Civic Intelligence

Manhattan Beach Education Foundation Endowment Fund

990 • Fiscal year 2021 • EIN 45-3552314

Jul 01, 2020 to Jun 30, 2021 • Filed on May 04, 2022

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

10th percentile

0.00x

Higher debt load relative to assets than 10% of similar nonprofits.

2021 filings • 501(c)3 • $10M-$25M nonprofits • Source year 2021

Liabilities / Revenue

16th percentile

0.04x

Higher debt load relative to revenue than 16% of similar nonprofits.

2021 filings • 501(c)3 • $10M-$25M nonprofits • Source year 2021

Net Margin

81st percentile

39%

Higher net margin than 81% of similar nonprofits.

2021 filings • 501(c)3 • $10M-$25M nonprofits • Source year 2021

Top Officer Pay

35th percentile

$132,192

Higher top officer pay than 35% of similar nonprofits.

Top officer pay equals 7.5% of source-year revenue.

2021 filings • 501(c)3 • $10M-$25M nonprofits • Source year 2021

Asset Growth

80th percentile

28%

Faster asset growth than 80% of similar nonprofits.

2021 filings • 501(c)3 • $10M-$25M nonprofits • Annualized from 2020 to 2021

Revenue Growth

68th percentile

28%

Faster revenue growth than 68% of similar nonprofits.

2021 filings • 501(c)3 • $10M-$25M nonprofits • Annualized from 2020 to 2021

Balance Sheet
Liabilities / Assets10th percentile

Assets

Up

$24,473,098

Up $5,284,460 (+28%) from 2020

Net Assets

Up

$24,408,098

Up $5,343,731 (+28%) from 2020

Liabilities

Down

$65,000

Down $59,271 (-48%) from 2020

Revenue And Expenses
Liabilities / Revenue16th percentileNet Margin81st percentile

Revenue

Up

$1,760,718

Up $380,771 (+28%) from 2020

Expenses

Up

$1,074,289

Up $15,658 (+1.5%) from 2020

Net Income

Up

$686,429

Up $365,113 (+114%) from 2020

Historical Trend

Balance Sheet Trend

Asset Growth80th 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

2021

Assets$24,473,098
Liabilities$65,000
Net Assets$24,408,098
Open 2021 Filing

Operations Trend

Revenue Growth68th 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

2021

Revenue$1,760,718
Expenses$1,074,289
Net Income$686,429
Open 2021 Filing
Jump To
Filing Snapshot
Filing Period
Jul 1, 2020 to Jun 30, 2021
Signed
May 4, 2022
Return Version
2020v4.2
Gross Receipts
$2,476,350
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.

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.

Balance Sheet Detail
LineBeginningEndChange
Assets
Investments in Publicly Traded Securities$18,779,984$23,896,815▲ $5,116,831
Cash and Non-Interest-Bearing Accounts$229,504$157,594▼ $71,910
Savings and Temporary Cash Investments$15,673$36,683▲ $21,010
Prepaid Expenses and Deferred Charges$8,960$7,517▼ $1,443
Land, Buildings, and Equipment, Net$17$0▼ $17
Total Assets$19,188,638$24,473,098▲ $5,284,460
Other Assets Total$154,500$374,489▲ $219,989
Liabilities
Other Liabilities$124,271$65,000▼ $59,271
Total Liabilities$124,271$65,000▼ $59,271
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$11,251,721$14,202,145▲ $2,950,424
Net Assets With Donor Restrictions$7,812,646$10,205,953▲ $2,393,307
Total Net Assets Fund Balance$19,064,367$24,408,098▲ $5,343,731
Total Liabilities and Net Assets / Fund Balance$19,188,638$24,473,098▲ $5,284,460

Asset Categories

AssetBook ValueDepreciationBasis
Equipment$0$5,696$5,696
Other Land Buildings$0$1,418$1,418

Endowment Activity

PeriodBeginningContrib.Gain/LossOther UsesEnd
2020$18,915,301$224,017▲ $5,835,564-$23,975,465
2019$19,329,812$151,084▲ $358,237-$18,915,301
2018$18,208,555$973,561▲ $971,696-$19,329,812
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
Compensation and Service Providers
Top Officer Pay35th percentile

Employees

NameTitleFull / Part TimeOtherTotal
Hilary MahanExecutive DirectorPT$132,192$132,192
David BrennanDirector of Development & PartnershipPT$115,631$115,631

