Monterey Peninsula Foundation

Analysis

Monterey Peninsula Foundation is a registered charity in United States, based in Monterey, CA. It received its IRS tax-exemption ruling in October 2015, 11 years ago. Its declared purposes cover philanthropy, voluntarism and grantmaking foundations, which this site groups under grant-making and general purposes. The IRS classifies it as a publicly supported organisation (gross receipts test) under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending June 2023, Monterey Peninsula Foundation reported income of $44.9m and spending of $50.2m, spending 112% of what it took in. Across the 4 years on record, from June 2020 to June 2023, income grew from $38.8m to $44.9m (+16%), an average of +4.9% a year. The sharpest change came in the year to June 2022, when income rose by 64%. Over the whole period it spent 102% of the income it received.

Among 19,413 United States charities whose main cause is grant-making and general purposes and that reported income, Monterey Peninsula Foundation sits at the 99th percentile: it is larger than about 99% of them. Against every charity in United States with reported income it ranks in the 99th percentile, and in the 99th percentile within CA. Charities of a similar size with the same main cause include Omaha Community Foundation Donor Directed Depository ($44.7m), Innovia Foundation ($45.0m) and United Way of Middle Tennessee Inc ($44.6m).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 43% and program service revenue 58% of the total. Compensation of current officers, directors and key employees was $760k (1.5% of expenses). Other salaries and wages came to $1.2m. At year end it held assets of $46.9m against liabilities of $7.0m, net assets of $39.9m. It reported 20 employees.