THE TURNER FOUNDATION - SINCE 1958 - Form 990 Financial Data

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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

1958

Legal Domicile

Principal Officer

STEPHANIE OLSON

Phone

8057301200

Tax Period

2024-01-01 to 2024-12-31

THE TURNER FOUNDATION - SINCE 1958, founded in 1958, is a community nonprofit in the Housing & Shelter sector that reported $9.8M in total revenue in fiscal year 2024. Revenue surged 203% from the prior year, signaling strong growth momentum. The organization ran a surplus of $4.9M, a strong 50% operating margin.

Mission

THE MISSION OF THE TURNER FOUNDATION IS TO PROVIDE SAFE, AFFORDABLE HOUSING AS WELL AS PROGRAMS AND SERVICES THAT WILL IMPROVE THE QUALITY OF LIFE FOR THE RESIDENTS AND SURROUNDING SANTA BARBARA COMMUNITY.

Program Service Accomplishments

Program 1

Expenses: $2,799,776 Revenue: $8,957,773

THE TURNER FOUNDATION (SINCE 1958) OWNS AND OPERATES A 70 UNIT AFFORDABLE HOUSING COMPLEX ON THE WEST SIDE OF SANTA BARBARA, CALIFORNIA. THE HOUSING COMMUNITY IS CALLED "THE VILLAGE OF SANTA...

THE TURNER FOUNDATION (SINCE 1958) OWNS AND OPERATES A 70 UNIT AFFORDABLE HOUSING COMPLEX ON THE WEST SIDE OF SANTA BARBARA, CALIFORNIA. THE HOUSING COMMUNITY IS CALLED "THE VILLAGE OF SANTA BARBARA." THE APARTMENT COMPLEX HAS A MIX OF STUDIOS, ONE, AND TWO BEDROOM UNITS. A PLAYGROUND, BASKETBALL COURT, AND SWIMMING POOL ARE ALL AMENITIES AT THE VILLAGE. IN AUGUST OF 2014, THE TURNER FOUNDATION ACQUIRED A 45 UNIT COMPLEX ON THE WEST SIDE OF SANTA BARBARA. THIS HOUSING COMMUNITY IS CALLED "THE LIGHTHOUSE OF SANTA BARBARA." THROUGH CITY FUNDING,GRANTS, DONATIONS, AND OTHER FUNDS THE ORGANIZATION IMPROVES LIVING CONDITIONS FOR LOW INCOME FAMILIES AT BOTH PROPERTIES THROUGH NEW AND ONGOING REMODELS AND RENOVATIONS

Program 2

Expenses: $991,704

THE ORGANIZATION'S ONSITE PROGRAMMING AIMS TO PROMOTE THE WELFARE OF THE WHOLE FAMILY BY OFFERING HIGH QUALITY SERVICES. AN ONSITE LEARNING CENTER AND COMMUNITY CENTER ARE THE APEX ENVIRONMENTS FOR MEETING THE EDUCATIONAL NEEDS FOR CHILDREN (PRESCHOOL TWELFTH GRADE). ONSITE PROGRAMMING INCLUDES AN AFTER SCHOOL ENRICHMENT PROGRAM, YOUTH SUMMER PROGRAM, PERFORMING ARTS PROGRAM AND ART PROGRAM. ALL ONSITE PROGRAMS ARE AT NO COST TO THE TENANTS AND OFFER POSITIVE, EDUCATIONAL AND ENRICHING EXPERIENCES FOR THE CHILDREN LIVING IN THE COMMUNITY. PROGRAMMING IS MADE POSSIBLE THROUGH COMMUNITY PARTNERSHIPS, GRANTS, DONATIONS, AND OTHER FUNDS.

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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 $854,460

Program Service Revenue $2,733,647

Investment Income $6,224,129

Other Revenue $0

TOTAL REVENUE $9,812,236

Expense Breakdown

Grants Paid $0

Salaries & Benefits $1,339,560

Fundraising Expenses $244,563

Program Expenses $3,791,480

Other Expenses $3,607,477

TOTAL EXPENSES $4,947,037

Year-over-Year Comparison

	2024	2023	Change
Revenue	$9,812,236	$3,236,418	+2.0%
Expenses	$4,947,037	$4,063,944	+0.2%
Net Income	$4,865,199	$-827,526	-6.9%

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

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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

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

$399,682

Total Directors

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
CURTIS YATES	PRESIDENT	2.00	Officer Director	$0	$0	$0
BRYAN WESTERFELD	DIRECTOR	2.00	Director	$0	$0	$0
NATHANIEL BAILEY	DIRECTOR	2.00	Director	$0	$0	$0
STEPHANIE OLSON	TREASURER	2.00	Officer Director	$0	$0	$0
AISHA OYAREKHUA	DIRECTOR	2.00	Director	$0	$0	$0
DEAN WILSON	CEO	40.00	Officer	$225,346	$28,000	$253,346
DONALD FELLER	SECRETARY/DIRECTOR OF OPER	40.00	Officer	$129,836	$16,500	$146,336

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	$9,812,236	$4,947,037	$10,839,927	$4,865,199
2023	$3,236,418	$4,063,944	$23,346,167	$-827,526
2022	$3,001,578	$3,682,434	$24,589,649	$-680,856
2021	$3,115,823	$3,397,854	$25,005,595	$-282,031
2021	$3,115,823	$3,397,854	$25,005,595	$-282,031
2020	$2,566,080	$3,404,237	$25,753,807	$-838,157
2020	$2,566,080	$3,404,237	$25,753,807	$-838,157
2019	$2,321,222	$2,994,948	$25,623,973	$-673,726
2018	$2,145,030	$2,468,269	$26,097,370	$-323,239

THE TURNER FOUNDATION - SINCE 1958