Board Members and Trustees

NameTitle
Mike DuckworthPresident
Geoff BremerDirector
Rich WeissCIO
Mary WilsonSecretary
Mitchell OzawaTreasurer
Revenue and Support

Revenue Composition

Contributions and Grants
$551,180
Program Service Revenue
$0
Investment Income
$1,209,538
Other Revenue
$0
All Other Contributions
$224,016
Change in Net Assets
$686,429

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$25,413Fair Market Value (FMV)
Total Noncash Contributions1$25,413-

Audited Revenue Reconciliation

Revenue per Audited Statements
$1,760,718
Revenue Not Reported on Financial Statements
$0
Revenue Not Reported on Form 990
$4,657,302
Total Revenue per Audited Statements
$6,418,020
Total Revenue per Form 990
$1,760,718
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Grants and Similar Amounts Paid$999,417
Other Expenses$74,872
Total Fundraising Expense$47,949
Professional Fundraising Fees$0
Salaries, Compensation, and Employee Benefits$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Grants to Domestic Orgs$999,417--$999,417
Fees for Services Management-$19,500$45,500$65,000
Insurance-$3,405-$3,405
Fees for Services Accounting-$3,200$50$3,250
Other Expenses--$957$957
Office Expenses-$602-$602
Information Technology-$216-$216
Total Functional Expenses$999,417$26,923$47,949$1,074,289

Audited Expense Reconciliation

Line ItemAmount
Expenses per Audited Statements$1,074,289
Total Expenses per Audited Statements$1,074,289
Total Expenses per Form 990$1,074,289
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$999,417
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
Business relationship with 35% controlled entity
No
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
Yes
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

“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 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

“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.”

FORM 990, PART VI, SECTION C, LINE 18:

“Describe how the organization makes its forms 1023 (1024 or 1024-a), 990, and 990t available for public inspection: 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
2022-05-04
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 2020- the fund market value at 12/31/20 was around $22.4 million so 5% was the disbursement rate. The board approved $999,417 (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 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.”

