Sonoma County Economic Development Board Foundation
- Assets
- $2.0m
- Revenue
- $156.4k
- Investments
- $0.0
- Employees
- 0
- Location
- Santa Rosa, CA
- Founding
- 01/2002
- Data as of
- 06/2022
- EIN
- 94-3397043
Organization Overview
Sonoma County Economic Development Board Foundation is located in Santa Rosa, CA. The organization was established in 2002. 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. Sonoma County Economic Development Board 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 06/2022, Sonoma County Economic Development Board Foundation generated $156.4k in total revenue. This represents a relatively dramatic decline in revenue. Over the past 7 years, the organization has seen revenues fall by an average of (10.4%) each year. All expenses for the organization totaled $180.3k during the year ending 06/2022. As we would expect to see with falling revenues, expenses have declined by (5.6%) per year over the past 7 years. You can explore the organizations financials more deeply in the financial statements section below.
Since 2018, Sonoma County Economic Development Board Foundation has awarded 13 individual grants totaling $389,000. 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
TO SUPPORT SONOMA COUNTY'S ECONOMIC DEVELOPMENT BOARD PROGRAMS
Describe the Organization's Program Activity:
Part 3 - Line 4a
CREATIVE SONOMA - THE CREATIVE SONOMA PROGRAM WORKED WITH SEVERAL ENTITIES TO DRAFT A NEW CREATIVE SONOMA BUSINESS PLAN, BASED ON FEEDBACK FROM THE CREATIVE COMMUNITY, AND BEGAN IMPLEMENTING KEY RECOMMENDATIONS INCLUDING WORK IN ARTS EDUCATION. IN ADDITION, THE PROGRAM CREATED TWO NEW REPORTS - A COVID-19 IMPACT REPORT AND A PUBLIC ART PROGRAM COMPARISON AND ANALYSIS. THESE ACTIVITIES WERE FULLY OR PARTIALLY COVERED THROUGH GRANTS RECEIVED BY THE FOUNDATION, WHICH FUNDED PROGRAM EXPENSES AND STAFF COSTS.
TIPPING POINT NORTH BAY FIRE RELIEFTHE EMERGENCY RELIEF FUND GRANT FROM TIPPING POINT COMMUNITY IS BEING PROVIDED TO THE SANTA ROSA JUNIOR COLLEGE TO PARTIALLY FUND A CONSTRUCTION TRAINING CENTER. THE PRIMARY PURPOSE OF THE CENTER IS TO INCREASE WORKFORCE FOR REBUILDING AFTER THE 2017 FIRES, INCLUDING LOW-INCOME RESIDENTS IMPACTED BY THE WILDFIRES. EXPENSES REPRESENT A PORTION OF THE INITIAL START-UP COSTS FOR THE PROJECT.
RESEARCH INITIATIVES - THIS PROGRAMS FUNDED BUSINESS DEVELOPMENT TOOLS TO HELP LOCAL BUSINESSES RECOGNIZE CURRENT INDUSTRY TRENDS, FIND NEW TARGET MARKETS AND CUSTOMER BASES, AND RESEARCH SITE SELECTION DATA. SPONSOR-SUPPORTED FUNDING ALLOWS THESE REPORTS TO BE OFFERED FREE OF CHARGE TO LOCAL BUSINESSES.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
S Person-Whitley - Resigned Ed/secretary | OfficerTrustee | 1 | $0 |
K Hecht Chair | OfficerTrustee | 1 | $0 |
W Leach Vice Chair | OfficerTrustee | 1 | $0 |
J Alcazar Treasurer | OfficerTrustee | 1 | $0 |
E Brown Ed/secretary | OfficerTrustee | 1 | $0 |
J Kivelstadt Member | Trustee | 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 | $129,790 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $129,790 |
| Total Program Service Revenue | $24,757 |
| Investment income | $1,829 |
| 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 | $156,376 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $51,900 |
| 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. | $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 | $512 |
| Fees for services: Accounting | $11,785 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $34,781 |
| Advertising and promotion | $500 |
| Office expenses | $4,482 |
| Information technology | $32,023 |
| 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 | $9,475 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $0 |
| All other expenses | $0 |
| Total functional expenses | $180,304 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $390,077 |
| Savings and temporary cash investments | $1,578,069 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $8,900 |
| 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 | $1,977,046 |
| Accounts payable and accrued expenses | $53,848 |
| Grants payable | $0 |
| Deferred revenue | $14,500 |
| 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 | $68,348 |
| Net assets without donor restrictions | $473,961 |
| Net assets with donor restrictions | $1,434,737 |
| 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 | $1,977,046 |
Grants Awarded
Over the last fiscal year, Sonoma County Economic Development Board Foundation has awarded $269,000 in support to 3 organizations.
| Grant Recipient | Amount |
|---|---|
COMMUNITY FDN OF SONOMA CO PURPOSE: support creative agencies | $39,000 |
ECONOMIC DEV & FINANCING CO PURPOSE: loans to small business owners | $200,000 |
COUNTY OF SONOMA - PURPOSE: support creative agencies | $30,000 |