Needham Education Foundation Inc
- Assets
- $1.8m
- Revenue
- $313.2k
- Investments
- $0.0
- Employees
- 1
- Location
- Needham, MA
- Founding
- 09/1990
- Data as of
- 08/2021
- EIN
- 04-3088148
Organization Overview
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.
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Board, Officers & Key Employees
| 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 |
Carolyn Crotty Guttilla Director | Trustee | 0 | $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 | $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 |
Grants Awarded
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 |
Grants Recieved
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 |
Peer Organizations
| 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 |