Needham Education Foundation Inc
- Assets
- $1.5m
- Revenue
- $169.5k
- Investments
- $0.0
- Employees
- 1
- Location
- Needham, MA
- Founding
- 09/1990
- Data as of
- 08/2023
- 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 08/2023, Needham Education Foundation Inc generated $169.5k in total revenue. This represents relatively stable growth, over the past 8 years the organization has increased revenue by an average of 0.6% each year. All expenses for the organization totaled $146.5k during the year ending 08/2023. 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
2023
Describe the Organization's Mission:
Part 3 - Line 1
THE NEF IS A COMMUNITY BASED ORGANIZATION THAT RAISES FUNDS FOR THE ENRICHMENT OF NEEDHAM (MA) PUBLIC SCHOOL STUDENTS.
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 |
Kate Distaso Director | Trustee | 0 | $0 |
David Linde Director | Trustee | 0 | $0 |
Aubrey Goodman Director | Trustee | 0 | $0 |
Margaret Shapiro Director | Trustee | 0 | $0 |
Jessica Clayson Co-President | OfficerTrustee | 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 | $39,371 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $39,371 |
| Total Program Service Revenue | $6,356 |
| Investment income | $60,947 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $37,043 |
| Net Income from Fundraising Events | $25,803 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $169,520 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $110,800 |
| 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. | $11,871 |
| 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 | $927 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $3,350 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $1,490 |
| Office expenses | $1,692 |
| Information technology | $3,974 |
| 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 | $255 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $3,284 |
| All other expenses | $0 |
| Total functional expenses | $146,527 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $10,005 |
| 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 | $1,524,276 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $1,534,281 |
| Accounts payable and accrued expenses | $636 |
| 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 | $636 |
| Net assets without donor restrictions | $1,533,645 |
| 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 | $1,534,281 |
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 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Student Sponsor Partnership Inc New York, NY | $26,288,524 | $9,399,138 |
Walnut Hill Properties Corporation Medford, MA | $20,647,441 | $3,380,483 |
Rural Education Action Project Montpelier, VT | $218,549 | $286,162 |
Justice Resource Center New York, NY | $2,377,382 | $448,533 |
Needham Education Foundation Inc Needham, MA | $1,534,281 | $169,520 |
Mission Hill Community School Council Inc Boston, MA | $8,257 | $0 |
Westchester County Association Of Municipal Public Works Scarsdale, NY | $117,997 | $0 |
Business-Education Foundation Inc Bristol, CT | $88,359 | $19,474 |
Ventures In Education Inc New York, NY | $543,022 | $16,275 |
Billerica Partners For Education Inc Billerica, MA | $56,506 | $0 |
Reid Fam Foundation Lockport, NY | $503,657 | $49,977 |
Haverhill Education Foundation Inc Groveland, MA | $1,005,794 | $914,160 |
Center For Youth & Community Inc Glastonbury, CT | $0 | $0 |
Cbia Education Foundation Inc Hartford, CT | $0 | $0 |