Irvine Valley College Foundation
- Assets
- $4.3m
- Revenue
- $1.0m
- Investments
- $0.0
- Employees
- 0
- Location
- Irvine, CA
- Founding
- 06/2005
- Data as of
- 06/2022
- EIN
- 77-0239916
Organization Overview
Irvine Valley College Foundation is located in Irvine, CA. The organization was established in 2005. According to its NTEE Classification (T30) the organization is classified as: Public 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. Irvine Valley College 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 06/2022, Irvine Valley College Foundation generated $1.0m in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 0.9% each year. All expenses for the organization totaled $629.7k during the year ending 06/2022. 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 IVC FOUNDATION IS COMMITTED TO RAISING FUNDS TO SUPPORT THE STUDENTS OF IRVINE VALLEY COLLEGE.
Describe the Organization's Program Activity:
Part 3 - Line 4a
IRVINE VALLEY COLLEGE FOUNDATION HELPS TO CULTIVATE RESOURCES TO PROVIDE ACCESS TO AN EXCEPTIONAL EDUCATION AND A CARING CAMPUS COMMUNITY. IRVINE VALLEY COLLEGE FOUNDATION ASSISTS IN CAMPUS-WIDE EDUCATIONAL PROGRAMS. VARIOUS CAMPUS GROUPS PROVIDED FINANCIAL SUPPORT AND SUPPORT SERVICES TO STUDENTS TO AUGMENT THE SCHOOL CURRICULUM.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Rod Pierce 1st VP | OfficerTrustee | 1 | $0 |
Michael Drennen President | OfficerTrustee | 1 | $0 |
Damien Howard 2nd VP | OfficerTrustee | 1 | $0 |
Alexander J Merton Secretary | OfficerTrustee | 1 | $0 |
Viginia Lorimor Treasurer | OfficerTrustee | 1 | $0 |
Lisa Greenberg Past President | OfficerTrustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $127,350 |
| Related organizations | $0 |
| Government grants | $110,000 |
| All other contributions, gifts, grants, and similar amounts not included above | $572,620 |
| Noncash contributions included in lines 1a–1f | $29,313 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $809,970 |
| Total Program Service Revenue | $14,065 |
| Investment income | $81,341 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $128,428 |
| Net Income from Fundraising Events | $442 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $1,034,246 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $451,262 |
| 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 | $32,919 |
| 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 | $0 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $11,274 |
| Fees for services: Other | $9,499 |
| Advertising and promotion | $0 |
| Office expenses | $7,111 |
| Information technology | $0 |
| 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 | $12,265 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $0 |
| All other expenses | $14,406 |
| Total functional expenses | $629,733 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $132,108 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $142,452 |
| Accounts receivable, net | $90,723 |
| 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 | $9,460 |
| Net Land, buildings, and equipment | $0 |
| Investments—publicly traded securities | $3,463,983 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $415,927 |
| Total assets | $4,254,653 |
| Accounts payable and accrued expenses | $18,507 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| 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 | $25,454 |
| Total liabilities | $43,961 |
| Net assets without donor restrictions | $1,132,325 |
| Net assets with donor restrictions | $3,078,367 |
| 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 | $4,254,653 |
Grants Recieved
Over the last fiscal year, we have identified 5 grants that Irvine Valley College Foundation has recieved totaling $41,580.
| Awarding Organization | Amount |
|---|---|
Foundation For California Community Colleges Sacramento, CA PURPOSE: OSHER SCHOLARSHIP | $28,167 |
Edwards Lifesciences Foundation Irvine, CA PURPOSE: COMMUNITY GRANT | $5,000 |
Waltmar Foundation Irvine, CA PURPOSE: TO FURTHER THEIR CHARITABLE PURPOSE. | $5,000 |
Doty Family Foundation New York, NY PURPOSE: GENERAL SUPPORT | $3,000 |
Amazonsmile Foundation Seattle, WA PURPOSE: GENERAL SUPPORT | $413 |
Endowment Analysis
| Beg. Balance | $2,565,030 |
| Earnings | -$361,143 |
| Net Contributions | $283,669 |
| Other Expense | $102,070 |
| Ending Balance | $2,385,486 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
City Fund Beaverton, OR | $118,722,969 | $115,823,271 |
The Albertsons Companies Foundation Pleasanton, CA | $69,606,007 | $81,616,776 |
Second Harvest Of The Greater Valley Manteca, CA | $10,454,227 | $51,004,614 |
Community Initiatives Oakland, CA | $48,904,163 | $57,867,676 |
Tipping Point Community San Francisco, CA | $69,097,467 | $55,633,961 |
Dagmar Dolby Fund Novato, CA | $39,191,926 | $8,168,589 |
California Health Foundation And Trust Sacramento, CA | $115,138,512 | $36,749,563 |
Tides Network San Francisco, CA | $10,557,656 | $32,745,578 |
Focusing Philanthropy Inc Santa Monica, CA | $5,232,649 | $21,857,695 |
St Baldricks Foundation Inc Monrovia, CA | $22,964,481 | $22,578,479 |
Skid Row Housing Trust Los Angeles, CA | $203,059,004 | $18,739,094 |
Groundswell Fund San Francisco, CA | $42,239,063 | $24,343,616 |