Nonprofit · EIN 95-6068137
COMMUNITY FOUNDATION OF THE VERDUGOS
Tax-exempt · GLENDALE, CA 91205
Financials
| Year ended | Form | Revenue | Expenses | Net income | Total assets | Liabilities | Net assets |
|---|---|---|---|---|---|---|---|
| December 31, 2024 | 990 | $4,016,356 | $1,107,255 | $2,909,101 | $14,869,271 | $941,623 | $13,927,648 |
| December 31, 2023 | 990 | $887,533 | $1,022,355 | -$134,822 | $14,058,295 | $897,556 | $13,160,739 |
Financial details: 990 for the year ended December 31, 2024
Revenue
- Contributions, gifts and grants
- $308,508
- Program service revenue
- $0
- Investment income
- $3,694,641
- Net gain from sales of assets
- $3,307,180
- Other revenue
- $13,207
Expenses
- Grants and similar amounts paid
- $687,119
- Compensation of officers, directors and key employees
- $122,467
- Other salaries and wages
- $22,915
- Salaries, compensation and benefits (total)
- $197,956
- Professional fundraising fees
- $0
- Legal fees
- $2,500
- Accounting fees
- $11,000
- Occupancy
- $38,640
- Program services (functional)
- $826,361
- Management and general (functional)
- $181,314
- Fundraising (functional)
- $99,580
Balance sheet and other
- Total assets, start of year
- $14,058,295
- Total assets, end of year
- $14,869,271
- Total liabilities, end of year
- $941,623
- Net assets, end of year
- $13,927,648
- Land, buildings and equipment
- $4,988
- Publicly traded securities
- $13,826,291
- Net assets without donor restrictions
- $3,170,402
- Net assets with donor restrictions
- $10,757,246
- Gross receipts
- $15,767,130
- Employees
- 2
- Year formed
- 1956
From the e-filed returns the IRS publishes as XML (latest three processing years; amended returns replace the original). PDF copies at the IRS.
Officers, directors and key employees
As listed on the 990 for the year ended December 31, 2024, highest compensation first.
| Name | Title | Hours / week | Compensation | Other / benefits |
|---|---|---|---|---|
| EDNA KARINSKI | CEO | 50 | $142,011 | $10,500 |
| LISA KOONTZ | Director Trustee or director | 0 | $0 | $0 |
| SHELDON ESKIN | Chairman Trustee or director, Officer | 0 | $0 | $0 |
| ADEL LUZURIAGA | CFO Trustee or director, Officer | 0 | $0 | $0 |
| PETER BAGHDASSARIAN | Secretary Trustee or director, Officer | 0 | $0 | $0 |
| DELYNN RUSSELL | Director Trustee or director | 0 | $0 | $0 |
| MARY BEDROSIAN-VALENCIA | Director Trustee or director | 0 | $0 | $0 |
| MICHAEL W DEAKTOR | Director Trustee or director | 0 | $0 | $0 |
| JUDITH DELLINGER | Director Trustee or director | 0 | $0 | $0 |
| NANCY GUILLEN | Director Trustee or director | 0 | $0 | $0 |
| SEOK JO | Director Trustee or director | 0 | $0 | $0 |
| MANNY MASHHOUD | Director Trustee or director | 0 | $0 | $0 |
| TIMOTHY MCQUAY | Director Trustee or director | 0 | $0 | $0 |
