterprises, in the transportation and construction sectors, enabling them to secure more opportunities in these fields. Simultaneously, the foundation seeks to inspire young girls to explore sustainable careers in transportation and construction, an industry that currently has a limited female workforce, with women accounting for only 8% of the construction workforce. By promoting these high-paying and long-term careers, the foundation aims to significantly influence a woman's economic equity throughout her lifetime.
Official website here: www.hoyafoundation.org
Who is the CEO of Hoya Foundation?
Unavailable
Official website here: www.hoyafoundation.org
What is the revenue of Hoya Foundation?
Hoya Foundation's revenue in 2023 was $480,684.
Official website here: www.hoyafoundation.org
Who are the executives of Hoya Foundation and what are their salaries?
The average compensation at Hoya Foundation during 2023 was $52,744. There are 2 employees at Hoya Foundation.
Here are 2 key members and their salaries:
- Compensation: $76,440
- Related: $0
- Other: $0
- Compensation: $5,421
- Related: $0
- Other: $0
Official website here: www.hoyafoundation.org
Where can I find the form 990 for Hoya Foundation?
Hoya Foundation's most recent form 990 was submitted in 2023 and can be accessed here.
Official website here: www.hoyafoundation.org
Learn more at the official website: www.hoyafoundation.org
Mission Statement of Hoya Foundation
The Hoya Foundation, named for its dual mission, is dedicated to aiding the development of small businesses, particularly those owned by minorities and women, in the sectors of transportation and construction. This objective is designed to enhance their capabilities to secure a larger share of projects in these industries. The second part of the mission focuses on empowering girls by introducing them to sustainable careers in the same sectors. Historically, minority and women-owned businesses have been allocated less than 12% of the work on public construction and transportation projects. Moreover, women constitute only 8% of the construction workforce. By promoting high-paying and long-term opportunities in construction, the Hoya Foundation aims to significantly impact a woman's financial equality throughout her lifetime.
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Impact
July, 2024
Hoya Foundation's impact is significant in empowering small businesses, particularly those owned by minorities and women, to excel in the transportation and construction sectors. By providing essential support and resources, the foundation helps these businesses develop the capacity to secure and perform on transportation projects, ultimately increasing their participation in a historically underrepresented industry.
Furthermore, Hoya Foundation plays a crucial role in encouraging girls to explore sustainable careers in transportation and construction, fields where women are significantly underrepresented. By promoting opportunities in these sectors, the foundation is working towards narrowing the gender gap in construction workforce participation and fostering economic equity for women over their lifetimes.
Through the management of federal grants and partnerships with various entities, including the US Department of Transportation, the Hoya Foundation extends its reach across a five-state area, impacting businesses and individuals in Colorado, Wyoming, Utah, Nebraska, and South Dakota. Overall, the foundation's work contributes to enhancing employment prospects, promoting diversity, and fostering long-term economic empowerment for communities and individuals in the transportation and construction industries.
This information is meant to be a general summary of Hoya Foundation. Please take the time to review official sources before making any decisions based upon the content provided here.
Financials
This financial information is from Propublica.
Other financial information:
This information is from the most recently submitted tax form from this organization, which was in 2023.
- Gross Receipts: $480,684
Assets and Liabilities:
- Total Assets: $275,767
- Total Liabilities: $8,730
- Net Assets: $267,037
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Organization Details
Founding Year
2013
Phone
(303) 800-3733Main Address
4800 Wadsworth Blvd 216, Wheat Ridge, CO, 80033
Website
www.hoyafoundation.orgNTEE Category
Code: J02 - Employment
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