Webb Schools Real Estate Fund in Claremont, California (CA)

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Webb Schools Real Estate Fund
Employer Identification Number (EIN)201554974
Name of OrganizationWebb Schools Real Estate Fund
In Care of NameWebb Schools
Address1175 W Baseline Rd, Claremont, CA 91711-2146
SubsectionCharitable Organization
Ruling Date05/2006
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$1,000,000 to $4,999,999
Income$1,000,000 to $4,999,999
Filing Requirement990 (all other) or 990EZ return
Asset Amount$2,688,000
Amount of Income$1,982,100
Form 990 Revenue Amount$1,982,100
National Taxonomy of Exempt Entities (NTEE)Educational Institutions and Related Activities: Single Organization Support


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Amount of income in 2012: $1,982,100
Webb Schools Real Estate Fund: 

 $1,982,100
Other organizations performing similar types of work: 

 $75,018

Assets in 2012: $2,688,000
This organization: 

 $2,688,000
Other organizations performing similar types of work: 

 $35,071

Expenses in 2006: $5,840,310
This organization: 

 $5,840,310
Other organizations performing similar types of work: 

 $272,162

Income to expenses ratio in 2006: 0.1
Webb Schools Real Estate Fund: 

 0.1
Other organizations performing similar types of work: 

 1.2

Expenses allocated to program services in 2006: 99.6%
This organization: 

 99.6%
Other organizations performing similar types of work: 

 91.6%

Grants share in income in 2006: 221.3%
This organization: 

 221.3%
Other organizations performing similar types of work: 

 16.6%

Financial snapshot ($)

Revenue for 2006

Assets at end of 2006

Expenses for 2006

Functional Expenses for 2006 ($)

