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CHARITY REVIEW
Issued: July 2024 Expires: July 2026

Point Foundation

Accredited Charity
Accredited Charity

Meets Standards
(833) 887-6462
6230 Wilshire Boulevard, Suite 890
Los Angeles, CA, 90048
https://pointfoundation.org
📄 Full Report 🖨️ Print 📋 BBB Charity Standards

Standards For Charity Accountability

Governance

  1. Board Oversight
  2. Board Size
  3. Board Meetings
  4. Board Compensation
  5. Conflict of Interest

Measuring Effectiveness

  1. Effectiveness Policy
  2. Effectiveness Report

Finances

  1. Program Expenses
  2. Fundraising Expenses
  3. Accumulating Funds
  4. Audit Report
  5. Detailed Expense Breakdown
  6. Accurate Expense Reporting
  7. Budget Plan

Fundraising & Info

  1. Truthful Materials
  2. Annual Report
  3. Website Disclosures
  4. Donor Privacy
  5. Cause Marketing Disclosures
  6. Complaints

Point Foundation meets the 20 Standards for Charity Accountability.

Stated Purpose:
"to grant scholarships to lesbian, gay, bisexual, and transgender students of merit."

Year, State Incorporated:
2001, CO

Point Foundation reports that it provides financial support, leadership training, mentoring, and community to lesbian, gay, bisexual, and transgender college students attending US-accredited educational institutions. In 2023, the organization states that it served 575 students, awarded 118 opportunity grants, and launched its career exposure program.

For the year ended June 30, 2023, Point Foundation's program expenses were:

Scholarship and scholar support: $3,098,452

Leadership conferences and training: $1,087,112

Scholar selections: $477,923

Total Program Expenses: $4,663,487

Chief Executive
Jorge Valencia, Executive Director

Compensation*
$361,864

Chair of the Board
Brian Dent

Chair's Profession / Business Affiliation
Senior Vice President, RBC Wealth Management

Board Size
29

Paid Staff Size
22

*2022 compensation includes annual salary and, if applicable, benefit plans, expense accounts, and other allowances.

Note: Peter Lichtenthal serves as co-chair of the board of directors.

Method(s) Used:
Direct mail appeals, Grant proposals, Internet, Direct mail appeals, Radio, Special events, Print advertisements

Fundraising costs were 7% of related contributions. (Related contributions, which totaled $10,110,626, are donations received as a result of fundraising activities.)

This organization is tax-exempt under section 501(c)(3) of the Internal Revenue Code. It is eligible to receive contributions deductible as charitable donations for federal income tax purposes.

The following information is based on Point Foundation's audited financial statements for the year ended June 30, 2023.

Source of Funds
Contributions $5,368,487
Bequests $4,666,218
Investment income, net $737,424
Special events, net $32,210
In-kind contributions $43,711
Other income $51,507
Loss on write-off of uncollectable pledges receivable $-95,718
Total Income $10,803,839

Programs: 81% Fundraising: 11% Administrative: 7%

Total Income $10,803,839
Total expenses: $5,724,349
  Program expenses $4,663,487
  Fundraising expenses $658,063
  Administrative expenses $402,799
  Other expenses $0
Income in Excess of Expenses $5,079,490
Beginning Net Assets $14,700,601
Other Changes In Net Assets $0
Ending Net Assets $19,780,091
Total Liabilities $5,456,110
Total Assets $20,236,201

Note: According to Point Foundation's audited financial statements for the year ended June 30, 2023, the organization received $43,711 in contributed goods and services including professional fees and consultants ($37,277) and transportation ($6,434).

An organization may change its practices at any time without notice. A copy of this report has been shared with the organization prior to publication. It is not intended to recommend or deprecate, and is furnished solely to assist you in exercising your own judgment. If the report is about a charity and states the charity meets or does not meet the Standards for Charity Accountability, it reflects the results of an evaluation of information and materials provided voluntarily by the charity. The name Better Business Bureau is a registered service mark of the International Association of Better Business Bureaus.

This report is not to be used for fundraising or promotional purposes.

RELATED CONTENT

Report completed by:
BBB Wise Giving Alliance