Long Beach City College Foundation
- Assets
- $22.9m
- Revenue
- $4.0m
- Investments
- $848.8k
- Employees
- 11
- Location
- Long Beach, CA
- Founding
- 10/1979
- Data as of
- 06/2021
- EIN
- 95-3297459
Organization Overview
Long Beach City College Foundation is located in Long Beach, CA. The organization was established in 1979. According to its NTEE Classification (B42) the organization is classified as: Undergraduate Colleges, under the broad grouping of Education and related organizations. As of 06/2021, Long Beach City College Foundation employed 11 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Long Beach City College 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, Long Beach City College Foundation generated $4.0m in total revenue. This represents relatively stable growth, over the past 6 years the organization has increased revenue by an average of 1.2% each year. All expenses for the organization totaled $2.4m during the year ending 06/2021. 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
SUPPORT & ENHANCE THE LEARNING ENVIRONMENT OF THE LONG BEACH COMMUNITY COLLEGE DISTRICT.
Describe the Organization's Program Activity:
Part 3 - Line 4a
EDUCATION IS THE MOST IMPORTANT FACTOR THAT DETERMINES WHAT OPPORTUNITIES A PERSON WILL HAVE IN LIFE. LONG BEACH CITY COLLEGE (LBCC) PROVIDES THE EDUCATION AND TRAINING. THE FOUNDATION PROVIDES THE FINANCIAL SUPPORT THAT ALLOWS PEOPLE TO TAKE ADVANTAGE OF THAT EDUCATION AND TRAINING. THE FOUNDATION PROVIDES A VEHICLE FOR FINANCIAL SUPPORT FROM THE COMMUNITY. IT IS ESTIMATED THAT ONE IN THREE LONG BEACH AREA RESIDENTS HAVE ATTENDED LBCC. MANY OF THESE STUDENTS REQUIRED FINANCIAL ASSISTANCE. THE FOUNDATION HAS RAISED OVER $50 MILLION TO PROVIDE SCHOLARSHIPS, DEPARTMENTAL GRANTS, CAMPUS BEAUTIFICATION, AND FACILITIES UPGRADES. LITERALLY THOUSANDS OF STUDENTS HAVE RECEIVED FUNDS TO PAY ENROLLMENT FEES AND BUY BOOKS AND THE NEED TO PROVIDE FINANCIAL ASSISTANCE CONTINUES TODAY.THE FOUNDATION HAS THE LARGEST SCHOLARSHIP PROGRAM OF ANY SOUTHERN CALIFORNIA COMMUNITY COLLEGE. IT GIVES TO MORE STUDENTS THAN ANY OTHER TWO YEAR INSTITUTION AND OFFERS SCHOLARSHIPS TO FACULTY AND STAFF SO THEY MAY INCREASE THEIR KNOWLEDGE IN THEIR CHOSEN PROFESSION OR EMBARK ON A NEW CAREER. DURING THE YEAR, THE FOUNDATION PROVIDED 570 SCHOLARSHIPS AND AWARDS TO QUALIFIED STUDENTS.
SUPPORT THE COLLEGE TO CAREER (C2C) PROGRAM AT LONG BEACH CITY COLLEGE. C2C IS AN INNOVATIVE POST-SECONDARY PROGRAM FOR ADULTS WITH DEVELOPMENTAL DISABILITIES SERVED BY HARBOR REGIONAL CENTER. THE C2C PROGRAM OFFERS AN EXCITING OPPORTUNITY TO EXPERIENCE COMMUNITY COLLEGE, STUDENT HOUSING, AND COLLEGE LIFE. THE C2C PROGRAM WAS TRANSFERRED FROM THE LONG BEACH CITY COLLEGE FOUNDATION TO THE LONG BEACH CITY COLLEGE ON AUGUST 19, 2020.
