Hillsborough Schools Foundation in Hillsborough, California (CA)

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Hillsborough Schools Foundation
Employer Identification Number (EIN)942634550
Name of OrganizationHillsborough Schools Foundation
Address300 El Cerrito Ave, Hillsborough, CA 94010-6818
ActivitiesDescribed in section 170(b)1)(a)(vi) of the Code
SubsectionCharitable Organization
Ruling Date04/1980
DeductibilityContributions are deductible
FoundationOrganization which receives a substantial part of its support from a governmental unit or the general public
OrganizationCorporation
Exempt Organization StatusUnconditional Exemption
Tax Period06/2010
Assets$5,000,000 to $9,999,999
Income$5,000,000 to $9,999,999
Filing Requirement990 (all other) or 990EZ return
Asset Amount$8,102,897
Amount of Income$5,065,595
Form 990 Revenue Amount$3,614,156
National Taxonomy of Exempt Entities (NTEE)Educational Institutions and Related Activities: Fund Raising and/or Fund Distribution


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Amount of income in 2010: $5,065,595
Hillsborough Schools Foundation: 

 $5,065,595
Other organizations performing similar types of work: 

 $1,538,865

Assets in 2010: $8,102,897
Hillsborough Schools Foundation: 

 $8,102,897
Other organizations performing similar types of work: 

 $5,292,069

Expenses in 2007: $3,837,327
Hillsborough Schools Foundation: 

 $3,837,327
Other organizations performing similar types of work: 

 $2,182,028

Income to expenses ratio in 2007: 1.0
Hillsborough Schools Foundation: 

 1.0
Other organizations performing similar types of work: 

 1.1

Expenses allocated to program services in 2007: 87.5%
This organization: 

 87.5%
Other organizations performing similar types of work: 

 85.4%

Number of employees in 2007: 4
This organization: 

 4
Other organizations performing similar types of work: 

 5

Employees paid over $50,000 in 2007: 50.0%
Hillsborough Schools Foundation: 

 50.0%
Other organizations performing similar types of work: 

 26.3%

Grants share in income in 2007: 89.4%
Hillsborough Schools Foundation: 

 89.4%
Other organizations performing similar types of work: 

 7.4%

Financial snapshot ($)

Revenue for 2007

Assets at end of 2007

Expenses for 2007

Functional Expenses for 2007 ($)

