Collins Family Legacy Foundation
- Assets
- $1.1m
- Revenue
- $87.4k
- Investments
- $1.1m
- Employees
- 0
- Location
- North Hollywood, CA
- Founding
- 05/2008
- Data as of
- 07/2023
- EIN
- 26-0666517
Organization Overview
Collins Family Legacy Foundation is located in North Hollywood, CA. The organization was established in 2008. 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. Collins Family Legacy 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 07/2023, Collins Family Legacy Foundation generated $87.4k in total revenue. This represents relatively stable growth, over the past 4 years the organization has increased revenue by an average of 5.3% each year. All expenses for the organization totaled $48.7k during the year ending 07/2023. While expenses have increased by 1.0% per year over the past 4 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
990PF
Mission & Program ActivityExcerpts From the 990PF Filing
TAX YEAR
2023
Describe the Organization's Program Activity:
Part 3 - Line 4a
HELPING WITH CHILDRENS SHELTER & TUITION
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Richard Collins Chairman | 6 | $0 | |
Bruce Wyler Board Member | 6 | $0 | |
Cyrus Omead Board Member | 6 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $0 |
| Interest on Savings | $0 |
| Dividends & Interest | $87,419 |
| Net Rental Income | $0 |
| Net Gain on Sale of Assets | $0 |
| Capital Gain Net Income | $0 |
| Net ST Capital Gain | $0 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $0 |
| Other Income | $0 |
| Total Revenue | $87,419 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $0 |
| Other employee salaries and wages | $0 |
| Pension plans, employee benefits | $0 |
| Interest | $0 |
| Taxes | $1,636 |
| Depreciation | $0 |
| Occupancy | $5,500 |
| Travel, conferences, and meetings | $0 |
| Printing and publications | $0 |
| Other expenses | $1,944 |
| Total operating and administrative expenses | $23,159 |
| Contributions, gifts, grants paid | $25,500 |
| Total expenses and disbursements | $48,659 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $32,482 |
| Savings and temporary cash investments | $0 |
| 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 | $0 |
| Net Investments - land, buildings, equipment | $0 |
| Investments—mortgage loans | $0 |
| Investments—other | $234,360 |
| Net Land, buildings, and equipment | $0 |
| Other assets | $0 |
| Total assets | $1,106,739 |
| Accounts payable and accrued expenses | $0 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Mortgages and other notes payable | $0 |
| Other liabilities | $0 |
| Total liabilities | $0 |
Grants Awarded
Over the last fiscal year, Collins Family Legacy Foundation has awarded $25,500 in support to 2 organizations.
| Grant Recipient | Amount |
|---|---|
ACDEMY OF MUSIC AND FINE ARTS PURPOSE: FINANCIAL ASSISTANCE TUITIONFOR STUDENTS IN NEED | $24,000 |
COVENANT HOUSE PURPOSE: FUNDS FOR CARE AND SHELTER OF HOMELESS TEENS | $1,500 |