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Nonprofiteer
← FORMATIVE FOUNDATION

Form 990 for tax year 2024

Filed by FORMATIVE FOUNDATION.

Totals

Total revenue
$488,002
Total expenses
$1,016,236
Contributions and grants received
$302,956
Grants paid
$498,923
Program service revenue
$0
Investment income
$185,046
Other revenue
$0
Total assets, end of year
$5,062,295
Total liabilities, end of year
$1,004,667
Net assets or fund balances, end of year
$4,057,628
Program services expenses (Part IX)
$830,606
Management and general expenses
$87,695
Fundraising expenses
$97,935
Program service expenses (Part III)
$830,606

Program services were 81.7% 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.

  • 1f · All other contributions, gifts and grants

    $302,956

  • 3 · Investment income

    total $185,046 · excluded $185,046

Functional expenses

Part IX, the statement of functional expenses.

  • 1 · Grants to domestic organizations and governments

    total $498,923 · program services $498,923

  • 5 · Compensation of officers, directors and key employees

    total $103,500 · program services $51,750 · management and general $41,400 · fundraising $10,350

  • 7 · Other salaries and wages

    total $203,535 · program services $106,384 · management and general $17,685 · fundraising $79,466

  • 10 · Payroll taxes

    total $24,148 · program services $12,460 · management and general $4,636 · fundraising $7,052

  • 11b · Fees: legal

    total $1,541 · management and general $1,541

  • 11c · Fees: accounting

    total $3,500 · management and general $3,500

  • 11g · Fees: other

    total $6,626 · management and general $6,626

  • 12 · Advertising and promotion

    total $1,857 · management and general $1,857

  • 23 · Insurance

    total $7,296 · program services $1,835 · management and general $4,394 · fundraising $1,067

  • 24a · Other expenses: SUPPLIES

    total $159,254 · program services $159,254

  • 24b · Other expenses: BUSINESS FEES

    total $5,093 · management and general $5,093

  • 24c · Other expenses: MISCELLANEOUS

    total $963 · management and general $963

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $5,107,066 · end of year $5,047,664

  • 4 · Accounts receivable

    beginning of year $30,438 · end of year $14,631

  • 17 · Accounts payable and accrued expenses

    beginning of year $16,637 · end of year $19,662

  • 18 · Grants payable

    beginning of year $535,005 · end of year $985,005

  • 27 · Net assets without donor restrictions

    beginning of year $4,560,862 · end of year $4,057,628

  • 28 · Net assets with donor restrictions

    beginning of year $25,000 · end of year $0

Mission and programs · 2024

Mission

THE FOUNDATION'S MISSION IS TO PROVIDE FUNDING, CONNECTIONS AND GUIDANCE IN SUPPORT OF TRANSFORMATIVE LEARNING EXPERIENCES IN STEAM (SCIENCE, TECHNOLOGY, ENGINEERING, ART AND MATH) FOR PEOPLE OF ALL AGES TO DEVELOP THE CRITICAL THINKERS AND CREATIVE PROBLEM SOLVERS NEEDED TO MEET THE CHALLENGES OF TOMORROW.

Activities or mission (Part I)

THE PURPOSE OF THE ORGANIZATION IS TO OPERATE FOR CHARITABLE AND EDUCATIONAL PURPOSES, INCLUDING BUT NOT LIMITED TO SUPPORTING TRANSFORMATIVE EDUCATIONAL EXPERIENCES IN STEAM (SCIENCE, TECHNOLOGY, ENGINEERING, ARTS AND MATH) FOR PEOPLE OF ALL AGES.

  • TO SUPPORT THE DPEA BY PROVIDING FINANCIAL RESOURCES, LONG TERM DIRECTION, AND ENABLING SYSTEMS AND STRUCTURES. CONTINUING COSTS ARE INCURRED ONGOING TO UPGRADE AND MAINTAIN THE FACILITY AND EQUIPMENT AND TO PAY INSTRUCTOR'S SALARIES PURSUANT TO THE MEMORANDUM OF UNDERSTANDING BETWEEN THE FOUNDATION AND THE SCHOOL DISTRICT.

    Expenses $504,630 · Grants $270,614

  • MECHATRONICS PROGRAM - THE NEW CAPSTONE PROJECT FOR SENIOR YEAR STUDENTS. THIS PROJECT INVOLVES THE COMPREHENSIVE DESIGN, PROTOTYPING, FABRICATION AND EXHIBITION OF A MUSEUM-QUALITY KINETIC EXHIBIT.

    Expenses $321,251 · Grants $225,820

  • STEAM MUSEUM - THE FOUNDATION AND THE SANTA BARBARA UNIFIED SCHOOL DISTRICT ARE COLLABORATING ON IMPROVING AND EXPANDING THE ACADEMY FACILITIES THROUGH THE ADDITION OF A NEW STATE-OF-THE-ART CAREER TECHNICAL EDUCATION PAVILION FACILITY THAT WILL SUPPORT THE PRODUCT INNOVATION AND DESIGN AND MEDIA ARTS PATHWAYS AT DPHS. AS PLANNED, THE FACILITY WILL INCLUDE A FIRST-OF-ITS-KIND, STEAM TEACHING AND LEARNING MUSEUM IN WHICH STUDENTS WILL DISPLAY AND DEMONSTRATE THEIR PROFESSIONAL-QUALITY WORK AND SERVE AS DOCENTS AND GUIDES. THE FACILITY WILL BE OPEN TO SERVE THE COMMUNITY AND BE EXPERIENCED AS A YEAR-ROUND MAKER FAIRE. THE FACILITY WILL ALSO SERVE AS A TRAINING INSTITUTE FOR TEACHERS FROM AROUND THE COUNTRY.

    Expenses $4,725 · Grants $2,489

As filed on the 2024 return. The filer continues this part on Schedule O, which is not shown here.

Listed in Part VII

  • Mike Brown

    VICE PRESIDENT

    Total calculated
    $0
    Hours/week
    2

  • Liz Salentine

    SECRETARY

    Total calculated
    $0
    Hours/week
    2

  • Jamie Flint

    TREASURER

    Total calculated
    $0
    Hours/week
    5

  • Lisa Couch

    DIRECTOR

    Total calculated
    $0
    Hours/week
    2

  • Greg Hartley

    DIRECTOR

    Total calculated
    $0
    Hours/week
    2

  • Eckart Meiburg

    DIRECTOR

    Total calculated
    $0
    Hours/week
    2

  • Michelle Pickett

    PRESIDENT

    Total calculated
    $0
    Hours/week
    4

  • John McClure

    DIRECTOR

    Total calculated
    $0
    Hours/week
    2

  • Jill O'Gorman

    DIRECTOR

    Total calculated
    $0
    Hours/week
    2

  • Gary Simpson

    CEO

    Total calculated
    $101,604
    From this org
    $101,604
    From related orgs
    $0
    Other
    $0
    Hours/week
    20

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.

Grants on this return

  • SANTA BARBARA SCHOOL DISTRICT

    $498,923

    EQUIPPING AND OPERATING THE FACILITY FOR THE DOS PUEBLOS ENGINEERING ACADEMY AND STEAM MUSEUM.

Provenance

Return type
form_990
Tax year
2024
Filed
13 May 2026
IRS schema version
2024v5.5
Source object
202601339349308470

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