Verna S Oller Foundation FY2020 filing

Tax-deductible

Long Beach, WA501(c)(3)EducationEIN 45-4050823Revenue $49K in FY2020

On file with the IRSPo Box 382, 98631-0382 · Long Beach, WATax-exempt since Feb 2013Supporting org, Type I — 509(a)(3)

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To provide scholarships and education assistance to graduates and teachers of the Ocean Beach School District.

501(c)(3) charity; gifts are tax-deductible.
100¢ 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
4 of 5
filings with a surplus
Average surplus $19K a year · 40% of revenue · last 5 filings
Fine: a surplus in 4 of the last 5 filings.
Pt I · Ln 19 · 5 filings
Spent on programs
100%
of spending
Looks good: 100% of spending went to programs; 75% or more.
Pt IX · Ln 25 · col B
Cash reserves
10 mo
of spending, in cash
Looks good: 9.7 months of spending in cash; 3 or more.
Pt X · Ln 1–2 · Pt I · Ln 18
Liabilities
$0
0% of total assets
Looks good: liabilities are 0% of assets; 50% or less.
Pt X · Ln 26
Independent board members
0
of 1 voting members
Concern: none of 1 voting members are independent.
Pt VI · Ln 1a–1b
Looks goodFineWorth a lookConcernNo data yetTap a box for the reason.
Revenue
$49K
Spent
$25K
To programs
100%
Net assets
$829K
By yearFY2020–FY2024
Revenue
$49K
FY2020
Tap a bar for its year
Revenue by fiscal year
FY2020$49K
FY2021$79K
FY2022$35K
FY2023$42K
FY2024$29K
Expenses
$25K
FY2020
Tap a bar for its year
Expenses by fiscal year
FY2020$25K
FY2021$24K
FY2022$28K
FY2023$28K
FY2024$34K
Net assets
$829K
FY2020
Tap a bar for its year
Net assets by fiscal year
FY2020$829K
FY2021$883K
FY2022$890K
FY2023$904K
FY2024$898K

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 Feb 2013.

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

Where the money goes

100 cents of each dollar spent went to programs.

Program services 100% · $25K

Form 990 Part IX, line 25. Every line is in By the numbers.

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Who runs it and what they're paid

1 person listed on the 990.

Part VII, Section A · reportable compensation
$0Pt VII · Sec A
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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

Offers scholarships and education aid to Ocean Beach School District graduates and teachers.

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Provided by the organization

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1 program · $25K · in their own filed words · FY2020
01

The organization will provide scholarships for students that have graduated from the Ocean Beach School District and it will also provide education assistance for teachers of the Ocean Beach School District who wish to further their education.

$25Kprogram expense

Funders

Who pays for it.

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

Grants

Schedule I · this organization's grantmaking
Grants paid · 5 grants · $97K · 2020–2024
Ocean Beach School DistrictFY2024$25,000
Ocean Beach School DistrictFY2023$20,000
Ocean Beach School DistrictFY2022$20,000
Ocean Beach School DistrictFY2021$16,460
Ocean Beach School DistrictFY2020$16,000

By the numbers

The FY2020 990, line by line.

1The main four
Money inPt VIII
$49K
Ln 12
Investment incomeLn 3$49K
Money outPt IX
$25K
Ln 25
Programscol B$25K
Owns and owesPt X
$829K
net assets · Ln 32
Cash and savingsLn 1–2$20K
Total assetsLn 16$829K
LiabilitiesLn 26$0
PeoplePt VI, VII
1
listed · VII A
PaidVII A0
Voting boardVI 1a1
IndependentVI 1b0
2In more detail
Revenue in detailPt VIII
Investment incomeLn 3$49K
Gains on assetsLn 7$12K
Total revenueLn 12$49K
Assets in detailPt X, end of year
CashLn 1$0
SavingsLn 2$20K
Cash and savings togetherLn 1–2$20K
InvestmentsLn 11–13$808K
Land, buildings, equipmentLn 10c$0
Other assetsLn 15$0
Total assetsLn 16$829K
LiabilitiesLn 26$0
Net assetsLn 32$829K
OperationsPt I, VI
EmployeesI 50
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$31K$20K
InvestmentsLn 11–13$774K$808K
Land, buildings, equipmentLn 10c$0
Total assetsLn 16$805K$829K
LiabilitiesLn 26$0$0
Net assetsLn 32$805K$829K
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Grants to domestic organizationsLn 1$16K$16K
Grants to domestic individualsLn 2$0
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$0
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$0
Legal feesLn 11b$0
Accounting feesLn 11c$3K$3K
Lobbying feesLn 11d$0
Professional fundraising feesLn 11e$0
Investment management feesLn 11f$6K$6K
Other fees for servicesLn 11g$302$302
Advertising and promotionLn 12$0
Office expensesLn 13$0
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$0
InterestLn 20$0
Payments to affiliatesLn 21$0
Depreciation, depletion and amortizationLn 22$0
InsuranceLn 23$0
All other expensesLn 24e$0
Total functional expensesLn 25$25K$25K$0$0