990 for the year ended December 31, 2023: 13 people
| Name | Title | Hours / week | Compensation | Other / benefits |
|---|---|---|---|---|
| EDNA KARINSKI | CEO | 50 | $109,100 | $10,500 |
| LISA KOONTZ | Director Trustee or director | 0 | $0 | $0 |
| SHELDON ESKIN | Chairman Trustee or director, Officer | 0 | $0 | $0 |
| ADEL LUZURIAGA | CFO Trustee or director, Officer | 0 | $0 | $0 |
| PETER BAGHDASSARIAN | Secretary Trustee or director, Officer | 0 | $0 | $0 |
| DELYNN RUSSELL | Director Trustee or director | 0 | $0 | $0 |
| MARY BEDROSIAN-VALENCIA | Director Trustee or director | 0 | $0 | $0 |
| MICHAEL W DEAKTOR | Director Trustee or director | 0 | $0 | $0 |
| JUDITH DELLINGER | Director Trustee or director | 0 | $0 | $0 |
| NANCY GUILLEN | Director Trustee or director | 0 | $0 | $0 |
| SEOK JO | Director Trustee or director | 0 | $0 | $0 |
| MANNY MASHHOUD | Director Trustee or director | 0 | $0 | $0 |
| TIMOTHY MCQUAY | Director Trustee or director | 0 | $0 | $0 |
Address and contacts
- Address (IRS master file)
- 111 E BROADWAY STE 200, GLENDALE, CA 91205-1044
- Signed the 990
- EDNA KARINSKI, CEO
- Phone
- (818) 241-8040
- Website
- WWW.CFVERDUGOS.ORG
- Return prepared by
- RUSS & ALLCROFT CPA
California records
California keeps its own records of charities and corporations. Search them by EIN 95-6068137 or by the name COMMUNITY FOUNDATION OF THE VERDUGOS.
- Attorney General, Registry of Charities and Fundraisers
- Registration status and filed reports (CT-TR-1, RRF-1)
- Secretary of State, bizfile Online
- Corporation status, entity number, agent for service
- Franchise Tax Board
- Entity status letter (state tax exemption, good standing)
Mission
BY COMBINING THE POWER OF DONORS AND CHARITABLE ORGANIZATIONS, THE COMMUNITY FOUNDATION OF THE VERDUGOS INCREASES THE RELIABILITY AND IMPACT OF NON-PROFITS BY ESTABLISHING ENDOWED FUNDS THAT SUPPORT THE IMPACT OF SELF-RELIANT ORGANIZATION THROUGH GRANTS.
Program accomplishments
- DONOR RESTRICTED PASSTHOUGH FUND AND ENDOWMENT FUND GRANTS: PROVIDED AWARDS TO QUALIFIED CHARITABLE INSTITUTIONS IN ACCORDANCE WITH THE WISHES AND ADVICE OF DONORS. GRANTS ARE MADE FROM PASSTHROUGH FUNDS AND ENDOWMENT FUNDS. EACH "ADVISEMENT" MUST MEET GUIDELINES OUTLINED BY THE FOUNDATION, WHICH INCLUDES THAT THE RECIPIENT CHARITABLE INSTITUTION BE IN GOOD STANDING, AND THAT THE GRANT IS GOING TOWARD A CHARITABLE PURPOSE OR NEED. THE FOUNDATION MUST ALSO ASSURE THAT THE GRANT IS NOT INTENDED TO COVER THE COSTS OF EVENT TICKETS IN WHICH A BENEFIT MAY BE RECEIVED BY THE DONORS, ADVISORS, OR ANY RELATED PARTIES. FURTHER, THESE GRANTS CANNOT PROVIDE THE DONORS, ADVISORS, OR ANY RELATED PARTIES WITH ANY BENEFIT THAT COULD BE DEFINED AS A GRANT, LOAN, COMPENSATION, OR SIMILAR PAYMENTS. FURTHER THE FOUNDATION MUST ALSO ENSURE