College Futures Foundation
College Futures Foundation is a private foundation based in Oakland, California, established in 1990 and formally incorporated in 2005 following the sale of CHELA, a nonprofit student loan company. The foundation is designated as a 501(c)(3) organization classified as a public, society benefit organization. Its core mission centers on increasing postsecondary completion and advancing educational equity across California.
Key facts about College Futures Foundation
- EIN
- 94-2618667
- Latest 990 filing
- Form 990-PF, 2024
- Annual giving (2024)
- $16,683,989
- Grants made (2024)
- 181
- Average grant
- $92,177
- Median grant
- $20,000
- New grantees (estimate)
- 32% first-time grantees (43 of 134, 2024)
- Total assets
- $561,628,794
- Primary geography
- California (79% of itemized 2024 grant dollars)
- Accepts unsolicited proposals
- No
Data from IRS Form 990-PF, 2024; updated September 2026. New grantees are estimated by matching recipient names across years (methodology). Application details from Grantable's research on the foundation's public materials; confirm on its website before applying.
Who College Futures Foundation funds
By grant dollars, the top recipient states for College Futures Foundation's 181 itemized 2024 grants were California (79%), District of Columbia (7%) and Maryland (5%). The most frequent recipient cities were Sacramento, CA (26 grants), Los Angeles, CA (19 grants), Oakland, CA (18 grants) and San Francisco, CA (16 grants). None of its 181 grants with a stated purpose were described as general or operating support. Recurring purposes include "Program Grant" (77 grants), "Employee Matching Gifts" (40 grants) and "Director Donations" (36 grants).
Is College Futures Foundation open to new grantees?
32%
first-time grantees, 2024
In 2024, 43 of 134 grantees (32%) were first-time recipients. First grants averaged $69K; repeat grants $151K. How we count
Medians: $10K first-time, $82K repeat.
- 54% of 2024 grantees were also funded in 2023. Method
- Giving held roughly steady from 2021 to 2024 (−17%). Method
- In 2024 it paid out 94% of its IRS minimum distribution (the 5% rule). Foundations have until the end of the next year to meet it. Method
Estimate from itemized IRS Form 990-PF grant lists (2020–2024). Recipient names are matched across years, so a renamed or misspelled grantee can look new; grants to individuals are left out. Methodology.
Next steps with College Futures Foundation
- How to evaluate College Futures Foundation as a funder
Our grant prospecting guide: read the 990-PF, check fit, and decide whether to apply.
- Draft an LOI to College Futures Foundation with AI
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- Track this opportunity in a free grant tracker
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Financial Overview
From 2024 IRS Form 990-PF · View filing
Total Assets
$561.6M
+4.8% YoY
Annual Giving
$16.7M
+4.1% YoY
Grant Count
181
-2.2% YoY
Avg Grant Size
$92K
+6.4% YoY
Under IRS private-foundation payout rules, College Futures Foundation reported a distributable amount of $26.2M for 2024 — the minimum it must pay out in qualifying distributions.
Mission & Focus Areas
The foundation's mission is "to increase postsecondary completion for learners who are underserved." It envisions "a California where postsecondary education advances racial, social, and economic equity, unlocking upward mobility now and for generations to come."
The foundation operates through several strategic initiatives:
Advancing Learner-Centered Innovations: Supporting innovative and policies, practices, and postsecondary educational experiences that empower learners and improve access, completion, and upward mobility.
Aligning Postsecondary Education for Economic Mobility: Redefining the value of postsecondary education as a driver of economic mobility, particularly for underserved learners, through data and research partnerships, convenings, and deepening research on economic mobility challenges.
Reimagining Education for the Future of Work: Supporting policy research, advocacy work, and coalitions of community-based advocacy organizations to build their leadership in developing higher education policy within California.
Additional current initiatives include:
Golden Opportunities Initiative: Redefining how postsecondary value is understood, measured, and communicated—centering equity, lived experience, and outcomes to make postsecondary education a reliable vehicle for economic mobility.
Unlocking Economic Mobility for Adult Learners Initiative: Meeting adult learners where they are by supporting innovative solutions that make postsecondary education more responsive, flexible, and inclusive, aligned with the realities of work and life.
Grantmaking
The foundation awards more than $20 million in grants annually. Recent grant activity shows typical awards ranging from $40,000 to $1,050,000.
Ready to take the next step with College Futures Foundation?
Geographic Focus
Where this funder awards grants
The foundation's grantmaking focuses primarily on California, with some activity in the District of Columbia and Massachusetts.
Grant Distribution by State
Share of all 181 itemized 2024 grant dollars.
States
Cities
Financial History
Multi-year comparison from IRS filings
As of 2024:
- Total Assets: $561,628,794
- Total Revenues: $46,329,971
- Total Expenses: $38,109,372
- Total Giving: $16,683,989
As of 2023:
- Total Assets: $536,160,774
- Total Revenues: $35.4M
- Total Expenses: $40.9M
- Total Liabilities: $15.9M
The foundation maintains an endowment of approximately $500 million. Income has been generated from existing student loans made prior to converting into a private foundation.
