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Gunn Foundation FY2024 filing

Tax-deductible

Palo Alto, CA501(c)(3)EducationEIN 32-0661928

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The Foundation awards need based scholarships to Gunn High School graduates for post secondary education.

501(c)(3) charity; gifts are tax-deductible.
96¢ of each $1 spent went to programs.
Mission: Form 990 Part I, line 1 · Status: IRS Pub. 78 · Programs: Part IX

Before you give

FY2024 · Form 990Independent: from IRS data, not the org
Download 990
IRS status
501(c)(3)
not on the IRS revocation list
Looks good: listed by the IRS and not on the revocation list.
IRS BMF · Auto-Revocation List
Tax-deductible gifts
Yes
Donations are tax-deductible
Looks good: the IRS lists gifts to it as deductible.
IRS Pub. 78 · IRS BMF
Latest return
FY2025
latest Form 990
Looks good: the latest return is for FY2025, 1 tax year back; within 2 tax years.
IRS e-file · Filing history
Surplus or deficit
2 of 3
filings with a surplus
Average deficit $5K a year · 4% of revenue · last 3 filings
Fine: a surplus in 2 of the last 3 filings.
Pt I · Ln 19 · 3 filings
Spent on programs
96%
of spending
Looks good: 96% of spending went to programs; 75% or more.
Pt IX · Ln 25 · col B
Cash reserves
2 mo
of spending, in cash
Fine: 2.1 months of spending in cash; 1 to 3.
Pt X · Ln 1–2 · Pt I · Ln 18
Named funders
6
named funders · $92K
Looks good: 6 funders name it on their filings; 3 or more.
Funders’ Sch. I, 990-PF
Liabilities
$128K
13% of total assets
Looks good: liabilities are 13% of assets; 50% or less.
Pt X · Ln 26
Independent board members
13
of 13 voting members
Looks good: 13 of 13 voting members are independent, a majority.
Pt VI · Ln 1a–1b
Looks goodFineWorth a lookConcernNo data yetTap a box for the reason.
Revenue
$107K
-16% vs prior year
Spent
$138K
To programs
96%
Net assets
$853K
By yearFY2023–FY2025
Revenue
$107K
FY2024▼ -16%
Revenue by fiscal year
FY2023$127K
FY2024$107K
FY2025$143K
Expenses
$138K
FY2024▲ +12%
Expenses by fiscal year
FY2023$123K
FY2024$138K
FY2025$131K
Net assets
$853K
FY2024▲ +8%
Net assets by fiscal year
FY2023$787K
FY2024$853K
FY2025$963K

From the FY2024 Form 990 (year ending June 2024) · see the original

Form 990 (PDF) Claim
You’re viewing the FY2024 filing — not the latest on file. See the latest (FY2025) →

Is it real?

Yes. Never revoked by the IRS. Latest filing on record: FY2025. IRS ruling in Mar 2022.

IRS Pub. 78 · IRS Auto-Revocation List · IRS Business Master File

Where the money goes

96 cents of each dollar spent went to programs.

Program services 96% · $133K Management & general 4% · $5K

Form 990 Part IX, line 25, columns B–D. Every line is in By the numbers.

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Who runs it and what they're paid

13 people listed on the 990.

Part VII, Section A · reportable compensation · most recent filed roster (FY2023); the FY2024 filing did not itemize Part VII
$0Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A
Jackie Liang
Director
$0Pt VII · Sec A
$0Pt VII · Sec A
Kimberly Eng Lee
Chief Donations Manager
$0Pt VII · Sec A
$0Pt VII · Sec A
See Gunn Foundation executive salaries →

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Questions the 990 asks

The form asks each of these directly. These are the filed answers.

  • Family or business ties among officersPt VI · Ln 2No
  • Top official's pay set by an independent reviewPt VI · Ln 15aNo

Programs and updates

Awards scholarships to Gunn High graduates for college.

Provided by the organization

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1 program · $133K · in their own filed words · FY2023
01

The Foundation awards $132,700 in scholarships to 31 Gunn Senior High School 2023-24 graduates, to be used at any post secondary vocational school, college or university. Additional program expenses include an awards luncheon, software, and advertising scholarship availability.

$133Kprogram expense

Funders

Who pays for it.

From grant filings on record. Receipts are incomplete: individual donors are never listed.

