The Los Angeles Valley College Foundation
- Assets
- $8.8m
- Revenue
- $1.0m
- Investments
- $58.9k
- Employees
- 2
- Location
- Van Nuys, CA
- Founding
- 08/1974
- Data as of
- 06/2021
- EIN
- 23-7349231
Organization Overview
The Los Angeles Valley College Foundation is located in Van Nuys, CA. The organization was established in 1974. According to its NTEE Classification (B11) the organization is classified as: Single Organization Support, under the broad grouping of Education and related organizations. As of 06/2021, Los Angeles Valley College Foundation employed 2 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Los Angeles Valley College 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 06/2021, Los Angeles Valley College Foundation generated $1.0m in total revenue. This represents a relatively dramatic decline in revenue. Over the past 6 years, the organization has seen revenues fall by an average of (11.1%) each year. All expenses for the organization totaled $589.8k during the year ending 06/2021. As we would expect to see with falling revenues, expenses have declined by (12.2%) per year over the past 6 years. You can explore the organizations financials more deeply in the financial statements section below.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2021
Describe the Organization's Mission:
Part 3 - Line 1
PROMOTE THE EDUCATIONAL SKILLS OF STUDENTS THROUGH SCHOLARSHIPS AND GRANTS.
Describe the Organization's Program Activity:
Part 3 - Line 4a
PROVIDE SCHOLARSHIPS AND GRANTS TO STUDENTS AND STUDENT ORGANIZATIONS FOR EDUCATIONAL PURPOSES.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Raul Castillo Executive Director | Officer | 40 | $79,074 |
Araz Parseghian President | OfficerTrustee | 2 | $0 |
Imelda Padilla Vice President | OfficerTrustee | 2 | $0 |
Thomas Soule Treasurer | OfficerTrustee | 2 | $0 |
Julie Dixon-Silva Secretary | OfficerTrustee | 2 | $0 |
Pat Ballew Immediate Past President | OfficerTrustee | 2 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $183,726 |
| All other contributions, gifts, grants, and similar amounts not included above | $512,598 |
| Noncash contributions included in lines 1a–1f | $18,210 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $696,324 |
| Total Program Service Revenue | $0 |
| Investment income | $186,283 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $120,222 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $1,002,829 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $200,279 |
| Grants and other assistance to domestic individuals. | $156,461 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $106,070 |
| Compensation of current officers, directors, key employees. | $58,338 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $0 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $0 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $21,426 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $47,799 |
| Fees for services: Other | $44,937 |
| Advertising and promotion | $0 |
| Office expenses | $9,068 |
| 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 | $3,487 |
| All other expenses | $0 |
| Total functional expenses | $589,805 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $560,306 |
| Savings and temporary cash investments | $167,958 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $18,360 |
| 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 | $7,969,817 |
| Investments—other securities | $58,887 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $8,775,328 |
| Accounts payable and accrued expenses | $76,160 |
| 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 | $883,055 |
| Total liabilities | $959,215 |
| Net assets without donor restrictions | $1,004,183 |
| Net assets with donor restrictions | $6,811,930 |
| 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 | $8,775,328 |
Grants Awarded
Over the last fiscal year, The Los Angeles Valley College Foundation has awarded $599,318 in support to 2 organizations.
| Grant Recipient | Amount |
|---|---|
LAVC DEPTS & PROJECTS PURPOSE: EDUCATION | $562,218 |
LAVC PURPOSE: EDUCATION | $37,100 |
Grants Recieved
Over the last fiscal year, we have identified 4 grants that The Los Angeles Valley College Foundation has recieved totaling $72,945.
| Awarding Organization | Amount |
|---|---|
Good Plus Foundation Inc New York, NY PURPOSE: SEE PART IV | $54,665 |
Foundation For California Community Colleges Sacramento, CA PURPOSE: OSHER SCHOLARSHIP | $18,200 |
Bank Of America Charitable Foundation Inc Charlotte, NC PURPOSE: OPERATIONAL SUPPORT | $60 |
Bank Of America Charitable Foundation Inc Charlotte, NC PURPOSE: OPERATIONAL SUPPORT | $20 |
Endowment Analysis
| Beg. Balance | $4,960,392 |
| Earnings | $816,634 |
| Net Contributions | $195,695 |
| Ending Balance | $5,972,721 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
U C San Diego Foundation La Jolla, CA | $1,658,962,820 | $199,905,173 |
California State University Fresno Foundation Fresno, CA | $305,581,286 | $82,049,002 |
University Of Hawaii Foundation Honolulu, HI | $548,406,506 | $76,733,850 |
University Corporation At Monterey Bay Seaside, CA | $199,917,843 | $49,155,763 |
San Jose State University Research Foundation San Jose, CA | $57,091,451 | $53,661,013 |
University Of Nevada-Reno Foundation Reno, NV | $310,760,494 | $35,673,494 |
The U C Davis Foundation Davis, CA | $716,342,130 | $110,976,640 |
Southwestern Law School Los Angeles, CA | $126,801,745 | $54,692,632 |
Associated Students Ucla Los Angeles, CA | $54,580,827 | $39,327,069 |
Csu Fullerton Auxiliary Services Corporation Fullerton, CA | $104,352,109 | $45,637,535 |
New Schools Fund Oakland, CA | $55,397,321 | $41,218,694 |
Chico State Enterprises Chico, CA | $47,170,077 | $46,861,327 |