Form 990 for tax year 2022

Filed by EAST LOS ANGELES COLLEGE FOUNDATION.

Totals

Total revenue: $2,534,474
Total expenses: $2,441,979
Contributions and grants received: $1,400,363
Grants paid: $572,393
Program service revenue: $950,728
Investment income: $183,383
Other revenue: $0
Total assets, end of year: $7,647,778
Total liabilities, end of year: $154,149
Net assets or fund balances, end of year: $7,493,629
Program services expenses (Part IX): $2,017,597
Management and general expenses: $408,576
Fundraising expenses: $15,806
Program service expenses (Part III): $2,017,597

Program services were 82.6% 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.

1e · Government grants (contributions)

$476,544
1f · All other contributions, gifts and grants

$923,819
1g · Noncash contributions included above

$250,691
2a · Program service revenue: CAL SOAPLA

total $557,196 · related or exempt $557,196
2b · Program service revenue: COLLEGE FUTURES

total $280,000 · related or exempt $280,000
2c · Program service revenue: GEAR UP FOR LA

total $113,532 · related or exempt $113,532
3 · Investment income

total $180,353 · excluded $180,353
7a · Gross sales of assets other than inventory

securities $840,056
7b · Less cost or other basis and sales expenses

securities $837,026
7c · Gain or loss

securities $3,030
7d · Net gain or loss

total $3,030 · related or exempt $3,030

Functional expenses

Part IX, the statement of functional expenses.

2 · Grants to domestic individuals

total $572,393 · program services $572,393
5 · Compensation of officers, directors and key employees

total $148,181 · program services $108,172 · management and general $40,009
7 · Other salaries and wages

total $952,271 · program services $695,158 · management and general $257,113
9 · Other employee benefits

total $67,423 · program services $49,219 · management and general $18,204
10 · Payroll taxes

total $55,820 · program services $40,749 · management and general $15,071
11c · Fees: accounting

total $32,000 · program services $14,720 · management and general $10,560 · fundraising $6,720
11g · Fees: other

total $40,090 · program services $23,062 · management and general $8,745 · fundraising $8,283
12 · Advertising and promotion

total $175 · fundraising $175
13 · Office expenses

total $62,832 · program services $29,531 · management and general $32,673 · fundraising $628
16 · Occupancy

total $8,785 · program services $8,785
17 · Travel

total $6,537 · program services $6,537
19 · Conferences, conventions and meetings

total $4,322 · program services $4,322
22 · Depreciation, depletion and amortization

total $13,190 · program services $13,190
23 · Insurance

total $5,342 · program services $5,342
24a · Other expenses: PROGRAM SUPPLIES AND EX

total $401,510 · program services $401,510 · management and general $0 · fundraising $0
24b · Other expenses: BAD DEBT EXPENSE

total $44,907 · program services $44,907 · management and general $0 · fundraising $0
24c · Other expenses: BANK FEES

total $26,201 · program services $0 · management and general $26,201 · fundraising $0

Balance sheet

Part X, book values.

1 · Cash, non-interest-bearing

beginning of year $1,080,342 · end of year $1,584,910
3 · Pledges and grants receivable

beginning of year $426,334 · end of year $590,652
9 · Prepaid expenses and deferred charges

beginning of year $121,514 · end of year $124,014
10a · Land, buildings and equipment: cost or other basis

$95,099
10b · Land, buildings and equipment: accumulated depreciation

$90,629
10c · Land, buildings and equipment, net

beginning of year $17,660 · end of year $4,470
12 · Investments: other securities

beginning of year $5,058,219 · end of year $4,962,150
15 · Other assets

beginning of year $381,582 · end of year $381,582
17 · Accounts payable and accrued expenses

beginning of year $71,962 · end of year $81,404
25 · Other liabilities

beginning of year $72,615 · end of year $72,745
27 · Net assets without donor restrictions

beginning of year $1,237,143 · end of year $2,288,663
28 · Net assets with donor restrictions

beginning of year $5,703,931 · end of year $5,204,966

Mission and programs · 2022

Mission

TO PROMOTE AND ELEVATE THE COLLEGE IN FULFILLING ITS MISSION AND REACHING ITS GOALS THROUGH MARKETING AND ADVOCACY, COMMUNITY AND INDUSTRY CONNECTIONS AND FINANCIAL SUPPORT.