Income-Producing Activities for 2007

Revenue, Expenses, and Changes in Net Assets or Fund Balances
20002001200220032004200520062007
Total revenue$2,313,289$2,343,213$2,546,945$2,553,350$3,440,441$3,962,854$3,960,454$3,872,495
Contributions, gifts, grants, and similar amounts received$2,115,703$2,157,287$2,399,748$2,529,354$3,036,127$3,521,680$3,485,148$3,463,395
Contributions to donor advised funds$0$0
Direct public support$2,115,703$2,157,287$2,399,748$2,529,354$3,036,127$3,521,680$3,485,148$3,463,395
Indirect public support$0$0$0$0$0$0$0$0
Government contributions (grants)$0$0$0$0$0$0$0$0
Program service revenue including government fees and contracts$0$0$0$0$0$0$0$0
Membership dues and assessments$0$0$0$0$0$0$0$0
Interest on savings and temporary cash investments$114,419$55,666$31,723$8,846$49,609$120,514$148,174$136,358
Dividends and interest from securities$22,653$117,493$89,806$71,601$130,248$199,345$224,813$296,520
Net rental income or (loss)$0$0$0$0$0$0$0$0
Gross rents$0$0$0$0$0$0$0$0
Less: rental expenses$0$0$0$0$0$0$0$0
Other investment income$0$0$0$0$0$0$0$0
Gain or (loss) from sales of assets other than inventory$60,514$12,767$25,668$-56,451$28,091$28,124$-5,760$-85,073
Gross amount from sales of assets other than inventory$1,726,922$114,000$90,572$350,000$1,062,318$1,057,843$317,345$699,638
Less: cost or other basis and sales expenses$1,666,408$101,233$64,904$406,451$1,034,227$1,029,719$323,105$784,711
Net income or (loss) from special events and activities$0$0$0$0$137,179$-30,958$-12,588$-42,613
Gross revenue$0$0$0$0$407,734$262,414$287,056$316,662
Less: direct expenses other than fundraising expenses$0$0$0$0$270,555$293,372$299,644$359,275
Gross profit or (loss) from sales of inventory$0$0$0$0$0$0$0$0
Gross sales of inventory, less returns and allowances$0$0$0$0$201,512$0$0$0
Less: cost of goods sold$0$0$0$0$201,512$0$0$0
Other revenue$0$0$0$0$59,187$124,149$120,667$103,908
Total expenses$1,842,380$2,141,119$2,496,870$2,439,718$3,536,172$3,658,868$3,797,576$3,837,327
Program services$1,591,700$1,886,000$2,170,000$2,100,000$3,112,000$3,201,200$3,356,200$3,356,200
Management and general$165,256$193,122$211,710$232,679$327,947$363,676$343,235$403,083
Fundraising$85,424$61,997$115,160$107,039$96,225$93,992$98,141$78,044
Payments to affiliates$0$0$0$0$0$0$0$0
Net assets or fund balances at end of year$3,517,164$3,408,628$3,481,126$3,989,435$4,522,842$4,975,769$5,533,623$5,130,241
Excess or (deficit) for the year$470,909$202,094$50,075$113,632$-95,731$303,986$162,878$35,168
Net assets or fund balances at beginning of year$4,626,945$3,517,164$3,408,628$3,481,126$3,989,435$4,522,842$4,975,769$5,533,623
Other changes in net assets or fund balances$-1,580,690$-310,630$22,423$394,677$629,138$148,941$394,976$-438,550
Statement of Functional Expenses (for 2007)
TotalProgram servicesManagement and generalFundraising
Total functional expenses$3,837,327$3,356,200$403,083$78,044
Grants paid from donor advised funds$0
Other grants and allocations$3,356,200
Specific assistance to individuals$0
Benefits paid to or for members$0
Compensation of current officers, directors, key employees, etc.$125,585$0$125,585$0
Compensation of former officers, directors, key employees, etc.$0$0$0$0
Compensation and other distributions, not included above, to disqualified persons (as defined under section 4958(f)(1)) and persons described in section 4958(c)(3)(B)$0$0$0$0
Salaries and wages of employees not included above$163,187$0$163,187$0
Pension plan contributions not included above$0$0$0$0
Employee benefits not included above$0$0$0$0
Payroll taxes$21,277$0$21,277$0
Professional fundraising fees$0$0$0$0
Accounting fees$26,621$0$26,621$0
Legal fees$1,987$0$1,987$0
Supplies$8,920$0$7,652$1,268
Telephone$3,213$0$3,213$0
Postage and shipping$2,436$0$98$2,338
Occupancy$0$0$0$0
Equipment rental and maintenance$0$0$0$0
Printing and publications$36,279$0$2,998$33,281
Travel$0$0$0$0
Conferences, conventions, and meetings$0$0$0$0
Interest$0$0$0$0
Depreciation, depletion, etc.$2,155$0$2,155$0
Other expenses not covered above$89,467$0$48,310$41,157
Balance Sheets
20002001200220032004200520062007
