Nonprofit · EIN 87-1337572
TL FOUNDATION
Tax-exempt · SAN DIEGO, CA 92101
Financials
| Year ended | Form | Revenue | Expenses | Net income | Total assets | Liabilities | Net assets |
|---|---|---|---|---|---|---|---|
| June 30, 2025 | 990 | $127,787 | $100,067 | $27,720 | $905,298 | -$1,250 | $906,548 |
| June 30, 2024 | 990 | $1,021,296 | $142,632 | $878,664 | $892,828 | $14,000 | $878,828 |
Financial details: 990 for the year ended June 30, 2025
Revenue
- Contributions, gifts and grants
- $110,000
- Program service revenue
- $0
- Investment income
- $17,787
- Other revenue
- $0
Expenses
- Grants and similar amounts paid
- $0
- Salaries, compensation and benefits (total)
- $0
- Professional fundraising fees
- $0
- Accounting fees
- $2,500
- Program services (functional)
- $90,000
- Management and general (functional)
- $10,067
Balance sheet and other
- Total assets, start of year
- $892,828
- Total assets, end of year
- $905,298
- Total liabilities, end of year
- -$1,250
- Net assets, end of year
- $906,548
- Net assets without donor restrictions
- $906,548
- Gross receipts
- $127,787
- Employees
- 0
- Volunteers
- 0
- Year formed
- 2020
- State of legal domicile
- CA
From the e-filed returns the IRS publishes as XML (latest three processing years; amended returns replace the original). PDF copies at the IRS.
Officers, directors and key employees
As listed on the 990 for the year ended June 30, 2025, highest compensation first.
| Name | Title | Hours / week | Compensation |
|---|---|---|---|
| MIKE KRENN | DIRECTOR Trustee or director | 1 | $0 |
| TIM SCOTT | DIRECTOR Trustee or director | 1 | $0 |
| SUREEL SHETH | DIRECTOR Trustee or director | 1 | $0 |
| RICK VALENCIA | DIRECTOR Trustee or director | 1 | $0 |
| MARY WALSHOK | DIRECTOR Trustee or director | 1 | $0 |
| ANDY BALLESTER | CHAIR Officer | 2 | $0 |
| JAMES MACKAY | CFO/TREASURER Officer | 1 | $0 |
| ERIC OTTERSON | SECRETARY Officer | 1 | $0 |
990 for the year ended June 30, 2024: 3 people
| Name | Title | Hours / week | Compensation |
|---|---|---|---|
| MICHAEL KRENN | CEO Officer | 0 | $0 |
| CHRISTIOAN SALAMAN | SECRETARY Officer | 0 | $0 |
| ERIC OTTERSON | CFO Officer | 0 | $0 |
Address and contacts
- Address (IRS master file)
- 1100 MARKET STREET 441, SAN DIEGO, CA 92101-7420
- In care of
- % MICHAEL KRENN
- Mailing address (990-N for 2022)
- 9605 SCRANTON ROAD STE 110, SAN DIEGO CA 92121
- Principal officer (990 for 2024)
- DAVID TITUS, 1100 MARKET STREET 441, SAN DIEGO, CA 92101
- Principal officer (990-N for 2022)
- MICHAEL KRENN, 9605 SCRANTON ROAD STE 110, SAN DIEGO CA 92121
- Signed the 990
- DAVID TITUS, SIGNING OFFICER
- Phone
- (858) 449-0345
- Return prepared by
- SWENSON ADVISORS LLP
California records
California keeps its own records of charities and corporations. Search them by EIN 87-1337572 or by the name TL FOUNDATION.
