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Nonprofiteer
← THE SANTA MONICA COLLEGE FOUNDATION

Form 990 for tax year 2023

Filed by THE SANTA MONICA COLLEGE FOUNDATION.

Totals

Total revenue
$5,009,556
Total expenses
$3,159,579
Contributions and grants received
$2,346,216
Grants paid
$2,333,220
Program service revenue
$0
Investment income
$2,663,340
Other revenue
$0
Total assets, end of year
$40,415,746
Total liabilities, end of year
$135,898
Net assets or fund balances, end of year
$40,279,848
Program services expenses (Part IX)
$2,556,900
Management and general expenses
$355,791
Fundraising expenses
$246,888
Program service expenses (Part III)
$2,556,900

Program services were 80.9% of total expenses calculated — Part IX's program-services column over total expenses, both as filed.

Line items

Every line the filer filed in Parts VIII, IX and X, as filed and in filed order. Blank columns are left out, and the lines are not forced to add up to the totals above.

Revenue

Part VIII, the statement of revenue.

  • 1e · Government grants (contributions)

    $153,150

  • 1f · All other contributions, gifts and grants

    $2,193,066

  • 1g · Noncash contributions included above

    $223,253

  • 3 · Investment income

    total $938,700 · excluded $938,700

  • 7a · Gross sales of assets other than inventory

    securities $16,579,486

  • 7b · Less cost or other basis and sales expenses

    securities $14,854,846

  • 7c · Gain or loss

    securities $1,724,640

  • 7d · Net gain or loss

    total $1,724,640 · excluded $1,724,640

Functional expenses

Part IX, the statement of functional expenses.

  • 1 · Grants to domestic organizations and governments

    total $1,644,780 · program services $1,644,780

  • 2 · Grants to domestic individuals

    total $688,440 · program services $688,440

  • 5 · Compensation of officers, directors and key employees

    total $92,680 · program services $28,639 · management and general $28,081 · fundraising $35,960

  • 7 · Other salaries and wages

    total $267,256 · program services $133,545 · fundraising $133,711

  • 8 · Pension plan contributions

    total $2,977 · program services $920 · management and general $902 · fundraising $1,155

  • 9 · Other employee benefits

    total $8,562 · program services $2,646 · management and general $2,594 · fundraising $3,322

  • 10 · Payroll taxes

    total $28,574 · program services $8,829 · management and general $8,658 · fundraising $11,087

  • 11c · Fees: accounting

    total $169,170 · management and general $169,170

  • 11f · Fees: investment management

    total $102,477 · management and general $102,477

  • 11g · Fees: other

    total $14,004 · program services $5,637 · management and general $1,289 · fundraising $7,078

  • 13 · Office expenses

    total $47,355 · program services $14,633 · management and general $14,349 · fundraising $18,373

  • 14 · Information technology

    total $54,209 · program services $16,751 · management and general $16,425 · fundraising $21,033

  • 19 · Conferences, conventions and meetings

    total $19,926 · program services $6,157 · management and general $6,038 · fundraising $7,731

  • 24a · Other expenses: DONOR RELATIONS & SPECI

    total $11,763 · program services $3,635 · management and general $3,564 · fundraising $4,564

  • 24b · Other expenses: MEMBERSHIPS & SUBSCRIPT

    total $7,406 · program services $2,288 · management and general $2,244 · fundraising $2,874

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $307,147 · end of year $217,109

  • 2 · Savings and temporary cash investments

    beginning of year $522,869 · end of year $23,802

  • 3 · Pledges and grants receivable

    beginning of year $169,767 · end of year $135,514

  • 9 · Prepaid expenses and deferred charges

    beginning of year $57,989 · end of year $11,065

  • 10a · Land, buildings and equipment: cost or other basis

    $20,389

  • 10b · Land, buildings and equipment: accumulated depreciation

    $9,565

  • 10c · Land, buildings and equipment, net

    beginning of year $0 · end of year $10,824

  • 11 · Investments: publicly traded securities

    beginning of year $33,579,306 · end of year $38,958,462

  • 15 · Other assets

    beginning of year $992,145 · end of year $1,058,970

  • 17 · Accounts payable and accrued expenses

    beginning of year $111,923 · end of year $135,898

  • 27 · Net assets without donor restrictions

    beginning of year $3,390,720 · end of year $4,620,779

  • 28 · Net assets with donor restrictions

    beginning of year $32,126,580 · end of year $35,659,069

Mission and programs · 2023

Mission

THE SANTA MONICA COLLEGE FOUNDATION LEADS THE PRIVATE FUNDRAISING EFFORTS OF SANTA MONICA COLLEGE IN SUPPORT OF THE COLLEGE'S MISSION TO PROVIDE OPEN AND AFFORDABLE ACCESS TO HIGH QUALITY EDUCATION. THE FOUNDATION RECEIVES, DISPERSES AND INVESTS PRIVATE DONATIONS IN SUPPORT OF COLLEGE SERVICES AND ACTIVITIES AND RAISES ANNUAL GIFTS TO INITIATE PROGRAMS FOR THE BENEFIT OF THE COLLEGE, ITS STUDENTS AND FACULTY.

