Wine Spectator California Scholarship Foundation
- Assets
- $28.3m
- Revenue
- $2.7m
- Investments
- $0.0
- Employees
- 0
- Location
- New York, NY
- Founding
- 01/1984
- Data as of
- 06/2022
- EIN
- 13-3129027
Organization Overview
Wine Spectator California Scholarship Foundation is located in New York, NY. The organization was established in 1984. According to its NTEE Classification (B82) the organization is classified as: Scholarships & Student Financial Aid, 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. Wine Spectator California Scholarship 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, Wine Spectator California Scholarship Foundation generated $2.7m in total revenue. This represents a relatively dramatic decline in revenue. Over the past 8 years, the organization has seen revenues fall by an average of (5.2%) each year. All expenses for the organization totaled $2.8m during the year ending 06/2022. You can explore the organizations financials more deeply in the financial statements section below.
Since 2015, Wine Spectator California Scholarship Foundation has awarded 41 individual grants totaling $5,766,309. 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
THE ORGANIZATION AWARDS SCHOLARSHIPS AND HONORARIUMS ON AN ANNUAL BASIS
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE WINE EXPERIENCE HELD IN NY CITY - A 3 DAY SEMINAR AND WINE TASTING EVENT RAISES MONIES TO ENABLE THE FOUNDATION TO AWARD SCHOLARSHIPS ON AN ANNUAL BASIS TO SECONDARY SCHOOL STUDENTS TO ENABLE THEM TO PURSUE CAREERS IN THE WINE INDUSTRY, AND ALSO CONTRIBUTES TO EDUCATIONAL PROGRAMS CONDUCTED BY GRANT BENEFICIARIES
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Marvin Shanken Trustee | Officer | 5 | $0 |
Mel Mannion Trustee | Officer | 5 | $0 |
Michael Moaba Trustee | Officer | 5 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Total Revenue from Contributions, Gifts, Grants & Similar | $60,000 |
| Investment income | $588,327 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | -$1,555,144 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $2,744,913 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic individuals. | $0 |
| 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 to disqualified persons | $0 |
| Other salaries and wages | $596,068 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $0 |
| Fees for services: Management | $115,090 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $6,750 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $0 |
| Office expenses | $150 |
| Information technology | $18,145 |
| Royalties | $0 |
| Occupancy | $112,200 |
| Travel | $5,183 |
| 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 | $2,822,936 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $1,723,498 |
| Savings and temporary cash investments | $5,123 |
| 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 |
| Investments—publicly traded securities | $26,540,245 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $28,268,866 |
| Accounts payable and accrued expenses | $0 |
| Grants payable | $0 |
| Deferred revenue | $1,598,104 |
| 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 | $879,614 |
| Total liabilities | $2,477,718 |
| 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 |
| Total liabilities and net assets/fund balances | $25,791,148 |
Grants Awarded
Over the last fiscal year, Wine Spectator California Scholarship Foundation has awarded $488,000 in support to 6 organizations.
| Grant Recipient | Amount |
|---|---|
NAPA VALLEY COLLEGE FOUNDATION PURPOSE: EDUCATION | $160,000 |
UNIVERSITY OF MIAMI PURPOSE: EDUCATION | $75,000 |
EMERIL LAGASSE FOUNDATION PURPOSE: EDUCATION | $50,000 |
UNIVERSITY OF CALIFORNIA DAVIS PURPOSE: EDUCATION | $53,000 |
WASHINGTON STATE UNIVERSITY FOUNDATION PURPOSE: EDUCATION | $100,000 |
JOHNSON & WALES UNIVERSITY PURPOSE: EDUCATION | $50,000 |