Nantucket Education Trust Inc

Organization Overview

Nantucket Education Trust Inc is located in Nantucket, MA. The organization was established in 1993. According to its NTEE Classification (T99) the organization is classified as: Philanthropy, Voluntarism & Grantmaking Foundations N.E.C., under the broad grouping of Philanthropy, Voluntarism & Grantmaking Foundations and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Nantucket Education Trust 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 12/2022, Nantucket Education Trust Inc generated $327.6k in total revenue. This represents relatively stable growth, over the past 8 years the organization has increased revenue by an average of 0.9% each year. All expenses for the organization totaled $222.0k during the year ending 12/2022. You can explore the organizations financials more deeply in the financial statements section below.

Mission & Program ActivityExcerpts From the 990 Filing

TAX YEAR

2022

Describe the Organization's Mission:

Part 3 - Line 1

THE NANTUCKET EDUCATION TRUST'S MISSION IS THREE-FOLD: TO GENERATE PRIVATE SUPPORT FOR PUBLIC EDUCATION ON NANTUCKET; TO FOSTER PRIVATE AND PUBLIC PARTNERSHIPS THAT BENEFIT THE CHILDREN OF NANTUCKET PUBLIC SCHOOLS; AND TO HONOR EXCELLENCE IN TEACHING AND LEARNING.

Describe the Organization's Program Activity:

Part 3 - Line 4a

BUILD AND MAINTAIN 12 RENTAL HOUSING UNITS FOR THE BENEFIT OF TEACHERS AND SCHOOL STAFF.


PROVIDE EDUCATIONAL PROGRAMS IN THE NANTUCKET PUBLIC SCHOOL SYSTEM INCLUDING PURCHASE OF EQUIPMENT, PAYMENT OF SALARIES & GRANTS FOR TEACHERS, SPONSORSHIP OF LECTURES, SEMINARS AND WORKSHOPS, AND PARTICIPATION IN THE SATELLITE PROGRAMS COORDINATED BY THE SCHOOL.


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Board, Officers & Key Employees

Name (title)Compensation
Pauline Proch
Former President
$0
John Riccio
Treasurer
$0
William Michael Cozort
President
$0
Tracy Nichols
Co-Clerk
$0
Hadley Dutra
Co-Clerk
$0
Martin Anguelov
Director/bookkeeper
$4,800

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$3,500
Noncash contributions included in lines 1a–1f $0
Total Revenue from Contributions, Gifts, Grants & Similar$3,500
Total Program Service Revenue$307,900
Investment income $10,723
Tax Exempt Bond Proceeds $0
Royalties $0
Net Rental Income $0
Net Gain/Loss on Asset Sales $5,506
Net Income from Fundraising Events $0
Net Income from Gaming Activities $0
Net Income from Sales of Inventory $0
Miscellaneous Revenue$0
Total Revenue $327,629

Grants Awarded

Over the last fiscal year, Nantucket Education Trust Inc has awarded $41,721 in support to 2 organizations.

Grant RecipientAmount

NANTUCKET PUBLIC SCHOOL DISTRICT

PURPOSE: EDUCATION SUPPORT

$31,721

MASS INSIGHT EDUCATION

PURPOSE: EDUCATION SUPPORT

$10,000
View Grant Profile

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