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← PRESERVE COMMUNITY FOUNDATION

Form 990 for tax year 2023

Filed by PRESERVE COMMUNITY FOUNDATION.

Totals

Total revenue
$1,838,953
Total expenses
$226,931
Contributions and grants received
$1,716,163
Grants paid
$198,588
Program service revenue
$0
Investment income
$122,579
Other revenue
$211
Total assets, end of year
$3,321,347
Total liabilities, end of year
$0
Net assets or fund balances, end of year
$3,321,347
Program services expenses (Part IX)
$198,588
Management and general expenses
$28,343
Fundraising expenses
$0
Program service expenses (Part III)
$198,588

Program services were 87.5% 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

    $1,716,163

  • 1g · Noncash contributions included above

    $26,873

  • 3 · Investment income

    total $128,499 · excluded $128,499

  • 7a · Gross sales of assets other than inventory

    securities $450,249

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

    securities $456,169

  • 7c · Gain or loss

    securities -$5,920

  • 7d · Net gain or loss

    total -$5,920 · excluded -$5,920

  • 11a · Other revenue: OTHER INCOME

    total $211 · excluded $211

  • 11e · Other revenue, total

    $211

Functional expenses

Part IX, the statement of functional expenses.

  • 1 · Grants to domestic organizations and governments

    total $172,532 · program services $172,532

  • 2 · Grants to domestic individuals

    total $26,056 · program services $26,056

  • 11a · Fees: management

    total $1,706 · management and general $1,706

  • 11c · Fees: accounting

    total $15,175 · management and general $15,175

  • 13 · Office expenses

    total $1,240 · management and general $1,240

  • 19 · Conferences, conventions and meetings

    total $10,222 · management and general $10,222

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $191,678 · end of year $263,124

  • 2 · Savings and temporary cash investments

    end of year $519,887

  • 11 · Investments: publicly traded securities

    beginning of year $1,517,647 · end of year $2,538,336

  • 29 · Capital stock, trust principal or current funds

    beginning of year $0 · end of year $0

  • 30 · Paid-in or capital surplus, or land, building or equipment fund

    beginning of year $0 · end of year $0

  • 31 · Retained earnings, endowment or other funds

    beginning of year $1,709,325 · end of year $3,321,347

Mission and programs · 2023

Mission

THE FOUNDATION'S PRIMARY MISSION IS TO PROVIDE FUNDS TO SUPPORT EDUCATIONAL SCHOLARSHIPS FOR ECONOMICALLY DISADVANTAGED CHILDREN IN MONTEREY COUNTY. SCHOLARSHIP GRANTS WILL COVER TUITION AND FEES.

Activities or mission (Part I)

SUPPORT EDUCATION SCHOLARSHIPS FOR ECONOMICALLY DISADVANTAGED CHILDREN IN MONTEREY CNTY.

  • PROVIDED SCHOLARSHIPS (BASED ON FINANCIAL NEED) TO HELP FAMILIES EDUCATE THEIR CHILDREN AT EDUCATIONAL INSTITUTIONS - $172,532EMERGENCY RELIEF FUND:EMERGENCY FINANCIAL AWARDS ARE GRANTED TO EMPLOYEES, THEIR SPOUSES AND THEIR CHILDREN IN CASES OF SERIOUS AND EXTRAORDINARY CIRCUMSTANCES SUCH AS MEDICAL EMERGENCIES, NATURAL DISASTERS OR OTHER UNFORSEEN LIFE-CHANGING EVENTS. THE FOUNDATION WILL NOT FUND CREDIT CARD EXPENSES, UTILITY BILLS AND MINOR CAR/HOUSE REPAIRS, ABSENT EXCEPTIONAL CIRCUMSTANCES SUCH AS DISASTER RELIEF OR OTHER CATASTROPHIC EVENTS - $26,056

    Expenses $198,588 · Grants $198,588

As filed on the 2023 return.

Listed in Part VII

  • Pat Forester

    CHAIRMAN/DIRECTOR

    Total calculated
    $0
    Hours/week
    5

  • Carolyn Blatman

    SECRETARY/DIRECTOR

    Total calculated
    $0
    Hours/week
    5

  • Pat Eastman

    TREASURER/DIRECTOR

    Total calculated
    $0
    Hours/week
    5

  • Sal Gutierrez

    EMERITUS

    Total calculated
    $0
    Hours/week
    0

  • Jeff Chambers

    TRUSTEE

    Total calculated
    $0
    Hours/week
    0

  • Linnea Gerber

    TRUSTEE

    Total calculated
    $0
    Hours/week
    0

  • Zan Peat

    TRUSTEE

    Total calculated
    $0
    Hours/week
    0

  • Barbara Thrasher

    TRUSTEE

    Total calculated
    $0
    Hours/week
    0

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

Provenance

Return type
form_990
Tax year
2023
Filed
7 November 2024
IRS schema version
2023v5.1
Source object
202413169349305191

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