Newport News Educational Foundation
- Assets
- $210.1k
- Revenue
- $37.2k
- Investments
- $0.0
- Employees
- 0
- Location
- Newport News, VA
- Founding
- 07/2002
- Data as of
- 06/2024
- EIN
- 04-3597390
Organization Overview
Newport News Educational Foundation is located in Newport News, VA. The organization was established in 2002. According to its NTEE Classification (B80) the organization is classified as: Student Services, 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. Newport News Educational 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 06/2024, Newport News Educational Foundation generated $37.2k in total revenue. This represents a relatively dramatic decline in revenue. Over the past 5 years, the organization has seen revenues fall by an average of (28.5%) each year. All expenses for the organization totaled $46.9k during the year ending 06/2024. 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
2024
Describe the Organization's Mission:
Part 3 - Line 1
THE FOUNDATION'S MISSION IS TO SUPPORT THE NEWPORT NEWS SCHOOL BOARD AND THE NEWPORT NEWS PUBLIC SCHOOL DIVISION IN THEIR EFFORTS TO PREPARE STUDENTS TO ENTER THE WORLD OF WORK WITH THE SKILLS AND KNOWLEDGE THAT WILL ENABLE THEM TO COMPETE SUCCESSFULLY IN THEIR CHOSEN EDUCATIONAL, CAREER AND LIFE ENDEAVORS. THE FOUNDATION IS ESTABLISHED FOR THE EXPRESS PURPOSE OF IMPLEMENTING A PUBLIC/PRIVATE PARTNERSHIP TO IMPLEMENT PUBLIC SCHOOL IMPROVEMENT PROJECTS APPROVED BY THE LOCAL SCHOOL BOARD.
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE WAYNE D. LETT SCHOLARSHIP PROGRAM IS A MERIT-BASED AWARD TO A NEWPORT NEWS SCHOOL SENIOR WHO PLANS TO BECOME A PUBLIC SCHOOL TEACHER. THE PROGRAM IS ADMINISTERED BY THE FOUNDATION AS A TRIBUTE TO WAYNE D. LETT, A FORMER SUPERINTENDENT OF THE NNPS. THE RECIPIENT MUST COMMIT TO TEACH IN NEWPORT NEWS FOR THREE CONSECUTIVE YEARS AFTER GRADUATION.
THE FOUNDATION OFFERS CLASSROOM MINI-GRANTS OF $50 - $500 FOR NEWPORT NEWS PUBLIC SCHOOL TEACHERS. MINI-GRANTS PROVIDE SEED MONEY FOR INNOVATIVE CLASSROOM INITIATIVES THAT ENRICH THE EDUCATIONAL EXPERIENCE FOR STUDENTS. DURING FISCAL YEAR 2024, THE FOUNDATION ALSO SPONSORED THE ALL CITY BAND EXPO.
SALUTE TO SUCCESS - THE FOUNDATION HONORS AND CELEBRATES THE RESILIENCE AND PERSERVERANCE OF NNPS TOP STUDENTS WHO HAVE MADE EXTRAORDINARY ACCOMPLISHMENTS TOWARDS THE GOALS OF BECOMING COLLEGE, CAREER AND CITIZEN READY
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Dr Nicole Guajardo President | OfficerTrustee | 1 | $0 |
Sharon Martin President Elect | OfficerTrustee | 1 | $0 |
Rhonda Bell Vice President | OfficerTrustee | 1 | $0 |
Hugh Barlow Treasurer | OfficerTrustee | 1 | $0 |
Sylvia Weinstein Craft Secretary | OfficerTrustee | 1 | $0 |
Dr Michelle Mitchell Superintendent Of Schools | Trustee | 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 | $20,796 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $20,796 |
| Total Program Service Revenue | $0 |
| Investment income | $5,365 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | $11,027 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $37,188 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $7,935 |
| 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 | $0 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $0 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $0 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $1,039 |
| Advertising and promotion | $0 |
| Office expenses | $939 |
| Information technology | $0 |
| 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 | $370 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $256 |
| All other expenses | $0 |
| Total functional expenses | $46,881 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $210,147 |
| 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 | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $210,147 |
| Accounts payable and accrued expenses | $0 |
| 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 | $0 |
| 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 |
| Retained earnings, endowment, accumulated income, or other funds | $210,147 |
| Total liabilities and net assets/fund balances | $210,147 |