Achievement Foundation Inc

Organization Overview

Achievement Foundation Inc is located in Watertown, CT. The organization was established in 1947. According to its NTEE Classification (B99) the organization is classified as: Education N.E.C., 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. Achievement Foundation 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 06/2022, Achievement Foundation Inc generated $450.8k in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 9.4% each year. All expenses for the organization totaled $288.3k during the year ending 06/2022. While expenses have increased by 7.5% per year over the past 7 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.

Since 2015, Achievement Foundation Inc has awarded 68 individual grants totaling $1,173,000. 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.

Mission & Program ActivityExcerpts From the 990 Filing

TAX YEAR

2022

Describe the Organization's Mission:

Part 3 - Line 1

THE ACHIEVEMENT FOUNDATION, BY USING ITS FINANCIAL RESOURCES, DEDICATES ITSELF TO DEVELOPING A BETTER UNDERSTANDING OF THE FREE ENTERPRISE SYSTEM BY YOUNG PEOPLE. THE ACHIEVEMENT FOUNDATION MAKES GRANTS TO OTHER NONPROFIT ORGANIZATIONS IN SUPPORT OF THE FOUNDATION'S MISSION, MAKES LOANS TO JUNIOR ACHIEVEMENT AREAS IN FINANCIAL NEED, AND MAKES SCHOLARSHIPS TO STUDENTS WHO HAVE COMPLETED JUNIOR ACHIEVEMENT PROGRAMS.

Describe the Organization's Program Activity:

Part 3 - Line 4a

THE FOUNDATION MAKES GRANTS TO NONPROFIT ORGANIZATIONS WHICH DEVELOP A BETTER UNDERSTANDING OF THE FREE ENTERPRISE SYSTEM IN YOUNG PEOPLE. THE FOUNDATION AWARDS GRANTS TO JUNIOR ACHIEVEMENT AREAS FOR NEW AND INNOVATIVE PROGRAMS AND PROGRAMS SERVING URBAN OR OTHER POORER POPULATIONS.


THE FOUNDATION MAKES LOANS TO SPECIFIC JUNIOR ACHIEVEMENT PROGRAMS IN FINANCIAL NEED. THESE LOANS ARE REPAID AT NO INTEREST IF THE LOANS ARE REPAID ACCORDING TO THE AGREED UPON SCHEDULE. DURING 2020 THE COVID-19 PANDEMIC CAUSED MANY JUNIOR ACHIEVEMENTAREAS TO EXPERIENCE FINANCIAL STRESS. AS A RESULT OF THIS, THE ACHIEVEMENT FOUNDATION MADE 32 LOANS TO THOSE AREAS TOTALING $1,680,315. $1,335,315 OF THE LOANS WERE FUNDED IN 2020 WITH THE REMAINING $345,000 FUNDED IN 2021. THERE WERE NO NEW LOANS MADE IN 2022.


THE FOUNDATION MAKES TWO SCHOLARSHIP PROGRAMS AVAILABLE TO GRADUATES OF JUNIOR ACHIEVEMENT HIGH SCHOOL PROGRAMS.


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Board, Officers & Key Employees

Name (title)Compensation
Kurt Snyder
Chairman
$0
Jim Hemak
Treasurer
$0
R Chadwick Paul Jr
Secretary
$0
Mike Hannigan Jr
Board Member
$0
Chris White
Board Member
$0
Norman Fleming
Board Member
$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$18,496
Noncash contributions included in lines 1a–1f $0
Total Revenue from Contributions, Gifts, Grants & Similar$18,496
Total Program Service Revenue$0
Investment income $54,633
Tax Exempt Bond Proceeds $0
Royalties $0
Net Rental Income $0
Net Gain/Loss on Asset Sales $377,683
Net Income from Fundraising Events $0
Net Income from Gaming Activities $0
Net Income from Sales of Inventory $0
Miscellaneous Revenue$0
Total Revenue $450,812

Grants Awarded

Over the last fiscal year, Achievement Foundation Inc has awarded $257,500 in support to 13 organizations.

Grant RecipientAmount

JA OF ARKANSAS

PURPOSE: SUPPORT OF EDUCATIONAL PROGRAMS

$20,000

JA OF CHICAGO

PURPOSE: SUPPORT OF EDUCATIONAL PROGRAMS

$20,000

JA OF CENTRAL TEXAS

PURPOSE: SUPPORT OF EDUCATIONAL PROGRAMS

$20,000

JA OF DELAWARE INC

PURPOSE: SUPPORT OF EDUCATIONAL PROGRAMS

$20,000

JA OF GREATER WASHINGTON

PURPOSE: SUPPORT OF EDUCATIONAL PROGRAMS

$20,000

JA OF GREATER HAMPTON ROADS

PURPOSE: SUPPORT OF EDUCATIONAL PROGRAMS

$20,000
View Grant Profile

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