Susan & Bruce Worster Foundation
- Assets
- $4.3m
- Revenue
- $225.4k
- Investments
- $4.2m
- Employees
- 0
- Location
- Montecito, CA
- Founding
- 05/2001
- Data as of
- 12/2023
- EIN
- 77-0549392
Organization Overview
Susan & Bruce Worster Foundation is located in Montecito, CA. The organization was established in 2001. According to its NTEE Classification (T21) the organization is classified as: Corporate 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. Susan & Bruce Worster 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 12/2023, Susan & Bruce Worster Foundation generated $225.4k in total revenue. This represents relatively stable growth, over the past 6 years the organization has increased revenue by an average of 2.8% each year. All expenses for the organization totaled $346.2k during the year ending 12/2023. You can explore the organizations financials more deeply in the financial statements section below.
Since 2015, Susan & Bruce Worster Foundation has awarded 34 individual grants totaling $1,732,316. 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 |
|---|---|---|---|
Bruce Worster President | 1 | $0 | |
Susan Worster Secretary | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $113,616 |
| Interest on Savings | $41,695 |
| Dividends & Interest | $72,389 |
| Net Rental Income | $0 |
| Net Gain on Sale of Assets | -$18,903 |
| Capital Gain Net Income | $0 |
| Net ST Capital Gain | $0 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $0 |
| Other Income | $16,644 |
| Total Revenue | $225,441 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $0 |
| Other employee salaries and wages | $0 |
| Pension plans, employee benefits | $0 |
| Interest | $0 |
| Taxes | $1,692 |
| Depreciation | $0 |
| Occupancy | $0 |
| Travel, conferences, and meetings | $0 |
| Printing and publications | $0 |
| Other expenses | $26,381 |
| Total operating and administrative expenses | $44,723 |
| Contributions, gifts, grants paid | $301,505 |
| Total expenses and disbursements | $346,228 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $159,544 |
| 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 | $0 |
| Investments—mortgage loans | $0 |
| Investments—other | $130,000 |
| Net Land, buildings, and equipment | $0 |
| Other assets | $8,048 |
| Total assets | $4,326,106 |
| 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, Susan & Bruce Worster Foundation has awarded $301,505 in support to 11 organizations.
| Grant Recipient | Amount |
|---|---|
HARVEY MUDD COLLEGE PURPOSE: GENERAL USE | $80,005 |
OCCIDENTAL COLLEGE PURPOSE: GENERAL USE | $1,000 |
REGENTS OF THE UNIVERSITY OF CA PURPOSE: GENERAL USE | $105,000 |
J PAUL GETTY TRUST PURPOSE: GENERAL USE | $2,500 |
SANTA BARBARA MUSEUM OF ART PURPOSE: GENERAL USE | $70,000 |
SANTA BARBARA MUSEUM OF NATURAL HISTORY PURPOSE: GENERAL USE | $10,000 |