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Meta Foundation FY2020 filing

Tax-deductible

Beverly Hills, CA501(c)(3)Education EIN 33-0913837Revenue $81K in FY2020

On file with the IRS8383 Wilshire Blvd Ste 1000, 90211-2439 · Beverly Hills, CATax-exempt since Aug 2000Publicly supported charity — 170(b)(1)(A)(vi)

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The organization's purpose is to fund educational scholarships and to provide assistance to enable persons to obtain post-secondary education.

501(c)(3) charity; gifts are tax-deductible.
54¢ of each $1 spent went to programs.
Mission: Form 990 Part I, line 1 · Status: IRS Pub. 78 · Programs: Part IX

Before you give

FY2020 · 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
FY2024
latest Form 990
Looks good: the latest return is for FY2024, 2 tax years back; within 2 tax years.
IRS e-file · Filing history
Surplus or deficit
2 of 5
filings with a surplus
Average surplus $26K a year · 27% of revenue · last 5 filings
Worth a look: a surplus in 2 of the last 5 filings.
Pt I · Ln 19 · 5 filings
Spent on programs
54%
of spending
Worth a look: 54% of spending went to programs; under 65%.
Pt IX · Ln 25 · col B
Cash reserves
6 mo
of spending, in cash
Plus $580K in investments, Pt X · Ln 11–13
Looks good: 6.1 months of spending in cash; 3 or more.
Pt X · Ln 1–2 · Pt I · Ln 18
Named funders
1
named funder · $10K
Fine: 1 funder names it on their filings; under 3.
Funders’ Sch. I, 990-PF
Liabilities
$0
0% of total assets
Looks good: liabilities are 0% of assets; 50% or less.
Pt X · Ln 26
Independent board members
9
of 9 voting members
Looks good: 9 of 9 voting members are independent, a majority.
Pt VI · Ln 1a–1b
Looks goodFineWorth a lookConcernNo data yetTap a box for the reason.
Revenue
$81K
Spent
$113K
To programs
54%
Net assets
$637K
By yearFY2020–FY2024
Revenue
$81K
FY2020
Tap a bar for its year
Revenue by fiscal year
FY2020$81K
FY2021$149K
FY2022$74K
FY2023$129K
FY2024$57K
Expenses
$113K
FY2020
Tap a bar for its year
Expenses by fiscal year
FY2020$113K
FY2021$79K
FY2022$78K
FY2023$31K
FY2024$59K
Net assets
$637K
FY2020
Tap a bar for its year
Net assets by fiscal year
FY2020$637K
FY2021$695K
FY2022$532K
FY2023$644K
FY2024$614K

From the FY2020 Form 990 · see the original

990 PDF Claim
You’re viewing the FY2020 filing — not the latest on file. See the latest (FY2024) →

Is it real?

Yes. Never revoked by the IRS. Latest filing on record: FY2024. IRS ruling in Aug 2000.

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

Where the money goes

54 cents of each dollar spent went to programs.

Program services 54% · $61K Management & general 46% · $53K

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

4 people listed on the 990.

Part VII, Section A · reportable compensation
$0Pt VII · Sec A
$0Pt VII · Sec A
Aizita Magana
Secretary
$0Pt VII · Sec A
$0Pt VII · Sec A
See Meta 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

Funds scholarships and provides assistance for post-secondary education.

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Provided by the organization

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1 program · $61K · in their own filed words · FY2020
01

The goal of the foundation is to provide educational scholarships to individuals enabling them to obtain post- secondary education.

$61Kprogram 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
Fidelity Investments Charitable Gift FundFY2024$10K
Total grants receivedfrom 1 funder$10K
Grants paid · 5 grants · $171K · 2020–2024
Unitemized GrantFY2024$48,500
Unitemized GrantFY2023$16,000
Unitemized GrantFY2022$30,500
Unitemized GrantFY2021$29,000
Unitemized GrantFY2020$47,000

By the numbers

The FY2020 990, line by line.

