Form 990 for tax year 2024
Filed by HILLSBOROUGH SCHOOLS FOUNDATION.
Totals
- Total revenue
- $5,893,210
- Total expenses
- $5,728,131
- Contributions and grants received
- $4,698,178
- Grants paid
- $4,980,980
- Program service revenue
- $0
- Investment income
- $1,199,223
- Other revenue
- -$4,191
- Total assets, end of year
- $22,415,709
- Total liabilities, end of year
- $4,432,836
- Net assets or fund balances, end of year
- $17,982,873
- Program services expenses (Part IX)
- $4,980,980
- Management and general expenses
- $284,728
- Fundraising expenses
- $462,423
- Program service expenses (Part III)
- $4,980,980
Program services were 87.0% 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.
-
1c · Fundraising events
$607,810
-
1f · All other contributions, gifts and grants
$4,090,368
-
1g · Noncash contributions included above
$462,176
-
3 · Investment income
total $745,002 · excluded $745,002
-
7a · Gross sales of assets other than inventory
securities $993,168
-
7b · Less cost or other basis and sales expenses
securities $538,947
-
7c · Gain or loss
securities $454,221
-
7d · Net gain or loss
total $454,221 · excluded $454,221
-
8a · Fundraising events: gross income
$207,614
-
8a · Fundraising events: contributions included on line 1c
$607,810
-
8b · Fundraising events: direct expenses
$211,873
-
8c · Net income from fundraising events
total -$4,259 · excluded -$4,259
-
11a · Other revenue: OTHER REVENUE
total $68 · excluded $68
-
11e · Other revenue, total
$68
Functional expenses
Part IX, the statement of functional expenses.
-
1 · Grants to domestic organizations and governments
total $4,980,980 · program services $4,980,980
-
5 · Compensation of officers, directors and key employees
total $178,000 · management and general $31,613 · fundraising $146,387
-
7 · Other salaries and wages
total $177,947 · management and general $31,604 · fundraising $146,343
-
9 · Other employee benefits
total $45,782 · management and general $27,552 · fundraising $18,230
-
10 · Payroll taxes
total $26,929 · management and general $4,643 · fundraising $22,286
-
11b · Fees: legal
total $3,500 · management and general $3,500
-
11c · Fees: accounting
total $42,000 · management and general $42,000
-
11f · Fees: investment management
total $20,654 · management and general $20,654
-
11g · Fees: other
total $89,721 · management and general $30,530 · fundraising $59,191
-
12 · Advertising and promotion
total $3,521 · fundraising $3,521
-
13 · Office expenses
total $3,727 · management and general $3,727
-
19 · Conferences, conventions and meetings
total $422 · management and general $61 · fundraising $361
-
23 · Insurance
total $7,777 · management and general $7,777
-
24a · Other expenses: BANK FEES
total $37,123 · management and general $37,123
-
24b · Other expenses: BAD DEBT
total $32,600 · management and general $32,600
-
24c · Other expenses: MISCELLANEOUS
total $30,266 · management and general $38 · fundraising $30,228
-
24d · Other expenses: SOFTWARE & IT
total $23,813 · management and general $7,031 · fundraising $16,782
-
24e · All other expenses
total $23,369 · management and general $4,275 · fundraising $19,094
Balance sheet
Part X, book values.