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IRS990/OtherExpensesGrp/TotalAmt01442
IRS990/OtherExpensesGrp/TotalAmt1957
IRS990/OtherLiabilitiesGrp/BOYAmt0124271
IRS990/OtherLiabilitiesGrp/EOYAmt065000
IRS990/PartialLiquidationInd00
IRS990/PayPremiumsPrsnlBnftCntrctInd00
IRS990/PoliticalCampaignActyInd00
IRS990/PrepaidExpensesDefrdChargesGrp/BOYAmt08960
IRS990/PrepaidExpensesDefrdChargesGrp/EOYAmt07517
IRS990/PrincipalOfficerNm0MIKE DUCKWORTH
IRS990/ProfessionalFundraisingInd00
IRS990/ProhibitedTaxShelterTransInd00
IRS990/PYBenefitsPaidToMembersAmt00
IRS990/PYContributionsGrantsAmt0275278
IRS990/PYExcessBenefitTransInd00
IRS990/PYGrantsAndSimilarPaidAmt0983103
IRS990/PYInvestmentIncomeAmt01104669
IRS990/PYOtherExpensesAmt075528
IRS990/PYOtherRevenueAmt00
IRS990/PYProgramServiceRevenueAmt00
IRS990/PYRevenuesLessExpensesAmt0321316
IRS990/PYSalariesCompEmpBnftPaidAmt00
IRS990/PYTotalExpensesAmt01058631
IRS990/PYTotalProfFndrsngExpnsAmt00
IRS990/PYTotalRevenueAmt01379947
IRS990/QuidProQuoContributionsInd00
IRS990/RcvFndsToPayPrsnlBnftCntrctInd00
IRS990/ReconcilationRevenueExpnssAmt0686429
IRS990/RegularMonitoringEnfrcInd01
IRS990/RelatedEntityInd01
IRS990/RelatedOrganizationCtrlEntInd00
IRS990/RelatedOrganizationsAmt0327164
IRS990/ReportInvestmentsOtherSecInd00
IRS990/ReportLandBuildingEquipmentInd01
IRS990/ReportOtherAssetsInd00
IRS990/ReportOtherLiabilitiesInd01
IRS990/ReportProgramRelatedInvstInd00
IRS990/SavingsAndTempCashInvstGrp/BOYAmt015673
IRS990/SavingsAndTempCashInvstGrp/EOYAmt036683
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/CurrentTaxYearAmt0551180
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/CurrentTaxYearMinus1YearAmt0275278
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/CurrentTaxYearMinus2YearsAmt0973561
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/CurrentTaxYearMinus3YearsAmt01130312
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/CurrentTaxYearMinus4YearsAmt01622551
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/TotalAmt04552882
IRS990ScheduleA/GrossInvestmentIncome170Grp/CurrentTaxYearAmt0425170
IRS990ScheduleA/GrossInvestmentIncome170Grp/CurrentTaxYearMinus1YearAmt0430420
IRS990ScheduleA/GrossInvestmentIncome170Grp/CurrentTaxYearMinus2YearsAmt0447982
IRS990ScheduleA/GrossInvestmentIncome170Grp/CurrentTaxYearMinus3YearsAmt0391867
IRS990ScheduleA/GrossInvestmentIncome170Grp/CurrentTaxYearMinus4YearsAmt0340817
IRS990ScheduleA/GrossInvestmentIncome170Grp/TotalAmt02036256
IRS990ScheduleA/PublicOrganization170Ind0X
IRS990ScheduleA/PublicSupportCY170Pct00.67380
IRS990ScheduleA/PublicSupportPY170Pct00.71340
IRS990ScheduleA/PublicSupportTotal170Amt04439633
IRS990ScheduleA/SubstantialContributorsTotAmt0113249
IRS990ScheduleA/ThirtyThrPctSuprtTestsCY170Ind0X
IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearAmt0551180
IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearMinus1YearAmt0275278
IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearMinus2YearsAmt0973561
IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearMinus3YearsAmt01130312
IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearMinus4YearsAmt01622551
IRS990ScheduleA/TotalCalendarYear170Grp/TotalAmt04552882
IRS990ScheduleA/TotalSupportAmt06589138
IRS990ScheduleB/ContributorInformationGrp/ContributorBusinessName/BusinessNameLine10RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorNum0RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/AddressLine10RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/AddressLine20RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/City0RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/State0RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/ZIPCode0RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/TotalContributionsAmt0RESTRICTED
IRS990/ScheduleBRequiredInd01
IRS990ScheduleD/BoardDesignatedBalanceEOYPct00.57620
IRS990ScheduleD/CYEndwmtFundGrp/BeginningYearBalanceAmt018915301
IRS990ScheduleD/CYEndwmtFundGrp/ContributionsAmt0224017
IRS990ScheduleD/CYEndwmtFundGrp/EndYearBalanceAmt023975465
IRS990ScheduleD/CYEndwmtFundGrp/GrantsOrScholarshipsAmt0999417
IRS990ScheduleD/CYEndwmtFundGrp/InvestmentEarningsOrLossesAmt05835564
IRS990ScheduleD/CYMinus1YrEndwmtFundGrp/BeginningYearBalanceAmt019329812
IRS990ScheduleD/CYMinus1YrEndwmtFundGrp/ContributionsAmt0151084
IRS990ScheduleD/CYMinus1YrEndwmtFundGrp/EndYearBalanceAmt018915301
IRS990ScheduleD/CYMinus1YrEndwmtFundGrp/GrantsOrScholarshipsAmt0923832
IRS990ScheduleD/CYMinus1YrEndwmtFundGrp/InvestmentEarningsOrLossesAmt0358237
IRS990ScheduleD/CYMinus2YrEndwmtFundGrp/BeginningYearBalanceAmt018208555
IRS990ScheduleD/CYMinus2YrEndwmtFundGrp/ContributionsAmt0973561
IRS990ScheduleD/CYMinus2YrEndwmtFundGrp/EndYearBalanceAmt019329812
IRS990ScheduleD/CYMinus2YrEndwmtFundGrp/GrantsOrScholarshipsAmt0824000
