Smcu Community Fund
- Assets
- $1.5m
- Revenue
- $7.0m
- Investments
- $0.0
- Employees
- 586
- Location
- Redwood City, CA
- Founding
- Data as of
- 12/2021
- EIN
- 85-0663372
Organization Overview
Smcu Community Fund is located in Redwood City, CA. According to its NTEE Classification (S30) the organization is classified as: Economic Development, under the broad grouping of Community Improvement & Capacity Building and related organizations. As of 12/2021, Smcu Community Fund employed 586 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Smcu Community Fund 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, Smcu Community Fund generated $7.0m in total revenue. This represents a relatively dramatic decline in revenue. Over the past 2 years, the organization has seen revenues fall by an average of (20.8%) each year. All expenses for the organization totaled $7.8m during the year ending 12/2021. As we would expect to see with falling revenues, expenses have declined by (14.9%) per year over the past 2 years. You can explore the organizations financials more deeply in the financial statements section below.
Since 2020, Smcu Community Fund has awarded 1,179 individual grants totaling $16,121,265. 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
THE SMCU COMMUNITY FUND IS A 501(C)(3) NONPROFIT FUND CREATED BY SAN MATEO CREDIT UNION TO SUPPORT OUR COMMITMENT TO FINANCIAL WELLNESS IN OUR COMMUNITY.
Describe the Organization's Program Activity:
Part 3 - Line 4a
RESTAURANT RELIEF - THE PURPOSE OF THIS PROGRAM IS TO PROVIDE ASSISTANCE TO RESTAURANTS, BREWERIES, AND WINERIES WHO HAVE BEEN ADVERSELY IMPACTED BY THE COVID-19 PUBLIC HEALTH EMERGENCY. SUPPORT IS DERIVED FROM LOCAL GOVERNMENT, CORPORATE, AND FOUNDATION CONTRIBUTIONS.
LEARNING HUB - THE PURPOSE OF THIS PROGRAM IS TO PROVIDE SUPPORT TO QUALIFYING OPERATORS OF LEARNING HUBS TO EXPAND AVAILABILITY OF ADDITIONAL LEARNING HUB SLOTS FOR SOCIOECONOMICALLY DISADVANTAGED STUDENTS IN SAN MATEO COUNTY. SUPPORT IS DERIVED FROM LOCAL GOVERNMENT AND FOUNDATION CONTRIBUTIONS.
SMALL BUSINESS AND SBG6 - THE PURPOSE OF THIS PROGRAM IS TO PROVIDE RELIEF TO SMALL BUSINESSES LOCATED IN SAN MATEO COUNTY THAT HAVE BEEN ADVERSELY IMPACTED BY COVID-19. SUPPORT IS DERIVED FROM LOCAL GOVERNMENT AND FOUNDATION CONTRIBUTIONS.
CHILD CARE - THE PURPOSE OF THIS PROGRAM IS TO PROVIDE FUNDING TO SUPPORT CHILD CARE CENTERS AND FAMILY CHILD CARE HOMES. SUPPORT IS DERIVED FROM LOCAL GOVERNMENT AND FOUNDATION CONTRIBUTIONS.SMC STRONG - THE PURPOSE OF THIS PROGRAM IS TO PROVIDE A DONATION TO A COMMUNITY FOUNDATION TO SUPPORT INDIVIDUALS AND FAMILIES. SUPPORT IS DERIVED FROM INDIVIDUAL DONATIONS AND SMCU.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
David Diamond CFO & Treasurer | OfficerTrustee | 1 | $0 |
Valerie Alsip Secretary (thru 12/2021) / Director | OfficerTrustee | 1 | $0 |
Suzanne Knowlton Director / Secretary (start 12/2021) | OfficerTrustee | 1 | $0 |
Wade Painter President | OfficerTrustee | 1 | $0 |
Michele Enriquez-Da Silva Director (through 6/2021) | Trustee | 1 | $0 |
Jennifer Wilkinson Director (through 11/2021) | Trustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $5,726,502 |
| All other contributions, gifts, grants, and similar amounts not included above | $1,235,757 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $6,962,259 |
| Total Program Service Revenue | $0 |
| Investment income | $1,878 |
| 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 | $6,964,137 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $6,742,479 |
| Grants and other assistance to domestic individuals. | $1,000,305 |
| 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 | $1,250 |
| Fees for services: Accounting | $24,015 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $0 |
| Office expenses | $44 |
| 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 | $225 |
| Total functional expenses | $7,768,318 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $30,000 |
| Savings and temporary cash investments | $1,451,621 |
| Pledges and grants receivable | $31,750 |
| 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 | $1,513,371 |
| Accounts payable and accrued expenses | $0 |
| Grants payable | $30,000 |
| Deferred revenue | $910,000 |
| 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 | $940,000 |
| Net assets without donor restrictions | $572,075 |
| Net assets with donor restrictions | $1,296 |
| 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 | $1,513,371 |
Grants Awarded
Over the last fiscal year, Smcu Community Fund has awarded $6,734,478 in support to 480 organizations.
