2024-02-20T17:23:51-06:00 2023-06-30 410746749 CLIFTONLARSONALLEN LLP 420 SOUTH ORANGE AVENUE SUITE 900 ORLANDO FL 32801 990 2022-07-01 953874302 EL CAMINO COMMUNITY COLLEGE DISTRICT FOUNDATION ELCA 3106603683 16007 CRENSHAW BLVD TORRANCE CA 90506 ANDREA SALA EXECUTIVE DIRECTOR 3106603683 2024-02-19 1 ANDREA SALA 999009999 0 TINA HENTON P00630282 4078021200 2024-02-19 3 AAL1 IAL1 2022 2023-04-26 12:10:37Z ANDREA SALA 16007 CRENSHAW BLVD TORRANCE CA 90506 5978385 0 X HTTPS://WWW.ELCAMINO.EDU/FOUNDATION/ X 1983 CA SUPPORT STUDENTS' SUCCESS IN EDUCATION AND LIFE. 29 26 0 27 0 0 2117851 2101359 125438 92399 -532252 711612 -12924 0 1698113 2905370 567742 909990 0 0 402367 450330 0 0 219860 909880 812721 1879989 2173041 -181876 732329 17821690 18898534 1011807 1021064 16809883 17877470 THE MISSION OF THE EL CAMINO COLLEGE FOUNDATION IS TO DEVELOP COMMUNITY RELATIONSHIPS AND RAISE FUNDS TO SUPPORT STUDENTS' SUCCESS IN EDUCATION AND LIFE. 0 0 1736946 909990 92399 ESTABLISHED IN 1983, THE EL CAMINO COLLEGE FOUNDATION WAS SET UP TO SUPPORT STUDENT SCHOLARSHIPS, ACADEMIC PROGRAMS AND STEM EDUCATION. OUR VISION IS TO PROVIDE EDUCATIONAL OPPORTUNITIES AND SUCCESS FOR EVERY STUDENT. FOR THE FISCAL YEAR ENDED JUNE 30, 2023 EL CAMINO COLLEGE FOUNDATION AWARDED 889 SCHOLARSHIPS TO STUDENTS DURING THE YEAR AND PROVIDED FUNDS FOR PROGRAMS IN FINE ARTS, ATHLETICS, ALLIED HEALTH, STEM, AND HUMANITIES AS WELL AS EMERGENCY BOOK AND TUITION FUNDS. 1736946 1 1 0 0 0 0 0 0 0 1 0 1 0 1 1 1 1 0 0 0 0 0 0 0 0 0 0 0 1 1 0 0 0 0 0 0 0 0 1 0 0 0 0 1 0 0 0 1 4 0 1 0 0 0 0 0 0 0 0 0 0 0 0 0 X 29 26 0 0 0 0 0 0 0 1 1 0 0 1 1 1 1 1 1 1 1 0 CA X KATE CHOI 3106603593 16007 CRENSHAW BLVD TORRANCE CA 90506 DR BRENDA THAMES DIRECTOR 1.00 40.00 X 0 334429 0 KELSEY IINO DIRECTOR 1.00 40.00 X 0 123538 8604 NINA BAILEY DIRECTOR 1.00 40.00 X 0 76061 10360 LAURIE MCCARTHY PRESIDENT 3.00 0.00 X X 0 0 0 MARK WARONEK IMMEDIATE PAST PRESIDENT 2.00 0.00 X 0 0 0 MARK BURTON DIRECTOR 2.00 0.00 X X 0 0 0 JANAN JOHNSON VICE PRESIDENT I 2.00 0.00 X X 0 0 0 PAUL WAFER VICE PRESIDENT II 2.00 0.00 X X 0 0 0 MICHAEL HIRSCH TREASURER 2.00 0.00 X X 0 0 0 DR LAURIE LOVE SECRETARY 2.00 0.00 X X 0 0 0 KOMAL AHMED DIRECTOR 1.00 0.00 X 0 0 0 LAURIE BRANDT DIRECTOR 1.00 0.00 X 0 0 0 GINO DIGREGORIO DIRECTOR 1.00 0.00 X 0 0 0 CYNTHIA GRANDE DIRECTOR 1.00 0.00 X 0 0 0 VICTOR IBARRA DIRECTOR 1.00 0.00 X 0 0 0 JEFF KERN DIRECTOR 1.00 0.00 X 0 0 0 DAVID LIAW DIRECTOR 1.00 0.00 X 0 0 0 ESTHER MARCIAL DIRECTOR 1.00 0.00 X 0 0 0 BROOKE MATSON DIRECTOR 1.00 0.00 X 0 0 0 JASON NISHIYAMA DIRECTOR 1.00 0.00 X 0 0 0 ANN OBRIEN DIRECTOR 1.00 0.00 X 0 0 0 RICHARD REDE DIRECTOR 1.00 0.00 X 0 0 0 JOSH ROGGE DIRECTOR 1.00 0.00 X 0 0 0 TRACY UNDERWOOD DIRECTOR 1.00 0.00 X 0 0 0 ROB VAN LINGEN DIRECTOR 1.00 0.00 X 0 0 0 DAN VOZENILEK DIRECTOR 1.00 0.00 X 0 0 0 CLAY ZACHRY DIRECTOR 