Website
Ratings & Metrics
Financial Documents
| Entity | Document Type | Tax ID |
|---|---|---|
| Hearing Health Foundation | Audited Financial Statements | 13-1882107 |
| Hearing Health Foundation | IRS Form 990 | 13-1882107 |
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Entity: Hearing Health Foundation Document Type: Audited Financial Statements Tax ID: 13-1882107 |
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Entity: Hearing Health Foundation Document Type: IRS Form 990 Tax ID: 13-1882107 |
Governance & Transparency
Top Salaries
| Name | Title | Compensation | |
|---|---|---|---|
| 1 | Timothy L. Higdon | President/CEO | $249,524 |
| 2 | Christopher Geissler | Director of Program & Research Support | $122,101 |
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1 Name: Timothy L. Higdon Title: President/CEO Compensation: $249,524 |
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2 Name: Christopher Geissler Title: Director of Program & Research Support Compensation: $122,101 |
Analysts' Notes
According to the Hearing Health Foundation audit of September 30, 2021 (Note 10, Paycheck Protection Program Loan): "During May 2020, the Foundation received a loan (the 'PPP Loan') from JP Morgan Chase Bank in the amount of $116,827 under the Paycheck Protection Program and a $6,000 advance under the Economic Injury Disaster Loans program ('EIDL Advance'), both established by the Coronavirus Aid, Relief and Economic Security Act. The EIDL Advance did not have to be repaid and recipients did not have to be approved for an EIDL Loan to receive this advance. The EIDL advance of $6,000 was utilized for approved expenditures and is included with other income on the [audited] statements of activities and changes in net assets for the period ended September 30, 2020. "All or a portion of the PPP Loan was eligible to be forgiven by the U.S. Small Business Administration ('SBA') and the lender upon application by the Foundation, provided that the Foundation used the loan proceeds for eligible purposes, including payment of payroll, benefits, rent, mortgage interest and utilities, during the 24 week period beginning on the date of funding of the loan (the 'covered period'). "The Foundation used the loan proceeds during 2021 solely for approved expenditures, including payment of payroll, consistent with the requirements of the PPP Loan for loan forgiveness. On January 27, 2021, the Foundation received notification that the PPP Loan was fully forgiven. The PPP Loan totaling $116,827 was recorded as a loan forgiveness under non-operating activities in the [audited] statement of activities and changes in net assets for the year ended September 30, 2021." |
According to the Hearing Health Foundation audit of September 30, 2021 (Note 12, Risks and Uncertainties): "In March 2020, the World Health Organization declared the outbreak of a novel coronavirus (COVID-19) as a pandemic... The COVID-19 outbreak has caused business disruptions through mandated and voluntary closings of businesses across the country for non-essential services. There is still considerable uncertainty about the duration of the pandemic and the extent to which COVID-19 may impact the Foundation's operations and financial condition, including the financial condition of the Foundation's contributors to continue their support of the Foundation's mission." |
According to the Hearing Health Foundation (HHF) tax filing for the fiscal year ended September 30, 2021, HHF reports re: Compensation, Supplemental Information (IRS Form 990, Schedule J, Part III): Regarding nonfixed payments to officers, directors, trustees, key employees and highest compensated employees (Schedule J, Part I, line 7): "During the year ended June 30, 2021 [sic], the executive committee of the board acting as a compensation committee, met and conducted a performance review for the President & CEO. Based on accomplishments during the year seeing the organization through the COVID-19 pandemic, a performance bonus was approved."
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