Monterey Peninsula Foundation
- Assets
- $50.4m
- Revenue
- $28.3m
- Investments
- $26.6m
- Employees
- 21
- Location
- Monterey, CA
- Founding
- 10/2015
- Data as of
- 06/2021
- EIN
- 94-2541783
Organization Overview
Monterey Peninsula Foundation is located in Monterey, CA. The organization was established in 2015. 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. As of 06/2022, Monterey Peninsula Foundation employed 21 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Monterey Peninsula 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 06/2021, Monterey Peninsula Foundation generated $28.3m in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 1.1% each year. All expenses for the organization totaled $27.9m during the year ending 06/2021. While expenses have increased by 1.1% 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 ENHANCE THE QUALITY OF LIFE IN MONTEREY COUNTY AND SURROUNDING AREAS THROUGH THE STRATEGIC DISBURSEMENT OF CHARTIABLE FUNDS GENERATED BY HOSTING THE AT&T PEBBLE BEACH PRO-AM AND THE PURE INSURANCE CHAMPIONSHIP AT PEBBLE BEACH.
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE MONTEREY PENINSULA FOUNDATION ENHANCES THE QUALITY OF LIFE IN MONTEREY COUNTY AND SURROUNDING AREAS THROUGH STRATEGIC DISBURSEMENT OF CHARITABLE FUNDS GENERATED BY HOSTING THE AT&T PEBBLE BEACH PRO-AM AND THE PURE INSURANCE CHAMPIONSHIP AT PEBBLE BEACH. THE FOUNDATION PROVIDED 135 GRANTS, 53 TOURNAMENT RELATED GIFTS, 25 SERVICE ORGANIZATION DONATIONS, AND 20 SPONSORSHIPS AND OTHER GIFTS DURING FISCAL YEAR ENDING 6/30/2022.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Steve John CEO | Officer | 40 | $337,604 |
Morgan Falor Executive Dir. | Officer | 40 | $204,258 |
Lesley Varney Dir. Marketing | 40 | $158,802 | |
Doug Mackenzie Vice Chairman | OfficerTrustee | 3 | $0 |
Clint Eastwood Chairman | OfficerTrustee | 3 | $0 |
Peter Ueberroth Vice Chairman | OfficerTrustee | 3 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Hns Sports Group Llc Tournament Consultant | 6/29/21 | $259,300 |
Rrmc Holdings Llc Rent | 6/29/21 | $143,284 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Total Revenue from Contributions, Gifts, Grants & Similar | $2,573,725 |
| Investment income | $390,420 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $227,424 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $28,291,060 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic individuals. | $0 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $573,173 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $956,935 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $339,102 |
| Payroll taxes | $97,623 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $0 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $278,156 |
| Fees for services: Other | $132,542 |
| Advertising and promotion | $702 |
| Office expenses | $98,460 |
| Information technology | $104,037 |
| Royalties | $0 |
| Occupancy | $204,588 |
| Travel | $588 |
| 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 | $671,930 |
| Insurance | $20,330 |
| All other expenses | $0 |
| Total functional expenses | $27,939,277 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $6,640,974 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $471,628 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $207,396 |
| Prepaid expenses and deferred charges | $102,532 |
| Investments—publicly traded securities | $14,376,654 |
| Investments—other securities | $26,595,925 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $62,601 |
| Total assets | $50,385,331 |
| Accounts payable and accrued expenses | $934,258 |
| Grants payable | $976,610 |
| Deferred revenue | $3,562,440 |
| 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 | $5,473,308 |
| Net assets without donor restrictions | $0 |
| Net assets with donor restrictions | $0 |
| Capital stock or trust principal, or current funds | $0 |
| Paid-in or capital surplus, or land, building, or equipment fund | $0 |
| Total liabilities and net assets/fund balances | $44,912,023 |
Grants Awarded
Over the last fiscal year, Monterey Peninsula Foundation has awarded $12,994,776 in support to 166 organizations.
| Grant Recipient | Amount |
|---|---|
Monterey, CA PURPOSE: MONTEREY EXPERIENCE PROJECT | $830,000 |
Seaside, CA PURPOSE: CAPITAL AND PROGRAM SUPPORT | $755,000 |
Salinas, CA PURPOSE: 2015 CHARITY MATCH | $750,000 |
FIRST 5 MONTEREY COUNTY PURPOSE: EARLY CHILDHOOD EDUCATION PROGRAMS | $500,000 |
Salinas, CA PURPOSE: OPERATING AND CAPITAL SUPPORT | $369,776 |
MPUSD PURPOSE: COLLEGE PREP AND EQUIPMENT | $350,000 |
Grants Recieved
Over the last fiscal year, we have identified 29 grants that Monterey Peninsula Foundation has recieved totaling $1,525,105.
| Awarding Organization | Amount |
|---|---|
Schwab Charitable Fund San Francisco, CA PURPOSE: PUBLIC, SOCIETAL BENEFIT | $279,000 |
Pga Tour Inc Ponte Vedra Beach, FL PURPOSE: GENERAL SUPPORT | $275,000 |
Ayco Charitable Foundation Cohoes, NY PURPOSE: COMMUNITY & HUMAN SERVICES | $100,000 |
Coatue Foundation New York, NY PURPOSE: GENERAL CHARITABLE PURPOSES | $100,000 |
Stephen Mack And Kelly Mack Familyfoundation Inc New York, NY PURPOSE: EXEMPT PURPOSE | $100,000 |
American Online Giving Foundation Inc Newark, DE PURPOSE: GENERAL SUPPORT | $97,469 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Bright Funds Foundation San Jose, CA | $23,418,833 | $59,277,249 |
Monterey Peninsula Foundation Monterey, CA | $50,385,331 | $28,291,060 |
Tiger Woods Charity Event Corp Irvine, CA | $9,536,474 | $23,227,782 |
Pledgeling Foundation Venice, CA | $2,856,994 | $17,411,331 |
Social Impact Fund Los Angeles, CA | $12,584,440 | $14,562,924 |
Solidaire Network Inc Oakland, CA | $12,776,145 | $7,898,596 |
Century Club Of San Diego La Jolla, CA | $2,243,411 | $13,615,886 |
Eat Learn Play Foundation Oakland, CA | $9,809,770 | $13,607,001 |
Cilhaas Supporting Foundation Alameda, CA | $0 | $0 |
Jacquie Foundation Incline Village, NV | $0 | -$1,353,234 |
Patricia And Paul Bragg Foundation Santa Barbara, CA | $96,344,460 | $2,462,516 |
Devto Support Foundation Newport Beach, CA | $95,101,323 | $1,275,327 |