MANHATTAN BEACH EDUCATION FOUNDATION ENDOWMENT FUND: Form 990, tax year 2022
View the entire original 990 at ProPublica ↗
- Organization
- MANHATTAN BEACH EDUCATION FOUNDATION ENDOWMENT FUND (EIN 45-3552314)
- Tax period
- 2022-07-01 to 2023-06-30
- Filed
- 2024-04-19
- IRS object ID
- 202441109349301314
- Schema version
- 2022v5.0
- Source
- Download XML · Original 990 at ProPublica
Every field in the e-filed return. Faint text is the IRS element name, for citing.
Return header ReturnHeader
| Field | Value | IRS element (for citing) |
|---|---|---|
| Return | 2024-04-19T13:09:52-05:00 | ReturnTs |
| Tax Period End | 2023-06-30 | TaxPeriodEndDt |
Preparer Firm PreparerFirmGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Preparer Firm EIN | 953001179 | PreparerFirmEIN |
Preparer Firm Name PreparerFirmName
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | WINDES INC | BusinessNameLine1Txt |
Preparer US Address PreparerUSAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | PO BOX 87 | AddressLine1Txt |
| City | LONG BEACH | CityNm |
| State Abbreviation | CA | StateAbbreviationCd |
| ZIP | 90801 | ZIPCd |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Return Type | 990 | ReturnTypeCd |
| Tax Period Begin | 2022-07-01 | TaxPeriodBeginDt |
Filer Filer
| Field | Value | IRS element (for citing) |
|---|---|---|
| EIN | 453552314 | EIN |
Business Name BusinessName
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | MANHATTAN BEACH EDUCATION FOUNDATION | BusinessNameLine1Txt |
| Business Name Line2 | ENDOWMENT FUND | BusinessNameLine2Txt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Control | MANH | BusinessNameControlTxt |
| Phone | 3103033342 | PhoneNum |
US Address USAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | 325 S PECK AVE | AddressLine1Txt |
| City | MANHATTAN BEACH | CityNm |
| State Abbreviation | CA | StateAbbreviationCd |
| ZIP | 90266 | ZIPCd |
Business Officer BusinessOfficerGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Person | MITCH OZAWA | PersonNm |
| Person Title | TREASURER | PersonTitleTxt |
| Phone | 3103033342 | PhoneNum |
| Signature | 2024-04-17 | SignatureDt |
| Discuss With Paid Preparer | Yes (1) | DiscussWithPaidPreparerInd |
Signing Officer SigningOfficerGrp
Person Full Name PersonFullName
| Field | Value | IRS element (for citing) |
|---|---|---|
| Person First | MITCH | PersonFirstNm |
| Person Last | OZAWA | PersonLastNm |
| Field | Value | IRS element (for citing) |
|---|---|---|
| SSN | 999009999 | SSN |
| Field | Value | IRS element (for citing) |
|---|---|---|
| IRS Responsible Prty Info Curr | Yes (1) | IRSResponsiblePrtyInfoCurrInd |
Preparer Person PreparerPersonGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Preparer Person | AARON PHILLIPS | PreparerPersonNm |
| PTIN | P01654760 | PTIN |
| Phone | 5624351191 | PhoneNum |
| Preparation | 2024-04-17 | PreparationDt |
Additional Filer Information AdditionalFilerInformation
Trusted Customer TrustedCustomerGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Trusted Customer | 2 | TrustedCustomerCd |
| Authentication Assurance Level | AAL1 | AuthenticationAssuranceLevelCd |
| Identity Assurance Level | IAL1 | IdentityAssuranceLevelCd |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Tax | 2022 | TaxYr |
| Build TS | 2023-04-26 12:10:37Z | BuildTS |
Form 990 IRS990
| Field | Value | IRS element (for citing) |
|---|---|---|
| Principal Officer | ROGER SPENCER | PrincipalOfficerNm |
US Address USAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | 325 S PECK AVE | AddressLine1Txt |
| City | MANHATTAN BEACH | CityNm |
| State Abbreviation | CA | StateAbbreviationCd |
| ZIP | 90266 | ZIPCd |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Gross Receipts | $3,039,435 | GrossReceiptsAmt |
| Group Return For Affiliates | 0 | GroupReturnForAffiliatesInd |
| Organization501c3 | Yes (X) | Organization501c3Ind |
| Website Address | ENDOWMENT.MBEF.ORG | WebsiteAddressTxt |
| Type Of Organization Corp | Yes (X) | TypeOfOrganizationCorpInd |
| Formation | 2011 | FormationYr |
| Legal Domicile State | CA | LegalDomicileStateCd |
| Activity Or Mission | THE MANHATTAN BEACH EDUCATION FOUNDATION ENDOWMENT FUND PROVIDES THE MANHATTAN BEACH EDUCATION FOUNDATION WITH A CONTINUING AND SUSTAINABLE FUNDING SOURCE THAT WILL EXPAND AND ENHANCE THE QUALITY OF PUBLIC EDUCATION IN MANHATTAN BEACH, NOW AND FOR GENERATIONS TO COME. | ActivityOrMissionDesc |
| Voting Members Governing Body | 7 | VotingMembersGoverningBodyCnt |