-
2 · Savings and temporary cash investments
beginning of year $1,644,067 · end of year $1,809,565
-
3 · Pledges and grants receivable
beginning of year $115,521 · end of year $66,422
-
9 · Prepaid expenses and deferred charges
beginning of year $35,862 · end of year $21,539
-
10a · Land, buildings and equipment: cost or other basis
$28,838
-
10b · Land, buildings and equipment: accumulated depreciation
$28,838
-
10c · Land, buildings and equipment, net
beginning of year $0 · end of year $0
-
11 · Investments: publicly traded securities
beginning of year $18,824,625 · end of year $20,518,183
-
17 · Accounts payable and accrued expenses
beginning of year $55,227 · end of year $65,836
-
18 · Grants payable
beginning of year $3,700,000 · end of year $4,367,000
-
27 · Net assets without donor restrictions
beginning of year $16,864,848 · end of year $17,942,973
-
28 · Net assets with donor restrictions
end of year $39,900
Mission and programs · 2024
Mission
THE PRIMARY GOAL OF THE ORGANIZATION IS TO PROVIDE SUPPLEMENTARY FINANCIAL SUPPORT FOR THE PUBLIC SCHOOLS OF HILLSBOROUGH, CALIFORNIA, WHEN FUNDING FROM PUBLIC AND OTHER SOURCES IS INADEQUATE TO PROVIDE HIGH QUALITY EDUCTIONAL PROGRAMS AND OPPORTUNITIES FOR THE CHILDREN OF THE COMMUNITY. USES FOR THIS FINANCIAL SUPPORT WOULD INCLUDE, BUT NOT BE LIMITED TO, THE DEVELOPMENT AND ENHANCEMENT OF EDUCATIONAL PROGRAMS, THE PURCHASE OF BOOKS, SPECIALIZED EQUIPMENT AND OTHER ACEDEMIC MATERIALS, AND THE FUNDING OF PERSONNEL, SUCH AS CURRICULUM SPECIALISTS. AS PART OF ITS EFFORTS TO ACHIEVE THIS GOAL, THE FOUNDATION HAS ESTABLISHED AND MANAGES THE FRED SCHWARTZ ENDOWMENT FUND AS A SUPPLEMENTAL FINANCIAL RESOURCE FOR THE BENEFIT OF THE HILLSBOROUGH PUBLIC SCHOOLS.
Activities or mission (Part I)
THE PRIMARY GOAL OF THE ORGANIZATION IS TO PROVIDE SUPPLEMENTARY FINANCIAL SUPPORT FOR THE PUBLIC SCHOOLS OF HILLSBOROUGH, CALIFORNIA, WHEN FUNDING FROM PUBLIC AND OTHER SOURCES IS INADEQUATE TO PROVIDE HIGH QUALITY EDUCATIONAL PROGRAMS AND OPPORTUNITIES FOR THE CHILDREN OF THE COMMUNITY. USES FOR THIS FINANCIAL SUPPORT WOULD INCLUDE, BUT NOT BE LIMITED TO, THE DEVELOPMENT AND ENHANCEMENT OF EDUCATIONAL PROGRAMS, THE PURCHASE OF BOOKS, SPECIALIZED EQUIPMENT AND OTHER ACADEMIC MATERIALS, AND THE FUNDING OF PERSONNEL, SUCH AS CURRICULUM SPECIALISTS. AS PART OF ITS EFFORTS TO ACHEIVE THIS GOAL, THE FOUNDATION HAS ESTABLISHED AND MANAGES THE FRED SCHWARTZ ENDOWMENT FUND AS A SUPPLEMENTAL FINANCIAL RESOURCE FOR THE BENEFIT OF THE HILLSBOROUGH PUBLIC SCHOOLS.
-
ANNUAL GIVING CAMPAIGN IS AN ANNUAL FUND DRIVE TO PARENTS AND COMMUNITY. THE FUNDS RAISED ARE USED TO MAKE GRANTS TO HILLSBOROUGH CITY SCHOOL DISTRICT AS SUPPLEMENTAL FUNDING TO THE SCHOOL DISTRICT BUDGET.
Expenses $4,980,980 · Grants $4,980,980
As filed on the 2024 return. The filer continues this part on Schedule O, which is not shown here.
