College Futures Foundation
- Assets
- $607.4m
- Revenue
- $89.0m
- Investments
- $578.1m
- Employees
- 0
- Location
- Oakland, CA
- Founding
- 09/1990
- Data as of
- 12/2021
- EIN
- 94-2618667
Organization Overview
College Futures Foundation is located in Oakland, CA. The organization was established in 1990. According to its NTEE Classification (W60) the organization is classified as: Financial Institutions, under the broad grouping of Public & Societal Benefit and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. College Futures 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 12/2021, College Futures Foundation generated $89.0m in total revenue. This organization has experienced exceptional growth, as over the past 4 years, it has increased revenue by an average of 31.7% each year . All expenses for the organization totaled $29.3m during the year ending 12/2021. While expenses have increased by 6.4% per year over the past 4 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, College Futures Foundation has awarded 438 individual grants totaling $52,299,307. 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
990T
Mission & Program ActivityExcerpts From the 990T Filing
TAX YEAR
2021
Describe the Organization's Program Activity:
TO SUPPORT CONSULTING, RESEARCH, AND MEETING COSTS FOR THE GOVERNOR'S COUNCIL FOR POST-SECONDARY EDUCATION AND RECOVERY WITH EQUITY TASKFORCE.
TO SUPPORT CONSULTING, RESEARCH, EVALUATION, AND CONVENING COSTS TO FURTHER THE GOALS OF THE FINANCE & AFFORDABILITY STRATEGY.
INTERNAL STAFF TIME DEDICATED TO 1) OVERSEEING THE DEVELOPMENT AND ANALYSIS OF ISSUES AND OPTIONS FOR FINANCING PUBLIC HIGHER EDUCATION, 2) SUPPORTING THE GOVERNOR'S COUNCIL FOR POST-SECONDARY EDUCATION AND RECOVERY WITH EQUITY TASKFORCE, AND 3) SUPPORTING STRATEGIC COMMUNICATIONS ACTIVITIES UNDER THE FOUNDATION'S PUBLIC ENGAGEMENT AND INFLUENCE PLAN TO ADVANCE EQUITY IN B.A. COMPLETION AND SOCIOECONOMIC MOBILITY.
TO SUPPORT CONSULTING, PROJECT MANAGEMENT, EVALUATION, AND CONVENINGS RELATED TO IMPLEMENTATION OF THE STUDENT-CENTRIC PRACTICES STRATEGY.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Monica Lozano President/ceo, Board Member Ex-Officio | 37.5 | $498,074 | |
Phillippe Wallace CFO & Treasurer | 37.5 | $369,031 | |
Elizabeth Gonzalez Chief Program And St | 37.5 | $290,462 | |
Krysten Curtis Director Of Finance | 37.5 | $249,376 | |
Shawn Whalen Program Director | 37.5 | $196,964 | |
Ria Bhatt Director Of Public P | 37.5 | $174,318 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Spitfire Strategies | 12/30/21 | $240,853 |
Melinda Jane Mechur Karp | 12/30/21 | $236,000 |
Education First | 12/30/21 | $213,150 |
Alza Strategies | 12/30/21 | $116,463 |
Burr Pilger Mayer | 12/30/21 | $100,213 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $5,000,000 |
| Interest on Savings | $3,470 |
| Dividends & Interest | $4,651,780 |
| Net Rental Income | $0 |
| Net Gain on Sale of Assets | $73,030,014 |
| Capital Gain Net Income | $71,710,651 |
| Net ST Capital Gain | $0 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $0 |
| Other Income | $6,332,262 |
| Total Revenue | $89,017,526 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $1,079,414 |
| Other employee salaries and wages | $2,566,002 |
| Pension plans, employee benefits | $952,263 |
| Interest | $0 |
| Taxes | $1,606,555 |
| Depreciation | $307,339 |
| Occupancy | $483,370 |
| Travel, conferences, and meetings | $16,367 |
| Printing and publications | $0 |
| Other expenses | $2,242,267 |
| Total operating and administrative expenses | $9,448,081 |
| Contributions, gifts, grants paid | $19,837,738 |
| Total expenses and disbursements | $29,285,819 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $8,848,747 |
| Savings and temporary cash investments | $0 |
| Net Accounts receivable | $17,502,791 |
| Net Pledges Receivable | $0 |
| Grants receivable | $0 |
| Receivables from Officers, Directors, or Controlling Persons | $0 |
| Net other notes and loans receivable | $51,734 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $157,561 |
| Net Investments - land, buildings, equipment | $0 |
| Investments—mortgage loans | $0 |
| Investments—other | $578,055,729 |
| Net Land, buildings, and equipment | $1,715,598 |
| Other assets | $1,082,065 |
| Total assets | $607,414,225 |
| Accounts payable and accrued expenses | $1,914,739 |
| Grants payable | $8,648,141 |
| Deferred revenue | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Mortgages and other notes payable | $0 |
| Other liabilities | $2,153,852 |
| Total liabilities | $12,716,732 |
Grants Awarded
Over the last fiscal year, College Futures Foundation has awarded $26,821,400 in support to 216 organizations.
| Grant Recipient | Amount |
|---|---|
Boston, MA PURPOSE: POLICY PROGRAM GRANT | $1,550,000 |
Sacramento, CA PURPOSE: STUDENT-CENTRIC PRACTICES PROGRAM GRANT | $1,225,000 |
Sacramento, CA PURPOSE: LEADERSHIP PROGRAM GRANT | $788,750 |
GROWING INLAND ACHIEVEMENT INC PURPOSE: STUDENT-CENTRIC PRACTICES PROGRAM GRANT | $720,000 |
Fresno, CA PURPOSE: STUDENT-CENTRIC PRACTICES PROGRAM GRANT | $687,000 |
Long Beach, CA PURPOSE: STUDENT-CENTRIC PRACTICES PROGRAM GRANT | $670,000 |
Grants Recieved
Over the last fiscal year, we have identified 2 grants that College Futures Foundation has recieved totaling $5,000,000.
| Awarding Organization | Amount |
|---|---|
James Irvine Foundation San Francisco, CA PURPOSE: FOR A PARTNERSHIP WITH COLLEGE FUTURES | $2,500,000 |
James Irvine Foundation San Francisco, CA PURPOSE: FOR A PARTNERSHIP WITH COLLEGE FUTURES | $2,500,000 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Credit Unions In The State Of California Santa Maria, CA | $1,604,476,418 | $68,814,131 |
Helios Education Foundation Phoenix, AZ | $702,121,235 | $21,760,037 |
College Futures Foundation Oakland, CA | $607,414,225 | $89,017,526 |
Beneficial State Foundation Oakland, CA | $119,858,062 | $22,406,818 |
Access To Loans For Learning Student Loan Corporation El Segundo, CA | $475,895,632 | $11,096,332 |
Pacific Pension & Investment Institute San Francisco, CA | $2,414,289 | $2,850,359 |
Fresno Community Development Financial Institution Fresno, CA | $30,883,005 | $9,893,346 |
Hebrew Free Loan Association Of San Francisco San Francisco, CA | $28,447,595 | $4,532,322 |
Nixyaawii Community Financial Services Pendleton, OR | $6,512,348 | $5,830,469 |
Third Party Payment Processors Association Llc Phoenix, AZ | $58,887 | $667,666 |
Nellie Van Schaick 0499039180 Tucson, AZ | $3,154,367 | $194,886 |
Hopi Credit Association Keams Canyon, AZ | $2,594,030 | $382,272 |