Sunwest Bank Charitable Foundation
- Assets
- $3.4m
- Revenue
- $674.2k
- Investments
- $1.0m
- Employees
- 0
- Location
- Irvine, CA
- Founding
- 09/2010
- Data as of
- 12/2022
- EIN
- 27-1607730
Organization Overview
Sunwest Bank Charitable Foundation is located in Irvine, CA. The organization was established in 2010. According to its NTEE Classification (T21) the organization is classified as: Corporate 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. Sunwest Bank Charitable 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, Sunwest Bank Charitable Foundation generated $674.2k 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 (13.5%) each year. All expenses for the organization totaled $361.6k during the year ending 12/2022. As we would expect to see with falling revenues, expenses have declined by (6.3%) per year over the past 6 years. You can explore the organizations financials more deeply in the financial statements section below.
Since 2017, Sunwest Bank Charitable Foundation has awarded 141 individual grants totaling $2,137,118. 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.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Eric Hovde Chairman | 1 | $0 | |
Carson Lappetito Trustee | 1 | $0 | |
Nicole Bice Executive Director | 1 | $18,000 | |
Kent Smith Trustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $500,000 |
| Interest on Savings | $10,159 |
| Dividends & Interest | $29,049 |
| Net Rental Income | $0 |
| Net Gain on Sale of Assets | $134,991 |
| Capital Gain Net Income | $134,991 |
| Net ST Capital Gain | $0 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $0 |
| Other Income | $0 |
| Total Revenue | $674,199 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $18,000 |
| Other employee salaries and wages | $0 |
| Pension plans, employee benefits | $0 |
| Interest | $6,593 |
| Taxes | $0 |
| Depreciation | $0 |
| Occupancy | $0 |
| Travel, conferences, and meetings | $0 |
| Printing and publications | $0 |
| Other expenses | $26,400 |
| Total operating and administrative expenses | $86,725 |
| Contributions, gifts, grants paid | $274,923 |
| Total expenses and disbursements | $361,648 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $2,316,104 |
| Net Accounts receivable | $0 |
| Net Pledges Receivable | $0 |
| Grants receivable | $0 |
| Receivables from Officers, Directors, or Controlling Persons | $0 |
| Net other notes and loans receivable | $0 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $9,885 |
| Net Investments - land, buildings, equipment | $0 |
| Investments—mortgage loans | $0 |
| Investments—other | $1,032,995 |
| Net Land, buildings, and equipment | $0 |
| Other assets | $0 |
| Total assets | $3,358,984 |
| Accounts payable and accrued expenses | $0 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Mortgages and other notes payable | $0 |
| Other liabilities | $0 |
| Total liabilities | $0 |
Grants Awarded
Over the last fiscal year, Sunwest Bank Charitable Foundation has awarded $274,923 in support to 14 organizations.
| Grant Recipient | Amount |
|---|---|
COLLETTE'S CHILDREN'S HOME PURPOSE: COMMUNITY SERVICES-HOMELESS SHELTER | $25,000 |
CHALLENGING HEIGHTS PURPOSE: COMMUNITY SERVICES | $77,365 |
FRISTERS PURPOSE: COMMUNITY SERVICES-LOW INCOME DADS AND TEEN PARENTS | $15,000 |
LEARNING LABS INC PURPOSE: COMMUNITY SERVICES-SHELTER-FAMILY LITERACY | $10,000 |
LOS ANGELES BOYS & GIRLS CLUB PURPOSE: COMMUNITY SERVICES | $4,250 |
NEW PATHWAYS FOR YOUTH PURPOSE: COMMUNITY SERVICES-YOUTH ASSISTANCE IN SHELTERS | $11,008 |