Form 990 for tax year 2023

Revenue

Part VIII, the statement of revenue.

• 1c · Fundraising events

  $297,757

• 1d · Related organizations

  $44,080

• 1e · Government grants (contributions)

  $1,204,373

• 1f · All other contributions, gifts and grants

  $3,732,399

• 3 · Investment income

  total $4,039,315 · unrelated business $1,333 · excluded $4,037,982

• 7a · Gross sales of assets other than inventory

  securities $17,874,753

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

  securities $18,138,616

• 7c · Gain or loss

  securities -$263,863

• 7d · Net gain or loss

  total -$263,863 · excluded -$263,863

• 8a · Fundraising events: gross income

  $40,370

• 8a · Fundraising events: contributions included on line 1c

  $297,757

• 8b · Fundraising events: direct expenses

  $207,071

• 8c · Net income from fundraising events

  total -$166,701 · excluded -$166,701

• 11a · Other revenue: OTHER INCOME

  total $365,444 · excluded $365,444

• 11e · Other revenue, total

  $365,444

Functional expenses

Part IX, the statement of functional expenses.

• 1 · Grants to domestic organizations and governments

  total $4,374,684 · program services $4,374,684

• 2 · Grants to domestic individuals

  total $1,352,487 · program services $1,352,487

• 5 · Compensation of officers, directors and key employees

  total $584,502 · program services $128,170 · management and general $244,491 · fundraising $211,841

• 7 · Other salaries and wages

  total $952,006 · program services $280,874 · management and general $411,812 · fundraising $259,320

• 8 · Pension plan contributions

  total $59,299 · program services $15,798 · management and general $24,998 · fundraising $18,503

• 9 · Other employee benefits

  total $191,502 · program services $51,319 · management and general $72,162 · fundraising $68,021

• 10 · Payroll taxes

  total $110,117 · program services $29,337 · management and general $46,421 · fundraising $34,359

• 11a · Fees: management

  total $824 · management and general $824

• 11b · Fees: legal

  total $735 · management and general $735

• 11c · Fees: accounting

  total $69,542 · management and general $69,542

• 11f · Fees: investment management

  total $325,152 · management and general $325,152

• 11g · Fees: other

  total $17,938 · program services $17,938

• 12 · Advertising and promotion

  total $113,057 · program services $587 · fundraising $112,470

• 13 · Office expenses

  total $31,544 · management and general $30,178 · fundraising $1,366

• 14 · Information technology

  total $90,726 · management and general $90,726

• 19 · Conferences, conventions and meetings

  total $33,847 · management and general $33,847

• 22 · Depreciation, depletion and amortization

  total $13,113 · management and general $13,113

• 23 · Insurance

  total $28,194 · program services $19,097 · management and general $9,097

• 24a · Other expenses: TEXTBOOKS

  total $358,405 · program services $358,405

• 24b · Other expenses: DONOR CULTIVATION

  total $38,094 · fundraising $38,094

• 24c · Other expenses: DUES & SUBSCRIPTIONS

  total $32,093 · management and general $32,093

• 24d · Other expenses: MAINTANENCE & REPAIRS

  total $6,211 · management and general $6,211

• 24e · All other expenses

  total $20,579 · program services $1,231 · management and general $19,348

Balance sheet

Part X, book values.

• 1 · Cash, non-interest-bearing

  beginning of year $1,230,864 · end of year $914,150

• 2 · Savings and temporary cash investments

  beginning of year $8,060,662 · end of year $8,433,083

• 3 · Pledges and grants receivable

  beginning of year $1,248,919 · end of year $1,356,851

• 4 · Accounts receivable

  beginning of year $63,086 · end of year $64,096

• 9 · Prepaid expenses and deferred charges

  beginning of year $71,571 · end of year $23,874

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

  $370,175

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

  $349,365

• 10c · Land, buildings and equipment, net

  beginning of year $27,912 · end of year $20,810

• 11 · Investments: publicly traded securities

  beginning of year $56,601,322 · end of year $59,955,902

• 12 · Investments: other securities

  beginning of year $9,754,194 · end of year $14,623,445

• 13 · Investments: program-related

  beginning of year $7,760,718 · end of year $7,835,205

• 15 · Other assets

  beginning of year $3,929,635 · end of year $3,722,285

• 17 · Accounts payable and accrued expenses

  beginning of year $1,490,455 · end of year $2,151,825

• 18 · Grants payable

  beginning of year $2,649,700 · end of year $3,169,685

• 25 · Other liabilities

  beginning of year $509,494 · end of year $480,185

• 27 · Net assets without donor restrictions

  beginning of year $16,945,115 · end of year $17,302,432

• 28 · Net assets with donor restrictions

  beginning of year $67,154,119 · end of year $73,845,574

The filer's explanations (Part III)

PART I, LINE 7

DISCRETIONARY BASED BONUSES WERE AWARDED DURING THE YEAR.

Disregarded entities

Part I: entities that legally are the filer and file no return of their own.

• 525 ANACAPA LLC

  OWN, MANAGE, AND LEASE TO SBCC FOR EDUCATION AND CHARITABLE PURPOSES · CA · income $288,000 · assets $7,184,656

  Directly controlled by THE FOUNDATION FOR SANTA BARBARA CITY COLLEGE

Related corporations and trusts

Part IV: related organizations taxable as a corporation or trust.

• MEM EMPLOYEE OWNERSHIP TRUST UDT DATED AUGUST 3 2022

  T · EMPLOYEE OWNERSHIP TRUST · CA · controlled entity

  Directly controlled by SANTA BARBARA CITY COLLEGE FOUNDATION

• MONTECITO ESTATE MANAGEMENT LLC

  C · PROPERTY MANAGEMENT · CA · controlled entity

  Directly controlled by MEM EMPLOYEE OWNERSHIP TRUST UDT DATED AUGUST 3 2022

• CHARITABLE REMAINDER TRUST (6)

  FOUNDATION SUPPORT · CA

• POOLED INCOME FUND (2)

  FOUNDATION SUPPORT · CA