| Voting Members Independent | 7 | VotingMembersIndependentCnt |
| Total Employee | 0 | TotalEmployeeCnt |
| Total Volunteers | 10 | TotalVolunteersCnt |
| Total Gross UBI | $0 | TotalGrossUBIAmt |
| Net Unrelated Bus Txbl Incm | $0 | NetUnrelatedBusTxblIncmAmt |
| PY Contributions Grants | $1,119,234 | PYContributionsGrantsAmt |
| CY Contributions Grants | $1,003,913 | CYContributionsGrantsAmt |
| PY Program Service Revenue | $0 | PYProgramServiceRevenueAmt |
| CY Program Service Revenue | $0 | CYProgramServiceRevenueAmt |
| PY Investment Income | $782,552 | PYInvestmentIncomeAmt |
| CY Investment Income | $982,584 | CYInvestmentIncomeAmt |
| PY Other Revenue | $0 | PYOtherRevenueAmt |
| CY Other Revenue | $0 | CYOtherRevenueAmt |
| PY Total Revenue | $1,901,786 | PYTotalRevenueAmt |
| CY Total Revenue | $1,986,497 | CYTotalRevenueAmt |
| PY Grants And Similar Paid | $1,141,702 | PYGrantsAndSimilarPaidAmt |
| CY Grants And Similar Paid | $1,162,951 | CYGrantsAndSimilarPaidAmt |
| PY Benefits Paid To Members | $0 | PYBenefitsPaidToMembersAmt |
| CY Benefits Paid To Members | $0 | CYBenefitsPaidToMembersAmt |
| PY Salaries Comp Emp Bnft Paid | $0 | PYSalariesCompEmpBnftPaidAmt |
| CY Salaries Comp Emp Bnft Paid | $0 | CYSalariesCompEmpBnftPaidAmt |
| PY Total Prof Fndrsng Expns | $0 | PYTotalProfFndrsngExpnsAmt |
| CY Total Prof Fndrsng Expns | $0 | CYTotalProfFndrsngExpnsAmt |
| CY Total Fundraising Expense | $75,471 | CYTotalFundraisingExpenseAmt |
| PY Other Expenses | $107,911 | PYOtherExpensesAmt |
| CY Other Expenses | $103,156 | CYOtherExpensesAmt |
| PY Total Expenses | $1,249,613 | PYTotalExpensesAmt |
| CY Total Expenses | $1,266,107 | CYTotalExpensesAmt |
| PY Revenues Less Expenses | $652,173 | PYRevenuesLessExpensesAmt |
| CY Revenues Less Expenses | $720,390 | CYRevenuesLessExpensesAmt |
| Total Assets BOY | $21,812,360 | TotalAssetsBOYAmt |
| Total Assets EOY | $23,649,646 | TotalAssetsEOYAmt |
| Total Liabilities BOY | $65,000 | TotalLiabilitiesBOYAmt |
| Total Liabilities EOY | $65,000 | TotalLiabilitiesEOYAmt |
| Net Assets Or Fund Balances BOY | $21,747,360 | NetAssetsOrFundBalancesBOYAmt |
| Net Assets Or Fund Balances EOY | $23,584,646 | NetAssetsOrFundBalancesEOYAmt |
| Mission | MBEF ENDOWMENT PROVIDES MBEF WITH A CONTINUING AND SUSTAINABLE FUNDING SOURCE THAT WILL EXPAND AND ENHANCE THE QUALITY OF PUBLIC EDUCATION IN MANHATTAN BEACH, NOW AND FOR GENERATIONS TO COME. | MissionDesc |
| Significant New Program Srvc | 0 | SignificantNewProgramSrvcInd |
| Significant Change | 0 | SignificantChangeInd |
| Expense | $1,162,951 | ExpenseAmt |
| Grant | $1,162,951 | GrantAmt |
| Desc | THE ORGANIZATION'S MISSION IS TO RAISE, RECEIVE, HOLD, INVEST, AND ADMINISTER FUNDS AND PROPERTY SO RECEIVED, AND TO MAKE EXPENDITURES THEREFROM TO SUPPLY SUPPORTIVE SERVICE AND FUND SPECIFIC PROGRAMS FOR THE BENEFIT OF THE MANHATTAN BEACH EDUCATION FOUNDATION AND IN TURN, THE EDUCATIONAL PROGRAMS OF THE MANHATTAN BEACH UNIFIED SCHOOL DISTRICT. | Desc |
| Total Program Service Expenses | $1,162,951 | TotalProgramServiceExpensesAmt |
| Described In Section501c3 | Yes (1) | DescribedInSection501c3Ind |
| Schedule B Required | Yes (1) | ScheduleBRequiredInd |
| Political Campaign Acty | 0 | PoliticalCampaignActyInd |
| Lobbying Activities | 0 | LobbyingActivitiesInd |
| Subject To Proxy Tax | 0 | SubjectToProxyTaxInd |
| Donor Advised Fund | 0 | DonorAdvisedFundInd |
| Conservation Easements | 0 | ConservationEasementsInd |
| Collections Of Art | 0 | CollectionsOfArtInd |
| Credit Counseling | 0 | CreditCounselingInd |
| Donor Rstr Or Quasi Endowments | Yes (1) | DonorRstrOrQuasiEndowmentsInd |
| Report Land Building Equipment | Yes (1) | ReportLandBuildingEquipmentInd |
| Report Investments Other Sec | 0 | ReportInvestmentsOtherSecInd |
| Report Program Related Invst | 0 | ReportProgramRelatedInvstInd |
| Report Other Assets | 0 | ReportOtherAssetsInd |
| Report Other Liabilities | Yes (1) | ReportOtherLiabilitiesInd |
| Include FIN48 Footnote | Yes (1) | IncludeFIN48FootnoteInd |
| Independent Audit Fincl Stmt | 0 | IndependentAuditFinclStmtInd |
| Consolidated Audit Fincl Stmt | Yes (1) | ConsolidatedAuditFinclStmtInd |
| School Operating | 0 | SchoolOperatingInd |
| Foreign Office | 0 | ForeignOfficeInd |
| Foreign Activities | 0 | ForeignActivitiesInd |
| More Than5000 K To Org | 0 | MoreThan5000KToOrgInd |
| More Than5000 K To Individuals | 0 | MoreThan5000KToIndividualsInd |
