First Fruit Inc
- Assets
- $23.3m
- Revenue
- $3.1m
- Investments
- $19.5m
- Employees
- 0
- Location
- Newport Beach, CA
- Founding
- 12/1976
- Data as of
- 12/2022
- EIN
- 95-3081605
Organization Overview
First Fruit Inc is located in Newport Beach, CA. The organization was established in 1976. 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. First Fruit 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 12/2022, First Fruit Inc generated $3.1m in total revenue. This represents relatively stable growth, over the past 4 years the organization has increased revenue by an average of 1.7% each year. All expenses for the organization totaled $3.8m during the year ending 12/2022. You can explore the organizations financials more deeply in the financial statements section below.
Since 2020, First Fruit Inc has awarded 452 individual grants totaling $14,816,640. 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 |
|---|---|---|---|
Peter M Ochs President & Director | 25 | $0 | |
Gail J Ochs Co-Vice President & Director | 15 | $0 | |
David W Bennett Secretary & Director | 6.5 | $7,500 | |
Richard M Haugen Treasurer | 5 | $0 | |
Abigail Frederick Co-Vice President & Director | 15 | $20,000 | |
Brian Fikkert Director | 5 | $7,500 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $0 |
| Interest on Savings | $37,532 |
| Dividends & Interest | $507,698 |
| Net Rental Income | $0 |
| Net Gain on Sale of Assets | $981,549 |
| Capital Gain Net Income | $981,549 |
| Net ST Capital Gain | $0 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $0 |
| Other Income | $1,605,586 |
| Total Revenue | $3,132,365 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $57,500 |
| Other employee salaries and wages | $633,181 |
| Pension plans, employee benefits | $97,756 |
| Interest | $0 |
| Taxes | $500,467 |
| Depreciation | $8,010 |
| Occupancy | $0 |
| Travel, conferences, and meetings | $197,595 |
| Printing and publications | $825 |
| Other expenses | $135,453 |
| Total operating and administrative expenses | $1,868,235 |
| Contributions, gifts, grants paid | $1,956,555 |
| Total expenses and disbursements | $3,824,790 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $85,772 |
| Savings and temporary cash investments | $3,659,454 |
| 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 | $8,116 |
| Net Investments - land, buildings, equipment | $0 |
| Investments—mortgage loans | $0 |
| Investments—other | $5,019,984 |
| Net Land, buildings, and equipment | $35,567 |
| Other assets | $0 |
| Total assets | $23,256,777 |
| Accounts payable and accrued expenses | $0 |
| 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 | $0 |
Grants Awarded
Over the last fiscal year, First Fruit Inc has awarded $1,956,555 in support to 66 organizations.
| Grant Recipient | Amount |
|---|---|
ALPHA USA PURPOSE: REST GRANT FOR ASIA PACIFIC DIRECTOR | $600 |
ACROSS USA PURPOSE: WHERE NEEDED MOST | $10,000 |
ASIA PARTNERS PURPOSE: TRAVEL | $7,500 |
ASIAN ACCESS PURPOSE: GRANT | $2,000 |
BRIGHT HOPE INTERNATIONAL PURPOSE: FAMILY EMPOWERMENT/ORPHAN TO FAMILY INITIATIVE IN LUUKA DISTRICT | $3,000 |
BENGALI CHRISTIAN MINISTRY PURPOSE: LEADERSHIP DEVELOPMENT OF BENGALI CHRISTIAN LEADERS | $8,500 |