Civic Intelligence

Community Foundation for San Benito County

EIN 77-0312582 • 501(c)3 • Hollister, CA

Profile

The community foundation for san benito county is dedicated to building a stronger community and enhancing the quality of life in san benito county through the support of philanthropic activities.

440 San Benito StreetHollister, CA 95023

www.cffsbc.org

Siviq Scores

Precomputed percentiles relative to similar nonprofits. These scores are descriptive rather than judgmental.

Liabilities / Assets

20th percentile

0.03x

Higher debt load relative to assets than 20% of similar nonprofits.

501(c)3 • $25M-$50M nonprofits • Source year 2024

Liabilities / Revenue

37th percentile

0.17x

Higher debt load relative to revenue than 37% of similar nonprofits.

501(c)3 • $25M-$50M nonprofits • Source year 2024

Net Margin

3rd percentile

-89%

Higher net margin than 3% of similar nonprofits.

501(c)3 • $25M-$50M nonprofits • Source year 2024

Top Officer Pay

37th percentile

$213,078

Higher top officer pay than 37% of similar nonprofits.

Top officer pay equals 4.9% of source-year revenue.

501(c)3 • $25M-$50M nonprofits • Source year 2024

Asset Growth

16th percentile

-4.5%

Faster asset growth than 16% of similar nonprofits.

501(c)3 • $25M-$50M nonprofits • Annualized from 2023 to 2024

Revenue Growth

2nd percentile

-64%

Faster revenue growth than 2% of similar nonprofits.

501(c)3 • $25M-$50M nonprofits • Annualized from 2023 to 2024

Assets

Down

$28,769,994

Down $1,340,964 (-4.5%) from 2023

Liabilities

Down

$730,379

Down $689,316 (-49%) from 2023

Net Assets

Down

$28,039,615

Down $651,648 (-2.3%) from 2023

Revenue

Down

$4,383,474

Down $7,897,865 (-64%) from 2023

Expenses

Down

$8,276,240

Down $11,192,785 (-57%) from 2023

Net Income

Up

-$3,892,766

Up $3,294,920 (+46%) from 2023

Trend Graphs

Balance Sheet Trend

Grouped bars show assets, liabilities, and net assets across loaded filings.

$40M$30M$20M$10M$0Assets 2010: $6,751,986Liabilities 2010: $13,584Net Assets 2010: $6,738,4022010Assets 2011: $5,007,728Liabilities 2011: $144,156Net Assets 2011: $4,863,5722011Assets 2012: $5,788,631Liabilities 2012: $286,956Net Assets 2012: $5,501,6752012Assets 2014: $8,583,620Liabilities 2014: $229,543Net Assets 2014: $8,354,0772014Assets 2015: $9,429,064Liabilities 2015: $374,045Net Assets 2015: $9,055,0192015Assets 2016: $9,251,183Liabilities 2016: $778,271Net Assets 2016: $8,472,9122016Assets 2017: $10,626,002Liabilities 2017: $626,249Net Assets 2017: $9,999,7532017Assets 2018: $16,511,562Liabilities 2018: $807,701Net Assets 2018: $15,703,8612018Assets 2019: $12,565,389Liabilities 2019: $540,536Net Assets 2019: $12,024,8532019Assets 2020: $19,603,133Liabilities 2020: $552,132Net Assets 2020: $19,051,0012020Assets 2021: $31,134,359Liabilities 2021: $629,283Net Assets 2021: $30,505,0762021Assets 2022: $35,557,098Liabilities 2022: $574,231Net Assets 2022: $34,982,8672022Assets 2023: $30,110,958Liabilities 2023: $1,419,695Net Assets 2023: $28,691,2632023Assets 2024: $28,769,994Liabilities 2024: $730,379Net Assets 2024: $28,039,6152024

Highlighted filing

2024

Assets$28,769,994
Liabilities$730,379
Net Assets$28,039,615

Operations Trend

Revenue, expenses, and net income by year, with the latest filing highlighted.

