Ernest Prete Jr Foundation
- Assets
- $6.1m
- Revenue
- $184.4k
- Investments
- $5.8m
- Employees
- 0
- Location
- Encino, CA
- Founding
- 11/1991
- Data as of
- 05/2022
- EIN
- 95-4333283
Organization Overview
Ernest Prete Jr Foundation is located in Encino, CA. The organization was established in 1991. 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. Ernest Prete Jr 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 05/2022, Ernest Prete Jr Foundation generated $184.4k in total revenue. This represents a relatively dramatic decline in revenue. Over the past 6 years, the organization has seen revenues fall by an average of (13.7%) each year. All expenses for the organization totaled $397.9k during the year ending 05/2022. You can explore the organizations financials more deeply in the financial statements section below.
Since 2016, Ernest Prete Jr Foundation has awarded 53 individual grants totaling $1,285,053. 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 |
|---|---|---|---|
Mohammad J Virani Director | 20 | $85,918 | |
Rebecca Natalia Director | 0 | $0 | |
Leon Small Director | 0 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $0 |
| Interest on Savings | $19,979 |
| Dividends & Interest | $153,484 |
| Net Rental Income | $0 |
| Net Gain on Sale of Assets | $10,921 |
| Capital Gain Net Income | $10,921 |
| Net ST Capital Gain | $10,921 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $0 |
| Other Income | $0 |
| Total Revenue | $184,384 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $85,918 |
| Other employee salaries and wages | $0 |
| Pension plans, employee benefits | $0 |
| Interest | $0 |
| Taxes | $5,471 |
| Depreciation | $0 |
| Occupancy | $9,750 |
| Travel, conferences, and meetings | $0 |
| Printing and publications | $0 |
| Other expenses | $56,265 |
| Total operating and administrative expenses | $181,404 |
| Contributions, gifts, grants paid | $216,503 |
| Total expenses and disbursements | $397,907 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $98,863 |
| 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 | $253,530 |
| 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 | $0 |
| Other assets | $0 |
| Total assets | $6,133,083 |
| 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 | $1,486 |
| Total liabilities | $1,486 |
Grants Awarded
Over the last fiscal year, Ernest Prete Jr Foundation has awarded $216,503 in support to 6 organizations.
| Grant Recipient | Amount |
|---|---|
CALPOLY POMONA - PHILANTROPIC FOUND PURPOSE: FELLOWSHIP PROGRAM FOR K-12 PARTNERSHIP FUND | $83,003 |
GLAZA PURPOSE: SUPPORT ANIMAL WELFARE,CONSERVATION,CAPITAL PROJECTS | $60,000 |
HOPE OF THE VALLEY PURPOSE: FREE HOUSING FOR HOMELESS | $50,000 |
ALAPIO PURPOSE: FREE SURGERIES & MEDICAL CLINIC | $11,000 |
LEARNING WITH A DIFFERENCE PURPOSE: SCIENTIFIC EDUCATION FOR CHILDREN W/ LEARNING DISABILITY | $10,000 |
WEST VALLEY REBELS PURPOSE: PROMOTE ATHLETIC OPPORTUNITIES TO CHALLENGE KIDS | $2,500 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Dr Miriam And Sheldon G Adelson Las Vegas, NV | $37,664,470 | $5,516,038 |
Shimon Ben Joseph Foundation San Francisco, CA | $1,592,283,787 | $39,921,005 |
Alfred C Munger Foundation Los Angeles, CA | $17,737,694 | $91,163,030 |
Hellman Foundation San Francisco, CA | $693,471,633 | $133,789,010 |
The Eric And Wendy Schmidt Fund For Strategic Innovation Palo Alto, CA | $1,715,568,763 | $412,161,407 |
Omidyar Network Fund Inc Redwood City, CA | $490,038,780 | $21,031,743 |
Sobrato Family Foundation Mountain View, CA | $811,956,453 | $266,068,436 |
Moore Family Foundation Incline Village, NV | $173,909 | $5,659,701 |
Benificus Foundation San Carlos, CA | $13,481,294 | $1,960,393 |
H&h Evergreen Foundation Menlo Park, CA | $393,647,714 | $39,435,652 |
The Energy Foundation San Francisco, CA | $108,278,429 | $83,158,939 |
Stupski Foundation San Francisco, CA | $0 | $134,835,311 |