Civic Intelligence

Manhattan Beach Education Foundation Endowment Fund

990 • Fiscal year 2018 • EIN 45-3552314

Jul 01, 2017 to Jun 30, 2018 • Filed on May 10, 2019

Organization ProfileENDOWMENT.MBEF.ORG
325 S Peck AveManhattan Beach, CA 90266

(310) 303-3342

Siviq Scores

Precomputed percentiles for this filing year versus similar nonprofits in the same peer cohort.

Liabilities / Assets

9th percentile

0.00x

Higher debt load relative to assets than 9% of similar nonprofits.

2018 filings • 501(c)3 • $10M-$25M nonprofits • Source year 2018

Liabilities / Revenue

14th percentile

0.04x

Higher debt load relative to revenue than 14% of similar nonprofits.

2018 filings • 501(c)3 • $10M-$25M nonprofits • Source year 2018

Net Margin

92nd percentile

54%

Higher net margin than 92% of similar nonprofits.

2018 filings • 501(c)3 • $10M-$25M nonprofits • Source year 2018

Top Officer Pay

37th percentile

$140,946

Higher top officer pay than 37% of similar nonprofits.

Top officer pay equals 7.8% of source-year revenue.

2018 filings • 501(c)3 • $10M-$25M nonprofits • Source year 2018

Asset Growth

72nd percentile

8.9%

Faster asset growth than 72% of similar nonprofits.

2018 filings • 501(c)3 • $10M-$25M nonprofits • Annualized from 2017 to 2018

Revenue Growth

14th percentile

-17%

Faster revenue growth than 14% of similar nonprofits.

2018 filings • 501(c)3 • $10M-$25M nonprofits • Annualized from 2017 to 2018

Balance Sheet
Liabilities / Assets9th percentile

Assets

Up

$18,563,560

Up $1,516,707 (+8.9%) from 2017

Net Assets

Up

$18,495,560

Up $1,513,707 (+8.9%) from 2017

Liabilities

Up

$68,000

Up $3,000 (+4.6%) from 2017

Revenue And Expenses
Liabilities / Revenue14th percentileNet Margin92nd percentile

Revenue

Down

$1,813,989

Down $369,249 (-17%) from 2017

Expenses

Up

$841,718

Up $255,680 (+44%) from 2017

Net Income

Down

$972,271

Down $624,929 (-39%) from 2017

Historical Trend

Balance Sheet Trend

Asset Growth72nd percentile

The highlighted filing sits inside the broader history for assets, liabilities, and net assets.

$30M$20M$10M$0Assets 2012: $0Liabilities 2012: $02012Assets 2013: $85,377Net Assets 2013: $85,3772013Assets 2014: $13,303,017Liabilities 2014: $23,535Net Assets 2014: $13,279,4822014Assets 2015: $13,836,325Liabilities 2015: $77,184Net Assets 2015: $13,759,1412015Assets 2016: $14,407,313Liabilities 2016: $72,998Net Assets 2016: $14,334,3152016Assets 2017: $17,046,853Liabilities 2017: $65,000Net Assets 2017: $16,981,8532017Assets 2018: $18,563,560Liabilities 2018: $68,000Net Assets 2018: $18,495,5602018Assets 2019: $19,554,391Liabilities 2019: $68,200Net Assets 2019: $19,486,1912019Assets 2020: $19,188,638Liabilities 2020: $124,271Net Assets 2020: $19,064,3672020Assets 2021: $24,473,098Liabilities 2021: $65,000Net Assets 2021: $24,408,0982021Assets 2022: $21,812,360Liabilities 2022: $65,000Net Assets 2022: $21,747,3602022Assets 2023: $23,649,646Liabilities 2023: $65,000Net Assets 2023: $23,584,6462023Assets 2024: $26,612,248Liabilities 2024: $65,000Net Assets 2024: $26,547,2482024

Highlighted filing

2018

Assets$18,563,560
Liabilities$68,000
Net Assets$18,495,560
Open 2018 Filing

Operations Trend

Revenue Growth14th percentile

Revenue, expenses, and net income across loaded years, with this filing highlighted.