$20M$10M$0-$10MRevenue 2010: $1,374,451Expenses 2010: $1,149,116Net Income 2010: $225,3352010Expenses 2011: $2,256,9032011Expenses 2012: $1,370,7612012Revenue 2014: $2,121,589Expenses 2014: $1,904,916Net Income 2014: $216,6732014Revenue 2015: $3,904,169Expenses 2015: $2,038,507Net Income 2015: $1,865,6622015Revenue 2016: $1,139,185Expenses 2016: $1,574,134Net Income 2016: -$434,9492016Revenue 2017: $6,449,295Expenses 2017: $5,922,018Net Income 2017: $527,2772017Revenue 2018: $8,649,552Expenses 2018: $2,627,637Net Income 2018: $6,021,9152018Revenue 2019: $4,296,481Expenses 2019: $8,713,095Net Income 2019: -$4,416,6142019Revenue 2020: $14,221,099Expenses 2020: $7,575,260Net Income 2020: $6,645,8392020Revenue 2021: $12,270,201Expenses 2021: $2,725,466Net Income 2021: $9,544,7352021Revenue 2022: $13,594,682Expenses 2022: $6,134,107Net Income 2022: $7,460,5752022Revenue 2023: $12,281,339Expenses 2023: $19,469,025Net Income 2023: -$7,187,6862023Revenue 2024: $4,383,474Expenses 2024: $8,276,240Net Income 2024: -$3,892,7662024

Highlighted filing

2024

Revenue$4,383,474
Expenses$8,276,240
Net Income-$3,892,766

Filings

Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Facts available. Structured filing facts are available, but richer extracted sections are limited.$28.8$0.73$28.0$4.38$8.28$3.89
2023Detailed filing. Detailed filing data is available for this year.$30.1$1.42$28.7$12.3$19.5$7.19
2022Detailed filing. Detailed filing data is available for this year.$35.6$0.57$35.0$13.6$6.13$7.46
2021Detailed filing. Detailed filing data is available for this year.$31.1$0.63$30.5$12.3$2.73$9.54
2020Detailed filing. Detailed filing data is available for this year.$19.6$0.55$19.1$14.2$7.58$6.65
2019Detailed filing. Detailed filing data is available for this year.$12.6$0.54$12.0$4.30$8.71$4.42
2018Detailed filing. Detailed filing data is available for this year.$16.5$0.81$15.7$8.65$2.63$6.02
2017Detailed filing. Detailed filing data is available for this year.$10.6$0.63$10.00$6.45$5.92$0.53
2016Summary only. Only limited summary data is available for this year.$9.25$0.78$8.47$1.14$1.57$0.43
2015Detailed filing. Detailed filing data is available for this year.$9.43$0.37$9.06$3.90$2.04$1.87
2014Detailed filing. Detailed filing data is available for this year.$8.58$0.23$8.35$2.12$1.90$0.22
2012Facts available. Structured filing facts are available, but richer extracted sections are limited.$5.79$0.29$5.50$1.37
2011Facts available. Structured filing facts are available, but richer extracted sections are limited.$5.01$0.14$4.86$2.26
2010Summary only. Only limited summary data is available for this year.$6.75$0.01$6.74$1.37$1.15$0.23
Latest Filing Detail
Jump To
Filing Snapshot
Filing Period
Nov 1, 2023 to Oct 31, 2024
Signed
Sep 15, 2025
Return Version
2023v6.0
Gross Receipts
$4,432,321
Mission and Program Overview

Mission

The community foundation for san benito county is dedicated to building a stronger community and enhancing the quality of life in san benito county through the support of philanthropic activities.

To build a permanent endowment to provide grants and assistance to develop and strengthen local non-profit organizations in san benito county

Balance Sheet Detail
LineBeginningEndChange
Assets
Investments Other Securities$15,910,157$20,680,725▲ $4,770,568
Land, Buildings, and Equipment, Net$6,291,972$6,014,002▼ $277,970
Cash and Non-Interest-Bearing Accounts$6,778,429$1,835,267▼ $4,943,162
Total Assets$30,110,958$28,769,994▼ $1,340,964
Other Assets Total$1,130,400$240,000▼ $890,400
Liabilities
Other Liabilities$548,292$657,461▲ $109,169
Grants Payable$848,984$52,500▼ $796,484
Accounts Payable and Accrued Expenses$22,419$20,418▼ $2,001
Total Liabilities$1,419,695$730,379▼ $689,316
Net Assets / Fund Balance
Net Assets With Donor Restrictions$11,771,544$14,535,060▲ $2,763,516
Net Assets Without Donor Restrictions$16,919,719$13,504,555▼ $3,415,164
Total Net Assets Fund Balance$28,691,263$28,039,615▼ $651,648
Total Liabilities and Net Assets / Fund Balance$30,110,958$28,769,994▼ $1,340,964

