2021-04-19T11:36:10-05:00 2020-06-30 953001179 WINDES INC PO BOX 87 LONG BEACH CA 908010087 990 2019-07-01 453552314 MANHATTAN BEACH EDUCATION FOUNDATION ENDOWMENT FUND MANH 3103033342 325 S PECK AVE MANHATTAN BEACH CA 90266 MIKE DUCKWORTH PRESIDENT 3103033342 2021-04-15 1 DONITA M JOSEPH P00286656 5624351191 2021-04-15 2019 2022-09-23 18:48:47Z MIKE DUCKWORTH 325 S PECK AVE MANHATTAN BEACH CA 90266 3661848 0 X ENDOWMENT.MBEF.ORG X 2011 CA 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. 5 5 0 10 0 0 973561 275278 0 0 619640 1104669 0 0 1593201 1379947 878600 983103 0 0 0 0 0 0 46686 87833 75528 966433 1058631 626768 321316 19554391 19188638 68200 124271 19486191 19064367 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. 0 0 983103 983103 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. 983103 1 1 0 0 0 0 0 0 0 1 1 0 0 0 1 1 0 1 0 0 0 0 0 0 0 0 0 1 0 0 0 0 0 0 0 0 0 0 1 0 0 0 0 1 0 0 0 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 X 5 5 0 0 0 0 0 0 0 1 1 0 0 1 1 1 1 1 1 1 0 0 CA X HILARY MAHAN EXECUTIVE DIRECTOR 3103033342 325 S PECK AVE MANHATTAN BEACH CA 90266 MIKE DUCKWORTH PRESIDENT 1.00 1.00 X X 0 0 0 MARY WILSON SECRETARY 5.00 X X 0 0 0 MITCHELL OZAWA TREASURER 5.00 1.00 X X 0 0 0 RICH WEISS CIO 5.00 1.00 X X 0 0 0 GEOFF BREMER DIRECTOR 1.00 X 0 0 0 HILARY MAHAN EXECUTIVE DIRECTOR 8.00 32.00 X 0 112538 0 0 112538 0 0 0 0 0 0 124194 151084 28328 275278 430420 430420 2956150 2281901 674249 674249 674249 1379947 0 0 1104669 983103 983103 65000 19500 45500 3200 3200 2491 1305 1186 403 403 3405 3405 BANK & MERCHANT FEES 1029 1029 1058631 983103 28842 46686 104438 229504 4051 15673 86088 8960 8960 7114 7097 220 17 18534239 18779984 816395 154500 19554391 19188638 3200 65000 124271 68200 124271 X 11904911 11251721 7581280 7812646 19486191 19064367 19554391 19188638 321316 -743140 0 X 0 1 X 1 0 X 969951 1622551 1130312 973561 275278 4971653 969951 1622551 1130312 973561 275278 4971653 64227 4907426 296655 340817 391867 447982 430420 1907741 6879394 0.71340 0.74570 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 19329812 151084 358237 923832 18915301 18208555 973561 971696 824000 19329812 16630063 1130312 1208180 760000 18208555 13912696 1622551 1594816 500000 16630063 13462111 766040 -11455 304000 13912696 0.58770 0.33600 0.07630 0 0 5696 5696 0 1418 1401 17 17 DUE TO MANHATTAN BEACH EDUCATION FOUNDATION 124271 124271 X 636807 -743140 -743140 1379947 0 1379947 1058631 0 1058631 0 1058631 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 2019-20 THE FUND MARKET VALUE AT 12/31/19 WAS AROUND $20.5 MILLION SO 5% WAS THE DISBURSEMENT RATE. THE BOARD APPROVED $923,832 (5% OF THE THREE-YEAR AVERAGE YEAR END MARKET VALUE OF THE ENDOWMENT). PART X, LINE 2: 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 ORGANIZATOIN 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. 1 MANHATTAN BEACH EDUCATION FOUNDATION 325 PECK AVE MANHATTAN BEACH CA 90266 953881166 501(C)(3) 983103 K-12 EDUCATIONAL SUPPORT 1 PART I, LINE 2: 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 2019-20 THE FUND MARKET VALUE AT 12/31/19 WAS AROUND $20.5 MILLION SO 5% WAS THE DISBURSEMENT RATE. THE BOARD APPROVED $923,832 (5% OF THE THREE-YEAR AVERAGE YEAR END MARKET VALUE OF THE ENDOWMENT) X 2 28328 FMV 0 1 0 PART I, COLUMN (B): PART I, COLUMN (B) INDICATES THE NUMBER OF CONTRIBUTIONS. FORM 990, PART VI, SECTION B, LINE 11B 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 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 15A 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 COMPENSATION COMMITTEE. ANY PROPOSED CHANGES TO CURRENT COMPENSATION ARE PROVIDED TO THE COMPENSATION COMMITTEE AND 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 THE ORGANIZATION MAKES GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICY, AND FINANCIAL STATEMENTS AVAILABLE UPON REQUEST. FORM 990, PART VI, SECTION C, LINE 18 THE ORGANIZATION MAKES ITS FORM 1023 AND FORM 990 AVAILABLE UPON REQUEST. MANHATTAN BEACH EDUCATION FOUNDATION 325 S PECK AVE MANHATTAN BEACH CA 90266 953881166 PUBLIC CHARITY CA 501(C)(3) LINE 7 0 0 1 1 0 0 0 0 0 0 0 0 0 1 1 1 1 0 0 0