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Nonprofiteer
← SAMUELSON FOUNDATION

Form 990 for tax year 2024

Filed by SAMUELSON FOUNDATION.

Totals

Total revenue
$2,880,113
Total expenses
$188,206
Contributions and grants received
$2,681,410
Grants paid
$80,000
Program service revenue
$0
Investment income
$198,703
Other revenue
$0
Total assets, end of year
$6,929,834
Total liabilities, end of year
$1,575,689
Net assets or fund balances, end of year
$5,354,145
Program services expenses (Part IX)
$165,920
Management and general expenses
$22,286
Fundraising expenses
$0
Program service expenses (Part III)
$165,920

Program services were 88.2% 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

    $2,681,410

  • 1g · Noncash contributions included above

    $2,681,410

  • 3 · Investment income

    total $198,703 · excluded $198,703

Functional expenses

Part IX, the statement of functional expenses.

  • 1 · Grants to domestic organizations and governments

    total $80,000 · program services $80,000

  • 11c · Fees: accounting

    total $1,500 · program services $600 · management and general $900

  • 20 · Interest

    total $106,650 · program services $85,320 · management and general $21,330

  • 24a · Other expenses: LICENSES & FEES

    total $50 · management and general $50

  • 24b · Other expenses: BANK FEES

    total $6 · management and general $6

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $30,636 · end of year $108,859

  • 2 · Savings and temporary cash investments

    beginning of year $2,219,929 · end of year $2,152,203

  • 7 · Other notes and loans receivable

    end of year $2,681,410

  • 12 · Investments: other securities

    beginning of year $1,987,362 · end of year $1,987,362

  • 23 · Secured mortgages and notes payable

    beginning of year $1,575,689 · end of year $1,575,689

  • 29 · Capital stock, trust principal or current funds

    beginning of year $0 · end of year $0

  • 30 · Paid-in or capital surplus, or land, building or equipment fund

    beginning of year $0 · end of year $0

  • 31 · Retained earnings, endowment or other funds

    beginning of year $2,662,238 · end of year $5,354,145

Mission and programs · 2024

Mission

SEE SCHEDULE O

Activities or mission (Part I)

TO PERFORM ACTS OF KINDNESS AND LOVE TO THOSE IN NEED BY PROVIDING FOOD, HABITAT, HEALTH AND EDUCATION IN AN ENVIRONMENT OF SOCIAL & ECONOMIC FREEDOM.

  • THE SAMUELSON FOUNDATION OPERATED EXCLUSIVELY FOR THE BENEFIT OF ITS SUPPORTED ORGANIZATIONS TO ASSIST THEM IN CARRYING OUT THEIR CHARITABLE, EDUCATIONAL AND RELIGIOUS MISSIONS. DURING THE YEAR, THE FOUNDATION ALSO PROVIDED A CASH GRANT OF $80,000 TO ITS SUPPORTED ORGANIZATIONS, BEACON HOUSING, INC. (BEACON) AND LA CANADA PRESBYTERIAN CHURCH (LCPC), TO ASSIST THE ORGANIZATIONS IN CARRYING OUT ITS MISSION. BEACON HOUSING, INC. IS A 501(C)(3) ORGANIZATION FURTHER DESCRIBED IN SECTION 509(A)(1) AS A PUBLIC CHARITY WHOSE MISSION IS TO EMPOWER PARTICIPANTS WHO ARE AT-RISK OF HOMELESSNESS TO ACHIEVE HOUSING SECURITY THROUGH THE PROVISION OF SAFE AND LOW-COST LODGING OPTIONS AND SUPPORTIVE SERVICES FOR THEIR INDIVIDUAL NEEDS. BEACON WORKS WITH GROUPS IN CALIFORNIA WHO ARE AT RISK OF HOMELESSNESS, INCLUDING SURVIVORS OF DOMESTIC VIOLENCE AND THEIR CHILDREN AS WELL AS LOW-INCOME FAMILIES, TO REBUILD LIVES FROM THE GROUND UP. BEACON PROVIDES AFFORDABLE PERMANENT HOUSING AND TRANSITIONAL HOUSING IN THE LOS ANGELES AREA AND IN NORTHERN CALIFORNIA. BEACON ALSO PROVIDES ACADEMIC ENRICHMENT PROGRAMS TO SUPPORT THE EDUCATIONAL PURSUITS OF UNDERSERVED STUDENTS FROM DISADVANTAGED BACKGROUNDS. ADDITIONALLY, LCPC'S PURPOSE IS TO INVITE PEOPLE TO FOLLOW JESUS CHRIST AS THEIR SAVIOR AND LORD, ENGAGE THEM IN CHRISTIAN COMMUNITY, AND EQUIP THEM TO WORSHIP AND SERVE GOD IN THE CHURCH AND IN THE WORLD.

    Expenses $165,920 · Grants $80,000

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

Listed in Part VII

  • Reid G Samuelson

    TRUSTEE

    Total calculated
    $0
    Hours/week
    0.5 + 5.75 related

  • H James Schafer

    TRUSTEE

    Total calculated
    $0
    Hours/week
    0.25 + 1 related

  • Gary Awad

    TRUSTEE

    Total calculated
    $0
    Hours/week
    0.25 + 1 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.

Grants on this return

  • BEACON HOUSING INC

    $50,000

    THE ORGANIZATION PROVIDES ENCOURAGEMENT AND ASSISTANCE TO LOW INCOME AND UMEMPLOYED INDIVIDUALS AND FAMILIES, AND AIDS THEM IN RETURNING TO ECONOMIC AND EMOTIONAL BALANCE AND PRODUCTIVITY. CASH WAS DONATED TO ASSIST WITH THEIR MISSION.

  • LA CANADA PRESBYTERIAN CHURCH

    $30,000

    TO INVITE PEOPLE TO FOLLOW JESUS CHRIST AS THEIR SAVIOR AND LORD, ENGAGE THEM IN CHRISTIAN COMMUNITY, AND EQUIP THEM TO WORSHIP AND SERVE GOD IN THE CHURCH AND IN THE WORLD. CASH WAS DONATED TO ASSIST WITH THEIR MISSION.

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
7 November 2025
IRS schema version
2024v5.2
Source object
202543149349304209

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