Valley Fund Corporation in Arcadia, California (CA)

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Valley Fund Corporation
Employer Identification Number (EIN)953422022
Name of OrganizationValley Fund Corporation
Address150 N Santa Anita Ave Ste 300, Arcadia, CA 91006-3116
ActivitiesGifts, grants, or loans to other organizations
SubsectionCharitable Organization
Ruling Date11/1979
DeductibilityContributions are deductible
FoundationOrganizations operated solely for the benefit of and in conjunction with organizations described in 10 through 16 above
OrganizationCorporation
Exempt Organization StatusUnconditional Exemption
Tax Period06/2012
Assets$10,000,000 to $49,999,999
Income$1,000,000 to $4,999,999
Filing Requirement990 (all other) or 990EZ return
Asset Amount$17,416,900
Amount of Income$3,502,383
Form 990 Revenue Amount$782,761
National Taxonomy of Exempt Entities (NTEE)Human Services - Multipurpose and Other: Single Organization Support


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Amount of income in 2012: $3,502,383
This organization: 

 $3,502,383
Other organizations performing similar types of work: 

 $1,584,817

Assets in 2012: $17,416,900
Valley Fund Corporation: 

 $17,416,900
Other organizations performing similar types of work: 

 $6,331,345

Expenses in 2007: $307,192
Valley Fund Corporation: 

 $307,192
Other organizations performing similar types of work: 

 $802,551

Income to expenses ratio in 2007: 1.0
Valley Fund Corporation: 

 1.0
Other organizations performing similar types of work: 

 1.4

Expenses allocated to program services in 2007: 63.3%
This organization: 

 63.3%
Other organizations performing similar types of work: 

 79.6%

Grants share in income in 2007: 0.0%
This organization: 

 0.0%
Other organizations performing similar types of work: 

