Kreston Samiel Elliot Family Foundation
- Assets
- $4.5m
- Revenue
- $1.9m
- Investments
- $2.9m
- Employees
- 0
- Location
- Sacramento, CA
- Founding
- 03/2017
- Data as of
- 05/2023
- EIN
- 81-2788883
Organization Overview
Kreston Samiel Elliot Family Foundation is located in Sacramento, 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. Kreston Samiel Elliot Family 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 05/2023, Kreston Samiel Elliot Family Foundation generated $1.9m in total revenue. This organization has experienced exceptional growth, as over the past 5 years, it has increased revenue by an average of 15.0% each year . All expenses for the organization totaled $60.9k during the year ending 05/2023. You can explore the organizations financials more deeply in the financial statements section below.
Form
990PF
Mission & Program ActivityExcerpts From the 990PF Filing
TAX YEAR
2023
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE ORGANIZATION AVERAGED 6 SCHEDULED MEETINGS PER MONTH PLUS UNSCHEDULED MEETINGS AS NEEDED FOR INDIVIDUAL EDUCATION. THE ORGANIZATION HAS STAYED CONNECTED WITH THEIR ACTIVITY PARTNERS TO DISCUSS OPTION AND VENUES TO CONTINUE CHARITABLE SERVICES.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Marvin Tom President/treasurer | 25 | $0 | |
Sophia Tom Secretary/director | 25 | $0 | |
Kreston Tom Director | 1 | $0 | |
Samiel Tom Director | 1 | $0 | |
Elliot Tom Director | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $0 |
| Interest on Savings | $139,837 |
| Dividends & Interest | $0 |
| Net Rental Income | $56,181 |
| Net Gain on Sale of Assets | $1,732,919 |
| Capital Gain Net Income | $1,732,919 |
| Net ST Capital Gain | $0 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $0 |
| Other Income | $2,240 |
| Total Revenue | $1,931,177 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $0 |
| Other employee salaries and wages | $0 |
| Pension plans, employee benefits | $0 |
| Interest | $0 |
| Taxes | $20,232 |
| Depreciation | $0 |
| Occupancy | $0 |
| Travel, conferences, and meetings | $1,252 |
| Printing and publications | $2 |
| Other expenses | $31,363 |
| Total operating and administrative expenses | $60,913 |
| Contributions, gifts, grants paid | $0 |
| Total expenses and disbursements | $60,913 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $788,098 |
| Savings and temporary cash investments | $0 |
| 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 | $798,385 |
| Investments—mortgage loans | $2,392,813 |
| Investments—other | $500,000 |
| Net Land, buildings, and equipment | $0 |
| Other assets | $0 |
| Total assets | $4,479,296 |
| Accounts payable and accrued expenses | $850 |
| Grants payable | $0 |
| Deferred revenue | $25,000 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Mortgages and other notes payable | $0 |
| Other liabilities | $0 |
| Total liabilities | $25,850 |
Grants Awarded
Over the last fiscal year, Kreston Samiel Elliot Family Foundation has awarded $115,900 in support to 2 organizations.
| Grant Recipient | Amount |
|---|---|
FIDELITY CHARITABLE PURPOSE: COMMUNITYSERVICES | $115,000 |
GRACE POINT CHURCH PURPOSE: COMMUNITYSERVICES | $900 |