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Nonprofiteer
← MONTERRA COMMUNITY FUND

Form 990 for tax year 2023

Filed by MONTERRA COMMUNITY FUND.

Totals

Total revenue
$640,273
Total expenses
$831,694
Contributions and grants received
$639,201
Grants paid
$793,183
Program service revenue
$0
Investment income
$1,072
Other revenue
$0
Total assets, end of year
$506,529
Total liabilities, end of year
$30,000
Net assets or fund balances, end of year
$476,529
Program services expenses (Part IX)
$793,183
Management and general expenses
$38,511
Fundraising expenses
$0
Program service expenses (Part III)
$793,183

Program services were 95.4% 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.

  • 1d · Related organizations

    $10,000

  • 1e · Government grants (contributions)

    $94,500

  • 1f · All other contributions, gifts and grants

    $534,701

  • 3 · Investment income

    total $1,072 · excluded $1,072

Functional expenses

Part IX, the statement of functional expenses.

  • 1 · Grants to domestic organizations and governments

    total $374,040 · program services $374,040

  • 2 · Grants to domestic individuals

    total $419,143 · program services $419,143

  • 11b · Fees: legal

    total $1,033 · management and general $1,033

  • 11c · Fees: accounting

    total $33,750 · management and general $33,750

  • 13 · Office expenses

    total $540 · management and general $540

  • 24a · Other expenses: TAXES

    total $400 · management and general $400

  • 24e · All other expenses

    total $2,788 · management and general $2,788

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $140,000 · end of year $0

  • 2 · Savings and temporary cash investments

    beginning of year $1,381,200 · end of year $506,529

  • 3 · Pledges and grants receivable

    beginning of year $31,750 · end of year $0

  • 18 · Grants payable

    beginning of year $160,000 · end of year $5,000

  • 19 · Deferred revenue

    beginning of year $725,000 · end of year $25,000

  • 27 · Net assets without donor restrictions

    beginning of year $667,631 · end of year $476,529

  • 28 · Net assets with donor restrictions

    beginning of year $319 · end of year $0

Mission and programs · 2023

Mission

MONTERRA COMMUNITY FUND IS A 501(C)(3) NONPROFIT FUND CREATED BY MONTERRA CREDIT UNION TO SUPPORT OUR COMMITMENT TO FINANCIAL WELLNESS IN OUR COMMUNITY.

Activities or mission (Part I)

MONTERA COMMUNITY FUND IS A 501(C)(3) NONPROFIT FUND CREATED BY MONTERRA CREDIT UNION TO SUPPORT OUR COMMITMENT TO FINANCIAL WELLNESS IN OUR COMMUNITY.

  • COASTSIDE VICTIMS FUND - THE PURPOSE OF THIS PROGRAM IS TO PROVIDE AID TO VICTIMS OF THE HALF MOON BAY SHOOTING.

    Expenses $254,143 · Grants $254,143

  • DALY CITY SMALL BUSINESS AND RESTAURANTS - THE PURPOSE OF THIS PROGRAM IS TO PROVIDE ASSISTANCE TO SMALL BUSINESSES AND RESTAURANTS LOCATED IN DALY CITY, CA

    Expenses $180,000 · Grants $180,000

  • NORTH FAIR OAKS SMALL BUSINESS - THE PURPOSE OF THIS PROGRAM IS TO PROVIDE ASSISTANCE TO SMALL BUSINESSES LOCATED IN NORTH FAIR OAKS, CA.

    Expenses $165,000 · Grants $165,000

  • RESTAURANT BREWERY WINERY - THE PURPOSE OF THIS PROGRAM IS TO PROVIDE ASSISTANCE TO RESTAURANTS LOCATED IN SAN MATEO COUNTY, CA. PALO ALTO RESTAURANTS - THE PURPOSE OF THIS PROGRAM IS TO PROVIDE ASSISTANCE TO RESTAURANTS LOCATED IN PALO ALTO, CA.SCHOLARSHIPS - THE PURPOSE OF THIS PROGRAM IS TO PROVIDE SCHOLARSHIPS TO INCOMING COLLEGE STUDENTS.COMMUNITY DONATIONS - THE PURPOSE OF THIS PROGRAM IS TO PROVIDE FUNDING TO VARIOUS CHARITIES WITHIN THE COMMUNITY.MICROFOOD - THE PURPOSE OF THIS PROGRAM IS TO PROVIDE ASSISTANCE TO MICRO FOOD BUSINESSES LOCATED IN SAN MATEO COUNTY, CA.SMALL BUSINESS - THE PURPOSE OF THIS PROGRAM IS TO PROVIDE ASSISTANCE TO SMALL BUSINESSES LOCATED IN SAN MATEO COUNTY, CA.

