John H & Cynthia Lee Smet Foundation
- Assets
- $193.1m
- Revenue
- $14.2m
- Investments
- $192.2m
- Employees
- 0
- Location
- Manhattan Beach, CA
- Founding
- 08/2015
- Data as of
- 12/2023
- EIN
- 95-4399946
Organization Overview
John H & Cynthia Lee Smet Foundation is located in Manhattan Beach, CA. The organization was established in 2015. According to its NTEE Classification (B11) the organization is classified as: Single Organization Support, under the broad grouping of Education and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. John H & Cynthia Lee Smet 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 12/2023, John H & Cynthia Lee Smet Foundation generated $14.2m in total revenue. This represents a relatively dramatic decline in revenue. Over the past 5 years, the organization has seen revenues fall by an average of (9.4%) each year. All expenses for the organization totaled $7.3m during the year ending 12/2023. You can explore the organizations financials more deeply in the financial statements section below.
Since 2019, John H & Cynthia Lee Smet Foundation has awarded 149 individual grants totaling $24,073,780. 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
990PF
Mission & Program ActivityExcerpts From the 990PF Filing
TAX YEAR
2023
Describe the Organization's Program Activity:
Part 3 - Line 4a
ONWARD READERS AND SCHOLARS HELPS TO INCREASE READING SKILLS FOR STUDENTS K-3RD GRADE AT SELECTED SCHOOLS. THE FUNDS PROVIDED HELP TO PAY FOR SALARIES, PURCHASE ALL BOOKS, MATERIALS, COMPUTERS, SCHOOL CONSTRUCTION AND SUPPLIES NEEDED FOR THE PROGRAM.
ST. PIUS X ST. MATTHIAS ACADEMY EDUCATIONAL EXPENSES PAID INCLUDE TUITION FEES, GRANTS, SCHOOL CONSTRUCTION, AND OTHER RELIGIOUS/EDUCATIONAL EXPENSES.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
John H Smet President | 30 | $0 | |
Cynthia Lee Smet Secretary | 30 | $0 | |
Liliana Funes Osp Director | 40 | $101,895 | |
Edgar Alonso Osp Director | 40 | $100,399 | |
Melissa Turcios Osp Director | 40 | $97,440 | |
Michele Rice Osp Director | 40 | $88,554 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $5,653,000 |
| Interest on Savings | $0 |
| Dividends & Interest | $3,588,850 |
| Net Rental Income | $0 |
| Net Gain on Sale of Assets | $4,900,259 |
| Capital Gain Net Income | $4,900,259 |
| Net ST Capital Gain | $0 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $0 |
| Other Income | $43,747 |
| Total Revenue | $14,185,856 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $0 |
| Other employee salaries and wages | $823,331 |
| Pension plans, employee benefits | $0 |
| Interest | $0 |
| Taxes | $148,326 |
| Depreciation | $0 |
| Occupancy | $78,508 |
| Travel, conferences, and meetings | $0 |
| Printing and publications | $0 |
| Other expenses | $5,364,017 |
| Total operating and administrative expenses | $6,453,726 |
| Contributions, gifts, grants paid | $883,889 |
| Total expenses and disbursements | $7,337,615 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $41,783 |
| Savings and temporary cash investments | $515,786 |
| 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 | $75,293 |
| Net Investments - land, buildings, equipment | $0 |
| Investments—mortgage loans | $0 |
| Investments—other | $156,353,004 |
| Net Land, buildings, and equipment | $0 |
| Other assets | $326,383 |
| Total assets | $193,137,525 |
| Accounts payable and accrued expenses | $1,276 |
| Grants payable | $5,506,349 |
| Deferred revenue | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Mortgages and other notes payable | $0 |
| Other liabilities | $1,156,679 |
| Total liabilities | $6,664,304 |
Grants Awarded
Over the last fiscal year, John H & Cynthia Lee Smet Foundation has awarded $6,362,549 in support to 21 organizations.
| Grant Recipient | Amount |
|---|---|
PUEBLO NUEVO EDUCATION AND DEVELOPMENT PURPOSE: EDUCATION | $41,800 |
AMERICAN MARTYRS CHURCH PURPOSE: GENERAL PURPOSE | $100,000 |
CALIFORNIA SCIENCE CENTER PURPOSE: EDUCATION | $125,000 |
USOPF PURPOSE: GENERAL PURPOSE | $167,000 |
JEFFERSON SCHOLARS FOUNDATION PURPOSE: EDUCATION | $53,400 |
TEACH FOR AMERICA PURPOSE: EDUCATION | $35,000 |