William And Lanaea C Featherstone Foundation Inc
- Assets
- $89.1k
- Revenue
- $224.1k
- Investments
- $0.0
- Employees
- 5
- Location
- Ellicott City, MD
- Founding
- 05/2009
- Data as of
- 12/2023
- EIN
- 26-3827474
Organization Overview
William And Lanaea C Featherstone Foundation Inc is located in Ellicott City, MD. The organization was established in 2009. According to its NTEE Classification (B60) the organization is classified as: Adult Education, under the broad grouping of Education and related organizations. As of 12/2023, William And Lanaea C Featherstone Foundation Inc employed 5 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. William And Lanaea C Featherstone 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 12/2023, William And Lanaea C Featherstone Foundation Inc generated $224.1k in total revenue. This organization has experienced exceptional growth, as over the past 9 years, it has increased revenue by an average of 12.0% each year . All expenses for the organization totaled $249.9k during the year ending 12/2023. While expenses have increased by 10.6% per year over the past 9 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
THE WILLIAM & LANAEA C. FEATHERSTONE FOUNDATION, AN AWARD-WINNING NONPROFIT, HAS AN UNPARALLELED REPUTATION FOR ADVANCING ECONOMIC OUTCOMES OF UNDERSERVED COMMUNITIES. THE FOUNDATION IS ON THE FOREFRONT TACKLING UNEMPLOYMENT AND UNDEREMPLOYMENT THROUGH ITS INNOVATIVE WORKFORCE PROGRAM AND EMPOWERING FIRST-GENERATION STUDENTS TO ACHIEVE HIGHER EDUCATION THROUGH STEM, DIGITAL AND FINANCIAL LITERACY AND SCHOLARSHIPS. "THE FOUNDATION'S MISSION IS TO CREATE SUSTAINABLE SOLUTIONS TO BRIDGE THE OPPORTUNITY DIVIDE AMONG UNDERSERVED COMMUNITIES."
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE WILLIAM & LANAEA C. FEATHERSTONE FOUNDATION IS AN AWARD WINNING NONPROFIT (501(C)(3)) FOUNDED IN 2008 WITH AN UNAPOLOGETIC MISSION TO CREATE SUSTAINABLE SOLUTIONS TO BRIDGE THE OPPORTUNITY DIVIDE FOR UNDERSERVED COMMUNITIES. OVER THE PAST 16 YEARS, THE FEATHERSTONE FOUNDATION'S WORK HAS ADVANCED ECONOMIC EQUITY. THE FOUNDATION HAS BEEN ON THE FOREFRONT EMPLOWERING FIRST GENERATION STUDENTS TO ACHIEVE ACADEMIC EQUITY IN HIGHER EDUCATION AND TACKLING UNDEREMPLOYMENT AND UNEMPLOYMENT THROUGH OUR INNOVATIVE PROGRAMS. THROUGH OUR EDUCATION INITIATIVES, THE FEATHERSTONE SCHOLARSHIP PROGRAMS HAS AWARDED OVER $403,000 IN SCHOLARSHIPS TO STUDENTS WHO NOW ATTEND 13 INSTITUTIONS. THIS SCHOLARSHIP AIMS TO MITIGATE FINANCIAL BARRIERS TO HIGHER EDUCATION AND PROVIDE UNDERSERVED COMMUNITIES WITH ACCESS TO ADDITIONAL FUNDING TO PURSUE HIGHER EDUCATION. "EMPOWERING LATINOS, ONE CLICK AT A TIME," EQUIPS SPANISH-SPEAKING PARTICIPANTS WITH THE TRAINING, TOOLS, AND RESOURCES TO FILL THE DIGITAL DIVIDE.OUR WORKFORCE DEVELOPMENT PROGRAM, REACHING NEW HIEIGHTS, HELPS COMMUNITIES RECEIVE HIGHER PAYING JOBS IN THE FINANCIAL SERVICES INDUSTRY.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Johnny Yataco Board Member | Trustee | 1 | $0 |
William Featherstone Board Member | Trustee | 1 | $0 |
Peter Savage Board Member | Trustee | 1 | $0 |
Lanaea Featherstone Founder | OfficerTrustee | 12 | $30,000 |
Juliana Lopez Executive Director | OfficerTrustee | 15 | $29,942 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $11,187 |
| All other contributions, gifts, grants, and similar amounts not included above | $212,944 |
| Noncash contributions included in lines 1a–1f | $15,000 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $224,131 |
| Total Program Service Revenue | $0 |
| Investment income | $0 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $224,131 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $53,698 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $59,592 |
| Compensation of current officers, directors, key employees. | $31,690 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $22,935 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $6,001 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $0 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $44,583 |
| Advertising and promotion | $7,068 |
| Office expenses | $14,525 |
| Information technology | $22,458 |
| Royalties | $0 |
| Occupancy | $7,125 |
| Travel | $8,824 |
| 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 | $424 |
| Insurance | $0 |
| All other expenses | $0 |
| Total functional expenses | $249,939 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $62,477 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $26,000 |
| 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 | $636 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $89,113 |
| Accounts payable and accrued expenses | $5,793 |
| 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 | $5,793 |
| Net assets without donor restrictions | $83,320 |
| Net assets with donor restrictions | $0 |
| 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 | $89,113 |