REINVENT STOCKTON FOUNDATION

EIN: 821005719 501(c)(3) Community Improvement

STOCKTON, CA

Total Revenue
$6,763,777
Total Expenses
$9,813,500
Total Assets
$34,150,316
Net Assets
$33,667,422
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Financial Vulnerability Assessment (Tuckman-Chang)

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Financial Trends

Organization Details

Formation Year
2017
Legal Domicile
CA
Principal Officer
NIK HOWARD
Phone
2092594997
Tax Period
2023-01-01 to 2023-12-31

REINVENT STOCKTON FOUNDATION, founded in 2017, is a community nonprofit in the Community Improvement sector that reported $6.8M in total revenue in fiscal year 2023. Revenue surged 130% from the prior year, signaling strong growth momentum. Expenses of $9.8M exceeded revenue, resulting in a 45% operating deficit.

Mission

TO ATTRACT OUTSIDE INVESTMENT INTO THE STOCKTON COMMUNITY AND TO INVEST IN COLLECTIVE IMPACT STRATEGIES WITH TANGIBLE OUTCOMES THAT IMPROVE THE QUALITY OF LIFE IN THE CITY OF STOCKTON, CALIFORNIA.

Program Service Accomplishments

Program 1
Expenses: $4,747,396

THE STOCKTON EMPOWERMENT DEMONSTRATION (SEED) WAS BORN OUT OF THE SIMPLE BELIEF THAT THE BEST INVESTMENTS WE CAN MAKE ARE IN OUR PEOPLE. SEED SEEKS TO INVEST IN OUR PEOPLE THROUGH GUARANTEED INCOME...

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THE STOCKTON EMPOWERMENT DEMONSTRATION (SEED) WAS BORN OUT OF THE SIMPLE BELIEF THAT THE BEST INVESTMENTS WE CAN MAKE ARE IN OUR PEOPLE. SEED SEEKS TO INVEST IN OUR PEOPLE THROUGH GUARANTEED INCOME GRANTS. THIS INCOME IS UNCONDITIONAL, MEANING THERE ARE NO STRINGS ATTACHED AND NO WORK REQUIREMENTS. A HAND UP, RATHER THAN A HAND OUT, SEED SEEKS TO EMPOWER ITS RECIPIENTS FINANCIALLY AND TO PROVE TO SUPPORTERS AND SKEPTICS ALIKE THAT POVERTY RESULTS FROM A LACK OF CASH, NOT CHARACTER. BUILDING OFF OF SEED AND ROOTED IN DR. MARTIN LUTHER KING'S LEGACY, MAYORS FOR A GUARANTEED INCOME (MGI) IS A NATIONAL NETWORK OF CITY LEADERS UNITED TO ADVOCATE FOR A GUARANTEED INCOME - DIRECT, RECURRING CASH PAYMENTS - THAT LIFTS ALL OF OUR COMMUNITIES, BUILDING A RESILIANT, JUST AMERICA. IN 2023 WE GAVE OUT 13 GUARANTEED INCOME GRANTS.

Program 2
Expenses: $2,071,684

THE STOCKTON SERVICE CORPS (SSC) IS A PROJECT WHICH AIMS TO HARNESS AMERICORPS FELLOWSHIP SERVICE MODELS TO IMPROVE EDUCATIONAL OUTCOMES AND ADDRESS SOCIAL INEQUITIES IN STOCKTON. THE SSC TEAM AT RSF...

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THE STOCKTON SERVICE CORPS (SSC) IS A PROJECT WHICH AIMS TO HARNESS AMERICORPS FELLOWSHIP SERVICE MODELS TO IMPROVE EDUCATIONAL OUTCOMES AND ADDRESS SOCIAL INEQUITIES IN STOCKTON. THE SSC TEAM AT RSF PRIMARILY WORKS TO COORDINATE AMERICORPS HOST ORGANIZATIONS AND COMMUNITY PARTNERS, CONNECT THEM TO RESOURCES, AND FACILITATE PARTNERSHIPS IN ORDER TO CREATE A COMMUNITY OF COLLECTIVE IMPACT.SUMMER OF SERVICE IS A SUMMER INTERNSHIP PROGRAM THAT SUPPORTS COLLEGE STUDENTS AND OTHER YOUNG PEOPLE IN ACCESSING PUBLIC SERVICE OPPORTUNITIES. 91 PEOPLE WERE SERVED IN 2023.

Program 3
Expenses: $1,483,250

STOCKTON SCHOLARS AIMS TO DRAMATICALLY INCREASE THE NUMBER OF STOCKTON STUDENTS WHO ENTER AND COMPLETE HIGHER EDUCATION WITHIN THE NEXT 10 YEARS. WE PURSUE THIS VISION THROUGH A PLACE-BASED...