| Professional Fundraising | 0 | ProfessionalFundraisingInd |
| Fundraising Activities | 0 | FundraisingActivitiesInd |
| Gaming Activities | 0 | GamingActivitiesInd |
| Operate Hospital | 0 | OperateHospitalInd |
| Grants To Organizations | Yes (1) | GrantsToOrganizationsInd |
| Grants To Individuals | 0 | GrantsToIndividualsInd |
| Schedule J Required | 0 | ScheduleJRequiredInd |
| Tax Exempt Bonds | 0 | TaxExemptBondsInd |
| Engaged In Excess Benefit Trans | 0 | EngagedInExcessBenefitTransInd |
| PY Excess Benefit Trans | 0 | PYExcessBenefitTransInd |
| Loan Outstanding | 0 | LoanOutstandingInd |
| Grant To Related Person | 0 | GrantToRelatedPersonInd |
| Business Rln With Org Mem | 0 | BusinessRlnWithOrgMemInd |
| Business Rln With Fam Mem | 0 | BusinessRlnWithFamMemInd |
| Business Rln With35 Ctrl Ent | 0 | BusinessRlnWith35CtrlEntInd |
| Deductible Non Cash Contri | 0 | DeductibleNonCashContriInd |
| Deductible Art Contribution | 0 | DeductibleArtContributionInd |
| Terminate Operations | 0 | TerminateOperationsInd |
| Partial Liquidation | 0 | PartialLiquidationInd |
| Disregarded Entity | 0 | DisregardedEntityInd |
| Related Entity | Yes (1) | RelatedEntityInd |
| Related Organization Ctrl Ent | 0 | RelatedOrganizationCtrlEntInd |
| Trnsfr Exmpt Non Chrtbl Rltd Org | 0 | TrnsfrExmptNonChrtblRltdOrgInd |
| Activities Conducted Prtshp | 0 | ActivitiesConductedPrtshpInd |
| Schedule O Required | Yes (1) | ScheduleORequiredInd |
| IRP Document | 0 | IRPDocumentCnt |
| IRP Document W2 G | 0 | IRPDocumentW2GCnt |
| Employee | 0 | EmployeeCnt |
| Unrelated Bus Incm Over Limit | 0 | UnrelatedBusIncmOverLimitInd |
| Foreign Financial Account | 0 | ForeignFinancialAccountInd |
| Prohibited Tax Shelter Trans | 0 | ProhibitedTaxShelterTransInd |
| Taxable Party Notification | 0 | TaxablePartyNotificationInd |
| Nondeductible Contributions | 0 | NondeductibleContributionsInd |
| Quid Pro Quo Contributions | 0 | QuidProQuoContributionsInd |
| Form8282 Property Disposed Of | 0 | Form8282PropertyDisposedOfInd |
| Rcv Fnds To Pay Prsnl Bnft Cntrct | 0 | RcvFndsToPayPrsnlBnftCntrctInd |
| Pay Premiums Prsnl Bnft Cntrct | 0 | PayPremiumsPrsnlBnftCntrctInd |
| Indoor Tanning Services | 0 | IndoorTanningServicesInd |
| Subj To Tax Rmnrtn Ex Prcht Pymt | 0 | SubjToTaxRmnrtnExPrchtPymtInd |
| Subject To Excs Tax Net Invst Inc | 0 | SubjectToExcsTaxNetInvstIncInd |
| Info In Schedule O Part VI | Yes (X) | InfoInScheduleOPartVIInd |
| Governing Body Voting Members | 7 | GoverningBodyVotingMembersCnt |
| Independent Voting Member | 7 | IndependentVotingMemberCnt |
| Family Or Business Rln | 0 | FamilyOrBusinessRlnInd |
| Delegation Of Mgmt Duties | 0 | DelegationOfMgmtDutiesInd |
| Change To Org Documents | 0 | ChangeToOrgDocumentsInd |
| Material Diversion Or Misuse | 0 | MaterialDiversionOrMisuseInd |
| Members Or Stockholders | 0 | MembersOrStockholdersInd |
| Election Of Board Members | 0 | ElectionOfBoardMembersInd |
| Decisions Subject To Approva | 0 | DecisionsSubjectToApprovaInd |
| Minutes Of Governing Body | Yes (1) | MinutesOfGoverningBodyInd |
| Minutes Of Committees | Yes (1) | MinutesOfCommitteesInd |
| Officer Mailing Address | 0 | OfficerMailingAddressInd |
| Local Chapters | 0 | LocalChaptersInd |
| Form990 Provided To Gvrn Body | Yes (1) | Form990ProvidedToGvrnBodyInd |
| Conflict Of Interest Policy | Yes (1) | ConflictOfInterestPolicyInd |
| Annual Disclosure Covered Prsn | Yes (1) | AnnualDisclosureCoveredPrsnInd |
| Regular Monitoring Enfrc | Yes (1) | RegularMonitoringEnfrcInd |
| Whistleblower Policy | Yes (1) | WhistleblowerPolicyInd |
| Document Retention Policy | Yes (1) | DocumentRetentionPolicyInd |
| Compensation Process CEO | Yes (1) | CompensationProcessCEOInd |
| Compensation Process Other | Yes (1) | CompensationProcessOtherInd |
| Investment In Joint Venture | 0 | InvestmentInJointVentureInd |
| States Where Copy Of Return Is Fld | CA | StatesWhereCopyOfReturnIsFldCd |
| Own Website | Yes (X) | OwnWebsiteInd |
| Other Website | Yes (X) | OtherWebsiteInd |
| Upon Request | Yes (X) | UponRequestInd |
Books In Care Of Detail BooksInCareOfDetail
| Field | Value | IRS element (for citing) |
|---|---|---|
| Person | HILARY MAHAN EXECUTIVE DIRECTOR | PersonNm |
| Phone | 3103033342 | PhoneNum |
US Address USAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | 325 S PECK AVE | AddressLine1Txt |
| City | MANHATTAN BEACH | CityNm |
| State Abbreviation | CA | StateAbbreviationCd |
| ZIP | 90266 | ZIPCd |