THAT THE GRANT DOES NOT REPRESENT THE PAYMENT OF ANY LEGALLY BINDING PLEDGE OR OTHER FINANCIAL OBLIGATION OF THE DONORS, ADVISORS, OR ANY RELATED PARTIES. EACH FUND IS TRACKED INDIVIDUALLY USING FUND ACCOUNTING BEST PRACTICES. THEREFORE, THE TWO STAFF MEMBERS SPEND CONSIDERABLE TIME MANAGING AND RECORDING TRANSACTIONS AND ACTIVITIES FROM DIFFERENT FUNDS EACH MONTH.Expenses $475,236 · grants $429,223 · revenue $108,280
- SCHOLARSHIPS (GRANTS): AMOUNTS ARE PAID DIRECTLY TO EDUCATIONAL INSTITUTIONS UPON RECEIPT OF PROOF OF ENROLLMENT OF RECIPIENT STUDENTS. AMOUNTS ARE NEVER PAID DIRECTLY TO AN INDIVIDUAL. THE SCHOLARSHIP PROGRAM RUNS ALL YEAR LONG WITH ALL TWO STAFF INVOLVED IN SOME OR ALL ASPECTS OF THE ACTIVITIES. THE SCHOLARSHIP PROGRAM IS A LARGER PART OF THE FOUNDATION'S WORK AND NO FUNDRAISING ACTIVITIES TAKE PLACE AS THE PURPOSE IS TO ISSUE SCHOLARSHIPS/GRANTS FROM FUNDS THAT ARE RESTRICTED. THERE ARE COSTS ASSOCIATED WITH THIS OVERALL PROGRAM THAT ARE INCORPORATED INTO THE OPERATIONAL BUDGET FOR THE FOUNDATION.Expenses $281,091 · grants $212,600 · revenue $161,178
- UNRESTRICTED AND BOARD DESIGNATED GRANTS: PROVIDING AWARDS TO CHARITABLE ORGANIZATIONS (UPON THEIR SUBMISSION OF AN APPLICATION TO ONE COMPETITIVE GRANTMAKING CYCLE ANNUALLY). THERE ARE TWO STAFF MEMBERS EMPLOYED TO ASSIST WITH THE FOUNDATION'S ANNUAL OPERATIONS. GRANTS ARE MADE FOR THE PHYSICAL, SOCIAL, MENTAL, AND EDUCATIONAL WELL-BEING OF RESIDENTS RESIDING IN BURBANK, GLENDALE AND THE FOOTHILL COMMUNITIES OF LA CANADA, LA CRESCENTA, MONTROSE, AND VERDUGO CITY INCLUDING COMMUNITIES SURROUNDING THIS AREA. GRANTS ARE MADE TO AREA NONPROFITS FOR PROGRAMS AND SERVICES RANGING FROM HEALTHCARE NEEDS AND SOCIAL SERVICES, TO THE ARTS, EDUCATION, CIVIC NEEDS, AND ENVIRONMENTAL AND ANIMAL WELFARE SERVICES. BECAUSE OF THE COMPLEXITY OF TRACKING EXPENSES SPENT IN THE ISSUANCE OF GRANTS (AND IN THE REQUESTING OF FOLLOW-UP REPORTS FROM NONPROFITS RECEIVING GRANTS) AND IN TRACKING EXPENSES SPENT IN THE CULTIVATION OF DONORS WISHING TO IMPLEMENT A DONOR ADVISED FUND, TRACKING SPECIFIC ACTIVITIES TO EACH GRANT OR DONOR RELATION WOULD BE IMPRACTICAL. THE FOUNDATION DOES NOT DO ANNUAL CAMPAIGNS OR GALAS OR OTHER FUNDRAISING ACTIVITIES THAT MANY NONPROFITS TAKE PART IN BUT, RATHER, RELIES MORE ON BUILDING ONE-ON -ONE RELATIONSHIPS WITH DONORS AND PROSPECTIVE DONORS THROUGH PLANNED GIVING AND BEQUEST EFFORTS.Expenses $43,144 · grants $28,953 · revenue $33,395
- SIX AGENCY ENDWOMENTS ARE HELD BY THE FOUNDATION.Expenses $26,890 · grants $16,343 · revenue $5,655
What it must file and when
IRS records say it files Form 990 or 990-EZ. Based on its last return; a smaller organization may file the 990-N. Its accounting year ends in December, so each return is due on the 15th day of the 5th month after that.