Asset Categories

AssetBook ValueDepreciationBasis
Buildings$5,198,638$559,241$5,757,879
Equipment$656,072$232,094$888,166
Land$143,354-$143,354
Leasehold Improvements$15,938$5,795$21,733
Other Securities$548,927--

Endowment Activity

PeriodBeginningContrib.Gain/LossOther UsesEnd
2023$12,454,482$909,531▲ $2,435,758$-9,965$15,347,693
2022$7,686,084$4,646,630▲ $440,465$-3,229$12,454,482
2021$9,139,850$620,673▼ $1,684,710$-12,998$7,686,084
2020$7,479,566$169,943▲ $1,843,311$-145,998$9,139,850
2019$6,760,137$612,595▲ $368,536$-1,913$7,479,566
Compensation and Service Providers

Employees

NameTitleFull / Part TimeBaseOtherTotal
Gary ByrnePresident/CEOFT$168,875$44,203$213,078

Board Members and Trustees

NameTitle
Chang SoChair
Fernando GonzalezPast Chair
Brent RedmondVice Chair
Rebecca Medeiros WolfVice Chair
Allison RohnertDirector
Beverley MeamberDirector
Bill TiffanyDirector
Damon FeliceDirector
Dohn LarsonDirector
Gerry WrightDirector
Jose ZepedaDirector
Larry BarrDirector
Margie BarriosDirector
Mickie Solorio LunaDirector
Phil FortinoDirector
Vince BrigantinoDirector
Mike GraceCFO/treasurer
Alan ClarkSecretary

Highest Paid Contractors

ContractorServicesLocationCompensation
Giano Del Curto Bylt Construction CompaConstruction ServicePO BOX 637, Hollister, CA 95024$151,045
Revenue and Support

Revenue Composition

Contributions and Grants
$3,898,451
Program Service Revenue
$0
Investment Income
$485,023
Other Revenue
$0
All Other Contributions
$3,898,451
Change in Net Assets
$-3,892,766

Noncash Contribution Practices

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

Noncash Contributions

Contribution TypeContribution CountReported AmountValuation Method
Securities Publicly Traded20$849,979Selling Price Per Broker
Total Noncash Contributions20$849,979-

Audited Revenue Reconciliation

Revenue per Audited Statements
$3,236,017
Revenue Not Reported on Financial Statements
$1,147,457
Revenue Not Reported on Form 990
$3,662,548
Other Revenue Adjustments
$1,147,457
Total Revenue per Audited Statements
$6,898,565
Total Revenue per Form 990
$4,383,474
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Grants and Similar Amounts Paid$6,727,189
Other Expenses$826,171
Salaries, Compensation, and Employee Benefits$722,880
Total Fundraising Expense$80,332
Professional Fundraising Fees$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Grants to Domestic Orgs$6,727,189--$6,727,189
Other Salaries and Wages$242,025$142,458$47,112$431,595
Depreciation Depletion-$301,608-$301,608
Fees for Services Other$127,415$45,742-$173,157
Current Officers, Directors, Trustees, and Key Employees$94,700$55,741$18,434$168,875
Office Expenses-$83,990-$83,990
Other Employee Benefits$46,141$27,160$8,982$82,283
Payroll Taxes$22,502$13,245$4,380$40,127
Fees for Services Accounting-$33,892-$33,892
Advertising$21,833--$21,833
Insurance-$15,350-$15,350
Fees for Services Legal-$14,551-$14,551
Other Expenses$147,759$598$1,424$598
Total Functional Expenses$7,429,564$766,344$80,332$8,276,240

Audited Expense Reconciliation

Line ItemAmount
Total Expenses per Form 990$8,276,240
Expenses per Audited Statements$8,255,801
Total Expenses per Audited Statements$7,550,192
Expenses Not Reported on Financial Statements$20,439
Other Expense Adjustments$20,439
Expenses Not Reported on Form 990$-705,609
International Activity

