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Nonprofiteer
← THE SANTA MONICA COLLEGE FOUNDATION

Form 990 for tax year 2022

Filed by THE SANTA MONICA COLLEGE FOUNDATION.

Totals

Total revenue
$4,860,408
Total expenses
$2,942,303
Contributions and grants received
$3,728,456
Grants paid
$2,115,425
Program service revenue
$0
Investment income
$1,131,952
Other revenue
$0
Total assets, end of year
$35,629,223
Total liabilities, end of year
$111,923
Net assets or fund balances, end of year
$35,517,300
Program services expenses (Part IX)
$2,264,899
Management and general expenses
$340,183
Fundraising expenses
$337,221
Program service expenses (Part III)
$2,264,899

Program services were 77.0% 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)

    $1,513,798

  • 1f · All other contributions, gifts and grants

    $2,214,658

  • 1g · Noncash contributions included above

    $9,356

  • 3 · Investment income

    total $959,866 · excluded $959,866

  • 7a · Gross sales of assets other than inventory

    securities $9,459,871

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

    securities $9,287,785

  • 7c · Gain or loss

    securities $172,086

  • 7d · Net gain or loss

    total $172,086 · excluded $172,086

Functional expenses

Part IX, the statement of functional expenses.

  • 1 · Grants to domestic organizations and governments

    total $1,137,224 · program services $1,137,224

  • 2 · Grants to domestic individuals

    total $978,201 · program services $978,201

  • 5 · Compensation of officers, directors and key employees

    total $102,681 · program services $21,255 · management and general $11,667 · fundraising $69,759

  • 7 · Other salaries and wages

    total $266,864 · program services $88,657 · fundraising $178,207

  • 8 · Pension plan contributions

    total $3,777 · program services $782 · management and general $1,231 · fundraising $1,764

  • 9 · Other employee benefits

    total $16,986 · program services $3,516 · management and general $5,538 · fundraising $7,932

  • 10 · Payroll taxes

    total $28,910 · program services $5,984 · management and general $9,425 · fundraising $13,501

  • 11c · Fees: accounting

    total $164,150 · management and general $164,150

  • 11f · Fees: investment management

    total $104,776 · management and general $104,776

  • 11g · Fees: other

    total $9,902 · program services $2,612 · management and general $1,396 · fundraising $5,894

  • 13 · Office expenses

    total $43,025 · program services $8,906 · management and general $14,027 · fundraising $20,092

  • 14 · Information technology

    total $49,000 · program services $10,143 · management and general $15,974 · fundraising $22,883

  • 19 · Conferences, conventions and meetings

    total $21,850 · program services $4,523 · management and general $7,123 · fundraising $10,204

  • 24a · Other expenses: DONOR RELATIONS & SPECI

    total $9,533 · program services $1,973 · management and general $3,108 · fundraising $4,452

  • 24b · Other expenses: MEMBERSHIPS & SUBSCRIPT

    total $5,424 · program services $1,123 · management and general $1,768 · fundraising $2,533

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $589,724 · end of year $307,147

  • 2 · Savings and temporary cash investments

    beginning of year $1,079,773 · end of year $522,869

  • 3 · Pledges and grants receivable

    beginning of year $563,259 · end of year $169,767

  • 9 · Prepaid expenses and deferred charges

    beginning of year $38,314 · end of year $57,989

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

    $15,612

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

    $15,612

  • 10c · Land, buildings and equipment, net

    beginning of year $0 · end of year $0

  • 11 · Investments: publicly traded securities

    beginning of year $28,685,921 · end of year $33,579,306

  • 15 · Other assets

    beginning of year $954,009 · end of year $992,145

  • 17 · Accounts payable and accrued expenses

    beginning of year $89,594 · end of year $111,923

  • 27 · Net assets without donor restrictions

    beginning of year $2,856,139 · end of year $3,390,720

  • 28 · Net assets with donor restrictions

    beginning of year $28,965,267 · end of year $32,126,580

Mission and programs · 2022

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 EMERITUS PROGRAM FOR LIFELONG LEARNERS, 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 VIP DAYS), AND ACKNOWLEDGE OUTSTANDING ACHIEVEMENTS (PUBLIC POLICY SYMPOSIUMS AND COMMENCEMENT). FURTHER, EMERGENCY RELIEF FOR STUDENTS EXPERIENCING UNFORESEEN HARDSHIP IS PROVIDED BY THE FOUNDATION'S ABILITY TO SECURE FUNDS.

    Expenses $1,286,698 · Grants $1,137,224

  • SCHOLARSHIPS: IN AN EFFORT TO ELIMINATE FINANCIAL BARRIERS AND TO ENSURE ACADEMIC SUCCESS FOR SMC STUDENTS, THE FOUNDATION PROVIDED $978,201IN 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 $978,201 · Grants $978,201

As filed on the 2022 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
    $295,764
    From this org
    $70,428
    From related orgs
    $176,586
    Other
    $48,750
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $70,428 + $176,586 related
    Bonus
    $0
    Other
    $0
    Deferred
    $0 + $28,692 related
    Nontaxable benefits
    $0 + $20,058 related
    Filer's total
    $70,428 + $225,336 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

  • FRED KIPPERMAN

    DIRECTOR (UNTIL 6/30/2023)

    Total calculated
    $0
    Hours/week
    1

  • WILLIAM D LIPPMAN

    DIRECTOR (UNTIL 12/17/2022)

    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

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) AND CHIEF FINANCIAL OFFICER (CFO) OF THE ORGANIZATION, RESPECTIVELY. 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 AND CFO 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

    $1,137,224

    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.

Provenance

Return type
form_990
Tax year
2022
Filed
17 April 2024
IRS schema version
2022v5.0
Source object
202411359349309586

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