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STOCKTON SCHOLARS AIMS TO DRAMATICALLY INCREASE THE NUMBER OF STOCKTON STUDENTS WHO ENTER AND COMPLETE HIGHER EDUCATION WITHIN THE NEXT 10 YEARS. WE PURSUE THIS VISION THROUGH A PLACE-BASED, GUARANTEED SCHOLARSHIP FOR STOCKTON PUBLIC SCHOOL KIDS STARTING WITH THE CLASS OF 2019; TARGETED SUPPORT THROUGH THE COLLEGE APPLICATION PROCESS; AND HOSTING EVENTS AND CAMPAIGNS THAT BUILD A CITY-WIDE COLLEGE-GOING CULTURE, INCLUDING STOCKTON SCHOLARS SIGNING DAY. 1,513 SCHOLARSHIPS WERE AWARDED IN 2023.

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Trantor Score

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Liquidity (40%) • Solvency (30%) • Sustainability (20%) • Efficiency (10%)

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Financial Overview (2023)

Revenue Breakdown

Contributions & Grants $5,899,195
Program Service Revenue $0
Investment Income $864,582
Other Revenue $0
TOTAL REVENUE $6,763,777

Expense Breakdown

Grants Paid $3,637,624
Salaries & Benefits $2,603,740
Fundraising Expenses $525,184
Program Expenses $8,302,330
Other Expenses $3,572,136
TOTAL EXPENSES $9,813,500

Year-over-Year Comparison

2023 2022 Change
Revenue $6,763,777 $2,940,636 +1.3%
Expenses $9,813,500 $11,146,892 -0.1%
Net Income $-3,049,723 $-8,206,256 -0.6%
Key Indicators
Grants to Organizations Grants to Individuals Lobbying Political Activity Foreign Activities Donor Advised Fund Schedule B Required
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Liquidity & Cash Position

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Governance

Voting Members
8
Independent Members
7
Employees
24
Volunteers
104

Governance Policies

Conflict of Interest Policy
Whistleblower Policy
Document Retention Policy

Special Practices & Reported Activities

Operated a School
Operated a Hospital
Provided First Class Travel
Reported Conflict of Interest
Reported Asset Diversion
Excess Benefit Transaction
Made Political Expenditures
Engaged in Lobbying
Operated Donor Advised Fund
Maintained Art Collections
Filed Form 720

Compensation of Officers, Directors & Key Employees

Total Officers
4
$415,933
Total Directors
8
$217,082
Key Employees
1
$180,904
Highest Compensated
5
reported
Name Title Hours/Week Role Reportable Comp Other Comp Total
MICHAEL D TUBBS CHAIR 40.00
Officer Director
$210,713 $6,369 $217,082
CHRISTY WISE VICE-CHAIR 2.00
Officer Director
$0 $0 $0
CINDY FOSTER SECRETARY 2.00
Officer Director
$0 $0 $0
MICHAEL P DUFFY DIRECTOR 2.00
Director
$0 $0 $0
CHISTIE MARCHESE DIRECTOR 2.00
Director
$0 $0 $0
NATALIA ORFANOS DIRECTOR 2.00
Director
$0 $0 $0
JASMINE DELLAFOSSE DIRECTOR 2.00
Director
$0 $0 $0
BRENNA BUTLER GARCIA DIRECTOR 2.00
Director
$0 $0 $0
NIKOLAS HOWARD EXEC DIRECTOR 40.00
Officer
$195,214 $3,637 $198,851
SAMRA K SUKHJIT MGI DIRECTOR 40.00
Key Emp
$174,621 $6,283 $180,904
CAMERON BURNS MGI DEPUTY DIRECTOR 40.00
Highest
$139,416 $6,258 $145,674
ERIKA ALMAZAN CHIEF PEOPLE OFFICER 40.00
Highest
$151,304 $2,492 $153,796
CLAUDIA HARO DIRECTOR OF OPERATIONS 40.00
Highest
$119,788 $5,101 $124,889
KATHRINE ANN COGAT MGI RESEARCH & PROGRAM OFFICER 40.00
Highest
$107,289 $7,043 $114,332
TIFFANEY BRADLEY SS POSTSECONDARY ACCESS & COMPLETION COODINATOR 40.00
Highest
$105,153 $6,193 $111,346
Note: Compensation data is self-reported by the organization on their Form 990. "Reportable Comp" includes salary, bonuses, and other reportable compensation from the organization and related organizations. "Other Comp" includes benefits, deferred compensation, and non-taxable benefits.

Historical Data

Year Revenue Expenses Assets Net Income
2024 No data No data No data No data
2023 $6,763,777 $9,813,500 $34,150,316 $-3,049,723
2022 $2,940,636 $11,146,892 $35,007,499 $-8,206,256
2021 $19,773,564 $12,726,290 $46,832,546 $7,047,274
2020 $27,962,300 $5,247,513 $38,139,632 $22,714,787
2019 $7,746,167 $3,280,803 $14,675,721 $4,465,364
2018 $6,219,728 $574,964 $9,786,617 $5,644,764
2018 $6,305,300 $659,542 $9,786,617 $5,645,758
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