The Carroll Shelby Foundation
- Assets
- $10.2m
- Revenue
- $1.7m
- Investments
- $0.0
- Employees
- 2
- Location
- Gardena, CA
- Founding
- 10/1996
- Data as of
- 12/2022
- EIN
- 95-4342625
Organization Overview
The Carroll Shelby Foundation is located in Gardena, CA. The organization was established in 1996. According to its NTEE Classification (Z99) the organization is classified as: Unknown, under the broad grouping of Unknown and related organizations. As of 12/2022, Carroll Shelby Foundation employed 2 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Carroll Shelby 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 12/2022, Carroll Shelby Foundation generated $1.7m in total revenue. This organization has experienced exceptional growth, as over the past 8 years, it has increased revenue by an average of 14.1% each year . All expenses for the organization totaled $443.9k during the year ending 12/2022. You can explore the organizations financials more deeply in the financial statements section below.
Since 2014, Carroll Shelby Foundation has awarded 51 individual grants totaling $2,053,311. 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 OF HEALTH CARE AND EDUCATION, SUPPORT FOR AN AUTOMOTIVE MUSEUM FOR PUBLIC BENEFIT.
Describe the Organization's Program Activity:
Part 3 - Line 4a
FUNDING AND SUPPORT FOR YOUTH EDUCATION AND AUTOMOTIVE VOCATIONAL PROGRAMS THROUGH PUBLIC CHARITIIES.
FUNDS FOR PUBLIC CHARITY PROVIDING CHILDREN'S MEDICAL SERVICES.
SUPPORT OF PUBLIC CHARITIES ASSISTING YOUTHS AND CHILDREN IN DIFFICULT LIFE SITUATIONS REQUIRING ASSISTANCE AND SUPPORT.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
M Neil Cummings Director | OfficerTrustee | 2 | $0 |
Aaron Shelby Director | OfficerTrustee | 2 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
M Neil Cummings & Assoc Legal Services | 12/30/14 | $110,201 |
Liner Llp Legal Services | 12/30/14 | $102,518 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $1,133,395 |
| Noncash contributions included in lines 1a–1f | $1,005,000 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $1,133,395 |
| Total Program Service Revenue | $0 |
| Investment income | $62,041 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $68,452 |
| Net Income from Fundraising Events | $403,703 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $1,667,591 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $213,300 |
| Grants and other assistance to domestic individuals. | $2,600 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $27,667 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $38,385 |
| Payroll taxes | $9,600 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $9,104 |
| Fees for services: Accounting | $7,849 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $40,482 |
| Advertising and promotion | $2,563 |
| Office expenses | $0 |
| Information technology | $1,463 |
| Royalties | $0 |
| Occupancy | $48,000 |
| Travel | $5,087 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $19,979 |
| Insurance | $0 |
| All other expenses | $3,556 |
| Total functional expenses | $443,900 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $297 |
| Savings and temporary cash investments | $537,828 |
| Pledges and grants receivable | $0 |
| 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 | $0 |
| Net Land, buildings, and equipment | $40,211 |
| Investments—publicly traded securities | $2,490,954 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $5,996 |
| Other assets | $7,145,731 |
| Total assets | $10,221,017 |
| Accounts payable and accrued expenses | $0 |
| Grants payable | $0 |
| 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 | $284,975 |
| Total liabilities | $284,975 |
| Net assets without donor restrictions | $0 |
| Net assets with donor restrictions | $0 |
| 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 | $9,936,042 |
| Total liabilities and net assets/fund balances | $10,221,017 |
Grants Awarded
Over the last fiscal year, The Carroll Shelby Foundation has awarded $210,800 in support to 8 organizations.
| Grant Recipient | Amount |
|---|---|
CHILDREN'S HOSPITAL OF PITTSBURGH OF UPMC PURPOSE: SUPPORT FOR CHILDREN'S MEDICAL SERVICES | $10,000 |
CHILDREN'S MEDICAL CENTER FOUNDATION PURPOSE: SUPPORT FOR CHILDREN'S MEDICAL SERVICES | $10,000 |
CHILDREN'S ORGAN TRANSPLANT ASSOCIATION PURPOSE: SUPPORT FOR CHILDREN'S MEDICAL SERVICES | $50,000 |
CSN FOUNDATION PURPOSE: SUPPORT FOR EDUCATIONAL AND VOCATIONAL PROGRAMS | $37,500 |
DELL CHILDREN'S FOUNDATION PURPOSE: SUPPORT FOR CHILDREN'S MEDICAL SERVICES | $10,000 |
LOMA LINDA UNIVERSITY HEALTH PURPOSE: SUPPORT FOR CHILDREN'S MEDICAL SERVICES | $10,000 |