Michelson 20mm Foundation Inc
- Assets
- $4.4m
- Revenue
- $3.2m
- Investments
- $0.0
- Employees
- 0
- Location
- Los Angeles, CA
- Founding
- 09/2012
- Data as of
- 12/2022
- EIN
- 27-2898736
Organization Overview
Michelson 20mm Foundation Inc is located in Los Angeles, CA. The organization was established in 2012. According to its NTEE Classification (T23) the organization is classified as: Private Operating 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. Michelson 20mm Foundation Inc 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, Michelson 20mm Foundation Inc generated $3.2m in total revenue. This organization has experienced exceptional growth, as over the past 7 years, it has increased revenue by an average of 23.2% each year . All expenses for the organization totaled $2.5m during the year ending 12/2022. While expenses have increased by 19.5% 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 2014, Michelson 20mm Foundation Inc has awarded 142 individual grants totaling $2,794,437. 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
990PF
Mission & Program ActivityExcerpts From the 990PF Filing
TAX YEAR
2022
Describe the Organization's Program Activity:
Part 3 - Line 4a
THIS PROGRAM SUPPORTS DIGITAL EQUITY EFFORTS AIMED AT CLOSING THE DIGITAL DIVIDE, PARTICULARLY AMONGST UNDERSERVED AND HISTORICALLY MARGINALIZED COMMUNITIES.
THIS PROGRAM SUPPORTS COMPANIES WORKING ON HIGHER LEARNING TECHNOLOGIES: PROGRAMS, PRODUCTS, AND/OR SERVICES THAT IMPROVE EQUITY, ACCESS, AND EFFICACY IN POSTSECONDARY ED.
SUPPORTS ORGANIZATIONS AND INITIATIVES THAT SEEK TO INCREASE AWARENESS AND DEMOCRATIZE ACCESS TO INTELLECTUAL PROPERTY EDUCATION ACROSS U.S. INSTITUTIONS OF HIGHER ED.
THIS PROGRAM SUPPORTS INCARCERATED, RETURNING, AND SYSTEMS IMPACTED STUDENTS AS THEY ACHIEVE THEIR FULLEST ACADEMIC POTENTIAL.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Gary K Michelson M D CEO | 1 | $0 | |
Phil Kim President | 15 | $0 | |
David Cohen CFO | 1 | $0 | |
Mayra Lombera COO | 40 | $163,499 | |
Miguel Leon Strategic Director | 40 | $106,047 | |
Ryan Erickson-Kulas Programs Director | 40 | $98,261 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Entangled Solutions Llc | 12/30/18 | $66,457 |
Center For Ip Understanding | 12/30/18 | $51,139 |
Hanna Ruth Levinson Lahayim Coop Llc | 12/30/18 | $52,680 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $2,815,000 |
| Interest on Savings | $26 |
| Dividends & Interest | $1,619 |
| Net Rental Income | $0 |
| Net Gain on Sale of Assets | $396,621 |
| Capital Gain Net Income | $396,621 |
| Net ST Capital Gain | $0 |
| Income Modifications | $705,854 |
| Profit on Inventory Sales | $0 |
| Other Income | $15,325 |
| Total Revenue | $3,228,591 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $0 |
| Other employee salaries and wages | $945,991 |
| Pension plans, employee benefits | $154,961 |
| Interest | $0 |
| Taxes | $200 |
| Depreciation | $703 |
| Occupancy | $98,970 |
| Travel, conferences, and meetings | $75,628 |
| Printing and publications | $0 |
| Other expenses | $139,168 |
| Total operating and administrative expenses | $1,513,830 |
| Contributions, gifts, grants paid | $982,665 |
| Total expenses and disbursements | $2,496,495 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $1,291,576 |
| Net Accounts receivable | $3,169 |
| 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 | $22,270 |
| Net Investments - land, buildings, equipment | $0 |
| Investments—mortgage loans | $0 |
| Investments—other | $0 |
| Net Land, buildings, and equipment | $0 |
| Other assets | $3,057,641 |
| Total assets | $4,374,656 |
| Accounts payable and accrued expenses | $301,712 |
| Grants payable | $46,500 |
| Deferred revenue | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Mortgages and other notes payable | $0 |
| Other liabilities | $8,521 |
| Total liabilities | $356,733 |
Grants Awarded
Over the last fiscal year, Michelson 20mm Foundation Inc has awarded $982,665 in support to 49 organizations.
| Grant Recipient | Amount |
|---|---|
CALIFORNIA COMMUNITY FOUNDATION PURPOSE: EDUCATION ACCESS & AFFORDABILITY | $4,000 |
THE RAND CORPORATION PURPOSE: RESOURCES FOR PEOPLE IMPACTED BY MASS INCARCERATION | $25,000 |
THE ACADEMIC SENATE FOR CA COMMUNITY COLLEGES PURPOSE: EDUCATION ACCESS & AFFORDABILITY | $3,000 |
COMMUNITY PARTNERS PURPOSE: RESOURCES FOR PEOPLE IMPACTED BY MASS INCARCERATION COMMUNITY PROJECTS FOR PUBLIC GOOD EDUCATION ACCESS & AFFORDABILITY INTELLECTUAL PROPERTY EDUCATION/SUPPORT | $127,500 |
CREATIVE COMMONS CORPORATION PURPOSE: EDUCATION ACCESS & AFFORDABILITY | $27,500 |
NATIONAL ASSOCIATION FOR COMMUNITY COLLEGE ENTR PURPOSE: INTELLECTUAL PROPERTY EDUCATION/SUPPORT | $20,000 |