Ernest Prete Jr Foundation
- Assets
- $5.6m
- Revenue
- $194.0k
- Investments
- $5.5m
- Employees
- 0
- Location
- Encino, CA
- Founding
- 11/1991
- Data as of
- 05/2024
- EIN
- 95-4333283
Organization Overview
Ernest Prete Jr Foundation is located in Encino, CA. The organization was established in 1991. 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. Ernest Prete Jr 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 05/2024, Ernest Prete Jr Foundation generated $194.0k in total revenue. This represents a relatively dramatic decline in revenue. Over the past 8 years, the organization has seen revenues fall by an average of (9.9%) each year. All expenses for the organization totaled $388.9k during the year ending 05/2024. As we would expect to see with falling revenues, expenses have declined by 0.0% per year over the past 8 years. You can explore the organizations financials more deeply in the financial statements section below.
Since 2016, Ernest Prete Jr Foundation has awarded 65 individual grants totaling $1,718,091. 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.
Get More from Intellispect for FreeCreate a free account to get more data, nonprofit salaries, advanced search and more.
Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Mohammad J Virani Director | 20 | $72,000 | |
Leon Small Director | 0 | $0 | |
Rebecca Natalia Director | 0 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $0 |
| Interest on Savings | $172,351 |
| Dividends & Interest | $0 |
| Net Rental Income | $0 |
| Net Gain on Sale of Assets | $21,625 |
| Capital Gain Net Income | $21,625 |
| Net ST Capital Gain | $21,625 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $0 |
| Other Income | $0 |
| Total Revenue | $193,976 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $72,000 |
| Other employee salaries and wages | $0 |
| Pension plans, employee benefits | $0 |
| Interest | $0 |
| Taxes | $9,221 |
| Depreciation | $0 |
| Occupancy | $9,000 |
| Travel, conferences, and meetings | $0 |
| Printing and publications | $0 |
| Other expenses | $58,218 |
| Total operating and administrative expenses | $172,839 |
| Contributions, gifts, grants paid | $216,038 |
| Total expenses and disbursements | $388,877 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $54,282 |
| 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 | $48,130 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $0 |
| Net Investments - land, buildings, equipment | $0 |
| Investments—mortgage loans | $0 |
| Investments—other | $0 |
| Net Land, buildings, and equipment | $0 |
| Other assets | $0 |
| Total assets | $5,618,322 |
| Accounts payable and accrued expenses | $0 |
| 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 | $1,486 |
| Total liabilities | $1,486 |
Grants Awarded
Over the last fiscal year, Ernest Prete Jr Foundation has awarded $216,038 in support to 6 organizations.
| Grant Recipient | Amount |
|---|---|
CREATIVE VISIONS PURPOSE: PROJECT: CANVASING THE WORLD | $5,000 |
CALPOLY POMONA - GIFT PROCESSING PURPOSE: KELLOGG ELEM SCHOOL GARDEN REFURBISHMENT | $20,003 |
GLAZA PURPOSE: SUPPORT ANIMAL WELFARE,CONSERVATION,CAPITAL PROJECTS,COLLIER GARDENS | $60,000 |
HOPE THE MISSION PURPOSE: HOMELESS HOUSINGFACILITIES | $15,300 |
ANEKANT COMMUNITY CENTER PURPOSE: MEDICAL MISSION | $10,000 |
CAL POLY POMONA - FELLOWS PROGRAM PURPOSE: PRETE JR. FELLOWS PROGRAM | $105,735 |