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2024 Latest $29K$34K−$6K$898K 990 PDF
FY2023 $42K$28K$14K$904K 990 PDF
FY2022 $35K$28K$7K$890K 990 PDF
FY2021 $79K$24K$55K$883K 990 PDF
FY2020 Viewing $49K$25K$23K$829K 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 FY2020 990 (6 parts)
Part I · Summary $48,556 revenue, 12 lines filed
I-8 Contributions and grants$0
I-9 Program service revenue$0
I-10 Investment incomePrior year $4,575$48,556
I-11 Other revenue$0
I-12 Total revenuePrior year $4,575$48,556
I-13 Grants and similar amounts paidPrior year $18,000$16,000
I-14 Benefits paid to members$0
I-15 Salaries and benefits$0
I-16a Professional fundraising fees$0
I-17 Other expensesPrior year $8,298$9,130
I-18 Total expensesPrior year $26,298$25,130
I-19 Revenue less expensesPrior year −$21,723$23,426
Part VI · Governance 0 of 1 board members independent, 4 to look at
VI-1a Voting members of the governing body1
VI-1b Independent voting members0
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 $48,556 across 7 lines filed
VIII-1h Total contributions, gifts and grants$0
VIII-3 Investment incomeRelated to mission $37,031$37,031
VIII-5 Royalties$0
VIII-6 Net rental income or loss$0
VIII-7 Net gain or loss on sales of assetsRelated to mission $11,525$11,525
VIII-8 Net income from fundraising events$0
VIII-12 Total revenueRelated to mission $48,556$48,556
Part IX · Statement of functional expenses $25,130 across 30 lines filed
IX-1 Grants to domestic organizationsPrograms $16,000$16,000
IX-2 Grants to domestic individuals$0
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 staff$0
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 fees$0
IX-11b Legal fees$0
IX-11c Accounting feesPrograms $2,535$2,535
IX-11d Lobbying fees$0
IX-11e Professional fundraising fees$0
IX-11f Investment management feesPrograms $6,293$6,293
IX-11g Other fees for servicesPrograms $302$302
IX-12 Advertising and promotion$0
IX-13 Office expenses$0
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 meetings$0
IX-20 Interest$0
IX-21 Payments to affiliates$0
IX-22 Depreciation, depletion and amortization$0
IX-23 Insurance$0
IX-24e All other expenses$0
IX-25 Total functional expensesPrograms $25,130 · Management $0 · Fundraising $0$25,130
Part X · Balance sheet $828,540 assets, 17 lines filed
X-1 Cash, non-interest-bearing$0
X-2 Savings and temporary cash investmentsStart of year $30,729$20,244
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 charges$0
X-10c Land, buildings and equipment, net$0
X-11 Publicly traded securitiesStart of year $774,385$808,296
X-12 Other securities$0
X-13 Program-related investments$0
X-14 Intangible assets$0
X-15 Other assets$0
X-16 Total assetsStart of year $805,114$828,540
X-26 Total liabilitiesStart of year $0$0
X-27 Net assets without donor restrictionsStart of year $805,114$828,540
X-32 Total net assets or fund balancesStart of year $805,114$828,540
X-33 Total liabilities and net assetsStart of year $805,114$828,540
Part XI · Reconciliation of net assets $828,540 net assets at year end
XI-1 Total revenue$48,556
XI-2 Total expenses$25,130
XI-3 Revenue less expenses$23,426
XI-4 Net assets at start of year$805,114
XI-10 Net assets at end of year$828,540

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

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