Form990 Part VII Section A Form990PartVIISectionAGrp (9 entries)
| TitleTitleTxt | Average Hours Per WeekAverageHoursPerWeekRt | Individual Trustee Or DirectorIndividualTrusteeOrDirectorInd | OfficerOfficerInd | Reportable Comp From OrgReportableCompFromOrgAmt | Reportable Comp From Rltd OrgReportableCompFromRltdOrgAmt | Other CompensationOtherCompensationAmt | Average Hours Per Week Rltd OrgAverageHoursPerWeekRltdOrgRt | Highest Compensated EmployeeHighestCompensatedEmployeeInd |
|---|---|---|---|---|---|---|---|---|
| MIKE DUCKWORTH | ||||||||
| PRESIDENT | 1.00 | Yes (X) | Yes (X) | $0 | $0 | $0 | ||
| MITCHELL OZAWA | ||||||||
| TREASURER | 5.00 | Yes (X) | Yes (X) | $0 | $0 | $0 | ||
| RICH WEISS | ||||||||
| CIO | 5.00 | Yes (X) | Yes (X) | $0 | $0 | $0 | ||
| GEOFF BREMER | ||||||||
| DIRECTOR | 1.00 | Yes (X) | $0 | $0 | $0 | |||
| JERI VICK | ||||||||
| DIRECTOR | 1.00 | Yes (X) | $0 | $0 | $0 | |||
| ROGER SPENCER | ||||||||
| DIRECTOR | 1.00 | Yes (X) | $0 | $0 | $0 | 1.00 | ||
| ALICE KUO | ||||||||
| DIRECTOR | 1.00 | Yes (X) | $0 | $0 | $0 | 10.00 | ||
| HILARY MAHAN | ||||||||
| EXECUTIVE DIRECTOR | 8.00 | Yes (X) | $0 | $147,056 | $0 | 32.00 | ||
| DAVID BRENNAN | ||||||||
| DIR. OF DEVELOPMENT & PARTNERSHIP | 8.00 | $0 | $118,558 | $0 | 32.00 | Yes (X) | ||
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Reportable Comp From Org | $0 | TotalReportableCompFromOrgAmt |
| Tot Reportable Comp Rltd Org | $265,614 | TotReportableCompRltdOrgAmt |
| Total Other Compensation | $0 | TotalOtherCompensationAmt |
| Indiv Rcvd Greater Than100 K | 0 | IndivRcvdGreaterThan100KCnt |
| Former Ofcr Employees Listed | 0 | FormerOfcrEmployeesListedInd |
| Total Comp Greater Than150 K | 0 | TotalCompGreaterThan150KInd |
| Compensation From Other Srcs | 0 | CompensationFromOtherSrcsInd |
| Cntrct Rcvd Greater Than100 K | 0 | CntrctRcvdGreaterThan100KCnt |
| Related Organizations | $852,088 | RelatedOrganizationsAmt |
| All Other Contributions | $151,825 | AllOtherContributionsAmt |
| Total Contributions | $1,003,913 | TotalContributionsAmt |
Investment Income InvestmentIncomeGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Revenue Column | $535,522 | TotalRevenueColumnAmt |
| Exclusion | $535,522 | ExclusionAmt |
Gross Amount Sales Assets GrossAmountSalesAssetsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Securities | $1,500,000 | SecuritiesAmt |
Less Cost Oth Basis Sales Expnss LessCostOthBasisSalesExpnssGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Securities | $1,052,938 | SecuritiesAmt |
Gain Or Loss GainOrLossGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Securities | $447,062 | SecuritiesAmt |
Net Gain Or Loss Investments NetGainOrLossInvestmentsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Revenue Column | $447,062 | TotalRevenueColumnAmt |
| Exclusion | $447,062 | ExclusionAmt |
Total Revenue TotalRevenueGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Revenue Column | $1,986,497 | TotalRevenueColumnAmt |
| Related Or Exempt Func Income | $0 | RelatedOrExemptFuncIncomeAmt |
| Unrelated Business Revenue | $0 | UnrelatedBusinessRevenueAmt |
| Exclusion | $982,584 | ExclusionAmt |
Grants To Domestic Orgs GrantsToDomesticOrgsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $1,162,951 | TotalAmt |
| Program Services | $1,162,951 | ProgramServicesAmt |
Fees For Services Management FeesForServicesManagementGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $65,000 | TotalAmt |
| Management And General | $19,500 | ManagementAndGeneralAmt |
| Fundraising | $45,500 | FundraisingAmt |
Fees For Services Accounting FeesForServicesAccountingGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $3,600 | TotalAmt |
| Management And General | $3,200 | ManagementAndGeneralAmt |
| Fundraising | $400 | FundraisingAmt |
Office Expenses OfficeExpensesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $1,156 | TotalAmt |
| Management And General | $1,156 | ManagementAndGeneralAmt |
Information Technology InformationTechnologyGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $400 | TotalAmt |
| Management And General | $400 | ManagementAndGeneralAmt |
Insurance InsuranceGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $3,414 | TotalAmt |
| Management And General | $3,414 | ManagementAndGeneralAmt |
Other Expenses OtherExpensesGrp (2 entries)
| DescDesc | TotalTotalAmt | FundraisingFundraisingAmt | Management And GeneralManagementAndGeneralAmt |
|---|---|---|---|
