Long Beach City College Foundation
- Assets
- $26.3m
- Revenue
- $9.9m
- Investments
- $0.0
- Employees
- 13
- Location
- Long Beach, CA
- Founding
- 10/1979
- Data as of
- 06/2022
- EIN
- 95-3297459
Organization Overview
Long Beach City College Foundation is located in Long Beach, CA. The organization was established in 1979. According to its NTEE Classification (B42) the organization is classified as: Undergraduate Colleges, under the broad grouping of Education and related organizations. As of 06/2022, Long Beach City College Foundation employed 13 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Long Beach City College 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, Long Beach City College Foundation generated $9.9m in total revenue. This organization has experienced exceptional growth, as over the past 7 years, it has increased revenue by an average of 14.9% each year . All expenses for the organization totaled $2.7m during the year ending 06/2022. You can explore the organizations financials more deeply in the financial statements section below.
Since 2015, Long Beach City College Foundation has awarded 12 individual grants totaling $13,296,176. 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
SUPPORT & ENHANCE THE LEARNING ENVIRONMENT OF THE LONG BEACH COMMUNITY COLLEGE DISTRICT.
Describe the Organization's Program Activity:
Part 3 - Line 4a
EDUCATION IS THE MOST IMPORTANT FACTOR THAT DETERMINES WHAT OPPORTUNITIES A PERSON WILL HAVE IN LIFE. LONG BEACH CITY COLLEGE (LBCC) PROVIDES THE EDUCATION AND TRAINING. THE FOUNDATION PROVIDES THE FINANCIAL SUPPORT THAT ALLOWS PEOPLE TO TAKE ADVANTAGE OF THAT EDUCATION AND TRAINING. THE FOUNDATION PROVIDES A VEHICLE FOR FINANCIAL SUPPORT FROM THE COMMUNITY. IT IS ESTIMATED THAT ONE IN THREE LONG BEACH AREA RESIDENTS HAVE ATTENDED LBCC. MANY OF THESE STUDENTS REQUIRED FINANCIAL ASSISTANCE. THE FOUNDATION HAS RAISED OVER $60 MILLION TO PROVIDE SCHOLARSHIPS, DEPARTMENTAL GRANTS, CAMPUS BEAUTIFICATION, AND FACILITIES UPGRADES. LITERALLY THOUSANDS OF STUDENTS HAVE RECEIVED FUNDS TO PAY ENROLLMENT FEES AND BUY BOOKS AND THE NEED TO PROVIDE FINANCIAL ASSISTANCE CONTINUES TODAY.THE FOUNDATION HAS THE LARGEST SCHOLARSHIP PROGRAM OF ANY SOUTHERN CALIFORNIA COMMUNITY COLLEGE. IT GIVES TO MORE STUDENTS THAN ANY OTHER TWO YEAR INSTITUTION AND OFFERS SCHOLARSHIPS TO FACULTY AND STAFF SO THEY MAY INCREASE THEIR KNOWLEDGE IN THEIR CHOSEN PROFESSION OR EMBARK ON A NEW CAREER. DURING THE YEAR, THE FOUNDATION PROVIDED 955 SCHOLARSHIPS AND AWARDS TO QUALIFIED STUDENTS.
PROMOTE GENERAL WELFARE OF LONG BEACH CITY COLLEGE BY ASSISTING AND SUPPORTING THE ATTAINMENT OF ATHLETIC, EDUCATIONAL AND CULTURAL GOALS THROUGH GRANTS AND OTHER ASSISTANCE TO ASSOCIATE GROUPS, DEPARTMENTS, FACULTY, AND STAFF.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Paul Kaminski Executive Director, Honorary | OfficerTrustee | 40 | $157,560 |
Zasueta Dr Serafin President | OfficerTrustee | 2 | $0 |
Moore Aaron Treasurer, President Elect | OfficerTrustee | 2 | $0 |
Ellis Barbara Vice President | OfficerTrustee | 2 | $0 |
Epley Marcelle Vice President | OfficerTrustee | 2 | $0 |
Fylpaa Dr John Vice President | OfficerTrustee | 2 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $191,062 |
| All other contributions, gifts, grants, and similar amounts not included above | $8,035,166 |
| Noncash contributions included in lines 1a–1f | $145,590 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $8,226,228 |
| Total Program Service Revenue | $0 |
| Investment income | $930,937 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $500,858 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $9,933,898 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $540,329 |
| Grants and other assistance to domestic individuals. | $875,478 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $185,936 |
| Compensation of current officers, directors, key employees. | $46,484 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $517,309 |
| Pension plan accruals and contributions | $12,114 |
| Other employee benefits | $36,143 |
| Payroll taxes | $52,575 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $56,957 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $80,954 |
| Fees for services: Other | $0 |
| Advertising and promotion | $18,680 |
| Office expenses | $250,608 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $964 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $4,367 |
| Interest | $395 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $6,170 |
| Insurance | $7,382 |
| All other expenses | $29,781 |
| Total functional expenses | $2,676,142 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $7,301 |
| Savings and temporary cash investments | $450,653 |
| Pledges and grants receivable | $750,058 |
| Accounts receivable, net | $352,932 |
| 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 | $2,488 |
| Net Land, buildings, and equipment | $37,191 |
| Investments—publicly traded securities | $22,505,403 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $2,206,069 |
| Total assets | $26,312,095 |
| Accounts payable and accrued expenses | $122,829 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| Tax-exempt bond liabilities | $0 |
| Escrow or custodial account liability | $243,016 |
| 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 | $365,845 |
| Net assets without donor restrictions | $3,494,500 |
| Net assets with donor restrictions | $22,451,750 |
| 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 | $26,312,095 |
Grants Awarded
Over the last fiscal year, Long Beach City College Foundation has awarded $2,005,184 in support to 2 organizations.
| Grant Recipient | Amount |
|---|---|
LONG BEACH COMMUNITY COLLEGE DISTRICT PURPOSE: INSTITUTIONAL SUPPORT | $1,502,482 |
LBCC ASSOCIATE GROUPS PURPOSE: PROGRAM SUPPORT | $502,702 |