Listed in Part VII
-
Lisa DuffellLISA DUFFELL
PRESIDENT
- Total calculated
- $0
- Hours/week
- 20
-
Nisha AhluwaliaNISHA AHLUWALIA
PRESIDENT-ELECT
- Total calculated
- $0
- Hours/week
- 2
-
Greg LeonardGREG LEONARD
TREASURER
- Total calculated
- $0
- Hours/week
- 4
-
Megan GermackMEGAN GERMACK
SECRETARY & GOVERNANCE
- Total calculated
- $0
- Hours/week
- 2
-
Cindy PanchulaCINDY PANCHULA
PAST PRESIDENT
- Total calculated
- $0
- Hours/week
- 2
-
Erin SchaeferERIN SCHAEFER
CHAIR, ANNUAL GIVING CAMPAIGN
- Total calculated
- $0
- Hours/week
- 8
-
Tal SimonTAL SIMON
CO-CHAIR, AUDIT & ENDOWMENT
- Total calculated
- $0
- Hours/week
- 2
-
Deepak SarpangalDEEPAK SARPANGAL
CO-CHAIR, AUDIT & ENDOWMENT
- Total calculated
- $0
- Hours/week
- 2
-
Nidhi DashNIDHI DASH
CO-CHAIR, COMMUNICATIONS
- Total calculated
- $0
- Hours/week
- 4
-
Julie KavanaghJULIE KAVANAGH
CO-CHAIR, COMMUNICATIONS
- Total calculated
- $0
- Hours/week
- 4
-
Stephanie CantwellSTEPHANIE CANTWELL
CHAIR, COMMUNITY CAMPAIGN, LEGACY
- Total calculated
- $0
- Hours/week
- 2
-
Jackie HsuJACKIE HSU
CHAIR, CORPORATE OUTREACH
- Total calculated
- $0
- Hours/week
- 2
-
Ting YangTING YANG
CO-CHAIR, EVENTS
- Total calculated
- $0
- Hours/week
- 3
-
Natalie KaoNATALIE KAO
CO-CHAIR, EVENTS
- Total calculated
- $0
- Hours/week
- 3
-
Teri KilTERI KIL
CHAIR, NOMINATING
- Total calculated
- $0
- Hours/week
- 2
-
Amy ReisenbergAMY REISENBERG
CO-CHAIR, PARENT CAMPAIGN
- Total calculated
- $0
- Hours/week
- 3
-
Emily OuEMILY OU
CO-CHAIR, PARENT CAMPAIGN
- Total calculated
- $0
- Hours/week
- 3
-
Sara HestonSARA HESTON
CHAIR, PERSONNEL
- Total calculated
- $0
- Hours/week
- 2
-
Eric DavidsonERIC DAVIDSON
CHAIR, SCHOLAR'S CIRCLE
- Total calculated
- $0
- Hours/week
- 2
-
Kristen GasiorKRISTEN GASIOR
CHAIR, STRATEGIC PLANNING
- Total calculated
- $0
- Hours/week
- 2
-
Shelby Van DorenSHELBY VAN DOREN
ASSOCIATED PARENTS' GROUPS PRESIDENT
- Total calculated
- $0
- Hours/week
- 2
-
Alicia IseroALICIA ISERO
EXECUTIVE DIRECTOR
- Total calculated
- $178,625
- From this org
- $178,625
- From related orgs
- $0
- Other
- $0
- Hours/week
- 40
Schedule J breakdown matched by us
- Base
- $178,625
- Bonus
- $0
- Other
- $0
- Deferred
- $0
- Nontaxable benefits
- $0
- Filer's total
- $178,625
-
Gilbert WaiGILBERT WAI
SCHOOL BOARD LIAISON
- Total calculated
- $0
- Hours/week
- 0 + 20 related
-
Ana De ArceANA DE ARCE
SUPERINTENDENT
- Total calculated
- $0
- Hours/week
- 0 + 40 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
None.
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
-
HILLSBOROUGH CITY SCHOOL DISTRICT
$4,950,980
GENERAL SUPPORT
-
ASSOCIATED PARENTS - HCSD
$30,000
GENERAL SUPPORT
Provenance
- Return type
- form_990
- Tax year
- 2024
- Filed
- 10 November 2025
- IRS schema version
- 2024v5.2
- Source object
- 202523179349301332
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