| COMMUNITY RELATIONS | $29,040 | $29,040 | |
| BANK & MERCHANT FEES | $546 | $531 | $15 |
Total Functional Expenses TotalFunctionalExpensesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $1,266,107 | TotalAmt |
| Program Services | $1,162,951 | ProgramServicesAmt |
| Management And General | $27,685 | ManagementAndGeneralAmt |
| Fundraising | $75,471 | FundraisingAmt |
Cash Non Interest Bearing CashNonInterestBearingGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $162,252 | BOYAmt |
| EOY | $159,016 | EOYAmt |
Savings And Temp Cash Invst SavingsAndTempCashInvstGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $9,955 | BOYAmt |
| EOY | $3,807 | EOYAmt |
Pledges And Grants Receivable PledgesAndGrantsReceivableGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| EOY | $500 | EOYAmt |
Prepaid Expenses Defrd Charges PrepaidExpensesDefrdChargesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $7,306 | BOYAmt |
| EOY | $7,353 | EOYAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Land Bldg Equip Cost Or Other Bss | $7,114 | LandBldgEquipCostOrOtherBssAmt |
| Land Bldg Equip Accum Deprec | $7,114 | LandBldgEquipAccumDeprecAmt |
Land Bldg Equip Basis Net LandBldgEquipBasisNetGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $0 | BOYAmt |
| EOY | $0 | EOYAmt |
Investments Pub Traded Sec InvestmentsPubTradedSecGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $20,698,185 | BOYAmt |
| EOY | $22,645,361 | EOYAmt |
Other Assets Total OtherAssetsTotalGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $934,662 | BOYAmt |
| EOY | $833,609 | EOYAmt |
Total Assets TotalAssetsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $21,812,360 | BOYAmt |
| EOY | $23,649,646 | EOYAmt |
Other Liabilities OtherLiabilitiesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $65,000 | BOYAmt |
| EOY | $65,000 | EOYAmt |
Total Liabilities TotalLiabilitiesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $65,000 | BOYAmt |
| EOY | $65,000 | EOYAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Organization Follows FASB117 | Yes (X) | OrganizationFollowsFASB117Ind |
No Donor Restriction Net Assets NoDonorRestrictionNetAssetsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $11,563,106 | BOYAmt |
| EOY | $11,395,597 | EOYAmt |
Donor Restriction Net Assets DonorRestrictionNetAssetsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $10,184,254 | BOYAmt |
| EOY | $12,189,049 | EOYAmt |
Total Net Assets Fund Balance TotalNetAssetsFundBalanceGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $21,747,360 | BOYAmt |
| EOY | $23,584,646 | EOYAmt |
Tot Liab Net Assets Fund Balance TotLiabNetAssetsFundBalanceGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $21,812,360 | BOYAmt |
| EOY | $23,649,646 | EOYAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Reconcilation Revenue Expnss | $720,390 | ReconcilationRevenueExpnssAmt |
| Net Unrlzd Gains Losses Invst | $1,116,896 | NetUnrlzdGainsLossesInvstAmt |
| Other Changes In Net Assets | $0 | OtherChangesInNetAssetsAmt |
| Method Of Accounting Accrual | Yes (X) | MethodOfAccountingAccrualInd |
| Accountant Compile Or Review | 0 | AccountantCompileOrReviewInd |
| FS Audited | Yes (1) | FSAuditedInd |
FS Audited Basis FSAuditedBasisGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Consolidated Basis Fincl Stmt | Yes (X) | ConsolidatedBasisFinclStmtInd |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Audit Committee | Yes (1) | AuditCommitteeInd |
| Federal Grant Audit Required | 0 | FederalGrantAuditRequiredInd |
Schedule A IRS990ScheduleA
| Field | Value | IRS element (for citing) |
|---|---|---|
| Public Organization170 | Yes (X) | PublicOrganization170Ind |
Gifts Grants Contri Rcvd170 GiftsGrantsContriRcvd170Grp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Current Tax Year Minus4 Years | $973,561 | CurrentTaxYearMinus4YearsAmt |
| Current Tax Year Minus3 Years | $275,278 | CurrentTaxYearMinus3YearsAmt |
| Current Tax Year Minus2 Years | $551,180 | CurrentTaxYearMinus2YearsAmt |
| Current Tax Year Minus1 Year | $1,119,234 | CurrentTaxYearMinus1YearAmt |
| Current Tax Year | $1,003,913 | CurrentTaxYearAmt |
| Total | $3,923,166 | TotalAmt |
Total Calendar Year170 TotalCalendarYear170Grp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Current Tax Year Minus4 Years | $973,561 | CurrentTaxYearMinus4YearsAmt |
| Current Tax Year Minus3 Years | $275,278 | CurrentTaxYearMinus3YearsAmt |
