Rutherford County Schools Education Foundation Inc
- Assets
- $680.7k
- Revenue
- $261.2k
- Investments
- $0.0
- Employees
- 0
- Location
- Rutherfordton, NC
- Founding
- 11/2010
- Data as of
- 06/2023
- EIN
- 27-2771407
Organization Overview
Rutherford County Schools Education Foundation Inc is located in Rutherfordton, NC. The organization was established in 2010. According to its NTEE Classification (B11) the organization is classified as: Single Organization Support, under the broad grouping of Education and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Rutherford County Schools Education 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 06/2023, Rutherford County Schools Education Foundation Inc generated $261.2k in total revenue. The organization has seen a slow decline revenue. Over the past 8 years, revenues have fallen by an average of 0.0% each year. All expenses for the organization totaled $697.4k during the year ending 06/2023. You can explore the organizations financials more deeply in the financial statements section below.
Since 2020, Rutherford County Schools Education Foundation Inc has awarded 12 individual grants totaling $763,406. If you would like to learn more about the grant giving history of this organization, scroll down to the grant profile section of this page.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2023
Describe the Organization's Mission:
Part 3 - Line 1
TO DEVELOP AND ADMINISTER PROGRAMS TO PROMOTE, SUPPORT, AND ENHANCE THE RUTHERFORD COUNTY BOARD OF EDUCATION, THE RUTHERFORD COUNTY SCHOOLS AND THE STUDENTS ATTENDING THOSE SCHOOLS.
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE RUTHERFORD COUNTY EDUCATION FOUNDATION RECEIVED GRANT FUNDING TO PROVIDE NEW PROMETHEAN BOARDS TO MULTIPLE CLASSROOMS IN THE RUTHERFORD COUNTY SCHOOL SYSTEM IN A PRIOR YEAR AND THE GRANT WAS GIVEN TO THE SCHOOL SYSTEM IN THIS REPORTING PERIOD.
ALL OTHER EXPENSES OF THE FOUNDAITON INCLUDING GRANTS,NON-CASH AWARDS AND OTHER PROGRAM SERVICE EXPENSES.
RUTHERFORD COUNTY EDUCATION FOUNDATION PURCHASED MATERIALS AND SUPPLIES FOR PROJECT STEM.
RUTHERFORD COUNTY EDUCATION FOUNDATION RECEIVED FUNDING FOR NEW STEAM LAB EQUIPMENT AND MATERIALS IN A PRIOR YEAR. THIS REPORTING PERIOD THE MATERIALS AND EQUIPMENT TO SUPPLY 2 MIDDLE SCHOOLS AND 1 HIGH SCHOOL WITH STEAM LABS WAS MADE. THIS WILL ENABLE THOSE SCHOOLS TO BETTER PREPARE STUDENTS FOR THE NEXT LEVEL OF INFORMATION AND TECHNOLOGY.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Ritchie Garland Executive Director | Trustee | 0 | $0 |
Mike Gavin Secretarytreasurer | Officer | 0 | $0 |
Amy Smith Executive Assistant | Officer | 0 | $0 |
Dr Janet Mason Chairman | Officer | 0 | $0 |
Jackie Hampton Vice-Chairman | Officer | 0 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $49,333 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $211,383 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $260,716 |
| Total Program Service Revenue | $0 |
| Investment income | $491 |
| 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 | $261,207 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $622,544 |
| Grants and other assistance to domestic individuals. | $0 |
| 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 | $3,600 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $24,685 |
| Office expenses | $1,524 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $0 |
| 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 | $1,349 |
| All other expenses | $0 |
| Total functional expenses | $697,445 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $680,682 |
| Savings and temporary cash investments | $27 |
| Pledges and grants receivable | $0 |
| 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 | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $680,709 |
| 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 | $209,838 |
| Net assets with donor restrictions | $470,871 |
| 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 | $680,709 |
Grants Awarded
Over the last fiscal year, Rutherford County Schools Education Foundation Inc has awarded $561,294 in support to 6 organizations.
| Grant Recipient | Amount |
|---|---|
RUTHERFORD COUNTY SCHOOLS PURPOSE: Robotics Team | $41,451 |
RUTHERFORD COUNTY SCHOOLS PURPOSE: New Promethean Boards | $231,250 |
RUTHERFORD COUNTY SCHOOLS PURPOSE: Helping Hands for the Homeless | $10,000 |
RUTHERFORD COUNTY SCHOOLS PURPOSE: Support the Backpack Program | $85,193 |
RUTHERFORD COUNTY SCHOOLS PURPOSE: Project Stem | $105,833 |
RUTHERFORD COUNTY SCHOOLS PURPOSE: Middle School and ROC Steam Labs | $87,567 |