Educational Resource Development Trust
- Assets
- $5.7m
- Revenue
- $3.7m
- Investments
- $0.0
- Employees
- 0
- Location
- Santa Monica, CA
- Founding
- 08/1976
- Data as of
- 06/2023
- EIN
- 51-0153563
Organization Overview
Educational Resource Development Trust is located in Santa Monica, CA. The organization was established in 1976. According to its NTEE Classification (B11) the organization is classified as: Single Organization Support, 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. Educational Resource Development Trust 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 06/2023, Educational Resource Development Trust generated $3.7m in total revenue. This represents a relatively dramatic decline in revenue. Over the past 5 years, the organization has seen revenues fall by an average of (5.9%) each year. All expenses for the organization totaled $4.1m during the year ending 06/2023. As we would expect to see with falling revenues, expenses have declined by (3.3%) per year over the past 5 years. 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
THE FOUNDATION ARRANGES STUDENT EXCHANGES WHEREBY FOREIGN STUDENTS LIVE WITH AN AMERICAN FAMILY WHILE ATTENDING HIGH SCHOOL 468 STUDENTS PARTICIPATED
THE FOUNDATION ARRANGES SHORT-TERM INDIVIDUAL AND GROUP VISITATIONS WHEREBY FOREIGN GROUPS ARE INTRODUCED TO AMERICAN CULTURE 325 INDIVIDUALS PARTICIPATED
THE FOUNDATION PLACES INTERNATIONAL UNIVERSITY-AGE STUDENTS WITH US EMPLOYERS FOR A PERIOD OF UP TO 4 MONTHS DURING THE STUDENTS SUMMER ABROAD 362 PARTICIPATED
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Philip Hollingsworth Sectreasdirector | 0 | $0 | |
Roger Riske Director | 8 | $223,101 | |
Colin Churchill Director | 28 | $71,925 | |
Kelli Jones President | 40 | $158,980 | |
Svetlana Mitchell Director | 0 | $0 | |
Yvette Coffman Employee | 40 | $150,480 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $0 |
| Interest on Savings | $8,014 |
| Dividends & Interest | $163,458 |
| Net Rental Income | $0 |
| Net Gain on Sale of Assets | -$180,102 |
| Capital Gain Net Income | $0 |
| Net ST Capital Gain | $0 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $0 |
| Other Income | $3,757,146 |
| Total Revenue | $3,748,516 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $454,006 |
| Other employee salaries and wages | $1,067,228 |
| Pension plans, employee benefits | $239,635 |
| Interest | $0 |
| Taxes | $107,212 |
| Depreciation | $0 |
| Occupancy | $40,012 |
| Travel, conferences, and meetings | $0 |
| Printing and publications | $0 |
| Other expenses | $1,846,228 |
| Total operating and administrative expenses | $4,084,288 |
| Contributions, gifts, grants paid | $1,500 |
| Total expenses and disbursements | $4,085,788 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $69,246 |
| Savings and temporary cash investments | $5,394,049 |
| 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 | $180,140 |
| Net Investments - land, buildings, equipment | $0 |
| Investments—mortgage loans | $0 |
| Investments—other | $0 |
| Net Land, buildings, and equipment | $0 |
| Other assets | $7,001 |
| Total assets | $5,650,436 |
| Accounts payable and accrued expenses | $100,640 |
| Grants payable | $0 |
| Deferred revenue | $2,741,861 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Mortgages and other notes payable | $0 |
| Other liabilities | $0 |
| Total liabilities | $2,842,501 |
Grants Awarded
Over the last fiscal year, Educational Resource Development Trust has awarded $1,500 in support to 5 organizations.
| Grant Recipient | Amount |
|---|---|
ASB SERRANO HIGH SCHOOL PURPOSE: TO FURTHER THEIR EXEMPT FUNCTIONS | $450 |
ENCORE HIGH SCHOOL PURPOSE: TO FURTHER THEIR EXEMPT FUNCTIONS | $150 |
LUCERNE HIGH SCHOOL PURPOSE: TO FURTHER THEIR EXEMPT FUNCTIONS | $300 |
AMERICAN HIGH SCHOOL PURPOSE: TO FURTHER THEIR EXEMPT FUNCTIONS | $200 |
BEAUMONT HIGH SCHOOL PURPOSE: TO FURTHER THEIR EXEMPT FUNCTIONS | $400 |