Taft College Foundation

Tax-deductible

Taft, CA501(c)(3)Since 2002EducationEIN 43-2023035

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The Taft College Foundation is dedicated to supporting student success through fund raising and development of community relationships.

501(c)(3) charity; gifts are tax-deductible.
94¢ of each $1 spent went to programs.
Run by 140 volunteers and 43 employees.
Mission: Form 990 Part I, line 1 · Status: IRS Pub. 78 · Programs: Part IX · People: Part I, lines 5–6

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
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
3 of 5
filings with a surplus
Average surplus $338K a year · 30% of revenue · last 5 filings
Worth a look: a surplus in 3 of the last 5 filings.
Pt I · Ln 19 · 5 filings
Spent on programs
94%
of spending
Looks good: 94% of spending went to programs; 75% or more.
Pt IX · Ln 25 · col B
Pay to officers and key staff
$85K
to officers and key staff · 7% of spending
Top officer’s pay lower than 87% of similar orgs
Looks good: pay to officers and key staff is 7% of spending; 15% or less.
Pt VII · Sec A
Cash reserves
75 mo
of spending, in cash
Looks good: 75.2 months of spending in cash; 3 or more.
Pt X · Ln 1–2 · Pt I · Ln 18
Named funders
5
named funders · $511K
Looks good: 5 funders name it on their filings; 3 or more.
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
32
of 32 voting members
Looks good: 32 of 32 voting members are independent, a majority.
Pt VI · Ln 1a–1b
Looks goodFineWorth a lookConcernNo data yetTap a box for the reason.
Revenue
$2.1M
+123% vs prior year
Spent
$1.2M
To programs
94%
Net assets
$7.3M
By yearFY2020–FY2024
Revenue
$2.1M
FY2024▲ +123%
Revenue by fiscal year
FY2020$749K
FY2021$1.7M
FY2022$1.3M
FY2023$865K
FY2024$958K
FY2024$2.1M
Expenses
$1.2M
FY2024▲ +20%
Expenses by fiscal year
FY2020$777K
FY2021$694K
FY2022$741K
FY2023$745K
FY2024$967K
FY2024$1.2M
Net assets
$7.3M
FY2024▲ +25%
Net assets by fiscal year
FY2020$3.6M
FY2021$5.0M
FY2022$5.2M
FY2023$5.4M
FY2024$5.8M
FY2024$7.3M

From the FY2024 Form 990 · figures checked against the IRS filing · see the original

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Is it real?

Yes. Never revoked by the IRS. Latest filing on record: FY2024. IRS ruling in Apr 2004.

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

Where the money goes

94 cents of each dollar spent went to programs.

Program services 94% · $1.1M Management & general 5% · $52K Fundraising 2% · $19K

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

30 people listed on the 990; $85K paid to officers and key staff.

Part VII, Section A · reportable compensation
Executive Director Foundation
$68,737Pt VII · Sec A
Development Associate
$15,944Pt VII · Sec A
$0Pt VII · Sec A
Secretary
$0Pt VII · Sec A
Director
$0Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A
Director
$0Pt VII · Sec A

Sheri Horn-Bunk’s $69K as Executive Director Foundation is at the 13th percentile of top reported officer pay among 3394 $1–10M education nonprofits. Peer set: organizations in the same NTEE major field of work and revenue-size band, compared on each org’s own highest-paid officer/key-employee, from Form 990 Part VII / 990-PF Part VIII. Descriptive placement, not a verdict on whether the pay is appropriate.

Compensation history total reportable pay by year · 4 named individuals · Part VII

NameFY2024FY2024FY2023FY2022FY2021FY2020
Sheri Horn-Bunk$68,737$64,831$59,927$54,440——
Sheri Honr-Bunk————$52,419$49,122
Liesl Mahealani Maui—$9,606$11,894$11,045$20,326$18,917
Jonathan Bench$15,944$2,996————

Total reportable compensation (Form 990 Part VII column D / Schedule J column E) by filing year, matched by name within this organization. The Schedule J base / bonus / deferred breakdown is not parsed into this dataset.

