Friends Of Hearst Castle Monument
- Assets
- $483.5k
- Revenue
- $472.5k
- Investments
- $0.0
- Employees
- 5
- Location
- San Simeon, CA
- Founding
- 01/1986
- Data as of
- 12/2021
- EIN
- 77-0068533
Organization Overview
Friends Of Hearst Castle Monument is located in San Simeon, CA. The organization was established in 1986. According to its NTEE Classification (T70) the organization is classified as: Federated Giving Programs, under the broad grouping of Philanthropy, Voluntarism & Grantmaking Foundations and related organizations. As of 12/2021, Friends Of Hearst Castle Monument employed 5 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Friends Of Hearst Castle Monument 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 12/2021, Friends Of Hearst Castle Monument generated $472.5k in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 3.5% each year. All expenses for the organization totaled $352.7k during the year ending 12/2021. While expenses have increased by 2.4% 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
2021
Describe the Organization's Mission:
Part 3 - Line 1
THE FOUNDATION AT HEARST CASTLE WORKS TO SUSTAIN HEARST CASTLE, CONSERVE ITS PRICELESS ART COLLECTION, AND INSPIRE FUTURE GENERATIONS. THE NONPROFIT ORGANIZATION RAISES FUNDS VIA DONATION, ANNUAL MEMBERSHIP, AND CHARITABLE EVENTS.
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE FOUNDATION AT HEARST CASTLE'S EVENTS ATTRACT UNIQUE AUDIENCES NOT TRADITIONALLY DRAWN TO THE CASTLE, AND IN SO DOING HEIGHTEN PUBLIC AWARENESS AND OFFER EDUCATIONAL OPPORTUNITIES.WILLIAM RANDOLPH HEARST WAS AN ART COLLECTOR WHO AMASSED AN IMPRESSIVE BODY OF WORK THAT GRACES NOT ONLY SAN SIMEON, BUT PRIVATE COLLECTIONS AND PUBLIC INSTITUTIONS. TWILIGHT ON THE TERRACE IS AN EVENT WHICH INTRODUCES SEVERAL HUNDRED GUESTS TO THE IMPORTANCE OF CONSERVATION OF THIS MUSEUM-QUALITY COLLECTION. THEIR DONATIONS HAVE A CRUCIAL IMPACT ON HEARST CASTLE'S FUTURE FOR STUDENTS, SCHOLARS, AND THE VISITING PUBLIC.
PROVIDE SERVICES AND SUPPORT FOR THE SAN LUIS OBISPO COASTAL DISTRICT.
CONCESSION SALES
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Michael Young Executive Dir. | Officer | 40 | $90,000 |
Evelyn Plemons Secretary | OfficerTrustee | 3 | $0 |
Abraham Marquez President & CEO | Officer | 4 | $0 |
Rick Wolfe Treasurer | Officer | 6 | $0 |
Schuyler Hoversten Director | Trustee | 2 | $0 |
Michael Chavez Booth Director | Trustee | 1 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Gary Hulbert Restoration | 12/30/21 | $50,000 |
Erik Risser Consultant | 12/30/21 | $14,852 |
Dana Patterson Grant Research | 12/30/21 | $2,589 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $81,076 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $286,667 |
| All other contributions, gifts, grants, and similar amounts not included above | $70,232 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $437,975 |
| Total Program Service Revenue | $7,500 |
| Investment income | $27,060 |
| 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 | $472,535 |
| 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. | $90,000 |
| Compensation of current officers, directors, key employees. | $15,300 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $79,133 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $40,194 |
| Payroll taxes | $13,497 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $6,370 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $19,687 |
| Office expenses | $2,679 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $2,667 |
| 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 | $4,072 |
| Insurance | $5,486 |
| All other expenses | $6,672 |
| Total functional expenses | $352,711 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $195,168 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $0 |
| 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 | $2,294 |
| Net Land, buildings, and equipment | $2,907 |
| Investments—publicly traded securities | $283,124 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $483,493 |
| Accounts payable and accrued expenses | $3,410 |
| Grants payable | $0 |
| Deferred revenue | $54,596 |
| 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 | $6,328 |
| Total liabilities | $64,334 |
| Net assets without donor restrictions | $419,159 |
| 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 | $483,493 |
Grants Recieved
Over the last fiscal year, we have identified 1 grants that Friends Of Hearst Castle Monument has recieved totaling $26,000.
| Awarding Organization | Amount |
|---|---|
Schwab Charitable Fund San Francisco, CA PURPOSE: ARTS, CULTURE & HUMANITIES | $26,000 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Jewish Community Foundation Of San Diego San Diego, CA | $448,399,166 | $106,011,475 |
Valley Of The Sun United Way Phoenix, AZ | $104,098,931 | $79,942,536 |
Orange Countys United Way Irvine, CA | $28,387,789 | $67,720,545 |
Entertainment Industry Foundation Los Angeles, CA | $110,994,468 | $64,821,214 |
Jewish Federation Council Of Greater Los Angeles Los Angeles, CA | $190,865,704 | $43,794,151 |
Aloha United Way Inc Honolulu, HI | $26,512,053 | $42,755,517 |
United Way Inc Los Angeles, CA | $90,203,286 | $68,762,414 |
Opportunity Village Foundation Las Vegas, NV | $82,150,112 | $9,952,519 |
Inland Southern California United Way Rancho Cucamonga, CA | $4,994,163 | $30,713,140 |
Daughters Of Charity Foundation Los Angeles, CA | $457,947,598 | $21,458,667 |
United Way Of The Bay Area San Francisco, CA | $48,210,343 | $41,978,143 |
United Way Of Santa Barbara County Inc Santa Barbara, CA | $15,549,253 | $21,862,789 |