Carina Initiatives Inc
- Assets
- $25.1m
- Revenue
- $20.3m
- Investments
- $3.0m
- Employees
- 0
- Location
- Torrance, CA
- Founding
- Data as of
- 11/2023
- EIN
- 85-0909048
Organization Overview
Carina Initiatives Inc is located in Torrance, CA. According to its NTEE Classification (T20) the organization is classified as: Private Grantmaking 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. Carina Initiatives Inc 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 11/2023, Carina Initiatives Inc generated $20.3m in total revenue. This organization has experienced exceptional growth, as over the past 3 years, it has increased revenue by an average of 20.9% each year . All expenses for the organization totaled $10.5m during the year ending 11/2023. While expenses have increased by 20.7% 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, Carina Initiatives Inc has awarded 85 individual grants totaling $21,561,120. 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.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Josh Taylor President | 40 | $0 | |
Jennifer Reynoso Secretary | 5 | $0 | |
Melissa Vitek Treasurer | 40 | $220,731 | |
Fred Taylor Director | 1 | $0 | |
John Taylor Director | 1 | $0 | |
Jacob Taylor Director To Dec 12, 2022 | 1 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Meaningful Media Limited | 11/29/23 | $102,345 |
Joseph Mansfield | 11/29/23 | $80,063 |
Giant Light Studios Llc | 11/29/23 | $61,800 |
Paul Dancstep | 11/29/23 | $60,000 |
Draknek Limited | 11/29/23 | $84,000 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $18,500,000 |
| Interest on Savings | $689,775 |
| Dividends & Interest | $0 |
| Net Rental Income | $0 |
| Net Gain on Sale of Assets | $0 |
| Capital Gain Net Income | $0 |
| Net ST Capital Gain | $0 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $0 |
| Other Income | $1,125,811 |
| Total Revenue | $20,315,586 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $243,689 |
| Other employee salaries and wages | $625,454 |
| Pension plans, employee benefits | $126,903 |
| Interest | $0 |
| Taxes | $1,780 |
| Depreciation | $23,433 |
| Occupancy | $147,403 |
| Travel, conferences, and meetings | $39,300 |
| Printing and publications | $0 |
| Other expenses | $770,520 |
| Total operating and administrative expenses | $2,945,270 |
| Contributions, gifts, grants paid | $7,561,145 |
| Total expenses and disbursements | $10,506,415 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $711,184 |
| Savings and temporary cash investments | $15,884,386 |
| 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 | $2,072,833 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $139,545 |
| Net Investments - land, buildings, equipment | $0 |
| Investments—mortgage loans | $0 |
| Investments—other | $3,000,000 |
| Net Land, buildings, and equipment | $95,595 |
| Other assets | $3,231,391 |
| Total assets | $25,134,934 |
| Accounts payable and accrued expenses | $132,896 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Mortgages and other notes payable | $0 |
| Other liabilities | $503,726 |
| Total liabilities | $636,622 |
Grants Awarded
Over the last fiscal year, Carina Initiatives Inc has awarded $7,561,145 in support to 27 organizations.
| Grant Recipient | Amount |
|---|---|
9 DOTS COMMUNITY LEARNING CENTER PURPOSE: ENTITY SUPPORT | $850,000 |
ADDISCODER INC PURPOSE: ENTITY SUPPORT | $110,000 |
AOPS INCORPORATED PURPOSE: ENTITY SUPPORT | $441,019 |
ATHEMATH PURPOSE: ENTITY SUPPORT | $5,000 |
CALIFORNIA INSTITUTE OF TECHNOLOGY PURPOSE: UNIVERSITY PROGRAM | $200,000 |
BRILLIANT WORLDWIDE INC PURPOSE: ENTITY SUPPORT | $187,750 |