Friends Of Chabot College
- Assets
- $1.4m
- Revenue
- $875.0k
- Investments
- $0.0
- Employees
- 0
- Location
- Hayward, CA
- Founding
- 08/2014
- Data as of
- 06/2022
- EIN
- 46-3708462
Organization Overview
Friends Of Chabot College is located in Hayward, CA. The organization was established in 2014. According to its NTEE Classification (B11) the organization is classified as: Single Organization Support, under the broad grouping of Education and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Friends Of Chabot College 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, Friends Of Chabot College generated $875.0k in total revenue. This organization has experienced exceptional growth, as over the past 4 years, it has increased revenue by an average of 55.7% each year . All expenses for the organization totaled $682.0k during the year ending 06/2022. While expenses have increased by 61.6% per year over the past 4 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 FRIENDS OF CHABOT COLLEGE FACILITATES CASH GIFTS, LEGACY GIFTS, CORPORATE CONTRIBUTIONS, IN-KIND CONTRIBUTIONS, AND OTHER METHODS OF GIVING IN ORDER TO SECURE FUNDS FOR THE ADVANCEMENT OF THE COLLEGE AND STUDENTS.
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE FRIENDS OF CHABOT COLLEGE (FCC) SUPPORTS CHABOT COLLEGE PROGRAMS AND STUDENTS THROUGH PHILANTHROPIC ACTIVITIES, SUCH AS FUNDRAISERS, SCHOLARSHIP AND EMERGENCY AID OPPORTUNITIES. IN RESPONSE TO THE PANDEMIC, THE FCC HAS BEEN DISTRIBUTING LARGE AMOUNTS OF DIRECT EMERGENCY AID TO STUDENTS SINCE 2020. CHABOT STUDENTS RECEIVING AID HAD HIGHER SUCCESS RATES AND RETENTION RATES THAN STUDENTS WHO DID NOT RECEIVE AID. THE FCC ALSO HELD ITS ANNUAL GALA FUNDRAISER RAISING 40,000 THAT WENT TO SUPPORT CHABOT PROGRAMS AND SCHOLARSHIPS. THE FCC ALSO RECEIVED OVER 1,000 SCHOLARSHIP APPLICATIONS AND AWARDED OVER 93,000 IN SCHOLARSHIPS TO CHABOT STUDENTS.
IN 2022, THE FCC CONTINUED TO PARTNER WITH THE COLLEGE TO AWARD INCREASING AMOUNTS OF EMERGENCY AID IN RESPONSE TO THE COVID-19 PANDEMIC. THE FCC HELD ITS FIRST IN-PERSON GALA WHICH RAISED CLOSE TO 40,000 WHILE CELEBRATING CHABOT'S NEW FOOTBALL FIELD. SCHOLARSHIPS CONTINUE TO BE AWARDED EACH YEAR AND ALUMNI PROGRAMMING, BOTH VIRTUALLY AND IN-PERSON, IS EXPANDING.
THE FCC WAS ABLE TO MEET ITS FIVE-YEAR HISPANIC-SERVING INSTITUTIONS (H.S.I.) ENDOWMENT MATCH COMMITMENT, ESTABLISHING THE FOUNDATION'S FIRST H.S.I. ENDOWMENT OF 220,000. THE FCC WILL CONTINUE COLLABORATING WITH COLLEGE STAFF TO RAISE FUNDS FOR COLLEGE PROGRAMS, SPONSOR EVENTS IN THE COMMUNITY, AND ENGAGE WITH COMMUNITY PARTNERS TO EXPAND THE REACH AND AWARENESS OF CHABOT PROGRAMS AND SERVICES.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Mark Salinas Chair/presid | OfficerTrustee | 2 | $0 |
Pat Gacoscos Vice Chair/s | OfficerTrustee | 2 | $0 |
Dale Wagoner Treasurer | OfficerTrustee | 1 | $0 |
Sheryl Boykins Board Member | Trustee | 2 | $0 |
Marita Cheng Board Member | Trustee | 2 | $0 |
Dr Hal Gin Board Member | Trustee | 2 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $24,728 |
| Related organizations | $0 |
| Government grants | $526,060 |
| All other contributions, gifts, grants, and similar amounts not included above | $273,891 |
| Noncash contributions included in lines 1a–1f | $465 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $824,679 |
| Total Program Service Revenue | $43,728 |
| Investment income | $9,051 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | -$2,447 |
| Net Income from Fundraising Events | $2 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $875,013 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $4,500 |
| Grants and other assistance to domestic individuals. | $594,720 |
| 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 | $36,941 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $5,363 |
| Fees for services: Other | $27,467 |
| Advertising and promotion | $87 |
| Office expenses | $372 |
| Information technology | $6,456 |
| 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 | $5,320 |
| Interest | $140 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $0 |
| All other expenses | $595 |
| Total functional expenses | $681,961 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $525,435 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $75,664 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $60,685 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $2,403 |
| Net Land, buildings, and equipment | $0 |
| Investments—publicly traded securities | $705,017 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $1,369,204 |
| Accounts payable and accrued expenses | $88,361 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| Tax-exempt bond liabilities | $0 |
| Escrow or custodial account liability | $195,597 |
| 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 | $283,958 |
| Net assets without donor restrictions | $30,634 |
| Net assets with donor restrictions | $1,054,612 |
| 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 | $1,369,204 |