The Tom Wathen Center
- Assets
- $25.4m
- Revenue
- $1.6m
- Investments
- $1.2m
- Employees
- 12
- Location
- Riverside, CA
- Founding
- 07/2018
- Data as of
- 12/2020
- EIN
- 95-4752331
Organization Overview
The Tom Wathen Center is located in Riverside, CA. The organization was established in 2018. According to its NTEE Classification (T22) the organization is classified as: Private Independent Foundations, under the broad grouping of Philanthropy, Voluntarism & Grantmaking Foundations and related organizations. As of 12/2021, Tom Wathen Center employed 12 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Tom Wathen Center 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 12/2020, Tom Wathen Center generated $1.6m in total revenue. This represents a relatively dramatic decline in revenue. Over the past 4 years, the organization has seen revenues fall by an average of (39.4%) each year. All expenses for the organization totaled $1.3m during the year ending 12/2020. 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
2020
Describe the Organization's Mission:
Part 3 - Line 1
THE ORGANIZATION IS DEDICATED TO USE AVIATION TO STIMULATE INTEREST AND COMPETENCE IN SCIENCE, TECHNOLOGY, ENGINEERING AND MATHEMATICS.
Describe the Organization's Program Activity:
Part 3 - Line 4a
SEE STATEMENT ATTACHED.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Jon Goldenbaum Director And CEO | OfficerTrustee | 25 | $197,814 |
Patrick J Halloran Trustee Emeritus | Trustee | 1 | $0 |
Kevin A Mckenzie Executive Committee Trustee | Trustee | 5 | $0 |
John D Lyon Trustee Emeritus And Secretary | Trustee | 10 | $0 |
Joe Fisher Trustee | Trustee | 1 | $0 |
Granger Haugh Trustee | Trustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $1,271,143 |
| Noncash contributions included in lines 1a–1f | $91,000 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $1,271,143 |
| Total Program Service Revenue | $0 |
| Investment income | $96,758 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $177,250 |
| Net Gain/Loss on Asset Sales | $59,949 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $1,621,606 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $0 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $635,869 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $67,470 |
| Payroll taxes | $49,312 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $87,247 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $30,826 |
| Fees for services: Other | $0 |
| Advertising and promotion | $2,087 |
| Office expenses | $15,524 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $142,005 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $468 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $65,392 |
| All other expenses | $15,292 |
| Total functional expenses | $1,299,427 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $989 |
| Savings and temporary cash investments | $2,284,123 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $17,932 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $66,659 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $0 |
| Net Land, buildings, and equipment | $17,451,826 |
| Investments—publicly traded securities | $4,294,490 |
| Investments—other securities | $1,248,862 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $25,364,881 |
| Accounts payable and accrued expenses | $148,331 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| Tax-exempt bond liabilities | $0 |
| Escrow or custodial account liability | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $0 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $0 |
| Total liabilities | $148,331 |
| Net assets without donor restrictions | $24,005,510 |
| Net assets with donor restrictions | $1,211,040 |
| 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 | $25,364,881 |
Grants Recieved
Over the last fiscal year, we have identified 2 grants that The Tom Wathen Center has recieved totaling $6,403,000.
| Awarding Organization | Amount |
|---|---|
Foundation For The Carolinas Charlotte, NC PURPOSE: CHARITABLE GIFT | $6,378,000 |
American Endowment Foundation Hudson, OH PURPOSE: GENERAL OPERATING SUPPORT | $25,000 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
The 1440 Foundation Saratoga, CA | $206,653,487 | $19,808,457 |
Merkin Family Foundation Marina Del Rey, CA | $241,752,328 | $31,870,945 |
Hopper-Dean Foundation Menlo Park, CA | $45,438,431 | $29,723,797 |
Troesh Family Foundation Henderson, NV | $90,271,272 | $18,993,634 |
Bia Echo Foundation Reno, NV | $26,357,504 | $25,798,977 |
Connie And Bob Lurie Foundation Inc Redwood City, CA | $112,597,495 | $25,457,180 |
Kennys Kids Sedona, AZ | $0 | $509,065 |
Meadowview Foundation San Rafael, CA | $189,484,174 | $15,305,967 |
Pwb Foundation San Francisco, CA | $347,304,916 | $12,423,770 |
Jeffrey Carlton Charitable Foundation Udt Dated April 10 2009 Villa Park, CA | $0 | $7,778,728 |
Autodesk Foundation San Francisco, CA | $47,337 | $16,300,000 |
Priem Family Foundation Burlingame, CA | $0 | -$4,034,198 |