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← LAGUNA BEACH COMMUNITY FOUNDATION

Form 990 for tax year 2024

Filed by LAGUNA BEACH COMMUNITY FOUNDATION.

Totals

Total revenue
$48,187
Total expenses
$332,440
Contributions and grants received
$11,230
Grants paid
$305,380
Program service revenue
$36,957
Investment income
$0
Other revenue
$0
Total assets, end of year
$781,394
Total liabilities, end of year
$0
Net assets or fund balances, end of year
$781,394
Program services expenses (Part IX)
$307,440
Management and general expenses
$25,000
Fundraising expenses
$0
Program service expenses (Part III)
$307,440

Program services were 92.5% 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

    $11,230

  • 2a · Program service revenue: Net Change Investment

    total $36,952 · related or exempt $36,952

  • 2b · Program service revenue: Investment Income

    total $5 · related or exempt $5

Functional expenses

Part IX, the statement of functional expenses.

  • 1 · Grants to domestic organizations and governments

    total $305,380 · program services $305,380

  • 11a · Fees: management

    total $25,743 · program services $743 · management and general $25,000

  • 13 · Office expenses

    total $69 · program services $69

  • 14 · Information technology

    total $289 · program services $289

  • 23 · Insurance

    total $959 · program services $959

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $1,065,647 · end of year $781,394

  • 27 · Net assets without donor restrictions

    beginning of year $1,065,647 · end of year $781,394

Mission and programs · 2024

Mission

The Laguna Beach Community Foundation strengthens our community by encouraging philanthropy. We provide expertise and resources to assist local charities, connect donor passions with nonprofit needs, and work with local professional advisors in assisting their clients in giving now and beyond their lifetimes with a legacy gift.

  • 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 2024, following the instructions left by the donors, we distributed $297,690 from the Terry Smith Trust and the Wayne L Peterson Trust Funds to various organizations, the highest contributions going towards Pomona College ($53,076), FMMC ($50,000), and Sally's Fund Inc. ($50,000).

    Expenses $307,440 · Grants $305,380 · Revenue $36,957

  • 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.

  • Laguna Beach Community Foundation:To establish and maintain charitable funds to promote philanthropy.

As filed on the 2024 return. The filer continues this part on Schedule O, which is not shown here.

Listed in Part VII

  • Nicole Anderson

    Trustee

    Total calculated
    $0
    Hours/week
    1

  • James Fletcher

    Trustee

    Total calculated
    $0
    Hours/week
    1

  • Greg Mech

    Trustee

    Total calculated
    $0
    Hours/week
    1

  • Tom Davis

    Chairman of the Board

    Total calculated
    $0
    Hours/week
    10

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
2024
Filed
25 August 2025
IRS schema version
2024v5.2
Source object
202641059349302054

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