Greenwich Alliance For Educationfoundation Inc
- Assets
- $846.8k
- Revenue
- $598.6k
- Investments
- $0.0
- Employees
- 1
- Location
- Greenwich, CT
- Founding
- 09/2006
- Data as of
- 06/2021
- EIN
- 20-4356460
Organization Overview
Greenwich Alliance For Educationfoundation Inc is located in Greenwich, CT. The organization was established in 2006. According to its NTEE Classification (B82) the organization is classified as: Scholarships & Student Financial Aid, 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. Greenwich Alliance For Educationfoundation 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 06/2021, Greenwich Alliance For Educationfoundation Inc generated $598.6k in total revenue. This represents relatively stable growth, over the past 6 years the organization has increased revenue by an average of 9.6% each year. All expenses for the organization totaled $513.7k during the year ending 06/2021. While expenses have increased by 8.2% per year over the past 6 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
2021
Describe the Organization's Mission:
Part 3 - Line 1
THE GREENWICH ALLIANCE FOR EDUCATION INC. WAS FORMED IN 2006 AS THE LOCAL EDUCATION FOUNDATION SUPPORTING STUDENTS IN GREENWICH PUBLIC SCHOOLS. IT PROVIDES FUNDING FOR INNOVATION, EXPANDING OPPORTUNITIES AND INSPIRING EDUCATORS. THE ORGANIZATION HAS ITS MISSION AS AN ALLIANCE THAT MOBILIZES COMMUNITY RESOURCES TO PROVIDE OPPORTUNITIES AND SERVICES THAT FOSTER EDUCATIONAL SUCCESS FOR ALL GREENWICH PUBLIC SCHOOLS STUDENTS.
Describe the Organization's Program Activity:
Part 3 - Line 4a
SCHOLARSHIP FUND - THE ORGANIZATION PROVIDES ADVANCEMENT VIA INDIVIDUAL DETERMINATION STUDENTS (AVID STUDENTS), SUPPORT IN THE FORM OF ADDITIONAL FINANCIAL AID, TO HELP THEM COMPLETE THEIR COLLEGE EDUCATION. AVID STUDENTS INCLUDE STUDENTS FROM GROUPS TRADITIONALLY UNDERREPRESENTED ON COLLEGE CAMPUSES, WHO HAVE GREAT ACADEMIC POTENTIAL. THE PROGRAM GIVES GIFT CARDS TO PURCHASE BOOKS AND SUPPLIES FOR THEIR FRESHMAN YEAR IN COLLEGE. BEGINNING IN THEIR SOPHOMORE YEAR OF COLLEGE AND CONTINUING THROUGH TO THEIR SENIOR YEAR, STUDENTS APPLY FOR SCHOLARSHIPS.
TUNING IN TO MUSIC (TITM) - THE ORGANIZATION HAS FORMED A PARTNERSHIP WITH GREENWICH PUBLIC SCHOOLS MUSIC EDUCATORS AND THE CONNECTICUT SCHOOL OF MUSIC. THE CORE STRATEGY OF THIS PROGRAM IS TO SUPPORT DEDICATED STUDENTS, NOMINATED BY GREENWICH PUBLIC SCHOOL MUSIC TEACHERS, IN GRADES 4 -12, WHO COULD NOT OTHERWISE AFFORD THIS OPPORTUNITY, TO RECEIVE PRIVATE, SEMI-PRIVATE, OR ORCHESTRA STYLE LESSONS WITH THE CONNECTICUT SCHOOL OF MUSIC TEACHERS FOR 30 WEEKS AFTER SCHOOL. INSTRUMENT LESSONS INCLUDE VIOLIN, VIOLA, CELLO, CLARINET, FLUTE, TROMBONE, TRUMPET, AND SAXOPHONE. TUNING IN TO MUSIC HAS PROVIDED NEARLY 800 QUALIFIED STUDENTS WITH FREE INSTRUMENTAL MUSIC LESSONS SINCE ITS INCEPTION.
