Peninsula College Fund
- Assets
- $7.0m
- Revenue
- $7.6m
- Investments
- $0.0
- Employees
- 16
- Location
- Milpitas, CA
- Founding
- 12/2009
- Data as of
- 06/2022
- EIN
- 26-4293269
Organization Overview
Peninsula College Fund is located in Milpitas, CA. The organization was established in 2009. According to its NTEE Classification (B82) the organization is classified as: Scholarships & Student Financial Aid, under the broad grouping of Education and related organizations. As of 06/2022, Peninsula College Fund employed 16 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Peninsula College Fund 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, Peninsula College Fund generated $7.6m in total revenue. This organization has experienced exceptional growth, as over the past 7 years, it has increased revenue by an average of 39.4% each year . All expenses for the organization totaled $3.1m during the year ending 06/2022. While expenses have increased by 26.0% 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.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2022
Describe the Organization's Mission:
Part 3 - Line 1
PCF ASSISTS LOW-INCOME, UNDER SERVED AND OFTEN OVER-LOOKED FIRST-GENERATION COLLEGE STUDENTS FROM THE MID-PENINSULA IN THEIR QUEST TO GRADUATE, AND ASSISTS THEM TO ACHIEVE THEIR EDUCATIONAL AND CAREER GOALS.
Describe the Organization's Program Activity:
Part 3 - Line 4a
SCHOLARSHIPS - PROVIDE COLLEGE SCHOLARSHIPS FOR TALENTED AND MOTIVATED LOW-INCOME, FIRST-GENERATION COLLEGE STUDENTS. THE AVERAGE SCHOLARSHIP IS 12,000 PER STUDENT (3,000 PER YEAR FOR 4 YEARS). SCHOLARSHIP FUNDS ARE USED TO PAY TUITION AND FEES, BOOKS, OR OTHER INCIDENTAL EXPENSES. MENTORING - PROVIDE TRAINED AND SKILLED ONE-TO-ONE ADULT MENTORS TO EACH SCHOLAR TO GIVE THE ADVICE, ROLE MODELING AND RELATIONSHIPS NECESSARY TO SUCCEED IN COLLEGE AND PREPARE FOR POST COLLEGE CAREERS. EACH MENTOR COMMITS TO MENTORING A SCHOLAR FROM FRESHMAN YEAR TO COLLEGE GRADUATION. AS THE FIRST IN THEIR FAMILY TO ATTEND COLLEGE, PCG SCHOLARS GAIN PARTICULAR VALUE FROM THE GUIDANCE THAT SUCCESSFUL MENTORS CAN PROVIDE. COLLEGE AND CAREER SUCCESS TRAINING - PROVIDE TARGETED AND INTENSIVE COLLEGE AND CAREER CUSSES WORKSHOPS AND INDIVIDUALIZED ASSISTANCE TO OUR SCHOLARS TO ENABLE THEM TO MAXIMIZE THEIR GROWTH DURING COLLEGE AND GRADUATE FROM COLLEGE PREPARED TO LAUNCH THEIR CAREERS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Christina Mireles Executive Di | Officer | 40 | $151,153 |
Eric Hartwig President | OfficerTrustee | 1 | $0 |
Karen Canty Secretary | OfficerTrustee | 1 | $0 |
Pat Clements Treasurer | OfficerTrustee | 1 | $0 |
Asha Guha Director | Trustee | 1 | $0 |
Charles Schmuck Founder | Trustee | 5 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $792,058 |
| Related organizations | $0 |
| Government grants | $154,230 |
| All other contributions, gifts, grants, and similar amounts not included above | $6,472,630 |
| Noncash contributions included in lines 1a–1f | $1,700,000 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $7,418,918 |
| Total Program Service Revenue | $0 |
| Investment income | $622 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | $126,372 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $7,638,756 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $989,116 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $151,153 |
| Compensation of current officers, directors, key employees. | $13,420 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $736,015 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $72,834 |
| Payroll taxes | $142,507 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $63,650 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $263,928 |
| Advertising and promotion | $0 |
| Office expenses | $26,657 |
| Information technology | $18,238 |
| Royalties | $0 |
| Occupancy | $10,042 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $375 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $18,191 |
| Insurance | $8,383 |
| All other expenses | -$16,405 |
| Total functional expenses | $3,102,096 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $3,833,495 |
| Savings and temporary cash investments | $288,518 |
| Pledges and grants receivable | $2,884,575 |
| 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 | $20,361 |
| Net Land, buildings, and equipment | $4,925 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $10,527 |
| Other assets | $0 |
| Total assets | $7,042,401 |
| Accounts payable and accrued expenses | $99,008 |
| Grants payable | $1,764,966 |
| 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 | $11,329 |
| Other liabilities | $0 |
| Total liabilities | $1,875,303 |
| Net assets without donor restrictions | $1,553,827 |
| Net assets with donor restrictions | $3,613,271 |
| 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 | $7,042,401 |