Fund For Advancement Of Minorities Through Education Inc
- Assets
- $9.3m
- Revenue
- $1.3m
- Investments
- $0.0
- Employees
- 23
- Location
- Pittsburgh, PA
- Founding
- 12/1993
- Data as of
- 06/2023
- EIN
- 25-1717655
Organization Overview
Fund For Advancement Of Minorities Through Education Inc is located in Pittsburgh, PA. The organization was established in 1993. According to its NTEE Classification (B90) the organization is classified as: Educational Services, under the broad grouping of Education and related organizations. As of 06/2023, Fund For Advancement Of Minorities Through Education Inc employed 23 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Fund For Advancement Of Minorities Through Education 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 06/2023, Fund For Advancement Of Minorities Through Education Inc generated $1.3m in total revenue. This represents relatively stable growth, over the past 8 years the organization has increased revenue by an average of 2.7% each year. All expenses for the organization totaled $1.9m during the year ending 06/2023. While expenses have increased by 3.3% per year over the past 8 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
TO EDUCATE, EMPOWER AND EMBOLDEN AFRICAN AMERICAN YOUTH TO BECOME STUDENT AMBASSADORS OF TODAY, LEADERS OF TOMORROW AND STEWARDS OF THEIR COMMUNITIES BY PROVIDING ACCESS TO COLLEGE PREPARATORY EDUCATION AT PARTICIPATING INDEPENDENT SCHOOLS IN THE GREATER PITTSBURGH AREA THROUGH THE PROVISION OF NEED BASED FINANCIAL ASSISTANCE.
Describe the Organization's Program Activity:
Part 3 - Line 4a
FAME SCHOLARSHIP/EDUCATIONAL PROGRAM - FAME PROVIDED SCHOLARSHIP AND EDUCATIONAL SUPPORT FOR 45 BRIGHT AND TALENTED AFRICAN AMERICAN STUDENTS TO ATTEND PARTICIPATING COLLEGE PREPARATORY INDEPENDENT SCHOOLS. IN ADDITION TO THE SCHOLARSHIPS PROVIDED, FAME ALSO PROVIDES TUTORING FREE OF CHARGE TO FAME SCHOLARS AND SUBSIDIZES THE COST OF BOOKS AND A VARIETY OF OTHER EDUCATIONAL EXPENSES AS NECESSARY.
FAME ACADEMY - FAME ACADEMY WAS INSTITUTED TO PROVIDE PUBLIC MIDDLE SCHOOL STUDENTS SEEKING A HIGHER QUALITY EDUCATION WITHIN THE GREATER PITTSBURGH AREA THE ACADEMIC FOUNDATION NECESSARY TO BE COMPETITIVE IN THE INDEPENDENT SCHOOL APPLICATION PROCESS, INCREASING THE NUMBER OF AFRICAN AMERICAN STUDENTS WITH FINANCIAL NEED THAT RECEIVE A RIGOROUS EDUCATION. THE FAME ACADEMY HELPS STUDENTS TO EXCEL WITHIN THEIR PUBLIC SCHOOL COMMUNITY AND EXPOSES THEM TO COLLEGES AND A VARIETY OF CAREER CHOICES. WITHIN THE FAME ACADEMY, STUDENTS ALSO TRAVEL 3 TIMES A YEAR, TWICE TO CITIES OUTSIDE OF PITTSBURGH AND ONCE TO A PARTNER BOARDING SCHOOL FOR AN OVERNIGHT, ONE-WEEK STAY. STUDENTS ATTEND ACADEMIC COURSES ON SATURDAYS THROUGHOUT THE SCHOOL YEAR AND FOR SIX AND A HALF WEEKS DURING THE SUMMER.
TEACHERS' ACADEMY - THE TEACHER'S ACADEMY IS A NEW PROGRAM BY FAME WHICH SEEKS TO ADDRESS THE LACK OF AFRICAN AMERICAN EDUCATORS IN THE INDEPENDENT SCHOOL SPACE. THE TEACHERS' ACADEMY WILL GIVE ASPIRING TEACHERS THE OPPORTUNITY TO GAIN VALUABLE TEACHING EXPERIENCE AND PROFESSIONAL DEVELOPMENT AT THE FAME ACADEMY. FAME FELLOWS WILL BENEFIT FROM AN INTENSE CURRICULUM AND 3-YEAR CAREER MENTORSHIP DESIGNED BY A COHORT OF EDUCATIONAL ADVISORS TO ADDRESS THE LACK OF BLACK EDUCATORS IN INDEPENDENT SCHOOL EDUCATION.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Reginald Coles Treasurer | OfficerTrustee | 2 | $0 |
Darlene Motley PHD Trustee | Trustee | 1 | $0 |
Linda Cawthon Griffin Trustee | Trustee | 2 | $0 |
Susanna Leers Trustee | Trustee | 1 | $0 |
Ann Hoover Vice Chair | OfficerTrustee | 2 | $0 |
Ronald Francis Trustee | Trustee | 2 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $41,619 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $433,500 |
| All other contributions, gifts, grants, and similar amounts not included above | $489,200 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $964,319 |
| Total Program Service Revenue | $0 |
| Investment income | $318,128 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | -$7,675 |
| Net Income from Fundraising Events | $14,143 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $1,289,300 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $419,977 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $98,751 |
| Compensation of current officers, directors, key employees. | $14,246 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $526,159 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $79,283 |
| Payroll taxes | $59,643 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $69,856 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $123,308 |
| Advertising and promotion | $3,285 |
| Office expenses | $17,511 |
| Information technology | $48,843 |
| Royalties | $0 |
| Occupancy | $13,983 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $53,450 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $10,256 |
| Insurance | $7,407 |
| All other expenses | $18,970 |
| Total functional expenses | $1,922,780 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $597 |
| Savings and temporary cash investments | $211,942 |
| Pledges and grants receivable | $44,225 |
| 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 | $33,831 |
| Net Land, buildings, and equipment | $9,645 |
| Investments—publicly traded securities | $8,977,626 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $9,277,866 |
| Accounts payable and accrued expenses | $120,703 |
| 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 | $440,000 |
| Total liabilities | $560,703 |
| Net assets without donor restrictions | $4,590,080 |
| Net assets with donor restrictions | $4,127,083 |
| 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 | $9,277,866 |