$15M$10M$5.0M$0Revenue 2012: $0Expenses 2012: $0Net Income 2012: $02012Revenue 2013: $127,973Expenses 2013: $42,596Net Income 2013: $85,3772013Revenue 2014: $12,006,988Expenses 2014: $262,758Net Income 2014: $11,744,2302014Revenue 2015: $891,078Expenses 2015: $348,400Net Income 2015: $542,6782015Revenue 2016: $1,838,628Expenses 2016: $383,322Net Income 2016: $1,455,3062016Revenue 2017: $2,183,238Expenses 2017: $586,038Net Income 2017: $1,597,2002017Revenue 2018: $1,813,989Expenses 2018: $841,718Net Income 2018: $972,2712018Revenue 2019: $1,593,201Expenses 2019: $966,433Net Income 2019: $626,7682019Revenue 2020: $1,379,947Expenses 2020: $1,058,631Net Income 2020: $321,3162020Revenue 2021: $1,760,718Expenses 2021: $1,074,289Net Income 2021: $686,4292021Revenue 2022: $1,901,786Expenses 2022: $1,249,613Net Income 2022: $652,1732022Revenue 2023: $1,986,497Expenses 2023: $1,266,107Net Income 2023: $720,3902023Revenue 2024: $3,202,329Expenses 2024: $1,278,236Net Income 2024: $1,924,0932024

Highlighted filing

2018

Revenue$1,813,989
Expenses$841,718
Net Income$972,271
Open 2018 Filing
Jump To
Filing Snapshot
Filing Period
Jul 1, 2017 to Jun 30, 2018
Signed
May 10, 2019
Return Version
2017v2.3
Gross Receipts
$2,172,179
Mission and Program Overview

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.

Balance Sheet Detail
LineBeginningEndChange
Assets
Investments in Publicly Traded Securities$15,282,093$17,206,007▲ $1,923,914
Cash and Non-Interest-Bearing Accounts$280,886$128,706▼ $152,180
Pledges and Grants Receivable$345,342$126,956▼ $218,386
Savings and Temporary Cash Investments$2,883$30,084▲ $27,201
Prepaid Expenses and Deferred Charges$13,874$13,875▲ $1
Land, Buildings, and Equipment, Net$624$422▼ $202
Total Assets$17,046,853$18,563,560▲ $1,516,707
Other Assets Total$1,121,151$1,057,510▼ $63,641
Liabilities
Other Liabilities$65,000$65,000→ $0
Accounts Payable and Accrued Expenses-$3,000-
Total Liabilities$65,000$68,000▲ $3,000
Net Assets / Fund Balance
Unrestricted Net Assets$12,077,361$12,152,933▲ $75,572
Permanently Rstr Net Assets$4,101,424$5,231,736▲ $1,130,312
Temporarily Rstr Net Assets$803,068$1,110,891▲ $307,823
Total Net Assets Fund Balance$16,981,853$18,495,560▲ $1,513,707
Total Liabilities and Net Assets / Fund Balance$17,046,853$18,563,560▲ $1,516,707

Asset Categories

AssetBook ValueDepreciationBasis
Equipment$0$5,696$5,696
Other Land Buildings$422$996$1,418
Other Assets Org$1,057,510--

Endowment Activity

PeriodBeginningContrib.Gain/LossOther UsesEnd
2017$16,630,063$1,130,312▲ $1,208,180-$18,208,555
2016$13,912,696$1,622,551▲ $1,594,816-$16,630,063
2015$13,462,111$766,040▼ $11,455-$13,912,696
2014$13,035,727$375,552▲ $300,832-$13,462,111
2013$53,273$11,325,485▲ $1,772,969-$13,035,727
Compensation and Service Providers
Top Officer Pay37th percentile

Employees

NameTitleFull / Part TimeOtherTotal
Farnaz FlechnerExecutive Director - Until 6/11/18PT$140,946$140,946

Board Members and Trustees

NameTitle
Mike DuckworthPresident
Geoff BremerDirector
Hilary MahanExecutive Director - as of 5/6/18
Rich WeissCIO
Jeff SerotaSecretary
Mitchell OzawaTreasurer (as of January 2018)
Jim ArmstrongTreasurer (through January 2018)
Revenue and Support

Revenue Composition

Contributions and Grants
$1,130,312
Program Service Revenue
$0
Investment Income
$683,677
Other Revenue
$0
All Other Contributions
$156,902
Change in Net Assets
$972,271

Noncash Contribution Practices

Property subject to holding requirements
No
Reviewed unusual noncash gifts
Yes
Third parties used for noncash contributions
No

