Edward Charles Foundation
- Assets
- $22.2m
- Revenue
- $41.3m
- Investments
- $920.0k
- Employees
- 10
- Location
- Beverly Hills, CA
- Founding
- 10/2009
- Data as of
- 06/2022
- EIN
- 26-4245043
Organization Overview
Edward Charles Foundation is located in Beverly Hills, CA. The organization was established in 2009. According to its NTEE Classification (P99) the organization is classified as: Human Services N.E.C., under the broad grouping of Human Services and related organizations. As of 06/2022, Edward Charles Foundation employed 10 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Edward Charles 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 06/2022, Edward Charles Foundation generated $41.3m in total revenue. This organization has experienced exceptional growth, as over the past 7 years, it has increased revenue by an average of 36.6% each year . All expenses for the organization totaled $54.9m during the year ending 06/2022. While expenses have increased by 39.2% 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 2015, Edward Charles Foundation has awarded 428 individual grants totaling $66,094,684. 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
FISCAL SPONSORSHIP OF CHARITABLE INITIATIVES.
Describe the Organization's Program Activity:
Part 3 - Line 4a
HELP KITCHEN PROVIDES RELIEF TO THE DISTRESSED AND POOR BY PROVIDING FOOD AND OTHER ITEMS OF NOURISHMENT TO THOSE WHO DO NOT HAVE.
OUTSCHOOL.ORG - TO PROVIDE FREE CLASSES TO PUBLIC SCHOOL FAMILIES AFFECTED BY SCHOOL CLOSURES AS A RESUT OF CORONAVIRUS.
HEART OF DINNER COMBATS FOOD INSECURITY AND ISOLATION WITHIN NYC'S ELDERLY ASIAN AMERICAN COMMUNITY, BY DELIVERING CARE PACKAGES OF HOT LUNCHES AND FRESH PRODUC.
SERVED AS FISCAL SPONSOR FOR OTHER ORGANIZATIONS TO PERFORM CHARITABLE PURPOSES.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Kent Seton CEO | OfficerTrustee | 40 | $0 |
Kevin Grigorenko Cto | OfficerTrustee | 1 | $0 |
Andrew Altsule Secretary | OfficerTrustee | 1 | $0 |
James Bullard Treasurer | OfficerTrustee | 1 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
The Nasarati Experience Inc Event Expense | 6/29/22 | $520,690 |
Seton & Associates Plc Ceo Services | 6/29/22 | $499,500 |
Seton & Associates Plc Licensing Fee | 6/29/22 | $215,720 |
The Artemis Agency Llc Consulting | 6/29/22 | $159,484 |
Offor (Offor Walker Group Llc) Consulting | 6/29/22 | $171,100 |
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 | $40,165,433 |
| Noncash contributions included in lines 1a–1f | $2,073,076 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $40,165,433 |
| Total Program Service Revenue | $1,030,251 |
| Investment income | $95,850 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $42,348 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $41,333,882 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $37,070,123 |
| Grants and other assistance to domestic individuals. | $200,183 |
| Grants and other assistance to Foreign Orgs/Individuals | $267,189 |
| 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 | $1,164,603 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $102,965 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $96,780 |
| Fees for services: Accounting | $1,109,048 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $4,007,939 |
| Advertising and promotion | $78,587 |
| Office expenses | $44,901 |
| Information technology | $460,752 |
| Royalties | $0 |
| Occupancy | $201,879 |
| 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 | $3,352 |
| Insurance | $112,742 |
| All other expenses | $8,988 |
| Total functional expenses | $54,883,321 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $19,143,200 |
| Savings and temporary cash investments | $222,214 |
| Pledges and grants receivable | $770,526 |
| 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 | $2,950 |
| Net Land, buildings, and equipment | $5,698 |
| Investments—publicly traded securities | $1,096,312 |
| Investments—other securities | $920,000 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $22,160,900 |
| Accounts payable and accrued expenses | $813,511 |
| Grants payable | $178,974 |
| 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 | $38,000 |
| Other liabilities | $9,844 |
| Total liabilities | $1,040,329 |
| Net assets without donor restrictions | $251,928 |
| Net assets with donor restrictions | $20,868,643 |
| 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 | $22,160,900 |
Grants Awarded
Over the last fiscal year, Edward Charles Foundation has awarded $36,095,031 in support to 88 organizations.
| Grant Recipient | Amount |
|---|---|
Los Angeles, CA PURPOSE: CHARITABLE GIFT | $19,561,510 |
STARLINK INITIATIVE LTD PURPOSE: CHARITABLE GIFT | $6,082,590 |
Palo Alto, CA PURPOSE: CHARITABLE GIFT | $2,338,186 |
San Francisco, CA PURPOSE: CHARITABLE GIFT | $1,735,171 |
West Hollywood, CA PURPOSE: CHARITABLE GIFT | $1,208,972 |
THRIVE MARKET INC PURPOSE: CHARITABLE GIFT | $933,974 |
Grants Recieved
Over the last fiscal year, we have identified 56 grants that Edward Charles Foundation has recieved totaling $30,463,339.
| Awarding Organization | Amount |
|---|---|
Dechomai Foundation Inc Jacksonville, FL PURPOSE: unrestricted | $19,327,009 |
The Seminar Network Inc Arlington, VA PURPOSE: General Operating Support | $1,433,000 |
Schwab Charitable Fund San Francisco, CA PURPOSE: HUMAN SERVICES | $1,426,400 |
The Miami Foundation Inc Miami, FL PURPOSE: PROGRAM SUPPORT | $1,241,734 |
Charles Koch Institute Arlington, VA PURPOSE: EDUCATION | $1,150,000 |
Wend Ii Inc Bentonville, AR PURPOSE: SPECIAL PROJECTS COVID-19 RELIEF EFFORTS | $1,075,000 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Edward Charles Foundation Beverly Hills, CA | $22,160,900 | $41,333,882 |
Asu Research Enterprise Tempe, AZ | $25,129,055 | $57,628,345 |
Sheryl Sandberg & Dave Goldberg Family Foundation Palo Alto, CA | $7,237,479 | $10,073,242 |
Bi-Bett Walnut Creek, CA | $8,734,847 | $8,886,262 |
California Foundation For Independent Living Centers Sacramento, CA | $3,702,594 | $8,030,349 |
Community Access Network Non Profit Corporation Corona, CA | $7,199,298 | $6,228,219 |
Elder Care Alliance Alameda, CA | $36,709,405 | $4,507,097 |
Los Angeles Police Foundation Los Angeles, CA | $14,536,566 | $5,939,965 |
Our Little Helpers Inc Los Angeles, CA | $244,623 | $3,613,015 |
Arsolas Distribution Center And Community Services Oakland, CA | $0 | $4,046,289 |
Clatsop Community Action Astoria, OR | $4,439,328 | $4,346,082 |
Varsity Team Inc San Diego, CA | $1,446,243 | $4,030,641 |