Cy-Fair Educational Foundation
- Assets
- $16.5m
- Revenue
- $3.0m
- Investments
- $0.0
- Employees
- 4
- Location
- Cypress, TX
- Founding
- 09/1970
- Data as of
- 06/2023
- 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 06/2023, Cy-Fair Educational Foundation employed 4 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 06/2023, Cy-Fair Educational Foundation generated $3.0m in total revenue. This organization has experienced exceptional growth, as over the past 4 years, it has increased revenue by an average of 11.1% each year . All expenses for the organization totaled $1.3m during the year ending 06/2023. While expenses have increased by 8.0% per year over the past 4 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
2023
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 FUNDS FOR STAFF DEVELOPMENT PROGRAMS.
Describe the Organization's Program Activity:
Part 3 - Line 4a
COLLEGE SCHOLARSHIPS - CY-FAIR EDUCATIONAL FOUNDATION AWARDED COLLEGE SCHOLARSHIPS TO 143 STUDENTS. SCHOLARSHIP RECIPIENTS ARE EVALUATED BASED ON ECONOMIC NECESSITY, ACADEMIC ACHIEVEMENT, LEADERSHIP QUALITIES, AND OTHER DONOR-IMPOSED CRITERIA. THIS PROGRAM'S OBJECTEVE 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 IS 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 Di | Officer | 40 | $116,773 |
Robert Adam At Large Off | OfficerTrustee | 1 | $0 |
Jerry Albrecht Trustee | Trustee | 1 | $0 |
Jerry Ashmore Trustee | Trustee | 1 | $0 |
Audrey Ayers Trustee | Trustee | 1 | $0 |
Lauri Baker Trustee | Trustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $93,133 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $786,117 |
| Noncash contributions included in lines 1a–1f | $448,001 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $879,250 |
| Total Program Service Revenue | $0 |
| Investment income | $1,703,623 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | $445,954 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $3,028,827 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $81,417 |
| Grants and other assistance to domestic individuals. | $830,599 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $54,291 |
| Compensation of current officers, directors, key employees. | $54,291 |
| Compensation to disqualified persons | $75,137 |
| Other salaries and wages | $0 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $5,847 |
| Payroll taxes | $20,604 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $25,007 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $32,670 |
| Advertising and promotion | $51,160 |
| Office expenses | $29,109 |
| Information technology | $15,752 |
| Royalties | $0 |
| Occupancy | $33,208 |
| 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 | $11,475 |
| All other expenses | $0 |
| Total functional expenses | $1,266,276 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $782,432 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $251,689 |
| 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 | $23,020 |
| Net Land, buildings, and equipment | $0 |
| Investments—publicly traded securities | $15,450,892 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $16,508,033 |
| Accounts payable and accrued expenses | $87 |
| Grants payable | $1,409,308 |
| Deferred revenue | $36,333 |
| 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 | $1,445,728 |
| Net assets without donor restrictions | $5,484,011 |
| Net assets with donor restrictions | $9,578,294 |
| 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 | $16,508,033 |