Foundation For The Advancement Of String Education Inc
- Assets
- $602.8k
- Revenue
- $178.0k
- Investments
- $579.5k
- Employees
- 0
- Location
- Scottsville, VA
- Founding
- 09/1979
- Data as of
- 12/2023
- EIN
- 36-2980311
Organization Overview
Foundation For The Advancement Of String Education Inc is located in Scottsville, VA. The organization was established in 1979. According to its NTEE Classification (A11) the organization is classified as: Single Organization Support, under the broad grouping of Arts, Culture & Humanities and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Foundation For The Advancement Of String 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 12/2023, Foundation For The Advancement Of String Education Inc generated $178.0k in total revenue. This organization has experienced exceptional growth, as over the past 4 years, it has increased revenue by an average of 30.4% each year . All expenses for the organization totaled $391.3k during the year ending 12/2023. While expenses have increased by 29.6% per year over the past 4 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 2019, Foundation For The Advancement Of String Education Inc has awarded 33 individual grants totaling $103,409. 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
990PF
Mission & Program ActivityExcerpts From the 990PF Filing
TAX YEAR
2023
Describe the Organization's Program Activity:
Part 3 - Line 4a
PROGRAMS, SERVICES, GRANTS DESIGNED TO EDUCATE TEACHERS AND STUDENTS USINL MUSICAL INSTRUMENTS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Debra Lyle Executive Di | 40 | $78,000 | |
Tina Krall President | 0 | $0 | |
Laurel Evans Co-Secretary | 0 | $0 | |
Bryanna Porter Co-Secretary | 0 | $0 | |
Felipe Morales-Torres Director | 40 | $55,000 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $14,068 |
| Interest on Savings | $0 |
| Dividends & Interest | $19,906 |
| Net Rental Income | $0 |
| Net Gain on Sale of Assets | $73,836 |
| Capital Gain Net Income | $73,836 |
| Net ST Capital Gain | $0 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $51,999 |
| Other Income | $18,181 |
| Total Revenue | $177,990 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $133,000 |
| Other employee salaries and wages | $2,064 |
| Pension plans, employee benefits | $10,332 |
| Interest | $391 |
| Taxes | $0 |
| Depreciation | $146 |
| Occupancy | $5,760 |
| Travel, conferences, and meetings | $75,087 |
| Printing and publications | $4,970 |
| Other expenses | $116,505 |
| Total operating and administrative expenses | $356,330 |
| Contributions, gifts, grants paid | $34,935 |
| Total expenses and disbursements | $391,265 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $9,625 |
| Savings and temporary cash investments | $0 |
| Net Accounts receivable | $0 |
| Net Pledges Receivable | $0 |
| Grants receivable | $0 |
| Receivables from Officers, Directors, or Controlling Persons | $0 |
| Net other notes and loans receivable | $0 |
| Inventories for sale or use | $13,535 |
| Prepaid expenses and deferred charges | $111 |
| Net Investments - land, buildings, equipment | $0 |
| Investments—mortgage loans | $0 |
| Investments—other | $0 |
| Net Land, buildings, and equipment | $0 |
| Other assets | $0 |
| Total assets | $602,804 |
| Accounts payable and accrued expenses | $10,451 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Mortgages and other notes payable | $0 |
| Other liabilities | $0 |
| Total liabilities | $10,451 |
Grants Awarded
Over the last fiscal year, Foundation For The Advancement Of String Education Inc has awarded $34,935 in support to 16 organizations.
| Grant Recipient | Amount |
|---|---|
RALEIGH MUSIC COLLECTIVE PURPOSE: TO PROVIDE SUPPORT | $18,000 |
AMERICAN STRING TEACHERS PURPOSE: TO PROVIDE SUPPORT | $1,000 |
KORYANNA BOYLE PURPOSE: TO PROVIDE SUPPORT | $800 |
CAROL KOENIG PURPOSE: TO PROVIDE SUPPORT | $800 |
KRYSTEN TOURVILLE PURPOSE: TO PROVIDE SUPPORT | $800 |
RYLEY TAYLOR PURPOSE: TO PROVIDE SUPPORT | $800 |