Total assets$5,123,535$5,297,253$5,653,836$6,096,718$7,649,012$8,187,974$8,894,693$8,501,936
Cash - non-interest-bearing$0$0$0$0$0$0$0$0
Savings and temporary cash investments$2,382,410$2,613,779$2,228,733$2,609,051$3,779,562$3,923,639$3,992,028$3,698,134
Accounts receivable less allowance for doubtful accounts$0$0$0$0$0$3,441$1,500$8,000
Pledges receivable less allowance for doubtful accounts$67,765$78,071$76,090$167,957$122,655$241,881$178,961$123,576
Grants receivable$0$0$0$0$0$0$0$0
Receivables from current and former officers, directors, trustees, and key employees$0$0$0$0$0$0$0$0
Receivables from other disqualified persons (as defined under section 4958(f)(1)) and persons described in section 4958(c)(3)(B)$0$0
Other notes and loans receivable less allowance for doubtful accounts$0$0$0$0$0$0$0$0
Inventories for sale or use$0$0$0$0$0$5,702$0$0
Prepaid expenses and deferred charges$2,121$2,566$1,602$1,883$13,990$21,463$1,321$2,334
Investments - publicly-traded securities$4,716,084$4,663,792
Investments - other securities$2,631,738$2,578,306$3,326,281$3,312,426$1,814$3,976,951$0$0
Investments - land, buildings, and equipment less accumulated depreciation$0$0$0$0$3,702,877$0$0$0
Investments - other$0$0$0$0$0$0$0$0
Land, buildings, and equipment less accumulated depreciation$8,418$8,954$6,074$3,194$7,611$5,859$4,059$3,907
Other assets, including program-related investments$31,083$15,577$15,056$2,207$20,503$9,038$740$2,193
Total liabilities$1,606,371$1,888,625$2,172,710$2,107,283$3,126,170$3,212,205$3,361,070$3,371,695
Accounts payable and accrued expenses$15,371$2,625$2,710$7,283$15,170$11,005$4,870$15,495
Grants payable$1,591,000$1,886,000$2,170,000$2,100,000$3,111,000$3,201,200$3,356,200$3,356,200
Deferred revenue$0$0$0$0$0$0$0$0
Loans from officers, directors, trustees, and key employees$0$0$0$0$0$0$0$0
Tax-exempt bond liabilities$0$0$0$0$0$0$0$0
Mortgages and other notes payable$0$0$0$0$0$0$0$0
Other liabilities$0$0$0$0$0$0$0$0
Total liabilities and net assets/fund balances$5,123,535$5,297,253$5,653,836$6,096,718$7,649,012$8,187,974$8,894,693$8,501,936
Total net assets or fund balances$3,517,164$3,408,628$3,481,126$3,989,435$4,522,842$4,975,769$5,533,623$5,130,241
Reconciliation of Revenue per Audited Financial Statements With Revenue per Return
20002001200220032004200520062007
Total revenue$2,313,289$2,343,213$2,546,945$2,553,350$3,440,441$3,962,854$3,960,454$3,872,495
Total revenue, gains, and other support per audited financial statements$1,942,599$2,032,583$2,569,368$2,948,027$3,562,995$4,111,795$4,355,430$3,433,945
Other expenses$-370,690$-310,630$22,423$394,677$122,554$148,941$394,976$-438,550
Net unrealized gains on investments$-370,690$-310,630$22,423$394,677$122,554$148,941$394,976$0
Donated services and use of facilities$0$0$0$0$0$0$0$0
Recoveries of prior year grants$0$0$0$0$0$0$0$0
Other$0$0$0$0$0$0$0$-438,550
Other revenue$0$0$0$0$0$0$0$0
Investment expenses$0$0$0$0$0$0$0$0
Other$0$0$0$0$0$0$0$0
Reconciliation of Expenses per Audited Financial Statements With Expenses per Return
20002001200220032004200520062007
Total expenses$1,842,380$2,141,119$2,496,870$2,439,718$3,536,172$3,658,868$3,797,576$3,837,327
Total expenses and losses per audited financial statements$1,842,380$2,141,119$2,496,870$2,439,718$3,536,172$3,658,868$3,797,576$3,837,327
Other revenue$0$0$0$0$0$0$0$0
Donated services and use of facilities$0$0$0$0$0$0$0$0
Prior year adjustments$0$0$0$0$0$0$0$0
Losses$0$0$0$0$0$0$0$0
Other$0$0$0$0$0$0$0$0
Other expenses$0$0$0$0$0$0$0$0
Investment expenses$0$0$0$0$0$0$0$0
Other$0$0$0$0$0$0$0$0
Current Officers, Directors, Trustees, and Key Employees
Average hours per week devoted to positionCompensationContributions to employee benefit plans & deferred compensation plansExpense account and other allowances
40$125,585$0$0
Total number of officers, directors, and trustees permitted to vote on organization business at board meetings12
Are any officers, directors, trustees, or key employees listed in Form 990, Part V-A, or highest compensated employees listed in Schedule A, Part I, or highest compensated professional and other independent contractors listed in Schedule A, Part II-A or II-B, related to each other through family or business relationships?No