Activities or mission (Part I)

PROVIDE SCHOLARSHIPS TO SANTA MONICA COLLEGE STUDENTS.

  • STUDENT PROGRAMMING AND ASSISTANCE: SANTA MONICA COLLEGE'S STUDENT SERVICES PROGRAMS PROVIDE ONGOING EDUCATIONAL AND COUNSELING SUPPORT TO ITS STUDENTS. FROM THE VETERANS' RESOURCE CENTER, BLACK COLLEGIANS PROGRAM, AND LATINO CENTER TO THE CENTER FOR STUDENTS WITH DISABILITIES, GUARDIAN SCHOLARS, AND ATHLETICS TEAMS, THE FOUNDATION FUNDRAISES AND SUPPORTS THE COLLECTIVE EFFORTS TO ADVANCE THE PROGRAMS. ADDITIONALLY, THE FOUNDATION RAISES FUNDING TO ADVANCE ANNUAL PROGRAMS TO INCREASE ENROLLMENT (SMC FOUNDATION MEAL PROJECT), AND ACKNOWLEDGE OUTSTANDING ACHIEVEMENTS (PUBLIC POLICY SYMPOSIUMS). FURTHER, EMERGENCY RELIEF FOR STUDENTS EXPERIENCING UNFORESEEN HARDSHIP IS PROVIDED BY THE FOUNDATION'S ABILITY TO SECURE FUNDS.

    Expenses $1,179,721 · Grants $1,179,721

  • SCHOLARSHIPS: IN AN EFFORT TO ELIMINATE FINANCIAL BARRIERS AND TO ENSURE ACADEMIC SUCCESS FOR SMC STUDENTS, THE FOUNDATION PROVIDED $688,440 IN SCHOLARSHIPS. THE AWARDS WERE DESIGNATED FOR QUALIFIED STUDENTS WHO WERE INCOMING FRESHMAN, CONTINUING, AND TRANSFER STUDENTS, AIDING AND SUPPORTING THEM IN ACHIEVING THEIR HIGHER EDUCATION GOALS.

    Expenses $688,440 · Grants $688,440

  • SANTA MONICA COLLEGE'S EMERITUS PROGRAM SERVES A POPULATION OF OLDER ADULTS WITH A RICH ARRAY OF COURSES, FREE OF CHARGE. WITH OVER 80 DIFFERENT CLASSES, THE EMERITUS PROGRAM ENGAGES NEARLY 3,000 STUDENTS FROM SANTA MONICA AND ACROSS THE LOS ANGELES BASIN, WHO ATTEND IN PERSON AND ONLINE, CONTINUING THEIR GOAL AS LIFELONG LEARNERS. THE FOUNDATION SERVES AS THE FUNDRAISING PARTNER TO THIS PROGRAM, SUPPORTING THEIR EFFORTS TO RAISE MONEY IN ORDER TO OFFSET THE COST OF THE PROGRAM NOT COVERED BY STATE FUNDING. AS SUCH, NECESSARY EXPENSES ARE DIRECTLY TIED TO THE SUPPORT AND STAFFING PROVIDED TO THE PROGRAM BY THE FOUNDATION.

    Expenses $433,834 · Grants $433,834

  • THE FOUNDATION ALSO PROVIDES FUNDS TO SUPPORT CAMPUS-WIDE ANNUAL EVENTS AT THE COLLEGE SUCH AS VIP DAY, COMMENCEMENT AND ONE-TIME CAMPUS-WIDE EVENTS SUCH AS GUEST LECTURERS.

    Expenses $254,905 · Grants $31,225

As filed on the 2023 return. The filer continues this part on Schedule O, which is not shown here.

