2024-04-19T13:09:52-05:00 2023-06-30 953001179 WINDES INC PO BOX 87 LONG BEACH CA 90801 990 2022-07-01 453552314 MANHATTAN BEACH EDUCATION FOUNDATION ENDOWMENT FUND MANH 3103033342 325 S PECK AVE MANHATTAN BEACH CA 90266 MITCH OZAWA TREASURER 3103033342 2024-04-17 1 MITCH OZAWA 999009999 1 AARON PHILLIPS P01654760 5624351191 2024-04-17 2 AAL1 IAL1 2022 2023-04-26 12:10:37Z ROGER SPENCER 325 S PECK AVE MANHATTAN BEACH CA 90266 3039435 0 X ENDOWMENT.MBEF.ORG X 2011 CA THE MANHATTAN BEACH EDUCATION FOUNDATION ENDOWMENT FUND PROVIDES THE MANHATTAN BEACH EDUCATION FOUNDATION WITH A CONTINUING AND SUSTAINABLE FUNDING SOURCE THAT WILL EXPAND AND ENHANCE THE QUALITY OF PUBLIC EDUCATION IN MANHATTAN BEACH, NOW AND FOR GENERATIONS TO COME. 7 7 0 10 0 0 1119234 1003913 0 0 782552 982584 0 0 1901786 1986497 1141702 1162951 0 0 0 0 0 0 75471 107911 103156 1249613 1266107 652173 720390 21812360 23649646 65000 65000 21747360 23584646 MBEF ENDOWMENT PROVIDES MBEF WITH A CONTINUING AND SUSTAINABLE FUNDING SOURCE THAT WILL EXPAND AND ENHANCE THE QUALITY OF PUBLIC EDUCATION IN MANHATTAN BEACH, NOW AND FOR GENERATIONS TO COME. 0 0 1162951 1162951 THE ORGANIZATION'S MISSION IS TO RAISE, RECEIVE, HOLD, INVEST, AND ADMINISTER FUNDS AND PROPERTY SO RECEIVED, AND TO MAKE EXPENDITURES THEREFROM TO SUPPLY SUPPORTIVE SERVICE AND FUND SPECIFIC PROGRAMS FOR THE BENEFIT OF THE MANHATTAN BEACH EDUCATION FOUNDATION AND IN TURN, THE EDUCATIONAL PROGRAMS OF THE MANHATTAN BEACH UNIFIED SCHOOL DISTRICT. 1162951 1 1 0 0 0 0 0 0 0 1 1 0 0 0 1 1 0 1 0 0 0 0 0 0 0 0 0 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 1 0 0 0 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 X 7 7 0 0 0 0 0 0 0 1 1 0 0 1 1 1 1 1 1 1 1 0 CA X X X HILARY MAHAN EXECUTIVE DIRECTOR 3103033342 325 S PECK AVE MANHATTAN BEACH CA 90266 MIKE DUCKWORTH PRESIDENT 1.00 X X 0 0 0 MITCHELL OZAWA TREASURER 5.00 X X 0 0 0 RICH WEISS CIO 5.00 X X 0 0 0 GEOFF BREMER DIRECTOR 1.00 X 0 0 0 JERI VICK DIRECTOR 1.00 X 0 0 0 ROGER SPENCER DIRECTOR 1.00 1.00 X 0 0 0 ALICE KUO DIRECTOR 1.00 10.00 X 0 0 0 HILARY MAHAN EXECUTIVE DIRECTOR 8.00 32.00 X 0 147056 0 DAVID BRENNAN DIR. OF DEVELOPMENT & PARTNERSHIP 8.00 32.00 X 0 118558 0 0 265614 0 0 0 0 0 0 852088 151825 1003913 535522 535522 1500000 1052938 447062 447062 447062 1986497 0 0 982584 1162951 1162951 65000 19500 45500 3600 3200 400 1156 1156 400 400 3414 3414 COMMUNITY RELATIONS 29040 29040 BANK & MERCHANT FEES 546 15 531 1266107 1162951 27685 75471 162252 159016 9955 3807 500 7306 7353 7114 7114 0 0 20698185 22645361 934662 833609 21812360 23649646 65000 65000 65000 65000 X 11563106 11395597 10184254 12189049 21747360 23584646 21812360 23649646 720390 1116896 0 X 0 1 X 1 0 X 973561 275278 551180 1119234 1003913 3923166 973561 275278 551180 1119234 1003913 3923166 56634 3866532 447982 430420 425170 472838 535522 2311932 6235098 0.62010 0.63800 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 21684221 1003909 2086774 1158451 156000 23460453 23975465 1361236 -2515278 1137202 21684221 18915301 224017 5835564 999417 23975465 19329812 151084 358237 923832 18915301 18208555 973561 971696 824000 19329812 0.48190 0.37100 0.14710 0 0 5696 5696 0 1418 1418 0 0 DUE TO MANHATTAN BEACH EDUCATION FOUNDATION 65000 65000 X 3103393 1116896 1116896 1986497 0 1986497 1266107 0 1266107 0 1266107 PART V, LINE 4: PER ENDOWMENT'S DISBURSEMENT POLICY, IF THE MARKET VALUE OF THE FUNDS IS GREATER THAN $10 MILLION ON DECEMBER 31 OF EACH YEAR, THE BOARD MAY MAKE AN ANNUAL DISBURSEMENT TO MBEF. CURRENT TARGET DISBURSEMENT RATE IS 1% FOR FUND MARKET VALUE $10-$12 MILLION, 2% FOR FUND MARKET VALUE OF $12-$13 MILLION, 3% FOR