Do any officers, directors, trustees, or key employees listed in Form 990, Part V-A, or highest compensated employees listed in Schedule A, Part I, or highest compensated professional and other independent contractors listed in Schedule A, Part II-A or II-B, receive compensation from any other organizations, whether tax exempt or taxable, that are related to the organization?No
Does the organization have a written conflict of interest policy?No
Other Information
Did the organization have unrelated business gross income of $1,000 or more during the year covered by this return, and has it filed a tax return on Form 990-T for this year?No
Was there a liquidation, dissolution, termination, or substantial contraction during the year?No
Is the organization related (other than by association with a statewide or nationwide organization) through common membership, governing bodies, trustees, officers, etc., to any other exempt or nonexempt organization?No
Direct and indirect political expenditures$0
Did the organization file Form 1120-POL for this year?No
Were substantially all dues nondeductible by members?
Did the organization make only in-house lobbying expenditures of $2,000 or less?
Dues, assessments, and similar amounts from members$0
Section 162(e) lobbying and political expenditures$0
Aggregate nondeductible amount of section 6033(e)(1)(A) dues notices$0
Taxable amount of lobbying and political expenditures$0
Does the organization elect to pay the section 6033(e) tax on the amount above?
If section 6033(e)(1)(A) dues notices were sent, does the organization agree to add the amount above to its reasonable estimate of dues allocable to nondeductible lobbying and political expenditures for the following tax year?
Initiation fees and capital contributions$0
Gross receipts for public use of club facilities$0
At any time during the year, did the organization, directly or indirectly, own a controlled entity within the meaning of section 512(b)(13)?No
Amount of tax imposed on the organization during the year under: section 4911$0
Amount of tax imposed on the organization during the year under: section 4912$0
Amount of tax imposed on the organization during the year under: section 4955$0
Did the organization engage in any section 4958 excess benefit transaction during the year or did it become aware of an excess benefit transaction from a prior year?No
Amount of tax imposed on the organization managers or disqualified persons during the year under sections 4912, 4955, and 4958$0
Amount of tax above, reimbursed by the organization$0
At any time during the tax year, was the organization a party to a prohibited tax shelter transaction?No
Did the organization acquire a direct or indirect interest in any applicable insurance contract?No
Did the supporting organization, or a fund maintained by a sponsoring organization, have excess business holdings at any time during the year?No
Number of employees employed in the pay period that includes March 12, 20064
Analysis of Income-Producing Activities (for 2007)
Unrelated business incomeExcluded by section 512, 513, or 514Related or exempt function income
Business codeAmountExclusion codeAmount
Total$0$409,100$0
Program service revenue
Program service revenue 1000000$000$0$0
Program service revenue 2000000$000$0$0
Program service revenue 3000000$000$0$0
Program service revenue 4000000$000$0$0
Program service revenue 5000000$000$0$0
Medicare/Medicaid payments000000$000$0$0
Fees and contracts from government agencies000000$000$0$0
Membership dues and assessments000000$000$0$0
Interest on savings and temporary cash investments000000$0Dividends, interest, payments with respect to securities loans, annuities, income from notional principal contracts, loan commitment fees, and other substantially similar income from ordinary and routine investments excluded by section 512(b)(1)$136,358$0
