Reinvent Stockton Foundation
- Assets
- $35.0m
- Revenue
- $2.9m
- Investments
- $0.0
- Employees
- 21
- Location
- Stockton, CA
- Founding
- 09/2017
- Data as of
- 12/2022
- EIN
- 82-1005719
Organization Overview
Reinvent Stockton Foundation, operating under the name Stockton Scholars, is located in Stockton, CA. The organization was established in 2017. According to its NTEE Classification (S20) the organization is classified as: Community & Neighborhood Development, under the broad grouping of Community Improvement & Capacity Building and related organizations. As of 12/2022, Stockton Scholars employed 21 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Stockton Scholars 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 12/2022, Stockton Scholars generated $2.9m in total revenue. This represents a relatively dramatic decline in revenue. Over the past 6 years, the organization has seen revenues fall by an average of (5.6%) each year. All expenses for the organization totaled $11.1m during the year ending 12/2022. You can explore the organizations financials more deeply in the financial statements section below.
Since 2018, Stockton Scholars has awarded 92 individual grants totaling $14,588,922. 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.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2022
Describe the Organization's Mission:
Part 3 - Line 1
TO IMPROVE THE QUALITY OF LIFE FOR THE RESIDENTS OF THE CITY OF STOCKTON, CALIFORNIA, AND TO RE-CREATE STOCKTON INTO A COMMUNITY OF OPPORTUNITY AND HOPE FOR ITS CITIZENS, ESPECIALLY ITS YOUTH, THROUGH THE SPONSORSHIP AND FUNDING OF PROGRAMS SPECIFICALLY DESIGNED TO PROMOTE THE REDEVELOPMENT OF THE BLIGHTED AREAS OF, AND TO ATTRACT OUTSIDE INVESTMENT INTO THE STOCKTON COMMUNITY.
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE STOCKTON EMPOWERMENT DEMONSTRATION (SEED) WAS BORN OUT OF THE SIMPLE BELIEF THAT THE BEST INVESTMENTS WE CAN MAKE ARE IN OUR PEOPLE. SEED SEEKS TO INVEST IN OUR PEOPLE THROUGH GUARANTEED INCOME GRANTS. THIS INCOME IS UNCONDITIONAL, MEANING THERE ARE NO STRINGS ATTACHED AND NO WORK REQUIREMENTS. A HAND UP, RATHER THAN A HAND OUT, SEED SEEKS TO EMPOWER ITS RECIPIENTS FINANCIALLY AND TO PROVE TO SUPPORTERS AND SKEPTICS ALIKE THAT POVERTY RESULTS FROM A LACK OF CASH, NOT CHARACTER. BUILDING OFF OF SEED AND ROOTED IN DR. MARTIN LUTHER KING'S LEGACY, MAYORS FOR A GUARANTEED INCOME (MGI) IS A NATIONAL NETWORK OF CITY LEADERS UNITED TO ADVOCATE FOR A GUARANTEED INCOME - DIRECT, RECURRING CASH PAYMENTS - THAT LIFTS ALL OF OUR COMMUNITIES, BUILDING A RESILIANT, JUST AMERICA. IN 2022 WE GAVE OUT 23 GUARANTEED INCOME GRANTS.
THE STOCKTON SERVICE CORPS (SSC) IS A PROJECT WHICH AIMS TO HARNESS AMERICORPS FELLOWSHIP SERVICE MODELS TO IMPROVE EDUCATIONAL OUTCOMES AND ADDRESS SOCIAL INEQUITIES IN STOCKTON. THE SSC TEAM AT RSF PRIMARILY WORKS TO COORDINATE AMERICORPS HOST ORGANIZATIONS AND COMMUNITY PARTNERS, CONNECT THEM TO RESOURCES, AND FACILITATE PARTNERSHIPS IN ORDER TO CREATE A COMMUNITY OF COLLECTIVE IMPACT.SUMMER OF SERVICE IS A SUMMER INTERNSHIP PROGRAM THAT SUPPORTS COLLEGE STUDENTS AND OTHER YOUNG PEOPLE IN ACCESSING PUBLIC SERVICE OPPORTUNITIES. 2,700 PEOPLE WERE SERVED IN 2022.
