First Fruit Inc
- Assets
- $27.1m
- Revenue
- $4.5m
- Investments
- $24.2m
- Employees
- 0
- Location
- Newport Beach, CA
- Founding
- 12/1976
- Data as of
- 12/2021
- EIN
- 95-3081605
Organization Overview
First Fruit Inc is located in Newport Beach, CA. The organization was established in 1976. According to its NTEE Classification (T20) the organization is classified as: Private Grantmaking Foundations, under the broad grouping of Philanthropy, Voluntarism & Grantmaking Foundations and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. First Fruit 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 12/2021, First Fruit Inc generated $4.5m in total revenue. This represents relatively stable growth, over the past 4 years the organization has increased revenue by an average of 4.2% each year. All expenses for the organization totaled $7.1m during the year ending 12/2021. While expenses have increased by 6.6% per year over the past 4 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.
Since 2020, First Fruit Inc has awarded 386 individual grants totaling $12,860,085. 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.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Steve Young Program Officer | 40 | $144,200 | |
Manivanh Khy Chief Of Staff | 40 | $128,288 | |
Robert Martin Executive Director | 32 | $125,000 | |
Kelsie Hamilton Program Associate | 40 | $86,275 | |
Priscilla Shin Grant Analyst | 40 | $70,000 | |
David W Bennett Secretary & Director | 6.5 | $7,500 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $0 |
| Interest on Savings | $655 |
| Dividends & Interest | $504,722 |
| Net Rental Income | $0 |
| Net Gain on Sale of Assets | $2,931,911 |
| Capital Gain Net Income | $2,931,911 |
| Net ST Capital Gain | $0 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $0 |
| Other Income | $1,104,985 |
| Total Revenue | $4,542,273 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $45,000 |
| Other employee salaries and wages | $635,193 |
| Pension plans, employee benefits | $134,056 |
| Interest | $0 |
| Taxes | $254,807 |
| Depreciation | $8,864 |
| Occupancy | $0 |
| Travel, conferences, and meetings | $151,518 |
| Printing and publications | $283 |
| Other expenses | $200,915 |
| Total operating and administrative expenses | $1,618,100 |
| Contributions, gifts, grants paid | $5,454,832 |
| Total expenses and disbursements | $7,072,932 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $221,545 |
| Savings and temporary cash investments | $2,619,568 |
| Net Accounts receivable | $0 |
| Net Pledges Receivable | $0 |
| Grants receivable | $0 |
| Receivables from Officers, Directors, or Controlling Persons | $0 |
| Net other notes and loans receivable | $0 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $8,927 |
| Net Investments - land, buildings, equipment | $0 |
| Investments—mortgage loans | $0 |
| Investments—other | $6,929,313 |
| Net Land, buildings, and equipment | $41,958 |
| Other assets | $0 |
| Total assets | $27,134,851 |
| Accounts payable and accrued expenses | $9,162 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Mortgages and other notes payable | $0 |
| Other liabilities | $0 |
| Total liabilities | $9,162 |
Grants Awarded
Over the last fiscal year, First Fruit Inc has awarded $5,454,832 in support to 159 organizations.
| Grant Recipient | Amount |
|---|---|
Alpharetta, GA PURPOSE: IC 2021 | $500,000 |
WEC INTERNATIONAL PURPOSE: APPROVED BETAL MORTGAGES | $400,000 |
Zeeland, MI PURPOSE: KEY CAPACITY BUILDING INITIATIVES TO REACH 50 BY '25 GOAL | $300,000 |
ELAM MINISTRIES PURPOSE: COURSES: SUPPORTING SAFAR AND WEEKLY FELLOWSHIP GROWTH | $300,000 |
Orlando, FL PURPOSE: NURSING SCHOOL BUILDING | $150,000 |
LEADERSOURCE SGA PURPOSE: STAGE 3 - ORGANIZATIONAL EXPANSION | $150,000 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Mimi And Peter Haas Fund San Francisco, CA | $0 | $22,825,724 |
William K Bowes Jr Foundation San Francisco, CA | $0 | $15,233,813 |
Collins Foundation Portland, OR | $249,591,840 | $5,256,313 |
Walter And Elise Haas Fund San Francisco, CA | $290,773,419 | $45,613,238 |
Lisa And Douglas Goldman Fund San Francisco, CA | $314,443,125 | $25,968,602 |
Wood-Claeyssens Foundation Santa Barbara, CA | $112,450,224 | $19,490,467 |
The Saban Family Foundation Los Angeles, CA | $4,126,107 | $4,076,196 |
Freeport-Mcmoran Copper & Gold Foundation Phoenix, AZ | $2,326,146 | $18,600,000 |
California Winegrowers Foundation Napa, CA | $3,681,527 | $16,676,626 |
Multi-Union Security Trust Fund Glendale, CA | $14,944,884 | $16,888,135 |
Helen And Wil Webster Foundation Arcadia, CA | $240,695,845 | $9,736,121 |
Dart-L Foundation Los Angeles, CA | $255,386,011 | $40,281,490 |