PROMOTE GENERAL WELFARE OF LONG BEACH CITY COLLEGE BY ASSISTING AND SUPPORTING THE ATTAINMENT OF ATHLETIC, EDUCATIONAL AND CULTURAL GOALS THROUGH GRANTS AND OTHER ASSISTANCE TO ASSOCIATE GROUPS, DEPARTMENTS, FACULTY, AND STAFF.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Paul Kaminski Executive Director, Honorary | OfficerTrustee | 40 | $152,250 |
Dr Serafin Zasueta President | OfficerTrustee | 2 | $0 |
Dr John Fylpaa Vice President | OfficerTrustee | 2 | $0 |
Barbara Ellis Vice President | OfficerTrustee | 2 | $0 |
Rick Duree Member At Large | OfficerTrustee | 2 | $0 |
Jerry Green Member At Large | OfficerTrustee | 2 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $141,255 |
| All other contributions, gifts, grants, and similar amounts not included above | $3,399,670 |
| Noncash contributions included in lines 1a–1f | $14,325 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $3,540,925 |
| Total Program Service Revenue | $71,923 |
| Investment income | $417,146 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | -$265,647 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $4,038,343 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $412,270 |
| Grants and other assistance to domestic individuals. | $926,743 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $174,524 |
| Compensation of current officers, directors, key employees. | $43,631 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $407,071 |
| Pension plan accruals and contributions | $10,611 |
| Other employee benefits | $12,525 |
| Payroll taxes | $43,380 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $55,153 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $69,861 |
| Fees for services: Other | $0 |
| Advertising and promotion | $5,524 |
| Office expenses | $82,901 |
| 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 | $1,438 |
| Interest | $960 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $6,169 |
| Insurance | $6,568 |
| All other expenses | $0 |
| Total functional expenses | $2,365,898 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $33,940 |
| Savings and temporary cash investments | $276,887 |
| Pledges and grants receivable | $654,001 |
| Accounts receivable, net | $354,955 |
| 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 | $2,238 |
| Net Land, buildings, and equipment | $43,361 |
| Investments—publicly traded securities | $18,342,661 |
| Investments—other securities | $848,774 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $2,386,512 |
| Total assets | $22,943,329 |
| Accounts payable and accrued expenses | $165,323 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| Tax-exempt bond liabilities | $0 |
| Escrow or custodial account liability | $235,860 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $0 |
| Unsecured mortgages and notes payable | $120,657 |
| Other liabilities | $0 |
| Total liabilities | $521,840 |
| Net assets without donor restrictions | $3,566,106 |
| Net assets with donor restrictions | $18,855,383 |
| 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 | $22,943,329 |
Grants Awarded
Over the last fiscal year, Long Beach City College Foundation has awarded $2,005,184 in support to 2 organizations.
| Grant Recipient | Amount |
|---|---|
LONG BEACH COMMUNITY COLLEGE DISTRICT PURPOSE: INSTITUTIONAL SUPPORT | $1,502,482 |
LBCC ASSOCIATE GROUPS PURPOSE: PROGRAM SUPPORT | $502,702 |
Grants Recieved
Over the last fiscal year, we have identified 12 grants that Long Beach City College Foundation has recieved totaling $857,520.
| Awarding Organization | Amount |
|---|---|
John Apostle And Helen Apostle Foundation Newport Beach, CA PURPOSE: SOCIAL SERVICE | $390,000 |
John Apostle And Helen Apostle Foundation Newport Beach, CA PURPOSE: SOCIAL SERVICE | $130,000 |
Schwab Charitable Fund San Francisco, CA PURPOSE: EDUCATION | $102,050 |
Long Beach Community Foundation Long Beach, CA PURPOSE: GENERAL SUPPORT | $95,313 |
Foundation For California Community Colleges Sacramento, CA PURPOSE: OSHER SCHOLARSHIP | $56,767 |
American Endowment Foundation Hudson, OH PURPOSE: EDUCATIONAL | $25,500 |
Endowment Analysis
| Beg. Balance | $9,853,787 |
| Earnings | $2,893,264 |
| Admin Expense | $53,583 |
| Net Contributions | $1,817,441 |
| Other Expense | $108,477 |
| Ending Balance | $14,402,432 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Columbia College Tarzana, CA | $10,228,800 | $19,320,948 |
University Of The People Pasadena, CA | $8,426,107 | $18,756,835 |
Foundation For Hispanic Education San Jose, CA | $9,597,564 | $17,861,109 |
Providence Christian College Pasadena, CA | $1,662,159 | $9,814,467 |
San Francisco College Track Qalicb Inc Oakland, CA | $0 | $8,636,000 |
Humphreys College Stockton, CA | $28,503,602 | $8,301,244 |
Humboldt State University Foundation Arcata, CA | $57,544,376 | $13,924,277 |
California Maritime Academy Foundation Inc Vallejo, CA | $17,506,406 | $6,962,051 |
Alliance College-Ready Middle Academy #4 Los Angeles, CA | $0 | $3,113,853 |
Southern Oregon University Foundation Ashland, OR | $42,053,103 | $5,034,083 |
Cuesta College Foundation San Luis Obispo, CA | $44,331,740 | $6,237,034 |
New Hope Christian College Eugene, OR | $9,032,074 | $3,256,187 |