The 54 Fund
The 54 Fund is a private foundation located in Stockton, California, established in 2021. Formerly known as the Fccu2 Foundation, the organization operates as a 501(c)(3) private foundation with a focus on general support grantmaking to local nonprofits and community organizations.
Key facts about The 54 Fund
- EIN
- 87-1724276
- Latest 990 filing
- Form 990-PF, 2024
- Annual giving (2024)
- $527,180
- Grants made (2024)
- 99
- Average grant
- $5,325
- Median grant
- $2,500
- New grantees (estimate)
- 17% first-time grantees (17 of 99, 2024)
- Total assets
- $14,957,313
- Primary geography
- California (98% of itemized 2024 grant dollars)
Data from IRS Form 990-PF, 2024; updated September 2026. New grantees are estimated by matching recipient names across years (methodology).
Who The 54 Fund funds
By grant dollars, the top recipient states for The 54 Fund's 99 itemized 2024 grants were California (98%). The most frequent recipient cities were Stockton, CA (61 grants), Lodi, CA (12 grants), Manteca, CA (5 grants) and French Camp, CA (3 grants). 100% of grants with a stated purpose were for general or operating support.
Is The 54 Fund open to new grantees?
17%
first-time grantees, 2024
In 2024, 17 of 99 grantees (17%) were first-time recipients. First grants averaged $6K; repeat grants $5K. How we count
Medians: $1K first-time, $3K repeat.
- 79% of 2024 grantees were also funded in 2023. Method
- In 2024 it paid out 86% 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 (2022–2024). 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 The 54 Fund
- How to evaluate The 54 Fund as a funder
Our grant prospecting guide: read the 990-PF, check fit, and decide whether to apply.
- Draft an LOI to The 54 Fund 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
$15.0M
+12.4% YoY
Annual Giving
$527K
+20.2% YoY
Grant Count
99
+16.5% YoY
Avg Grant Size
$5K
+3.2% YoY
Under IRS private-foundation payout rules, The 54 Fund reported a distributable amount of $719K for 2024 — the minimum it must pay out in qualifying distributions.
Mission & Focus Areas
The foundation's primary program area is general investments and general support funding. The organization awards grants to support various community initiatives in the Stockton area.
Grantmaking
The foundation also made a $1,500 grant to the Chinese Cultural Society of Stockton in 2024 for general support.
Grant Range
$3,200
Average Grant
$3,200
Ready to take the next step with The 54 Fund?
Geographic Focus
Where this funder awards grants
The foundation focuses its grantmaking on the Stockton, California area and San Joaquin County region.
Grant Distribution by State
Share of all 99 itemized 2024 grant dollars.
Cities
Financial History
Multi-year comparison from IRS filings
As of December 31, 2023:
- Total assets: $13,301,691
- Total revenues: $434,659
- Total expenses: $660,493
- Investment income and dividends: $342,135
- Total grants, contributions, etc.: $250,000
- Number of employees: 1
Revenue Growth: Investment income increased significantly, growing 176.7% from 2022 ($123,632) to 2023 ($342,135).
| Metric | 2024 | 2023 | 2022 |
|---|---|---|---|
| Total Assets | $14,957,313 | $13,301,691 | $12,057,693 |
| Revenue | $818,624 | $434,659 | $368,658 |
| Expenses | $676,049 | $660,493 | $378,337 |
| Qualifying Distributions | $619,240 | $609,248 | $349,776 |
| Net Investment Income | $514,695 | $298,203 | $114,778 |
| Distributable Amount | $719,161 | $625,238 | $598,211 |
Data update history
When this profile's IRS filing data changed on Grantable
- IRS filings on file for fiscal years 2021–2024
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
270 grants across all recorded years
Giving History
Grant recipients and amounts by year
Among its reported 2024 grants, the largest recipients include St Mary's Dining Room ($78,000), United Way of San Joaquin ($35,000), Stockton Beautiful ($30,000).
| Recipient | Purpose | Amount |
|---|---|---|
| ST MARY'S DINING ROOM Stockton, CA | GENERAL SUPPORT | $78,000 |
| UNITED WAY OF SAN JOAQUIN Stockton, CA | GENERAL SUPPORT | $35,000 |
| STOCKTON BEAUTIFUL Ripon, CA | GENERAL SUPPORT | $30,000 |
| HAGGIN MUSEUM Lodi, CA | GENERAL SUPPORT | $25,000 |
| ST MARY'S HIGH SCHOOL FOUNDATION Stockton, CA | GENERAL SUPPORT | $25,000 |
| LODI BOYS AND GIRLS CLUB Lodi, CA | GENERAL SUPPORT | $25,000 |
| DIOCESE OF STOCKTON Stockton, CA | GENERAL SUPPORT | $25,000 |
| OAK GROVE NATURE CENTER Stockton, CA | GENERAL SUPPORT | $23,880 |
| CHILDREN'S MUSEUM OF STOCKTON Stockton, CA | GENERAL SUPPORT | $15,000 |
| GOODWILL INDUSTRIES OF SAN JOAQUIN VALLEY Manteca, CA | GENERAL SUPPORT | $10,000 |
Leadership & Key People
Leadership team and compensation from IRS filings
- Manuel Lopez — Chair, Director
- Valencia Jones — Vice Chair, Director
- Edward Figueroa — Executive Director
Compensation Overview
From 2024 IRS filing
From 2024 IRS filing
| Name | Title | Hours | Compensation |
|---|---|---|---|
| Manuel Lopez | Director | 1 | — |
| Valencia Jones | Director | 1 | — |
| Karyn Johnson | Chair, Director | 1 | — |
| Nora Stroh | Vice Chair, Director | 10 | $11,000 |
| Mark Moreno | Director | 1 | — |
| Michael Duffy | Director | 10 | — |
| Steve Liega | Director. Secretary, Treasurer | 10 | $11,000 |
Subject Areas
Focus areas based on grantmaking activity
Frequently Asked Questions
What does The 54 Fund fund?
The foundation's primary program area is general investments and general support funding. The organization awards grants to support various community initiatives in the Stockton area.
How do I apply for a grant from The 54 Fund?
**Grant Activity:** • Awarded 86 grants in 2023 • Total giving: $272,500 (2023) • Average grant size: $3,200 • Median grant size: $2,300 **Recent Grantees (2023):** • United Way of San Joaquin County: $35,000 • Stockton Beautiful A Community Commitment: $26,500 • Support Stockton Police Foundation: $25,000 The foundation also made a $1,500 grant to the Chinese Cultural Society of Stockton in 2024 for general support.
Where does The 54 Fund make grants?
The foundation focuses its grantmaking on the Stockton, California area and San Joaquin County region.
What size grants does The 54 Fund award?
In 2024, The 54 Fund awarded 99 grants totaling $527K — an average of about $5K per grant, based on its IRS Form 990 filings.
How much is The 54 Fund required to give away each year?
Private foundations must generally distribute about 5% of their assets annually. For 2024, The 54 Fund reported a distributable amount of $719K on its IRS Form 990-PF — the minimum it must pay out in qualifying distributions.
What is The 54 Fund's EIN?
The 54 Fund's EIN (Employer Identification Number) is 87-1724276. IRS Form 990 filing data is available on this page for 2021–2024.
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Data last updated September 2026. Sourced from IRS Form 990-PF filings. Research dossier generated April 2026.