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Nonprofiteer
← MONTERRA COMMUNITY FUND

Form 990 for tax year 2024

Filed by MONTERRA COMMUNITY FUND.

Totals

Total revenue
$10,510
Total expenses
$75,551
Contributions and grants received
$10,228
Grants paid
$61,968
Program service revenue
$0
Investment income
$282
Other revenue
$0
Total assets, end of year
$411,488
Total liabilities, end of year
$0
Net assets or fund balances, end of year
$411,488
Program services expenses (Part IX)
$61,968
Management and general expenses
$13,583
Fundraising expenses
$0
Program service expenses (Part III)
$61,968

Program services were 82.0% 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.

  • 1f · All other contributions, gifts and grants

    $10,228

  • 3 · Investment income

    total $282 · excluded $282

Functional expenses

Part IX, the statement of functional expenses.

  • 1 · Grants to domestic organizations and governments

    total $36,968 · program services $36,968

  • 2 · Grants to domestic individuals

    total $25,000 · program services $25,000

  • 11b · Fees: legal

    total $1,078 · management and general $1,078

  • 11c · Fees: accounting

    total $11,865 · management and general $11,865

  • 24a · Other expenses: FILING FEES

    total $100 · management and general $100

  • 24e · All other expenses

    total $540 · management and general $540

Balance sheet

Part X, book values.

  • 2 · Savings and temporary cash investments

    beginning of year $506,529 · end of year $411,488

  • 18 · Grants payable

    beginning of year $5,000 · end of year $0

  • 19 · Deferred revenue

    beginning of year $25,000 · end of year $0

  • 27 · Net assets without donor restrictions

    beginning of year $476,529 · end of year $411,488

Mission and programs · 2024

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.

  • DURING 2024, THE ORGANIZATION PROVIDED GRANTS TO NON-PROFIT ORGANIZATIONS LOCATED IN SAN MATEO COUNTY.

    Expenses $36,968 · Grants $36,968

  • DURING 2024, THE ORGANIZATION PROVIDED SCHOLARSHIPS TO STUDENTS WITHIN SAN MATEO COUNTY.

    Expenses $25,000 · Grants $25,000

As filed on the 2024 return.

Listed in Part VII

  • WADE PAINTER

    PRESIDENT

    Total calculated
    $872,583
    From this org
    $0
    From related orgs
    $835,111
    Other
    $37,472
    Hours/week
    1 + 40 related

    Schedule J breakdown matched by us

    Base
    $0 + $681,119 related
    Bonus
    $0 + $143,191 related
    Other
    $0 + $10,801 related
    Deferred
    $0 + $20,700 related
    Nontaxable benefits
    $0 + $16,772 related
    Filer's total
    $0 + $872,583 related

  • VALERIE ALSIP

    DIRECTOR

    Total calculated
    $448,767
    From this org
    $0
    From related orgs
    $420,688
    Other
    $28,079
    Hours/week
    1 + 40 related

    Schedule J breakdown matched by us

    Base
    $0 + $384,287 related
    Bonus
    $0 + $36,401 related
    Other
    $0
    Deferred
    $0 + $16,560 related
    Nontaxable benefits
    $0 + $11,519 related
    Filer's total
    $0 + $448,767 related

  • DAVID DIAMOND

    CFO & TREASURER

    Total calculated
    $403,743
    From this org
    $0
    From related orgs
    $366,095
    Other
    $37,648
    Hours/week
    1 + 40 related

    Schedule J breakdown matched by us

    Base
    $0 + $337,284 related
    Bonus
    $0 + $28,811 related
    Other
    $0
    Deferred
    $0 + $11,570 related
    Nontaxable benefits
    $0 + $26,078 related
    Filer's total
    $0 + $403,743 related

  • SUZANNE KNOWLTON

    SECRETARY

    Total calculated
    $245,047
    From this org
    $0
    From related orgs
    $209,010
    Other
    $36,037
    Hours/week
    1 + 40 related

    Schedule J breakdown matched by us

    Base
    $0 + $190,638 related
    Bonus
    $0 + $18,372 related
    Other
    $0
    Deferred
    $0 + $13,578 related
    Nontaxable benefits
    $0 + $22,459 related
    Filer's total
    $0 + $245,047 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

    $17,000

    TO PROVIDE ASSISTANCE TO NONPROFITS LOCATED IN SAN MATEO COUNTY

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
2024
Filed
6 November 2025
IRS schema version
2024v5.2
Source object
202503119349302640

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