Towbes Foundation
- Assets
- $10.3m
- Revenue
- $4.0m
- Investments
- $9.9m
- Employees
- 0
- Location
- Santa Barbara, CA
- Founding
- 11/1980
- Data as of
- 06/2022
- EIN
- 95-3519577
Organization Overview
Towbes Foundation is located in Santa Barbara, CA. The organization was established in 1980. 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. Towbes 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, Towbes Foundation generated $4.0m in total revenue. This represents a relatively dramatic decline in revenue. Over the past 3 years, the organization has seen revenues fall by an average of (13.6%) each year. All expenses for the organization totaled $4.1m during the year ending 06/2022. As we would expect to see with falling revenues, expenses have declined by (6.0%) per year over the past 3 years. You can explore the organizations financials more deeply in the financial statements section below.
Since 2021, Towbes Foundation has awarded 170 individual grants totaling $2,764,955. 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 |
|---|---|---|---|
Sheridah Gerard Secretary | 1 | $2,250 | |
Lynn C Towbes President | 10 | $2,250 | |
Robert L Skinner Vice President | 2 | $2,250 | |
Patricia Macfarlane Treasurer | 10 | $0 | |
Kristen Sullivan PHD Executive Dir. | 40 | $144,033 | |
Virginia Salazar Director | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $86,150 |
| Interest on Savings | $13,422 |
| Dividends & Interest | $212,800 |
| Net Rental Income | $1,616,157 |
| Net Gain on Sale of Assets | -$40,501 |
| Capital Gain Net Income | $0 |
| Net ST Capital Gain | $0 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $0 |
| Other Income | $0 |
| Total Revenue | $3,957,496 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $153,033 |
| Other employee salaries and wages | $0 |
| Pension plans, employee benefits | $36,751 |
| Interest | $0 |
| Taxes | -$4,150 |
| Depreciation | $12,377 |
| Occupancy | $65,332 |
| Travel, conferences, and meetings | $0 |
| Printing and publications | $0 |
| Other expenses | $2,182,415 |
| Total operating and administrative expenses | $2,542,154 |
| Contributions, gifts, grants paid | $1,556,750 |
| Total expenses and disbursements | $4,098,904 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $345,052 |
| Savings and temporary cash investments | $0 |
| 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 | $9,928,584 |
| Net Land, buildings, and equipment | $51,463 |
| Other assets | $0 |
| Total assets | $10,325,099 |
| 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 | $255,764 |
| Total liabilities | $255,764 |
Grants Awarded
Over the last fiscal year, Towbes Foundation has awarded $1,556,750 in support to 90 organizations.
| Grant Recipient | Amount |
|---|---|
ADVENTURES IN CARING PURPOSE: GENERAL OPERATING SUPPORT | $5,000 |
ANGELS FOSTER CARE OF SANTA BARBARA PURPOSE: KINSHIP ANGELS PROGRAM | $7,500 |
AHA ATTITUDE HARMONY ACHIEVEMENT PURPOSE: GENERAL OPERATING SUPPORT | $10,000 |
ANTI-DEFAMATION LEAGUE PURPOSE: GENERAL OPERATING SUPPORT | $6,000 |
ATTERDAG AT HOME INC PURPOSE: MEALS ON WHEELS PROGRAM | $5,000 |
BOYS GIRLS CLUB OF MID CENTRAL COAS PURPOSE: POWER HOUR PROGRAM SUPPORT | $15,000 |