Download 990
from philanthropy.org
1The main four
Money inPt VIII
$81K
Ln 12
Gifts and grantsLn 1h$49K
Investment incomeLn 3$33K
Money outPt IX
$113K
Ln 25
Programscol B$61K
Managementcol C$53K
Owns and owesPt X
$637K
net assets · Ln 32
Cash and savingsLn 1–2$57K
Total assetsLn 16$637K
LiabilitiesLn 26$0
PeoplePt VI, VII
4
listed · VII A
PaidVII A0
Voting boardVI 1a9
IndependentVI 1b9
2In more detail
Revenue in detailPt VIII
Gifts and grantsLn 1h$49K
Investment incomeLn 3$33K
Gains on assetsLn 7$23K
Total revenueLn 12$81K
Assets in detailPt X, end of year
CashLn 1$57K
Cash and savings togetherLn 1–2$57K
InvestmentsLn 11–13$580K
Total assetsLn 16$637K
LiabilitiesLn 26$0
Net assetsLn 32$637K
OperationsPt I, VI
EmployeesI 50
VolunteersI 68
Fiscal year endsHeaderDecember
Conflict-of-interest policyVI 12aNo
Whistleblower policyVI 13No
Records policyVI 14No
3Year over year
Balance sheet, start vs end of yearPt X · col A, B
LineStart FY20End FY20
Cash and savingsLn 1–2$60K$57K
InvestmentsLn 11–13$609K$580K
Total assetsLn 16$669K$637K
LiabilitiesLn 26$0$0
Net assetsLn 32$669K$637K
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Grants to domestic individualsLn 2$61K$61K
Legal feesLn 11b$60$60
Accounting feesLn 11c$75$75
Investment management feesLn 11f$6K$6K
Other fees for servicesLn 11g$28K$28K
Office expensesLn 13$6K$6K
InsuranceLn 23$2K$2K
Other expenses (24a–d)Ln 24$10K$10K
All other expensesLn 24e$329$329
Total functional expensesLn 25$113K$61K$53K$0

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2024 Latest $57K$59K−$2K$614K 990 PDF
FY2023 $129K$31K$98K$644K 990 PDF
FY2022 $74K$78K−$4K$532K 990 PDF
FY2021 $149K$79K$70K$695K 990 PDF
FY2020 Viewing $81K$113K−$32K$637K 990 PDF

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Schedules filed Part IV

III · Programs R · Related orgs G · Fundraising L · Interested persons I · Grants A · Public support O · Explanations
See the full FY2020 990 (6 parts)
Part I · Summary $81,418 revenue, 12 lines filed
I-8 Contributions and grantsPrior year $36,134$48,733
I-9 Program service revenuePrior year $0$0
I-10 Investment incomePrior year $28,313$33,092
I-11 Other revenuePrior year $97,142−$407
I-12 Total revenuePrior year $161,589$81,418
I-13 Grants and similar amounts paidPrior year $79,000$60,670
I-14 Benefits paid to membersPrior year $0$0
I-15 Salaries and benefitsPrior year $0$0
I-16a Professional fundraising feesPrior year $0$0
I-17 Other expensesPrior year $64,791$52,533
I-18 Total expensesPrior year $143,791$113,203
I-19 Revenue less expensesPrior year $17,798−$31,785
Part VI · Governance 9 of 9 board members independent, 4 to look at
VI-1a Voting members of the governing body9
VI-1b Independent voting members9
VI-12a Written conflict of interest policyNo
VI-13 Written whistleblower policyNo
VI-14 Document retention and destruction policyNo
VI-15a Process for setting top official's payNo
VI-2 Family or business relationship among officers or directorsNo
Part VIII · Statement of revenue $81,418 across 7 lines filed
Lines not itemized here account for $1,356 of total revenue; see the IRS return.
VIII-1f All other contributions, gifts and grants$48,733
VIII-1h Total contributions, gifts and grants$48,733
VIII-3 Investment incomeExcluded from tax $8,278$8,278
VIII-7 Net gain or loss on sales of assetsRelated to mission $23,458$23,458
VIII-8 Net income from fundraising eventsUnrelated business $5,313$5,313
VIII-11a-d Other revenue, itemized rows (sum of 11a–11d as filed)Excluded from tax −$5,720−$5,720
VIII-12 Total revenueRelated to mission $23,458 · Unrelated business $5,313 · Excluded from tax $3,914$81,418
Part IX · Statement of functional expenses $113,203 across 9 lines filed
IX-2 Grants to domestic individualsPrograms $60,670$60,670
IX-11b Legal feesManagement $60$60
IX-11c Accounting feesManagement $75$75
IX-11f Investment management feesManagement $5,677$5,677
IX-11g Other fees for servicesManagement $28,140$28,140
IX-13 Office expensesManagement $6,260$6,260
IX-23 InsuranceManagement $1,756$1,756
IX-24 Other expenses (24a–d)Management $10,236$10,236
IX-24e All other expensesManagement $329$329
IX-25 Total functional expensesPrograms $60,670 · Management $52,533 · Fundraising $0$113,203
Part X · Balance sheet $637,259 assets, 6 lines filed
X-1 Cash, non-interest-bearingStart of year $60,136$57,330
X-12 Other securitiesStart of year $608,908$579,929
X-16 Total assetsStart of year $669,044$637,259
X-26 Total liabilitiesStart of year $0$0
X-32 Total net assets or fund balancesStart of year $669,044$637,259
X-33 Total liabilities and net assetsStart of year $669,044$637,259
Part XI · Reconciliation of net assets $637,259 net assets at year end
XI-1 Total revenue$81,418
XI-2 Total expenses$113,203
XI-3 Revenue less expenses−$31,785
XI-4 Net assets at start of year$669,044
XI-9 Other changes in net assets$0
XI-10 Net assets at end of year$637,259

Form 990 e-file (XML) FY2020 from the IRS · Classification, formation year and address from the IRS Business Master File

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