La Jolla Town Foundation

Nonprofit profile at a glance

EIN
330491212
IRS 990 coverage
2012–2025
Forms available
Form 990 2025
Location
La Jolla, CA, USA
Phone
8584569751
Rating confidence
Limited

Reported finances

Revenue
$0
Expenses
$13,661
Assets
$0
Liabilities
$0

Source: IRS Form 990. Selected filing: tax year 2025. Amounts in USD.

Leadership & pay

3 people listed

Executive titles in this filing

  • Glen Rasmussen (President)

People named in this filing

  • Darcy Ashley (Treasurer)
  • Sherri Lightner (Trustee)
  • Glen Rasmussen (President)

Selected names, not a complete roster or a statement of current roles. Open leadership details for the complete filed list.

Source: IRS Form 990. Selected filing: tax year 2025. Names and roles reflect this filing, not necessarily current officeholders.

Overview

Mission

The La Jolla Town Foundation exists to fund and assist positive and stimulating public events that either improve La Jolla's quality of life, honor La Jolla's history and community character, promote safe and inviting village atmosphere or foster community spirit and well-being.

What it reported doing in 2025

Donation to the La Jolla Kiwanis Foundation for the Concerts by the Sea program

Operating model

Revenue model
No positive adjusted resources. The filing reports no positive adjusted operating resources.
Distribution model
Grant intermediary. The nonprofit sent 100% of its reported program spending out as grants.

The verdict

- The available evidence is not sufficient to produce an overall rating for this filing. This is not a warning sign.

Rating breakdown

  • Financial Efficiency: 44
  • Transparency & Controls: 93
  • Accountability: 58
  • Sustainability: 8
  • Growth: 0

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: Limited
  • Program expense ratio: 58.3%; rating input score 58
  • Fundraising efficiency: Limited

Transparency & Controls

  • Consistency checks: 100%; rating input score 100; 63rd percentile among comparable filings
  • Pay-setting controls: Limited
  • Foreign activity oversight: Limited
  • Grant itemization coverage: 100%; rating input score 100; 81st percentile among comparable filings
  • Major donor itemization: Limited
  • Related-party transparency: Limited

Accountability

  • Independent voting board: 100%; rating input score 100; 64th percentile among comparable filings
  • Governance controls: 0 of 7 controls in place; rating input score 0
    • Conflict-of-interest policy: Fail
    • Whistleblower policy: Fail
    • Document-retention policy: Fail
    • CEO compensation review process: NotApplicable
    • Other executive compensation review process: NotApplicable
    • Form 990 shared with the board: Fail
    • Board meeting minutes documented: Fail
    • Audit committee oversight: Missing
    • Independent financial-statement audit: Fail

Sustainability

  • Operating margin: Limited
  • Total-asset coverage ratio: 0; rating input score 3; 3rd percentile among comparable filings
  • Liabilities to assets ratio: Limited
  • Officer compensation ratio: 0%; rating input score 58; 58th percentile among comparable filings

Growth

  • Program expense growth: -6.8% per year; rating input score 0; 32nd percentile among comparable filings
  • Revenue growth: -14.7% per year; rating input score 0; 24th percentile among comparable filings
  • Asset growth: -8.4% per year; rating input score 0; 15th percentile among comparable filings

Details

  • Where the money goes: 58.3% of spending went to programs
  • Governance: 3 of 3 board members independent · 0 of 7 filing controls reported
  • Programs: 1 filed program accomplishment · $8K in reported program spending
  • Leadership: top reported pay $0 · 3 people listed
  • Consistency: 14 of 14 current checks pass
  • Schedules: 4 filed schedules · includes grants
  • Filing history: 12 filing years from 2012 to 2025
  • Contacts: How to reach this organization
  • Money network: 1 filed money-flow record
  • Related organizations: Filed and resolved organization relationships.
  • Grant readiness: Federal tax and exclusion status, award history, and grant-maker relationships.
  • People: Everyone the filings name, and which of them the filings identify by more than a name.

Key Signals

Signals prioritize questions for review. They are not findings of misconduct.

Grant-readiness screening is separate from the live rating, not a measure of program quality. Review the source records before making a grant decision.

  • Review — Financial Efficiency: Program expense ratio scored 58/100.
  • High — Accountability: Governance controls: 6 of 6 not reported.
  • High — Sustainability: Total-asset coverage ratio scored 3/100.
  • High — Growth: Program expense growth scored 0/100.
  • High — Growth: Revenue growth scored 0/100.
  • High — Growth: Asset growth scored 0/100.
  • Review — Sustainability: Officer compensation ratio scored 58/100.
  • High — Grant Readiness: California registration: this organization is recorded as not currently operating in California.