Mira Costa College Foundation
- Assets
- $23.0m
- Revenue
- $1.7m
- Investments
- $0.0
- Employees
- 0
- Location
- Oceanside, CA
- Founding
- 04/1967
- Data as of
- 06/2021
- 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 06/2021, Mira Costa College Foundation generated $1.7m in total revenue. This represents relatively stable growth, over the past 6 years the organization has increased revenue by an average of 4.2% each year. All expenses for the organization totaled $1.3m during the year ending 06/2021. While expenses have increased by 0.3% per year over the past 6 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
2021
Describe the Organization's Mission:
Part 3 - Line 1
TO PROVIDE SUPPLEMENTAL FINANCIAL SUPPORT FOR THE EDUCATIONAL PROGRAMS OF MIRACOSTA COLLEGE DISTRICT
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE ORGANIZATION PROVIDES FUNDING FOR THE MIRACOSTA COLLEGE SCHOLARSHIP PROGRAM
THE ORGANIZATION PROVIDES SUPPLEMENTAL FINANCIAL SUPPORT FOR THE EDUCATIONAL PROGRAMS OF MIRACOSTA COLLEGE.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Bruce Bandemer Treasurer | OfficerTrustee | 2 | $0 |
Raye Clendening President | OfficerTrustee | 2 | $0 |
David Mcguigan Vice President | OfficerTrustee | 2 | $0 |
Timothy Flood Vice President | Officer | 40 | $0 |
Stephen L'heureux Member | Trustee | 2 | $0 |
Alec Babiarz Member | Trustee | 2 | $0 |
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 | $1,719,310 |
| Noncash contributions included in lines 1a–1f | $530,953 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $1,719,310 |
| Total Program Service Revenue | $0 |
| Investment income | $1,304 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $1,720,614 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $145,477 |
| Grants and other assistance to domestic individuals. | $442,077 |
| 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 | $185,018 |
| 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 | $0 |
| Fees for services: Other | $234,801 |
| Advertising and promotion | $20,084 |
| Office expenses | $0 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $6,373 |
| 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 | $0 |
| All other expenses | $0 |
| Total functional expenses | $1,307,765 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $1,284,580 |
| Pledges and grants receivable | $1,274,049 |
| Accounts receivable, net | $183 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $417,563 |
| Prepaid expenses and deferred charges | $0 |
| Net Land, buildings, and equipment | $0 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $19,075,500 |
| Intangible assets | $0 |
| Other assets | $949,485 |
| Total assets | $23,001,360 |
| Accounts payable and accrued expenses | $76,864 |
| 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 | $76,864 |
| Net assets without donor restrictions | $2,352,247 |
| Net assets with donor restrictions | $20,572,249 |
| 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 | $23,001,360 |
Grants Recieved
Over the last fiscal year, we have identified 1 grants that Mira Costa College Foundation has recieved totaling $4,000.
| Awarding Organization | Amount |
|---|---|
Stein Family Foundation San Diego, CA PURPOSE: GENERAL OPERATING EXPENSES | $4,000 |
Endowment Analysis
| Beg. Balance | $13,449,963 |
| Earnings | $3,755,317 |
| Net Contributions | $61,011 |
| Other Expense | $702,795 |
| Ending Balance | $16,563,496 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Columbia College Tarzana, CA | $10,228,800 | $19,320,948 |
University Of The People Pasadena, CA | $8,426,107 | $18,756,835 |
Foundation For Hispanic Education San Jose, CA | $9,597,564 | $17,861,109 |
Providence Christian College Pasadena, CA | $1,662,159 | $9,814,467 |
San Francisco College Track Qalicb Inc Oakland, CA | $0 | $8,636,000 |
Humphreys College Stockton, CA | $28,503,602 | $8,301,244 |
Humboldt State University Foundation Arcata, CA | $57,544,376 | $13,924,277 |
California Maritime Academy Foundation Inc Vallejo, CA | $17,506,406 | $6,962,051 |
Alliance College-Ready Middle Academy #4 Los Angeles, CA | $0 | $3,113,853 |
Southern Oregon University Foundation Ashland, OR | $42,053,103 | $5,034,083 |
Cuesta College Foundation San Luis Obispo, CA | $44,331,740 | $6,237,034 |
New Hope Christian College Eugene, OR | $9,032,074 | $3,256,187 |