Monterra Community Fund
- Assets
- $1.6m
- Revenue
- $12.2m
- Investments
- $0.0
- Employees
- 0
- Location
- Redwood City, CA
- Founding
- Data as of
- 12/2022
- EIN
- 85-0663372
Organization Overview
Monterra Community Fund is located in Redwood City, CA. According to its NTEE Classification (S30) the organization is classified as: Economic Development, under the broad grouping of Community Improvement & Capacity Building and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Monterra Community Fund 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, Monterra Community Fund generated $12.2m in total revenue. This represents relatively stable growth, over the past 3 years the organization has increased revenue by an average of 3.2% each year. All expenses for the organization totaled $12.1m during the year ending 12/2022. While expenses have increased by 4.1% per year over the past 3 years. They've been increasing with an increasing level of total revenue. You can explore the organizations financials more deeply in the financial statements section below.
Since 2020, Monterra Community Fund has awarded 1,451 individual grants totaling $26,188,439. 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
THE SMCU COMMUNITY FUND IS A 501(C)(3) NONPROFIT FUND CREATED BY SAN MATEO CREDIT UNION TO SUPPORT OUR COMMITMENT TO FINANCIAL WELLNESS IN OUR COMMUNITY.
Describe the Organization's Program Activity:
Part 3 - Line 4a
CHILD CARE - THE PURPOSE OF THIS PROGRAM IS TO PROVIDE FUNDING TO SUPPORT CHILD CARE CENTERS AND FAMILY CHILD CARE HOMES. SUPPORT IS DERIVED FROM LOCAL GOVERNMENT AND FOUNDATION CONTRIBUTIONS.
NORTHFAIR OAKS SMALL BUSINESS - THE PURPOSE OF THIS PROGRAM IS TO PROVIDE RELIEF TO SMALL BUSINESSES LOCATED IN THE UNINCORPORATED NORTH FAIR OAKS ZIP CODES THAT HAVE BEEN ADVERSELY AFFECTED BY COVID-19. SUPPORT IS DERIVED FROM LOCAL GOVERNMENT CONTRIBUTIONS.SBG6 - THE PURPOSE OF THIS PROGRAM IS TO PROVIDE RELIEF TO SMALL BUSINESSES LOCATED IN SAN MATEO COUNTY THAT HAVE BEEN ADVERSELY IMPACTED BY COVID-19. SUPPORT IS DERIVED FROM LOCAL GOVERNMENT AND FOUNDATION CONTRIBUTIONS. RESTAURANT RELIEF - THE PURPOSE OF THIS PROGRAM IS TO PROVIDE ASSISTANCE TO RESTAURANTS, BREWERIES, AND WINERIES WHO HAVE BEEN ADVERSELY IMPACTED BY THE COVID-19 PUBLIC HEALTH EMERGENCY. SUPPORT IS DERIVED FROM LOCAL GOVERNMENT, CORPORATE, AND FOUNDATION CONTRIBUTIONS.DALY CITY RESTAURANT AND SMALL BUSINESS THE PURPOSE OF THIS PROGRAM IS TO PROVIDE RELIEF TO SMALL BUSINESSES AND RESTAURANTS LOCATED IN THE CITY OF DALY CITY THAT HAVE BEEN ADVERSELY AFFECTED BY COVID-19. SUPPORT IS DERIVED FROM LOCAL GOVERNMENT CONTRIBUTIONS.MICROFOOD - THE PURPOSE OF THIS PROGRAM IS TO ASSIST MICROENTERPRISE FOOD SERVICE ESTABLISHMENTS LOCATED IN SAN MATEO COUNTY WHO HAVE BEEN ADVERSELY AFFECTED BY COVID-19. SUPPORT IS DERIVED FROM LOCAL GOVERNMENT CONTRIBUTIONS.NON PROFIT - THE PURPOSE OF THIS PROGRAM IS TO SUPPORT NONPROFITS IN SAN MATEO COUNTY. SUPPORT IS DERIVED FROM FOUNDATION CONTRIBUTIONS. DISCRETIONARY - THE PURPOSE OF THIS PROGRAM IS TO PROVIDE DONATIONS TO VARIOUS CAUSES WITHIN THE COMMUNITY. SUPPORT IS DERIVED FROM INDIVIDUAL DONATIONS, THE SMCU COMMUNITY FUND AND THE CREDIT UNION.
SUMMER ENRICHMENT - THE PURPOSE OF THIS PROGRAM IS TO HELP FUND THE EXPANSION OF SUMMER PROGRAMS OF ALL TYPES FOR STUDENTS IN SCHOOL DISTRICTS WITHIN SAN MATEO COUNTY. SUPPORT IS DERIVED FROM LOCAL GOVERNMENT CONTRIBUTIONS.
OUT OF SCHOOL - THE PURPOSE OF THIS PROGRAM IS TO INCREASE THE AVAILABILITY OF OUT OF SCHOOL PROGRAMS FOR SOCIOECONOMICALLY DISADVANTAGED STUDENTS IN SAN MATEO COUNTY. SUPPORT IS DERIVED FROM LOCAL GOVERNMENT CONTRIBUTIONS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Wade Painter President | OfficerTrustee | 1 | $0 |
David Diamond CFO & Treasurer | OfficerTrustee | 1 | $0 |
Valerie Alsip Director | Trustee | 1 | $0 |
Suzanne Knowlton Secretary | OfficerTrustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $12,152,004 |
| All other contributions, gifts, grants, and similar amounts not included above | $31,805 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $12,183,809 |
| Total Program Service Revenue | $0 |
| Investment income | $1,316 |
| 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 | $12,185,125 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $10,359,591 |
| Grants and other assistance to domestic individuals. | $1,702,500 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $0 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $0 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $26,420 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $0 |
| Office expenses | $0 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $0 |
| 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 | $1,635 |
| Total functional expenses | $12,090,546 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $140,000 |
| Savings and temporary cash investments | $1,381,200 |
| Pledges and grants receivable | $31,750 |
| 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 | $1,552,950 |
| Accounts payable and accrued expenses | $0 |
| Grants payable | $160,000 |
| Deferred revenue | $725,000 |
| 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 | $885,000 |
| Net assets without donor restrictions | $667,631 |
| Net assets with donor restrictions | $319 |
| 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 | $1,552,950 |
Grants Awarded
Over the last fiscal year, Monterra Community Fund has awarded $10,067,174 in support to 272 organizations.
| Grant Recipient | Amount |
|---|---|
007 MOTORSPORT PURPOSE: TO PROVIDE ASSISTANCE TO SMALL BUSINESSES | $10,000 |
5TH AVE FAMILY THRIFT- MART PURPOSE: TO PROVIDE ASSISTANCE TO BUSINESSES LOCATED IN NORTH FAIR OAKS, CA | $10,000 |
A & J FORTUNE COMPANY INC PURPOSE: TO PROVIDE ASSISTANCE TO SMALL BUSINESSES | $10,000 |
A PLUS IMMERSION PRESCHOOL PURPOSE: TO PROVIDE ASSISTANCE TO CHILDCARE FACILITIES | $40,000 |
A&S AUTOMOTIVE PURPOSE: TO PROVIDE ASSISTANCE TO BUSINESSES LOCATED IN NORTH FAIR OAKS, CA | $10,000 |
A IMMERSION PRESCHOOL II LLC PURPOSE: TO PROVIDE ASSISTANCE TO CHILDCARE FACILITIES | $55,000 |