Dividends and interest from securities000000$0Dividends, interest, payments with respect to securities loans, annuities, income from notional principal contracts, loan commitment fees, and other substantially similar income from ordinary and routine investments excluded by section 512(b)(1)$296,520$0
Net rental income or (loss) from real estate
debt-financed property000000$000$0$0
not debt-financed property000000$000$0$0
Net rental income or (loss) from personal property000000$000$0$0
Other investment income000000$000$0$0
Gain or (loss) from sales of assets other than inventory000000$0Gain (or loss, to the extent allowed) from the sale of investments and other non-inventory property and from certain property acquired from financial institutions that are in conservatorship or receivership (sections 512(b)(5) and 512(b)(16)(A))$-85,073$0
Net income or (loss) from special events000000$0Income from an activity that is not regularly carried on (section 512(a)(1))$-42,613$0
Gross profit or (loss) from sales of inventory000000$000$0$0
Other revenue000000$0Section 501(c)(12) organization - Qualified pole rental income (section 513(g)) and/or member income (described in section 501(c)(12)(H))$103,908$0
Information Regarding Taxable Subsidiaries and Disregarded Entities (for 2007)
EIN of corporation, partnership, or disregarded entityPercentage of ownership interestTotal incomeEnd-of-year assets
0%$0$0
0%$0$0
0%$0$0
0%$0$0
Compensation of the Five Highest Paid Employees Other Than Officers, Directors, and Trustees (for 2007)
CompensationContributions to employee benefit plans & deferred compensationExpense account and other allowances
$66,735$0$0
$0$0$0
$0$0$0
$0$0$0
$0$0$0
Total number of other employees paid over $50,0000
Statements About Activities (for 2007)
Expenses paid or incurred in connection with the lobbying activities$0
Did the organization receive or hold an easement for conservation purposes, including easements to preserve open space, the environment, historic land areas or historic structures?No
Did the organization provide credit counseling, debt management, credit repair, or debt negotiation services?No
Did the organization maintain any donor advised funds?No
Did the organization make any taxable distributions under section 4966?No
Did the organization make a distribution to a donor, donor advisor, or related person?No
Enter the total number of donor advised funds owned at the end of the tax year$0
Enter the aggregate value of assets held in all donor advised funds owned at the end of the tax year$0
Enter the total number of separate funds or accounts owned at the end of the tax year (excluding donor advised funds included above) where donors have the right to provide advice on the distribution or investment of amounts in such funds or accounts$0
Enter the aggregate value of assets held in all funds or accounts included above at the end of the tax year$0
Reason for Non-Private Foundation Status
The organization is not a private foundation because it isOrganization that receives a substantial part of its support from a governmental unit or from the general public
Support Schedule
19992000200120022003200420052006
Total$2,031,624$2,252,775$2,332,547$2,546,945$2,609,801$2,944,497$3,189,461$3,398,459
Gifts, grants, and contributions received$1,860,541$2,115,703$2,146,981$2,399,748$2,529,354$2,695,929$2,849,248$3,017,771
Membership fees received$0$0$0$0$0$0$0$0
Gross receipts from admissions, merchandise sold or services performed, or furnishing of facilities in any activity that is related to the organization's charitable, etc., purpose$0$0$0$0$0$0$0$0
Gross income from interest, dividends, amounts received from payments on securities loans (section 512(a)(5)), rents, royalties, and unrelated business taxable income (less section 511 taxes) from businesses acquired by the organization after June 30, 1975$171,083$137,072$185,566$147,197$80,447$248,568$340,213$380,688
Net income from unrelated business activities not included above$0$0$0$0$0$0$0$0
Tax revenues levied for the organization's benefit and either paid to it or expended on its behalf$0$0$0$0$0$0$0$0
The value of services or facilities furnished to the organization by a governmental unit without charge. Do not include the value of services or facilities generally furnished to the public without charge$0$0$0$0$0$0$0$0
