Lassen College Foundation Inc
- Assets
- $545.3k
- Revenue
- $74.9k
- Investments
- $46.4k
- Employees
- 0
- Location
- Susanville, CA
- Founding
- 12/1977
- Data as of
- 06/2019
- EIN
- 94-2450784
Organization Overview
Lassen College Foundation Inc is located in Susanville, CA. The organization was established in 1977. According to its NTEE Classification (B11) the organization is classified as: Single Organization Support, under the broad grouping of Education and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Lassen College Foundation Inc 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 06/2019, Lassen College Foundation Inc generated $74.9k in total revenue. This represents a relatively dramatic decline in revenue. Over the past 5 years, the organization has seen revenues fall by an average of (8.4%) each year. All expenses for the organization totaled $108.2k during the year ending 06/2019. As we would expect to see with falling revenues, expenses have declined by (8.9%) per year over the past 5 years. You can explore the organizations financials more deeply in the financial statements section below.
Form
990T
Mission & Program ActivityExcerpts From the 990T Filing
TAX YEAR
2019
Describe the Organization's Mission:
Part 3 - Line 1
THE LASSEN COLLEGE FOUNDATION SUPPORTS THE LASSEN COLLEGE MISSION OF PROVIDING OUTSTANDING PROGRAMS FOR ALL THOSE PURSUING HIGHER EDUCATION GOALS THROUGH STUDENT SCHOLARSHIPS SUPPORT AND ADVOCACY.
Describe the Organization's Program Activity:
THE FOUNDATION PROVIDES FUNDS AND SUPPORT FOR COLLEGE PROGRAMS STUDENT AID AND SCHOLARSHIPS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Richard St Peter Treasurer | Officer | 1 | $0 |
Mike O Kelly President | Officer | 2 | $0 |
Chantel Thompson Secretary | Officer | 1 | $0 |
Nicole Kelly Executive Director | Officer | 2 | $0 |
Sophia Wages Vice President | Officer | 2 | $0 |
Maurice Barnetche Member | Trustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Total Revenue from Contributions, Gifts, Grants & Similar | $30,940 |
| Investment income | $79 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $43,839 |
| 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 | $74,858 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic individuals. | $70,478 |
| 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 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 | $812 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $1,335 |
| Office expenses | $4 |
| 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 | $14 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $320 |
| All other expenses | $0 |
| Total functional expenses | $108,152 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $118,807 |
| Savings and temporary cash investments | $45,396 |
| 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 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $46,382 |
| Investments—program-related | $236,564 |
| Intangible assets | $0 |
| Other assets | $500 |
| Total assets | $545,339 |
| Accounts payable and accrued expenses | $0 |
| Grants payable | $67,000 |
| 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 | $5,431 |
| Total liabilities | $72,431 |
| Net assets without donor restrictions | $281,784 |
| Net assets with donor restrictions | $21,124 |
| Capital stock or trust principal, or current funds | $170,000 |
| Paid-in or capital surplus, or land, building, or equipment fund | $0 |
| Total liabilities and net assets/fund balances | $472,908 |
Grants Recieved
Over the last fiscal year, we have identified 2 grants that Lassen College Foundation Inc has recieved totaling $11,434.
| Awarding Organization | Amount |
|---|---|
Foundation For California Community Colleges Sacramento, CA PURPOSE: OSHER SCHOLARSHIP | $11,267 |
Amazonsmile Foundation Seattle, WA PURPOSE: GENERAL SUPPORT | $167 |
Endowment Analysis
| Beg. Balance | $170,000 |
| Ending Balance | $170,000 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
U C San Diego Foundation La Jolla, CA | $1,658,962,820 | $199,905,173 |
California State University Fresno Foundation Fresno, CA | $305,581,286 | $82,049,002 |
University Of Hawaii Foundation Honolulu, HI | $548,406,506 | $76,733,850 |
University Corporation At Monterey Bay Seaside, CA | $199,917,843 | $49,155,763 |
San Jose State University Research Foundation San Jose, CA | $57,091,451 | $53,661,013 |
University Of Nevada-Reno Foundation Reno, NV | $310,760,494 | $35,673,494 |
The U C Davis Foundation Davis, CA | $716,342,130 | $110,976,640 |
Southwestern Law School Los Angeles, CA | $126,801,745 | $54,692,632 |
Associated Students Ucla Los Angeles, CA | $54,580,827 | $39,327,069 |
Csu Fullerton Auxiliary Services Corporation Fullerton, CA | $104,352,109 | $45,637,535 |
New Schools Fund Oakland, CA | $55,397,321 | $41,218,694 |
Chico State Enterprises Chico, CA | $47,170,077 | $46,861,327 |