Discovery Land Company Foundation
- Assets
- $14.7m
- Revenue
- $2.8m
- Investments
- $0.0
- Employees
- 1
- Location
- Beverly Hills, CA
- Founding
- 03/2007
- Data as of
- 12/2022
- EIN
- 20-4420241
Organization Overview
Discovery Land Company Foundation is located in Beverly Hills, CA. The organization was established in 2007. According to its NTEE Classification (T30) the organization is classified as: Public Foundations, under the broad grouping of Philanthropy, Voluntarism & Grantmaking Foundations and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Discovery Land Company Foundation is a 501(c)(3) and as such, is described as a "Charitable or Religous organization or a private foundation" by the IRS.
For the year ending 12/2022, Discovery Land Company Foundation generated $2.8m in total revenue. This organization has experienced exceptional growth, as over the past 7 years, it has increased revenue by an average of 10.9% each year . All expenses for the organization totaled $3.0m during the year ending 12/2022. While expenses have increased by 12.5% per year over the past 7 years. They've been increasing with an increasing level of total revenue. You can explore the organizations financials more deeply in the financial statements section below.
Since 2016, Discovery Land Company Foundation has awarded 113 individual grants totaling $7,397,535. If you would like to learn more about the grant giving history of this organization, scroll down to the grant profile section of this page.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2022
Describe the Organization's Mission:
Part 3 - Line 1
TO STRENGTHEN NON-PROFIT AND CHARITABLE PROGRAMS THAT SERVE CHILDREN AND FAMILIES.
Describe the Organization's Program Activity:
Part 3 - Line 4a
ABACO RELIEF PROGRAMFOLLOWING HURRICANE DORIAN IN 2019, THE ABACO RELIEF PROGRAM PROVIDED EMERGENCY ASSISTANCE TO THE COMMUNITY OF ABACO, BAHAMAS. ABACO RELIEF SUPPORTED EVACUATIONS, HOUSING, MEALS, SUPPLIES, TRANSPORTATION, BUILDING MATERIALS, AND MORE IMMEDIATE PROVISIONS. THIS SUPPORT WAS ONGOING THROUGHOUT 2022. WITH THE HELP OF LOCAL LEADERS, RESIDENTS, AND OTHER ORGANIZATIONS, DLCF HAS COMPLETED THE RECONSTRUCTION OF THREE SCHOOLS IN ABACO, ALL BUILT TO STRONGER CODES FOR USE AS STORM SHELTERS. TWO OF THE SCHOOLS USUALLY TEACH 1000 STUDENTS, AND ONE SCHOOL IS FOR CHILDREN WITH SPECIAL NEEDS, ASSISTING AROUND 100 CHILDREN ANNUALLY. DLCF ALSO PROVIDED HOUSING REPAIRS AND RECONSTRUCTION FOR MANY RESIDENTS IN ABACO, INCLUDING MEDICAL STAFF AT THE HOSPITAL IN MARSH HARBOUR. THE HOME REPAIRS AND THE PROCESS AND PREPARATION FOR BUILDING A NEW CLINIC CONTINUED THROUGH 2020, 2021, AND 2022. THE DONATED NEW PUBLIC CLINIC IS DUE FOR COMPLETION IN 2023.
THE DISCOVERY LAND COMPANY FOUNDATION HAS THREE MAIN ACTIVITIES: (1) FUND AND HELP CREATE INNOVATIVE HIGH-QUALITY FOSTER CARE PROGRAMS FOR CHILDREN UTILIZING RESIDENTIAL FACILITIES. (2) CONTRIBUTE TO CHARITABLE, NON-PROFIT ORGANIZATIONS WHO FOCUS ON THE URGENT HOUSING, EDUCATION, AND MEDICAL NEEDS OF FAMILIES IN LOCAL COMMUNITIES AROUND DISCOVERY LAND COMPANY'S PROJECTS. (3) CONNECT THE FOUNDATION'S GRANT RECIPIENTS WITH ADDITIONAL RESOURCES TO FURTHER THEIR GROWTH AND SUCCESS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Christy Nichols Executive Director/secretary | OfficerTrustee | 40 | $229,390 |
Michael Meldman President | OfficerTrustee | 2 | $0 |
Hunter Scott Meldman Treasurer | OfficerTrustee | 5 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Farella Braun & Martel Llp Legal Services | 12/30/20 | $169,344 |
Armanino Accounting & Tax | 12/30/20 | $127,438 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $2,055,797 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $1,041,004 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $3,096,801 |
| Total Program Service Revenue | $0 |
| Investment income | $105,522 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | -$429,841 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $2,772,482 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $1,920,281 |
| Grants and other assistance to domestic individuals. | $0 |
| Grants and other assistance to Foreign Orgs/Individuals | $400,000 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $229,390 |
| Compensation of current officers, directors, key employees. | $45,878 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $0 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $12,440 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $72,331 |
| Fees for services: Accounting | $57,601 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $3,227 |
| Advertising and promotion | $0 |
| Office expenses | $40,936 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $2,564 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $17,157 |
| All other expenses | $263,207 |
| Total functional expenses | $3,019,134 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $7,297,298 |
| Savings and temporary cash investments | $662,487 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $0 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $32,931 |
| Net Land, buildings, and equipment | $0 |
| Investments—publicly traded securities | $6,698,314 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $14,691,030 |
| Accounts payable and accrued expenses | $21,920 |
| Grants payable | $0 |
| Deferred revenue | $300,000 |
| Tax-exempt bond liabilities | $0 |
| Escrow or custodial account liability | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $0 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $0 |
| Total liabilities | $321,920 |
| Net assets without donor restrictions | $3,630,549 |
| Net assets with donor restrictions | $10,738,561 |
| Capital stock or trust principal, or current funds | $0 |
| Paid-in or capital surplus, or land, building, or equipment fund | $0 |
| Retained earnings, endowment, accumulated income, or other funds | $0 |
| Total liabilities and net assets/fund balances | $14,691,030 |
Grants Awarded
Over the last fiscal year, Discovery Land Company Foundation has awarded $1,911,781 in support to 10 organizations.
| Grant Recipient | Amount |
|---|---|
BOYS & GIRLS CLUB OF MARTIN COUNTY INC PURPOSE: TO SUPPORT EDUCATION | $7,500 |
BOYS AND GIRLS CLUBS OF AMERICA PURPOSE: YOUTH ACTIVITIES | $95,920 |
BOYS AND GIRLS CLUB OF HENDERSON COUNTY PURPOSE: DONATION TO THE LOAGAN FUND | $25,000 |
CHILDRENS HOSPITAL LOS ANGELES PURPOSE: CHILDREN PROGRAM | $25,000 |
CHILDREN'S VILLAGE INC PURPOSE: CHILDRENS PROGRAM AND SUPPORT | $93,000 |
DIRECT RELIEF PURPOSE: ABACO RELIEF-SUPPORT FOR GUANA CAY CLINIC | $703,361 |