Laguna Beach Community Foundation
- Assets
- $1.1m
- Revenue
- $779.0k
- Investments
- $0.0
- Employees
- 0
- Location
- Laguna Beach, CA
- Founding
- 07/2006
- Data as of
- 12/2023
- EIN
- 20-6390272
Organization Overview
Laguna Beach Community Foundation is located in Laguna Beach, CA. The organization was established in 2006. According to its NTEE Classification (T31) the organization is classified as: Community 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. Laguna Beach Community 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 12/2023, Laguna Beach Community Foundation generated $779.0k in total revenue. This represents a relatively dramatic decline in revenue. Over the past 9 years, the organization has seen revenues fall by an average of (11.6%) each year. All expenses for the organization totaled $624.9k during the year ending 12/2023. As we would expect to see with falling revenues, expenses have declined by (5.1%) per year over the past 9 years. You can explore the organizations financials more deeply in the financial statements section below.
Since 2015, Laguna Beach Community Foundation has awarded 176 individual grants totaling $14,948,019. 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
2023
Describe the Organization's Mission:
Part 3 - Line 1
THE LAGUNA BEACH COMMUNITY FOUNDATION STRENGTHENS OUR COMMUNITY BY ENCOURAGING PHILANTHROPY. WE PROVIDE EXPERTISE AND RESOURCES TO ASSIST LOCAL CHARITIES, CONNECT DONOR PASSIONS WITH NONPROFIT NEEDS, AND WORK WITH LOCAL PROFESSIONAL ADVISORS IN ASSISTING THEIR CLIENTS IN GIVING NOW AND BEYOND THEIR LIFETIMES WITH A LEGACY GIFT.
Describe the Organization's Program Activity:
Part 3 - Line 4a
TERRY SMITH TRUST FUND & WAYNE L PETERSON TRUST FUND:IN 2021, THE FOUNDATION WAS THE RECIPIENT OF A LARGE TESTAMENTARY GIFT. THE DONORS LEFT INSTRUCTIONS FOR THE FOUNDATION AS TO HOW TO DISTRIBUTE THE FUNDS TO CERTAIN 501(C)(3) ORGANIZATIONS.IN 2023, FOLLOWING THE INSTRUCTIONS LEFT BY THE DONORS, WE DISTRIBUTED $611,145 FROM THE TERRY SMITH TRUST AND THE WAYNE L PETERSON TRUST FUNDS TO VARIOUS ORGANIZATIONS, THE HIGHEST CONTRIBUTIONS GOING TOWARDS NEIGHBORHOOD CONGREGATIONAL CHURCH($125,000), BOYS AND GIRLS CLUB ($118,072), SCHOOLPOWER($100,000), AND LAGUNA CANYON FOUNDATION ($100,000).
SOUTH LAGUNA COMMUNITY GARDEN:THE SOUTH LAGUNA COMMUNITY GARDEN PARK, ESTABLISHED IN 2009, IS A COMMUNITY SPACE IN LAGUNA BEACH, OFFERING A VENUE FOR GARDENING, EDUCATIONAL PROGRAMS, AND EVENTS. EFFORTS TO PURCHASE THE PROPERTY FOR PERMANENT PRESERVATION HAVE BEEN ONGOING, WITH THE SOUTH LAGUNA CIVIC ASSOCIATION, SOUTH LAGUNA COMMUNITY GARDEN PARK, AND LAGUNA BEACH COMMUNITY FOUNDATION WORKING TOGETHER TO RAISE FUNDS.THE FOUNDATION REMAINS COMMITTED TO SECURING THE PROPERTY OR FINDING AN ALTERNATIVE LOCATION, AND ALL DONATED FUNDS ARE SAFELY HELD BY THE LAGUNA BEACH COMMUNITY FOUNDATION IN SECURE, INCOME-GENERATING ACCOUNTS FOR FUTURE PURCHASE OPPORTUNITIES.
TO ESTABLISH AND MAINTAIN CHARITABLE FUNDS TO PROMOTE PHILANTHROPY.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Name Not Listed Trustee | 1 | $0 | |
Name Not Listed Trustee | 1 | $0 | |
Name Not Listed Trustee | 1 | $0 | |
Tom Davis Chairman Of The Board | Officer | 10 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $778,664 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $778,664 |
| Total Program Service Revenue | $384 |
| Investment income | $0 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $779,048 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $613,955 |
| Grants and other assistance to domestic individuals. | $0 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $0 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $50 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $1,674 |
| Fees for services: Accounting | $7,990 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $1,209 |
| Advertising and promotion | $0 |
| Office expenses | $0 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $0 |
| 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 | $0 |
| All other expenses | $0 |
| Total functional expenses | $624,878 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $1,065,647 |
| Savings and temporary cash investments | $0 |
| 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 | $0 |
| Net Land, buildings, and equipment | $0 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $1,065,647 |
| Accounts payable and accrued expenses | $0 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| 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 | $0 |
| Net assets without donor restrictions | $1,065,647 |
| Net assets with donor restrictions | $0 |
| 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 | $1,065,647 |
Grants Awarded
Over the last fiscal year, Laguna Beach Community Foundation has awarded $612,110 in support to 10 organizations.
| Grant Recipient | Amount |
|---|---|
BOYS AND GIRLS CLUB PURPOSE: General Fund | $119,840 |
LAGUNA COLLEGE OF ART AND DESIGN PURPOSE: General Fund | $11,229 |
CHHAHARI PURPOSE: General Fund | $50,000 |
LB ART MUSEUM PURPOSE: General Fund | $15,000 |
LB COMMUNITY CLINIC PURPOSE: General Fund | $50,000 |
LAGUNA CANYON FOUNDATION PURPOSE: General Fund | $100,000 |