Lexington Education Foundation
- Assets
- $2.8m
- Revenue
- $458.4k
- Investments
- $1.8m
- Employees
- 0
- Location
- Lexington, MA
- Founding
- 12/1993
- Data as of
- 06/2021
- EIN
- 04-3164996
Organization Overview
Lexington Education Foundation is located in Lexington, MA. The organization was established in 1993. According to its NTEE Classification (B12) the organization is classified as: Fund Raising & Fund Distribution, 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. Lexington Education Foundation 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 06/2021, Lexington Education Foundation generated $458.4k in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 0.1% each year. All expenses for the organization totaled $280.3k during the year ending 06/2021. You can explore the organizations financials more deeply in the financial statements section below.
Since 2015, Lexington Education Foundation has awarded 18 individual grants totaling $1,384,049. If you would like to learn more about the grant giving history of this organization, scroll down to the grant profile section of this page.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2021
Describe the Organization's Mission:
Part 3 - Line 1
. LEXINGTON EDUCATION FOUNDATION IS AN INDEPENDENT 501(C)(3) CHARITABLE ORGANIZATION DEDICATED TO FUNDING TEACHER-INITIATED GRANTS THAT SUSTAIN THE EXCELLENCE OF THE LEXINGTON
Describe the Organization's Program Activity:
Part 3 - Line 4a
LEF PROGRAM GRANTS FUND DYNAMIC CLASSROOM AND CURRICULUM PROJECTS, AS WELL AS PROFESSIONAL DEVELOPMENT OPPORTUNITIES FOR EDUCATORS. PROGRAM GRANTS ARE AVAILABLE TO TEACHERS, STAFF, ADMINISTRATORS AND COMMUNITY MEMBERS. THE GRANT APPLICATION PROCESS REQUIRES EACH APPLICANT TO DETAIL HOW GRANT ACTIVITIES ARE EXPECTED TO BENEFIT THE STUDENTS OF LEXINGTON. GRANTS HAVE BEEN AWARDED TO ALL GRADE LEVELS AND IN ALL DISCIPLINES, INCLUDING THE ARTS, SCIENCES, LITERACY, PHYSICAL EDUCATION, TEACHER MENTORING, AND SOCIAL COMPETENCY. THE GOAL OF LEF PROGRAM GRANTS IS TO ENHANCE THE LEARNING OF STUDENTS AND TEACHERS.
FELLOWSHIPS
SCHOOL COMMUNITY GRANT
OTHER EDUCATIONAL SUPPORT: A. COVID-19 MANAGEMENT FUND $55,033 B. LEXINGTON CONVERSATION $10,000 ------- TOTAL: $65,033
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Patrice Cleaves Co-President | OfficerTrustee | 15 | $0 |
Raquel Leder Co-President | OfficerTrustee | 15 | $0 |
Carolyn Coppe Peacock Deputy Co-President | OfficerTrustee | 8 | $0 |
Alyson Nickse Clerk | OfficerTrustee | 8 | $0 |
Usha Thakrar Co-Treasurer | OfficerTrustee | 8 | $0 |
Julia Weng Co-Treasurer | OfficerTrustee | 8 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Total Revenue from Contributions, Gifts, Grants & Similar | $244,166 |
| Investment income | $76,359 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $117,834 |
| Net Income from Fundraising Events | $20,027 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $458,386 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic individuals. | $16,651 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $17,550 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $1,499 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $6,293 |
| 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 | $16 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $12,975 |
| 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 | $0 |
| Insurance | $2,234 |
| All other expenses | $0 |
| Total functional expenses | $280,319 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $21,666 |
| Savings and temporary cash investments | $489,334 |
| 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 | $850 |
| Investments—publicly traded securities | $495,578 |
| Investments—other securities | $1,842,476 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $2,849,904 |
| Accounts payable and accrued expenses | $95,116 |
| 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 | $95,116 |
| Net assets without donor restrictions | $0 |
| 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 |
| Total liabilities and net assets/fund balances | $2,754,788 |
Grants Awarded
Over the last fiscal year, Lexington Education Foundation has awarded $201,915 in support to 4 organizations.
| Grant Recipient | Amount |
|---|---|
LEXINGTON PUBLIC SCHOOL SYSTEM PURPOSE: School Program Grants | $120,211 |
LEXINGTON PUBLIC SCHOOL SYSTEM PURPOSE: COVID-19 Management Fund | $55,053 |
LEXINGTON PUBLIC SCHOOL SYSTEM PURPOSE: Fellowships | $16,651 |
LEXINGTON PUBLIC SCHOOL SYSTEM PURPOSE: Lexington Conversation | $10,000 |
Grants Recieved
Over the last fiscal year, we have identified 8 grants that Lexington Education Foundation has recieved totaling $7,759.
| Awarding Organization | Amount |
|---|---|
Stoddard Charitable Trust Worcester, MA PURPOSE: SC GRANT-ANDREW FLETCHER & KATIE GUI | $2,500 |
Ciccolo Family Foundation Inc Boston, MA PURPOSE: GENERAL, EDUCATIONAL AND CHARITABLE PURPOSES | $2,500 |
Taylor Fam Foundation New York, NY PURPOSE: UNRESTRICTED GIFT | $1,000 |
Cambridge Savings Charitable Foundation Inc Cambridge, MA PURPOSE: EXEMPT PURPOSE | $1,000 |
Eastern Bank Charitable Foundation Lynn, MA PURPOSE: EXEMPT PURPOSE | $250 |
Pfizer Foundation Inc New York, NY PURPOSE: MATCHING GIFTS | $200 |
Endowment Analysis
| Beg. Balance | $2,266,918 |
| Earnings | $548,939 |
| Admin Expense | $51 |
| Net Contributions | $4,322 |
| Grants | $100,000 |
| Ending Balance | $2,720,128 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Fund For Public Schools Inc New York, NY | $69,123,846 | $27,701,638 |
National Collegiate Inventors & Innovators Alliance Hadley, MA | $19,763,432 | $45,805,073 |
Ernst & Young Foundation New York, NY | $39,971,970 | $27,635,064 |
Kipp New York Inc New York, NY | $134,718,837 | $36,118,873 |
Nellie Mae Education Foundation Inc Quincy, MA | $585,493,964 | $94,584,276 |
Say Yes Buffalo Scholarship Inc Buffalo, NY | $26,879,466 | $14,014,941 |
The Heckscher Foundation For Children New York, NY | $236,760,119 | $11,760,357 |
United Federation Of Teachers Educational Foundation Inc New York, NY | $18,651,586 | $11,866,585 |
Caroline & Joseph S Gruss Life Monument Funds Inc New York, NY | $48,124,527 | $2,679,769 |
Five Colleges Incorporated Amherst, MA | $34,378,872 | $10,361,692 |
Suny Impact Foundation Inc New York, NY | $1,805,430 | $8,847,404 |
Poughkeepsie Public School Teachers Asso Trust Fund Poughkeepsie, NY | $14,239,734 | $11,580,276 |