Protostar Foundation
- Assets
- $118.1k
- Revenue
- $142.1k
- Investments
- $0.0
- Employees
- 0
- Location
- San Diego, CA
- Founding
- 03/2016
- Data as of
- 12/2022
- EIN
- 81-1864222
Organization Overview
Protostar Foundation is located in San Diego, CA. The organization was established in 2016. According to its NTEE Classification (T12) the organization is classified as: Fund Raising & Fund Distribution, 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. Protostar 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, Protostar Foundation generated $142.1k in total revenue. The organization has seen a slow decline revenue. Over the past 6 years, revenues have fallen by an average of (1.8%) each year. All expenses for the organization totaled $63.1k during the year ending 12/2022. 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
2022
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE FOUNDATION HOSTS THE MATT STEVENSON JUNIOR TENNIS TOURNAMENT, AN ANNUAL USTA-SANCTIONED JUNIOR TENNIS TOURNAMENT, THAT PROVIDES A FORUM FOR PROVIDING EDUCATIONAL INFORMATION TO PRE-TEENS AND TEENS ABOUT MENTAL HEALTH, DEPRESSION, AND SUICIDE PREVENTION. NET PROCEEDS FROM TOURNAMENT BENEFIT THE MATT STEVENSON JUNIOR TENNIS FUND, WHICH IN TURN MAKES GRANTS TO NONPROFIT JUNIOR TENNIS PROGRAMS THAT SERVE KIDS FROM LOW-TO-MODERATE INCOME FAMILIES. ORIGINALLY HOSTED IN SAN DIEGO, CA, THE TOURNAMENT EXPANDED TO NEW YORK AND WASHINGTON, DC DURING 2021.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Gary P Poon President, Chairman | 40 | $0 | |
Peter Leighton Treasurer, Director | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $119,713 |
| Interest on Savings | $0 |
| Dividends & Interest | $0 |
| 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 | $22,409 |
| Total Revenue | $142,122 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $0 |
| Other employee salaries and wages | $0 |
| Pension plans, employee benefits | $0 |
| Interest | $0 |
| Taxes | $70 |
| Depreciation | $0 |
| Occupancy | $0 |
| Travel, conferences, and meetings | $0 |
| Printing and publications | $0 |
| Other expenses | $21,855 |
| Total operating and administrative expenses | $36,137 |
| Contributions, gifts, grants paid | $27,000 |
| Total expenses and disbursements | $63,137 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $98,741 |
| 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 | $7,100 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $12,228 |
| Net Investments - land, buildings, equipment | $0 |
| Investments—mortgage loans | $0 |
| Investments—other | $0 |
| Net Land, buildings, and equipment | $0 |
| Other assets | $0 |
| Total assets | $118,069 |
| Accounts payable and accrued expenses | $84 |
| 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 | $84 |
Grants Awarded
Over the last fiscal year, Protostar Foundation has awarded $27,000 in support to 8 organizations.
| Grant Recipient | Amount |
|---|---|
DIVERSIONARY THEATRE PRODUCTIONS INC PURPOSE: GENERAL | $5,000 |
AMERICAN FOUNDATION FOR SUICIDE PREVENTION PURPOSE: GENERAL | $1,000 |
KINGS COUNTY TENNIS LEAGUE INC PURPOSE: GENERAL | $5,000 |
MOUNTAIN VIEW SPORTS & RACQUET CLUB PURPOSE: GENERAL | $1,500 |
EAST COUNTY COMMUNITY TENNIS ASSOCIATION PURPOSE: GENERAL | $1,500 |
CITY PARKS FOUNDATION PURPOSE: GENERAL | $6,000 |