Mammoth Lakes Foundation
- Assets
- $9.4m
- Revenue
- $1.7m
- Investments
- $0.0
- Employees
- 3
- Location
- Mammoth Lakes, CA
- Founding
- 11/1994
- Data as of
- 06/2023
- EIN
- 77-0245395
Organization Overview
Mammoth Lakes Foundation is located in Mammoth Lakes, CA. The organization was established in 1994. According to its NTEE Classification (C60) the organization is classified as: Environmental Education, under the broad grouping of Environment and related organizations. As of 06/2023, Mammoth Lakes Foundation employed 3 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Mammoth Lakes 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 06/2023, Mammoth Lakes Foundation generated $1.7m in total revenue. The organization has seen a slow decline revenue. Over the past 8 years, revenues have fallen by an average of (0.2%) each year. All expenses for the organization totaled $422.8k during the year ending 06/2023. As we would expect to see with falling revenues, expenses have declined by (13.2%) per year over the past 8 years. 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
2023
Describe the Organization's Mission:
Part 3 - Line 1
TO SUPPORT THE DEVELOPMENT OF HIGHER EDUCATION AND CULTURAL ENRICHMENT IN THE EASTERN SIERRA.
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE FOUNDATION AWARDED 69 SCHOLARSHIPS IN THE FALL AND SPRING SEMSETERS. OVER 678 STUDENTS HAVE RECEIVED SCHOLARSHIPS SINCE THE PROGRAM WAS STARTED.THE FOUNDATION CONTINUES TO WORK WITH COMMUNITY ORGANIZATIONS AND THE COLLEGE AS TO FUTURE LAND USE AND FACILITIES. THE NEXT PROJECT THE COMMUNITY WOULD LIKE TO SEE DEVELOPED IS A CULTURAL CENTER, EXPANDED THEATER, AND NEW ARTS PROGRAMS. PLANNING AND VISIONING IS WHY WE HAVE A COLLEGE IN MAMMOTH LAKES. IT IS ESSENTIAL TO CONTINUE THIS PROCESS WHICH OFTEN TAKES YEARS BEFORE THE NEXT PROJECT CAN BECOME A REALITY.
THE MAMMOTH LAKES FOUNDATION AWARDED 69 SCHOLARSHIPS FOR THE 2020-21 ACADEMIC YEAR TO LOCAL STUDENTS ATTENDING CERRO COSO COMMUNITY COLLEGE, MAMMOTH LAKES CAMPUS. OVER 678 STUDENTS HAVE RECEIVED SCHOLARSHIPS SINCE THE PROGRAMS INCEPTION. TODAY, THE FOUNDATION PROVIDES FULL-TUITION SCHOLARSHIPS AND A BOOK STIPEND EACH SEMESTER TO LOCAL STUDENTS OF ALL AGES ENROLLED AT CERRO COSO. STUDENTS ENROLLED IN A LICENSED VOCATIONAL NURSING PROGRAM REQUIRING TRAVEL ALSO RECEIVE GAS CARDS TO HELP OFFSET THAT EXPENSE. THE MAMMOTH LAKES FOUNDATION ALSO PROVIDES ACADEMIC SUPPORT, MENTORING, PEER SUPPORT, AND OTHER OPPORTUNITIES TO ITS STUDENTS INCLUDING PARTIAL HOUSING SCHOLARSHIPS FOR ELIGIBLE STUDENTS RESIDING IN THE SOUTH GATEWAY APARTMENTS ADJACENT TO THE CAMPUS. THE MAMMOTH LAKES FOUNDATION ALSO ADMINISTERS ACADEMIC SCHOLARSHIPS AWARDED TO LOCAL HIGH SCHOOL STUDENTS BY THE TERRY PLUM FAMILY.
CURRENTLY, THE SKI MUSEUM HAS LIMITED EXHIBITS AS MOST OF THE EXHIBIT SPACE HAS BEEN CONVERTED TO THEATER USE. TWO ROOMS DISPLAY OLD MAMMOTH LAKES PHOTOS AND ONE TELLS A STORY ABOUT HOW THE AREA WAS DEVELOPED.
Get More from Intellispect for FreeCreate a free account to get more data, nonprofit salaries, advanced search and more.
Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Elizabeth Truax Executive Dir. | Trustee | 40 | $75,600 |
Gary Mccoy President | OfficerTrustee | 1 | $0 |
Gary Myers Member | OfficerTrustee | 1 | $0 |
Shields Richardson Secretary/treas | OfficerTrustee | 1 | $0 |
Luan Mendel Board Chair | OfficerTrustee | 1 | $0 |
Lois Klein Member | OfficerTrustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $1,623,050 |
| Noncash contributions included in lines 1a–1f | $32,418 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $1,623,050 |
| Total Program Service Revenue | $4,212 |
| Investment income | $56,621 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $53,250 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | $13,711 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | -$2,874 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $1,747,970 |
| 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 | $81,678 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $75,600 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $40,517 |
| 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 | $0 |
| Fees for services: Other | $28,203 |
| Advertising and promotion | $0 |
| Office expenses | $19,105 |
| Information technology | $0 |
| Royalties | $1,785 |
| Occupancy | $53,122 |
| Travel | $0 |
| 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 | $37,054 |
| Insurance | $37,663 |
| All other expenses | $1,272 |
| Total functional expenses | $422,825 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $1,838,081 |
| Savings and temporary cash investments | $1,566,859 |
| Pledges and grants receivable | $525,000 |
| Accounts receivable, net | $10,686 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $16,367 |
| Prepaid expenses and deferred charges | $6,770 |
| Net Land, buildings, and equipment | $2,259,003 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $3,143,457 |
| Total assets | $9,366,223 |
| Accounts payable and accrued expenses | $24,989 |
| Grants payable | $0 |
| Deferred revenue | $424,300 |
| 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 | $11,042 |
| Total liabilities | $460,331 |
| Net assets without donor restrictions | $7,228,679 |
| Net assets with donor restrictions | $1,677,213 |
| 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 | $9,366,223 |