Civic Intelligence

LL Foundation for Youth

990 • Fiscal year 2019 • EIN 82-5249343

Jan 01, 2019 to Dec 31, 2019 • Filed on Sep 24, 2020

Organization ProfileN/A
PO Box 56629Sherman Oaks, CA 91413

(818) 783-8492

Siviq Scores

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

Liabilities / Assets

2nd percentile

0.00x

Tied with the lowest-debt nonprofits in its peer group.

2019 filings • 501(c)3 • $50M-$100M nonprofits • Source year 2019

Liabilities / Revenue

2nd percentile

0.00x

Tied with the lowest-debt nonprofits in its peer group.

2019 filings • 501(c)3 • $50M-$100M nonprofits • Source year 2019

Net Margin

99th percentile

90%

Higher net margin than 99% of similar nonprofits.

2019 filings • 501(c)3 • $50M-$100M nonprofits • Source year 2019

Top Officer Pay

5th percentile

$0

Higher top officer pay than 5% of similar nonprofits.

Top officer pay equals 0.0% of source-year revenue.

2019 filings • 501(c)3 • $50M-$100M nonprofits • Source year 2019

Asset Growth

73rd percentile

12%

Faster asset growth than 73% of similar nonprofits.

2019 filings • 501(c)3 • $50M-$100M nonprofits • Annualized from 2018 to 2019

Revenue Growth

1st percentile

-93%

Faster revenue growth than 1% of similar nonprofits.

2019 filings • 501(c)3 • $50M-$100M nonprofits • Annualized from 2018 to 2019

Balance Sheet
Liabilities / Assets2nd percentile

Assets

Up

$55,920,164

Up $6,120,888 (+12%) from 2018

Net Assets

Up

$55,920,164

Up $6,120,888 (+12%) from 2018

Liabilities

Flat

$0

Flat from 2018

Revenue And Expenses
Liabilities / Revenue2nd percentileNet Margin99th percentile

Revenue

Down

$3,664,022

Down $45,991,403 (-93%) from 2018

Expenses

Up

$359,501

Up $358,001 (+23867%) from 2018

Net Income

Down

$3,304,521

Down $46,349,404 (-93%) from 2018

Historical Trend

Balance Sheet Trend

Asset Growth73rd percentile

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

$80M$60M$40M$20M$0Assets 2018: $49,799,276Liabilities 2018: $0Net Assets 2018: $49,799,2762018Assets 2019: $55,920,164Liabilities 2019: $0Net Assets 2019: $55,920,1642019Assets 2020: $62,647,011Liabilities 2020: $0Net Assets 2020: $62,647,0112020Assets 2021: $62,247,549Liabilities 2021: $0Net Assets 2021: $62,247,5492021Assets 2022: $50,248,987Liabilities 2022: $1,010,000Net Assets 2022: $49,238,9872022Assets 2023: $52,936,805Liabilities 2023: $362,377Net Assets 2023: $52,574,4282023Assets 2024: $52,850,472Liabilities 2024: $255,056Net Assets 2024: $52,595,4162024

Highlighted filing

2019

Assets$55,920,164
Liabilities$0
Net Assets$55,920,164
Open 2019 Filing

Operations Trend

Revenue Growth1st percentile

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

$60M$40M$20M$0-$20MRevenue 2018: $49,655,425Expenses 2018: $1,500Net Income 2018: $49,653,9252018Revenue 2019: $3,664,022Expenses 2019: $359,501Net Income 2019: $3,304,5212019Revenue 2020: $3,764,357Expenses 2020: $624,816Net Income 2020: $3,139,5412020Revenue 2021: $3,593,252Expenses 2021: $4,270,413Net Income 2021: -$677,1612021Revenue 2022: $711,686Expenses 2022: $4,927,959Net Income 2022: -$4,216,2732022Revenue 2023: $1,137,259Expenses 2023: $2,536,947Net Income 2023: -$1,399,6882023Revenue 2024: $1,974,722Expenses 2024: $3,755,636Net Income 2024: -$1,780,9142024

