Luther Burbank Corporation Foundation
- Assets
- $723.1k
- Revenue
- $428.0k
- Investments
- $0.0
- Employees
- 0
- Location
- Santa Rosa, CA
- Founding
- 11/2017
- Data as of
- 12/2021
- EIN
- 82-3293510
Organization Overview
Luther Burbank Corporation Foundation is located in Santa Rosa, CA. The organization was established in 2017. According to its NTEE Classification (M12) the organization is classified as: Fund Raising & Fund Distribution, under the broad grouping of Public Safety, Disaster Preparedness & Relief and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Luther Burbank Corporation 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, Luther Burbank Corporation Foundation generated $428.0k in total revenue. This represents a relatively dramatic decline in revenue. Over the past 4 years, the organization has seen revenues fall by an average of (14.0%) each year. All expenses for the organization totaled $311.3k during the year ending 12/2021. As we would expect to see with falling revenues, expenses have declined by (10.5%) per year over the past 4 years. You can explore the organizations financials more deeply in the financial statements section below.
Since 2018, Luther Burbank Corporation Foundation has awarded 47 individual grants totaling $1,454,738. 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.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2021
Describe the Organization's Mission:
Part 3 - Line 1
MAKING CONTRIBUTIONS FOCUSED ON THE THREE PRIORITY AREAS OF (1) SOCIAL AND HUMAN SERVICES; (2) COMMUNITY DEVELOPMENT; AND (3) EDUCATION.
Describe the Organization's Program Activity:
Part 3 - Line 4a
COMMUNITY DEVELOPMENT - THE FOUNDATION PROVIDES GRANT REQUESTS THAT SUPPORT THE IMPROVEMENT OF LOW-AND MODERATE-INCOME ("LMI") COMMUNITIES THOUGH PROGRAMS THAT: - CREATE AND SUSTAIN HOUSING - DESIGNATED AS AFFORDABLE AND/OR DEEMED IN FEDERAL DISASTER AREAS - PROMOTE ECONOMIC DEVELOPMENT BY PROVIDING FINANCING FOR SMALL BUSINESS OR FARMS - PROVIDE JOB TRAINING AND WORKFORCE DEVELOPMENT
SOCIAL AND HUMAN SERVICES -THE FOUNDATION PROVIDES GRANT REQUESTS TO INDIVIDUALS AND TO SOCIAL AND HUMAN SERVICE ORGANIZATIONS WITHIN LMI COMMUNITIES TO: - PROVIDE BASIC NEEDS ASSISTANCE - ENSURE ACCESS TO HEALTH AND MENTAL HEALTH PROGRAMS - PROMOTE CHILD AND YOUTH SERVICES
EDUCATION - THE FOUNDATION PROVIDES GRANT REQUESTS TO SUPPORT ORGANIZATIONS THAT: - PROMOTE ACADEMIC ACHIEVEMENT FOR LMI STUDENTS WITH A PRIORITY EMPHASIS ON K-12 - PROVIDE TRAINING FOR TEACHERS AND ADMINISTRATORS WORKING WITH LMI STUDENTS - ENCOURAGE ACCESS TO TECHNICAL, POST-SECONDARY EDUCATION OPPORTUNITIES
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Name Not Listed Director | Trustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $381,281 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $46,731 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $428,012 |
| Total Program Service Revenue | $0 |
| 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 | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $428,012 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $288,051 |
| Grants and other assistance to domestic individuals. | $20,500 |
| 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 | $0 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $0 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $2,256 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $493 |
| Advertising and promotion | $0 |
| Office expenses | $0 |
| 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 | $0 |
| Insurance | $0 |
| All other expenses | $0 |
| Total functional expenses | $311,300 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $723,127 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $0 |
| 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 |
| Net Land, buildings, and equipment | $0 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $723,127 |
| Accounts payable and accrued expenses | $0 |
| 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 | $0 |
| Total liabilities | $0 |
| Net assets without donor restrictions | $0 |
| Net assets with donor restrictions | $0 |
| Capital stock or trust principal, or current funds | $723,127 |
| 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 | $723,127 |
Grants Awarded
Over the last fiscal year, Luther Burbank Corporation Foundation has awarded $165,000 in support to 6 organizations.
| Grant Recipient | Amount |
|---|---|
Orange, CA PURPOSE: Homebuyer assistance | $50,000 |
Los Angeles, CA PURPOSE: Housing programs | $40,000 |
Walnut Creek, CA PURPOSE: Financial literacy education | $30,000 |
Santa Rosa, CA PURPOSE: Project tackling poverty | $25,000 |
Santa Rosa, CA PURPOSE: Expansion of business/jobs | $10,000 |
Washington, DC PURPOSE: CA wildfire victim support | $10,000 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
California Fire Foundation Sacramento, CA | $25,027,196 | $6,496,275 |
Daniel R Sayre Memorial Foundation Inc Kailua Kona, HI | $5,480,949 | $8,817,730 |
Development And Relief Foundation Fresno, CA | $2,774,044 | $3,987,429 |
California Volunteers Fund Sacramento, CA | $545,060 | $1,304,666 |
Vca Charities Los Angeles, CA | $1,980,344 | $1,434,046 |
All It Takes Simi Valley, CA | $221,420 | $588,136 |
Public Safety Assistance Foundation Pasadena, CA | $355,808 | $317,167 |
Luther Burbank Corporation Foundation Santa Rosa, CA | $723,127 | $428,012 |
Heroes Of America Foundation Inc Henderson, NV | $486,051 | $400,692 |
Greater Tucson Fire Foundation Tucson, AZ | $1,957,757 | $623,184 |
Cbre Disaster Relief Foundation El Segundo, CA | $0 | $171,444 |
Omega 320 Ministry Inc Los Angeles, CA | $137 | $0 |