Noncash Contributions

Contribution TypeContribution CountReported AmountValuation Method
Securities Publicly Traded1$50,498Fair Market Value (FMV)
Total Noncash Contributions1$50,498-

Audited Revenue Reconciliation

Revenue per Audited Statements
$1,813,989
Revenue Not Reported on Financial Statements
$0
Revenue Not Reported on Form 990
$541,436
Total Revenue per Audited Statements
$2,355,425
Total Revenue per Form 990
$1,813,989
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Grants and Similar Amounts Paid$764,500
Other Expenses$77,218
Total Fundraising Expense$50,051
Professional Fundraising Fees$0
Salaries, Compensation, and Employee Benefits$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Grants to Domestic Orgs$764,500--$764,500
Fees for Services Management-$19,500$45,500$65,000
Other Expenses--$4,551$4,551
Insurance-$3,908-$3,908
Fees for Services Accounting-$3,000-$3,000
Office Expenses-$556-$556
Depreciation Depletion-$203-$203
Total Functional Expenses$764,500$27,167$50,051$841,718

Audited Expense Reconciliation

Line ItemAmount
Expenses per Audited Statements$841,718
Total Expenses per Audited Statements$841,718
Total Expenses per Form 990$841,718
Expenses Not Reported on Financial Statements$0
Expenses Not Reported on Form 990$0
International Activity

Grant and Assistance Recipients

RecipientLocationCategoryPurposeAmount
Manhattan Beach Education FoundationManhattan Beach, CA501(c)(3)K-12 Educational Support$764,500
Fundraising, Events, and Gaming
Fundraising activities
No
Gaming activities
No
Professional fundraiser used
No

Fundraising and Gaming Totals

Line ItemAmount
Professional Fundraising Fees$0
Political and Lobbying Activity
Political campaign activity
No
Lobbying activity
No
Subject to proxy tax
No
Debt and Bond Financing

Other Reported Liabilities

LiabilityAmount
Due to Manhattan Beach Education Foundation$65,000
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
Yes
Audit committee
Yes
Backup withholding compliance
Yes
Business relationship with family members
No
Business relationship with organization members
No
Material changes to governing documents
No
Compensation from other sources disclosed
No
CEO compensation reviewed
Yes
Other officer compensation reviewed
No
Conflict-of-interest policy
Yes
Audited financial statements prepared
Yes
Key decisions subject to board approval
No
Management duties delegated
No

Governance Explanations

Form 990, Part VI, Section B, Line 11B

“The form 990 is reviewed by the board of directors and signed by the president once approved.”

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.”

Filing and Contact Details

Filer

Filer Name
Manhattan Beach Education Foundation
EIN
45-3552314
Phone
3103033342
Address
325 S PECK AVE, MANHATTAN BEACH, CA 90266

Signing Officer

Name
Mike Duckworth
Title
President
Phone
3103033342
Signed
2019-05-10
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Mike Duckworth
Formed
2011
Legal Domicile
CA
Voting Board Members
5
Independent Board Members
5
Employees
0
Volunteers
10

Preparer

Firm
Windes Inc
Address
PO BOX 87, LONG BEACH, CA 90801-0087
Preparer
Donita M Joseph
Phone
5624351191
Supplemental Narrative

Financial Statement Notes

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 2017-18 the fund market value at 12/31/17 was around $17.7 million so 5% was the disbursement rate. The board approved $760,000 (5% of the three-year average year end market value of the endowment)”

PART X, LINE 2:

“Mbef-ef 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. Mbef-ef 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.”

Raw XML AppendixShowing 400 of 485 raw XML fields

This appendix keeps the raw XML leaves available for debugging and edge-case review. The human report above is the primary experience.

