Mira Costa College Foundation
- Assets
- $20.3m
- Revenue
- $1.5m
- Investments
- $0.0
- Employees
- 0
- Location
- Oceanside, CA
- Founding
- 04/1967
- Data as of
- 06/2022
- EIN
- 95-6151938
Organization Overview
Mira Costa College Foundation is located in Oceanside, CA. The organization was established in 1967. According to its NTEE Classification (B42) the organization is classified as: Undergraduate Colleges, 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. Mira Costa 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, Mira Costa College Foundation generated $1.5m in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 1.7% each year. All expenses for the organization totaled $1.6m during the year ending 06/2022. While expenses have increased by 3.6% 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 FINANCIAL SUPPORT FOR STUDENTS AND PROGRAMS, ACHIEVING EDUCATIONAL OPPORTUNITIES FOR ALL.THE FOUNDATION PARTNERS WITH GENEROUS COMMUNITY MEMBERS TO SUPPORT STUDENT SUCCESS AND INNOVATIVE PROGRAMS. WITH PHILANTHROPIC SUPPORT, STUDENTS HAVE THE RESOURCES TO EARN A DEGREE OR CERTIFICATE, COMPLETE THE FIRST TWO YEARS OF COLLEGE AND TRANSFER TO A FOUR-YEAR UNIVERSITY, AND TAKE CLASSES NEEDED TO ADVANCE THEIR CAREERS OR ACHIEVE LIFELONG LEARNING.
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE FOUNDATION PROVIDES STUDENT SCHOLARSHIPS TO SUPPORT TUITION, EDUCATIONAL MATERIALS, LIVING EXPENSES, AND PAID INTERNSHIPS. NEARLY HALF OF OUR STUDENTS REQUIRE MORE THAN TRADITIONAL FINANCIAL AID CAN OFFER. IN A CLIMATE OF RISING LIVING COSTS AND A PRESSING NEED FOR SKILLED WORKERS, OUR SCHOLARSHIPS ARE NOT JUST HELPFUL THEY'RE ESSENTIAL. THE FOUNDATION IS A CATALYST FOR OPPORTUNITY AND SUCCESS. THIS HOLISTIC APPROACH ENABLES STUDENTS TO FOCUS SOLELY ON THEIR ACADEMIC GROWTH, SETTING THEM UP FOR SUCCESS IN SCHOOL AND BEYOND.
THE FOUNDATION OFFERS EMERGENCY GRANTS AND BASIC NEEDS SUPPORT THAT HAVE A PROVEN, IMMEDIATE IMPACT ON STUDENT SUCCESS. OUR DATA ON PERSISTENCE FROM SPRING 2020 TO SPRING 2022 IS UNEQUIVOCAL: STUDENTS WHO RECEIVE THESE FUNDS ARE FAR MORE LIKELY TO CONTINUE THEIR STUDIES AND EARN THEIR DEGREE OR CERTIFICATE; DIRECT STUDENT SUPPORT IS ONE OF THE MOST EFFECTIVE WAYS TO MAKE AN IMPACT THROUGH PHILANTHROPY. THIS ISN'T JUST SHORT-TERM RELIEF; IT'S A LONG-LASTING INVESTMENT IN ACADEMIC PERSISTENCE AND FUTURE OPPORTUNITIES.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Timothy Flood Former Vice President | OfficerTrustee | 40 | $0 |
Alec Babiarz President (july- Feb) | OfficerTrustee | 2 | $0 |
Bruce Bandemer Treasurer | OfficerTrustee | 1 | $0 |
Hap L'heureux Member | Trustee | 2 | $0 |
Raye Clendening Vice President (july-Feb)president (feb-June) | OfficerTrustee | 2 | $0 |
Barry Johnson Member | Trustee | 2 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $31,700 |
| Related organizations | $0 |
| Government grants | $58,000 |
| All other contributions, gifts, grants, and similar amounts not included above | $1,420,579 |
| Noncash contributions included in lines 1a–1f | $82,261 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $1,510,279 |
| Total Program Service Revenue | $0 |
| Investment income | $42,473 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | -$37,692 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $1,515,060 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $85,920 |
| Grants and other assistance to domestic individuals. | $527,994 |
| 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 | $118,283 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $0 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $12,000 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $39,336 |
| Fees for services: Other | $202,125 |
| Advertising and promotion | $47,365 |
| Office expenses | $224 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $25,091 |
| 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 | $0 |
| Insurance | $13,411 |
| All other expenses | $0 |
| Total functional expenses | $1,648,052 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $1,898,764 |
| Pledges and grants receivable | $645,671 |
| Accounts receivable, net | $58,105 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $426,799 |
| Prepaid expenses and deferred charges | $10,145 |
| Net Land, buildings, and equipment | $0 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $16,428,542 |
| Intangible assets | $0 |
| Other assets | $791,592 |
| Total assets | $20,259,618 |
| Accounts payable and accrued expenses | $160,194 |
| 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 | $160,194 |
| Net assets without donor restrictions | $2,735,337 |
| Net assets with donor restrictions | $17,364,087 |
| 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 | $20,259,618 |