Staff: 20 employees
| Metric | 2024 | 2023 | 2022 |
|---|---|---|---|
| Total Assets | $561,628,794 | $536,160,774 | $506,025,747 |
| Revenue | $46,329,971 | $35,356,300 | $-3,753,028 |
| Expenses | $38,109,372 | $40,940,966 | $29,852,744 |
| Qualifying Distributions | $24,576,128 | $24,358,952 | $29,573,015 |
| Net Investment Income | $35,734,625 | $21,687,297 | $785,237 |
| Distributable Amount | $26,212,855 | $24,905,904 | $26,028,253 |
Data update history
When this profile's IRS filing data changed on Grantable
- IRS filings on file for fiscal years 2020–2024
Giving Over Time
Total grant dollars and number of grants per year
Grant Insights
How this funder distributes its grants
Top Recipients
Top 10 recipients in 2024
Grant Size Distribution
940 grants across all recorded years
Giving History
Grant recipients and amounts by year
Among its reported 2024 grants, the largest recipients include Foundation for California Community Colleges ($1,757,000 across 10 grants), Sova Solutions ($857,000 across 3 grants), The RP Group Inc ($850,000 across 2 grants).
| Recipient | Purpose | Amount |
|---|---|---|
| THE RP GROUP INC San Rafael, CA | PROGRAM GRANT | $600,000 |
| FOUNDATION FOR CALIFORNIA COMMUNITY COLLEGES Sacramento, CA | PROGRAM GRANT | $550,000 |
| CALMATTERS Sacramento, CA | PROGRAM GRANT | $500,000 |
| AMERICAN ASSOCIATION OF COMMUNITY COLLEGES Washington, DC | PROGRAM GRANT | $500,000 |
| CALIFORNIA STATE UNIVERSITY FRESNO FOUNDATION Fresno, CA | PROGRAM GRANT | $500,000 |
| FOUNDATION FOR CALIFORNIA COMMUNITY COLLEGES Sacramento, CA | PROGRAM GRANT | $469,000 |
| SOVA SOLUTIONS Rockvillle, MD | PROGRAM GRANT | $407,000 |
| ACCREDITING COMMISSION FOR COMMUNITY & JUNIOR COLLEGES Sacramento, CA | PROGRAM GRANT | $400,000 |
| PUBLIC AGENDA Brooklyn, NY | PROGRAM GRANT | $365,000 |
| JOBS FOR THE FUTURE Boston, MA | PROGRAM GRANT | $350,000 |
Leadership & Key People
Leadership team and compensation from IRS filings
Dr. Elizabeth González serves as Chief Program & Strategy Officer at College Futures Foundation.
Compensation Overview
From 2024 IRS filing
From 2024 IRS filing
| Name | Title | Hours | Compensation |
|---|---|---|---|
| Avalos Arnoldo | Board Member | 1.5 | $16,000 |
| Escutia Martha | Board Member | 1.5 | $16,000 |
| Karavadra Kailesh | Board Member | 1.5 | — |
| Lucas Donna | Board Member, Chair (To 12/24) | 3 | $30,000 |
| Mendonca Lenny | Board Member | 1.5 | $16,000 |
| Oubre Linda | Board Member | 1.5 | $16,000 |
| Seldon Willa | Board Member | 1.5 | $16,000 |
| Swearengin Ashley | Board Member, Vice Chair | 1.5 | $16,000 |
| Whitmore Richard | Board Member | 1.5 | $16,000 |
| Yamauchi Timothy | Board Member | 1.5 | $16,000 |
| Yee Betty | Board Member | 1.5 | $4,000 |
| Ortiz-Oakley Eloy | President/CEO, Board Member Ex-Officio | 37.5 | $562,208 |
| Wallace Phillippe | CFO/COO | 37.5 | $459,326 |
Recent News & Activity
Recent developments and announcements
In 2025, the foundation emphasized its role as a convener of change, not just a funder. Leadership highlighted the need to reimagine the postsecondary ecosystem to reflect and support learner goals, with particular focus on redefining value rooted in inclusion and defined by accessibility, affordability, and flexibility that mirrors the lives of today's learners.
The foundation has announced grantees selected to advance economic mobility for adult learners and continues to publish insights and resources on topics including California's economic future, serving adult learners, scaling for equity, and the state of learners in California.
Announcing Awarded Partnerships to Advance Economic Mobility ...Subject Areas
Focus areas based on grantmaking activity
Frequently Asked Questions
What does College Futures Foundation fund?
The foundation's mission is "to increase postsecondary completion for learners who are underserved." It envisions "a California where postsecondary education advances racial, social, and economic equity, unlocking upward mobility now and for generations to come." The foundation operates through several strategic initiatives: • **Advancing Learner-Centered Innovations**: Supporting innovative and policies, practices, and postsecondary educational experiences that empower learners and improve acc…
How do I apply for a grant from College Futures Foundation?
The foundation awards more than $20 million in grants annually. Recent grant activity shows typical awards ranging from $40,000 to $1,050,000. Recent grants include: • The RP Group: $600,000 program grant (2024) • ACCJC (Accrediting Commission for Community and Junior Colleges): $400,000 grant to advance data, storytelling, and social mobility at member institutions The foundation prioritizes educational interventions, research, and policy that support access and affordability of postsecondary …
Where does College Futures Foundation make grants?
The foundation's grantmaking focuses primarily on California, with some activity in the District of Columbia and Massachusetts.
What size grants does College Futures Foundation award?
In 2024, College Futures Foundation awarded 181 grants totaling $16.7M — an average of about $92K per grant, based on its IRS Form 990 filings.
How much is College Futures Foundation required to give away each year?
Private foundations must generally distribute about 5% of their assets annually. For 2024, College Futures Foundation reported a distributable amount of $26.2M on its IRS Form 990-PF — the minimum it must pay out in qualifying distributions.
What is College Futures Foundation's EIN?
College Futures Foundation's EIN (Employer Identification Number) is 94-2618667. IRS Form 990 filing data is available on this page for 2020–2024.
Does College Futures Foundation accept unsolicited proposals?
No, according to Grantable's research on the foundation's published guidelines. See how to apply ↑
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Data last updated September 2026. Sourced from IRS Form 990-PF filings. Research dossier generated April 2026.