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Point Loma Trust

Tax-deductible

Chula Vista, CA501(c)(3)Education EIN 81-1295536Revenue $11 in FY2021

On file with the IRS2800 Olympic Pkwy, 91915-6007 · Chula Vista, CATax-exempt since Apr 2016Publicly supported charity — 170(b)(1)(A)(vi)

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Provide financial support for deserving students and programs at Point Loma Nazarene University.

501(c)(3) charity; gifts are tax-deductible.
Mission: Form 990 Part I, line 1 · Status: IRS Pub. 78

Before you give

FY2021 · 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
FY2021
latest Form 990
Concern: the latest return is for FY2021, 5 tax years back; more than 4 tax years.
IRS e-file · Filing history
Surplus or deficit
0 of 2
filings with a surplus
Average deficit $69K a year · 2641% of revenue · last 2 filings
Concern: a surplus in 0 of the last 2 filings.
Pt I · Ln 19 · 2 filings
Spent on programs
0%
of spending
Concern: 0% of spending went to programs; under 50%.
Pt IX · Ln 25 · col B
Cash reserves
5 mo
of spending, in cash
Looks good: 5.0 months of spending in cash; 3 or more.
Pt X · Ln 1–2 · Pt I · Ln 18
Liabilities
$875K
68% of total assets
Worth a look: liabilities are 68% of assets; over 65%.
Pt X · Ln 26
Independent board members
6
of 9 voting members
Looks good: 6 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
$11
-100% vs prior year
Spent
$69K
To programs
0%
Net assets
$412K
By yearFY2020–FY2021
Revenue
$11
FY2021▼ -100%
Tap a bar for its year
Revenue by fiscal year
FY2020$5K
FY2021$11
Expenses
$69K
FY2021▼ -5%
Tap a bar for its year
Expenses by fiscal year
FY2020$73K
FY2021$69K
Net assets
$412K
FY2021▼ -14%
Tap a bar for its year
Net assets by fiscal year
FY2020$482K
FY2021$412K

From the FY2021 Form 990 · see the original

990 PDF Claim

Is it real?

Yes. Never revoked by the IRS. Latest filing on record: FY2021. IRS ruling in Apr 2016.

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

Where the money goes

What each dollar paid for.

Management & general 100% · $69K

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

9 people listed on the 990.

Part VII, Section A · reportable compensation
Greg Jamison
Chief Executive Officer
$0Pt VII · Sec A
Cecil Dunagan
Chief Financial Officer
$0Pt VII · Sec A
Joseph Watkins
Chairman of the Board
$0Pt VII · Sec A
Joy Blount
Board Member
$0Pt VII · Sec A
Bill Davidson
Board Member
$0Pt VII · Sec A
Jason Mackenzie
Board Member
$0Pt VII · Sec A
Monty Ortman
Board Member
$0Pt VII · Sec A
$0Pt VII · Sec A
See Point Loma Trust 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 deserving students and programs at Point Loma Nazarene University.

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Provided by the organization

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1 program · in their own filed words · FY2021
01

Point loma nazarene university.

Pt IX · col B

By the numbers

The FY2021 990, line by line.

Download 990
from philanthropy.org
1The main four
Money inPt VIII
$11
Ln 12
Investment incomeLn 3$11
Money outPt IX
$69K
Ln 25
Managementcol C$69K
Owns and owesPt X
$412K
net assets · Ln 32
Cash and savingsLn 1–2$29K
Total assetsLn 16$1.3M
LiabilitiesLn 26$875K
PeoplePt VI, VII
9
listed · VII A
PaidVII A0
Voting boardVI 1a9
IndependentVI 1b6
2In more detail
Revenue in detailPt VIII
Investment incomeLn 3$11
Total revenueLn 12$11
Assets in detailPt X, end of year
CashLn 1$29K
Cash and savings togetherLn 1–2$29K
Other assetsLn 15$10K
Total assetsLn 16$1.3M
LiabilitiesLn 26$875K
Net assetsLn 32$412K
OperationsPt I, VI
EmployeesI 50
VolunteersI 60
Fiscal year endsHeaderDecember
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 FY21End FY21
Cash and savingsLn 1–2$55K$29K
Total assetsLn 16$1.3M$1.3M
LiabilitiesLn 26$839K$875K
Net assetsLn 32$482K$412K
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Legal feesLn 11b$17K$17K
Accounting feesLn 11c$13K$13K
InsuranceLn 23$39K$39K
Other expenses (24a–d)Ln 24$278$0$278$0
Total functional expensesLn 25$69K$0$69K$0

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2021 Latest Viewing $11$69K−$69K$412K 990 PDF
FY2020 $5K$73K−$68K$482K 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 FY2021 990 (6 parts)
Part I · Summary $11 revenue, 12 lines filed
I-8 Contributions and grantsPrior year $5,175$0
I-9 Program service revenuePrior year $0$0
I-10 Investment incomePrior year $29$11
I-11 Other revenuePrior year $0$0
I-12 Total revenuePrior year $5,204$11
I-13 Grants and similar amounts paidPrior year $30,000$0
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 $43,481$69,453
I-18 Total expensesPrior year $73,481$69,453
I-19 Revenue less expensesPrior year −$68,277−$69,442
Part VI · Governance 6 of 9 board members independent, 3 to look at
VI-1a Voting members of the governing body9
VI-1b Independent voting members6
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
VI-12a Written conflict of interest policyYes
Part VIII · Statement of revenue $11 across 4 lines filed
VIII-1h Total contributions, gifts and grants$0
VIII-3 Investment incomeRelated to mission $11 · Unrelated business $0 · Excluded from tax $0$11
VIII-5 RoyaltiesRelated to mission $0 · Unrelated business $0 · Excluded from tax $0$0
VIII-12 Total revenueRelated to mission $11 · Unrelated business $0 · Excluded from tax $0$11
Part IX · Statement of functional expenses $69,453 across 4 lines filed
IX-11b Legal feesManagement $17,185$17,185
IX-11c Accounting feesManagement $13,458$13,458
IX-23 InsuranceManagement $38,532$38,532
IX-24 Other expenses (24a–d)Programs $0 · Management $278 · Fundraising $0$278
IX-25 Total functional expensesPrograms $0 · Management $69,453 · Fundraising $0$69,453
Part X · Balance sheet $1,286,767 assets, 9 lines filed
Asset lines not itemized here account for $1,066,292; see the IRS return.
X-1 Cash, non-interest-bearingStart of year $54,751$28,851
X-4 Accounts receivableStart of year $146,492$181,624
X-15 Other assetsStart of year $10,000$10,000
X-16 Total assetsStart of year $1,321,077$1,286,767
X-17 Accounts payable and accrued expensesStart of year $146,492$181,624
X-24 Unsecured notes and loans payableStart of year $693,000$693,000
X-26 Total liabilitiesStart of year $839,492$874,624
X-32 Total net assets or fund balancesStart of year $481,585$412,143
X-33 Total liabilities and net assetsStart of year $1,321,077$1,286,767
Part XI · Reconciliation of net assets $412,143 net assets at year end
XI-1 Total revenue$11
XI-2 Total expenses$69,453
XI-3 Revenue less expenses−$69,442
XI-4 Net assets at start of year$481,585
XI-5 Net unrealized gains (losses) on investments$0
XI-6 Donated services and use of facilities$0
XI-7 Investment expenses$0
XI-8 Prior period adjustments$0
XI-9 Other changes in net assets$0
XI-10 Net assets at end of year$412,143

Form 990 e-file (XML) FY2021 from the IRS · Classification, formation year and address from the IRS Business Master File

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