1.00 0.00 X 0 0 0 KATHERINE MASCHLER DIRECTOR 1.00 1.00 X 0 0 0 SIDNEY LEE DIRECTOR 1.00 1.00 X 0 0 0 ANDREA SALA EXECUTIVE DIRECTOR 50.00 0.00 X 0 160890 13813 0 694918 32777 0 0 1 0 0 2101359 105793 2101359 PROGRAM AND OTHER FEES 611600 92399 92399 92399 316700 316700 3467927 3073015 394912 394912 394912 2905370 92399 0 711612 909990 909990 306224 106689 75687 123848 103576 36086 25600 41890 40530 14121 10017 16392 17325 17325 48722 48722 37884 37884 11303 11303 57940 42376 684 14880 29169 27258 1911 HOSPITALITY 438871 427324 11547 IN-KIND CONTRIBUTIONS 105793 86593 19200 EQUIPMENT AND MAINTENAN 44695 44695 ALL OTHER 21019 3930 17089 2173041 1736946 216235 219860 168242 86885 1979296 1979142 14003608 15090384 1670544 1742123 17821690 18898534 29584 69888 982223 951176 1011807 1021064 X 2081493 2203763 14728390 15673707 16809883 17877470 17821690 18898534 X 732329 228798 106460 X X 0 1 X 1 0 X 3214136 1520646 2133963 2117851 2101359 11087955 203110 218229 211789 218199 252284 1103611 3417246 1738875 2345752 2336050 2353643 12191566 178166 12013400 249078 304449 174099 291641 316700 1335967 83362 52375 5657 233548 92399 467341 13994874 0.85840 0.87010 X SCHEDULE A, PART II, LINE 10, EXPLANATION OF OTHER INCOME: OTHER INCOME - 2018 AMOUNT: $ 83,362. 2019 AMOUNT: $ 52,375. 2020 AMOUNT: $ 5,657. 2021 AMOUNT: $ 108,110. 2022 AMOUNT: $ 0. PROGRAM REVENUE - 2021 AMOUNT: $ 125,438. 2022 AMOUNT: $ 92,399. RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 11862136 0 746162 121556 58109 12428633 12099990 319755 -427210 50990 79409 11862136 11447052 286394 1572046 239231 966271 12099990 10716657 1048691 337133 655429 11447052 8628618 2268600 532248 712809 10716657 0.13670 0.86330 1 0 0 INVESTMENTS 15090384 F 15090384 BENEFICIAL INTEREST IN CCCS ENDOWMENT 1660673 BENEFICIAL INTEREST IN CHARITABLE TRUST HELD BY OTHERS 81450 1742123 LIABILITIES UNDER CHARITABLE REMAINDER TRUST 951176 951176 X 3444190 228798 252284 106460 587542 2856648 48722 48722 2905370 2376603 252284 252284 2124319 48722 48722 2173041 PART V, LINE 4: THE FOUNDATION WILL ESTABLISH A NAMED ENDOWMENT FUND AT THE REQUEST OF A DONOR FOR A MINIMUM INITIAL GIFT OF $25,000 THAT WILL BE HELD IN PERPETUITY. FOLLOWING THE CREATION OF THE FUND, SCHOLARSHIPS, GRANTS, AND/OR AWARDS WILL BE DISBURSED FROM THE EARNINGS ON THE ENDOWED FUNDS AND IN KEEPING WITH THE DONOR'S DESIGNATIONS. AS OF JUNE 30, 2023, THE FOUNDATION HELD SIXTY-TWO (62) SEPARATE NAMED ENDOWMENTS TOTALING $10,729,319. INCLUDED IN THAT AMOUNT IS $2,026,333 HELD IN THE ELLA ROSE MADDEN ENDOWMENT FUND, THE INCOME FROM WHICH IS TO BE USED FOR EDUCATION IN THE TRAINING OF PERSONS IN THE CARE AND SPECIAL NEEDS OF ALLIED HEALTHCARE. ALSO INCLUDED IN THE TOTAL NAMED ENDOWMENTS AMOUNT IS $1,979,142 THAT WAS COMMITTED ON APRIL 30, 2013 FOR THE PURPOSE OF ESTABLISHING THE NOBLE ENDOWMENT, TO