Grant and Assistance Recipients

RecipientLocationCategoryPurposeAmount
San Benito County Heritage FoundationTres Pinos, CA501(c)(3)Standard$1,392,651
Ecdysis FoundationEstelline, SD501(c)(3)Standard$250,000
Carbon Cycle InstitutePetaluma, CA501(c)(3)Standard$205,000
Paicines Ranch Learning CenterPaicines, CA501(c)(3)Standard$200,000
Earth Island InstituteBerkeley, CA501(c)(3)Standard$175,000
WOMEN'S FOOD AND AGRICULTURE NETWORKAmes, IA501(c)(3)Standard$175,000
Pie RanchPescadero, CA501(c)(3)Standard$150,000
Possibility LabsSan Francisco, CA501(c)(3)Standard$119,000
United for San BenitoHollister, CA501(c)(3)Solicited$111,500
Community Alliance With Family FarmersDavis, CA501(c)(3)Standard$100,000
Esperanza Community FarmsWatsonville, CA501(c)(3)Standard$100,000
Higher Purpose CoClarksdale, MS501(c)(3)Standard$100,000
Infact Dba Corporate AccountabilityBoston, MA501(c)(3)Standard$100,000
Intertribal Agriculture CouncilBillings, MT501(c)(3)Standard$100,000
Pet Friends and RescueHollister, CA501(c)(3)Standard$97,300
San Benito County Historical SocietyHollister, CA501(c)(3)Standard$96,475
Community Services UnlimitedLos Angeles, CA501(c)(3)Standard$95,700
San Benito Resource Conservation DistrictHollister, CA501(c)(3)Standard$81,500
WOLFE'S NECK FARM FOUNDATION INCFreeport, ME501(c)(3)Standard$80,000
California FarmlinkAptos, CA501(c)(3)Standard$78,750
Community Water CenterVisalia, CA501(c)(3)Standard$75,000
Hawaii Investment ReadyKaneohe, HI501(c)(3)Standard$75,000
Meridian InstituteDillon, CO501(c)(3)Standard$75,000
National Young Farmers CoalitionAlbany, NY501(c)(3)Standard$75,000
Sonoma State University Co Advancement ServicesRohnert Park, CA501(c)(3)Standard$75,000
BenitolinkHollister, CA501(c)(3)Solicited$63,700
Inquiring Systems IncSanta Rosa, CA501(c)(3)Standard$60,000
Land Stewardship ProjectMinneapolis, MN501(c)(3)Standard$60,000
Leadership Counsel for Justice and AccountabilityFresno, CA501(c)(3)Standard$60,000
Civil EatsCotati, CA501(c)(3)Standard$52,500
Holistic Management InternationalAlbuquerque, NM501(c)(3)Standard$52,500
Quivira CoalitionSanta Fe, NM501(c)(3)Standard$52,500
Agriculture and Land-based Training Association (alba)Salinas, CA501(c)(3)Standard$50,000
California State University Fresno FoundationFresno, CA501(c)(3)Standard$50,000
Climate Change Leadership InstituteSanta Fe, NM501(c)(3)Standard$50,000
Food System 6Redwood City, CA501(c)(3)Standard$50,000
Greater Kansas City Community FoundationKansas City, MO501(c)(3)Standard$50,000
Hillbrook SchoolLos Gatos, CA501(c)(3)Standard$50,000
Ojai Valley Fire Safe CouncilOjai, CA501(c)(3)Standard$50,000
Oregon State University FoundationCorvallis, OR501(c)(3)Standard$50,000
Sustainable ConservationSan Francisco, CA501(c)(3)Standard$50,000
Sustainable Economies Law CenterOakland, CA501(c)(3)Standard$50,000
Cooperacion Santa AnaSanta Ana, CA501(c)(3)Standard$40,000
Emmaus HouseHollister, CA501(c)(3)Solicited$39,068
Potlikker CapitalBurlington, NJ501(c)(3)Standard$37,500
Cascade Pacific Rc&dCorvallis, OR501(c)(3)Standard$35,000
Farm and Ranch Freedom AllianceCameron, TX501(c)(3)Standard$35,000
FibershedSan Geronimo, CA501(c)(3)Standard$30,000
Land CoreGrass Valley, CA501(c)(3)Standard$30,000
Reunity ResourcesSanta Fe, NM501(c)(3)Standard$30,000
Uc Santa Cruz FoundationSanta Cruz, CA501(c)(3)Standard$30,000
Doctors Without Borders InternationalHagerstown, MD501(c)(3)Standard$26,000
Cruces CreativesLas Cruces, NM501(c)(3)Standard$25,000
Roots of ResilienceWalla Walla, WA501(c)(3)Standard$25,000
San Benito County Chamber of Commerce FoundationHollister, CA501(c)(3)Standard$25,000
San Diego Food System AllianceSan Diego, CA501(c)(3)Standard$25,000
The Regents of the University of California AnrDavis, CA501(c)(3)Standard$25,000
The Southwest Grassfed Livestock AllianceSanta Fe, NM501(c)(3)Standard$25,000
WozuCannonball, ND501(c)(3)Standard$25,000
Zero FoodprintSan Francisco, CA501(c)(3)Standard$25,000