- Attorney General, Registry of Charities and Fundraisers
- Registration status and filed reports (CT-TR-1, RRF-1)
- Secretary of State, bizfile Online
- Corporation status, entity number, agent for service
- Franchise Tax Board
- Entity status letter (state tax exemption, good standing)
Mission
THE SPECIFIC AND PRIMARY PURPOSE OF THIS CORPORATION IS TO SUPPORT THE FURTHERANCE OF ECONOMIC DEVELOPMENT IN THE GREATER SAN DIEGO AREA PARTICULARLY IN THE TECHNOLOGY AND LIFE SCIENCE STARTUP COMMUNITY AND IMPROVE THE LOCAL ECONOMY THEREIN BY PROMOTING INVESTMENT, ECONOMIC GROWTH AND BUSINESS DEVELOPMENT; CREATE A SUSTAINABLE MODEL FOR ECONOMIC GROWTH FOR THE SAN DIEGO REGION; PROVIDE JOB GROWTH AND CREATE A STRONG ECONOMIC FOUNDATION FOR THE REGIONAL COMMUNITY; FURTHER THE EFFORTS OF CONNECT FOUNDATION, A CALIFORNIA NON-PROFIT PUBLIC BENEFIT CORPORATION; AND ALLEVIATE SOME OF THE GOVERNMENTAL BURDEN OF SAN DIEGO AND MAKE OUR COMMUNITY STRONGER, MORE PRODUCTIVE AND SUSTAINABLE
Program accomplishments
- THE SPECIFIC AND PRIMARY PURPOSE OF THIS CORPORATION IS TO SUPPORT THE FURTHERANCE OF ECONOMIC DEVELOPMENT IN THE GREATER SAN DIEGO AREA PARTICULARLY IN THE TECHNOLOGY AND LIFE SCIENCE STARTUP COMMUNITY AND IMPROVE THE LOCAL ECONOMY THEREIN BY PROMOTING INVESTMENT, ECONOMIC GROWTH AND BUSINESS DEVELOPMENT; CREATE A SUSTAINABLE MODEL FOR ECONOMIC GROWTH FOR THE SAN DIEGO REGION; PROVIDE JOB GROWTH AND CREATE A STRONG ECONOMIC FOUNDATION FOR THE REGIONAL COMMUNITY; FURTHER THE EFFORTS OF CONNECT FOUNDATION, A CALIFORNIA NON-PROFIT PUBLIC BENEFIT CORPORATION; AND ALLEVIATE SOME OF THE GOVERNMENTAL BURDEN OF SAN DIEGO AND MAKE OUR COMMUNITY STRONGER, MORE PRODUCTIVE AND SUSTAINABLEExpenses $90,000
- INTEREST INCOMErevenue $17,787
What it must file and when
IRS records say it files Form 990 or 990-EZ. Based on its last return; a smaller organization may file the 990-N. Its accounting year ends in June, so each return is due on the 15th day of the 5th month after that.
| Tax year | Year ended | Due | IRS public records |
|---|---|---|---|
| 2025 | June 30, 2026 | November 16, 2026 | Not due yet |
| 2024 | June 30, 2025 | November 17, 2025 | 990 on file |
| 2023 | June 30, 2024 | November 15, 2024 | 990 on file |
IRS record
- EIN
- 87-1337572
- Tax-exempt status
- 501(c)(3): Charitable, religious, educational or scientific organization
- Foundation status
- Publicly supported organization (170(b)(1)(A)(vi))
- Donations deductible (Pub 78)
- Public charity, 50% deduction limit
- Exempt since
- 2022
- Accounting year ends
- June
- Files
- Form 990 or 990-EZ
- Category (NTEE)
- Community improvement and capacity building (S30)
- Assets (IRS master file)
- $905,298
- Income (IRS master file)
- $127,787
Filing history
| Form | Year ended | Revenue | Expenses | Assets | Return |
|---|---|---|---|---|---|
| 990 | June 2025 | $127,787 | $100,067 | $905,298 | XML |
| 990 | June 2024 | $1,021,296 | $142,632 | $892,828 | XML |
| 990-N for 2022 Officer: MICHAEL KRENN | June 30, 2023 | ≤ $50,000 receipts | – | – | e-Postcard |
990-N: the IRS bulk file holds only the latest e-Postcard per organization; earlier years come from archived copies of that file since 2020 and can have gaps (the IRS e-Postcard search lists every one). 990, 990-EZ, 990-PF, 990-T: every e-filed return in the IRS e-file index since 2019; XML for the latest three processing years, amounts from the IRS Statistics of Income extracts before that. PDF copies and determination letters at the IRS (search EIN 87-1337572).
Questions about TL FOUNDATION
- What is the EIN of TL FOUNDATION?
- The employer identification number (EIN) of TL FOUNDATION is 87-1337572.
- Is TL FOUNDATION tax-exempt?
- Yes. The IRS lists it as tax-exempt under section 501(c)(3) since 2022.
- Are donations to TL FOUNDATION tax-deductible?
- Yes. It is listed in IRS Publication 78 (Public charity, 50% deduction limit).
- Which annual return does TL FOUNDATION file?
- Form 990 or 990-EZ. Based on its last return; a smaller organization may file the 990-N.
- When is the next return of TL FOUNDATION due?
- The return for tax year 2025 (the year ending June 30, 2026) is due November 16, 2026. Form 8868 extends it by six months; the 990-N cannot be extended.
- When did TL FOUNDATION last file with the IRS?
- The latest return in the IRS public files is the 990 for the year ended June 2025.
- Who is the principal officer of TL FOUNDATION?
- The 990 for the year ended June 30, 2025 names DAVID TITUS.
- Who are the officers and directors of TL FOUNDATION?
- The 990 for the year ended June 30, 2025 lists 8 people; 0 received compensation from the organization.
- How much revenue does TL FOUNDATION have?
- On its 990 for the year ended June 30, 2025 it reported revenue of $127,787, expenses of $100,067 and total assets of $905,298 at year end.
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All nonprofits in SAN DIEGO · California · Community improvement and capacity building