REACHING OUT GRANTS (ROG) - THE ORGANIZATION PROVIDES GRANTS TO FUND INNOVATION, EXPAND OPPORTUNITIES, INSPIRE EDUCATORS AND RAISE ACHIEVEMENT FOR ALL STUDENTS, THROUGH THEIR PARTNERSHIP WITH GREENWICH SCHOOLS AND COMMUNITY ORGANIZATIONS. THE PROGRAM AIMS TO REDUCE OPPORTUNITY GAPS FOR STUDENTS FROM UNDERSERVED FAMILIES AND TO PILOT INNOVATIVE EDUCATIONAL PROGRAMMING FOR ALL STUDENTS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Julie Faryniarz Executive Director | OfficerTrustee | 30 | $112,710 |
Cricket Dyment Treasurer | OfficerTrustee | 1 | $0 |
Sarah Goldin Board Chair | OfficerTrustee | 1 | $0 |
Stacy Loveless Secretary | OfficerTrustee | 1 | $0 |
Ellen Keats Director | Trustee | 0 | $0 |
Kristin Miller Director | 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 | $447,638 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $447,638 |
| Total Program Service Revenue | $24,123 |
| Investment income | $2,861 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | $123,961 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $598,583 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $80,000 |
| 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 | $112,710 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $11,970 |
| 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 | $171 |
| Advertising and promotion | $1,900 |
| Office expenses | $0 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $10,351 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $2,429 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $1,394 |
| Insurance | $8,118 |
| All other expenses | $661 |
| Total functional expenses | $513,745 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $170,438 |
| Savings and temporary cash investments | $473,610 |
| Pledges and grants receivable | $198,508 |
| 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 | $2,790 |
| Other assets | $1,459 |
| Total assets | $846,805 |
| Accounts payable and accrued expenses | $11,238 |
| Grants payable | $0 |
| Deferred revenue | $37,452 |
| 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 | $22,619 |
| Total liabilities | $71,309 |
| Net assets without donor restrictions | $576,988 |
| Net assets with donor restrictions | $198,508 |
| 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 | $846,805 |
Grants Awarded
Over the last fiscal year, Greenwich Alliance For Educationfoundation Inc has awarded $32,904 in support to 2 organizations.
| Grant Recipient | Amount |
|---|---|
GREENWICH PUBLIC SCHOOLS PURPOSE: Promote literacy and music educatio | $18,120 |
GREENWICH PUBLIC SCHOOLS PURPOSE: To promote innovation | $14,784 |
Grants Recieved
Over the last fiscal year, we have identified 4 grants that Greenwich Alliance For Educationfoundation Inc has recieved totaling $55,900.
| Awarding Organization | Amount |
|---|---|
Goldman Sachs Charitable Gift Fund New York, NY PURPOSE: EDUCATIONAL PROGRAMS & OTHER STUDENT SVC | $25,000 |
Ayco Charitable Foundation Cohoes, NY PURPOSE: EDUCATION | $12,500 |
Fairfield Countys Community Foundation Inc Norwalk, CT PURPOSE: FOR GENERAL SUPPORT. | $12,000 |
American Online Giving Foundation Inc Newark, DE PURPOSE: GENERAL SUPPORT | $6,400 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Alfred P Sloan Foundation New York, NY | $2,105,880,634 | $192,527,982 |
Massachusetts Higher Education Assistance Corporation Boston, MA | $1,090,709,677 | $124,087,298 |
Mastercard Impact Fund Purchase, NY | $207,268,769 | $96,050,288 |
Arcus Foundation New York, NY | $264,733,626 | $35,703,685 |
Edward P Evans Andover, MA | $242,161,195 | $13,916,833 |
The Childrens Scholarship Fund New York, NY | $36,136,002 | $24,710,520 |
Math For America Inc New York, NY | $15,709,494 | $20,036,646 |
Ja Worldwide Inc Boston, MA | $14,229,210 | $21,801,943 |
The Posse Foundation Inc New York, NY | $120,660,725 | $44,739,225 |
Inner-City Scholarship Fund Inc New York, NY | $115,829,957 | $24,751,034 |
Joan And Irwin Jacobs Technion-Cornell Innovation Instit New York, NY | $205,040,861 | $18,316,542 |
Tikvah Fund New York, NY | $103,047,859 | $6,270,985 |