SUPPORT AN ENDOWED CHAIR IN THE BUSINESS DEPARTMENT OF THE COLLEGE. IN MAY 2008, THE CALIFORNIA COMMUNITY COLLEGES SCHOLARSHIP ENDOWMENT (THE CCCS ENDOWMENT) WAS LAUNCHED VIA A GIFT OF $25 MILLION FROM THE BERNARD OSHER FOUNDATION (THE OSHER FOUNDATION) TO THE FOUNDATION FOR CALIFORNIA COMMUNITY COLLEGES (THE FCCC). THE FCCC AND CALIFORNIA'S COMMUNITY COLLEGES WERE CHALLENGED WITH RAISING AN ADDITIONAL $50 MILLION THROUGH JUNE 2011, FOR WHICH THE OSHER FOUNDATION AGREED TO PROVIDE A 50% MATCH OF UP TO $25 MILLION. THE PURPOSE OF THE CCCS ENDOWMENT IS TO PROVIDE SCHOLARSHIPS FOR STUDENTS IN CALIFORNIA'S COMMUNITY COLLEGE SYSTEM. BASED ON THE TERMS OF THE AGREEMENT BETWEEN THE OSHER FOUNDATION AND THE FCCC, AS WELL AS THE AGREEMENT BETWEEN THE FCCC AND THE FOUNDATION, ALL OF THE FUNDS CONTRIBUTED TO THE CCCS ENDOWMENT, REGARDLESS OF SOURCE, ARE IRREVOCABLE GIFTS TO THE FCCC. THE FOUNDATION HAS AN IRREVOCABLE BENEFICIAL INTEREST IN THE BALANCE OF FUNDS CONTRIBUTED FOR THE BENEFIT OF STUDENTS AT EL CAMINO COLLEGE AND THE ACCUMULATED EARNINGS, WHICH DOES NOT INCLUDE ANY FUNDS CONTRIBUTED BY THE OSHER FOUNDATION. AS OF JUNE 30, 2023 AND 2022, THE FOUNDATION'S BENEFICIAL INTEREST IN THE CCCS ENDOWMENT TOTALED $1,660,673 AND $1,591,872, RESPECTIVELY. WHEN COUPLED WITH FUNDS DISTRIBUTED BUT NOT YET DISBURSED, THE FOUNDATION'S NET ASSETS ATTRIBUTABLE TO THE CCCS ENDOWMENT ARE $1,699,314 AND $1,654,569 AS OF JUNE 30, 2023 AND 2022, RESPECTIVELY. PART X, LINE 2: THE FOUNDATION IS A NONPROFIT PUBLIC BENEFIT CORPORATION THAT IS EXEMPT FROM INCOME TAXES UNDER SECTION 501(C)(3) OF THE INTERNAL REVENUE CODE AND CLASSIFIED BY THE INTERNAL REVENUE SERVICE (IRS) AS A SUPPORTING ORGANIZATION AS PROVIDED IN SECTION 509(A)(3). IT IS ALSO EXEMPT FROM STATE FRANCHISE AND INCOME TAXES UNDER SECTION 23701(D) OF THE CALIFORNIA REVENUE AND TAXATION CODE. ACCORDINGLY, NO PROVISION FOR INCOME TAXES HAS BEEN REFLECTED IN THESE FINANCIAL STATEMENTS. UNITED STATES GENERALLY ACCEPTED ACCOUNTING PRINCIPLES (US GAAP) REQUIRES MANAGEMENT TO EVALUATE TAX POSITIONS TAKEN BY THE FOUNDATION AND RECOGNIZE A TAX LIABILITY (OR ASSET) IF AN UNCERTAIN POSITION HAS BEEN TAKEN THAT MORE LIKELY THAN NOT WOULD NOT BE SUSTAINED UPON EXAMINATION. MANAGEMENT HAS ANALYZED THE TAX POSITIONS TAKEN BY THE FOUNDATION, AND HAS CONCLUDED THAT AS OF JUNE 30, 2023, THERE ARE NO UNCERTAIN POSITIONS TAKEN OR EXPECTED TO BE TAKEN THAT WOULD REQUIRE RECOGNITION OF A LIABILITY (OR ASSET) OR DISCLOSURE IN THE FINANCIAL STATEMENTS. THE PRIMARY TAX POSITIONS EVALUATED ARE RELATED TO THE FOUNDATION'S CONTINUED QUALIFICATION AS A TAX-EXEMPT ORGANIZATION. THE STATUTE OF LIMITATIONS FOR FEDERAL ANDCALIFORNIA PURPOSES IS GENERALLY THREE AND FOUR YEARS, RESPECTIVELY. PART XI, LINE 2D - OTHER ADJUSTMENTS: CHANGE IN SPLIT INTEREST 37,659. CHANGE IN CCCS VALUE 68,801. 