Monterey Peninsula College Foundation
- Assets
- $12.4m
- Revenue
- $2.6m
- Investments
- $10.7m
- Employees
- 6
- Location
- Monterey, CA
- Founding
- 07/1995
- Data as of
- 12/2021
- EIN
- 77-0391075
Organization Overview
Monterey Peninsula College Foundation is located in Monterey, CA. The organization was established in 1995. According to its NTEE Classification (B11) the organization is classified as: Single Organization Support, under the broad grouping of Education and related organizations. As of 12/2021, Monterey Peninsula College Foundation employed 6 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Monterey Peninsula College 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 12/2021, Monterey Peninsula College Foundation generated $2.6m in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 6.7% each year. All expenses for the organization totaled $1.8m during the year ending 12/2021. While expenses have increased by 3.8% per year over the past 7 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
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2021
Describe the Organization's Mission:
Part 3 - Line 1
TO ADVANCE THE EDUCATIONAL EXPERIENCE OF STUDENTS AND FACULTY OF MONTEREY PENINSULA COLLEGE
Describe the Organization's Program Activity:
Part 3 - Line 4a
INSTRUCTIONAL & TEACHING MATERIALS AND EDUCATIONAL PROGRAM SUPPORT FOR MONTEREY PENINSULA COLLEGE
SCHOLARSHIPS AND GRANTS TO STUDENTS OF MONTEREY PENINSULA COLLEGE, A PUBLIC EDUCATIONAL INSTITUTION.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Rob Lee President | OfficerTrustee | 4 | $0 |
Susie Boutonnet Secretary | OfficerTrustee | 3 | $0 |
Jeremy Green Treasurer | OfficerTrustee | 2 | $0 |
Rebecca Michael Executive Director/non Vot | Officer | 40 | $0 |
David Martin Director | Trustee | 2 | $0 |
Steve Haigler Director | Trustee | 2 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $93,150 |
| Related organizations | $0 |
| Government grants | $1,940,306 |
| All other contributions, gifts, grants, and similar amounts not included above | $0 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $2,033,456 |
| Total Program Service Revenue | $142,529 |
| Investment income | $260,644 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $196,215 |
| Net Income from Fundraising Events | -$23,807 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $2,609,037 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $201,944 |
| Grants and other assistance to domestic individuals. | $1,024,743 |
| 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 of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $337,058 |
| Pension plan accruals and contributions | $18,306 |
| Other employee benefits | $35,361 |
| Payroll taxes | $26,475 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $43,316 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $99,146 |
| Fees for services: Other | $0 |
| Advertising and promotion | $18,589 |
| Office expenses | $9,660 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $0 |
| 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 | $1,464 |
| Insurance | $0 |
| All other expenses | $2,878 |
| Total functional expenses | $1,818,940 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $1,144,222 |
| Pledges and grants receivable | $82,143 |
| Accounts receivable, net | $6,613 |
| 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 | $2,755 |
| Net Land, buildings, and equipment | $3,428 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $10,727,094 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $480,305 |
| Total assets | $12,446,560 |
| Accounts payable and accrued expenses | $67,221 |
| 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 | $1,195,528 |
| Total liabilities | $1,262,749 |
| Net assets without donor restrictions | $1,198,368 |
| Net assets with donor restrictions | $9,985,443 |
| Capital stock or trust principal, or current funds | $0 |
| Paid-in or capital surplus, or land, building, or equipment fund | $0 |
| Retained earnings, endowment, accumulated income, or other funds | $0 |
| Total liabilities and net assets/fund balances | $12,446,560 |
Grants Recieved
Over the last fiscal year, we have identified 1 grants that Monterey Peninsula College Foundation has recieved totaling $0.
| Awarding Organization | Amount |
|---|---|
Hornik Family Foundation Inc Orlando, FL PURPOSE: HORNIK FAMILY FOUNDATION SCHOLARSHIP FOR MERIT IN STEM | $0 |
Endowment Analysis
| Beg. Balance | $6,955,771 |
| Earnings | $916,402 |
| Net Contributions | $436,339 |
| Other Expense | $222,282 |
| Ending Balance | $8,086,230 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
The University Corporation San Francisco State San Francisco, CA | $47,309,090 | $29,247,706 |
California State University Dominguez Hills Foundation Carson, CA | $11,765,317 | $14,222,352 |
Northern Arizona University Fdn Inc Flagstaff, AZ | $256,288,832 | $37,761,443 |
Allan Hancock College Foundation Santa Maria, CA | $20,101,421 | $6,236,200 |
Wave Property Inc Malibu, CA | $0 | -$40,507 |
U C Riverside Foundation Riverside, CA | $204,662,854 | $24,632,492 |
San Francisco State University Foundation San Francisco, CA | $183,676,818 | $22,479,029 |
10000 Degrees San Rafael, CA | $19,169,911 | $12,132,333 |
Klare Holdings Los Angeles, CA | $259,758,492 | $15,264,279 |
California State University - Northridge Foundation Northridge, CA | $300,894,352 | $70,202,583 |
John H & Cynthia Lee Smet Foundation Manhattan Beach, CA | $180,146,566 | $55,938,171 |
Riverside County Office Of Education Foundation Riverside, CA | $343,683 | $10,179,019 |