| Current Tax Year Minus2 Years | $551,180 | CurrentTaxYearMinus2YearsAmt |
| Current Tax Year Minus1 Year | $1,119,234 | CurrentTaxYearMinus1YearAmt |
| Current Tax Year | $1,003,913 | CurrentTaxYearAmt |
| Total | $3,923,166 | TotalAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Substantial Contributors Tot | $56,634 | SubstantialContributorsTotAmt |
| Public Support Total170 | $3,866,532 | PublicSupportTotal170Amt |
Gross Investment Income170 GrossInvestmentIncome170Grp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Current Tax Year Minus4 Years | $447,982 | CurrentTaxYearMinus4YearsAmt |
| Current Tax Year Minus3 Years | $430,420 | CurrentTaxYearMinus3YearsAmt |
| Current Tax Year Minus2 Years | $425,170 | CurrentTaxYearMinus2YearsAmt |
| Current Tax Year Minus1 Year | $472,838 | CurrentTaxYearMinus1YearAmt |
| Current Tax Year | $535,522 | CurrentTaxYearAmt |
| Total | $2,311,932 | TotalAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Support | $6,235,098 | TotalSupportAmt |
| Public Support CY170 | 0.62010 | PublicSupportCY170Pct |
| Public Support PY170 | 0.63800 | PublicSupportPY170Pct |
| Thirty Thr Pct Suprt Tests CY170 | Yes (X) | ThirtyThrPctSuprtTestsCY170Ind |
Schedule B IRS990ScheduleB
Contributor Information ContributorInformationGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Contributor | RESTRICTED | ContributorNum |
Contributor Business Name ContributorBusinessName
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | RESTRICTED | BusinessNameLine1 |
Contributor US Address ContributorUSAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | RESTRICTED | AddressLine1 |
| Address Line2 | RESTRICTED | AddressLine2 |
| City | RESTRICTED | City |
| State | RESTRICTED | State |
| ZIP Code | RESTRICTED | ZIPCode |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Contributions | RESTRICTED | TotalContributionsAmt |
Schedule D IRS990ScheduleD
CY Endwmt Fund CYEndwmtFundGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Beginning Year Balance | $21,684,221 | BeginningYearBalanceAmt |
| Contributions | $1,003,909 | ContributionsAmt |
| Investment Earnings Or Losses | $2,086,774 | InvestmentEarningsOrLossesAmt |
| Grants Or Scholarships | $1,158,451 | GrantsOrScholarshipsAmt |
| Other Expenditures | $156,000 | OtherExpendituresAmt |
| End Year Balance | $23,460,453 | EndYearBalanceAmt |
CY Minus1 Yr Endwmt Fund CYMinus1YrEndwmtFundGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Beginning Year Balance | $23,975,465 | BeginningYearBalanceAmt |
| Contributions | $1,361,236 | ContributionsAmt |
| Investment Earnings Or Losses | -$2,515,278 | InvestmentEarningsOrLossesAmt |
| Grants Or Scholarships | $1,137,202 | GrantsOrScholarshipsAmt |
| End Year Balance | $21,684,221 | EndYearBalanceAmt |
CY Minus2 Yr Endwmt Fund CYMinus2YrEndwmtFundGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Beginning Year Balance | $18,915,301 | BeginningYearBalanceAmt |
| Contributions | $224,017 | ContributionsAmt |
| Investment Earnings Or Losses | $5,835,564 | InvestmentEarningsOrLossesAmt |
| Grants Or Scholarships | $999,417 | GrantsOrScholarshipsAmt |
| End Year Balance | $23,975,465 | EndYearBalanceAmt |
CY Minus3 Yr Endwmt Fund CYMinus3YrEndwmtFundGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Beginning Year Balance | $19,329,812 | BeginningYearBalanceAmt |
| Contributions | $151,084 | ContributionsAmt |
| Investment Earnings Or Losses | $358,237 | InvestmentEarningsOrLossesAmt |
| Grants Or Scholarships | $923,832 | GrantsOrScholarshipsAmt |
| End Year Balance | $18,915,301 | EndYearBalanceAmt |
CY Minus4 Yr Endwmt Fund CYMinus4YrEndwmtFundGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Beginning Year Balance | $18,208,555 | BeginningYearBalanceAmt |
| Contributions | $973,561 | ContributionsAmt |
| Investment Earnings Or Losses | $971,696 | InvestmentEarningsOrLossesAmt |
| Grants Or Scholarships | $824,000 | GrantsOrScholarshipsAmt |
| End Year Balance | $19,329,812 | EndYearBalanceAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Board Designated Balance EOY | 0.48190 | BoardDesignatedBalanceEOYPct |
| Prmnnt Endowment Balance EOY | 0.37100 | PrmnntEndowmentBalanceEOYPct |
| Term Endowment Balance EOY | 0.14710 | TermEndowmentBalanceEOYPct |
| Endowments Held Unrelated Org | 0 | EndowmentsHeldUnrelatedOrgInd |
| Endowments Held Related Org | 0 | EndowmentsHeldRelatedOrgInd |
Equipment EquipmentGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Other Cost Or Other Basis | $5,696 | OtherCostOrOtherBasisAmt |
