East Los Angeles College Foundation
- Assets
- $7.1m
- Revenue
- $1.3m
- Investments
- $5.5m
- Employees
- 40
- Location
- Monterey Park, CA
- Founding
- 07/1985
- Data as of
- 06/2021
- EIN
- 33-0034221
Organization Overview
East Los Angeles College Foundation is located in Monterey Park, CA. The organization was established in 1985. According to its NTEE Classification (B11) the organization is classified as: Single Organization Support, under the broad grouping of Education and related organizations. As of 06/2021, East Los Angeles College Foundation employed 40 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. East Los Angeles College 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 06/2021, East Los Angeles College Foundation generated $1.3m 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 (5.3%) each year. All expenses for the organization totaled $1.8m during the year ending 06/2021. 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
2021
Describe the Organization's Mission:
Part 3 - Line 1
TO PROMOTE AND ELEVATE THE COLLEGE IN FULFILLING ITS MISSION AND REACHING ITS GOALS THROUGH MARKETING AND ADVOCACY, COMMUNITY AND INDUSTRY CONNECTIONS AND FINANCIAL SUPPORT.
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE CALIFORNIA STUDENT OPPORTUNITY AND ACCESS PROGRAM (CAL-SOAP)WAS ESTABLISHED BY THE STATE LEGISLATURE IN 1978. TODAY, CAL-SOAP IS INSTRUMENTAL IN IMPROVING THE FLOW OF INFORMATION ABOUT POSTSECONDARY EDUCATION AND FINANCIAL AID WHILE RAISING THE ACHIEVEMENT LEVELES OF LOW-INCOME, ELEMENTARY AND SECONDARY SCHOOL STUDENTS OR GEOGRAPHIC REGIONS WITH DOCUMENTED LOW-ELIGIBILITY OR COLLEGE PARETICIPATION RATES, AND WHO ARE FIRST IN THEIR FAMILIES TO ATTEND COLLEGE.
SCHOLARSHIPS - THE FOUNDATION ADMINISTERS SCHOLARSHIPS FUNDED BY DONATIONS FROM FOUNDATIONS, INDIVIDUALS AND GOVERNMENT PROGRAMS.
LAUSD GEAR UP CONTRACT: TO INCREASE THE NUMBER OF LOW-INCOME STUDENTS WHO ARE PREPARED TO ENTER AND SUCCEED IN POST SECONDARY EDUCATION. THE PROGRAM PROVIDES SERVICES IN HIGH POVERTY MIDDLE AND HIGH SCHOOLS THROUGH THE FIRST YEAR OF COLLEGE
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Armond Aghakhanian Executive Director | Officer | 40 | $160,992 |
Marissa Castro Salvati President | OfficerTrustee | 4 | $0 |
Thomas Dimascio Vice President | OfficerTrustee | 2 | $0 |
Phil Cohen Vice President | OfficerTrustee | 2 | $0 |
Kassandra Sanchez Treasurer | OfficerTrustee | 1 | $0 |
Tina Hwang President Emiritus | OfficerTrustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $296,556 |
| All other contributions, gifts, grants, and similar amounts not included above | $381,503 |
| Noncash contributions included in lines 1a–1f | $251,193 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $678,059 |
| Total Program Service Revenue | $20,448 |
| Investment income | $121,970 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $459,613 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $1,280,090 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $277,941 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $160,992 |
| Compensation of current officers, directors, key employees. | $33,808 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $759,055 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $38,500 |
| Payroll taxes | $59,502 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $9,378 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $19,315 |
| Fees for services: Other | $58,891 |
| Advertising and promotion | $63,625 |
| Office expenses | $64,691 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $1,475 |
| Travel | $177 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $3,489 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $16,760 |
| Insurance | $3,348 |
| All other expenses | $0 |
| Total functional expenses | $1,824,437 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $1,010,138 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $18,705 |
| 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 | $148,780 |
| Net Land, buildings, and equipment | $29,472 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $5,505,825 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $381,582 |
| Total assets | $7,094,502 |
| Accounts payable and accrued expenses | $58,224 |
| Grants payable | $0 |
| 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 | $0 |
| Other liabilities | $71,134 |
| Total liabilities | $129,358 |
| Net assets without donor restrictions | $1,261,213 |
| Net assets with donor restrictions | $5,703,931 |
| 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 | $7,094,502 |
Grants Recieved
Over the last fiscal year, we have identified 11 grants that East Los Angeles College Foundation has recieved totaling $270,919.
| Awarding Organization | Amount |
|---|---|
College Futures Foundation Oakland, CA PURPOSE: STUDENT-CENTRIC PRACTICES PROGRAM GRANT | $151,000 |
Foundation For California Community Colleges Sacramento, CA PURPOSE: OSHER SCHOLARSHIP | $68,900 |
Schwab Charitable Fund San Francisco, CA PURPOSE: EDUCATION | $20,000 |
Grace And Li Yu Family Foundation Los Angeles, CA PURPOSE: CHARITABLE PURPOSE | $10,000 |
Hmc Designing Futures Foundation Ontario, CA PURPOSE: 2021 GRANT AWARD | $5,000 |
Verizon Foundation Basking Ridge, NJ PURPOSE: TRANSFORMING LIVES CAMPAIGN (TLC) COVID-19 RELIEF EFFORTS FOR STUDENTS & THEIR FAMILIES | $5,000 |
Endowment Analysis
| Beg. Balance | $4,871,988 |
| Earnings | $1,182,056 |
| Other Expense | $211,381 |
| Ending Balance | $5,842,663 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
The University Corporation San Francisco State San Francisco, CA | $47,309,090 | $29,247,706 |
California State University Dominguez Hills Foundation Carson, CA | $11,765,317 | $14,222,352 |
Northern Arizona University Fdn Inc Flagstaff, AZ | $256,288,832 | $37,761,443 |
Allan Hancock College Foundation Santa Maria, CA | $20,101,421 | $6,236,200 |
Wave Property Inc Malibu, CA | $0 | -$40,507 |
U C Riverside Foundation Riverside, CA | $204,662,854 | $24,632,492 |
San Francisco State University Foundation San Francisco, CA | $183,676,818 | $22,479,029 |
10000 Degrees San Rafael, CA | $19,169,911 | $12,132,333 |
Klare Holdings Los Angeles, CA | $259,758,492 | $15,264,279 |
California State University - Northridge Foundation Northridge, CA | $300,894,352 | $70,202,583 |
John H & Cynthia Lee Smet Foundation Manhattan Beach, CA | $180,146,566 | $55,938,171 |
Riverside County Office Of Education Foundation Riverside, CA | $343,683 | $10,179,019 |