John H & Cynthia Lee Smet Foundation
- Assets
- $180.1m
- Revenue
- $55.9m
- Investments
- $179.6m
- Employees
- 0
- Location
- Manhattan Beach, CA
- Founding
- 08/2015
- Data as of
- 12/2021
- EIN
- 95-4399946
Organization Overview
John H & Cynthia Lee Smet Foundation is located in Manhattan Beach, CA. The organization was established in 2015. According to its NTEE Classification (B11) the organization is classified as: Single Organization Support, 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. John H & Cynthia Lee Smet 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 12/2021, John H & Cynthia Lee Smet Foundation generated $55.9m in total revenue. This organization has experienced exceptional growth, as over the past 4 years, it has increased revenue by an average of 65.2% each year . All expenses for the organization totaled $11.3m during the year ending 12/2021. While expenses have increased by 29.9% 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 2019, John H & Cynthia Lee Smet Foundation has awarded 100 individual grants totaling $11,454,694. 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.
Form
990PF
Mission & Program ActivityExcerpts From the 990PF Filing
TAX YEAR
2021
Describe the Organization's Program Activity:
Part 3 - Line 4a
ONWARD READERS AND SCHOLARS HELPS TO INCREASE READING SKILLS FOR STUDENTS K-3RD GRADE AT SELECTED SCHOOLS. THE FUNDS PROVIDED HELP TO PAY FOR SALARIES, PURCHASE ALL BOOKS, MATERIALS, COMPUTERS, SCHOOL CONSTRUCTION AND SUPPLIES NEEDED FOR THE PROGRAM
ST. PIUS X ST. MATTHIAS ACADEMY EDUCATIONAL EXPENSES PAID INCLUDE TUITION FEES, GRANTS, SCHOOL CONSTRUCTION, AND OTHER RELIGIOUS/EDUCATIONAL EXPENSES.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
John H Smet President | 30 | $0 | |
Cynthia Lee Smet Secretary | 30 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $32,375,850 |
| Interest on Savings | $0 |
| Dividends & Interest | $966,121 |
| Net Rental Income | $0 |
| Net Gain on Sale of Assets | $22,338,930 |
| Capital Gain Net Income | $5,043,032 |
| Net ST Capital Gain | $132 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $0 |
| Other Income | $257,270 |
| Total Revenue | $55,938,171 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $455,013 |
| Other employee salaries and wages | $0 |
| Pension plans, employee benefits | $0 |
| Interest | $0 |
| Taxes | $333,249 |
| Depreciation | $0 |
| Occupancy | $71,168 |
| Travel, conferences, and meetings | $0 |
| Printing and publications | $0 |
| Other expenses | $10,029,393 |
| Total operating and administrative expenses | $10,917,049 |
| Contributions, gifts, grants paid | $410,689 |
| Total expenses and disbursements | $11,327,738 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $3,766 |
| Savings and temporary cash investments | $539,012 |
| 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 | $6,457 |
| Net Investments - land, buildings, equipment | $0 |
| Investments—mortgage loans | $0 |
| Investments—other | $152,128,147 |
| Net Land, buildings, and equipment | $0 |
| Other assets | $0 |
| Total assets | $180,146,566 |
| Accounts payable and accrued expenses | $29,147 |
| Grants payable | $6,185,455 |
| Deferred revenue | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Mortgages and other notes payable | $0 |
| Other liabilities | $722,979 |
| Total liabilities | $6,937,581 |
Grants Awarded
Over the last fiscal year, John H & Cynthia Lee Smet Foundation has awarded $6,875,005 in support to 39 organizations.
| Grant Recipient | Amount |
|---|---|
ONWARD CONSTRUCTION PURPOSE: GENERAL PURPOSE | $3,287,496 |
Los Angeles, CA PURPOSE: EDUCATION | $800,000 |
ONWARD READERS & ONWARD 4 EXCELLENCE PURPOSE: EDUCATION | $480,051 |
ONWARD LEADERS PURPOSE: EDUCATION | $429,998 |
ONWARD SCHOLARS PURPOSE: EDUCATION | $388,083 |
PMA OPERATING PURPOSE: GENERAL PURPOSE | $300,000 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Associated Students Ucla Los Angeles, CA | $54,580,827 | $39,327,069 |
Csu Fullerton Auxiliary Services Corporation Fullerton, CA | $104,352,109 | $45,637,535 |
New Schools Fund Oakland, CA | $55,397,321 | $41,218,694 |
Chico State Enterprises Chico, CA | $47,170,077 | $46,861,327 |
Ilead California Charters 1 Acton, CA | $20,389,401 | $46,593,851 |
California State University Long Beach Research Foundation Long Beach, CA | $178,267,984 | $49,511,748 |
The Claremont Colleges Inc Claremont, CA | $182,085,874 | $52,502,841 |
California Polytechnic State University Foundation San Luis Obispo, CA | $434,195,321 | $44,339,782 |
U Of O Foundation Supporting Organization Eugene, OR | $394,248,848 | $33,595,955 |
University Of Nevada Las Vegas Foundation Las Vegas, NV | $436,194,901 | $57,839,511 |
Campanile Foundation San Diego, CA | $517,706,793 | $63,277,722 |
Csula Auxiliary Services Inc Los Angeles, CA | $54,210,339 | $35,550,804 |