Automobile Dealers Educational Assistance Foundation Inc is located in Broadview Heights, OH. The organization was established in 1970. 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. Automobile Dealers Educational Assistance Foundation Inc is a 501(c)(6) and as such, is described as a "Business League, Chambers of Commerce, or Real Estate Board" by the IRS.
For the year ending 10/2021, Automobile Dealers Educational Assistance Foundation Inc generated $2.9m in total revenue. This represents a relatively dramatic decline in revenue. Over the past 6 years, the organization has seen revenues fall by an average of (11.9%) each year. All expenses for the organization totaled $1.7m during the year ending 10/2021. As we would expect to see with falling revenues, expenses have declined by (17.4%) per year over the past 6 years. You can explore the organizations financials more deeply in the financial statements section below.
Since 2014, Automobile Dealers Educational Assistance Foundation Inc has awarded 91 individual grants totaling $982,847. 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
PROMOTION OF THE AUTOMOTIVE INDUSTRY INCLUDING THE ORGANIZATION OF THE CLEVELAND AUTO SHOW, EDUCATION PROGRAMS AND RESEARCH SUPPORT.
Describe the Organization's Program Activity:
Part 3 - Line 4a
PROMOTION OF THE AUTOMOTIVE INDUSTRY INCLUDING THE ORGANIZATION OF THE CLEVELAND AUTO SHOW.
Name (title) | Role | Hours | Compensation |
---|---|---|---|
Louis Vitantonio Jr President/ Secretary | Officer | 40 | $200,000 |
Patrick Harrington Senior Staff Council | 40 | $155,338 | |
Ellen Mastrangelo Senior Staff Council | 40 | $138,195 | |
Nick Hanna Senior Staff Council | Officer | 40 | $108,400 |
Nathan Lancry Treasurer | Trustee | 1 | $0 |
Paul Hrnchar Jr 1st Vice Chairman | Trustee | 1 | $0 |
Statement of Revenue | |
---|---|
Federated campaigns | $0 |
Membership dues | $405,900 |
Fundraising events | $0 |
Related organizations | $0 |
Government grants | $0 |
All other contributions, gifts, grants, and similar amounts not included above | $0 |
Noncash contributions included in lines 1a–1f | $0 |
Total Revenue from Contributions, Gifts, Grants & Similar | $405,900 |
Total Program Service Revenue | $18,086 |
Investment income | $232,229 |
Tax Exempt Bond Proceeds | $0 |
Royalties | $0 |
Net Rental Income | $0 |
Net Gain/Loss on Asset Sales | $1,701,631 |
Net Income from Fundraising Events | $0 |
Net Income from Gaming Activities | $0 |
Net Income from Sales of Inventory | $0 |
Miscellaneous Revenue | $0 |
Total Revenue | $2,853,740 |
Statement of Expenses | |
---|---|
Grants and other assistance to domestic organizations and domestic governments. | $157,316 |
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 | $480,424 |
Pension plan accruals and contributions | $30,942 |
Other employee benefits | $75,811 |
Payroll taxes | $37,655 |
Fees for services: Management | $0 |
Fees for services: Legal | $97,006 |
Fees for services: Accounting | $10,950 |
Fees for services: Lobbying | $0 |
Fees for services: Fundraising | $0 |
Fees for services: Investment Management | $0 |
Fees for services: Other | $2,388 |
Advertising and promotion | $8,692 |
Office expenses | $24,469 |
Information technology | $0 |
Royalties | $0 |
Occupancy | $46,620 |
Travel | $13,013 |
Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
Conferences, conventions, and meetings | $6,274 |
Interest | $0 |
Payments to affiliates | $0 |
Depreciation, depletion, and amortization | $1,771 |
Insurance | $12,884 |
All other expenses | $0 |
Total functional expenses | $1,651,600 |
Balance Sheet | |
---|---|
Cash—non-interest-bearing | $0 |
Savings and temporary cash investments | $1,588,283 |
Pledges and grants receivable | $0 |
Accounts receivable, net | $56,997 |
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 | $1,153 |
Net Land, buildings, and equipment | $966 |
Investments—publicly traded securities | $0 |
Investments—other securities | $0 |
Investments—program-related | $11,292,061 |
Intangible assets | $0 |
Other assets | $273,308 |
Total assets | $13,212,768 |
Accounts payable and accrued expenses | $211,203 |
Grants payable | $0 |
Deferred revenue | $359,368 |
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 | $570,571 |
Net assets without donor restrictions | $12,642,197 |
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 | $13,212,768 |
Over the last fiscal year, Automobile Dealers Educational Assistance Foundation Inc has awarded $109,400 in support to 11 organizations.
Grant Recipient | Amount |
---|---|
Kent, OH PURPOSE: SCHOLARSHIPS | $32,000 |
CUYAHOGA COMMUNITY COLLEGE PURPOSE: SCHOLARSHIPS | $18,400 |
North Canton, OH PURPOSE: CONTRIBUTION | $14,000 |
Akron, OH PURPOSE: SCHOLARSHIPS | $10,000 |
OHIO UNIVERSITY PURPOSE: SCHOLARSHIPS | $8,000 |
YOUNGSTOWN STATE UNIVERSITY PURPOSE: SCHOLARSHIPS | $6,000 |
Organization Name | Assets | Revenue |
---|---|---|
Youngstown State University Foundation Youngstown, OH | $318,269,128 | $38,933,738 |
Michigan State University Foundation East Lansing, MI | $535,425,307 | $55,850,938 |
Ivy Tech Foundation Inc Indianapolis, IN | $133,152,328 | $30,082,278 |
Kent State University Foundation Kent, OH | $245,939,628 | $27,886,498 |
University Of Akron Foundation Akron, OH | $205,506,114 | $14,662,521 |
School Employees Benefit Trust Cincinnati, OH | $16,584,284 | $19,989,967 |
Marshall University Foundation Incorporated Huntington, WV | $365,151,220 | $39,444,191 |
Friends Of Breakthrough Schools Cleveland, OH | $75,617,435 | $14,315,646 |
Eastern Michigan University Foundation Ypsilanti, MI | $82,145,619 | $14,420,618 |
Michigan Tech Fund Houghton, MI | $217,061,508 | $42,674,434 |
Ers Strategic Properties Inc Rootstown, OH | $122,229,530 | $11,683,070 |
Employee Benefit Trust Of Northampton Co Area Community Coll Bethlehem, PA | $1,194,772 | $10,407,527 |