Herbst Foundation Inc
- Assets
- $62.1m
- Revenue
- $6.4m
- Investments
- $48.5m
- Employees
- 0
- Location
- Walnut Creek, CA
- Founding
- 04/1963
- Data as of
- 07/2022
- EIN
- 94-6061680
Organization Overview
Herbst Foundation Inc is located in Walnut Creek, CA. The organization was established in 1963. According to its NTEE Classification (B12) the organization is classified as: Fund Raising & Fund Distribution, under the broad grouping of Education and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Herbst Foundation 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 07/2022, Herbst Foundation Inc generated $6.4m in total revenue. This represents relatively stable growth, over the past 6 years the organization has increased revenue by an average of 7.2% each year. All expenses for the organization totaled $4.4m during the year ending 07/2022. While expenses have increased by 2.9% per year over the past 6 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 2015, Herbst Foundation Inc has awarded 100 individual grants totaling $35,436,668. 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 |
|---|---|---|---|
Jerrol L Harris Director | 1 | $0 | |
Melvyn I Mark President | 1 | $0 | |
Robert K Taylor Treas. & Direct | 1 | $0 | |
Steven Monosson Director | 1 | $0 | |
Bruce W Hart Director | 1 | $0 | |
William Noble Director | 1 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Clearbridge Investments Llc | 7/30/22 | $82,429 |
Stewart & Patten Co Llc | 7/30/22 | $66,516 |
Wells Fargo Advisors | 7/30/22 | $61,885 |
Gardner Russo & Gardner Llc | 7/30/22 | $136,133 |
Rk Taylor & Associates | 7/30/22 | $75,000 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $0 |
| Interest on Savings | $20,871 |
| Dividends & Interest | $1,453,398 |
| Net Rental Income | $0 |
| Net Gain on Sale of Assets | $4,944,072 |
| Capital Gain Net Income | $4,944,072 |
| Net ST Capital Gain | $68,750 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $0 |
| Other Income | $0 |
| Total Revenue | $6,418,341 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $0 |
| Other employee salaries and wages | $101,108 |
| Pension plans, employee benefits | $0 |
| Interest | $0 |
| Taxes | $57,173 |
| Depreciation | $2,008 |
| Occupancy | $87,201 |
| Travel, conferences, and meetings | $150 |
| Printing and publications | $0 |
| Other expenses | $22,162 |
| Total operating and administrative expenses | $712,197 |
| Contributions, gifts, grants paid | $3,661,076 |
| Total expenses and disbursements | $4,373,273 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $13,571,846 |
| 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 | $0 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $0 |
| Net Investments - land, buildings, equipment | $0 |
| Investments—mortgage loans | $0 |
| Investments—other | $0 |
| Net Land, buildings, and equipment | $2,454 |
| Other assets | $16,068 |
| Total assets | $62,095,126 |
| Accounts payable and accrued expenses | $1,959 |
| 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 | $0 |
| Total liabilities | $1,959 |
Grants Awarded
Over the last fiscal year, Herbst Foundation Inc has awarded $3,450,000 in support to 9 organizations.
| Grant Recipient | Amount |
|---|---|
ST IGNATIUS COLLEGE PREPARATORY PURPOSE: FACILITY IMPROVEMENTS | $1,000,000 |
San Francisco, CA PURPOSE: FACILITY IMPROVEMENTS | $750,000 |
San Francisco, CA PURPOSE: FACILITY IMPROVEMENTS | $500,000 |
FINE ARTS MUSEUM OF SF PURPOSE: FACILITY IMPROVEMENTS | $400,000 |
MEALS ON WHEELS SF PURPOSE: FACILITY IMPROVEMENTS | $250,000 |
San Francisco, CA PURPOSE: FACILITY IMPROVEMENTS | $150,000 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Provenance Duarte, CA | $16,793,106 | $20,000,682 |
Spark Sf Public Schools San Francisco, CA | $15,254,604 | $27,199,561 |
Great Public Schools Now Los Angeles, CA | $20,013,399 | $15,067,311 |
Institute For Supply Management Inc Tempe, AZ | $18,812,365 | $12,909,076 |
Gladstone Foundation San Francisco, CA | $27,923,141 | $22,078,581 |
George Lucas Educational Foundation San Rafael, CA | $6,425,809 | $14,665,129 |
The Parasol Tahoe Community Foundation Inc Incline Village, NV | $97,913,034 | $15,633,796 |
Davidson Institute For Talent Development Incline Village, NV | $2,040,449 | $8,109,259 |
Pueblo Nuevo Education And Development Group Los Angeles, CA | $12,032,883 | $8,677,303 |
Silicon Schools Fund Inc Oakland, CA | $28,590,142 | $9,890,035 |
Alliance College-Ready Public Schools Foundation Los Angeles, CA | $1,948,564 | $6,883,984 |
Stem Next Opportunity Fund San Diego, CA | $10,305,213 | $10,913,896 |