Material Handling Educational Foundation Inc
- Assets
- $1.2m
- Revenue
- $205.9k
- Investments
- $0.0
- Employees
- 0
- Location
- Charlotte, NC
- Founding
- 08/1976
- Data as of
- 12/2022
- EIN
- 25-1303313
Organization Overview
Material Handling Educational Foundation Inc is located in Charlotte, NC. The organization was established in 1976. According to its NTEE Classification (S19) the organization is classified as: Support N.E.C., under the broad grouping of Community Improvement & Capacity Building and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Material Handling Educational Foundation 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 12/2022, Material Handling Educational Foundation Inc generated $205.9k in total revenue. This represents a relatively dramatic decline in revenue. Over the past 8 years, the organization has seen revenues fall by an average of (3.6%) each year. All expenses for the organization totaled $211.0k during the year ending 12/2022. 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
2022
Describe the Organization's Mission:
Part 3 - Line 1
THE MATERIAL HANDLING EDUCATION FOUNDATION, INC. IS AN INDEPENDENT CHARITABLE ORGANIZATION DEDICATED TO ATTRACT STUDENTS TO THE MATERIAL HANDLING, LOGISTICS, AND SUPPLY CHAIN INDUSTRY BY PROVIDING FINANCIAL SUPPORT.ESTABLISHED IN 1976, THE FOUNDATION HAS PROVIDED FUNDS THROUGH PRIVATE AND CORPORATE DONATIONS TO STUDENTS, TEACHERS, AND THEIR INSTITUTIONS. ALL PROGRAMS AND ACTIVITIES OF THE FOUNDATION CONTRIBUTE TO THE DEVELOPMENT OF FUTURE INDUSTRY LEADERS, TEACHERS AND RESEARCHERS.
Describe the Organization's Program Activity:
Part 3 - Line 4a
UNIVERSITY SCHOLARSHIP PROGRAM - GRANTS AWARDED THROUGH EDUCATIONAL INSTITUTIONS PROVIDING MATERIAL HANDLING EDUCATION CURRICULUM FOR STUDENTS PURSUING STUDIES IN MATERIAL HANDLING, INDUSTRIAL DISTRIBUTION, ENGINEERING, LOGISTICS, AND SUPPLY CHAIN INDUSTRIES. 46 SCHOLARSHIPS WERE AWARDED IN 2022.
CAREER AND TECHNICAL EDUCATION PROGRAM CONSISTS OF SUPPORTING ENTRY-LEVEL EDUCATIONAL PROGRAMS FOR HIGH SCHOOL, TECHNICAL AND COMMUNITY COLLEGE STUDENTS. FINANCIAL SUPPORT COULD INCLUDE CERTIFICATION PROGRAMS, EXPERIENTIAL GRANTS TO ATTEND INDUSTRY SPONSORED EVENTS, INSTRUCTIONAL MANUALS AND EQUIPMENT, AND WORKSHOPS.
PROFESSIONAL DEVELOPMENT GRANTS TO ASSIST PROGRAMS OR INDIVIDUALS TO PARTICIPATE IN SEMINARS, MEETINGS, SITE VISITS, AND OTHER EVENTS SPECIFICALLY RELATED TO MATERIAL HANDLING DISCIPLINE OF AUTOMATIC DATA COLLECTION.
THE NORMAN L. CAHNERS INDUSTRY AWARD IS A LIFETIME ACHIEVEMENT AWARD THAT IS AWARDED ONLY WHEN A SUFFICIENT BODY OF DOCUMENTATION HAS BEEN PRESENTED TO CONVINCE A PANEL OF JUDGES THAT AN AWARD SHOULD BE MADE TO AN INDIVIDUAL, CORPORATION, OR ORGANIZATION THAT HAS CONTRIBUTED TO THE INDUSTRY IN AN EXTRAORDINARY WAY AND TO AN EXTRAORDINARY DEGREE OVER A SUSTAINED PERIOD OF TIME.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Brian Neuwirth President | OfficerTrustee | 0.1 | $0 |
Ryan Bartlett Vice President | OfficerTrustee | 0.1 | $0 |
Mike Laurent Treasurer | OfficerTrustee | 0.3 | $0 |
Sal Fateen Last Retiring President | OfficerTrustee | 0.1 | $0 |
Donna Varner Executive Director | OfficerTrustee | 6 | $0 |
Dr Michael Kay Cicmhe Liaison | 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 | $229,811 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $229,811 |
| Total Program Service Revenue | $0 |
| Investment income | $42,798 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | -$66,708 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $205,901 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $174,600 |
| 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 | $8,270 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $5,785 |
| Fees for services: Other | $3,598 |
| Advertising and promotion | $0 |
| Office expenses | $436 |
| Information technology | $5,494 |
| Royalties | $0 |
| Occupancy | $2,666 |
| Travel | $15 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $4,443 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $847 |
| All other expenses | $4,831 |
| Total functional expenses | $210,985 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $8,370 |
| Savings and temporary cash investments | $36,400 |
| Pledges and grants receivable | $141 |
| 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 | $1,117,135 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $1,162,046 |
| Accounts payable and accrued expenses | $0 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| 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 | $0 |
| Net assets without donor restrictions | $218,777 |
| Net assets with donor restrictions | $943,269 |
| 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 | $1,162,046 |