The Foundation For Santa Barbara City College
- Assets
- $84.7m
- Revenue
- $11.9m
- Investments
- $8.2m
- Employees
- 16
- Location
- Santa Barbara, CA
- Founding
- 04/1976
- Data as of
- 06/2022
- EIN
- 95-3234551
Organization Overview
The Foundation For Santa Barbara City College, operating under the name Sbcc Foundation, is located in Santa Barbara, CA. The organization was established in 1976. According to its NTEE Classification (B11) the organization is classified as: Single Organization Support, under the broad grouping of Education and related organizations. As of 06/2022, Sbcc Foundation employed 16 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Sbcc 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, Sbcc Foundation generated $11.9m in total revenue. This organization has experienced exceptional growth, as over the past 7 years, it has increased revenue by an average of 10.3% each year . All expenses for the organization totaled $6.6m during the year ending 06/2022. While expenses have increased by 2.9% per year over the past 7 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 2018, Sbcc Foundation has awarded 11 individual grants totaling $14,256,836. 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
2022
Describe the Organization's Mission:
Part 3 - Line 1
THE SBCC FOUNDATION FUELS THE EXCELLENCE OF SANTA BARBARA CITY COLLEGE BY ENGAGING THE COMMUNITY, BUILDING RELATIONSHIPS, AND INVITING THE GENEROSITY OF DONORS. THE RESOURCES RAISED AND MANAGED BY THE FOUNDATION ENRICH COLLEGE PROGRAMS, REMOVE BARRIERS, AND EMPOWER STUDENTS TO SUCCEED.
Describe the Organization's Program Activity:
THE SBCC FOUNDATION PROVIDED $1.2 MILLION IN SUPPORT TO COLLEGE DEPARTMENTS AND PROGRAMS DURING THE 2021-2022 ACADEMIC YEAR. THESE RESOURCES ALLOW COLLEGE FACULTY, STAFF, AND ADMINISTRATORS TO IMPROVE EXISTING PROGRAMS, EXPERIMENT WITH NEW AND INNOVATIVE APPROACHES, AND ACHIEVE OUTSTANDING ACADEMIC OUTCOMES.
THE SBCC FOUNDATION PROVIDED OVER $1 MILLION IN DIRECT STUDENT SUPPORT, IN THE FORM OF SCHOLARSHIPS AND BOOKS GRANTS, TO MORE THAN 1,000 STUDENTS IN THE 2021- 2022 ACADEMIC YEAR. FOR MANY STUDENTS, THIS SUPPORT CAN MEAN THE DIFFERENCE BETWEEN DROPPING OUT OF COLLEGE AND SUCCESSFULLY COMPLETING A DEGREE, CERTIFICATE, OR TRANSFER PROGRAM. THE SBCC FOUNDATION ALSO CONTINUED TO FUND IMPORTANT STUDENT SUPPORT PROGRAMS THAT SERVE SINGLE-PARENT STUDENTS, UNDERPREPARED HIGH SCHOOL GRADUATES, AND THOSE RECENTLY RELEASED FROM THE CRIMINAL JUSTICE SYSTEM WHO ARE STARTING COLLEGE. ACCORDING TO THE COLLEGE FUTURES FOUNDATION, SCHOLARSHIPS ALSO HAVE A POSITIVE IMPACT ON STUDENT MATRICULATION RATES. (CONTINUED ON SCHEDULE O)
THE SBCC FOUNDATION CREATED THE SBCC PROMISE IN 2016, TO MAKE OUR COMMUNITY'S COLLEGE ACCESSIBLE AND AFFORDABLE TO ALL RECENT LOCAL HIGH SCHOOL GRADUATES. THE SBCC PROMISE OFFERS TWO YEARS OF COMPREHENSIVE SUPPORT (COVERING ALL REQUIRED FEES, BOOKS AND SUPPLIES) TO ANY LOCAL STUDENT WHO ENROLLS FULL TIME AT SBCC IN THE FALL OR SPRING SEMESTER FOLLOWING THE COMPLETION OF THEIR SECONDARY EDUCATION WITHIN THE SBCC DISTRICT. IN THE 2021-2022 ACADEMIC YEAR, MORE THAN 1,500 SBCC PROMISE STUDENTS WERE ENROLLED. RESEARCH ON COLLEGE ACHIEVEMENT CORRELATES A STUDENT'S CHANCE OF SUCCESS WITH EARLY ENROLLMENT, FULL-TIME STUDENT STATUS, AND ACCESS TO ACADEMIC COUNSELING AND SUPPORT. THE SBCC PROMISE INCLUDES ALL OF THESE ELEMENTS, PROVIDING $1.9 MILLION IN SUPPORT TO SBCC PROMISE STUDENTS IN THE 2021-2022 ACADEMIC YEAR.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Carola Smith Ex-Officio - Sbcc | Trustee | 1 | $0 |
Joyce Coleman Ex-Officio - Sbcc (thru 9/30/21) | Trustee | 1 | $0 |
