Needham Education Foundation Inc is located in Needham, MA. The organization was established in 1990. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Needham 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 08/2021, Needham Education Foundation Inc generated $313.2k in total revenue. This organization has experienced exceptional growth, as over the past 6 years, it has increased revenue by an average of 11.7% each year . All expenses for the organization totaled $448.3k during the year ending 08/2021. While expenses have increased by 14.4% per year over the past 6 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
2021
Describe the Organization's Mission:
Part 3 - Line 1
THE NEEDHAM EDUCATION FOUNDATION IS AN INDEPENDENT COMMUNITY-BASED ORGANIZATION THAT RAISES FUNDS FOR THE ENRICHMENT OF PUBLIC SCHOOL CHILDREN IN NEEDHAM, MASS. WE FUND GRANTS THAT PROMOTE INNOVATION AND EXCELLENCE FROM PRE-KINDERGARTEN THROUGH HIGH SCHOOL.
Describe the Organization's Program Activity:
Part 3 - Line 4a
GRANTS ARE AWARDED TO SUPPLEMENT ELEMENTARY, MIDDLE, AND HIGH SCHOOL PROGRAMS AND STUDENTS.
Name (title) | Role | Hours | Compensation |
---|---|---|---|
Stephanie Wallace Treasurer | OfficerTrustee | 1 | $0 |
Margaret Shapiro Co-President | OfficerTrustee | 1 | $0 |
Jessica Clayson Co-President | OfficerTrustee | 1 | $0 |
Shelly Banal-Snow Director | Trustee | 0 | $0 |
Jennifer Collings Director | Trustee | 0 | $0 |
Elizabeth Craig Director | Trustee | 0 | $0 |
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 | $55,810 |
Noncash contributions included in lines 1a–1f | $0 |
Total Revenue from Contributions, Gifts, Grants & Similar | $55,810 |
Total Program Service Revenue | $13,080 |
Investment income | $60,927 |
Tax Exempt Bond Proceeds | $0 |
Royalties | $0 |
Net Rental Income | $0 |
Net Gain/Loss on Asset Sales | $159,208 |
Net Income from Fundraising Events | $24,130 |
Net Income from Gaming Activities | $0 |
Net Income from Sales of Inventory | $0 |
Miscellaneous Revenue | $0 |
Total Revenue | $313,155 |
Statement of Expenses | |
---|---|
Grants and other assistance to domestic organizations and domestic governments. | $419,275 |
Grants and other assistance to domestic individuals. | $0 |
Grants and other assistance to Foreign Orgs/Individuals | $0 |
Benefits paid to or for members | $0 |
Compensation of current officers, directors, key employees. | $11,623 |
Compensation of current officers, directors, key employees. | $0 |
Compensation to disqualified persons | $0 |
Other salaries and wages | $0 |
Pension plan accruals and contributions | $0 |
Other employee benefits | $0 |
Payroll taxes | $878 |
Fees for services: Management | $0 |
Fees for services: Legal | $0 |
Fees for services: Accounting | $1,300 |
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 | $1,593 |
Information technology | $3,750 |
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 | $141 |
Interest | $0 |
Payments to affiliates | $0 |
Depreciation, depletion, and amortization | $0 |
Insurance | $3,097 |
All other expenses | $244 |
Total functional expenses | $448,310 |
Balance Sheet | |
---|---|
Cash—non-interest-bearing | $14,155 |
Savings and temporary cash investments | $0 |
Pledges and grants receivable | $0 |
Accounts receivable, net | $0 |
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 | $0 |
Net Land, buildings, and equipment | $0 |
Investments—publicly traded securities | $1,760,236 |
Investments—other securities | $0 |
Investments—program-related | $0 |
Intangible assets | $0 |
Other assets | $0 |
Total assets | $1,774,391 |
Accounts payable and accrued expenses | $132 |
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 | $0 |
Unsecured mortgages and notes payable | $0 |
Other liabilities | $0 |
Total liabilities | $132 |
Net assets without donor restrictions | $1,774,259 |
Net assets with donor restrictions | $0 |
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 | $1,774,391 |
Over the last fiscal year, Needham Education Foundation Inc has awarded $160,802 in support to 2 organizations.
Grant Recipient | Amount |
---|---|
NEEDHAM PUBLIC SCHOOLS PURPOSE: GRANTS ARE AWARDED TO SUPPLEMENT ELEMENTARY, MIDDLE, AND HIGH SCHOOL PROGRAM | $160,187 |
HILLSIDE SCHOOL PTC PURPOSE: MOST LIKELY TO SUCCEED EVENT | $615 |
Over the last fiscal year, we have identified 3 grants that Needham Education Foundation Inc has recieved totaling $5,301.
Awarding Organization | Amount |
---|---|
Gerald & Judith Feldman Charitable Foundation Canton, MA PURPOSE: TO FOSTER & SUPPORT DONEE'S CHARITABLE MANDATE | $5,000 |
Fidelity Foundation Boston, MA PURPOSE: MATCHING GIFTS TO EDUCATION | $200 |
Amazonsmile Foundation Seattle, WA PURPOSE: GENERAL SUPPORT | $101 |
Organization Name | Assets | Revenue |
---|---|---|
Student Sponsor Partnership Inc New York, NY | $20,973,372 | $7,857,689 |
Walnut Hill Properties Corporation Medford, MA | $18,573,338 | $2,951,410 |
Needham Education Foundation Inc Needham, MA | $1,774,391 | $313,155 |
Justice Resource Center New York, NY | $2,558,797 | $417,469 |
Rural Education Action Project Montpelier, VT | $184,755 | $231,248 |
Mission Hill Community School Council Inc Boston, MA | $8,257 | $0 |
Ventures In Education Inc New York, NY | $561,548 | $31,324 |
Westchester County Association Of Municipal Public Works Scarsdale, NY | $134,412 | $0 |
Reid Fam Foundation Lockport, NY | $477,495 | $20,653 |
Billerica Partners For Education Inc Billerica, MA | $64,776 | $0 |
Business-Education Foundation Inc Bristol, CT | $102,128 | $38,516 |
Haverhill Education Foundation Inc Groveland, MA | $143,052 | $0 |