The Santa Monica College Foundation
- Assets
- $31.9m
- Revenue
- $5.6m
- Investments
- $0.0
- Employees
- 6
- Location
- Santa Monica, CA
- Founding
- 08/1964
- Data as of
- 06/2022
- EIN
- 95-6047779
Organization Overview
The Santa Monica College Foundation is located in Santa Monica, CA. The organization was established in 1964. According to its NTEE Classification (B82) the organization is classified as: Scholarships & Student Financial Aid, under the broad grouping of Education and related organizations. As of 06/2022, Santa Monica College Foundation employed 6 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Santa Monica 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, Santa Monica College Foundation generated $5.6m in total revenue. This organization has experienced exceptional growth, as over the past 7 years, it has increased revenue by an average of 14.4% each year . All expenses for the organization totaled $3.4m during the year ending 06/2022. While expenses have increased by 4.1% per year over the past 7 years. They've been increasing with an increasing level of total revenue. You can explore the organizations financials more deeply in the financial statements section below.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2022
Describe the Organization's Mission:
Part 3 - Line 1
PROVIDE SCHOLARSHIPS TO SANTA MONICA COLLEGE STUDENTS.
Describe the Organization's Program Activity:
Part 3 - Line 4a
STUDENT PROGRAMMING AND ASSISTANCE: SANTA MONICA COLLEGE'S STUDENT SERVICES PROGRAMS PROVIDE ONGOING EDUCATIONAL AND COUNSELING SUPPORT TO ITS STUDENTS. FROM THE VETERANS' RESOURCE CENTER, BLACK COLLEGIANS PROGRAM, AND LATINO CENTER TO THE CENTER FOR STUDENTS WITH DISABILITIES, GUARDIAN SCHOLARS, AND ATHLETICS TEAMS, THE FOUNDATION FUNDRAISES AND SUPPORTS THE COLLECTIVE EFFORTS TO ADVANCE THE PROGRAMS. ADDITIONALLY, THE FOUNDATION RAISES FUNDING TO ADVANCE ANNUAL PROGRAMS TO INCREASE ENROLLMENT (SMC FOUNDATION MEAL PROJECT), AND ACKNOWLEDGE OUTSTANDING ACHIEVEMENTS (PUBLIC POLICY SYMPOSIUMS). FURTHER, EMERGENCY RELIEF FOR STUDENTS EXPERIENCING UNFORESEEN HARDSHIP IS PROVIDED BY THE FOUNDATION'S ABILITY TO SECURE FUNDS.THE FOUNDATION ALSO PROVIDES FUNDS TO SUPPORT CAMPUS-WIDE ANNUAL EVENTS AT THE COLLEGE SUCH AS VIP DAY, COMMENCEMENT AND ONE-TIME CAMPUS-WIDE EVENTS SUCH AS GUEST LECTURERS.
SCHOLARSHIPS: IN AN EFFORT TO ELIMINATE FINANCIAL BARRIERS AND TO ENSURE ACADEMIC SUCCESS FOR SMC STUDENTS, THE FOUNDATION PROVIDED $871,355 IN SCHOLARSHIPS. THE AWARDS WERE DESIGNATED FOR QUALIFIED STUDENTS WHO WERE INCOMING FRESHMAN, CONTINUING, AND TRANSFER STUDENTS, AIDING AND SUPPORTING THEM IN ACHIEVING THEIR HIGHER EDUCATION GOALS.
SANTA MONICA COLLEGE'S EMERITUS PROGRAM SERVES A POPULATION OF OLDER ADULTS WITH A RICH ARRAY OF COURSES, FREE OF CHARGE. WITH OVER 80 DIFFERENT CLASSES, THE EMERITUS PROGRAM ENGAGES NEARLY 3,000 STUDENTS FROM SANTA MONICA AND ACROSS THE LOS ANGELES BASIN, WHO ATTEND IN PERSON AND ONLINE, CONTINUING THEIR GOAL AS LIFELONG LEARNERS. THE FOUNDATION SERVES AS THE FUNDRAISING PARTNER TO THIS PROGRAM, SUPPORTING THEIR EFFORTS TO RAISE MONEY IN ORDER TO OFFSET THE COST OF THE PROGRAM NOT COVERED BY STATE FUNDING. AS SUCH, NECESSARY EXPENSES ARE DIRECTLY TIED TO THE SUPPORT AND STAFFING PROVIDED TO THE PROGRAM BY THE FOUNDATION.
Get More from Intellispect for FreeCreate a free account to get more data, nonprofit salaries, advanced search and more.
Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Margaret Sohagi Chair | OfficerTrustee | 1 | $0 |
Spring Aspers Vice Chair | OfficerTrustee | 1 | $0 |
Mark Ivener Treasurer | OfficerTrustee | 1 | $0 |
Deanna Hansen Secretary | OfficerTrustee | 1 | $0 |
Don Girard Director | Trustee | 1 | $0 |
Dr Tiffany Grunwald Director | Trustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $285,058 |
| All other contributions, gifts, grants, and similar amounts not included above | $2,791,971 |
| Noncash contributions included in lines 1a–1f | $18,243 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $3,077,029 |
| Total Program Service Revenue | $0 |
| Investment income | $1,486,112 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $1,055,702 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $5,618,843 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $1,731,603 |
| Grants and other assistance to domestic individuals. | $871,355 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $48,127 |
| Compensation of current officers, directors, key employees. | $19,732 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $270,359 |
| Pension plan accruals and contributions | $5,200 |
| Other employee benefits | $22,849 |
| Payroll taxes | $25,564 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $162,500 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $102,763 |
| Fees for services: Other | $29,663 |
| Advertising and promotion | $0 |
| Office expenses | $47,067 |
| Information technology | $55,034 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $3,483 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $518 |
| Insurance | $0 |
| All other expenses | $0 |
| Total functional expenses | $3,381,988 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $589,724 |
| Savings and temporary cash investments | $1,079,773 |
| Pledges and grants receivable | $563,259 |
| 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 | $38,314 |
| Net Land, buildings, and equipment | $0 |
| Investments—publicly traded securities | $28,685,921 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $954,009 |
| Total assets | $31,911,000 |
| Accounts payable and accrued expenses | $89,594 |
| 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 | $0 |
| Total liabilities | $89,594 |
| Net assets without donor restrictions | $2,856,139 |
| Net assets with donor restrictions | $28,965,267 |
| 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 | $31,911,000 |