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← MARYMOUNT EDUCATION FOUNDATION

Form 990 for tax year 2023

Filed by MARYMOUNT EDUCATION FOUNDATION.

Totals

Total revenue
$1,380,644
Total expenses
$466,607
Contributions and grants received
$1,380,510
Grants paid
$154,135
Program service revenue
$0
Investment income
$134
Other revenue
$0
Total assets, end of year
$1,034,256
Total liabilities, end of year
$3,347
Net assets or fund balances, end of year
$1,030,909
Program services expenses (Part IX)
$257,204
Management and general expenses
$209,403
Fundraising expenses
$0
Program service expenses (Part III)
$257,204

Program services were 55.1% 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.

  • 1f · All other contributions, gifts and grants

    $1,380,510

  • 3 · Investment income

    total $134 · excluded $134

Functional expenses

Part IX, the statement of functional expenses.

  • 1 · Grants to domestic organizations and governments

    total $111,017 · program services $111,017

  • 2 · Grants to domestic individuals

    total $43,118 · program services $43,118

  • 5 · Compensation of officers, directors and key employees

    total $189,000 · program services $94,500 · management and general $94,500

  • 10 · Payroll taxes

    total $12,918 · program services $6,459 · management and general $6,459

  • 11b · Fees: legal

    total $10,552 · management and general $10,552

  • 11c · Fees: accounting

    total $55,500 · management and general $55,500

  • 11g · Fees: other

    total $75 · management and general $75

  • 13 · Office expenses

    total $77 · management and general $77

  • 14 · Information technology

    total $5,687 · program services $1,277 · management and general $4,410

  • 16 · Occupancy

    total $100 · management and general $100

  • 23 · Insurance

    total $36,559 · management and general $36,559

  • 24a · Other expenses: BANK & PAYROLL FEES

    total $1,129 · program services $524 · management and general $605

  • 24b · Other expenses: GIFTS

    total $512 · program services $309 · management and general $203

  • 24c · Other expenses: MEALS

    total $363 · management and general $363

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $95,635 · end of year $6,036

  • 2 · Savings and temporary cash investments

    beginning of year $0 · end of year $994,560

  • 9 · Prepaid expenses and deferred charges

    beginning of year $32,576 · end of year $33,660

  • 17 · Accounts payable and accrued expenses

    beginning of year $11,339 · end of year $3,347

  • 27 · Net assets without donor restrictions

    beginning of year $116,872 · end of year $848,007

  • 28 · Net assets with donor restrictions

    beginning of year $0 · end of year $182,902

Mission and programs · 2023

Mission

MARYMOUNT EDUCATION FOUNDATION WILL FUND EDUCATIONAL GRANTS, SCHOLARSHIPS, AND PROGRAMS IN ORDER TO PROVIDE OPPORTUNITIES FOR INDIVIDUALS WHO ARE BEYOND THE COMPULSARY SCHOOL ATTENDANCE AGE TO ACQUIRE A HIGHER LEVEL OF KNOWLEDGE, SKILLS, AND SPECIALIZATION IN THEIR CHOSEN AREAS OF INTEREST WITHIN A FORMAL SCHOOL SETTING, INCLUDING, BUT NOT LIMITED TO, UNIVERSITIES AND OTHER DEGREE GRANTING INSTITUTIONS.

Activities or mission (Part I)

MARYMOUNT EDUCATION FOUNDATION WILL FUND EDUCATIONAL GRANTS, SCHOLARSHIPS, AND PROGRAMS IN ORDER TO PROVIDE OPPORTUNITIES FOR INDIVIDUALS WHO ARE BEYOND THE COMPULSORY SCHOOL ATTENDANCE AGE TO ACQUIRE A HIGHER LEVEL OF KNOWLEDGE, SKILLS, AND SPECIALIZATION IN THEIR CHOSEN AREAS OF INTEREST WITHIN A FORMAL SCHOOL SETTING, INCLUDING, BUT NOT LIMITED TO, UNIVERSITIES AND OTHER DEGREE GRANTING INSTITUTIONS.

