Foundation For Educational Funding
- Assets
- $200.6m
- Revenue
- $11.1m
- Investments
- $92.1m
- Employees
- 5
- Location
- Lincoln, NE
- Founding
- 08/2002
- Data as of
- 09/2021
- EIN
- 31-1777710
Organization Overview
Foundation For Educational Funding, operating under the name Educationquest Foundation, is located in Lincoln, NE. The organization was established in 2002. 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 09/2022, Educationquest Foundation employed 5 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Educationquest 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 09/2021, Educationquest Foundation generated $11.1m in total revenue. This organization has experienced exceptional growth, as over the past 7 years, it has increased revenue by an average of 21.9% each year . All expenses for the organization totaled $7.0m during the year ending 09/2021. While expenses have increased by 1.5% per year over the past 7 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.
Since 2015, Educationquest Foundation has awarded 200 individual grants totaling $2,269,673. 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
2021
Describe the Organization's Mission:
Part 3 - Line 1
IMPROVE ACCESS TO HIGHER EDUCATION IN NEBRASKA: THIS ORGANIZATION'S EXCLUSIVE PURPOSE IS TO OPERATE AS A SUPPORTING ORGANIZATION BY CONDUCTING OR SUPPORTING ACTIVITIES FOR THE BENEFIT OR TO PERFORM THE FUNCTION OF, OR TO CARRY OUT THE PURPOSES OF, EDUCATIONQUEST FOUNDATION, A NEBRASAKA NONPROFIT ORGANIZATION UNDER SECTION 501(C)(3), 509(A)(2) OF THE INTERNAL REVENUE CODE.
Describe the Organization's Program Activity:
Part 3 - Line 4a
SCHOLARSHIP AWARDS TO STUDENTS ATTENDING QUALIFIED POST-SECONDARY INSTITUTIONS OF HIGHER EDUCATION IN THE STATE OF NEBRASKA. (AWARDED BY FORMULA ON AN OBJECTIVE NONDISCRIMINATORY BASIS.)FREE OUTREACH AND TRAINING FOR COMMUNITY AGENCIES IN THE STATE OF NEBRASKA REGARDING CAREER OPTIONS, SCHOLARSHIPS, FAFSA COMPLETION, FINANCIAL AID OPTIONS, AND OTHER COLLEGE PLANNING MATERIALS FOR THEIR CLIENTS.
GRANT AWARDS TO HIGH SCHOOLS, EITHER PUBLIC OR PRIVATE TAX-EXEMPT ORGANIZATIONS, TO ENHANCE EFFORTS TO INCREASE THEIR COLLEGE-GOING RATES. (AWARDS DETERMINED USING OBJECTIVE NONDISCRIMINATORY CRITERIA.)FREE ANNUAL WORKSHOPS ON COLLEGE ACCESS FOR NEBRASKA HIGH SCHOOLS AND A BIENNIAL SYMPOSIUM ON STATE-WIDE COLLEGE ACCESS ISSUES. FREE PUBLICATIONS: COLLEGE ACCESS NEBRASKA - BEST PRACTICE GUIDE FOR COLLEGE ACCESS IN NEBRASKA HIGH SCHOOLS. GRANTS TO MIDDLE SCHOOLS IN NEBRASKA FOR VISITS TO COLLEGE CAMPUSES. (AWARDED BY FORMULA ON AN OBJECTIVE NONDISCRIMINATORY BASIS.)