1 SCHOLARSHIP 899 909990 PART I, LINE 2: SCHOLARSHIPS ARE AWARDED BASED ON THE FOLLOWING CRITERIA: GPA, FULL-TIME OR PART TIME STATUS, FINANCIAL NEED, AND CONTINUING OR TRANSFERRING EDUCATION. X X 0 0 0 0 0 0 0 0 0 DR BRENDA THAMES DIRECTOR 0 334429 0 0 0 0 0 0 0 0 0 334429 0 0 ANDREA SALA EXECUTIVE DIRECTOR 0 160890 0 0 0 0 0 0 0 13813 0 174703 0 0 PART 1, LINE 3 COMPENSATION FROM THE RELATED ORGANIZATION, EL CAMINO COMMUNITY COLLEGE DISTRICT (THE "COLLEGE"), IS DETERMINED BASED ON WRITTEN EMPLOYMENT CONTRACTS AND APPROVAL OF THE BOARD. COMPENSATION FOR THE FOUNDATION'S EXECUTIVE DIRECTOR IS FULLY PAID BY THE COLLEGE AND THE FOUNDATION REIMBURSES THE COLLEGE FOR HALF OF THE TOTAL PAYROLL COSTS. X 84643 FMV X 2 7000 FMV X VAR. PROGRAM-RELATED DONATIONS 2 14150 0 0 0 0 FORM 990, PART VI, SECTION B, LINE 11B THE FORM 990 IS PREPARED BY THE ORGANIZATION'S OUTSIDE PUBLIC ACCOUNTING FIRM BASED ON INFORMATION PROVIDED BY MANAGEMENT. ONCE A DRAFT OF THE RETURN IS AVAILABLE, IT IS REVIEWED BY MANAGEMENT WITH ANY CHANGES OR REVISIONS INCORPORATED INTO THE FILING. THE FINANCIAL OFFICER AND THE EXECUTIVE DIRECTOR REVIEWS THE FORM 990. THE REVISED RETURN IS THEN SUBMITTED TO THE BOARD OF DIRECTORS AND THE AUDIT COMMITTEE FOR THEIR REVIEW AND APPROVAL PRIOR TO SUBMITTING TO THE IRS. FORM 990, PART VI, SECTION B, LINE 12C MONITORING IS PERFORMED REGULARLY BY THE OFFICERS TO IDENTIFY POTENTIAL CONFLICTS OF INTEREST. ANY QUESTION OF A CONFLICT IS ADDRESSED WITH THE INTERESTED PERSON, WHO IS REQUIRED TO DISCLOSE THE EXISTENCE OF ANY FINANCIAL INTEREST AND BE AFFORDED THE OPPORTUNITY TO DISCLOSE ALL MATERIAL FACTS TO THE BOARD AND EXECUTIVE DIRECTOR. IF A CONFLICT OF INTEREST IS IDENTIFIED, THE APPROPRIATE ACTION IS TAKEN, INCLUDING LIMITATIONS TO THE INDIVIDUAL'S INFLUENCE ON RELATED BUSINESS MATTERS. ADDITIONALLY, BOARD MEMBERS SIGN AN ETHICS POLICY STATEMENT WHICH INCLUDES A REFERENCE TO "CONFLICTS OF INTEREST AND DISCLOSE ANY SPECIFIC SITUATIONS. FORM 990, PART VI, SECTION B, LINE 15 FOUNDATION PERSONNEL ARE FORMALLY EMPLOYED BY THE EL CAMINO COMMUNITY COLLEGE DISTRICT. AS SUCH, COMPENSATION DETERMINATIONS ARE GUIDED PRINCIPALLY BY DISTRICT CLASSIFICATION OF EACH POSITION. FORM 990, PART VI, SECTION C, LINE 19 THE FOUNDATION MAKES ITS AUDITED FINANCIAL STATEMENTS AND FORM 990 AVAILABLE FOR PUBLIC INSPECTION ON ITS WEBSITE. ALL OTHER DOCUMENTATION REQUIRED TO BE AVAILABLE FOR PUBLIC INSPECTION UNDER CALIFORNIA'S NONPROFIT INTEGRITY ACT AND IRS REGULATION ARE AVAILABLE UPON REQUEST. FORM 990, PART XI, LINE 9: CHANGE IN SPLIT INTEREST AGREEMENT 37,659. CHANGE IN CCCS VALUE 68,801. FORM 990, PART XII, LINE 2C: THE PROCESS HAS NOT CHANGED FROM PRIOR YEAR. EL CAMINO COMMUNITY COLLEGE DISTRICT 16007 CRENSHAW BLVD TORRANCE CA 90506 956001060 SECONDARY EDUCATION CA 115 LINE 2 0 0 0 0 0 0 0 0 0 0 0 0 0 0 1 1 1 0 0 0