Grants

Schedule I · received and paid
Grants received · FY2024
The Palo Alto Community FundFY2024$20K
Donor Advised Charitable Giving INCFY2024$20K
American Online Giving Foundation INCFY2024$18K
Pfizer Foundation INCFY2024$15K
Fidelity Investments Charitable Gift FundFY2024$11K
Paypal Charitable Giving FundFY2024$9K
Total grants receivedfrom 6 funders$92K
See all 6 funders →
Grants paid · 3 grants · $375K · 2022–2024
Unitemized GrantFY2024$122,600
Unitemized GrantFY2023$132,700
Unitemized GrantFY2022$120,000

By the numbers

The FY2024 990, line by line.

Download 990
from philanthropy.org
1The main four
Money inPt VIII
$107K
Ln 12
Gifts and grantsLn 1h$89K
Investment incomeLn 3$18K
Money outPt IX
$138K
Ln 25
Programscol B$133K
Managementcol C$5K
Owns and owesPt X
$853K
net assets · Ln 32
Cash and savingsLn 1–2$24K
Total assetsLn 16$981K
LiabilitiesLn 26$128K
PeoplePt VI, VII
13
listed · VII A
PaidVII A0
Voting boardVI 1a13
IndependentVI 1b13
2In more detail
Revenue in detailPt VIII
Gifts and grantsLn 1h$89K
Investment incomeLn 3$18K
Total revenueLn 12$107K
Assets in detailPt X, end of year
CashLn 1$24K
Cash and savings togetherLn 1–2$24K
InvestmentsLn 11–13$957K
Total assetsLn 16$981K
LiabilitiesLn 26$128K
Net assetsLn 32$853K
OperationsPt I, VI
EmployeesI 50
VolunteersI 613
Fiscal year endsHeaderJune
Conflict-of-interest policyVI 12aYes
Whistleblower policyVI 13No
Records policyVI 14No
3Year over year
Balance sheet, start vs end of yearPt X · col A, B
LineStart FY24End FY24
Cash and savingsLn 1–2$141K$24K
InvestmentsLn 11–13$763K$957K
Total assetsLn 16$904K$981K
LiabilitiesLn 26$117K$128K
Net assetsLn 32$787K$853K
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Grants to domestic individualsLn 2$133K$133K
Accounting feesLn 11c$1K$1K
Advertising and promotionLn 12$373$373
Office expensesLn 13$391$391
Information technologyLn 14$486$486
Other expenses (24a–d)Ln 24$3K$3K
Total functional expensesLn 25$138K$133K$5K$0

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2025 Latest $143K$131K$12K$963K 990 PDF
FY2024 Viewing $107K$138K−$31K$853K 990 PDF
FY2023 $127K$123K$4K$787K 990 PDF

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Schedules filed Part IV

III · Programs I · Grants R · Related orgs G · Fundraising L · Interested persons A · Public support F · Foreign M · Noncash
See the full FY2024 990 (4 parts)
Part VIII · Statement of revenue $106,601 across 4 lines filed
VIII-1f All other contributions, gifts and grants$89,087
VIII-1h Total contributions, gifts and grants$89,087
VIII-3 Investment incomeExcluded from tax $17,514$17,514
VIII-12 Total revenueRelated to mission $0 · Unrelated business $0 · Excluded from tax $17,514$106,601
Part IX · Statement of functional expenses $137,673 across 6 lines filed
IX-2 Grants to domestic individualsPrograms $132,700$132,700
IX-11c Accounting feesManagement $1,200$1,200
IX-12 Advertising and promotionManagement $373$373
IX-13 Office expensesManagement $391$391
IX-14 Information technologyManagement $486$486
IX-24 Other expenses (24a–d)Management $2,523$2,523
IX-25 Total functional expensesPrograms $132,700 · Management $4,973 · Fundraising $0$137,673
Part X · Balance sheet $980,519 assets, 8 lines filed
X-1 Cash, non-interest-bearingStart of year $141,473$23,914
X-11 Publicly traded securitiesStart of year $762,827$956,605
X-16 Total assetsStart of year $904,300$980,519
X-17 Accounts payable and accrued expensesStart of year $117,355$127,784
X-26 Total liabilitiesStart of year $117,355$127,784
X-27 Net assets without donor restrictionsStart of year $786,945$852,735
X-32 Total net assets or fund balancesStart of year $786,945$852,735
X-33 Total liabilities and net assetsStart of year $904,300$980,519
Part XI · Reconciliation of net assets $852,735 net assets at year end
XI-1 Total revenue$106,601
XI-2 Total expenses$137,673
XI-3 Revenue less expenses−$31,072
XI-4 Net assets at start of year$786,945
XI-5 Net unrealized gains (losses) on investments$96,862
XI-9 Other changes in net assets$0
XI-10 Net assets at end of year$852,735

Form 990 e-file (XML) FY2024 from the IRS · Classification, formation year and address from the IRS Business Master File

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