Raeanne Napoleon Ex-Officio - Sbcc | Trustee | 1 | $0 |
Melanie Eckford-Prossor Ex-Officio - Sbcc | Trustee | 1 | $0 |
Kindred Murillo Ex-Officio - Sbcc | Trustee | 1 | $0 |
Kathy Scott Ex-Officio - Sbcc | Trustee | 1 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Mac Brown Excavating Inc Disaster Relief | 6/29/18 | $160,539 |
Solforce Disaster Relief | 6/29/18 | $192,989 |
Pueblo Construction Inc Construction | 6/29/18 | $297,652 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $339,886 |
| Related organizations | $30,000 |
| Government grants | $241,236 |
| All other contributions, gifts, grants, and similar amounts not included above | $3,823,762 |
| Noncash contributions included in lines 1a–1f | $194,299 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $4,434,884 |
| Total Program Service Revenue | $0 |
| Investment income | $7,248,572 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $15,216 |
| Net Income from Fundraising Events | -$117,327 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $11,936,703 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $3,226,298 |
| Grants and other assistance to domestic individuals. | $1,112,708 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $396,369 |
| Compensation of current officers, directors, key employees. | $184,505 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $819,878 |
| Pension plan accruals and contributions | $56,305 |
| Other employee benefits | $163,540 |
| Payroll taxes | $85,230 |
| Fees for services: Management | $8,390 |
| Fees for services: Legal | $687 |
| Fees for services: Accounting | $50,413 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $288,764 |
| Fees for services: Other | $0 |
| Advertising and promotion | $137,494 |
| Office expenses | $29,932 |
| Information technology | $81,729 |
| 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 | $17,580 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $14,600 |
| Insurance | $8,015 |
| All other expenses | $31,625 |
| Total functional expenses | $6,630,365 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $2,706,851 |
| Savings and temporary cash investments | $7,673,658 |
| Pledges and grants receivable | $1,770,400 |
| Accounts receivable, net | $0 |
| 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 | $54,393 |
| Net Land, buildings, and equipment | $29,235 |
| Investments—publicly traded securities | $46,901,295 |
| Investments—other securities | $8,162,796 |
| Investments—program-related | $8,159,911 |
| Intangible assets | $0 |
| Other assets | $9,270,976 |
| Total assets | $84,729,515 |
| Accounts payable and accrued expenses | $992,416 |
| Grants payable | $1,782,450 |
| Deferred revenue | $0 |
| 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 | $631,585 |
| Total liabilities | $3,406,451 |
| Net assets without donor restrictions | $17,317,857 |
| Net assets with donor restrictions | $64,005,207 |
| 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 | $84,729,515 |
Grants Awarded
Over the last fiscal year, The Foundation For Santa Barbara City College has awarded $4,933,288 in support to 3 organizations.
| Grant Recipient | Amount |
|---|---|
SANTA BARBARA CITY COLLEGE PURPOSE: TO ASSIST THE COLLEGE IN PROVIDING OUTSTANDING EDUCATIONAL OPPORTUNITIES FOR ALL BY ENRICHING COLLEGE PROGRAMS, REMOVING BARRIERS TO ACCESS, AND EMPOWERING STUDENTS TO SUCCEED. | $3,944,174 |
SANTA BARBARA BUCKET BRIGADE PURPOSE: COMMUNITY RECOVERY EFFORTS FOLLOWING LOCAL DISASTERS. | $23,864 |
PARTNERS IN COMMUNITY RENEWAL PURPOSE: COMMUNITY RECOVERY EFFORTS FOLLOWING LOCAL DISASTERS. | $965,250 |