See Taft College 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

Provides community resources, especially scholarships, to Taft Community College.

Provided by the organization

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1 program service account for $1.1M of program spending, described in the organization's own filed words · FY2024.
01

The Taft College Foundation staff cultivate and direct community resources to the Taft Community College in the areas that matter most to the community. All of the Foundation's focus pertains to student scholarships.

$1.1Mprogram expense

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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
See all 5 funders →
Grants paid · 6 grants · $947K · 2019–2024
Unitemized GrantFY2024$229,650
Unitemized GrantFY2023$225,681
Unitemized GrantFY2022$175,275
Unitemized GrantFY2021$170,200
Unitemized GrantFY2020$41,750
Unitemized GrantFY2019$104,284

By the numbers

The FY2024 990, line by line.

1The main four
Money inPt VIII
$2.1M
Ln 12
Investment incomeLn 3$2.0M
Gifts and grantsLn 1h$108K
Other incomeLn 4–11$55K
Money outPt IX
$1.2M
Ln 25
Programscol B$1.1M
Managementcol C$52K
Fundraisingcol D$19K
Owns and owesPt X
$7.3M
net assets · Ln 32
Cash and savingsLn 1–2$7.2M
Total assetsLn 16$7.3M
LiabilitiesLn 26$0
PeoplePt VI, VII
30
listed · VII A
PaidVII A2
Voting boardVI 1a32
IndependentVI 1b32
2In more detail
Revenue in detailPt VIII
Gifts and grantsLn 1h$108K
Investment incomeLn 3$2.0M
Other incomeLn 4–11$55K
Gains on assetsLn 7$0
Total revenueLn 12$2.1M
Assets in detailPt X, end of year
CashLn 1$0
SavingsLn 2$7.2M
Cash and savings togetherLn 1–2$7.2M
InvestmentsLn 11–13$0
Land, buildings, equipmentLn 10c$0
Other assetsLn 15$81K
Total assetsLn 16$7.3M
LiabilitiesLn 26$0
Net assetsLn 32$7.3M
OperationsPt I, VI
EmployeesI 543
VolunteersI 6140
Fiscal year endsHeaderDecember
Conflict-of-interest policyVI 12aYes
Whistleblower policyVI 13No
Records policyVI 14Yes
3Year over year
Balance sheet, start vs end of yearPt X · col A, B
LineStart FY24End FY24
Cash and savingsLn 1–2$5.8M$7.2M
InvestmentsLn 11–13$0
Land, buildings, equipmentLn 10c$0
Total assetsLn 16$5.9M$7.3M
LiabilitiesLn 26$10K$0
Net assetsLn 32$5.8M$7.3M
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Grants to domestic organizationsLn 1$0
Grants to domestic individualsLn 2$230K$230K
Grants and assistance to foreign recipientsLn 3$0
Benefits paid to or for membersLn 4$0
Pay of current officers, directors and key staffLn 5$129K$97K$26K$6K
Pay of disqualified personsLn 6$0
Other salaries and wagesLn 7$0
Pension plan contributionsLn 8$0
Other employee benefitsLn 9$0
Payroll taxesLn 10$0
Management feesLn 11a$49K$49K
Legal feesLn 11b$0
Accounting feesLn 11c$0
Lobbying feesLn 11d$0
Professional fundraising feesLn 11e$0
Investment management feesLn 11f$0
Other fees for servicesLn 11g$95K$83K$12K
Advertising and promotionLn 12$0
Office expensesLn 13$5K$4K$715$238
Information technologyLn 14$0
RoyaltiesLn 15$0
OccupancyLn 16$0
TravelLn 17$0
Travel and entertainment for public officialsLn 18$0
Conferences, conventions and meetingsLn 19$11K$6K$3K$2K
InterestLn 20$0
Payments to affiliatesLn 21$0
Depreciation, depletion and amortizationLn 22$0
InsuranceLn 23$0
Other expenses (24a–d)Ln 24$637K$617K$10K$10K
All other expensesLn 24e$0
Total functional expensesLn 25$1.2M$1.1M$52K$19K

