Watts Learning Center Foundation Inc
- Assets
- $15.3m
- Revenue
- $13.5m
- Investments
- $0.0
- Employees
- 130
- Location
- Los Angeles, CA
- Founding
- 04/1999
- Data as of
- 06/2022
- EIN
- 33-0768316
Organization Overview
Watts Learning Center Foundation Inc is located in Los Angeles, CA. The organization was established in 1999. According to its NTEE Classification (B20) the organization is classified as: Elementary & Secondary Schools, under the broad grouping of Education and related organizations. As of 06/2022, Watts Learning Center Foundation Inc employed 130 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Watts Learning Center 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 06/2022, Watts Learning Center Foundation Inc generated $13.5m in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 6.1% each year. All expenses for the organization totaled $12.0m during the year ending 06/2022. While expenses have increased by 8.2% 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.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2022
Describe the Organization's Mission:
Part 3 - Line 1
THE WATTS LEARNING CENTER IS AN INDEPENDENT PUBLIC CHARTER ELEMENTARY AND MIDDLE SCHOOL IN THE INNER CITY OF LOS ANGELES. OUR GOAL IS TO PROVIDE A WORLD-CLASS EDUCATION AND TO ACHIEVE OPTIMUM LEARNING AMONG OUR STUDENTS.
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE FOUNDATION PROVIDED OVERSIGHT OF THE ACADEMIC,FINANCIAL, HUMAN RESOURCE, MARKETING, PARENT RELATIONS, COMMUNITY RELATIONS, AND FACILITIES OF THE WATTS LEARNING CENTER (A CHARTER SCHOOL OF THE LOS ANGELES UNIFIED SCHOOL DISTRICT). THE FOUNDATION ALSO ASSISTED IN OBTAINING TEMPORARY ADVANCES, LOANS AND GRANTS FROM OTHERS WHICH WERE USED IN THE DEVELOPMENT AND DIRECT SUPPORT OF THE OPERATIONS OF THE SCHOOL. THESE RESOURCES AND ASSISTANCE ALLOWED THE SCHOOL TO OFFER INSTRUCTION FOR KINDERGARTEN,ELEMENTARY AND MIDDLE STUDENTS DURING THE SCHOOL YEAR.
Get More from Intellispect for FreeCreate a free account to get more data, nonprofit salaries, advanced search and more.
Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Eugene L Fisher President | OfficerTrustee | 2 | $0 |
David Mora Treasurer/secretary | OfficerTrustee | 2 | $0 |
Glen Polson Member | Trustee | 2 | $0 |
Justin Sanders Member | Trustee | 2 | $0 |
Dr Darell J Schregardus Member | Trustee | 2 | $0 |
Rao Yalamanchili Member | Trustee | 2 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
School Nutrition Plus Nutrition Program | 6/29/22 | $529,017 |
Star Inc Afterschool Provider | 6/29/22 | $194,727 |
Excellent Education Development Inc Back-office Services | 6/29/22 | $187,776 |
Cross Country Education Special Education Services | 6/29/22 | $133,047 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $12,643,191 |
| All other contributions, gifts, grants, and similar amounts not included above | $811,507 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $13,454,698 |
| Total Program Service Revenue | $0 |
| Investment income | $0 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $13,454,698 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| 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. | $196,833 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $5,285,932 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $858,820 |
| Payroll taxes | $1,629,427 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $0 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $1,048,729 |
| Advertising and promotion | $77,770 |
| Office expenses | $30,191 |
| Information technology | $160,218 |
| Royalties | $0 |
| Occupancy | $1,052,233 |
| Travel | $3,977 |
| 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 | $116,765 |
| Insurance | $55,106 |
| All other expenses | $252,620 |
| Total functional expenses | $11,999,505 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $9,196,836 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $3,123,706 |
| 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 | $95,353 |
| Net Land, buildings, and equipment | $449,002 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $2,483,999 |
| Total assets | $15,348,896 |
| Accounts payable and accrued expenses | $869,777 |
| 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 | $1,671,630 |
| Total liabilities | $2,541,407 |
| Net assets without donor restrictions | $12,807,489 |
| 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 | $15,348,896 |