Highlighted filing

2019

Revenue$3,664,022
Expenses$359,501
Net Income$3,304,521
Open 2019 Filing
Jump To
Filing Snapshot
Filing Period
Jan 1, 2019 to Dec 31, 2019
Signed
Sep 24, 2020
Return Version
2019v5.1
Gross Receipts
$24,868,785
Mission and Program Overview

Mission

The foundation was established for multiple public, educational and charitable purposes, including providing ongoing financial support for a variety of established nonprofit, tax-exempt public, charitable and educational organizations. The foundation will emphasize and award grants to charities that provide or promote education, medicine, science, childcare or the promotion of health and well-being of persons primarily under the age of 26. The foundation may also provide a limited number of scholarships to the children of low income families who lack the financial means to pay for their education, to enable them to attend a private primary or secondary school, or receive a higher education at a college, university or trade school of their choice.

The foundation will award grants to charities that promote education, medicine, science and childcare for health and well being.

Balance Sheet Detail
LineBeginningEndChange
Assets
Investments Other Securities$5,804,134$29,228,872▲ $23,424,738
Investments in Publicly Traded Securities$4,087,593$22,646,577▲ $18,558,984
Cash and Non-Interest-Bearing Accounts$13,495,796--
Savings and Temporary Cash Investments$22,761,254$3,765,957▼ $18,995,297
Pledges and Grants Receivable$3,640,000--
Accounts Receivable-$140,000-
Total Assets$49,799,276$55,920,164▲ $6,120,888
Other Assets Total$10,499$138,758▲ $128,259
Liabilities
Total Liabilities$0$0→ $0
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$49,799,276$55,920,164▲ $6,120,888
Total Net Assets Fund Balance$49,799,276$55,920,164▲ $6,120,888
Total Liabilities and Net Assets / Fund Balance$49,799,276$55,920,164▲ $6,120,888

Asset Categories

AssetBook ValueDepreciationBasis
Other Securities$118,132--
Compensation and Service Providers
Top Officer Pay5th percentile

Board Members and Trustees

NameTitle
Renate S HochleitnerPresident
Tamar EkizianDirector
Melvin J KregerChief Financial Officer
Charanjiv K SidhuSecretary
Revenue and Support

Revenue Composition

Contributions and Grants
$1,088,053
Program Service Revenue
$0
Investment Income
$2,575,969
Other Revenue
$0
All Other Contributions
$1,088,053
Change in Net Assets
$3,304,521

Noncash Contribution Practices

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

Noncash Contributions

Contribution TypeContribution CountReported Amount
Securities Publicly Traded2$965,014
Total Noncash Contributions2$965,014

Audited Revenue Reconciliation

Revenue per Audited Statements
$3,318,182
Revenue Not Reported on Financial Statements
$345,840
Revenue Not Reported on Form 990
$2,816,367
Total Revenue per Audited Statements
$6,134,549
Total Revenue per Form 990
$3,664,022
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$359,501
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Salaries, Compensation, and Employee Benefits$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Fees for Service Investment Mgmnt Fees-$345,840-$345,840
Other Expenses-$8,207-$8,207
Fees for Services Accounting-$5,454-$5,454
Total Functional Expenses$0$359,501$0$359,501

Audited Expense Reconciliation

Line ItemAmount
Total Expenses per Form 990$359,501
Expenses Not Reported on Financial Statements$345,840
Expenses per Audited Statements$13,661
Total Expenses per Audited Statements$13,661
Expenses Not Reported on Form 990$0
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
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
No
Other officer compensation reviewed
No
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 president of the foundation reviews the form 990 and circulates a draft copy of the forms to the board of directors. After approximately one week, the president convenes a brief telephonic meeting of the board members to review and approve the filing of the tax returns.”

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

“Periodic reviews will be conducted to monitor whether compensation arrangements and benefits are reasonable, based on competent survey information, and the result of arms length bargaining. Periodic reviews will also be conducted to verify whether partnerships, joint ventures, and arrangements with management organizations conform to the foundation's written policies, are properly recorded, reflect reasonable investment or payments for goods and services, further charitable purposes and do not result in inurement, impermissible private benefit or in an excess benefit transaction.”

