CARLSBAD EDUCATIONAL FOUNDATION

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Financial Vulnerability Assessment (Tuckman-Chang)

4 risk indicators measuring financial stability and operational resilience

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Financial Trends

Organization Details

Formation Year

1982

Legal Domicile

Principal Officer

LAURA PITTS

Phone

7609291555

Tax Period

2024-09-01 to 2025-08-31

CARLSBAD EDUCATIONAL FOUNDATION, founded in 1982, is a community nonprofit that reported $6.8M in total revenue in fiscal year 2024. Revenue grew 8% year-over-year, indicating healthy expansion.

Mission

TO PROVIDE INCREASED EDUCATIONAL OPPORTUNITIES FOR ALL STUDENTS IN THE CARLSBAD UNIFIED SCHOOL DISTRICT BY DEVELOPING AND FUNDING IMPACTFUL PROGRAMS.

Program Service Accomplishments

Program 1

Expenses: $5,761,920 Revenue: $5,930,377

THE CARLSBAD EDUCATIONAL FOUNDATION IS A NON-PROFIT ORGANIZATION DEDICATED TO SUPPORTING AND ENHANCING THE EDUCATIONAL EXPERIENCE FOR STUDENTS IN THE CARLSBAD UNIFIED SCHOOL DISTRICT (CUSD). THROUGH FUNDRAISING EFFORTS AND COMMUNITY ENGAGEMENT, THE FOUNDATION AIMS TO PROVIDE ADDITIONAL RESOURCES, PROGRAMS, AND OPPORTUNITIES THAT CONTRIBUTE TO THE OVERALL QUALITY OF EDUCATION IN CARLSBAD. THEIR INITIATIVES OFTEN FOCUS ON AREAS SUCH AS MUSIC, ART, SCIENCE, AND INNOVATION, ENRICHING THE LEARNING ENVIRONMENT FOR STUDENTS. IN ADDITION, THE FOUNDATION OPERATES KIDS CARE, A BEFORE AND AFTER SCHOOL LICENSED CHILDCARE PROGRAM THROUGHOUT CUSD.

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Trantor Score

Financial Health Score (300–850) · Liquidity · Solvency · Sustainability · Efficiency

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

Financial Overview (2024)

Revenue Breakdown

Contributions & Grants $682,343

Program Service Revenue $5,930,377

Investment Income $165,145

Other Revenue $-2,164

TOTAL REVENUE $6,775,701

Expense Breakdown

Grants Paid $1,365,096

Salaries & Benefits $4,001,300

Fundraising Expenses $335,269

Program Expenses $5,761,920

Other Expenses $1,218,676

TOTAL EXPENSES $6,585,072

Year-over-Year Comparison

	2024	2023	Change
Revenue	$6,775,701	$6,251,978	+0.1%
Expenses	$6,585,072	$5,814,880	+0.1%
Net Income	$190,629	$437,098	-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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Financial Health Indicators

Comprehensive financial analysis: Altman Z-Score, liquidity, solvency, sustainability, efficiency, and growth metrics

Financial Distress Indicator

Liquidity & Cash Position

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Altman Z-Score • Liquidity Ratios • Solvency Analysis • Growth Indicators • Efficiency Metrics

Governance

Voting Members

Independent Members

Employees

149

Volunteers

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

$215,194

Total Directors

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
LAURA PITTS	CEO	40.00	Officer	$207,350	$7,844	$215,194
TAYLOR BEVERIDGE	DIR OF PHIL	40.00		$116,085	$4,962	$121,047
MANDY MCKNIGHT	DIR OF FINANCE	40.00		$101,607	$10,670	$112,277
IAN MCDANIEL	Chair	3.00	Officer Director	$0	$0	$0
AJ VAN DE VEN	Vice Chair	3.00	Officer Director	$0	$0	$0
TREVOR MCGRAW	Treasurer	3.00	Officer Director	$0	$0	$0
TERRA TEAT	Secretary	3.00	Officer Director	$0	$0	$0
KEN BREEDING	Director	2.00	Director	$0	$0	$0
DELIA CHARVEL	Director	2.00	Director	$0	$0	$0
MICHELLE DASTYCK	Director	2.00	Director	$0	$0	$0
CHERYL BARTEL	Director	2.00	Director	$0	$0	$0
JEFF KUNTZ	Director	2.00	Director	$0	$0	$0
CLAIRE LABRECHE	Director	2.00	Director	$0	$0	$0
JOSH MAZUR	Director	2.00	Director	$0	$0	$0
JEN FORNAL	Director	2.00	Director	$0	$0	$0
PHILIP MCLELLAN	Director	2.00	Director	$0	$0	$0
DAVE PADGETT	Director	2.00	Director	$0	$0	$0
NIALL CASEY	Director	2.00	Director	$0	$0	$0
DAWN HILL	Director	2.00	Director	$0	$0	$0
ELLIOT SPRINGER	Director	2.00	Director	$0	$0	$0

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
2025	$6,775,701	$6,585,072	$5,293,475	$190,629
2024	$6,251,978	$5,814,880	$5,016,582	$437,098
2023	$5,495,189	$5,064,105	$4,575,130	$431,084
2023	$5,586,966	$5,076,832	$4,575,130	$510,134
2022	$4,615,053	$4,290,296	$3,814,368	$324,757
2021	$3,750,610	$3,622,729	$3,397,938	$127,881
2020	$3,537,535	$2,652,842	$2,308,474	$884,693
2019	$3,950,561	$3,788,765	$1,706,961	$161,796