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IRS990/OtherExpensesGrp/TotalAmt04551
IRS990/OtherLiabilitiesGrp/BOYAmt065000
IRS990/OtherLiabilitiesGrp/EOYAmt065000
IRS990/PartialLiquidationInd00
IRS990/PayPremiumsPrsnlBnftCntrctInd00
IRS990/PermanentlyRstrNetAssetsGrp/BOYAmt04101424
IRS990/PermanentlyRstrNetAssetsGrp/EOYAmt05231736
IRS990/PledgesAndGrantsReceivableGrp/BOYAmt0345342
IRS990/PledgesAndGrantsReceivableGrp/EOYAmt0126956
IRS990/PoliticalCampaignActyInd00
IRS990/PrepaidExpensesDefrdChargesGrp/BOYAmt013874
IRS990/PrepaidExpensesDefrdChargesGrp/EOYAmt013875
IRS990/PrincipalOfficerNm0MIKE DUCKWORTH
IRS990/ProfessionalFundraisingInd00
IRS990/ProhibitedTaxShelterTransInd00
IRS990/PYBenefitsPaidToMembersAmt00
IRS990/PYContributionsGrantsAmt01622551
IRS990/PYExcessBenefitTransInd00
IRS990/PYGrantsAndSimilarPaidAmt0504500
IRS990/PYInvestmentIncomeAmt0560687
IRS990/PYOtherExpensesAmt081538
IRS990/PYOtherRevenueAmt00
IRS990/PYProgramServiceRevenueAmt00
IRS990/PYRevenuesLessExpensesAmt01597200
IRS990/PYSalariesCompEmpBnftPaidAmt00
IRS990/PYTotalExpensesAmt0586038
IRS990/PYTotalProfFndrsngExpnsAmt00
IRS990/PYTotalRevenueAmt02183238
IRS990/QuidProQuoContributionsInd00
IRS990/RcvFndsToPayPrsnlBnftCntrctInd00
IRS990/ReconcilationRevenueExpnssAmt0972271
IRS990/RegularMonitoringEnfrcInd01
IRS990/RelatedEntityInd01
IRS990/RelatedOrganizationCtrlEntInd00
IRS990/RelatedOrganizationsAmt0973410
IRS990/ReportInvestmentsOtherSecInd00
IRS990/ReportLandBuildingEquipmentInd01
IRS990/ReportOtherAssetsInd01
IRS990/ReportOtherLiabilitiesInd01
IRS990/ReportProgramRelatedInvstInd00
IRS990/SavingsAndTempCashInvstGrp/BOYAmt02883
IRS990/SavingsAndTempCashInvstGrp/EOYAmt030084
IRS990ScheduleA/Form990ScheduleAPartVIGrp/ExplanationTxt0DESCRIPTION: TO MEET FINANCIAL REQUIREMENTS OF MBEF. DATE: 06/30/14 AMOUNT: 11083903.
IRS990ScheduleA/Form990ScheduleAPartVIGrp/FormAndLineReferenceDesc0SCHEDULE A, PART VI, LIST OF UNUSUAL GRANTS:
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/CurrentTaxYearAmt01130312
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/CurrentTaxYearMinus1YearAmt01622551
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/CurrentTaxYearMinus2YearsAmt0969951
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/CurrentTaxYearMinus3YearsAmt0527226
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/CurrentTaxYearMinus4YearsAmt0910694
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/TotalAmt05160734
IRS990ScheduleA/GrossInvestmentIncome170Grp/CurrentTaxYearAmt0391867
IRS990ScheduleA/GrossInvestmentIncome170Grp/CurrentTaxYearMinus1YearAmt0340817
IRS990ScheduleA/GrossInvestmentIncome170Grp/CurrentTaxYearMinus2YearsAmt0296655
IRS990ScheduleA/GrossInvestmentIncome170Grp/CurrentTaxYearMinus3YearsAmt0287473
IRS990ScheduleA/GrossInvestmentIncome170Grp/CurrentTaxYearMinus4YearsAmt0277749
IRS990ScheduleA/GrossInvestmentIncome170Grp/TotalAmt01594561
IRS990ScheduleA/PublicOrganization170Ind0X
IRS990ScheduleA/PublicSupportCY170Pct00.76400
IRS990ScheduleA/PublicSupportTotal170Amt05160734
IRS990ScheduleA/ThirtyThrPctSuprtTestsCY170Ind0X
IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearAmt01130312
IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearMinus1YearAmt01622551
IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearMinus2YearsAmt0969951
IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearMinus3YearsAmt0527226
IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearMinus4YearsAmt0910694
IRS990ScheduleA/TotalCalendarYear170Grp/TotalAmt05160734
IRS990ScheduleA/TotalSupportAmt06755295
IRS990/ScheduleBRequiredInd01
IRS990ScheduleD/BoardDesignatedBalanceEOYPct00.65790
IRS990ScheduleD/CYEndwmtFundGrp/BeginningYearBalanceAmt016630063
IRS990ScheduleD/CYEndwmtFundGrp/ContributionsAmt01130312
IRS990ScheduleD/CYEndwmtFundGrp/EndYearBalanceAmt018208555
IRS990ScheduleD/CYEndwmtFundGrp/GrantsOrScholarshipsAmt0760000
IRS990ScheduleD/CYEndwmtFundGrp/InvestmentEarningsOrLossesAmt01208180
IRS990ScheduleD/CYMinus1YrEndwmtFundGrp/BeginningYearBalanceAmt013912696
IRS990ScheduleD/CYMinus1YrEndwmtFundGrp/ContributionsAmt01622551
IRS990ScheduleD/CYMinus1YrEndwmtFundGrp/EndYearBalanceAmt016630063