Revenue, Expenses, and Changes in Net Assets or Fund Balances
20052006
Total revenue$6,553,701$542,250
Contributions, gifts, grants, and similar amounts received$6,540,000$1,200,000
Contributions to donor advised funds$0
Direct public support$6,540,000$1,200,000
Indirect public support$0$0
Government contributions (grants)$0$0
Program service revenue including government fees and contracts$0$0
Membership dues and assessments$0$0
Interest on savings and temporary cash investments$0$0
Dividends and interest from securities$0$0
Net rental income or (loss)$0$0
Gross rents$0$0
Less: rental expenses$0$0
Other investment income$2,417$7,250
Gain or (loss) from sales of assets other than inventory$0$-665,000
Gross amount from sales of assets other than inventory$0$6,575,000
Less: cost or other basis and sales expenses$0$7,240,000
Net income or (loss) from special events and activities$0$0
Gross revenue$0$0
Less: direct expenses other than fundraising expenses$0$0
Gross profit or (loss) from sales of inventory$0$0
Gross sales of inventory, less returns and allowances$0$0
Less: cost of goods sold$0$0
Other revenue$11,284$0
Total expenses$53,653$5,840,310
Program services$12,279$5,815,356
Management and general$11,284$1,856
Fundraising$30,090$23,098
Payments to affiliates$0$0
Net assets or fund balances at end of year$6,500,824$1,202,764
Excess or (deficit) for the year$6,500,048$-5,298,060
Net assets or fund balances at beginning of year$776$6,500,824
Other changes in net assets or fund balances$0$0
Statement of Functional Expenses (for 2006)
TotalProgram servicesManagement and generalFundraising
Total functional expenses$5,840,310$5,815,356$1,856$23,098
Grants paid from donor advised funds$0
Other grants and allocations$5,480,930
Specific assistance to individuals$0
Benefits paid to or for members$0
Compensation of current officers, directors, key employees, etc.$0$0$0$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$949$0$949$0
Legal fees$21,438$0$907$20,531
Supplies$0$0$0$0
Telephone$0$0$0$0
Postage and shipping$0$0$0$0
Occupancy$49,625$49,625$0$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.$0$0$0$0
Other expenses not covered above$287,368$284,801$0$2,567
Balance Sheets
20052006
Total assets$7,715,000$1,638,740
Cash - non-interest-bearing$0$0
Savings and temporary cash investments$0$0
Accounts receivable less allowance for doubtful accounts$0$0
Pledges receivable less allowance for doubtful accounts$0$0
Grants receivable$0$0
Receivables from current and former officers, directors, trustees, and key employees$0$0
Receivables from other disqualified persons (as defined under section 4958(f)(1)) and persons described in section 4958(c)(3)(B)$0
Other notes and loans receivable less allowance for doubtful accounts$475,000$425,000
Inventories for sale or use$0$0
Prepaid expenses and deferred charges$0$0
Investments - publicly-traded securities$0
Investments - other securities$0$0
Investments - land, buildings, and equipment less accumulated depreciation$0$0
Investments - other$7,240,000$1,200,000
Land, buildings, and equipment less accumulated depreciation$0$0
Other assets, including program-related investments$0$13,740
Total liabilities$1,214,176$435,976
Accounts payable and accrued expenses$0$20,643
Grants payable$0$0
Deferred revenue$0$0
Loans from officers, directors, trustees, and key employees$0$0
Tax-exempt bond liabilities$0$0
Mortgages and other notes payable$1,172,583$415,333
Other liabilities$41,593$0
Total liabilities and net assets/fund balances$7,715,000$1,638,740
Total net assets or fund balances$6,500,824$1,202,764
Reconciliation of Revenue per Audited Financial Statements With Revenue per Return
20052006
Total revenue$6,553,701$542,250
Total revenue, gains, and other support per audited financial statements$6,553,701$542,250
Other expenses$0$0
Net unrealized gains on investments$0$0
Donated services and use of facilities$0$0
Recoveries of prior year grants$0$0
Other$0$0
Other revenue$0$0
Investment expenses$0$0
Other$0$0
Reconciliation of Expenses per Audited Financial Statements With Expenses per Return
20052006
Total expenses$53,653$5,840,310
Total expenses and losses per audited financial statements$53,653$359,380
Other revenue$0$0
Donated services and use of facilities$0$0
Prior year adjustments$0$0
Losses$0$0
Other$0$0
Other expenses$0$5,480,930
Investment expenses$0$0
Other$0$5,480,930
Current Officers, Directors, Trustees, and Key Employees
Total number of officers, directors, and trustees permitted to vote on organization business at board meetings7
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?Yes
Does the organization have a written conflict of interest policy?Yes
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)?Yes
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 2006)
Unrelated business incomeExcluded by section 512, 513, or 514Related or exempt function income
Business codeAmountExclusion codeAmount
Total$0$0$-657,750
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$0
Dividends and interest from securities000000$000$0$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$7,250
Gain or (loss) from sales of assets other than inventory000000$000$0$-665,000
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 2006)
EIN of corporation, partnership, or disregarded entityPercentage of ownership interestTotal incomeEnd-of-year assets
99999999980%$0$1,500,000
0%$0$0
0%$0$0
0%$0$0
Compensation of the Five Highest Paid Employees Other Than Officers, Directors, and Trustees (for 2006)
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 2006)
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 organizationType I
Support Schedule
20042005
Total$0$0
Gifts, grants, and contributions received$0$0
Membership fees received$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
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
Net income from unrelated business activities not included above$0$0
Tax revenues levied for the organization's benefit and either paid to it or expended on its behalf$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
Other income$0$0
Lobbying Expenditures by Electing Public Charities (for 2006)
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 2011)
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 2011)
Total revenue$0
Statement of Functional Expenses (for 2011)
Total functional expenses$1,750
Compensation of current officers, directors, trustees, and key employees$0
Other salaries and wages$0
Payroll taxes$0
Professional fundraising services$0
Other$1,750
Balance Sheet (for 2011)
Total assets$1,200,000
Total liabilities$7,470
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$7,470
Total net assets or fund balances$1,192,530
Retained earnings, endowment, accumulated income, or other funds$0
Reason for Public Charity Status (for 2011)
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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4In Christo Vera EducatioPO BOX 661525, Arcadia, CA 91066-1525CA1960-06$3,092,702
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6San Ramon Valley Unified School District Financing Corporation699 Old Orchard Drive, Danville, CA 94526CA$1,983,273
7Webb Schools Real Estate Fund1175 W Baseline Rd, Claremont, CA 91711-2146CA2006-05$1,982,100
8Legacy Fund1010 N Main St, Santa Ana, CA 92701-3602CA2004-03$1,267,199
9Ross School FoundationPO BOX 582, Ross, CA 94957-0582CA1982-10$1,003,131
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11Ripon Christian Schools Foundation435 Maple Ave, Ripon, CA 95366-2332CA2009-03$830,527
12Whitter City School District Financing Corporation7211 Whittier Ave, Whittier, CA 90602-1123CA1998-10$577,248
13Jurupa School Facilities Corporation4850 Pedley Rd, Jurupa Valley, CA 92509CA2000-06$552,156
14Santa Clara County Board Of Education Finance Corp1290 Ridder Park Dr, San Jose, CA 95131-2304CA1996-02$550,859
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16Santa Ynez Valley Union High School Building CorpPO BOX 398, Santa Ynez, CA 93460-0398CA1976-12$294,810
17Santa Clara Teacher Mortgage Assistance Foundation1889 Lawrence Rd, Santa Clara, CA 95051-2162CA2001-04$244,250
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21Arthur M Jawad Education Fund For Saint Joseph Notre Dame Hs1011 Chestnut St, Alameda, CA 94501-4315CA2003-03$4,951,785
22American Heritage Education Foundation1868 E Valley Pkwy, Escondido, CA 92027-2525CA2001-03$3,054,312
23Buchanan Foundation1560 N Minnewawa Ave, Clovis, CA 93619-7600CA1993-01$1,540,898
24Cabrillo Beach Boosters Incorporated3800 Stephen White Dr, San Pedro, CA 90731CA1993-03$1,402,941
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28Orinda Intermediate School Parents Club Inc80 Ivy Dr, Orinda, CA 94563-4244CA1999-12$1,100,569
29Del Rev Parents Club25 El Camino Moraga, Orinda, CA 94563-4117CA1999-09$1,022,837
30Donald N Parodi Memorial Charitable Tr 060190, Singleton Julian TteePO BOX 1641, Fremont, CA 94538-0164CA1991-11$738,335
Number of organizations performing similar types of work
Alaska18
Alabama49
Arkansas39
Arizona122
California861
Colorado125
Connecticut65
District of Columbia10
Delaware11
Florida294
Georgia234
Hawaii30
Iowa76
Idaho19
Illinois191
Indiana145
Kansas59
Kentucky109
Louisiana32
Massachusetts170
Maryland94
Maine19
Michigan168
Minnesota164
Missouri113
Mississippi43
Montana19
North Carolina196
North Dakota12
Nebraska32
New Hampshire43
New Jersey261
New Mexico41
Nevada20
New York226
Ohio298
Oklahoma82
Oregon90
Pennsylvania195
Rhode Island23
South Carolina103
South Dakota22
Tennessee155
Texas798
Utah12
Virginia170
Vermont25
Washington208
Wisconsin120
West Virginia29
Wyoming10
International7
Total6,457

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