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Nonprofiteer
← HILLSBOROUGH SCHOOLS FOUNDATION

Form 990 for tax year 2023

Filed by HILLSBOROUGH SCHOOLS FOUNDATION.

Totals

Total revenue
$7,584,123
Total expenses
$4,708,091
Contributions and grants received
$4,343,197
Grants paid
$3,911,753
Program service revenue
$0
Investment income
$2,915,222
Other revenue
$325,704
Total assets, end of year
$20,620,075
Total liabilities, end of year
$3,755,227
Net assets or fund balances, end of year
$16,864,848
Program services expenses (Part IX)
$3,911,753
Management and general expenses
$290,451
Fundraising expenses
$505,887
Program service expenses (Part III)
$3,911,753

Program services were 83.1% 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.

  • 1c · Fundraising events

    $175,253

  • 1f · All other contributions, gifts and grants

    $4,167,944

  • 1g · Noncash contributions included above

    $406,507

  • 3 · Investment income

    total $631,581 · excluded $631,581

  • 7a · Gross sales of assets other than inventory

    securities $3,219,917

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

    securities $936,276

  • 7c · Gain or loss

    securities $2,283,641

  • 7d · Net gain or loss

    total $2,283,641 · excluded $2,283,641

  • 8a · Fundraising events: gross income

    $531,897

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

    $175,253

  • 8b · Fundraising events: direct expenses

    $207,866

  • 8c · Net income from fundraising events

    total $324,031 · excluded $324,031

  • 11a · Other revenue: OTHER REVENUE

    total $1,673 · excluded $1,673

  • 11e · Other revenue, total

    $1,673

Functional expenses

Part IX, the statement of functional expenses.

  • 1 · Grants to domestic organizations and governments

    total $3,911,753 · program services $3,911,753

  • 5 · Compensation of officers, directors and key employees

    total $180,172 · management and general $32,431 · fundraising $147,741

  • 7 · Other salaries and wages

    total $172,421 · management and general $32,671 · fundraising $139,750

  • 9 · Other employee benefits

    total $54,140 · management and general $12,115 · fundraising $42,025

  • 10 · Payroll taxes

    total $20,117 · management and general $3,527 · fundraising $16,590

  • 11b · Fees: legal

    total $2,728 · management and general $2,728

  • 11c · Fees: accounting

    total $50,500 · management and general $50,500

  • 11f · Fees: investment management

    total $34,969 · management and general $34,969

  • 11g · Fees: other

    total $92,085 · management and general $27,929 · fundraising $64,156

  • 12 · Advertising and promotion

    total $4,351 · fundraising $4,351

  • 14 · Information technology

    total $3,604 · management and general $1,792 · fundraising $1,812

  • 19 · Conferences, conventions and meetings

    total $7,754 · management and general $5,230 · fundraising $2,524

  • 23 · Insurance

    total $6,014 · management and general $6,014

  • 24a · Other expenses: MISCELLANEOUS

    total $69,095 · management and general $1,444 · fundraising $67,651

  • 24b · Other expenses: BANK FEES

    total $45,640 · management and general $45,640

  • 24c · Other expenses: SOFTWARE & IT

    total $17,066 · management and general $5,787 · fundraising $11,279

  • 24d · Other expenses: SUPPLIES

    total $16,981 · management and general $16,981

  • 24e · All other expenses

    total $18,701 · management and general $10,693 · fundraising $8,008

Balance sheet

Part X, book values.

  • 2 · Savings and temporary cash investments

    beginning of year $2,412,220 · end of year $1,644,067

  • 3 · Pledges and grants receivable

    beginning of year $30,820 · end of year $115,521

  • 9 · Prepaid expenses and deferred charges

    beginning of year $97,864 · end of year $35,862

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

    $28,838

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

    $28,838

  • 10c · Land, buildings and equipment, net

    beginning of year $0 · end of year $0

  • 11 · Investments: publicly traded securities

    beginning of year $15,907,872 · end of year $18,824,625

  • 17 · Accounts payable and accrued expenses

    beginning of year $58,718 · end of year $55,227

  • 18 · Grants payable

    beginning of year $3,707,700 · end of year $3,700,000

  • 27 · Net assets without donor restrictions

    beginning of year $14,668,658 · end of year $16,864,848

  • 28 · Net assets with donor restrictions

    beginning of year $13,700 · end of year $0

Mission and programs · 2023

Mission

THE PRIMARY GOAL OF THE ORGANIZATION IS TO PROVIDE SUPPLEMENTARY FINANCIAL SUPPORT FOR THE PUBLIC SCHOOLS OF HILLSBOROUGH, CALIFORNIA, WHEN FUNDING FROM PUBLIC AND OTHER SOURCES IS INADEQUATE TO PROVIDE HIGH QUALITY EDUCTIONAL PROGRAMS AND OPPORTUNITIES FOR THE CHILDREN OF THE COMMUNITY. USES FOR THIS FINANCIAL SUPPORT WOULD INCLUDE, BUT NOT BE LIMITED TO, THE DEVELOPMENT AND ENHANCEMENT OF EDUCATIONAL PROGRAMS, THE PURCHASE OF BOOKS, SPECIALIZED EQUIPMENT AND OTHER ACEDEMIC MATERIALS, AND THE FUNDING OF PERSONNEL, SUCH AS CURRICULUM SPECIALISTS. AS PART OF ITS EFFORTS TO ACHIEVE THIS GOAL, THE FOUNDATION HAS ESTABLISHED AND MANAGES THE FRED SCHWARTZ ENDOWMENT FUND AS A SUPPLEMENTAL FINANCIAL RESOURCE FOR THE BENEFIT OF THE HILLSBOROUGH PUBLIC SCHOOLS.

