BBB Wise Giving Report for
Point Foundation

BBB Wise Giving Report issued February 2011
BBB Wise Giving Report expires February 2013


Does not meet one or more standards
This charity does not meet one or more of the 20 standards for Charity Accountability. Find out more...


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Charity Contact Information

Name: Point Foundation
Address: 5757 Wilshire Boulevard, Suite 370
  Los Angeles, CA 90036
Phone: 323-933-1234
866-337-6468
Web Address: www.pointfoundation.org
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BBB Wise Giving Alliance Comments

Year, State Incorporated: 2001, Colorado
Affiliates: None
Stated Purpose: "to provide financial support, mentoring, leadership training and hope to meritorious students who are marginalized due to sexual orientation, gender identity or gender expression."

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Evaluation Conclusions

               

Point Foundation (Point) does not meet the following 3 Standards for Charity Accountability.

Standard 7: Board Approval of Written Report on Effectiveness - Submit to the organization's governing body, for its approval, a written report that outlines the results of the aforementioned performance and effectiveness assessment and recommendations for future actions.

Point does not meet this Standard because:

  • Has not completed an effectiveness assessment in the past two years.

Standard 16: Annual Report - Have an annual report available to all, on request, that includes: (a) the organization's mission statement, (b) a summary of the past year's program service accomplishments, (c) a roster of the officers and members of the board of directors, (d) financial information that includes (i) total income in the past fiscal year, (ii) expenses in the same program, fund raising and administrative categories as in the financial statements, and (iii) ending net assets.

Point does not meet this standard because the most recent annual report did not include:

  • Total expenses for each program in the same categories that appear in the organization’s financial statements.

Standard 19: Cause Related Marketing - Clearly disclose how the charity benefits from the sale of products or services (i.e., cause-related marketing) that state or imply that a charity will benefit from a consumer sale or transaction. Such promotions should disclose, at the point of solicitation: (a) the actual or anticipated portion of the purchase price that will benefit the charity (e.g., 5 cents will be contributed to abc charity for every xyz company product sold), (b) the duration of the campaign (e.g., the month of October), (c) any maximum or guaranteed minimum contribution amount (e.g., up to a maximum of $200,000).

Point does not meet this Standard because, in the past year the organization participated in promotion(s) for the sale of consumer good(s) or service(s) that indicate(s) that the organization will benefit from these purchase(s). The promotion(s), however, did not specify:

  • The actual or anticipated amount of the purchase price that will benefit the organization.
In addition, the BBB Wise Giving Alliance requested but did not receive complete information on the organization’s solicitation materials and is unable to verify the organization's compliance with the following Standard for Charity Accountability: 15.
Point Foundation (Point) meets the remaining 16 Standards for Charity Accountability.
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Programs

               

Point seeks to supply financial support, professional guidance and a network of contacts for undergraduate, graduate and post-graduate students who are underprivileged and/or have been socially marginalized. Point also identifies students who have financial needs that require personal assistance for personal success. Point matches scholars with Point Mentors, successful professionals who serve as role models and build personal and intergenerational relationships. Mentors and scholars work collaboratively to set goals and objectives that work to build leadership skills and assist scholars with career and life decisions. A Point scholarship may cover tuition, books, supplies, room and board, transportation and living expenses. In exchange, all point scholars agree to maintain a high level of academic performance and give back to the lesbian, gay, bisexual, and transgender community through the completion of an individual community service project. Point scholars represent diverse, classes, genders, gender identities, sexual orientations, ethnic backgrounds, ages, and U.S. regions.

For the fiscal year ended June 30, 2010, Point's program expenses were:

  
Program related expenses 1,082,865
Scholarships 559,131
Leadership and alumni conferences and mentoring 84,111
Total Program Expenses: $1,726,107
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Governance

               

Chief Executive : Jorge Valencia, Executive Director & CEO
Compensation*:
 $194,039

Chair of the Board: David Steward
Chair's Profession / Business Affiliation: President, Chief Operating Officer, 20x200 Jen Beckman Projects, Inc.

Co-Chair of the Board : John G. Pence

Chair's Profession / Business Affiliation: Owner, John Pence Gallery

Board Size: 11

Paid Staff Size: 15

*July 1 2009 - June 30, 2010 compensation includes annual salary and, if applicable, benefit plans, expense accounts, and other allowances.
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Fund Raising

               

Method(s) Used:

Direct mail, special events, print advertisements, grant proposals, Internet appeals, planned giving, and cause-related marketing.
Fund raising costs were 12% of related contributions. (Related contributions, which totaled $3,498,146, are donations received as a result of fund raising activities.)
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Tax Status

               

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.
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Financial

               

The following information is based on Point's audited financial statements for the fiscal year ended June 30, 2010.

Source of Funds  
Contributions 2,678,317
Special events (net) 770,133
Investment income 267,664
In-kind contributions 49,696
Loss on disposal of property -3,577
Pledge write-off -52,775
Total Income $3,709,458


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Uses of Funds as a % of Total Expenses

Programs: 70%  Fund Raising: 18%  Administrative: 12% 

Total income   $3,709,458
  Program expenses $1,726,107
  Fund raising expenses 434,871
  Administrative expenses 291,957
 
Total expenses   $2,452,935
Income in Excess of Expenses   1,256,523
Beginning net assets   4,012,151
Ending net assets   5,268,674
Total liabilities   128,082
Total assets   $5,396,756

Note: According to Point's audited financial statements for the year ended June 30, 2010, in-kind contributions included regional leadership forum ($39,611), legal services ($9,635), and event food ($650).

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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 BBB 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 Council of Better Business Bureaus, Inc.

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

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