Hancock Community Education Foundation
- Assets
- $3.3m
- Revenue
- $496.3k
- Investments
- $0.0
- Employees
- 35
- Location
- Hancock, NY
- Founding
- 02/2000
- Data as of
- 06/2023
- EIN
- 16-1571509
Organization Overview
Hancock Community Education Foundation is located in Hancock, NY. The organization was established in 2000. According to its NTEE Classification (B82) the organization is classified as: Scholarships & Student Financial Aid, under the broad grouping of Education and related organizations. As of 06/2023, Hancock Community Education Foundation employed 35 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Hancock Community 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, Hancock Community Education Foundation generated $496.3k 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 (6.9%) each year. All expenses for the organization totaled $452.1k during the year ending 06/2023. 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
2023
Describe the Organization's Mission:
Part 3 - Line 1
EDUCATIONAL ASSISTANCE
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE FOUNDATION HAS COMPLETED A TEMPLATE FOR PROVIDING EDUCATIONAL INCENTIVES FOR STUDENTS IN THE HANCOCK, NY COMMUNITY TO INSTILL CONTINUED ACADEMIC EDUCATION FROM BIRTH TO COLLEGE GRADUATION. PROGRAMS OFFERED ARE: COLLEGE SCHOLARSHIPS FOR GRADUATING HIGH SCHOOL STUDENTS, VARIOUS AFTER SCHOOL PROGRAMS FOR GRADES K-4 AND 5-9, A CHILDREN'S CENTER, AND SUMMER ENRICHMENT PROGRAMS
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Julie Bergman Director | Trustee | 5 | $0 |
Evan Hall Director | Trustee | 5 | $0 |
Christine Deluca Lotto Director | Trustee | 5 | $0 |
John Hesse Director | Trustee | 5 | $0 |
Kristina Dufton Director | Trustee | 5 | $0 |
John Ogozalek Director | Trustee | 5 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $66,041 |
| All other contributions, gifts, grants, and similar amounts not included above | $318,834 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $384,875 |
| Total Program Service Revenue | $0 |
| Investment income | $73,063 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $369 |
| Net Income from Fundraising Events | $38,004 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $496,311 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $58,490 |
| 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 | $264,620 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $19,236 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $4,375 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $941 |
| Advertising and promotion | $2,422 |
| Office expenses | $1,544 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $2,853 |
| Travel | $1,383 |
| 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 | $15,571 |
| Insurance | $25,718 |
| All other expenses | $1,040 |
| Total functional expenses | $452,119 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $668,813 |
| 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 | $491,602 |
| Investments—publicly traded securities | $98,298 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $2,022,715 |
| Total assets | $3,281,428 |
| Accounts payable and accrued expenses | $8,080 |
| Grants payable | $55,000 |
| 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 | $63,080 |
| Net assets without donor restrictions | $1,244,648 |
| Net assets with donor restrictions | $1,973,700 |
| 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 | $3,281,428 |