IRS990ScheduleD/CYMinus1YrEndwmtFundGrp/GrantsOrScholarshipsAmt0500000
IRS990ScheduleD/CYMinus1YrEndwmtFundGrp/InvestmentEarningsOrLossesAmt01594816
IRS990ScheduleD/CYMinus2YrEndwmtFundGrp/BeginningYearBalanceAmt013462111
IRS990ScheduleD/CYMinus2YrEndwmtFundGrp/ContributionsAmt0766040
IRS990ScheduleD/CYMinus2YrEndwmtFundGrp/EndYearBalanceAmt013912696
IRS990ScheduleD/CYMinus2YrEndwmtFundGrp/GrantsOrScholarshipsAmt0304000
IRS990ScheduleD/CYMinus2YrEndwmtFundGrp/InvestmentEarningsOrLossesAmt0-11455
IRS990ScheduleD/CYMinus3YrEndwmtFundGrp/BeginningYearBalanceAmt013035727
IRS990ScheduleD/CYMinus3YrEndwmtFundGrp/ContributionsAmt0375552
IRS990ScheduleD/CYMinus3YrEndwmtFundGrp/EndYearBalanceAmt013462111
IRS990ScheduleD/CYMinus3YrEndwmtFundGrp/GrantsOrScholarshipsAmt0250000
IRS990ScheduleD/CYMinus3YrEndwmtFundGrp/InvestmentEarningsOrLossesAmt0300832
IRS990ScheduleD/CYMinus4YrEndwmtFundGrp/BeginningYearBalanceAmt053273
IRS990ScheduleD/CYMinus4YrEndwmtFundGrp/ContributionsAmt011325485
IRS990ScheduleD/CYMinus4YrEndwmtFundGrp/EndYearBalanceAmt013035727
IRS990ScheduleD/CYMinus4YrEndwmtFundGrp/GrantsOrScholarshipsAmt0116000
IRS990ScheduleD/CYMinus4YrEndwmtFundGrp/InvestmentEarningsOrLossesAmt01772969
IRS990ScheduleD/EndowmentsHeldRelatedOrgInd00
IRS990ScheduleD/EndowmentsHeldUnrelatedOrgInd00
IRS990ScheduleD/EquipmentGrp/BookValueAmt00
IRS990ScheduleD/EquipmentGrp/DepreciationAmt05696
IRS990ScheduleD/EquipmentGrp/OtherCostOrOtherBasisAmt05696
IRS990ScheduleD/ExpensesNotReportedAmt00
IRS990ScheduleD/ExpensesNotRptFinclStmtAmt00
IRS990ScheduleD/ExpensesSubtotalAmt0841718
IRS990ScheduleD/FootnoteTextInd0X
IRS990ScheduleD/NetUnrealizedGainsInvstAmt0541436
IRS990ScheduleD/OtherAssetsOrgGrp/BookValueAmt01057510
IRS990ScheduleD/OtherAssetsOrgGrp/Desc0DUE FROM MANHATTAN BEACH EDUCATION FOUNDATION
IRS990ScheduleD/OtherLandBuildingsGrp/BookValueAmt0422
IRS990ScheduleD/OtherLandBuildingsGrp/DepreciationAmt0996
IRS990ScheduleD/OtherLandBuildingsGrp/OtherCostOrOtherBasisAmt01418
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt065000
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc0DUE TO MANHATTAN BEACH EDUCATION FOUNDATION
IRS990ScheduleD/PrmnntEndowmentBalanceEOYPct00.28730
IRS990ScheduleD/RevenueNotReportedAmt0541436
IRS990ScheduleD/RevenueNotReportedFinclStmtAmt00
IRS990ScheduleD/RevenueSubtotalAmt01813989
IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt0PER 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 2017-18 THE FUND MARKET VALUE AT 12/31/17 WAS AROUND $17.7 MILLION SO 5% WAS THE DISBURSEMENT RATE. THE BOARD APPROVED $760,000 (5% OF THE THREE-YEAR AVERAGE YEAR END MARKET VALUE OF THE ENDOWMENT)
IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt1MBEF-EF 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. MBEF-EF 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.
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc0PART V, LINE 4:
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc1PART X, LINE 2:
IRS990ScheduleD/TermEndowmentBalanceEOYPct00.05480
IRS990ScheduleD/TotalBookValueLandBuildingsAmt0422
IRS990ScheduleD/TotalBookValueOtherAssetsAmt01057510
IRS990ScheduleD/TotalExpensesPerForm990Amt0841718
IRS990ScheduleD/TotalLiabilityAmt065000
IRS990ScheduleD/TotalRevenuePerForm990Amt01813989
IRS990ScheduleD/TotalRevEtcAuditedFinclStmtAmt02355425
IRS990ScheduleD/TotExpnsEtcAuditedFinclStmtAmt0841718
IRS990ScheduleI/GrantRecordsMaintainedInd01
IRS990ScheduleI/RecipientTable/CashGrantAmt0764500
IRS990ScheduleI/RecipientTable/IRCSectionDesc0501(C)(3)
IRS990ScheduleI/RecipientTable/PurposeOfGrantTxt0K-12 EDUCATIONAL SUPPORT
IRS990ScheduleI/RecipientTable/RecipientBusinessName/BusinessNameLine1Txt0MANHATTAN BEACH EDUCATION FOUNDATION
IRS990ScheduleI/RecipientTable/RecipientEIN0953881166
IRS990ScheduleI/RecipientTable/USAddress/AddressLine1Txt0325 PECK AVE
IRS990ScheduleI/RecipientTable/USAddress/CityNm0MANHATTAN BEACH
IRS990ScheduleI/RecipientTable/USAddress/StateAbbreviationCd0CA
IRS990ScheduleI/RecipientTable/USAddress/ZIPCd090266