| Tax year | Year ended | Due | IRS public records |
|---|---|---|---|
| 2025 | December 31, 2025 | May 15, 2026 | Not on file |
| 2024 | December 31, 2024 | May 15, 2025 | 990 on file |
| 2023 | December 31, 2023 | May 15, 2024 | 990 on file |
IRS record
- EIN
- 95-6068137
- Tax-exempt status
- 501(c)(3): Charitable, religious, educational or scientific organization
- Foundation status
- Publicly supported organization (170(b)(1)(A)(vi))
- Donations deductible (Pub 78)
- Public charity, 50% deduction limit
- Exempt since
- 1958
- Accounting year ends
- December
- Files
- Form 990 or 990-EZ
- Category (NTEE)
- Philanthropy, voluntarism and grantmaking foundations (T31)
- Assets (IRS master file)
- $14,869,271
- Income (IRS master file)
- $15,767,130
Filing history
| Form | Year ended | Revenue | Expenses | Assets | Return |
|---|---|---|---|---|---|
| 990 | December 2024 | $4,016,356 | $1,107,255 | $14,869,271 | IRS |
| 990 | December 2023 | $887,533 | $1,022,355 | $14,058,295 | XML |
| 990 | December 2022 | $2,024,256 | $937,693 | $12,922,942 | IRS |
| 990 | December 2021 | – | – | – | IRS |
| 990 | December 2020 | – | – | – | IRS |
| 990 | December 2018 | – | – | – | IRS |
| 990 | December 2017 | – | – | – | IRS |
990-N: the IRS bulk file holds only the latest e-Postcard per organization; earlier years come from archived copies of that file since 2020 and can have gaps (the IRS e-Postcard search lists every one). 990, 990-EZ, 990-PF, 990-T: every e-filed return in the IRS e-file index since 2019; XML for the latest three processing years, amounts from the IRS Statistics of Income extracts before that. PDF copies and determination letters at the IRS (search EIN 95-6068137).
Questions about COMMUNITY FOUNDATION OF THE VERDUGOS
- What is the EIN of COMMUNITY FOUNDATION OF THE VERDUGOS?
- The employer identification number (EIN) of COMMUNITY FOUNDATION OF THE VERDUGOS is 95-6068137.
- Is COMMUNITY FOUNDATION OF THE VERDUGOS tax-exempt?
- Yes. The IRS lists it as tax-exempt under section 501(c)(3) since 1958.
- Are donations to COMMUNITY FOUNDATION OF THE VERDUGOS tax-deductible?
- Yes. It is listed in IRS Publication 78 (Public charity, 50% deduction limit).
- Which annual return does COMMUNITY FOUNDATION OF THE VERDUGOS file?
- Form 990 or 990-EZ. Based on its last return; a smaller organization may file the 990-N.
- When is the next return of COMMUNITY FOUNDATION OF THE VERDUGOS due?
- The return for tax year 2025 (the year ending December 31, 2025) is due May 15, 2026. Form 8868 extends it by six months; the 990-N cannot be extended.
- When did COMMUNITY FOUNDATION OF THE VERDUGOS last file with the IRS?
- The latest return in the IRS public files is the 990 for the year ended December 2024.
- Who are the officers and directors of COMMUNITY FOUNDATION OF THE VERDUGOS?
- The 990 for the year ended December 31, 2024 lists 13 people; 1 received compensation from the organization, the highest $142,011 (EDNA KARINSKI, CEO).
- How much revenue does COMMUNITY FOUNDATION OF THE VERDUGOS have?
- On its 990 for the year ended December 31, 2024 it reported revenue of $4,016,356, expenses of $1,107,255 and total assets of $14,869,271 at year end.
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All nonprofits in GLENDALE · California · Philanthropy, voluntarism and grantmaking foundations