STOCKTON SCHOLARS AIMS TO DRAMATICALLY INCREASE THE NUMBER OF STOCKTON STUDENTS WHO ENTER AND COMPLETE HIGHER EDUCATION WITHIN THE NEXT 10 YEARS. WE PURSUE THIS VISION THROUGH A PLACE-BASED, GUARANTEED SCHOLARSHIP FOR STOCKTON PUBLIC SCHOOL KIDS STARTING WITH THE CLASS OF 2019; TARGETED SUPPORT THROUGH THE COLLEGE APPLICATION PROCESS; AND HOSTING EVENTS AND CAMPAIGNS THAT BUILD A CITY-WIDE COLLEGE-GOING CULTURE, INCLUDING STOCKTON SCHOLARS SIGNING DAY. 1,432 SCHOLARSHIPS WERE AWARDED IN 2022.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Michael D Tubbs Chair | OfficerTrustee | 40 | $197,399 |
Christy Wise Vice-Chair | OfficerTrustee | 2 | $0 |
Cindy Foster Secretary | OfficerTrustee | 2 | $0 |
Michael P Duffy Director | Trustee | 2 | $0 |
Chistie Marchese Director | Trustee | 2 | $0 |
Natalia Orfanos Director | Trustee | 2 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Trustee Of The University Of Pennsylvani Research | 12/30/22 | $1,184,300 |
Saadia Van Winkle Research | 12/30/22 | $107,181 |
Abraham Rakov Raycove Consulting Llc Research | 12/30/22 | $139,470 |
Abt Associates Research | 12/30/22 | $481,926 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $159,697 |
| All other contributions, gifts, grants, and similar amounts not included above | $3,249,388 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $3,409,085 |
| Total Program Service Revenue | $0 |
| Investment income | $482,497 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | -$950,946 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $2,940,636 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $4,537,487 |
| Grants and other assistance to domestic individuals. | $1,287,627 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $562,119 |
| Compensation of current officers, directors, key employees. | $28,106 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $1,218,420 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $88,982 |
| Payroll taxes | $128,657 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $150,037 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $2,319,540 |
| Advertising and promotion | $400,615 |
| Office expenses | $232,869 |
| Information technology | $63,595 |
| Royalties | $0 |
| Occupancy | $44,176 |
| Travel | $84,569 |
| 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 | $710 |
| Insurance | $17,764 |
| All other expenses | $980 |
| Total functional expenses | $11,146,892 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $14,280,092 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $970,945 |
| Accounts receivable, net | $84,560 |
| 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 | $0 |
| Net Land, buildings, and equipment | $0 |
| Investments—publicly traded securities | $19,671,902 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $35,007,499 |
| Accounts payable and accrued expenses | $167,653 |
| 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 | $0 |
| Total liabilities | $167,653 |
| Net assets without donor restrictions | $15,593,132 |
| Net assets with donor restrictions | $19,246,714 |
| 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 | $35,007,499 |
Grants Awarded
Over the last fiscal year, Reinvent Stockton Foundation has awarded $4,531,869 in support to 30 organizations.
| Grant Recipient | Amount |
|---|---|
METRO UNITED WAY INC PURPOSE: GUARANTEED INCOME PILOT FOR THAT CITY | $520,000 |
UPTOGETHER PARTNERS PURPOSE: GUARANTEED INCOME PILOT FOR THAT CITY | $492,000 |
MAYOR'S FUND FOR LOS ANGELES PURPOSE: GUARANTEED INCOME PILOT FOR THAT CITY | $500,000 |
HUMAN SERVICES COALITION OF TOMPKINS COUNTY INC PURPOSE: GUARANTEED INCOME PILOT FOR THAT CITY | $500,000 |
FORWARD TOGETHER NEW ORLEANS PURPOSE: GUARANTEED INCOME PILOT FOR THAT CITY | $400,000 |
UNITED WAY OF PIERCE COUNTY PURPOSE: GUARANTEED INCOME PILOT FOR THAT CITY | $335,500 |