IRS990ScheduleI/SupplementalInformationDetail/ExplanationTxt0PER 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 2017-18 THE FUND MARKET VALUE AT 12/31/17 WAS AROUND $17.7 MILLION SO 5% WAS THE DISBURSEMENT RATE. THE BOARD APPROVED $760,000 (5% OF THE THREE-YEAR AVERAGE YEAR END MARKET VALUE OF THE ENDOWMENT)
IRS990ScheduleI/SupplementalInformationDetail/FormAndLineReferenceDesc0PART I, LINE 2:
IRS990ScheduleI/Total501c3OrgCnt01
IRS990/ScheduleJRequiredInd00
IRS990ScheduleM/AnyPropertyThatMustBeHeldInd00
IRS990ScheduleM/ReviewProcessUnusualNCGiftsInd01
IRS990ScheduleM/SecuritiesPubliclyTradedGrp/ContributionCnt01
IRS990ScheduleM/SecuritiesPubliclyTradedGrp/MethodOfDeterminingRevenuesTxt0FMV
IRS990ScheduleM/SecuritiesPubliclyTradedGrp/NonCashCheckboxInd0X
IRS990ScheduleM/SecuritiesPubliclyTradedGrp/NoncashContributionsRptF990Amt050498
IRS990ScheduleM/SupplementalInformationDetail/ExplanationTxt0PART I, COLUMN (B) INDICATES THE NUMBER OF CONTRIBUTIONS.
IRS990ScheduleM/SupplementalInformationDetail/FormAndLineReferenceDesc0PART I, COLUMN (B):
IRS990ScheduleM/ThirdPartiesUsedInd00
IRS990/ScheduleORequiredInd01
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0THE FORM 990 IS REVIEWED BY THE BOARD OF DIRECTORS AND SIGNED BY THE PRESIDENT ONCE APPROVED.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1EMPLOYEES, 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.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2EMPLOYEES 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.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3THE ORGANIZATION MAKES GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICY, AND FINANCIAL STATEMENTS AVAILABLE UPON REQUEST.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt4THE ORGANIZATION MAKES ITS FORM 1023 AND FORM 990 AVAILABLE UPON REQUEST.
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0FORM 990, PART VI, SECTION B, LINE 11B
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1FORM 990, PART VI, SECTION B, LINE 12C
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2FORM 990, PART VI, SECTION B, LINE 15A
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3FORM 990, PART VI, SECTION C, LINE 19
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc4FORM 990, PART VI, SECTION C, LINE 18
IRS990ScheduleR/AssetExchangeInd00
IRS990ScheduleR/AssetPurchaseFromOtherOrgInd00
IRS990ScheduleR/AssetSaleToOtherOrgInd00
IRS990ScheduleR/DivRelatedOrganizationInd00
IRS990ScheduleR/GiftGrntCapContriFromOthOrgInd01
IRS990ScheduleR/GiftGrntOrCapContriToOthOrgInd01
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/ControlledOrganizationInd00
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/DisregardedEntityName/BusinessNameLine1Txt0MANHATTAN BEACH EDUCATION FOUNDATION
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/EIN0953881166
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/ExemptCodeSectionTxt0501(C)(3)
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/LegalDomicileStateCd0CA
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/PrimaryActivitiesTxt0PUBLIC CHARITY
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/PublicCharityStatusTxt0LINE 7
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/USAddress/AddressLine1Txt0325 S PECK AVE
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/USAddress/CityNm0MANHATTAN BEACH
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/USAddress/StateAbbreviationCd0CA
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/USAddress/ZIPCd090266
IRS990ScheduleR/LoansOrGuaranteesFromOthOrgInd00
IRS990ScheduleR/LoansOrGuaranteesToOtherOrgInd00
IRS990ScheduleR/PaidEmployeesSharingInd01
IRS990ScheduleR/PerformOfServicesByOtherOrgInd01
IRS990ScheduleR/PerformOfServicesForOthOrgInd00
IRS990ScheduleR/ReceiptOfIntAnntsRntsRyltsInd00
IRS990ScheduleR/ReimbursementPaidByOtherOrgInd00
IRS990ScheduleR/ReimbursementPaidToOtherOrgInd01
IRS990ScheduleR/RentalOfFacilitiesToOthOrgInd00
IRS990ScheduleR/RentalOfFcltsFromOthOrgInd00
IRS990ScheduleR/SharingOfFacilitiesInd01
IRS990ScheduleR/TransferFromOtherOrgInd00
IRS990ScheduleR/TransferToOtherOrgInd00
IRS990/SchoolOperatingInd00
IRS990/SignificantChangeInd00
IRS990/SignificantNewProgramSrvcInd00
IRS990/StatesWhereCopyOfReturnIsFldCd0CA
IRS990/SubjectToProxyTaxInd00