 23.9%

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$126,897$-110,787$-8,630$964,178$515,472$894,805$706,533$305,572
Contributions, gifts, grants, and similar amounts received$150,000$25,000$0$0$0$0$0$0
Contributions to donor advised funds$0$0
Direct public support$150,000$25,000$0$0$0$0$0$0
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$3,840$2,323$1,010$485$1,292$2,419$3,374$1,858
Dividends and interest from securities$465,460$472,027$437,454$419,998$444,592$419,796$441,192$477,382
Net rental income or (loss)$48,521$-1,021$1,065$5$6$297$67$240
Gross rents$133,322$11,628$13,559$12,382$12,328$9,079$8,124$5,424
Less: rental expenses$84,801$12,649$12,494$12,377$12,322$8,782$8,057$5,184
Other investment income$0$0$0$0$0$0$0$0
Gain or (loss) from sales of assets other than inventory$-540,924$-609,116$-448,159$543,690$69,582$472,293$261,900$-173,908
Gross amount from sales of assets other than inventory$3,828,918$3,622,846$2,843,804$3,342,829$2,716,907$2,966,649$2,555,752$4,320,783
Less: cost or other basis and sales expenses$4,369,842$4,231,962$3,291,963$2,799,139$2,647,325$2,494,356$2,293,852$4,494,691
Net income or (loss) from special events and activities$0$0$0$0$0$0$0$0
Gross revenue$0$0$0$0$0$0$0$0
Less: direct expenses other than fundraising expenses$0$0$0$0$0$0$0$0
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$0$0$0$0
Less: cost of goods sold$0$0$0$0$0$0$0$0
Other revenue$0$0$0$0$0$0$0$0
Total expenses$349,787$635,372$280,911$833,215$443,798$400,811$413,595$307,192
Program services$238,918$541,264$193,963$738,177$343,180$293,274$303,362$194,578
Management and general$110,869$94,108$86,948$95,038$100,618$107,537$110,233$112,614
Fundraising$0$0$0$0$0$0$0$0
Payments to affiliates$0$0$0$0$0$0$0$0
Net assets or fund balances at end of year$14,518,970$13,772,811$13,483,270$13,614,233$13,685,907$14,179,901$14,472,839$14,471,219
Excess or (deficit) for the year$-222,890$-746,159$-289,541$130,963$71,674$493,994$292,938$-1,620
Net assets or fund balances at beginning of year$14,741,860$14,518,970$13,772,811$13,483,270$13,614,233$13,685,907$14,179,901$14,472,839
Other changes in net assets or fund balances$0$0$0$0$0$0$0$0
Statement of Functional Expenses (for 2007)
TotalProgram servicesManagement and generalFundraising
Total functional expenses$307,192$194,578$112,614$0
Grants paid from donor advised funds$0
Other grants and allocations$100,000
Specific assistance to individuals$0
Benefits paid to or for members$0
Compensation of current officers, directors, key employees, etc.$16,800$0$16,800$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$0$0$0$0
Pension plan contributions not included above$0$0$0$0
Employee benefits not included above$0$0$0$0
Payroll taxes$0$0$0$0
Professional fundraising fees$0$0$0$0
Accounting fees$9,050$0$9,050$0
Legal fees$0$0$0$0
Supplies$0$0$0$0
Telephone$0$0$0$0
Postage and shipping$0$0$0$0
Occupancy$3,162$0$3,162$0
Equipment rental and maintenance$0$0$0$0
Printing and publications$0$0$0$0
Travel$0$0$0$0
Conferences, conventions, and meetings$0$0$0$0
Interest$0$0$0$0
Depreciation, depletion, etc.$89,005$89,005$0$0
Other expenses not covered above$89,175$5,573$83,602$0
Balance Sheets
20002001200220032004200520062007
Total assets$14,773,185$14,066,779$13,816,367$13,614,233$13,685,907$14,179,901$14,472,839$14,471,219
Cash - non-interest-bearing$0$0$0$0$0$0$0$0
Savings and temporary cash investments$187,739$102,007$141,713$100,195$77,638$87,178$52,847$92,438
Accounts receivable less allowance for doubtful accounts$80,881$46,238$39,457$42,155$43,720$43,354$49,192$61,777
Pledges receivable less allowance for doubtful accounts$0$0$0$0$0$0$0$0
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$1,140,861$1,176,813$1,215,943$0$0$0$0$0
Inventories for sale or use$0$0$0$0$0$0$0$0
Prepaid expenses and deferred charges$0$0$0$0$0$0$0$0
Investments - publicly-traded securities$13,006,305$13,046,698
Investments - other securities$11,556,016$10,878,170$10,657,202$11,811,213$12,005,206$12,586,313$0$0
Investments - land, buildings, and equipment less accumulated depreciation$0$0$0$0$0$0$0$0
Investments - other$0$0$0$0$0$0$0$0
Land, buildings, and equipment less accumulated depreciation$1,807,688$1,863,551$1,762,052$1,660,670$1,559,343$1,463,056$1,364,495$1,270,306
Other assets, including program-related investments$0$0$0$0$0$0$0$0
Total liabilities$254,215$293,968$333,097$0$0$0$0$0
Accounts payable and accrued expenses$0$0$0$0$0$0$0$0
Grants payable$0$0$0$0$0$0$0$0
Deferred revenue$254,215$293,968$333,097$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$14,773,185$14,066,779$13,816,367$13,614,233$13,685,907$14,179,901$14,472,839$14,471,219
Total net assets or fund balances$14,518,970$13,772,811$13,483,270$13,614,233$13,685,907$14,179,901$14,472,839$14,471,219
Reconciliation of Revenue per Audited Financial Statements With Revenue per Return
20002001200220032004200520062007
Total revenue$0$0$0$0$0$0$0$0
Total revenue, gains, and other support per audited financial statements$0$0$0$0$0$0$0$0
Other expenses$0$0$0$0$0$0$0$0
Net unrealized gains on investments$0$0$0$0$0$0$0$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$0
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$0$0$0$0$0$0$0$0
Total expenses and losses per audited financial statements$0$0$0$0$0$0$0$0
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
12$16,800$0$0
Total number of officers, directors, and trustees permitted to vote on organization business at board meetings4
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?Yes
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?Yes
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?Yes
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, 20060
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$0$305,572
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$000$0$1,858
