Form 990 for tax year 2023

Totals

Total revenue

$779,048

Total expenses

$624,878

Contributions and grants received

$778,664

Grants paid

$613,955

Program service revenue

$384

Investment income

$0

Other revenue

$0

Total assets, end of year

$1,065,647

Total liabilities, end of year

$0

Net assets or fund balances, end of year

$1,065,647

Program services expenses (Part IX)

$613,955

Management and general expenses

$10,923

Fundraising expenses

$0

Program service expenses (Part III)

$613,955

Program services were 98.3% 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.

Mission and programs · 2023

• Terry Smith Trust Fund & Wayne L Peterson Trust Fund:In 2021, the Foundation was the recipient of a large testamentary gift. The donors left instructions for the Foundation as to how to distribute the funds to certain 501(c)(3) organizations.In 2023, following the instructions left by the donors, we distributed $611,145 from the Terry Smith Trust and the Wayne L Peterson Trust Funds to various organizations, the highest contributions going towards Neighborhood Congregational Church($125,000), Boys and Girls Club ($118,072), SchoolPower($100,000), and Laguna Canyon Foundation ($100,000).

  Expenses $613,955 · Grants $613,955 · Revenue $384

• South Laguna Community Garden:The South Laguna Community Garden Park, established in 2009, is a community space in Laguna Beach, offering a venue for gardening, educational programs, and events. Efforts to purchase the property for permanent preservation have been ongoing, with the South Laguna Civic Association, South Laguna Community Garden Park, and Laguna Beach Community Foundation working together to raise funds.The foundation remains committed to securing the property or finding an alternative location, and all donated funds are safely held by the Laguna Beach Community Foundation in secure, income-generating accounts for future purchase opportunities.

• To establish and maintain charitable funds to promote philanthropy.

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

Listed in Part VII

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

• Neighborhood Congregational Church

  $125,000

  General Fund

• Boys and Girls Club

  $119,840

  General Fund

• SchoolPower

  $101,041

  General Fund

• Laguna Canyon Foundation

  $100,000

  General Fund

• Chhahari

  $50,000

  General Fund

• LB Community Clinic

  $50,000

  General Fund

• LB Patriots Day Parade

  $25,000

  General Fund

• LB Art Museum

  $15,000

  General Fund

• LB Water Polo Foundations

  $15,000

  General Fund

• Laguna College of Art and Design

  $11,229

  General Fund

The 10 largest by cash amount. The API serves every itemized grant.

Provenance

Return type

form_990

Tax year

2023

Filed

12 November 2024

IRS schema version

2023v5.1

Source object

202423529349301802

Check it against the return as filed: the GivingTuesday Data Lake hosts a public copy of the original XML.

The source document this was parsed from is served over the API, which is where bulk and document access live.