Listed in Part VII

  • Elizabeth A Moore

    CEO/PRESIDENT

    Total calculated
    $370,494
    From this org
    $102,680
    From related orgs
    $204,439
    Other
    $63,375
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $92,680 + $204,439 related
    Bonus
    $10,000
    Other
    $0
    Deferred
    $0 + $37,787 related
    Nontaxable benefits
    $0 + $25,588 related
    Filer's total
    $102,680 + $267,814 related

  • Margaret Sohagi

    CHAIR

    Total calculated
    $0
    Hours/week
    1

  • Spring Aspers

    VICE CHAIR

    Total calculated
    $0
    Hours/week
    1

  • Mark Ivener

    TREASURER

    Total calculated
    $0
    Hours/week
    1

  • Deanna Hansen

    SECRETARY

    Total calculated
    $0
    Hours/week
    1

  • Don Girard

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Dr Tiffany Grunwald

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Dr Kathryn E Jeffery

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Dr Ava Shamban

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Mark Verge

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • James Castro

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Greg Morena

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Colleen O'Brien

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Teresa Cavenah

    DEVELOPMENT DIRECTOR

    Total calculated
    $117,981
    From this org
    $110,505
    From related orgs
    $0
    Other
    $7,476
    Hours/week
    40

Compensation is as filed in Part VII: reportable pay from this organization and from related organizations, other compensation, and hours per week. The total, marked calculated, is our sum of the three dollar columns, with a blank column counted as $0; the form itself has no total. On a Form 990-EZ the columns are Part IV's instead, and on a Form 990-PF Part VIII's — compensation, contributions to benefit plans, and expense account — and the total sums those. A Schedule J breakdown is as filed: base pay, bonus, other, deferred compensation and nontaxable benefits from this organization, with any from related organizations beside each, and the filer's own total. It is shown with the Part VII listing of the same name on the same return. The form gives no key between the two, so that pairing is ours, and is marked matched by us.

Schedule J

Answered yes

  • 3 · Approval by the board or compensation committee

Answered no

  • 4a · Severance or change-of-control payment
  • 4b · Supplemental nonqualified retirement plan
  • 4c · Equity-based compensation arrangement
  • 5a · Pay contingent on this organization's revenues
  • 5b · Pay contingent on a related organization's revenues
  • 6a · Pay contingent on this organization's net earnings
  • 6b · Pay contingent on a related organization's net earnings
  • 7 · Other non-fixed payments
  • 8 · Paid under the initial-contract exception

The filer's explanations (Part III)

PART I, LINE 3
THE HUMAN RESOURCES DEPARTMENT (HR) AND THE PERSONNEL COMMISSION OF SANTA MONICA COLLEGE SET THE BASE COMPENSATION OF THE PRESIDENT/CEO (CEO). SALARIES ARE GENERALLY SET BASED ON A VARIETY OF EXTERNAL AND INTERNAL FACTORS. EXTERNAL FACTORS CONSIST OF LABOR MARKET COMPARISONS, LABOR MARKET CONDITIONS, COLLECTIVE BARGAINING AND COST OF LIVING. INTERNAL FACTORS CONSIST OF MEASURING CONSISTENCY AND THE EMPLOYER'S ABILITY TO PAY. CHANGES TO SALARIES IMPACTING THE CEO COMPENSATION ARE CONTEMPORANEOUSLY DOCUMENTED IN THE BOARD OF TRUSTEE'S AND THE PERSONNEL COMMISSION'S MINUTES AND IN THE EMPLOYEE'S PERSONNEL FILE. THE CEO IS RESPONSIBLE FOR SETTING THE COMPENSATION OF OTHER ORGANIZATION EMPLOYEES THROUGH SALARY INFORMATION RECEIVED FROM SIMILAR SOURCES AS USED IN SETTING THE COLLEGE'S COMPENSATION FOR CLASSIFIED EMPLOYEES. THE EMPLOYEE COMPENSATION DECISIONS ARE DOCUMENTED IN THE APPLICABLE EMPLOYEE'S PERSONNEL FILE.

Part I's answers as filed. A line not listed was left unanswered; on lines 1a and 3 that means the box was not checked.

Grants on this return

  • SANTA MONICA COLLEGE

    $1,644,780

    SUPPORT ALL DEPARTMENTS IN THE COLLEGE FOR VARIOUS STUDENT PROGRAMS AND ACTIVITIES.

Related organizations on this return

Schedule R Part II: tax-exempt organizations related to the filer by control. It does not record shared board members or money.

  • SANTA MONICA COLLEGE

    EDUCATION · CA

    Directly controlled by CALIFORNIA COMMUNITY COLLEGE SYSTEM

Provenance

Return type
form_990
Tax year
2023
Filed
6 May 2025
IRS schema version
2023v6.0
Source object
202541299349303064

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