Cy-Fair Educational Foundation
- Assets
- $15.8m
- Revenue
- $3.5m
- Investments
- $0.0
- Employees
- 3
- Location
- Cypress, TX
- Founding
- 09/1970
- Data as of
- 06/2021
- EIN
- 23-7079589
Organization Overview
Cy-Fair Educational Foundation is located in Cypress, TX. The organization was established in 1970. 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 06/2021, Cy-Fair Educational Foundation employed 3 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Cy-Fair Educational 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 06/2021, Cy-Fair Educational Foundation generated $3.5m in total revenue. This organization has experienced exceptional growth, as over the past 6 years, it has increased revenue by an average of 23.9% each year . All expenses for the organization totaled $1.1m during the year ending 06/2021. While expenses have increased by 7.5% 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
CY-FAIR EDUCATIONAL FOUNDATION EXISTS TO RAISE FUNDS TO INCREASE COLLEGE ACCESS FOR GRADUATES OF CY-FAIR ISD BY AWARDING SCHOLARSHIPS AND TO PROMOTE EXCELLENCE IN TEACHING BY PROVIDING STAFF DEVELOPMENT GRANTS.
Describe the Organization's Program Activity:
Part 3 - Line 4a
COLLEGE SCHOLARSHIPS - CY-FAIR EDUCATIONAL FOUNDATATION AWARDED COLLEGE SCHOLARSHIPS TO 141 STUDENTS. SCHOLARSHIP RECIPIENTS ARE EVALUATED BASED ON ECONOMIC NECESSITY, ACADEMIC ACHIEVEMENT, LEADERSHIP QUALITIES, AND OTHER DONOR-IMPOSED CRITERIA. THIS PROGRAMS OBJECTIVE IS TO INCREASE COLLEGE ACCESS FOR GRADUATES OF CY-FAIR ISD.
STAFF DEVELOPMENT GRANT - CY-FAIR EDUCATIONAL FOUNDATION PROVIDES A GRANT EACH YEAR TO THE CY-FAIR ISD FROM A PORTION OF THE PROCEEDS OF THE SALUTE TO THE STARS FUNDRAISING EVENT. THE GRANT TO BE USED BY THE CY-FAIR ISD TO PROMOTE EXCELLENCE IN TEACHING BY FUNDING SELECTED STAFF DEVELOPMENT.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Marie Holmes Executive Director | Officer | 55 | $107,963 |
Robert Adam Officer-At-Large | OfficerTrustee | 1 | $0 |
Adrian Dominguez Officer-At-Large | OfficerTrustee | 1 | $0 |
Bryan Ginsburg Chair Elect | OfficerTrustee | 1 | $0 |
Keith Grothaus Treasurer | OfficerTrustee | 1 | $0 |
Dr Mark Henry Secretary | OfficerTrustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $60,278 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $802,377 |
| Noncash contributions included in lines 1a–1f | $149,155 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $862,655 |
| Total Program Service Revenue | $0 |
| Investment income | $2,347,818 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | $275,511 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $3,485,984 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $81,478 |
| Grants and other assistance to domestic individuals. | $739,216 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $44,562 |
| Compensation of current officers, directors, key employees. | $44,562 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $44,561 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $931 |
| Payroll taxes | $16,887 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $31,795 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $11,298 |
| Office expenses | $30,186 |
| Information technology | $19,063 |
| Royalties | $0 |
| Occupancy | $31,800 |
| Travel | $0 |
| 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 | $0 |
| Insurance | $11,440 |
| All other expenses | $0 |
| Total functional expenses | $1,085,785 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $176,678 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $207,885 |
| 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 | $10,140 |
| Net Land, buildings, and equipment | $0 |
| Investments—publicly traded securities | $15,411,573 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $15,806,276 |
| Accounts payable and accrued expenses | $87 |
| Grants payable | $1,056,980 |
| Deferred revenue | $43,847 |
| 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 | $1,100,914 |
| Net assets without donor restrictions | $5,265,901 |
| Net assets with donor restrictions | $9,439,461 |
| 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 | $15,806,276 |
Grants Recieved
Over the last fiscal year, we have identified 8 grants that Cy-Fair Educational Foundation has recieved totaling $94,109.
| Awarding Organization | Amount |
|---|---|
Interlinc Family Foundation Houston, TX PURPOSE: TO PROVIDE SUPPORT FOR THE ORGANIZATION'S PROGRAM SERVICES. | $28,000 |
American Online Giving Foundation Inc Newark, DE PURPOSE: GENERAL SUPPORT | $19,572 |
National Christian Charitable Foundation Inc Alpharetta, GA PURPOSE: GROWTH | $16,250 |
Methodist Hospital Group Houston, TX PURPOSE: PROGRAM SUPPORT | $13,500 |
Greater Houston Community Foundation Houston, TX PURPOSE: PUBLIC BENEFIT | $10,000 |
Cy-Fair Houston Chamber Of Commerce Inc Houston, TX PURPOSE: ASSISTANCE WITH EDUCATION | $6,000 |
Endowment Analysis
| Beg. Balance | $12,702,926 |
| Earnings | $2,258,985 |
| Net Contributions | $784,534 |
| Other Expense | $62,159 |
| Grants | $737,759 |
| Ending Balance | $14,946,527 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
New Mexico Educational Assistance Foundation Albuquerque, NM | $392,805,656 | $19,955,288 |
Greater Texas Foundation Bryan, TX | $0 | $15,972,442 |
Post Oak School Bellaire, TX | $33,296,853 | $15,447,844 |
American Indian Graduate Center Inc Albuquerque, NM | $28,393,677 | $10,605,933 |
Robert G Carr & Nona K Carr Scholarship Foundation San Angelo, TX | $175,014,798 | $4,176,344 |
Abell-Hanger Foundation Midland, TX | $130,201,135 | $12,262,823 |
J F Maddox Foundation Hobbs, NM | $240,372,497 | $15,567,055 |
Indigenous Education Inc Albuquerque, NM | $3,738,546 | $7,442,761 |
Higher Education Servicing Corp In Arlington, TX | $44,544,807 | $11,853,938 |
Brazos Higher Education Service Corporation Inc Waco, TX | $152,724,525 | $12,631,577 |
Smart Bowling Scholarship Funding Corporation Arlington, TX | $97,151,764 | $16,570,188 |
New Mexico Student Loan Guarantee Corporation Albuquerque, NM | $15,866,075 | $3,044,592 |