Lone Rock Foundation
- Assets
- $91.4m
- Revenue
- $1.8m
- Investments
- $0.0
- Employees
- 0
- Location
- Santa Cruz, CA
- Founding
- 05/2019
- Data as of
- 12/2022
- EIN
- 83-2437632
Organization Overview
Lone Rock Foundation is located in Santa Cruz, CA. The organization was established in 2019. According to its NTEE Classification (T23) the organization is classified as: Private Operating 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. Lone Rock 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 12/2022, Lone Rock Foundation generated $1.8m in total revenue. This represents a relatively dramatic decline in revenue. Over the past 4 years, the organization has seen revenues fall by an average of (38.9%) each year. All expenses for the organization totaled $6.8m during the year ending 12/2022. 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
2022
Describe the Organization's Program Activity:
Part 3 - Line 4a
HOST EDUCATIONAL EVENTS, MEETINGS, CONFERENCES, AND RETREATS FOR SECTION 501(C)(3) ORGANIZATIONS BUT PRIORITIZING THE ORGANIZATIONS THAT SUPPORT EDUCATION.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Wilmont Hastings President | 1 | $0 | |
Kevin Hall Secretary | 1 | $0 | |
Kim Smith Treasurer | 1 | $0 | |
Kriste Dragon Director | 1 | $0 | |
Carmen Loturco General Manager | 50 | $202,229 | |
Randa Huleis Director Of Operatio | 40 | $150,242 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $0 |
| Interest on Savings | $702 |
| Dividends & Interest | $46 |
| Net Rental Income | $379,982 |
| Net Gain on Sale of Assets | $0 |
| Capital Gain Net Income | $0 |
| Net ST Capital Gain | $0 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $18,224 |
| Other Income | $2,345 |
| Total Revenue | $1,818,931 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $0 |
| Other employee salaries and wages | $1,887,573 |
| Pension plans, employee benefits | $309,971 |
| Interest | $0 |
| Taxes | $0 |
| Depreciation | $2,323,236 |
| Occupancy | $1,441,606 |
| Travel, conferences, and meetings | $13,789 |
| Printing and publications | $5,207 |
| Other expenses | $689,588 |
| Total operating and administrative expenses | $6,802,122 |
| Contributions, gifts, grants paid | $42,000 |
| Total expenses and disbursements | $6,844,122 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $930,056 |
| Net Accounts receivable | $1,534,071 |
| 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 | $24,294 |
| Net Investments - land, buildings, equipment | $0 |
| Investments—mortgage loans | $0 |
| Investments—other | $0 |
| Net Land, buildings, and equipment | $88,868,489 |
| Other assets | $33,734 |
| Total assets | $91,390,644 |
| Accounts payable and accrued expenses | $220,606 |
| Grants payable | $0 |
| Deferred revenue | $1,834,475 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Mortgages and other notes payable | $0 |
| Other liabilities | $28,654 |
| Total liabilities | $2,083,735 |
Grants Awarded
Over the last fiscal year, Lone Rock Foundation has awarded $42,000 in support to 2 organizations.
| Grant Recipient | Amount |
|---|---|
PLATTE CANYON FIRE DEPARTMENT PURPOSE: GENERAL SUPPORT | $40,000 |
BAILEY THEATRE COMPANY PURPOSE: GENERAL SUPPORT | $2,000 |