Lexington Education Foundation
- Assets
- $2.8m
- Revenue
- $271.2k
- Investments
- $1.7m
- Employees
- 2
- Location
- Lexington, MA
- Founding
- 12/1993
- Data as of
- 06/2023
- 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. As of 06/2023, Lexington Education Foundation employed 2 individuals. 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 06/2023, Lexington Education Foundation generated $271.2k in total revenue. This represents a relatively dramatic decline in revenue. Over the past 8 years, the organization has seen revenues fall by an average of (6.3%) each year. All expenses for the organization totaled $231.5k during the year ending 06/2023. As we would expect to see with falling revenues, expenses have declined by (2.6%) per year over the past 8 years. You can explore the organizations financials more deeply in the financial statements section below.
Since 2015, Lexington Education Foundation has awarded 27 individual grants totaling $1,904,624. 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
2023
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.
SCHOOL COMMUNITY GRANT $14,582 OTHER EDUCATIONAL SUPPORT 794 ------- SUBTOTAL $15,376
FELLOWSHIPS
RAPID RESPONSE GRANT
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Gina Capone Director | Trustee | 4 | $0 |
Keri Caron Director | Trustee | 4 | $0 |
Sarah Carter Director | Trustee | 4 | $0 |
Nicole Coelho Co- President | OfficerTrustee | 12 | $0 |
Carolyn Coppe Peacock Co-President | OfficerTrustee | 12 | $0 |
Kate Criniti Director | Trustee | 4 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $595 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $172,690 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $173,285 |
| Total Program Service Revenue | $0 |
| Investment income | $76,065 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | $21,860 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $271,230 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $79,872 |
| Grants and other assistance to domestic individuals. | $44,143 |
| 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 of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $16,500 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $1,259 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $6,557 |
| 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 | $777 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $9,300 |
| 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 | $1,616 |
| All other expenses | $67,117 |
| Total functional expenses | $231,505 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $83,140 |
| Savings and temporary cash investments | $454,269 |
| 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 | $530,084 |
| Investments—other securities | $1,694,973 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $2,762,466 |
| Accounts payable and accrued expenses | $133,461 |
| 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 | $2,385 |
| Total liabilities | $135,846 |
| Net assets without donor restrictions | $2,616,620 |
| Net assets with donor restrictions | $10,000 |
| 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 | $2,762,466 |
Grants Awarded
Over the last fiscal year, Lexington Education Foundation has awarded $123,221 in support to 4 organizations.
| Grant Recipient | Amount |
|---|---|
LEXINGTON PUBLIC SCHOOL SYSTEM PURPOSE: Fellowships | $44,143 |
LEXINGTON PUBLIC SCHOOL SYSTEM PURPOSE: Program Grants | $47,415 |
LEXINGTON PUBLIC SCHOOL SYSTEM PURPOSE: Rapid Response Grant | $17,081 |
LEXINGTON PUBLIC SCHOOL SYSTEM PURPOSE: School Community Grant | $14,582 |