Activities or mission (Part I)

THE PRIMARY GOAL OF THE ORGANIZATION IS TO PROVIDE SUPPLEMENTARY FINANCIAL SUPPORT FOR THE PUBLIC SCHOOLS OF HILLSBOROUGH, CALIFORNIA, WHEN FUNDING FROM PUBLIC AND OTHER SOURCES IS INADEQUATE TO PROVIDE HIGH QUALITY EDUCATIONAL PROGRAMS AND OPPORTUNITIES FOR THE CHILDREN OF THE COMMUNITY. USES FOR THIS FINANCIAL SUPPORT WOULD INCLUDE, BUT NOT BE LIMITED TO, THE DEVELOPMENT AND ENHANCEMENT OF EDUCATIONAL PROGRAMS, THE PURCHASE OF BOOKS, SPECIALIZED EQUIPMENT AND OTHER ACADEMIC MATERIALS, AND THE FUNDING OF PERSONNEL, SUCH AS CURRICULUM SPECIALISTS. AS PART OF ITS EFFORTS TO ACHEIVE THIS GOAL, THE FOUNDATION HAS ESTABLISHED AND MANAGES THE FRED SCHWARTZ ENDOWMENT FUND AS A SUPPLEMENTAL FINANCIAL RESOURCE FOR THE BENEFIT OF THE HILLSBOROUGH PUBLIC SCHOOLS.

  • ANNUAL GIVING CAMPAIGN IS AN ANNUAL FUND DRIVE TO PARENTS AND COMMUNITY. THE FUNDS RAISED ARE USED TO MAKE GRANTS TO HILLSBOROUGH CITY SCHOOL DISTRICT AS SUPPLEMENTAL FUNDING TO THE SCHOOL DISTRICT BUDGET.

    Expenses $3,911,753 · Grants $3,911,753

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

Listed in Part VII

  • CINDY PANCHULA

    PRESIDENT

    Total calculated
    $0
    Hours/week
    20

  • GREG LEONARD

    TREASUERER

    Total calculated
    $0
    Hours/week
    4

  • LICIA DAVIDSON

    SECRETARY & GOVERNANCE

    Total calculated
    $0
    Hours/week
    2

  • AMY JASMER

    PAST PRESIDENT

    Total calculated
    $0
    Hours/week
    2

  • ERIN SCHAEFER

    CHAIR, ANNUAL GIVING CAMPAIGN

    Total calculated
    $0
    Hours/week
    8

  • ROMAN MARGOLIN

    CO-CHAIR, AUDIT & ENDOWMENT

    Total calculated
    $0
    Hours/week
    2

  • TAL SIMON

    CO-CHAIR, AUDIT & ENDOWMENT

    Total calculated
    $0
    Hours/week
    2

  • KATIE SALMA

    CO-CHAIR, COMMUNICATIONS

    Total calculated
    $0
    Hours/week
    4

  • CHERYL DAYA

    CO-CHAIR, COMMUNICATIONS

    Total calculated
    $0
    Hours/week
    4

  • BESSIE SEYBOLD

    CHAIR, COMMUNITY CAMPAIGN

    Total calculated
    $0
    Hours/week
    2

  • JULIE KAVANAGH

    CHAIR, CORPORATE OUTREACH

    Total calculated
    $0
    Hours/week
    2

  • NISHA AHLUWALIA

    CO-CHAIR, EVENTS

    Total calculated
    $0
    Hours/week
    3

  • TING YANG

    CO-CHAIR, EVENTS

    Total calculated
    $0
    Hours/week
    3

  • MARCY DUTTON SEGRE

    CHAIR, LEGACY GIVING

    Total calculated
    $0
    Hours/week
    1

  • BONNIE FELDMAN

    CHAIR, NOMINATING

    Total calculated
    $0
    Hours/week
    2

  • MELISSA HAMILTON

    CHAIR, PARENT CAMPAIGN

    Total calculated
    $0
    Hours/week
    3

  • SARA HESTON

    CHAIR, PERSONNEL

    Total calculated
    $0
    Hours/week
    2

  • BRYAN KEANE

    CHAIR, SCHOLARS' CIRCLE

    Total calculated
    $0
    Hours/week
    2

  • STEVE JUNO

    CHAIR, STRATEGIC PLANNING

    Total calculated
    $0
    Hours/week
    2

  • LISA DUFFELL

    PRESIDENT-ELECT

    Total calculated
    $0
    Hours/week
    2

  • JAMIE HARRIS

    ASSOCIATED PARENTS' GROUPS (APG) PRESIDENT

    Total calculated
    $0
    Hours/week
    2

  • ALICIA ISERO

    EXECUTIVE DIRECTOR

    Total calculated
    $181,476
    From this org
    $172,813
    From related orgs
    $0
    Other
    $8,663
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $172,813
    Bonus
    $0
    Other
    $0
    Deferred
    $0
    Nontaxable benefits
    $8,663
    Filer's total
    $181,476

  • GILBERT WAI

    SCHOOL BOARD LIAISON

    Total calculated
    $0
    Hours/week
    0 + 20 related

  • LOUANN CARLOMAGNO

    SUPERINTENDENT

    Total calculated
    $0
    Hours/week
    0 + 40 related

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

None.

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

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

Provenance

Return type
form_990
Tax year
2023
Filed
12 February 2025
IRS schema version
2023v6.0
Source object
202540449349300019

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