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Nonprofiteer
← TOM AND VALLEY KNUDSEN FOUNDATION

Form 990 for tax year 2023

Filed by TOM AND VALLEY KNUDSEN FOUNDATION.

Totals

Total revenue
$320,772
Total expenses
$315,998
Contributions and grants received
$0
Grants paid
$281,300
Program service revenue
$0
Investment income
$320,772
Other revenue
$0
Total assets, end of year
$5,922,501
Total liabilities, end of year
$0
Net assets or fund balances, end of year
$5,922,501
Program services expenses (Part IX)
$281,300
Management and general expenses
$34,698
Fundraising expenses
$0
Program service expenses (Part III)
$281,300

Program services were 89.0% 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.

  • 3 · Investment income

    total $185,578 · excluded $185,578

  • 7a · Gross sales of assets other than inventory

    securities $430,755

  • 7b · Less cost or other basis and sales expenses

    securities $295,561

  • 7c · Gain or loss

    securities $135,194

  • 7d · Net gain or loss

    total $135,194 · excluded $135,194

Functional expenses

Part IX, the statement of functional expenses.

  • 1 · Grants to domestic organizations and governments

    total $281,300 · program services $281,300

  • 11f · Fees: investment management

    total $18,108 · management and general $18,108

  • 11g · Fees: other

    total $3,018 · management and general $3,018

  • 24e · All other expenses

    total $13,572 · management and general $13,572

Balance sheet

Part X, book values.

  • 2 · Savings and temporary cash investments

    beginning of year $21,324 · end of year $23,806

  • 11 · Investments: publicly traded securities

    beginning of year $5,896,403 · end of year $5,898,695

  • 29 · Capital stock, trust principal or current funds

    beginning of year $5,917,727 · end of year $5,922,501

Mission and programs · 2023

Mission

Direct support of California Institute of Technology, Harvey Mudd College, Loma Linda University, Loyola Marymount University,Mount St. Mary's College, Occidental College, Pomona College, and the University of Redlands to be used for general purposes in accordance with amended and restated bylaws dated 6/2/97.

  • The Tom and Valley Knudsen Foundation invests in savings and marketable securities. The income from these investments is divided between California Institute of Technology, Harvey Mudd College, Loma Linda University, Loyola Marymount University,Mount St. Mary's College, Occidental College, Pomona College, and the University of Redlands to be used for education purposes in accordance with the amended and restated articles of incorporation of the Knudsen Foundation executed in 1997.

    Expenses $281,300 · Grants $281,300

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

Listed in Part VII

  • Scott Richland

    CFO

    Total calculated
    $1,419,063
    From this org
    $0
    From related orgs
    $998,071
    Other
    $420,992
    Hours/week
    0.1 + 40 related

    Schedule J breakdown matched by us

    Base
    $0 + $599,301 related
    Bonus
    $0 + $378,270 related
    Other
    $0 + $20,500 related
    Deferred
    $0 + $389,421 related
    Nontaxable benefits
    $0 + $31,571 related
    Filer's total
    $0 + $1,419,063 related

  • Sharon E Patterson

    President

    Total calculated
    $502,778
    From this org
    $0
    From related orgs
    $436,911
    Other
    $65,867
    Hours/week
    0.5 + 40 related

    Schedule J breakdown matched by us

    Base
    $0 + $424,911 related
    Bonus
    $0
    Other
    $0 + $12,000 related
    Deferred
    $0 + $46,521 related
    Nontaxable benefits
    $0 + $19,346 related
    Filer's total
    $0 + $502,778 related

  • James A Ehlers

    Secretary

    Total calculated
    $248,447
    From this org
    $0
    From related orgs
    $217,256
    Other
    $31,191
    Hours/week
    0.1 + 40 related

    Schedule J breakdown matched by us

    Base
    $0 + $217,256 related
    Bonus
    $0
    Other
    $0
    Deferred
    $0 + $22,316 related
    Nontaxable benefits
    $0 + $8,875 related
    Filer's total
    $0 + $248,447 related

  • Linda Wight Mazur

    Board Member

    Total calculated
    $212,759
    From this org
    $0
    From related orgs
    $189,368
    Other
    $23,391
    Hours/week
    0.1 + 40 related

    Schedule J breakdown matched by us

    Base
    $0 + $189,368 related
    Bonus
    $0
    Other
    $0
    Deferred
    $0 + $19,839 related
    Nontaxable benefits
    $0 + $3,552 related
    Filer's total
    $0 + $212,759 related

  • Stacey L Scoville

    Board Member

    Total calculated
    $283,923
    From this org
    $0
    From related orgs
    $244,207
    Other
    $39,716
    Hours/week
    0.1 + 40 related

    Schedule J breakdown matched by us

    Base
    $0 + $244,207 related
    Bonus
    $0
    Other
    $0
    Deferred
    $0 + $35,964 related
    Nontaxable benefits
    $0 + $3,752 related
    Filer's total
    $0 + $283,923 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

  • 2 · Substantiation required before reimbursing expenses

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

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
13 September 2024
IRS schema version
2023v5.1
Source object
202432829349301348

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