Document Assets

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Filings

Displayed year

2018 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$18,563,560
Liabilities
$68,000
Net assets
$18,495,560
Revenue
$1,813,989
Expenses
$841,718
Net income
$972,271
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Facts available. Structured filing facts are available, but richer extracted sections are limited.$26.6$0.07$26.5$3.20$1.28$1.92
2023Summary only. Only limited summary data is available for this year.$23.6$0.07$23.6$1.99$1.27$0.72
2022XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$21.8$0.07$21.7$1.90$1.25$0.65
2021XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$24.5$0.07$24.4$1.76$1.07$0.69
2020Facts available. Structured filing facts are available, but richer extracted sections are limited.$19.2$0.12$19.1$1.38$1.06$0.32
2019XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$19.6$0.07$19.5$1.59$0.97$0.63
2018Detailed filing. Detailed filing data is available for this year.$18.6$0.07$18.5$1.81$0.84$0.97
2017XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$17.0$0.07$17.0$2.18$0.59$1.60
2016XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$14.4$0.07$14.3$1.84$0.38$1.46
2015Detailed filing. Detailed filing data is available for this year.$13.8$0.08$13.8$0.89$0.35$0.54
2014Detailed filing. Detailed filing data is available for this year.$13.3$0.02$13.3$12.0$0.26$11.7
2013Facts available. Structured filing facts are available, but richer extracted sections are limited.$0.09$0.09$0.13$0.04$0.09
2012Summary only. Only limited summary data is available for this year.$0.00$0.00$0.00$0.00$0.00