Deo B Colburn Education Foundation
- Assets
- $7.7m
- Revenue
- $478.4k
- Investments
- $7.5m
- Employees
- 0
- Location
- Lake Placid, NY
- Founding
- 03/1987
- Data as of
- 06/2022
- EIN
- 22-2777121
Organization Overview
Deo B Colburn Education Foundation is located in Lake Placid, NY. The organization was established in 1987. 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. Deo B Colburn 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 06/2022, Deo B Colburn Education Foundation generated $478.4k in total revenue. This represents a relatively dramatic decline in revenue. Over the past 4 years, the organization has seen revenues fall by an average of (7.0%) each year. All expenses for the organization totaled $645.1k during the year ending 06/2022. You can explore the organizations financials more deeply in the financial statements section below.
Form
990PF
Mission & Program ActivityExcerpts From the 990PF Filing
TAX YEAR
2022
Describe the Organization's Program Activity:
Part 3 - Line 4a
SCHOLARSHIP AID TO 336 STUDENTS FOR THEIR ATTENDANCE AT COLLEGES, UNIVERSITIES AND TECHNICAL SCHOOLS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Craig Randall President | 1 | $500 | |
Kelly Conway Vice Preside | 1 | $400 | |
Margaret E Doran Treasurer | 1 | $500 | |
Stephen Reed Secretary | 1 | $400 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $10,600 |
| Interest on Savings | $387 |
| Dividends & Interest | $199,837 |
| Net Rental Income | $0 |
| Net Gain on Sale of Assets | $182,236 |
| Capital Gain Net Income | $182,236 |
| Net ST Capital Gain | $0 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $0 |
| Other Income | $85,356 |
| Total Revenue | $478,416 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $1,800 |
| Other employee salaries and wages | $0 |
| Pension plans, employee benefits | $0 |
| Interest | $0 |
| Taxes | $23,498 |
| Depreciation | $0 |
| Occupancy | $0 |
| Travel, conferences, and meetings | $0 |
| Printing and publications | $0 |
| Other expenses | $3,444 |
| Total operating and administrative expenses | $133,704 |
| Contributions, gifts, grants paid | $511,355 |
| Total expenses and disbursements | $645,059 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $59,427 |
| Savings and temporary cash investments | $200,191 |
| Net Accounts receivable | $0 |
| Net Pledges Receivable | $0 |
| Grants receivable | $0 |
| Receivables from Officers, Directors, or Controlling Persons | $0 |
| Net other notes and loans receivable | $0 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $0 |
| Net Investments - land, buildings, equipment | $0 |
| Investments—mortgage loans | $0 |
| Investments—other | $0 |
| Net Land, buildings, and equipment | $0 |
| Other assets | $0 |
| Total assets | $7,740,719 |
| Accounts payable and accrued expenses | $0 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Mortgages and other notes payable | $0 |
| Other liabilities | $0 |
| Total liabilities | $0 |
Grants Awarded
Over the last fiscal year, Deo B Colburn Education Foundation has awarded $511,355 in support to 2 organizations.
| Grant Recipient | Amount |
|---|---|
SCHOLARSHIP AID TO 330 STUDENTS PURPOSE: FURTHER HIGHER EDUCATION | $498,500 |
SCHOLARSHIP AID REISSUED 6 STUDENTS PURPOSE: FURTHER HIGHER EDUCATION | $12,855 |