| Grant Recipient | Amount |
|---|---|
San Mateo, CA PURPOSE: TO PROVIDE ASSISTANCE TO LEARNING HUBS | $358,805 |
Menlo Park, CA PURPOSE: TO PROVIDE ASSISTANCE TO LEARNING HUBS | $289,202 |
South San Francisco, CA PURPOSE: TO PROVIDE ASSISTANCE TO LEARNING HUBS | $210,190 |
San Francisco, CA PURPOSE: TO PROVIDE ASSISTANCE TO LEARNING HUBS | $191,888 |
SAN MATEO FOSTER CITY SCHOOL DISTRICT PURPOSE: TO PROVIDE ASSISTANCE TO LEARNING HUBS | $106,500 |
San Mateo, CA PURPOSE: TO PROVIDE ASSISTANCE TO LEARNING HUBS | $102,007 |
Grants Recieved
Over the last fiscal year, we have identified 4 grants that Smcu Community Fund has recieved totaling $467,677.
| Awarding Organization | Amount |
|---|---|
Silicon Valley Community Foundation Mountain View, CA PURPOSE: Community Development | $439,677 |
Smcu Community Fund Redwood City, CA PURPOSE: TO PROVIDE ASSISTANCE TO SMALL BUSINESSES | $10,000 |
Smcu Community Fund Redwood City, CA PURPOSE: TO PROVIDE ASSISTANCE TO SMALL BUSINESSES | $10,000 |
Morgan Stanley Global Impact Funding Trust Inc Indianapolis, IN PURPOSE: UNRESTRICTED GENERAL SUPPORT | $8,000 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
San Francisco Travel Association San Francisco, CA | $17,687,275 | $15,738,684 |
Citadel Economic Development Corporation San Bernardino, CA | $7,215,242 | $16,438,545 |
Greater Phoenix Convention & Visitors Bureau Phoenix, AZ | $19,191,750 | $16,242,591 |
Long Beach Area Convention And Visitors Bureau Inc Long Beach, CA | $4,784,571 | $9,189,036 |
San Luis Obispo Visitors & Conference Bureau Incorporated San Luis Obispo, CA | $7,302,521 | $9,818,447 |
Smcu Community Fund Redwood City, CA | $1,513,371 | $6,964,137 |
Maui Economic Development Board Inc Medb Kihei, HI | $10,649,362 | $7,742,311 |
Greater Phoenix Economic Council Phoenix, AZ | $6,926,984 | $7,545,492 |
Santa Monica Travel & Tourism Santa Monica, CA | $2,868,308 | $7,126,411 |
Providence Foundation Of San Francisco San Francisco, CA | $2,572,916 | $7,012,697 |
La Cocina Inc San Francisco, CA | $10,601,250 | $8,307,558 |
Cplc Nevada Inc Phoenix, AZ | $8,204,824 | $6,300,794 |