Al-Khatib Foundation
- Assets
- $860.6k
- Revenue
- $11.9k
- Investments
- $0.0
- Employees
- 0
- Location
- Newport Coast, CA
- Founding
- 03/2012
- Data as of
- 12/2023
- EIN
- 45-3089924
Organization Overview
Al-Khatib Foundation is located in Newport Coast, CA. The organization was established in 2012. 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. Al-Khatib 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 12/2023, Al-Khatib Foundation generated $11.9k in total revenue. This represents a relatively dramatic decline in revenue. Over the past 9 years, the organization has seen revenues fall by an average of (39.0%) each year. All expenses for the organization totaled $76.1k during the year ending 12/2023. You can explore the organizations financials more deeply in the financial statements section below.
Since 2015, Al-Khatib Foundation has awarded 65 individual grants totaling $1,433,670. If you would like to learn more about the grant giving history of this organization, scroll down to the grant profile section of this page.
Form
990PF
Mission & Program ActivityExcerpts From the 990PF Filing
TAX YEAR
2023
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE FOUNDATION MAKES CONTRIBUTIONS TO PRESELECTED CHARITABLE ORGANIZATIONS. SEE PART XIV.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Ahmad Al-Khatib President | 10 | $0 | |
Mona B Al-Khatib Secretary | 5 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $0 |
| Interest on Savings | $468 |
| Dividends & Interest | $0 |
| Net Rental Income | -$23,801 |
| Net Gain on Sale of Assets | $0 |
| Capital Gain Net Income | $0 |
| Net ST Capital Gain | $0 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $0 |
| Other Income | $0 |
| Total Revenue | $11,908 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $0 |
| Other employee salaries and wages | $0 |
| Pension plans, employee benefits | $0 |
| Interest | $0 |
| Taxes | $20,923 |
| Depreciation | $9,518 |
| Occupancy | $0 |
| Travel, conferences, and meetings | $0 |
| Printing and publications | $0 |
| Other expenses | $15,665 |
| Total operating and administrative expenses | $56,106 |
| Contributions, gifts, grants paid | $20,000 |
| Total expenses and disbursements | $76,106 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $184,123 |
| Savings and temporary cash investments | $537 |
| Net Accounts receivable | $1,050 |
| 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 | $670,348 |
| Investments—mortgage loans | $0 |
| Investments—other | $0 |
| Net Land, buildings, and equipment | $0 |
| Other assets | $4,500 |
| Total assets | $860,558 |
| 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 | $0 |
| Total liabilities | $0 |
Grants Awarded
Over the last fiscal year, Al-Khatib Foundation has awarded $20,000 in support to 2 organizations.
| Grant Recipient | Amount |
|---|---|
CARRINGTON CHARITABLE FOUNDATION PURPOSE: GENERAL FUND | $10,000 |
CAL POLY POMONA PURPOSE: GENERAL FUND | $10,000 |