Form 990, Part VI, Section C, Line 18

“Copies of form 1023 and form 990 are available upon request.”

Form 990, Part VI, Section C, Line 19

“Copies of form 1023 and form 990 are available upon request.”

Filing and Contact Details

Filer

Filer Name
Ll Foundation for Youth
EIN
82-5249343
Phone
8187838492
Address
PO BOX 56629, SHERMAN OAKS, CA 91413

Signing Officer

Name
Renate S Hochleitner
Title
President and Director
Phone
8187838492
Signed
2020-09-24
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Renate S Hochleitner
Formed
2018
Legal Domicile
CA
Voting Board Members
4
Independent Board Members
4
Employees
0
Volunteers
0

Preparer

Firm
Gursey Schneider Llp
Address
1888 CENTURY PARK E 900, LOS ANGELES, CA 90067
Preparer
Naz Afshar
Phone
3105520960
Supplemental Narrative

Additional Explanations

Form 990, Part XII, Line 2C

“The organization has a committee that assumes responsibility for oversight of the audit, review of its financial statements and selection of an independent accountant.”

Financial Statement Notes

PART X, LINE 2:

“In accordance with financial accounting standards board ("fasb") accounting standards codification ("asc") topic no. 740, "income taxes," the organization recognized the impact of tax positions in the financial statements if those positions will more likely than not be sustained on audit, based on the technical merits of the position. The organization is exempt from income taxes and accordingly, no provision has been made for federal and state income taxes.”

