Kaneta Foundation
- Assets
- $4.5m
- Revenue
- $970.5k
- Investments
- $3.4m
- Employees
- 0
- Location
- Las Vegas, NV
- Founding
- 08/1999
- Data as of
- 12/2021
- EIN
- 31-1655882
Organization Overview
Kaneta Foundation is located in Las Vegas, NV. The organization was established in 1999. According to its NTEE Classification (T20) the organization is classified as: Private Grantmaking 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. Kaneta 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 12/2021, Kaneta Foundation generated $970.5k in total revenue. This organization has experienced exceptional growth, as over the past 4 years, it has increased revenue by an average of 49.3% each year . All expenses for the organization totaled $279.6k during the year ending 12/2021. You can explore the organizations financials more deeply in the financial statements section below.
Form
990PF
Mission & Program ActivityExcerpts From the 990PF Filing
TAX YEAR
2021
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE FOUNDATION, IN PARTNERSHIP WITH THE UNIVERSITY OF HAWAII FOUNDATION AND THE KAPIOLANI COMMUNITY COLLEGE (KCC), HAS NARROWED ITS FOCUS TO THE AT-RISK COMMUNITY. WITH THE FORMATION OF THE "LUNALILO SCHOLARS PROGRAM" AT KCC, STUDENTS RECEIVE A ONE-YEAR TUITION ASSISTANCE PROGRAM THAT INCLUDES A RANGE OF SOCIAL SERVICES THAT PROVIDES TRANSFORMATIVE COLLEGE EXPERIENCES. THE INTENSIVE SUPPORT SYSTEM IS DESIGNED TO ASSIST THE STUDENTS IN OVERCOMING THE MANY PERSONAL AND ACADEMIC CHALLENGES. THE STUDENTS MUST PARTICIPATE IN A SUMMER BRIDGE PROGRAM TO HELP THEM BOND WITH THEIR PEER COHART AND TO PREPARE THEMSELVES FOR THEIR FIRST YEAR AT COLLEGE.
THE FOUNDATION ALSO AWARDS GRANTS TO COMMUNITY PROGRAMS IN HAWAII AND NEVADA. IN 2021 IT MADE A COMMUNITY AWARD TO THE UNIVERSITY AVENUE BAPTIST CHURCH AND SPRING VALLEY BAPTIST CHURCH.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Lester Kaneta President | 5 | $0 | |
Marian Kaneta Secretary | 5 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $128,673 |
| Interest on Savings | $11,671 |
| Dividends & Interest | $53,701 |
| Net Rental Income | $0 |
| Net Gain on Sale of Assets | $776,279 |
| Capital Gain Net Income | $776,279 |
| Net ST Capital Gain | $95,810 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $0 |
| Other Income | $138 |
| Total Revenue | $970,462 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $0 |
| Other employee salaries and wages | $0 |
| Pension plans, employee benefits | $0 |
| Interest | $0 |
| Taxes | $11,674 |
| Depreciation | $0 |
| Occupancy | $0 |
| Travel, conferences, and meetings | $0 |
| Printing and publications | $0 |
| Other expenses | $42,501 |
| Total operating and administrative expenses | $59,594 |
| Contributions, gifts, grants paid | $220,000 |
| Total expenses and disbursements | $279,594 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $9,255 |
| Savings and temporary cash investments | $1,071,243 |
| 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 | $0 |
| Net Investments - land, buildings, equipment | $0 |
| Investments—mortgage loans | $0 |
| Investments—other | $0 |
| Net Land, buildings, and equipment | $0 |
| Other assets | $0 |
| Total assets | $4,526,072 |
| 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 | $2,281 |
| Total liabilities | $2,281 |
Grants Awarded
Over the last fiscal year, Kaneta Foundation has awarded $220,000 in support to 3 organizations.
| Grant Recipient | Amount |
|---|---|
UNIVERSITY OF HAWAII FOUNDATION PURPOSE: SCHOLARSHIPS FOR "LUNALILO SCHOLARS PROGRAM" | $200,000 |
Honolulu, HI PURPOSE: SUPPORT GENERAL FUND | $10,000 |
SPRING VALLEY BAPTIST CHURCH PURPOSE: SUPPORT GENERAL FUND | $10,000 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Dr Miriam And Sheldon G Adelson Las Vegas, NV | $37,664,470 | $5,516,038 |
Shimon Ben Joseph Foundation San Francisco, CA | $1,592,283,787 | $39,921,005 |
Alfred C Munger Foundation Los Angeles, CA | $17,737,694 | $91,163,030 |
Hellman Foundation San Francisco, CA | $693,471,633 | $133,789,010 |
The Eric And Wendy Schmidt Fund For Strategic Innovation Palo Alto, CA | $1,715,568,763 | $412,161,407 |
Omidyar Network Fund Inc Redwood City, CA | $490,038,780 | $21,031,743 |
Sobrato Family Foundation Mountain View, CA | $811,956,453 | $266,068,436 |
Moore Family Foundation Incline Village, NV | $173,909 | $5,659,701 |
Benificus Foundation San Carlos, CA | $13,481,294 | $1,960,393 |
H&h Evergreen Foundation Menlo Park, CA | $393,647,714 | $39,435,652 |
The Energy Foundation San Francisco, CA | $108,278,429 | $83,158,939 |
Stupski Foundation San Francisco, CA | $0 | $134,835,311 |