Hermosa Beach Education Foundation
- Assets
- $4.3m
- Revenue
- $1.1m
- Investments
- $0.0
- Employees
- 0
- Location
- Hermosa Beach, CA
- Founding
- 11/1992
- Data as of
- 06/2021
- EIN
- 33-0522270
Organization Overview
Hermosa Beach Education Foundation is located in Hermosa Beach, CA. The organization was established in 1992. According to its NTEE Classification (Z99) the organization is classified as: Unknown, under the broad grouping of Unknown and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Hermosa Beach Education 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, Hermosa Beach Education Foundation generated $1.1m in total revenue. This represents relatively stable growth, over the past 6 years the organization has increased revenue by an average of 1.0% each year. All expenses for the organization totaled $1.1m during the year ending 06/2021. While expenses have increased by 2.3% per year over the past 6 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
2021
Describe the Organization's Mission:
Part 3 - Line 1
TO PROMOTE INVESTMENT IN HERMOSA BEACH PUBLIC SCHOOLS AND PROVIDE EDUCATIONAL GRANTS
Describe the Organization's Program Activity:
Part 3 - Line 4a
PROVIDED GRANTS TO BENEFIT HERMOSA BEACH CITY SCHOOL DISTRICT. THESE GRANTS SUPPLEMENT THE CORE CURRICULUM AND BENEFIT ALL GRADE LEVELS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Jonalyn Morris Busam Vice President | Officer | 2 | $0 |
Sarah Matzen Vice President | Officer | 2 | $0 |
Veronica Gathercole Secretary | Officer | 2 | $0 |
Ryan Mcdowell Cio | Officer | 1 | $0 |
Carol Reid Kluthe President | Officer | 2 | $0 |
Cameron Neece Mcdowell Vice President | Officer | 2 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $57,774 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $750,210 |
| Noncash contributions included in lines 1a–1f | $57,774 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $807,984 |
| Total Program Service Revenue | $0 |
| Investment income | $53,694 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $20,419 |
| Net Income from Fundraising Events | $234,954 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $1,117,051 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $1,076,594 |
| Grants and other assistance to domestic individuals. | $0 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $0 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $0 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $405 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $862 |
| Office expenses | $0 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $1,337 |
| All other expenses | $1,060 |
| Total functional expenses | $1,106,904 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $297,906 |
| Savings and temporary cash investments | $833,797 |
| Pledges and grants receivable | $0 |
| 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 | $0 |
| Net Land, buildings, and equipment | $0 |
| Investments—publicly traded securities | $3,212,381 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $4,344,084 |
| Accounts payable and accrued expenses | $0 |
| 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 | $0 |
| Total liabilities | $0 |
| Net assets without donor restrictions | $4,344,084 |
| Net assets with donor restrictions | $0 |
| 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 | $4,344,084 |
Grants Recieved
Over the last fiscal year, we have identified 14 grants that Hermosa Beach Education Foundation has recieved totaling $329,304.
| Awarding Organization | Amount |
|---|---|
Skechers Foundation Manhattan Beach, CA PURPOSE: GENERAL SUPPORT | $163,899 |
Windsong Tr Manhattan Beach, CA PURPOSE: EDUCATIONAL PROGRAM SUPPORT | $75,000 |
American Online Giving Foundation Inc Newark, DE PURPOSE: GENERAL SUPPORT | $33,074 |
Charities Aid Foundation America Alexandria, VA PURPOSE: CHARITABLE DONATION | $15,992 |
Stephanie And Peter Nolan Foundation Hermosa Beach, CA PURPOSE: AS NEEDED | $10,000 |
John H & Cynthia Lee Smet Foundation Manhattan Beach, CA PURPOSE: EDUCATION | $10,000 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Oak Grove Institute Foundation Inc Murrieta, CA | $29,102,821 | $23,083,215 |
Taco Bell Foundation Inc Irvine, CA | $32,895,109 | $23,910,509 |
Albina Head Start Inc Portland, OR | $22,611,624 | $19,457,720 |
Orbis Cascade Alliance Portland, OR | $8,013,554 | $17,694,791 |
Albert Einstein Academies San Diego, CA | $21,189,771 | $17,379,077 |
Prospect Sierra School El Cerrito, CA | $31,201,283 | $16,565,547 |
Options Counseling Services Of Oregon Eugene, OR | $12,586,092 | $15,957,358 |
Transitions - Mental Health Association San Luis Obispo, CA | $15,943,493 | $14,891,475 |
International Myeloma Foundation Studio City, CA | $20,383,236 | $17,434,390 |
Open Networking Foundation Palo Alto, CA | $9,261,912 | $16,468,416 |
Sonoma Valley Community Health Center Sonoma, CA | $15,645,180 | $13,937,473 |
After-School All-Stars Los Angeles, CA | $10,011,535 | $13,148,528 |