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2024 $958K$967K−$9K$5.8M 990 PDF
FY2023 $865K$745K$120K$5.4M 990 PDF
FY2022 $1.3M$741K$556K$5.2M 990 PDF
FY2021 $1.7M$694K$1.0M$5.0M 990 PDF
FY2020 $749K$777K−$29K$3.6M 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 $2,136,406 across 8 lines filed
VIII-1f All other contributions, gifts and grants$108,406
VIII-1h Total contributions, gifts and grants$108,406
VIII-3 Investment incomeExcluded from tax $1,972,808$1,972,808
VIII-5 Royalties$0
VIII-6 Net rental income or loss$0
VIII-7 Net gain or loss on sales of assets$0
VIII-8 Net income from fundraising eventsExcluded from tax $55,192$55,192
VIII-12 Total revenueExcluded from tax $2,028,000$2,136,406
Part IX · Statement of functional expenses $1,155,765 across 31 lines filed
IX-1 Grants to domestic organizations$0
IX-2 Grants to domestic individualsPrograms $229,650$229,650
IX-3 Grants and assistance to foreign recipients$0
IX-4 Benefits paid to or for members$0
IX-5 Pay of current officers, directors and key staffPrograms $96,909 · Management $25,782 · Fundraising $6,446$129,137
IX-6 Pay of disqualified persons$0
IX-7 Other salaries and wages$0
IX-8 Pension plan contributions$0
IX-9 Other employee benefits$0
IX-10 Payroll taxes$0
IX-11a Management feesPrograms $49,073$49,073
IX-11b Legal fees$0
IX-11c Accounting fees$0
IX-11d Lobbying fees$0
IX-11e Professional fundraising fees$0
IX-11f Investment management fees$0
IX-11g Other fees for servicesPrograms $82,596 · Management $12,375$94,971
IX-12 Advertising and promotion$0
IX-13 Office expensesPrograms $3,815 · Management $715 · Fundraising $238$4,768
IX-14 Information technology$0
IX-15 Royalties$0
IX-16 Occupancy$0
IX-17 Travel$0
IX-18 Travel and entertainment for public officials$0
IX-19 Conferences, conventions and meetingsPrograms $5,609 · Management $3,365 · Fundraising $2,244$11,218
IX-20 Interest$0
IX-21 Payments to affiliates$0
IX-22 Depreciation, depletion and amortization$0
IX-23 Insurance$0
IX-24 Other expenses (24a–d)Programs $616,817 · Management $10,014 · Fundraising $10,117$636,948
IX-24e All other expenses$0
IX-25 Total functional expensesPrograms $1,084,469 · Management $52,251 · Fundraising $19,045$1,155,765
Part X · Balance sheet $7,326,187 assets, 18 lines filed
X-1 Cash, non-interest-bearing$0
X-2 Savings and temporary cash investmentsStart of year $5,776,791$7,243,795
X-3 Pledges and grants receivable$0
X-4 Accounts receivable$0
X-8 Inventories for sale or use$0
X-9 Prepaid expenses and deferred chargesStart of year $1,746$1,392
X-10c Land, buildings and equipment, net$0
X-11 Publicly traded securities$0
X-12 Other securities$0
X-13 Program-related investments$0
X-14 Intangible assets$0
X-15 Other assetsStart of year $81,000$81,000
X-16 Total assetsStart of year $5,859,537$7,326,187
X-26 Total liabilitiesStart of year $10,000$0
X-27 Net assets without donor restrictionsStart of year $375,379$652,851
X-28 Net assets with donor restrictionsStart of year $5,474,158$6,673,336
X-32 Total net assets or fund balancesStart of year $5,849,537$7,326,187
X-33 Total liabilities and net assetsStart of year $5,859,537$7,326,187
Part XI · Reconciliation of net assets $7,326,187 net assets at year end
XI-1 Total revenue$2,136,406
XI-2 Total expenses$1,155,765
XI-3 Revenue less expenses$980,641
XI-4 Net assets at start of year$5,849,537
XI-5 Net unrealized gains (losses) on investments$496,009
XI-10 Net assets at end of year$7,326,187

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

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