Other income$0$0$0$0$0$0$0$0
Lobbying Expenditures by Electing Public Charities (for 2007)
Total exempt purpose expenditures$0
Total lobbying expenditures$0
Total lobbying expenditures to influence public opinion (grassroots lobbying)$0
Total lobbying expenditures to influence a legislative body (direct lobbying)$0
Other exempt purpose expenditures$0
Lobbying nontaxable amount$0
Grassroots nontaxable amount$0
Organizations performing similar types of work
IdNameAddressStateEstablishedTotal Income
1Nellie Mae Education Foundation Inc1250 Hancock St Ste 205n, Quincy, MA 02169-4337MA1988-09$213,126,732
2U W Eugene Higgins Charity 336710PO BOX 1802, Providence, RI 02901-1802RI1976-04$78,130,059
3Voluntary Interdistrict Choice Corporation7425 Forsyth Blvd Suite 110, St Louis, MO 63105MO1999-10$66,788,818
4The Cullen Trust For Higher Education601 Jefferson St Ste 3600, Houston, TX 77002-7906TX1979-01$63,474,387
5Davis Educational Foundation30 Forest Falls Dr Ste 5, Yarmouth, ME 04096-6983ME1985-07$55,280,357
6Miller Endowment Incorporated1350 Beardshear Iowa State, Ames, IA 50011-2038IA1996-03$52,205,850
7The Hodson Scholarship Foundation IncPO BOX 2205, Wilmington, DE 19899-2205DE1994-02$47,760,123
8Ieee Foundation Inc445 Hoes Ln, Piscataway, NJ 08854-4141NJ1973-06$45,493,875
9Bnai Brith Hillel Foundation800 Eighth Street Nw, Washington Dc, DC 20001DC1951-01$37,238,550
10Arizona Capital Facilities Finance CorporationPhoenix, AZ 85012AZ$27,551,213
11Ralph W & Grace M Showalter Research Trust FundC/O Jpmorgan Chase Banknabox 3038, Milwaukee, WI 53201WI1973-09$23,137,849
12Fund For Public Schools Inc52 Chambers St, New York, NY 10007-1222NY1984-01$19,665,837
13Caroline & Joseph S Gruss Life Monument Funds Inc45 Broadway Ste 3050, New York, NY 10006-3748NY1991-06$19,400,482
14Mr & Mrs E H Sumners FoundationPO BOX 23100, Jackson, MS 39225-3100MS1979-06$16,846,069
15Institute For Supply Management Inc2055 E Centennial Cir, Tempe, AZ 85284-1802AZ1983-01$14,667,420
16Ernst & Young Foundation5 Times Square, New York, NY 10036-6527NY1959-03$13,974,428
17Mississippi Power Education Foundation IncPO BOX 4079, Gulfport, MS 39502-4079MS1986-04$11,437,205
18Foundations Inc701 E Gate Dr Ste 300, Mount Laurel, NJ 08054-3838NJ1993-03$11,058,816
19Hillsborough Schools Foundation300 El Cerrito Ave, Hillsborough, CA 94010-6818CA1980-04$5,065,595
20Cogswell Polytechnical College1175 Bordeaux Dr, Sunnyvale, CA 94089-1210CA1984-02$3,280,159
21San Marino School Foundation1665 West Dr, San Marino, CA 91108-2558CA1980-07$3,077,030
22Hayward Schools Financing CorporationPO BOX 5000, Hayward, CA 94540-0001CA1990-10$2,649,839
23Encinitas Usd Educational Facilities CorpEncinitas, CA 92024CA$2,328,296
24Sages Education And Research Foundation11300 W Olympic Blvd Ste 600, Los Angeles, CA 90064-1663CA1998-09$1,860,805
25Chino Unified School District Capital Facilities Corporation5130 Riverside Dr, Chino, CA 91710-4130CA1988-07$1,727,910
26Beaumont Unified School District Public Facilities Corporation500 Grace Ave, Beaumont, CA 92223-2156CA1991-05$586,472
27Cabrillo Education Foundation, Back To BasicsPO BOX 354, Half Moon Bay, CA 94019-0354CA1986-06$217,279
28Educational Foundation For Black Americans4332 Cerritos Ave Ste 207, Los Alamitos, CA 90720-2557CA1985-06$46,589
29Irvine Childrens Fund14301 Yale Ave, Irvine, CA 92604-1901CA1986-08$192,129
30El Toro High School Aquatics Booster Organization18921 Vista Portola, Trabuco Cyn, CA 92679-1102CA2007-04$143,413
Number of organizations performing similar types of work
Arkansas1
Arizona2
California14
Colorado3
Connecticut1
District of Columbia4
Delaware1
Florida4
Georgia3
Iowa6
Illinois3
Indiana1
Kansas1
Kentucky2
Louisiana2
Massachusetts3
Maryland4
Maine1
Michigan3
Minnesota2
Missouri1
Mississippi2
North Carolina4
New Hampshire1
New Jersey4
New Mexico2
Nevada1
New York7
Ohio3
Oregon2
Pennsylvania2
Rhode Island2
South Dakota1
Tennessee4
Texas6
Virginia2
Vermont1
Washington4
Wisconsin5
Total115

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