| Depreciation | $5,696 | DepreciationAmt |
| Book Value | $0 | BookValueAmt |
Other Land Buildings OtherLandBuildingsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Other Cost Or Other Basis | $1,418 | OtherCostOrOtherBasisAmt |
| Depreciation | $1,418 | DepreciationAmt |
| Book Value | $0 | BookValueAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Book Value Land Buildings | $0 | TotalBookValueLandBuildingsAmt |
Other Liabilities Org OtherLiabilitiesOrgGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Desc | DUE TO MANHATTAN BEACH EDUCATION FOUNDATION | Desc |
| Amt | $65,000 | Amt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Liability | $65,000 | TotalLiabilityAmt |
| Footnote Text | Yes (X) | FootnoteTextInd |
| Total Rev Etc Audited Fincl Stmt | $3,103,393 | TotalRevEtcAuditedFinclStmtAmt |
| Net Unrealized Gains Invst | $1,116,896 | NetUnrealizedGainsInvstAmt |
| Revenue Not Reported | $1,116,896 | RevenueNotReportedAmt |
| Revenue Subtotal | $1,986,497 | RevenueSubtotalAmt |
| Revenue Not Reported Fincl Stmt | $0 | RevenueNotReportedFinclStmtAmt |
| Total Revenue Per Form990 | $1,986,497 | TotalRevenuePerForm990Amt |
| Tot Expns Etc Audited Fincl Stmt | $1,266,107 | TotExpnsEtcAuditedFinclStmtAmt |
| Expenses Not Reported | $0 | ExpensesNotReportedAmt |
| Expenses Subtotal | $1,266,107 | ExpensesSubtotalAmt |
| Expenses Not Rpt Fincl Stmt | $0 | ExpensesNotRptFinclStmtAmt |
| Total Expenses Per Form990 | $1,266,107 | TotalExpensesPerForm990Amt |
Supplemental Information Detail SupplementalInformationDetail (2 entries)
| Form And Line ReferenceFormAndLineReferenceDesc | ExplanationExplanationTxt |
|---|---|
| PART V, LINE 4: | PER ENDOWMENT'S DISBURSEMENT POLICY, IF THE MARKET VALUE OF THE FUNDS IS GREATER THAN $10 MILLION ON DECEMBER 31 OF EACH YEAR, THE BOARD MAY MAKE AN ANNUAL DISBURSEMENT TO MBEF. CURRENT TARGET DISBURSEMENT RATE IS 1% FOR FUND MARKET VALUE $10-$12 MILLION, 2% FOR FUND MARKET VALUE OF $12-$13 MILLION, 3% FOR FUND MARKET VALUE OF $13-$14 MILLION, 4% FOR FUND MARKET VALUE OF $14-$15 MILLION, 5% FOR FUND MARKET VALUE OF OVER $15 MILLION. FOR 2022- THE FUND MARKET VALUE AT 12/31/22 WAS AROUND $21.8 MILLION SO 5% WAS THE DISBURSEMENT RATE. THE BOARD APPROVED $1,158,451 (5% OF THE THREE-YEAR AVERAGE YEAR END MARKET VALUE OF THE ENDOWMENT). |
| PART X, LINE 2: | FIN 48: THE ORGANIZATION RECOGNIZES THE FINANCIAL STATEMENT BENEFIT OF TAX POSITIONS, SUCH AS ITS FILING STATUS AS TAX-EXEMPT, ONLY AFTER DETERMINING THAT THE RELEVANT TAX AUTHORITY WOULD MORE LIKELY THAN NOT SUSTAIN THE POSITION FOLLOWING AN AUDIT. THE ORGANIZATION IS SUBJECT TO POTENTIAL INCOME TAX AUDITS ON OPEN TAX YEARS BY ANY TAXING JURISDICTION IN WHICH IT OPERATES. THE STATUTE OF LIMITATIONS FOR FEDERAL PURPOSES IS THREE YEARS AND FOR CALIFORNIA PURPOSES IS FOUR YEARS. |
Schedule I IRS990ScheduleI
| Field | Value | IRS element (for citing) |
|---|---|---|
| Grant Records Maintained | Yes (1) | GrantRecordsMaintainedInd |
Recipient Table RecipientTable
Recipient Business Name RecipientBusinessName
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | MANHATTAN BEACH EDUCATION FOUNDATION | BusinessNameLine1Txt |
US Address USAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | 325 PECK AVE | AddressLine1Txt |
| City | MANHATTAN BEACH | CityNm |
| State Abbreviation | CA | StateAbbreviationCd |
| ZIP | 90266 | ZIPCd |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Recipient EIN | 953881166 | RecipientEIN |
| IRC Section | 501(C)(3) | IRCSectionDesc |
| Cash Grant | $1,162,951 | CashGrantAmt |
| Non Cash Assistance | $0 | NonCashAssistanceAmt |
| Purpose Of Grant | K-12 EDUCATIONAL SUPPORT | PurposeOfGrantTxt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total501c3 Org | 1 | Total501c3OrgCnt |
Supplemental Information Detail SupplementalInformationDetail
| Field | Value | IRS element (for citing) |
|---|---|---|
| Form And Line Reference | PART I, LINE 2: | FormAndLineReferenceDesc |
| Explanation | PER ENDOWMENT'S DISBURSEMENT POLICY, IF THE MARKET VALUE OF THE FUNDS IS GREATER THAN $10 MILLION ON DECEMBER 31 OF EACH YEAR, THE BOARD MAY MAKE AN ANNUAL DISBURSEMENT TO MBEF. CURRENT TARGET DISBURSEMENT RATE IS 1% FOR FUND MARKET VALUE $10-$12 MILLION, 2% FOR FUND MARKET VALUE OF $12-$13 MILLION, 3% FOR FUND MARKET VALUE OF $13-$14 MILLION, 4% FOR FUND MARKET VALUE OF $14-$15 MILLION, 5% FOR FUND MARKET VALUE OF OVER $15 MILLION. FOR 2022- THE FUND MARKET VALUE AT 12/31/22 WAS AROUND $21.8 MILLION SO 5% WAS THE DISBURSEMENT RATE. THE BOARD APPROVED $1,158,451 (5% OF THE THREE-YEAR AVERAGE YEAR END MARKET VALUE OF THE ENDOWMENT). | ExplanationTxt |
