Securing Assets For Education
- Assets
- $221.7m
- Revenue
- $7.8m
- Investments
- $0.0
- Employees
- 0
- Location
- Moncks Corner, SC
- Founding
- 07/2006
- Data as of
- 06/2021
- EIN
- 20-0381906
Organization Overview
Securing Assets For Education is located in Moncks Corner, SC. The organization was established in 2006. According to its NTEE Classification (B11) the organization is classified as: Single Organization Support, 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. Securing Assets For Education 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 06/2021, Securing Assets For Education generated $7.8m in total revenue. This represents a relatively dramatic decline in revenue. Over the past 6 years, the organization has seen revenues fall by an average of (4.1%) each year. All expenses for the organization totaled $8.4m during the year ending 06/2021. As we would expect to see with falling revenues, expenses have declined by (2.9%) per year over the past 6 years. 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
2021
Describe the Organization's Mission:
Part 3 - Line 1
ORGANIZED TO CONSTRUCT AND RENOVATE BERKELEY COUNTY SCHOOL DISTRICT FACILITIES
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE ARTICLES OF INCORPORATION AND BYLAWS OF THE TAXPAYER PROVIDE THAT THE TAXPAYER HAS BEEN ORGANIZED EXCLUSIVELY TO (1) ACQUIRE, CONSTRUCT, FINANCE, PLEDGE, IMPROVE, MAINTAIN, OPERATE, MANAGE, LEASE, AND DISPOSE OF SCHOOL BUILDINGS AND OTHER PUBLIC EDUCATION FACILITIES FOR THE USE AND BENEFIT OF THE BERKELEY COUNTY SCHOOL DISTRICT AND (2) ENCOURAGE AND PROMOTE PUBLIC EDUCATION THROUGH COOPERATIVE ARRANGEMENTS WITH GOVERNMENTAL ENTITIES AND ORGANIZATIONS EXEMPT UNDER SEC. 501(C)(3) OF THE INTERNAL REVENUE CODE THAT PROVIDES PUBLIC EDUCATION IN BERKELEY COUNTY, SC.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Shawan Gillians President | OfficerTrustee | 0.1 | $0 |
Lisa Kerns Secretary/treasurer | OfficerTrustee | 0.1 | $0 |
Wesley Porter Director | Trustee | 0.1 | $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 | $0 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $0 |
| Total Program Service Revenue | $7,773,990 |
| Investment income | $524 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $7,774,514 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| 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 | $0 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $0 |
| Office expenses | $0 |
| 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 | $0 |
| Interest | $8,278,757 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $0 |
| All other expenses | $125,753 |
| Total functional expenses | $8,404,510 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $17,600 |
| 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 | $5,051 |
| Intangible assets | $0 |
| Other assets | $221,671,000 |
| Total assets | $221,693,651 |
| Accounts payable and accrued expenses | $0 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| Tax-exempt bond liabilities | $221,671,000 |
| 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 | $712,692 |
| Total liabilities | $222,383,692 |
| Net assets without donor restrictions | $0 |
| Net assets with donor restrictions | $0 |
| Capital stock or trust principal, or current funds | -$690,041 |
| 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 | $221,693,651 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
The Lord Foundation Of North Carolina Durham, NC | $23,094,681 | $641,441 |
University Of North Carolina At Greensboro Investment Fund Inc Greensboro, NC | $369,290,686 | $22,759,163 |
Building Equity Sooner For Tomarrow Greenville, SC | $493,697,004 | $17,744,355 |
Appalachian State University Foundation Inc Boone, NC | $159,413,962 | $18,404,104 |
University Of North Carolina Chapel Hill Arts And Sciences Foundation Chapel Hill, NC | $518,992,807 | $33,231,064 |
Georgia Tech Facilities Inc Atlanta, GA | $407,064,936 | $14,504,049 |
The Foundation Of The University Of North Carolina At Charlotte Inc Charlotte, NC | $296,107,277 | $34,157,132 |
College Of Charleston Foundation Charleston, SC | $165,475,152 | $11,402,265 |
Medical College Of Georgia Foundation Inc Augusta, GA | $352,081,028 | $12,607,438 |
East Carolina University Foundation Inc Greenville, NC | $186,990,398 | $28,752,906 |
Crossnore School Childrens Foundation Crossnore, NC | $37,541,780 | $0 |
James B Hunt Jr Institute For Educational Leadership And Policy Cary, NC | $11,369,627 | $8,988,543 |