Dare County Education Foundation Inc
- Assets
- $3.0m
- Revenue
- $470.2k
- Investments
- $0.0
- Employees
- 1
- Location
- Kitty Hawk, NC
- Founding
- 09/2002
- Data as of
- 06/2022
- EIN
- 01-0597318
Organization Overview
Dare County Education Foundation Inc is located in Kitty Hawk, NC. The organization was established in 2002. According to its NTEE Classification (B80) the organization is classified as: Student Services, under the broad grouping of Education and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Dare County Education Foundation Inc is a 501(c)(3) and as such, is described as a "Charitable or Religous organization or a private foundation" by the IRS.
For the year ending 06/2022, Dare County Education Foundation Inc generated $470.2k in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 1.1% each year. All expenses for the organization totaled $434.9k during the year ending 06/2022. While expenses have increased by 5.5% per year over the past 7 years. They've been increasing with an increasing level of total revenue. You can explore the organizations financials more deeply in the financial statements section below.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2022
Describe the Organization's Mission:
Part 3 - Line 1
OUR MISSION IS TO MAKE GREAT IDEAS IN EDUCATION COME TO LIFE BY FUNDING INITIATIVES THAT ENHANCE THE EXPERIENCES OF STUDENTS AND TEACHERS IN DARE COUNTY
Describe the Organization's Program Activity:
Part 3 - Line 4a
PROVIDE AFFORDABLE HOUSING FOR TEACHERS AND / OR OTHER DARE COUNTY SCHOOLS EMPLOYEES THROUGH 36 RENTAL UNITS MANAGED BY THE ORGANIZATION.
PROVIDES GRANTS TO DARE COUNTY SCHOOLS FOR EDUCATOR-DRIVEN PROJECTS THAT FALL OUTSIDE OF SCHOOL BUDGETS.
PROVIDES NEED-BASED COLLEGE SCHOLARSHIPS TO LOW-INCOME, HIGH ACHIEVING, AND AVID-ENROLLED STUDENTS IN DARE COUNTY SCHOOLS.
PROVIDES FUNDS TO TEACHERS IN DARE COUNTY SCHOOLS FOR PROFESSIONAL DEVELOPMENT OPPORTUNITIES, CERTIFICATIONS, AND ADVANCED DEGREES.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Barbara Davidson Executive Director | Officer | 40 | $60,459 |
Sam Cortez Chairperson | Officer | 1 | $0 |
Mary Robinson Vice Chair | Officer | 1 | $0 |
Benj Lipchak Treasurer | Officer | 1 | $0 |
Jessica Loose Secretary | Officer | 1 | $0 |
Joe Tauber Member | Trustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $107,568 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $107,568 |
| Total Program Service Revenue | $357,980 |
| Investment income | $4,667 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $470,215 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $58,730 |
| Grants and other assistance to domestic individuals. | $49,191 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $60,459 |
| Compensation of current officers, directors, key employees. | $6,046 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $0 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $5,298 |
| Fees for services: Management | $2,575 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $9,277 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $0 |
| Office expenses | $1,354 |
| Information technology | $2,976 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $95,881 |
| Insurance | $302 |
| All other expenses | $430 |
| Total functional expenses | $434,938 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $488,466 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $1,003 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $5,980 |
| Net Land, buildings, and equipment | $2,409,039 |
| Investments—publicly traded securities | $101,834 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $3,006,322 |
| Accounts payable and accrued expenses | $40,544 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| Tax-exempt bond liabilities | $0 |
| Escrow or custodial account liability | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $509,793 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $0 |
| Total liabilities | $550,337 |
| Net assets without donor restrictions | $2,263,454 |
| Net assets with donor restrictions | $192,531 |
| Capital stock or trust principal, or current funds | $0 |
| Paid-in or capital surplus, or land, building, or equipment fund | $0 |
| Retained earnings, endowment, accumulated income, or other funds | $0 |
| Total liabilities and net assets/fund balances | $3,006,322 |
Grants Recieved
Over the last fiscal year, we have identified 2 grants that Dare County Education Foundation Inc has recieved totaling $27,030.
| Awarding Organization | Amount |
|---|---|
Z Smith Reynolds Foundation Inc Winstonsalem, NC PURPOSE: CULTURAL COMPETENCE FOR SCHOOL LEADERS IN DARE COUNTY SCHOOLS PROJECT | $27,000 |
Amazonsmile Foundation Seattle, WA PURPOSE: GENERAL SUPPORT | $30 |
Endowment Analysis
| Beg. Balance | $107,899 |
| Earnings | -$17,065 |
| Net Contributions | $11,000 |
| Ending Balance | $101,834 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
National College Advising Corps Inc Chapel Hill, NC | $20,327,206 | $21,685,877 |
Tennessee State Collaborative On Reforming Education Nashville, TN | $23,375,202 | $18,088,323 |
Cameron Foundation Petersburg, VA | $170,387,931 | $14,350,568 |
Youth Educational Services Inc Tucker, GA | $1,618,316 | $5,042,597 |
Meridian Education Resource Group Inc Atlanta, GA | $7,961,644 | $4,980,107 |
Virginia Tech Services Inc Blacksburg, VA | $8,676,644 | $3,908,616 |
Student U Durham, NC | $9,122,297 | $4,911,286 |
Technology Student Association Reston, VA | $4,030,587 | $3,611,530 |
Petersburg Library Foundation Inc Petersburg, VA | $154,347 | $1,622,780 |
The University Of Virginias College At Wise Foundation Inc Wise, VA | $42,097,023 | $1,930,622 |
National Technical Honor Society Flat Rock, NC | $2,944,841 | $1,721,548 |
E-Polk Tryon, NC | $1,902,633 | $1,526,655 |