Schedule O IRS990ScheduleO
Supplemental Information Detail SupplementalInformationDetail (4 entries)
| Form And Line ReferenceFormAndLineReferenceDesc | ExplanationExplanationTxt |
|---|---|
| FORM 990, PART VI, SECTION B, LINE 11B | DESCRIBE THE PROCESS USED BY THE ORGANIZATION TO REVIEW THIS FORM 990: THE AUDIT AND COMPLIANCE COMMITTEE REVIEWS AND APPROVES THE FORM 990. IT IS THEN PROVIDED TO THE FULL BOARD FOR FINAL REVIEW, AND THE AUDIT AND COMPLIANCE COMMITTEE CHAIR PRESENTS THE COMMITTEE'S APPROVAL. |
| FORM 990, PART VI, SECTION B, LINE 12C | DID THE ORGANIZATION REGULARLY AND CONSISTENTLY MONITOR THE CONFLICT OF INTEREST POLICY? EMPLOYEES, INDEPENDENT CONTRACTORS, BOARD OF DIRECTOR MEMBERS, AND COMMITTEE MEMBERS MUST SIGN A CONFLICT OF INTEREST DECLARATION ANNUALLY. THE FORMS ARE REVIEWED AND MAINTAINED IN THE ORGANIZATION'S OFFICES. THE PERSON WITH CONFLICT CONCERNS SHALL NOT PARTICIPATE IN DISCUSSION AND VOTE OF THE MATTER. |
| FORM 990, PART VI, SECTION B, LINE 15 | DID THE PROCESS TO DETERMINE COMPENSATION INCLUDE A REVIEW AND APPROVAL BY INDEPENDENT PERSONS, COMPARABLE DATA, AND COMTEMPORANEOUS SUBSTANTIATION OF THE DELIBERATION AND DECISION? EMPLOYEES AND INDEPENDENT CONTRACTORS RECEIVE AN ANNUAL REVIEW WITH THE EXECUTIVE DIRECTOR. THE EXECUTIVE DIRECTOR RECEIVES AN ANNUAL REVIEW WITH THE BOARD PRESIDENT. THESE REVIEWS ARE DOCUMENTED AND PROVIDED TO THE OFFICERS OF THE BOARD. ANY PROPOSED CHANGES TO CURRENT COMPENSATION ARE PROVIDED TO THE OFFICERS OF THE BOARD FOR APPROVAL. THE BOARD APPROVES A BUDGET FOR COMPENSATION IN TOTAL. THE EXECUTIVE DIRECTOR APPROVES THE COMPENSATION PER EMPLOYEE BUT ONLY UP TO THE AUTHORIZED BUDGET AMOUNT. |
| FORM 990, PART VI, SECTION C, LINE 19 | DESCRIBE HOW THE ORGANIZATION MAKES ITS GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICY, AND FINANCIAL STATEMENTS AVAILABLE TO THE PUBLIC: THE ORGANIZATION MAKES GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICY, AND FINANCIAL STATEMENTS AVAILABLE UPON REQUEST. THE ORGANIZATION MAKES ITS FORM 1023 AND FORM 990 AVAILABLE UPON REQUEST. |
Schedule R IRS990ScheduleR
Id Related Tax Exempt Org IdRelatedTaxExemptOrgGrp
Disregarded Entity Name DisregardedEntityName
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | MANHATTAN BEACH EDUCATION FOUNDATION | BusinessNameLine1Txt |
US Address USAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | 325 S PECK AVE | AddressLine1Txt |
| City | MANHATTAN BEACH | CityNm |
| State Abbreviation | CA | StateAbbreviationCd |
| ZIP | 90266 | ZIPCd |
| Field | Value | IRS element (for citing) |
|---|---|---|
| EIN | 953881166 | EIN |
| Primary Activities | PUBLIC CHARITY | PrimaryActivitiesTxt |
| Legal Domicile State | CA | LegalDomicileStateCd |
| Exempt Code Section | 501(C)(3) | ExemptCodeSectionTxt |
| Public Charity Status | LINE 7 | PublicCharityStatusTxt |
| Controlled Organization | 0 | ControlledOrganizationInd |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Receipt Of Int Annts Rnts Rylts | 0 | ReceiptOfIntAnntsRntsRyltsInd |
| Gift Grnt Or Cap Contri To Oth Org | Yes (1) | GiftGrntOrCapContriToOthOrgInd |
| Gift Grnt Cap Contri From Oth Org | Yes (1) | GiftGrntCapContriFromOthOrgInd |
| Loans Or Guarantees To Other Org | 0 | LoansOrGuaranteesToOtherOrgInd |
| Loans Or Guarantees From Oth Org | 0 | LoansOrGuaranteesFromOthOrgInd |
| Div Related Organization | 0 | DivRelatedOrganizationInd |
| Asset Sale To Other Org | 0 | AssetSaleToOtherOrgInd |
| Asset Purchase From Other Org | 0 | AssetPurchaseFromOtherOrgInd |
| Asset Exchange | 0 | AssetExchangeInd |
| Rental Of Facilities To Oth Org | 0 | RentalOfFacilitiesToOthOrgInd |
| Rental Of Fclts From Oth Org | 0 | RentalOfFcltsFromOthOrgInd |
| Perform Of Services For Oth Org | 0 | PerformOfServicesForOthOrgInd |
| Perform Of Services By Other Org | Yes (1) | PerformOfServicesByOtherOrgInd |
| Sharing Of Facilities | Yes (1) | SharingOfFacilitiesInd |
| Paid Employees Sharing | Yes (1) | PaidEmployeesSharingInd |
| Reimbursement Paid To Other Org | Yes (1) | ReimbursementPaidToOtherOrgInd |
| Reimbursement Paid By Other Org | 0 | ReimbursementPaidByOtherOrgInd |
| Transfer To Other Org | 0 | TransferToOtherOrgInd |
| Transfer From Other Org | 0 | TransferFromOtherOrgInd |
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