  • MARYMOUNT SCHOLARS PROGRAM: THE MARYMOUNT SCHOLARS PROGRAM, A CHARITABLE PROGRAM WITHIN THE MARYMOUNT EDUCATION FOUNDATION, WILL CARRY ON MARYMOUNT CALIFORNIA UNIVERSITY'S ("MCU") MISSION OF TRANSFORMING LIVES THROUGH EDUCATION BY AWARDING COLLEGE SCHOLARSHIPS AND PROVIDING A SUPPORTIVE COMMUNITY TO FRESHMAN AND TRANSFER STUDENTS. THE MARYMOUNT SCHOLARS PROGRAM WILL PARTNER WITH COLLEGES AND UNIVERSITIES THAT ALIGN WITH MCU'S TRADITION AND VALUES THAT ARE ROOTED IN CATHOLIC HIGHER EDUCATION, INCLUDING: A COMMITMENT TO EDUCATING THE WHOLE PERSON; A PERSONAL, COMMUNAL, AND ETHICS-BASED APPROACH TO LEARNING; RECOGNITION OF THE HARMONY OF FAITH AND REASON; OPENNESS TO ALL BACKGROUNDS AND FAITHS; IMPORTANCE OF INTEGRATIVE KNOWLEDGE; COMMITMENT TO THE DIGNITY OF THE INDIVIDUAL; AND CONCERN FOR WIDER ISSUES OF JUSTICE IN SOCIETY. LIKE AT MCU, THE MARYMOUNT SCHOLARS PROGRAM WILL SEEK TO ASSIST HIGH POTENTIAL STUDENTS FROM LOWER SOCIO-ECONOMIC BACKGROUNDS IN THE 2.7-3.3 GPA RANGE BY OFFERING FINANCIAL SUPPORT, PERSONAL ATTENTION, AND PROFESSIONAL MENTORSHIP.

    Expenses $257,204 · Grants $154,135

  • EDUCATIONAL GRANTS: MEF WILL SUPPORT EDUCATIONAL INITIATIVES THAT PROMOTE ACCESS, DEGREE ATTAINMENT, AND A COMMUNITY OF LEARNERS. THIS PROGRAM IS NOT YET DEFINED AND WILL NOT BE ACTIVE UNTIL 2024.

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

Listed in Part VII

  • RICK EDLER

    CHAIRMAN/PRESIDENT

    Total calculated
    $0
    Hours/week
    15

  • ARIANE SCHAUER

    VICE PRESIDENT/SECRETARY

    Total calculated
    $0
    Hours/week
    15

  • BRIAN MARCOTTE

    TREASURER

    Total calculated
    $236,548
    From this org
    $0
    From related orgs
    $236,548
    Other
    $0
    Hours/week
    15

    Schedule J breakdown matched by us

    Base
    $0 + $211,429 related
    Bonus
    $0
    Other
    $0 + $25,119 related
    Deferred
    $0
    Nontaxable benefits
    $0
    Filer's total
    $0 + $236,548 related

  • ANTOINE-MARIE BAURIER

    TRUSTEE

    Total calculated
    $0
    Hours/week
    5

  • DAVE TOMBLIN

    TRUSTEE

    Total calculated
    $0
    Hours/week
    5

  • SUE SOLDOFF

    TRUSTEE

    Total calculated
    $0
    Hours/week
    5

  • MARK VILLANO

    TRUSTEE

    Total calculated
    $0
    Hours/week
    5

  • LYNN MARSH

    TRUSTEE (UNTIL 09/2023)

    Total calculated
    $0
    Hours/week
    5

  • CAROLINE SAYERS

    TRUSTEE

    Total calculated
    $0
    Hours/week
    5

  • RYAN ALCANTARA

    TRUSTEE

    Total calculated
    $0
    Hours/week
    5

  • ROBYN JONES

    EXECUTIVE DIRECTOR

    Total calculated
    $189,000
    From this org
    $189,000
    From related orgs
    $0
    Other
    $0
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $165,000
    Bonus
    $0
    Other
    $24,000
    Deferred
    $0
    Nontaxable benefits
    $0
    Filer's total
    $189,000

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 · Compensation committee
  • 3 · Form 990 of other organizations
  • 3 · Compensation survey or study
  • 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

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

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
2023
Filed
24 September 2024
IRS schema version
2023v5.1
Source object
202412849349300101

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