Celebrity Foundation For Children
- Assets
- $1.9m
- Revenue
- $851.8k
- Investments
- $0.0
- Employees
- 0
- Location
- Newport Beach, CA
- Founding
- 01/1999
- Data as of
- 12/2022
- EIN
- 33-0766784
Organization Overview
Celebrity Foundation For Children is located in Newport Beach, CA. The organization was established in 1999. According to its NTEE Classification (T12) the organization is classified as: Fund Raising & Fund Distribution, 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. Celebrity Foundation For Children 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, Celebrity Foundation For Children generated $851.8k in total revenue. This represents a relatively dramatic decline in revenue. Over the past 8 years, the organization has seen revenues fall by an average of (16.0%) each year. All expenses for the organization totaled $1.1m during the year ending 12/2022. 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
2022
Describe the Organization's Mission:
Part 3 - Line 1
THE FOUNDATION'S PRIMARY EXEMPT PURPOSE IS TO CARRY OUT VARIOUS CHARITABLE AND EDUCATIONAL ACTIVITIES, INCLUDING WITHOUT LIMITATION, PROVIDING FINANCIAL SUPPORT TO ORGANIZATIONS DEDICATED TO COMMUNITY SERVICE, YOUTH ACTIVITIES, EDUCATIONAL ACTIVITES AND TO THOSE DEDICATED TO IMPROVING THE STANDARD OF LIVING OF THE POOR, UNDERPRIVILEGED AND OTHER DESERVING INDIVIDUALS WITH EMPHASIS ON THE YOUNG.
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE FOUNDATION OPERATED A WESTERN RANCH SETTING FREE OF CHARGE FOR LOW INCOME CHILDREN AND FAMILIES OF MILITARY SERVICE PERSONEL AND IS DEDICATED TO PROMOTING THE HEALTH AND WELFARE OF THE CHILDREN AND THEIR FAMILIES.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Settie Vartanian Director | Trustee | 2 | $0 |
Michael P Farah CEO | Officer | 20 | $0 |
C Victor Wylie CFO | Officer | 2 | $0 |
Randy Luenebrink Director | Officer | 2 | $0 |
Cristine Farah Secretary | Officer | 5 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $557,400 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $557,400 |
| Total Program Service Revenue | $9,100 |
| Investment income | $29,721 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $255,540 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $851,761 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $33,600 |
| 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 | $102,472 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $10,962 |
| Fees for services: Management | $13,308 |
| Fees for services: Legal | $101,362 |
| Fees for services: Accounting | $7,280 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $2,082 |
| Advertising and promotion | $34,435 |
| Office expenses | $2,398 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $56,217 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $272 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $132,100 |
| Insurance | $23,613 |
| All other expenses | $168,604 |
| Total functional expenses | $1,127,514 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $64,425 |
| Savings and temporary cash investments | $33,809 |
| 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 | $500 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $0 |
| Net Land, buildings, and equipment | $978,489 |
| Investments—publicly traded securities | $851,717 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $1,928,940 |
| Accounts payable and accrued expenses | $36,544 |
| 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 | $16,674 |
| Total liabilities | $53,218 |
| Net assets without donor restrictions | $1,875,722 |
| 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 | $1,928,940 |
Grants Awarded
Over the last fiscal year, Celebrity Foundation For Children has awarded $22,100 in support to 3 organizations.
| Grant Recipient | Amount |
|---|---|
POLO PLAYERS SUPPORT GROUP PURPOSE: DONATION | $6,100 |
SFSLAC GUARDIAN ANGEL PURPOSE: DONATION | $6,000 |
WOMENS MILITARY MEMORIAL PURPOSE: donation | $10,000 |