Canet Foundation
- Assets
- $12.7m
- Revenue
- $382.4k
- Investments
- $7.9m
- Employees
- 0
- Location
- Sherman Oaks, CA
- Founding
- 03/2003
- Data as of
- 12/2022
- EIN
- 48-1272926
Organization Overview
Canet Foundation is located in Sherman Oaks, CA. The organization was established in 2003. According to its NTEE Classification (B94) the organization is classified as: Parent & Teacher Groups, 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. Canet 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 12/2022, Canet Foundation generated $382.4k in total revenue. This organization has experienced exceptional growth, as over the past 8 years, it has increased revenue by an average of 12.4% each year . All expenses for the organization totaled $784.2k during the year ending 12/2022. You can explore the organizations financials more deeply in the financial statements section below.
Since 2016, Canet Foundation has awarded 86 individual grants totaling $1,896,950. 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.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Nicholas Torokvei Director | 30 | $57,200 | |
David Garelick Secretary | 5 | $0 | |
Brant Van Hoffman Board Member | 1 | $0 | |
John L Hart Director | 5 | $0 | |
John Brooks Board Member | 1 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Cnr Securities | 12/30/22 | $50,082 |
Charles Schwab & Co Inc | 12/30/22 | $29,084 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $0 |
| Interest on Savings | $20,069 |
| Dividends & Interest | $227,012 |
| Net Rental Income | $0 |
| Net Gain on Sale of Assets | $70,551 |
| Capital Gain Net Income | $70,551 |
| Net ST Capital Gain | $70,551 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $0 |
| Other Income | $64,759 |
| Total Revenue | $382,391 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $79,163 |
| Other employee salaries and wages | $0 |
| Pension plans, employee benefits | $0 |
| Interest | $0 |
| Taxes | $11,543 |
| Depreciation | $0 |
| Occupancy | $0 |
| Travel, conferences, and meetings | $3,332 |
| Printing and publications | $0 |
| Other expenses | $347,399 |
| Total operating and administrative expenses | $473,981 |
| Contributions, gifts, grants paid | $310,200 |
| Total expenses and disbursements | $784,181 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $25,618 |
| Savings and temporary cash investments | $137,440 |
| Net Accounts receivable | $0 |
| 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 | $4,700,722 |
| Investments—mortgage loans | $0 |
| Investments—other | $2,537,699 |
| Net Land, buildings, and equipment | $0 |
| Other assets | $2,000 |
| Total assets | $12,736,948 |
| 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 | $43,195 |
| Total liabilities | $43,195 |
Grants Awarded
Over the last fiscal year, Canet Foundation has awarded $310,200 in support to 16 organizations.
| Grant Recipient | Amount |
|---|---|
TEMPLE BETH SHOLOM PURPOSE: EDUCATIONAL PROGRAMS | $10,000 |
INNER-CITY ARTS PURPOSE: EDUCATIONAL PROGRAMS | $35,000 |
A PLACE CALLED HOME PURPOSE: EDUCATIONAL PROGRAMS | $40,000 |
THE BOYS GIRLS CLUB PURPOSE: EDUCATIONAL PROGRAMS | $10,000 |
SANTA FE ART INSTITUTE PURPOSE: EDUCATIONAL PROGRAMS | $20,000 |
SCV SENIOR CENTER PURPOSE: CHARITABLE PURPOSE | $5,000 |