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Top Rated

Hearing Health Foundation

CharityWatch report issued
October 2022

Top-Rated Charity
A
CharityWatch Grade
Our independent grade based
on a number of factors.
 
88%
Program Percentage
Amount spent on programs
relative to overhead.
 
$4
Cost to Raise $100
Amount spent to raise
$100 of contributions.

Contact Information

Hearing Health Foundation
575 Eighth Avenue
Suite 1201
New York, NY 10018-3011

Other Names

Deafness Research Foundation

Tax Status

501(c)3

Stated Mission

To prevent and cure hearing loss and tinnitus through groundbreaking research and to promote hearing health.

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Data based on Fiscal Year Ended 09/30/2021

Program Percentage: 88%

The percentage of Hearing Health Foundation's cash budget it spends on programs relative to overhead (fundraising, management, and general expenses).

$2,700,000

Calculated Total Expenses

(rounded)

 

Cost to Raise $100: $4

How many dollars Hearing Health Foundation spends on fundraising to raise each $100 of contributions.

$4,800,000

Calculated Total Contributions

(rounded)

Government Funding

0% to 24%

Percentage of cash revenue
coming from government sources

 

Financial Documents

Entity Document Type Tax ID
Hearing Health Foundation Audited Financial Statements 13-1882107
Hearing Health Foundation IRS Form 990 13-1882107
Entity: Hearing Health Foundation
Document Type: Audited Financial Statements
Tax ID: 13-1882107
Entity: Hearing Health Foundation
Document Type: IRS Form 990
Tax ID: 13-1882107

Governance & Transparency

CharityWatch evaluates certain criteria related to a charity's Governance and Transparency. Donors may want to consider a charity's willingness to be open and transparent with CharityWatch to be a good litmus test for determining its commitment to public accountability.
This charity is Top-Rated
What does it mean to be Top-Rated?
 
Hearing Health Foundation
meets governance benchmarks.
 
Hearing Health Foundation
meets transparency benchmarks.
Transparency
Provides Financial Information
Audit Accessibility
Governance: Policies
Reports regularly & consistently monitoring & enforcing compliance with a written Conflict of Interest Policy
Reports required, annual disclosure by officers, directors, and key staff of interests that could give rise to conflicts
Reports having a written Whistleblower Policy
Reports having a written Document Retention and Destruction Policy
Governance: Financials
Reports providing copy of tax form to all board members prior to filing it with IRS
Reports that financial statements were audited by an independent accountant
Governance: Board of Directors
Reports at least 5 voting board members
51% or more of voting board members reported as independent
Reports documenting minutes of board and board committee meetings
Privacy Policy
Privacy Policy No Sharing  

  Name Title Compensation
1 Timothy L. Higdon President/CEO $249,524
2 Christopher Geissler Director of Program & Research Support $122,101
1
Name: Timothy L. Higdon
Title: President/CEO
Compensation: $249,524
2
Name: Christopher Geissler
Title: Director of Program & Research Support
Compensation: $122,101

CharityWatch Analysts perform an in-depth analysis of charities' audited financial statements and IRS tax filings, and often review other documents such as state filings, annual reports, and fundraising contracts during their evaluations. Below are select notes that CharityWatch believes may be of interest to donors.

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."


HHF reports a "Bonus & incentive compensation" payment in the amount of $10,000 to Timothy L. Higdon, President & CEO, whose reported total compensation in calendar year 2020 is $249,524 (IRS Form 990, Schedule J, Part II).


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