    Expenses $194,040 · Grants $194,040

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

Listed in Part VII

  • Wade Painter

    PRESIDENT

    Total calculated
    $783,470
    From this org
    $0
    From related orgs
    $759,104
    Other
    $24,366
    Hours/week
    1 + 40 related

    Schedule J breakdown matched by us

    Base
    $0 + $653,009 related
    Bonus
    $0 + $95,295 related
    Other
    $0 + $10,800 related
    Deferred
    $0 + $19,800 related
    Nontaxable benefits
    $0 + $4,566 related
    Filer's total
    $0 + $783,470 related

  • David Diamond

    CFO & TREASURER

    Total calculated
    $344,904
    From this org
    $0
    From related orgs
    $328,737
    Other
    $16,167
    Hours/week
    1 + 40 related

    Schedule J breakdown matched by us

    Base
    $0 + $298,152 related
    Bonus
    $0 + $30,585 related
    Other
    $0
    Deferred
    $0 + $12,165 related
    Nontaxable benefits
    $0 + $4,002 related
    Filer's total
    $0 + $344,904 related

  • Valerie Alsip

    DIRECTOR

    Total calculated
    $445,762
    From this org
    $0
    From related orgs
    $429,210
    Other
    $16,552
    Hours/week
    1 + 40 related

    Schedule J breakdown matched by us

    Base
    $0 + $389,693 related
    Bonus
    $0 + $39,517 related
    Other
    $0
    Deferred
    $0 + $15,840 related
    Nontaxable benefits
    $0 + $712 related
    Filer's total
    $0 + $445,762 related

  • Suzanne Knowlton

    SECRETARY

    Total calculated
    $280,308
    From this org
    $0
    From related orgs
    $259,121
    Other
    $21,187
    Hours/week
    1 + 40 related

    Schedule J breakdown matched by us

    Base
    $0 + $184,246 related
    Bonus
    $0 + $74,875 related
    Other
    $0
    Deferred
    $0 + $13,025 related
    Nontaxable benefits
    $0 + $8,162 related
    Filer's total
    $0 + $280,308 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

  • 4b · Supplemental nonqualified retirement plan

Answered no

  • 4a · Severance or change-of-control payment
  • 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

The filer's explanations (Part III)

PART I, LINE 3
THE ORGANIZATION'S PRESIDENT IS COMPENSATED BY MONTERRA CREDIT UNION, A RELATED ORGANIZATION. MONTERRA CREDIT UNION UTILIZES THE FOLLOWING METHODS TO DETERMINE THE COMPENSATION OF THE PRESIDENT: COMPENSATION COMMITTEE; INDEPENDENT COMPENSATION CONSULTANT; COMPENSATION SURVEY OR STUDY; AND APPROVAL BY MONTERRA CREDIT UNION'S BOARD OF DIRECTORS.
PART I, LINE 4B
MONTERRA CREDIT UNION (A RELATED ORGANIZATION OF MONTERRA COMMUNITY FUND, BY DEFINITION OF THE FORM 990 INSTRUCTIONS) HAS MADE A LOAN FOR LIFE INSURANCE PREMIUM PAYMENTS TO THE PRESIDENT OF MONTERRA COMMUNITY FUND RELATING TO HIS SERVICES AS PRESIDENT/CEO OF MONTERRA CREDIT UNION. THE LOAN IS COLLATERALIZED BY THE ASSIGNMENT OF THE POLICY DEATH BENEFITS AND CASH VALUES OF THE LIFE INSURANCE POLICY, PLUS INCOME ANNUITIES USED TO FUND THE POLICY. THE POLICY IS OWNED BY THE PRESIDENT AND THE PRESIDENT HAS THE RIGHT TO NAME THE BENEFICIARIES FOR AMOUNTS NOT SECURED BY THE ASSIGNMENTS.

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

  • THRIVE ALLIANCE

    $12,000

    TO PROVIDE ASSISTANCE TO NONPROFITS LOCATED IN SAN MATEO COUNTY

  • SF ENTERPRISES INC

    $10,000

    TO PROVIDE ASSISTANCE TO BUSINESSES LOCATED IN NORTH FAIR OAKS, CA

  • JAY'S TOWING SERVICE

    $10,000

    TO PROVIDE ASSISTANCE TO BUSINESSES LOCATED IN NORTH FAIR OAKS, CA

  • COCOLA INC

    $10,000

    TO PROVIDE ASSISTANCE TO BUSINESSES LOCATED IN NORTH FAIR OAKS, CA

  • PHO HUYNH HIEP III INC

    $10,000

    TO PROVIDE ASSISTANCE TO BUSINESSES LOCATED IN DALY CITY, CA

  • LULUS AT TOWN AND COUNTRY INC

    $10,000

    TO PROVIDE ASSISTANCE TO RESTAURANTS LOCATED IN PALO ALTO, CA

  • MR FONG'S BARBECUE RESTAURANT INC

    $10,000

    TO PROVIDE ASSISTANCE TO BUSINESSES LOCATED IN DALY CITY, CA

  • SAN FRANCISCO SALES AND MARKETING

    $10,000

    TO PROVIDE ASSISTANCE TO BUSINESSES LOCATED IN DALY CITY, CA

  • DALY CITY HB INC

    $10,000

    TO PROVIDE ASSISTANCE TO BUSINESSES LOCATED IN DALY CITY, CA

  • GONZALEZ TIRES INC

    $10,000

    TO PROVIDE ASSISTANCE TO BUSINESSES LOCATED IN NORTH FAIR OAKS, CA

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

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
14 November 2024
IRS schema version
2023v5.1
Source object
202423209349320577

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

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