Monterey Wine Festival Educational Foundation Inc
- Assets
- $41.2k
- Revenue
- $0.0
- Investments
- $0.0
- Employees
- 0
- Location
- Monterey, CA
- Founding
- 06/2016
- Data as of
- 07/2019
- EIN
- 94-2702502
Organization Overview
Monterey Wine Festival Educational Foundation Inc is located in Monterey, CA. The organization was established in 2016. According to its NTEE Classification (B82) the organization is classified as: Scholarships & Student Financial Aid, 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. Monterey Wine Festival Educational 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 07/2019, Monterey Wine Festival Educational Foundation Inc generated $49.0 in total revenue. All expenses for the organization totaled $19.5k during the year ending 07/2019.
Form
990EZ
Mission & Program ActivityExcerpts From the 990EZ Filing
TAX YEAR
2019
Describe the Organization's Program Activity:
Part 3
THE ORGANIZATIONS PURPOSE IS TO PROVIDE EDUCATIONAL SCHOLARSHIP FUNDS. ITS FUNDING IS OBTAINED THROUGH AUCTIONS OF WINE AND OTHER IN-KIND ITEMS, MOST OF WHICH ARE DONATED TO THE ORGANIZATION, INCLUDING SERVICES AND FACILITIES NECESSARY FOR THE AUCTION, BY THE BOARD OF DIRECTORS AND OTHER SUPPORTING INDIVIDUALS. THE REPORTED IN-KIND VALUE OF THESE DONATIONS IS THE AMOUNT RECEIVED AT AUCTION, OR FAIR-MARKET VALUE IF KNOWN. FOR THE REPORTING YEAR ENDED JULY 31, 2019 THE ANNUAL AUCTION WAS TAKEN OVER BY ANOTHER ORGANIZATION, FORMERLY A GRANT RECIPIENT.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Carol Chorbajian President | 2 | $0 | |
Michael Zimmerman Sec/treasurer | 2 | $0 | |
Ted Balesteri Director | 2 | $0 | |
Richard G Peterson PHD Director | 2 | $0 | |
Fred Dame Ms Director | 2 | $0 | |
David Armanasco Director | 2 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Total Revenue from Contributions, Gifts, Grants & Similar | $0 |
| Total Program Service Revenue | $0 |
| Membership dues | $0 |
| Investment income | $49 |
| Gain or Loss | $0 |
| Net Income from Gaming & Fundraising | $0 |
| Other Revenue | $0 |
| Total Revenue | $49 |
| Statement of Expenses | |
|---|---|
| Grants and similar amounts paid | $0 |
| Benefits paid to or for members | $0 |
| Salaries, other compensation, and employee benefits | $0 |
| Professional fees and other payments to independent contractors | $3,252 |
| Occupancy, rent, utilities, and maintenance | $0 |
| Printing, publications, postage, and shipping | $0 |
| Other expenses | $1,209 |
| Total expenses | $19,461 |
| Balance Sheet | |
|---|---|
| Cash, savings, and investments | $41,203 |
| Other assets | $0 |
| Total assets | $41,203 |
| Total liabilities | $0 |
| Net assets or fund balances | $41,203 |
Grants Awarded
Over the last fiscal year, Monterey Wine Festival Educational Foundation Inc has awarded $285,000 in support to 3 organizations.
| Grant Recipient | Amount |
|---|---|
COMMUNITY FOUNDATION FOR MC PURPOSE: Community Grants and Scholarships | $10,000 |
NATIONAL RESTAURANT ASSOC ED PURPOSE: Scholarships | $250,000 |
RANCHO CIELO YOUTH CAMPUS PURPOSE: Disadvantaged Youth Programs | $25,000 |