Dividends and interest from securities000000$000$0$477,382
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$240
Other investment income000000$000$0$0
Gain or (loss) from sales of assets other than inventory000000$000$0$-173,908
Net income or (loss) from special events000000$000$0$0
Gross profit or (loss) from sales of inventory000000$000$0$0
Other revenue000000$000$0$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
$0$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 isNot controlled by disqualified persons/supports non private foundation
Type of supporting organization4
Information about the supported organizations
Employer identification number (EIN)Name of organizationType of organizationIs the supported organization listed in the supporting organization's governing documents?Amount of support
953892607San Gabriel Valley Training Center Residential FacilityYes$194,578
Total$194,578
Support Schedule
19992000200120022003200420052006
Total$0$0$0$0$0$0$0$0
Gifts, grants, and contributions received$0$0$0$0$0$0$0$0
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$0$0$0$0$0$0$0$0
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
Statements Regarding Other IRS Filings and Tax Compliance (for 2012)
Did the organization have unrelated business gross income of $1,000 or more during the year?No
Initiation fees and capital contributions$0
Gross receipts for public use of club facilities $0
Gross income from members or shareholders$0
Gross income from other sources$0
Statement of Revenue (for 2012)
Total revenue$782,761
Contributions, Gifts, Grants and Other Similar Amounts$0
Program Service Revenue$0
Other Revenue
Investment income (including dividends, interest, and other similar amounts)$485,904
Income from investment of tax-exempt bond proceeds$0
Royalties$0
Net rental income$0
Gross rents (Real / Personal)$1,397 / $0
Less: rental expenses (Real / Personal)$0 / $1,397
Rental income or (loss) (Real / Personal)$0 / $0
Net gain from sales of assets other than inventory$296,857
Gross amount from sales of assets other than inventory (Securities / Other)$3,015,082 / $0
Less: cost or other basis and sales expenses (Securities / Other)$2,718,225 / $0
Gain or (loss) (Securities / Other)$296,857 / $0
Net income from fundraising events$0
Net income from gaming activities$0
Net income from sales of inventory$0
Miscellaneous Revenue$0
Statement of Functional Expenses (for 2012)
Total functional expenses$455,154
Compensation of current officers, directors, trustees, and key employees$17,400
Other salaries and wages$0
Payroll taxes$0
Professional fundraising services$0
Other$437,754
Balance Sheet (for 2012)
Total assets$17,416,900
Total liabilities$1,901,080
Tax-exempt bond liabilities$0
Secured mortgages and notes payable to unrelated third parties$0
Unsecured notes and loans payable to unrelated third parties$0
Other$1,901,080
Total net assets or fund balances$15,515,820
Retained earnings, endowment, accumulated income, or other funds$15,515,820
Reason for Public Charity Status (for 2012)
The organization is not a private foundation because it is:An organization organized and operated exclusively for the benefit of, to perform the functions of, or to carry out the purposes of one or more publicly supported organizations described in section 509(a)(1) or section 509(a)(2)
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Organizations performing similar types of work
IdNameAddressStateEstablishedTotal Income
1Father Flanagans Fund For Needy Children14100 Crawford St, Boys Town, NE 68010-7520NE1990-01$1,697,492,629
2Far Northern Coordinating Council On Developmental DisabilitiesPO BOX 492418, Redding, CA 96049-2418CA1970-12$110,278,570
3Cal Farleys Boys Ranch FoundationPO BOX 1890, Amarillo, TX 79174-0001TX1964-05$100,809,436
4Minnesota Masonic Charities Funds11501 Masonic Home Drive, Bloomington, MN 55437-3661MN1984-11$54,990,897
5Indiana Masonic Home Foundation IncorporatedPO BOX 44210, Indianapolis, IN 46244-0210IN1960-07$52,825,189
6Jewish Home And Care Center Foundation Inc1414 N Prospect Ave, Milwaukee, WI 53202-3018WI1987-01$51,742,567
7Sisters Of Charity Foundation Of Canton2475 E 22nd St, Cleveland, OH 44115-3221OH1946-03$40,758,429
8Dakota Boys And Girls Ranch FoundationPO BOX 5007, Minot, ND 58702-5007ND1971-11$23,203,374
9Youth Villages Foundation Inc3320 Brother Blvd, Bartlett, TN 38133-8950TN1996-11$22,648,450
10Valley Fund Corporation150 N Santa Anita Ave Ste 300, Arcadia, CA 91006-3116CA1979-11$3,502,383
11Mckinley Home Foundation762 Cypress St, San Dimas, CA 91773-3505CA1958-11$2,435,935
12Alexander House FoundationPO BOX 23642, Santa Barbara, CA 93121-3642CA1940-08$1,622,256
13Rancho San Antonio Guild21000 Plummer St, Chatsworth, CA 91311-4903CA1954-06$1,584,817
14General & Mrs Curtis E Lemay Foundation17050 Arnold Drive, Riverside, CA 92518-2806CA1989-01$1,177,554
15The Colleagues3312 Pico Blvd, Santa Monica, CA 90405-2116CA1951-11$901,950
16Community Projects Inc715 Franklin St, Napa, CA 94559-2920CA1953-01$648,611
17Eimago Inc545 S San Pedro St, Los Angeles, CA 90013-2101CA1992-07$64,000
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19Childrens Home Of Stockton FoundationPO BOX 201068, Stockton, CA 95201-3068CA1982-07$2,927,508
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Number of organizations performing similar types of work
Alaska1
Arizona3
California12
Colorado2
Connecticut2
Florida6
Georgia2
Iowa5
Idaho1
Illinois9
Indiana6
Kansas2
Kentucky2
Louisiana1
Massachusetts1
Michigan4
Minnesota4
Missouri3
Mississippi2
North Carolina3
North Dakota1
Nebraska2
New Hampshire1
New Jersey1
New York6
Ohio7
Oklahoma1
Oregon1
Pennsylvania14
South Carolina4
Tennessee2
Texas11
Virginia3
Washington1
Wisconsin5
Total131

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