Snap Foundation
- Assets
- $149.3m
- Revenue
- $215.3k
- Investments
- $141.9m
- Employees
- 0
- Location
- Santa Monica, CA
- Founding
- 06/2017
- Data as of
- 12/2022
- EIN
- 61-1817014
Organization Overview
Snap Foundation is located in Santa Monica, CA. The organization was established in 2017. According to its NTEE Classification (T22) the organization is classified as: Private Independent 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. Snap 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, Snap Foundation generated $215.3k in total revenue. This represents a relatively dramatic decline in revenue. Over the past 5 years, the organization has seen revenues fall by an average of (61.3%) each year. All expenses for the organization totaled $16.4m during the year ending 12/2022. You can explore the organizations financials more deeply in the financial statements section below.
Since 2019, Snap Foundation has awarded 72 individual grants totaling $26,906,172. 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 |
|---|---|---|---|
Sarah Ali Dir, Chair | 30 | $0 | |
Kelly Kagan Law Dir, Sec, Chair | 1 | $0 | |
Betsy Kenny Lack Dir, Treas, Pres | 1 | $0 | |
Atul Porwal Assistant Sec | 1 | $0 | |
Mary Ritti Dir, Vice Chair, Sec, Treas | 1 | $0 | |
Jonathon Locascio Chief Tax Officer | 1 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Jcsa Inc | 12/30/22 | $135,000 |
Russell Reynolds Associates Inc | 12/30/22 | $129,800 |
Goldman Sachs | 12/30/22 | $105,288 |
Foundation Source | 12/30/22 | $70,900 |
Jp Morgan Chase Bank | 12/30/22 | $58,847 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $0 |
| Interest on Savings | $38,053 |
| Dividends & Interest | $2,396,489 |
| Net Rental Income | $0 |
| Net Gain on Sale of Assets | -$2,454,068 |
| Capital Gain Net Income | $0 |
| Net ST Capital Gain | $0 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $0 |
| Other Income | $234,776 |
| Total Revenue | $215,250 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $0 |
| Other employee salaries and wages | $617,123 |
| Pension plans, employee benefits | $85,162 |
| Interest | $0 |
| Taxes | $49,115 |
| Depreciation | $0 |
| Occupancy | $12,210 |
| Travel, conferences, and meetings | $25,405 |
| Printing and publications | $588 |
| Other expenses | $513,693 |
| Total operating and administrative expenses | $1,977,080 |
| Contributions, gifts, grants paid | $14,407,308 |
| Total expenses and disbursements | $16,384,388 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $7,352,141 |
| Net Accounts receivable | $11,731 |
| 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 | $0 |
| Investments—mortgage loans | $0 |
| Investments—other | $24,703,988 |
| Net Land, buildings, and equipment | $0 |
| Other assets | $33,650 |
| Total assets | $149,325,463 |
| 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, Snap Foundation has awarded $14,407,308 in support to 13 organizations.
| Grant Recipient | Amount |
|---|---|
4C LAB PURPOSE: ANNUAL NEUEHOUSE MEMBERSHIP FUND | $1,600 |
CALIFORNIA COMMUNITY FOUNDATION PURPOSE: SNAP FOUNDATION'S DONOR ADVISED FUND | $13,185,558 |
CALIFORNIA COMMUNITY FOUNDATION PURPOSE: LOS ANGELES ARTS RELIEF AND RECOVERY FUND | $250,000 |
COMMUNITY PARTNERS PURPOSE: IN SUPPORT OF VIGILANT LOVE AND ANNUAL NEUEHOUSE MEMEBERSHIP FUND | $1,600 |
DESTINATION CRENSHAW PURPOSE: GENERAL & UNRESTRICTED | $200,000 |
DREAM HAUS INC PURPOSE: GENERAL & UNRESTRICTED | $15,000 |