The Leo M Shortino Foundation
- Assets
- $57.1m
- Revenue
- $1.6m
- Investments
- $56.0m
- Employees
- 0
- Location
- San Jose, CA
- Founding
- 05/1991
- Data as of
- 12/2022
- EIN
- 68-0237238
Organization Overview
The Leo M Shortino Foundation is located in San Jose, CA. The organization was established in 1991. According to its NTEE Classification (T20) the organization is classified as: Private Grantmaking Foundations, under the broad grouping of Philanthropy, Voluntarism & Grantmaking Foundations and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Leo M Shortino 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 12/2022, Leo M Shortino Foundation generated $1.6m 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 (4.2%) each year. All expenses for the organization totaled $4.6m during the year ending 12/2022. You can explore the organizations financials more deeply in the financial statements section below.
Since 2015, Leo M Shortino Foundation has awarded 747 individual grants totaling $24,428,428. 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.
Get More from Intellispect for FreeCreate a free account to get more data, nonprofit salaries, advanced search and more.
Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Frank Boitano Chairman | 2 | $5,000 | |
Ricardo Benavidez Vice Chair | 2 | $5,000 | |
David Heiman Treasurer | 2 | $5,000 | |
Linda Murray Secretary | 2 | $5,000 | |
Gerald T Wade Jr Board Member | 2 | $5,000 | |
Gary T Shara Board Member | 2 | $5,000 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $0 |
| Interest on Savings | $0 |
| Dividends & Interest | $235,982 |
| Net Rental Income | $557,080 |
| Net Gain on Sale of Assets | -$187,004 |
| Capital Gain Net Income | $0 |
| Net ST Capital Gain | $0 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $0 |
| Other Income | $2,485 |
| Total Revenue | $1,648,830 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $224,000 |
| Other employee salaries and wages | $93,640 |
| Pension plans, employee benefits | $14,751 |
| Interest | $0 |
| Taxes | $12,120 |
| Depreciation | $876 |
| Occupancy | $9,000 |
| Travel, conferences, and meetings | $0 |
| Printing and publications | $0 |
| Other expenses | $585,600 |
| Total operating and administrative expenses | $1,321,979 |
| Contributions, gifts, grants paid | $3,285,000 |
| Total expenses and disbursements | $4,606,979 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $669,663 |
| Savings and temporary cash investments | $176,679 |
| 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 | $750 |
| Net Investments - land, buildings, equipment | $0 |
| Investments—mortgage loans | $0 |
| Investments—other | $48,580,918 |
| Net Land, buildings, and equipment | $4,380 |
| Other assets | $239,772 |
| Total assets | $57,131,439 |
| Accounts payable and accrued expenses | $119,673 |
| Grants payable | $953,000 |
| Deferred revenue | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Mortgages and other notes payable | $0 |
| Other liabilities | $280,000 |
| Total liabilities | $1,352,673 |
Grants Awarded
Over the last fiscal year, The Leo M Shortino Foundation has awarded $3,752,500 in support to 100 organizations.
| Grant Recipient | Amount |
|---|---|
10000 DEGREES PURPOSE: COLLEGE ACCESS AND SUPPORT PROGRAM | $50,000 |
ACE CHARTER SCHOOL PURPOSE: ACE CHARTER HIGH SCHOOL: COLLEGE SUCCESS PROGRAM | $42,000 |
AFRICAN AMERICAN COMMUNITY SERVICES AGENCY PURPOSE: GENERAL OPERTATING SUPPORT | $26,000 |
AMIGOS DE GUADALUPE CENTER FOR JUSTICE AND EMPOWERMENT PURPOSE: GENERAL OPERTATING SUPPORT | $30,000 |
AMIGOS DE GUADALUPE CENTER FOR JUSTICE AND EMPOWERMENT PURPOSE: ACQUISITION OF THE CHAVEZ FAMILY CENTER FOR COMMUNITY ACTION AND LIVING MUSEUM | $100,000 |
ALUM ROCK COUNSELING CENTER PURPOSE: OCALA MENTORING PROGRAM | $35,000 |