Raw XML Appendix336 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/MissionDesc0THE FOUNDATION WAS ESTABLISHED FOR MULTIPLE PUBLIC, EDUCATIONAL AND CHARITABLE PURPOSES, INCLUDING PROVIDING ONGOING FINANCIAL SUPPORT FOR A VARIETY OF ESTABLISHED NONPROFIT, TAX-EXEMPT PUBLIC, CHARITABLE AND EDUCATIONAL ORGANIZATIONS. THE FOUNDATION WILL EMPHASIZE AND AWARD GRANTS TO CHARITIES THAT PROVIDE OR PROMOTE EDUCATION, MEDICINE, SCIENCE, CHILDCARE OR THE PROMOTION OF HEALTH AND WELL-BEING OF PERSONS PRIMARILY UNDER THE AGE OF 26. THE FOUNDATION MAY ALSO PROVIDE A LIMITED NUMBER OF SCHOLARSHIPS TO THE CHILDREN OF LOW INCOME FAMILIES WHO LACK THE FINANCIAL MEANS TO PAY FOR THEIR EDUCATION, TO ENABLE THEM TO ATTEND A PRIVATE PRIMARY OR SECONDARY SCHOOL, OR RECEIVE A HIGHER EDUCATION AT A COLLEGE, UNIVERSITY OR TRADE SCHOOL OF THEIR CHOICE.
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IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt0IN ACCORDANCE WITH FINANCIAL ACCOUNTING STANDARDS BOARD ("FASB") ACCOUNTING STANDARDS CODIFICATION ("ASC") TOPIC NO. 740, "INCOME TAXES," THE ORGANIZATION RECOGNIZED THE IMPACT OF TAX POSITIONS IN THE FINANCIAL STATEMENTS IF THOSE POSITIONS WILL MORE LIKELY THAN NOT BE SUSTAINED ON AUDIT, BASED ON THE TECHNICAL MERITS OF THE POSITION. THE ORGANIZATION IS EXEMPT FROM INCOME TAXES AND ACCORDINGLY, NO PROVISION HAS BEEN MADE FOR FEDERAL AND STATE INCOME TAXES.
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc0PART X, LINE 2:
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IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0THE PRESIDENT OF THE FOUNDATION REVIEWS THE FORM 990 AND CIRCULATES A DRAFT COPY OF THE FORMS TO THE BOARD OF DIRECTORS. AFTER APPROXIMATELY ONE WEEK, THE PRESIDENT CONVENES A BRIEF TELEPHONIC MEETING OF THE BOARD MEMBERS TO REVIEW AND APPROVE THE FILING OF THE TAX RETURNS.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1PERIODIC REVIEWS WILL BE CONDUCTED TO MONITOR WHETHER COMPENSATION ARRANGEMENTS AND BENEFITS ARE REASONABLE, BASED ON COMPETENT SURVEY INFORMATION, AND THE RESULT OF ARMS LENGTH BARGAINING. PERIODIC REVIEWS WILL ALSO BE CONDUCTED TO VERIFY WHETHER PARTNERSHIPS, JOINT VENTURES, AND ARRANGEMENTS WITH MANAGEMENT ORGANIZATIONS CONFORM TO THE FOUNDATION'S WRITTEN POLICIES, ARE PROPERLY RECORDED, REFLECT REASONABLE INVESTMENT OR PAYMENTS FOR GOODS AND SERVICES, FURTHER CHARITABLE PURPOSES AND DO NOT RESULT IN INUREMENT, IMPERMISSIBLE PRIVATE BENEFIT OR IN AN EXCESS BENEFIT TRANSACTION.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2COPIES OF FORM 1023 AND FORM 990 ARE AVAILABLE UPON REQUEST.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3COPIES OF FORM 1023 AND FORM 990 ARE AVAILABLE UPON REQUEST.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt4THE ORGANIZATION HAS A COMMITTEE THAT ASSUMES RESPONSIBILITY FOR OVERSIGHT OF THE AUDIT, REVIEW OF ITS FINANCIAL STATEMENTS AND SELECTION OF AN INDEPENDENT ACCOUNTANT.
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 C, LINE 18
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3FORM 990, PART VI, SECTION C, LINE 19
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc4FORM 990, PART XII, LINE 2C
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IRS990/WhistleblowerPolicyInd01
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ReturnHeader/BusinessOfficerGrp/DiscussWithPaidPreparerInd01
ReturnHeader/BusinessOfficerGrp/PersonNm0RENATE S HOCHLEITNER
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0PRESIDENT AND DIRECTOR
ReturnHeader/BusinessOfficerGrp/PhoneNum08187838492
ReturnHeader/BusinessOfficerGrp/SignatureDt02020-09-24
ReturnHeader/Filer/BusinessName/BusinessNameLine1Txt0LL FOUNDATION FOR YOUTH
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ReturnHeader/FilingSecurityInformation/IPTm016:19:19
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ReturnHeader/PreparerFirmGrp/PreparerFirmName/BusinessNameLine1Txt0GURSEY SCHNEIDER LLP
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/AddressLine1Txt01888 CENTURY PARK E 900
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ReturnHeader/PreparerPersonGrp/PreparerPersonNm0NAZ AFSHAR
ReturnHeader/ReturnTs02020-11-02T13:26:00-06:00
ReturnHeader/ReturnTypeCd0990
ReturnHeader/TaxPeriodBeginDt02019-01-01
ReturnHeader/TaxPeriodEndDt02019-12-31
ReturnHeader/TaxYr02019

Document Assets

No mirrored PDF or thumbnail assets are attached yet.

Filings

Displayed year

2019 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$55,920,164
Liabilities
$0
Net assets
$55,920,164
Revenue
$3,664,022
Expenses
$359,501
Net income
$3,304,521
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Detailed filing. Detailed filing data is available for this year.$52.9$0.26$52.6$1.97$3.76$1.78
2023Detailed filing. Detailed filing data is available for this year.$52.9$0.36$52.6$1.14$2.54$1.40
2022Detailed filing. Detailed filing data is available for this year.$50.2$1.01$49.2$0.71$4.93$4.22
2021Detailed filing. Detailed filing data is available for this year.$62.2$0.00$62.2$3.59$4.27$0.68
2020Detailed filing. Detailed filing data is available for this year.$62.6$0.00$62.6$3.76$0.62$3.14
2019Detailed filing. Detailed filing data is available for this year.$55.9$0.00$55.9$3.66$0.36$3.30
2018Detailed filing. Detailed filing data is available for this year.$49.8$0.00$49.8$49.7$0.00$49.7