Legacy Cellar Foundation
- Assets
- $383.4k
- Revenue
- $593.3k
- Investments
- $0.0
- Employees
- 0
- Location
- Laguna Hills, CA
- Founding
- 01/2020
- Data as of
- 12/2021
- EIN
- 84-3243945
Organization Overview
Legacy Cellar Foundation is located in Laguna Hills, CA. The organization was established in 2020. According to its NTEE Classification (T31) the organization is classified as: Community 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. Legacy Cellar Foundation is a 501(c)(3) and as such, is described as a "Charitable or Religous organization or a private foundation" by the IRS.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2021
Describe the Organization's Mission:
Part 3 - Line 1
OUR MISSION IS TO CONVERT WINE COLLECTIONS INTO CHARITABLE DONATIONS BRINGING A PREVIOUSLY UNTAPPED SOURCE OF FUNDING TO THE PHILANTHROPIC SECTOR, ENABLING GREATER POSITIVE IMPACT AND ENSURING CURATED WINE COLLECTIONS WILL BE ENJOYED BY FUTURE ENTHUSIASTS.
Describe the Organization's Program Activity:
Part 3 - Line 4a
UNIVERSITY OF WASHINGTON
THE LEGACY CELLAR FOUNDATION
UNIVERSITY OF BERKELEY SCHOOL OF ECONOMICS
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Garth Hodgdon Director | Trustee | 40 | $125,960 |
Jeffrey Cova CFO | Officer | 1 | $0 |
James Luce President | Officer | 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 | $593,324 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $593,324 |
| Total Program Service Revenue | $0 |
| Investment income | $0 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $593,324 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $170,758 |
| Grants and other assistance to domestic individuals. | $0 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $120,000 |
| Compensation of current officers, directors, key employees. | $20,000 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $5,960 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $25,816 |
| Fees for services: Management | $100,000 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $6,290 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $7,483 |
| Office expenses | $1,110 |
| Information technology | $1,771 |
| Royalties | $0 |
| Occupancy | $24,000 |
| Travel | $8,322 |
| 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 | $0 |
| Insurance | $0 |
| All other expenses | $1,359 |
| Total functional expenses | $510,163 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $383,367 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $0 |
| 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 | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $383,367 |
| Accounts payable and accrued expenses | $153,478 |
| 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 | $153,478 |
| Net assets without donor restrictions | $229,889 |
| Net assets with donor restrictions | $0 |
| 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 | $383,367 |
Grants Awarded
Over the last fiscal year, Legacy Cellar Foundation has awarded $170,758 in support to 3 organizations.
| Grant Recipient | Amount |
|---|---|
Seattle, WA PURPOSE: University of Washington | $102,699 |
UNIVERSITY OF BERKELEY | | | $56,012 |
Basalt, CO | | $12,047 |
Grants Recieved
Over the last fiscal year, we have identified 2 grants that Legacy Cellar Foundation has recieved totaling $425,000.
| Awarding Organization | Amount |
|---|---|
Goldman Sachs Philanthropy Fund New York, NY PURPOSE: COMMUNITY & HUMAN SERVICES | $400,000 |
Chuck And Ernestina Kreutzkamp Foundation Chula Vista, CA PURPOSE: CONVERT WINE COLLECTIONS INTO CHARITABLE DONATIONS | $25,000 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Arizona Community Foundation Phoenix, AZ | $1,066,072,012 | $211,703,650 |
Hawaii Community Foundation Honolulu, HI | $884,612,842 | $128,317,869 |
Ventura County Community Foundation Camarillo, CA | $181,940,704 | $53,185,473 |
Santa Barbara Foundation Santa Barbara, CA | $456,585,072 | $53,590,434 |
The San Bruno Community Foundation San Bruno, CA | $57,381,282 | $2,122,835 |
Community Foundation For Monterey County Monterey, CA | $347,659,194 | $59,371,913 |
Community Foundation Santa Cruz County Aptos, CA | $201,628,792 | $52,106,005 |
Nevada Community Foundation Inc Las Vegas, NV | $244,409,532 | $23,282,106 |
Liberty Hill Foundation Los Angeles, CA | $22,845,623 | $26,116,303 |
Sacramento Region Community Foundation Sacramento, CA | $172,758,711 | $24,599,020 |
Inland Empire Community Foundation Riverside, CA | $130,560,827 | $28,925,228 |
Community Foundation Sonoma County Santa Rosa, CA | $227,314,167 | $31,190,414 |