Somerset Isd Education Foundation
- Assets
- $450.6k
- Revenue
- $361.2k
- Investments
- $0.0
- Employees
- 0
- Location
- Somerset, TX
- Founding
- 12/2008
- Data as of
- 12/2022
- EIN
- 11-3841532
Organization Overview
Somerset Isd Education Foundation is located in Somerset, TX. The organization was established in 2008. According to its NTEE Classification (B90) the organization is classified as: Educational 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. Somerset Isd 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 12/2022, Somerset Isd Education Foundation generated $361.2k in total revenue. This organization has experienced exceptional growth, as over the past 8 years, it has increased revenue by an average of 16.4% each year . All expenses for the organization totaled $191.9k during the year ending 12/2022. While expenses have increased by 9.2% per year over the past 8 years. They've been increasing with an increasing level of total revenue. 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
2022
Describe the Organization's Mission:
Part 3 - Line 1
THE SOMERSET ISD EDUCATION FOUNDATIONS MISSION IS TO RAISE, MANAGE, AND DISTRIBUTE FUNDS FOR SCHOLARSHIPS AND OTHER EDUCATIONAL PROGRAMS FOR STUDENTS OF THE SOMERSET INDEPENDENT SCHOOL DISTRICT.
Describe the Organization's Program Activity:
Part 3 - Line 4a
GRANTS AND AWARDS GRANTED TO TEACHERS IN THE SOMERSET INDEPENDENT SCHOOL DISTRICT. AWARDS GRANTED TO ANCILLARY EMPLOYEES IN THE SOMERSET INDEPENDENT SCHOOL DISTRICT. AWARDS GRANTED FOR STUDENTS AND STAFF ATTENDANCE INCENTIVES.
STUDENT SUPPORT PROGRAM FOR STUDENTS IN THE SOMERSET INDEPENDENT SCHOOL DISTRICT ACTIVITIES INCLUDE 40,625 OF STUDENT SCHOLARSHIPS.
PROGRAM EVENTS FOR THE SOMERSET INDEPENDENT SCHOOL DISTRICT WHICH ARE SCHOOL YEAR KICK-OFF EVENT, ACADEMIC BANQUETS, AND SCHOOL YEAR ACTIVITY SUPPORT
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Susie Pool Executive Director | OfficerTrustee | 20 | $0 |
Rev Janna Hawes Board Member | Officer | 1 | $0 |
Roy Brown VP Finance | Officer | 5 | $0 |
Mark Hodges Board Member | Officer | 1 | $0 |
Frank Pruski Board Member | Officer | 1 | $0 |
Brad Balderrama Board Member | Officer | 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 | $321,463 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $321,463 |
| Total Program Service Revenue | $0 |
| Investment income | $1,136 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $1,859 |
| Net Income from Fundraising Events | $36,710 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $361,168 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $168,614 |
| 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. | $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 | $840 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $508 |
| Office expenses | $1,497 |
| Information technology | $1,140 |
| 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 | $0 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $1,335 |
| All other expenses | $16,747 |
| Total functional expenses | $191,932 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $317,126 |
| 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 | $133,496 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $450,622 |
| 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 | $219,459 |
| Net assets with donor restrictions | $231,163 |
| 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 | $450,622 |
Grants Recieved
Over the last fiscal year, we have identified 2 grants that Somerset Isd Education Foundation has recieved totaling $129,441.
| Awarding Organization | Amount |
|---|---|
San Antonio Area Foundation San Antonio, TX PURPOSE: GENERAL SUPPORT | $129,378 |
Amazonsmile Foundation Seattle, WA PURPOSE: GENERAL SUPPORT | $63 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Firstline Schools Inc New Orleans, LA | $25,158,781 | $60,437,770 |
Education Service Center Region Xii Of Texas Waco, TX | $21,686,581 | $37,093,935 |
New Meridian Corporation Austin, TX | $22,335,966 | $20,374,244 |
Belle Chasse Academy Inc Belle Chasse, LA | $29,416,847 | $17,545,847 |
Village Tech Schools Duncanville, TX | $32,290,922 | $14,785,373 |
Bexar County Performing Arts Center Foundation San Antonio, TX | $183,646,136 | $8,087,390 |
Leading Educators Inc New Orleans, LA | $10,160,201 | $9,461,961 |
Hispanic Association Of Colleges And Universities San Antonio, TX | $14,909,180 | $14,551,149 |
Passages America Israel Inc Allen, TX | $8,997,691 | $7,060,714 |
Extend-A-Care Inc Austin, TX | $4,350,683 | $9,102,758 |
Educate Girls Austin, TX | $42,960,470 | $14,126,525 |
Evolution Acadamy Richardson, TX | $15,542,643 | $6,925,248 |