Rotary Club of HollisterHollister, CA501(c)(3)Standard$24,949
Community Food Bank of San Benito CountyHollister, CA501(c)(3)Standard$24,914
Hazel Hawkins Hospital FoundationHollister, CA501(c)(3)Standard$21,520
Coopers CallingTres Pinos, CA501(c)(3)Solicited$21,500
Casa of San Benito CountyHollister, CA501(c)(3)Standard$21,181
Sun Street CentersHollister, CA501(c)(3)Solicited$21,069
Uc DavisWest Sacramento, CA501(c)(3)Scholarship$18,500
Bulldog BoxingHollister, CA501(c)(3)Solicited$18,000
Youth AllianceHollister, CA501(c)(3)Solicited$16,000
World Central Kitchen IncWashington, DC501(c)(3)Standard$15,600
Croatan InstituteDurham, NC501(c)(3)Standard$15,000
Turning GreenSausalito, CA501(c)(3)Standard$15,000
Girls IncorporatedSalinas, CA501(c)(3)Solicited$14,300
The Salvation Army Hollister Corps Community CenterHollister, CA501(c)(3)Solicited$14,000
Jmm Dance CompanyHollister, CA501(c)(3)Solicited$12,500
University of California BerkeleyBerkeley, CA501(c)(3)Scholarship$12,500
Gabilan Chapter Seneca Family of AgenciesHollister, CA501(c)(3)Standard$11,975
Savory InstituteBoulder, CO501(c)(3)Standard$11,760
Regenerative Agriculture FoundationMinneapolis, MN501(c)(3)Standard$11,000
Visit San Benito CountyTres Pinos, CA501(c)(3)Standard$11,000
Ymca San Benito CountyHollister, CA501(c)(3)Solicited$11,000
Alzheimer AssociationMonterey, CA501(c)(3)Solicited$10,000
Center for Farmworker FamiliesFelton, CA501(c)(3)Standard$10,000
JACOB'S HEART CHILDREN'S CANCER SUPPORT SERVICESWatsonville, CA501(c)(3)Solicited$10,000
Latino Center of Art & CultureSacramento, CA501(c)(3)Standard$10,000
MARTHA'S KITCHENSan Jose, CA501(c)(3)Solicited$10,000
Mary Velasco Sellen Senior CenterSan Juan Bautista, CA501(c)(3)Solicited$10,000
Mission San Juan Bautista Preservation FundSan Juan Bautista, CA501(c)(3)Solicited$10,000
Partnership for ChildrenSalinas, CA501(c)(3)Solicited$10,000
Hollister United Methodist Church & PreschoolHollister, CA501(c)(3)Solicited$9,900
San Benito County Arts CouncilHollister, CA501(c)(3)Standard$9,700
Sacred Heart Parish SchoolHollister, CA501(c)(3)Scholarship$9,500
Sacred Heart School FoundationHollister, CA501(c)(3)Standard$9,000
Senior Legal ServicesSanta Cruz, CA501(c)(3)Solicited$9,000
San Benito Stage CompanyHollister, CA501(c)(3)Standard$8,178
Cat Crew CaliforniaHollister, CA501(c)(3)Solicited$8,000
Jovenes De AntanoHollister, CA501(c)(3)Solicited$8,000
Latino Coalition of San Benito CountyHollister, CA501(c)(3)Solicited$8,000
WOMEN'S CLUB OF HOLLISTERHollister, CA501(c)(3)Solicited$7,600
Breast Cancer Assistance Group of Monterey CountyCarmel, CA501(c)(3)Solicited$7,500
QUEEN'S BEST STUMPY DOG RESCUENorth Hollywood, CA501(c)(3)Standard$7,500
Threshold FoundationBrewster, NY501(c)(3)Standard$7,500
E-cubed FoundationHollister, CA501(c)(3)Standard$7,283
Community Homeless SolutionsMarina, CA501(c)(3)Standard$7,000
Easterseals Central CaliforniaFresno, CA501(c)(3)Solicited$7,000
Hollister Razorback WrestlingHollister, CA501(c)(3)Solicited$7,000
California Association of Student CouncilsPortola, CA501(c)(3)Solicited$6,000
Community Services Development CorporationHollister, CA501(c)(3)Standard$6,000
Hollister Community OutreachHollister, CA501(c)(3)Standard$6,000
San Jose State UniversitySan Jose, CA501(c)(3)Scholarship$6,000
California State University Monterey BaySeaside, CA501(c)(3)Scholarship$5,500
Gavilan Joint Community CollegeGilroy, CA501(c)(3)Scholarship$5,500
VETERANS OF FOREIGN WARS #9242Hollister, CA501(c)(3)Standard$5,500
Wildflower FoundationHollister, CA501(c)(3)Solicited$5,500
Girl Scouts of California Central CoastVentura, CA501(c)(3)Standard$5,195
American Red Cross Northern California RegionCarmelbythesea, CA501(c)(3)Standard$5,120
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
Funds Held for Others$657,461
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 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
No
Key decisions subject to board approval
No
Management duties delegated
No