FUND MARKET VALUE OF $13-$14 MILLION, 4% FOR FUND MARKET VALUE OF $14-$15 MILLION, 5% FOR FUND MARKET VALUE OF OVER $15 MILLION. FOR 2022- THE FUND MARKET VALUE AT 12/31/22 WAS AROUND $21.8 MILLION SO 5% WAS THE DISBURSEMENT RATE. THE BOARD APPROVED $1,158,451 (5% OF THE THREE-YEAR AVERAGE YEAR END MARKET VALUE OF THE ENDOWMENT). PART X, LINE 2: FIN 48: THE ORGANIZATION RECOGNIZES THE FINANCIAL STATEMENT BENEFIT OF TAX POSITIONS, SUCH AS ITS FILING STATUS AS TAX-EXEMPT, ONLY AFTER DETERMINING THAT THE RELEVANT TAX AUTHORITY WOULD MORE LIKELY THAN NOT SUSTAIN THE POSITION FOLLOWING AN AUDIT. THE ORGANIZATION IS SUBJECT TO POTENTIAL INCOME TAX AUDITS ON OPEN TAX YEARS BY ANY TAXING JURISDICTION IN WHICH IT OPERATES. THE STATUTE OF LIMITATIONS FOR FEDERAL PURPOSES IS THREE YEARS AND FOR CALIFORNIA PURPOSES IS FOUR YEARS. 1 MANHATTAN BEACH EDUCATION FOUNDATION 325 PECK AVE MANHATTAN BEACH CA 90266 953881166 501(C)(3) 1162951 0 K-12 EDUCATIONAL SUPPORT 1 PART I, LINE 2: PER ENDOWMENT'S DISBURSEMENT POLICY, IF THE MARKET VALUE OF THE FUNDS IS GREATER THAN $10 MILLION ON DECEMBER 31 OF EACH YEAR, THE BOARD MAY MAKE AN ANNUAL DISBURSEMENT TO MBEF. CURRENT TARGET DISBURSEMENT RATE IS 1% FOR FUND MARKET VALUE $10-$12 MILLION, 2% FOR FUND MARKET VALUE OF $12-$13 MILLION, 3% FOR FUND MARKET VALUE OF $13-$14 MILLION, 4% FOR FUND MARKET VALUE OF $14-$15 MILLION, 5% FOR FUND MARKET VALUE OF OVER $15 MILLION. FOR 2022- THE FUND MARKET VALUE AT 12/31/22 WAS AROUND $21.8 MILLION SO 5% WAS THE DISBURSEMENT RATE. THE BOARD APPROVED $1,158,451 (5% OF THE THREE-YEAR AVERAGE YEAR END MARKET VALUE OF THE ENDOWMENT). FORM 990, PART VI, SECTION B, LINE 11B DESCRIBE THE PROCESS USED BY THE ORGANIZATION TO REVIEW THIS FORM 990: THE AUDIT AND COMPLIANCE COMMITTEE REVIEWS AND APPROVES THE FORM 990. IT IS THEN PROVIDED TO THE FULL BOARD FOR FINAL REVIEW, AND THE AUDIT AND COMPLIANCE COMMITTEE CHAIR PRESENTS THE COMMITTEE'S APPROVAL. FORM 990, PART VI, SECTION B, LINE 12C DID THE ORGANIZATION REGULARLY AND CONSISTENTLY MONITOR THE CONFLICT OF INTEREST POLICY? EMPLOYEES, INDEPENDENT CONTRACTORS, BOARD OF DIRECTOR MEMBERS, AND COMMITTEE MEMBERS MUST SIGN A CONFLICT OF INTEREST DECLARATION ANNUALLY. THE FORMS ARE REVIEWED AND MAINTAINED IN THE ORGANIZATION'S OFFICES. THE PERSON WITH CONFLICT CONCERNS SHALL NOT PARTICIPATE IN DISCUSSION AND VOTE OF THE MATTER. FORM 990, PART VI, SECTION B, LINE 15 DID THE PROCESS TO DETERMINE COMPENSATION INCLUDE A REVIEW AND APPROVAL BY INDEPENDENT PERSONS, COMPARABLE DATA, AND COMTEMPORANEOUS SUBSTANTIATION OF THE DELIBERATION AND DECISION? EMPLOYEES AND INDEPENDENT CONTRACTORS RECEIVE AN ANNUAL REVIEW WITH THE EXECUTIVE DIRECTOR. THE EXECUTIVE DIRECTOR RECEIVES AN ANNUAL REVIEW WITH THE BOARD PRESIDENT. THESE REVIEWS ARE DOCUMENTED AND PROVIDED TO THE OFFICERS OF THE BOARD. ANY PROPOSED CHANGES TO CURRENT COMPENSATION ARE PROVIDED TO THE OFFICERS OF THE BOARD FOR APPROVAL. THE BOARD APPROVES A BUDGET FOR COMPENSATION IN TOTAL. THE EXECUTIVE DIRECTOR APPROVES THE COMPENSATION PER EMPLOYEE BUT ONLY UP TO THE AUTHORIZED BUDGET AMOUNT. FORM 990, PART VI, SECTION C, LINE 19 DESCRIBE HOW THE ORGANIZATION MAKES ITS GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICY, AND FINANCIAL STATEMENTS AVAILABLE TO THE PUBLIC: THE ORGANIZATION MAKES GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICY, AND FINANCIAL STATEMENTS AVAILABLE UPON REQUEST. THE ORGANIZATION MAKES ITS FORM 1023 AND FORM 990 AVAILABLE UPON REQUEST. MANHATTAN BEACH EDUCATION FOUNDATION 325 S PECK AVE MANHATTAN BEACH CA 90266 953881166 PUBLIC CHARITY CA 501(C)(3) LINE 7 0 0 1 1 0 0 0 0 0 0 0 0 0 1 1 1 1 0 0 0