THE CALIFORNIA STUDENT OPPORTUNITY AND ACCESS PROGRAM (CAL-SOAP)WAS ESTABLISHED BY THE STATE LEGISLATURE IN 1978. TODAY, CAL-SOAP IS INSTRUMENTAL IN IMPROVING THE FLOW OF INFORMATION ABOUT POSTSECONDARY EDUCATION AND FINANCIAL AID WHILE RAISING THE ACHIEVEMENT LEVELES OF LOW-INCOME, ELEMENTARY AND SECONDARY SCHOOL STUDENTS OR GEOGRAPHIC REGIONS WITH DOCUMENTED LOW-ELIGIBILITY OR COLLEGE PARTICIPATION RATES, AND WHO ARE FIRST IN THEIR FAMILIES TO ATTEND COLLEGE.

Expenses $201,760 · Grants $57,239 · Revenue $122,010
SCHOLARSHIPS - THE FOUNDATION ADMINISTERS SCHOLARSHIPS FUNDED BY DONATIONS FROM FOUNDATIONS, INDIVIDUALS AND GOVERNMENT PROGRAMS.

Expenses $484,223 · Grants $137,374 · Revenue $280,000
LAUSD GEAR UP CONTRACT: TO INCREASE THE NUMBER OF LOW-INCOME STUDENTS WHO ARE PREPARED TO ENTER AND SUCCEED IN POST SECONDARY EDUCATION. THE PROGRAM PROVIDES SERVICES IN HIGH POVERTY MIDDLE AND HIGH SCHOOLS THROUGH THE FIRST YEAR OF COLLEGE

Expenses $1,331,614 · Grants $377,779 · Revenue $551,748

As filed on the 2022 return.

Listed in Part VII

Paul ChangPAUL CHANG

BOARD MEMBER

Total calculated

$0

Hours/week

1
Hon Luis AyalaHON LUIS AYALA

BOARD MEMBER

Total calculated

$0

Hours/week

1
Helen Romero ShawHELEN ROMERO SHAW

BOARD MEMBER

Total calculated

$0

Hours/week

1
Sandy HoSANDY HO

BOARD MEMBER

Total calculated

$0

Hours/week

1
Ken MaxeyKEN MAXEY

BOARD MEMBER

Total calculated

$0

Hours/week

1
Gabriel MonaresGABRIEL MONARES

VICE PRESIDENT

Total calculated

$0

Hours/week

2
Edward RendonEDWARD RENDON

BOARD MEMBER

Total calculated

$0

Hours/week

1
Pricilla LizarragaPRICILLA LIZARRAGA

BOARD MEMBER

Total calculated

$0

Hours/week

1
Kassandra SanchezKASSANDRA SANCHEZ

TREASURER

Total calculated

$0

Hours/week

2
Tina HwangTINA HWANG

PRESIDENT EMIRITUS

Total calculated

$0

Hours/week

2
Marissa Castro SalvatiMARISSA CASTRO SALVATI

PRESIDENT

Total calculated

$0

Hours/week

4
Christian Contreras EsqCHRISTIAN CONTRERAS ESQ

BOARD MEMBER

Total calculated

$0

Hours/week

1
Arnoldo Jaquez JrARNOLDO JAQUEZ JR

BOARD MEMBER

Total calculated

$0

Hours/week

1
Reyna ValadezREYNA VALADEZ

BOARD MEMBER

Total calculated

$0

Hours/week

1
Maria Elena YepesMARIA ELENA YEPES

BOARD MEMBER

Total calculated

$0

Hours/week

1
Thomas A Di MascioTHOMAS A DI MASCIO

VICE PRESIDENT

Total calculated

$0

Hours/week

2
Dr Alberto J RomanDR ALBERTO J ROMAN

COLLEGE PRESIDENT

Total calculated

$0

Hours/week

2
Armond AghakhanianARMOND AGHAKHANIAN

EXECUTIVE DIRECTOR

Total calculated

$148,181

From this org

$148,181

From related orgs

$0

Other

$0

Hours/week

40

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

No itemized grants to organizations on this return.

Provenance

Return type: form_990
Tax year: 2022
Filed: 15 May 2024
IRS schema version: 2022v5.0
Source object: 202401369349311865

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