IRS990ScheduleD/CYMinus2YrEndwmtFundGrp/InvestmentEarningsOrLossesAmt0971696
IRS990ScheduleD/CYMinus3YrEndwmtFundGrp/BeginningYearBalanceAmt016630063
IRS990ScheduleD/CYMinus3YrEndwmtFundGrp/ContributionsAmt01130312
IRS990ScheduleD/CYMinus3YrEndwmtFundGrp/EndYearBalanceAmt018208555
IRS990ScheduleD/CYMinus3YrEndwmtFundGrp/GrantsOrScholarshipsAmt0760000
IRS990ScheduleD/CYMinus3YrEndwmtFundGrp/InvestmentEarningsOrLossesAmt01208180
IRS990ScheduleD/CYMinus4YrEndwmtFundGrp/BeginningYearBalanceAmt013912696
IRS990ScheduleD/CYMinus4YrEndwmtFundGrp/ContributionsAmt01622551
IRS990ScheduleD/CYMinus4YrEndwmtFundGrp/EndYearBalanceAmt016630063
IRS990ScheduleD/CYMinus4YrEndwmtFundGrp/GrantsOrScholarshipsAmt0500000
IRS990ScheduleD/CYMinus4YrEndwmtFundGrp/InvestmentEarningsOrLossesAmt01594816
IRS990ScheduleD/EndowmentsHeldRelatedOrgInd00
IRS990ScheduleD/EndowmentsHeldUnrelatedOrgInd00
IRS990ScheduleD/EquipmentGrp/BookValueAmt00
IRS990ScheduleD/EquipmentGrp/DepreciationAmt05696
IRS990ScheduleD/EquipmentGrp/OtherCostOrOtherBasisAmt05696
IRS990ScheduleD/ExpensesNotReportedAmt00
IRS990ScheduleD/ExpensesNotRptFinclStmtAmt00
IRS990ScheduleD/ExpensesSubtotalAmt01074289
IRS990ScheduleD/FootnoteTextInd0X
IRS990ScheduleD/NetUnrealizedGainsInvstAmt04657302
IRS990ScheduleD/OtherLandBuildingsGrp/BookValueAmt00
IRS990ScheduleD/OtherLandBuildingsGrp/DepreciationAmt01418
IRS990ScheduleD/OtherLandBuildingsGrp/OtherCostOrOtherBasisAmt01418
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt065000
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc0DUE TO MANHATTAN BEACH EDUCATION FOUNDATION
IRS990ScheduleD/PrmnntEndowmentBalanceEOYPct00.27446
IRS990ScheduleD/RevenueNotReportedAmt04657302
IRS990ScheduleD/RevenueNotReportedFinclStmtAmt00
IRS990ScheduleD/RevenueSubtotalAmt01760718
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 2020- THE FUND MARKET VALUE AT 12/31/20 WAS AROUND $22.4 MILLION SO 5% WAS THE DISBURSEMENT RATE. THE BOARD APPROVED $999,417 (5% OF THE THREE-YEAR AVERAGE YEAR END MARKET VALUE OF THE ENDOWMENT).
IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt1FIN 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 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.
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc0PART V, LINE 4:
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc1PART X, LINE 2:
IRS990ScheduleD/TermEndowmentBalanceEOYPct00.14934
IRS990ScheduleD/TotalBookValueLandBuildingsAmt00
IRS990ScheduleD/TotalExpensesPerForm990Amt01074289
IRS990ScheduleD/TotalLiabilityAmt065000
IRS990ScheduleD/TotalRevenuePerForm990Amt01760718
IRS990ScheduleD/TotalRevEtcAuditedFinclStmtAmt06418020
IRS990ScheduleD/TotExpnsEtcAuditedFinclStmtAmt01074289
IRS990ScheduleI/GrantRecordsMaintainedInd01
IRS990ScheduleI/RecipientTable/CashGrantAmt0999417
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 2020- THE FUND MARKET VALUE AT 12/31/20 WAS AROUND $22.4 MILLION SO 5% WAS THE DISBURSEMENT RATE. THE BOARD APPROVED $999,417 (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/NoncashContributionsRptF990Amt025413
IRS990ScheduleM/SupplementalInformationDetail/ExplanationTxt0PART I, COLUMN (B) INDICATES THE NUMBER OF CONTRIBUTIONS.
IRS990ScheduleM/SupplementalInformationDetail/FormAndLineReferenceDesc0PART I, COLUMN (B):
IRS990ScheduleM/ThirdPartiesUsedInd00
IRS990/ScheduleORequiredInd01
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0DESCRIBE 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.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1DID 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.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2DID 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 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/ExplanationTxt3DESCRIBE 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.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt4DESCRIBE HOW THE ORGANIZATION MAKES ITS FORMS 1023 (1024 OR 1024-A), 990, AND 990T AVAILABLE FOR PUBLIC INSPECTION: THE 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 15
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/SubjectToExcsTaxNetInvstIncInd00
IRS990/SubjectToProxyTaxInd00

Document Assets

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Filings

Displayed year

2021 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$24,473,098
Liabilities
$65,000
Net assets
$24,408,098
Revenue
$1,760,718
Expenses
$1,074,289
Net income
$686,429
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
2021Detailed filing. Detailed filing data is available for this year.$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
2018Facts available. Structured filing facts are available, but richer extracted sections are limited.$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