Governance Explanations

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

The foundation's bookkeeper, executive director, finance committee, audit committee and board of directors review the tax return prior to filing.

Form 990, Part VI, Section B, Line 12C

Officers, board members, and key employees review any conflicts of interest on an annual basis, documenting any key components.

Form 990, Part VI, Section B, Line 15

The full board periodically conducts a formal review process for the executive director and also reviews salary and agrees on any salary adjustments.

Form 990, Part VI, Section C, Line 19

A public disclosure copy of the organization's bylaws, policies, and audited financial statements are available upon request.

Filing and Contact Details

Filer

Filer Name
Community Foundation for
EIN
77-0312582
Phone
8316301924
Address
440 SAN BENITO STREET, HOLLISTER, CA 95023

Signing Officer

Name
Chang So
Title
Board Chairman
Phone
8316301924
Signed
2025-09-15
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Chang So
Formed
1992
Legal Domicile
CA
Voting Board Members
18
Independent Board Members
18
Employees
8
Volunteers
87

Preparer

Firm
Novogradac & Company Llp
Address
1435 N MCDOWELL BLVD SUITE 350, PETALUMA, CA 94954
Preparer
Lance Smith
Phone
4152236130
Supplemental Narrative

Additional Explanations

FORM 990, PART XI, LINE 9:

Accrual to cash - grants payable -52,500. Funds held for others investment activity accrual to cash -15,470. Funds held for others costs accrual to cash -284,021. Accrual to cash- py accounts payable 20,418. Trust receivable to cash 240,000.

FORM 990, PART XII, LINE 2C:

The audit committee assumes the responsibility for the oversight of the audit of its financial statements and the selection of the independent accountant.

Financial Statement Notes

PART X, LINE 2:

The foundation is a not-for-profit corporation under section 501(c)(3) of the internal revenue code and section 23701(d) of the california revenue and taxation code and therefore, is generally exempt from both federal and state income taxes, except on net income derived from unrelated business activities. The preparation of financial statements in accordance with accounting principles generally accepted in the united states of america requires the foundation to report information regarding its exposure to various tax positions taken. Management has determined whether any tax positions have met the recognition threshold and has measured its exposure to those tax positions. Management believes that the foundation has adequately addressed all relevant tax positions and that there are no unrecorded tax liabilities. Federal tax authorities generally have the right to examine and audit the previous three years of tax returns filed. California tax authorities generally have the right to examine and audit the previous four years of tax returns filed. Any interest or penalties assessed to the foundation are recorded in operating expenses. No interest or penalties from federal or state tax authorities were recorded in the accompanying financial statements.

PART XI, LINE 2D - OTHER ADJUSTMENTS:

Rent sublease revenue 89,857. Trust receivable accrual to cash 240,000.

PART XI, LINE 4B - OTHER ADJUSTMENTS:

Funds held for others costs accrual to cash 1,147,457.

PART XII, LINE 2D - OTHER ADJUSTMENTS:

Accrual to cash- py grants payable -813,884. Accrual to cash- py accounts payable 20,418. Miscellaneous expense 87,857.

PART XII, LINE 4B - OTHER ADJUSTMENTS:

Funds held for others 20,439.

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