Foundation For Critical Thinking
- Assets
- $647.5k
- Revenue
- $302.8k
- Investments
- $474.4k
- Employees
- 3
- Location
- Santa Barbara, CA
- Founding
- 10/1995
- Data as of
- 12/2021
- EIN
- 68-0225053
Organization Overview
Foundation For Critical Thinking is located in Santa Barbara, CA. The organization was established in 1995. According to its NTEE Classification (A99) the organization is classified as: Arts, Culture & Humanities N.E.C., under the broad grouping of Arts, Culture & Humanities and related organizations. As of 12/2022, Foundation For Critical Thinking employed 3 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Foundation For Critical Thinking 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 12/2021, Foundation For Critical Thinking generated $302.8k in total revenue. This represents a relatively dramatic decline in revenue. Over the past 7 years, the organization has seen revenues fall by an average of (11.8%) each year. All expenses for the organization totaled $282.3k during the year ending 12/2021. As we would expect to see with falling revenues, expenses have declined by (19.4%) per year over the past 7 years. 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 PROMOTE FAIR-MINDED CRITICAL THINKING.
Describe the Organization's Program Activity:
Part 3 - Line 4a
HOSTED ANNUAL CONFERENCE STRUCTURED TO PLAY A KEY ROLE IN DEFINING, STRUCTURING, ASSESSING, IMPROVING AND ADVANCING THE PRINCIPLES AND BEST PRACTICES OF FAIRMINDED CRITICAL THOUGHT IN EDUCATION AND IN SOCIETY. THE CONFERENCE PROVIDES A UNIQUE OPPORTUNITY FOR PARTICIPANTS TO IMPROVE THEIR UNDERSTANDING OF CRITICAL THINKING, AS WELL AS THEIR ABILITY TO MORE SUBSTANTIVELY FOSTER IT IN THE CLASSROOM AND IN ALL ASPECTS OF THEIR WORK AND LIFE.
HOSTED WORKSHOPS TO FOSTER ESSENTIAL CHANGE IN EDUCATION THROUGH THE CULTIVATION OF FAIRMINDED CRITICAL THINKING. THE WORKSHOPS PROVIDE AN OPPORTUNITY FOR ITS PARTICIPANTS TO LEARN OR DEEPEN THEIR UNDERSTANDING OF THE FOUNDATIONS OF CRITICAL THINKING AND TO CONTEXTUALIZE THEM IN THE PARTICIPANT'S WORK OR TEACHING.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Linda Elder Paul President & CEO | Officer | 30 | $20,650 |
Gerard Nosich Treasurer | Officer | 20 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Total Revenue from Contributions, Gifts, Grants & Similar | $77,148 |
| Investment income | $0 |
| 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 | $3,219 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $302,754 |
| 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. | $60,000 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $71,575 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $4,677 |
| Payroll taxes | $13,427 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $0 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $10,136 |
| Advertising and promotion | $8,680 |
| Office expenses | $8,408 |
| Information technology | $18,564 |
| Royalties | $0 |
| Occupancy | $7,773 |
| Travel | $4,778 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $29,626 |
| Interest | $205 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $20,340 |
| Insurance | $3,125 |
| All other expenses | $0 |
| Total functional expenses | $282,272 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $170,114 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $2,000 |
| 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 | $0 |
| Investments—other securities | $474,419 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $647,474 |
| Accounts payable and accrued expenses | $3,986 |
| 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 | $4,158 |
| Total liabilities | $8,144 |
| 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 | $639,330 |