FREE COLLEGE PLANNING SERVICES INCLUDING COLLEGE RESEARCH, EXPLORATION OF CAREER OPTIONS, SCHOLARSHIP SEARCH, FAFSA COMPLETION AND FILING, AND FINANCIAL AID OPTIONS. (AVAILABLE TO ALL STUDENTS AND FAMILIES IN NEBRASKA REGARDLESS OF COLLEGE DESTINATION.) THREE OFFICES IN NEBRASKA OPEN TO THE PUBLIC: KEARNEY, LINCOLN, AND OMAHA. SPONSOR COLLEGE FAIRS AND CONDUCT FREE COLLEGE PLANNING PRESENTATIONS AROUND NEBRASKA. DEVELOPMENT AND MAINTENANCE OF A WEBSITE THAT PROVIDES INFORMATION FOR MIDDLE SCHOOL AND HIGH SCHOOL STUDENTS AND PARENTS, ADULT LEARNERS, STUDENTS WITH DISABILITIES, NEBRASKA SCHOOL AND AGENCY PROFESSIONALS, PLUS COLLEGE PROFESSIONALS. TOOLS TO ASSIST WITH COLLEGE SELECTION, COLLEGE COSTS ESTIMATOR, FAFSA TUTORIAL, AND COLLEGE PROFILES. FREE ON-LINE ACCESS AVAILABLE IN ENGLISH AND SPANISH. FREE COLLEGE ACCESS TRAINING FOR NEBRASKA MIDDLE SCHOOLS AND HIGH SCHOOLS, AND NEBRASKA COMMUNITY AGENCIES. FREE PUBLICATIONS: EDUCATIONQUEST PROVIDES A VARIETY OF FREE PRINT PUBLICATIONS TO GRADE 6-12 STUDENTS AND FAMILIES AND ADULT LEARNERS.STATEWIDE FREE PROGRAMS AND SERVICES FOR 6TH-8TH GRADE STUDENTS UTILIZING LOOK2COLLEGE AND KNOWHOW2GO PUBLICATIONS AND INFORMATION.INCREASE AWARENESS OF COLLEGE ACCESS THROUGH BILLBOARDS, RADIO AND TV SPOTS, EMAILS, AND ADS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Craig Ames Chairman | OfficerTrustee | 1 | $18,250 |
Miguel Carranza Director | Trustee | 1 | $9,250 |
Michael Green Director | Trustee | 1 | $11,750 |
Wendy Boyer Director | Trustee | 1 | $11,000 |
Debbie Cooper Director | Trustee | 1 | $11,000 |
Kelly Leeper Director | Trustee | 1 | $11,750 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Total Revenue from Contributions, Gifts, Grants & Similar | $50,000 |
| Investment income | $933,039 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $10,093,065 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $11,118,124 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic individuals. | $594,574 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $875,998 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $1,582,913 |
| Pension plan accruals and contributions | $322,709 |
| Other employee benefits | $402,312 |
| Payroll taxes | $160,084 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $24,335 |
| Fees for services: Accounting | $16,830 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $1,112,773 |
| Fees for services: Other | $0 |
| Advertising and promotion | $226,444 |
| Office expenses | $563,893 |
| Information technology | $449,862 |
| Royalties | $0 |
| Occupancy | $520,255 |
| Travel | $5,494 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $39,653 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $4,850 |
| Insurance | $0 |
| All other expenses | $0 |
| Total functional expenses | $7,004,939 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $298,501 |
| Savings and temporary cash investments | $4,093,032 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $83,602 |
| 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 | $352,551 |
| Investments—publicly traded securities | $99,811,916 |
| Investments—other securities | $92,135,515 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $3,839,861 |
| Total assets | $200,621,219 |
| Accounts payable and accrued expenses | $390,789 |
| 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 | $390,789 |
| Net assets without donor restrictions | $0 |
| 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 |
| Total liabilities and net assets/fund balances | $200,230,430 |
Grants Awarded
Over the last fiscal year, Foundation For Educational Funding has awarded $200,448 in support to 20 organizations.
| Grant Recipient | Amount |
|---|---|
LEXINGTION HIGH SCHOOL PURPOSE: COLLEGE ACCESS | $10,000 |
AURORA HIGH SCHOOL PURPOSE: COLLEGE ACCESS | $7,900 |
COLUMBUS HIGH SCHOOL PURPOSE: COLLEGE ACCESS | $10,000 |
LINCOLN HIGH SCHOOL PURPOSE: COLLEGE ACCESS | $10,000 |
LINCOLN SOUTHEAST HIGH SCHOOL PURPOSE: COLLEGE ACCESS | $10,000 |
OMAHA BENSON HIGH SCHOOL PURPOSE: COLLEGE ACCESS | $19,000 |