Sme Education Foundation
- Assets
- $34.0m
- Revenue
- $13.5m
- Investments
- $0.0
- Employees
- 11
- Location
- Southfield, MI
- Founding
- 10/1987
- Data as of
- 12/2023
- EIN
- 38-2746841
Organization Overview
Sme Education Foundation is located in Southfield, MI. The organization was established in 1987. According to its NTEE Classification (B12) the organization is classified as: Fund Raising & Fund Distribution, under the broad grouping of Education and related organizations. As of 12/2023, Sme Education Foundation employed 11 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Sme Education 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 12/2023, Sme Education Foundation generated $13.5m in total revenue. This organization has experienced exceptional growth, as over the past 9 years, it has increased revenue by an average of 19.3% each year . All expenses for the organization totaled $6.7m 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.
Since 2014, Sme Education Foundation has awarded 279 individual grants totaling $14,320,908. 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
THE SME EDUCATION FOUNDATION MISSION IS TO INSPIRE, PREPARE, AND SUPPORT THE NEXT GENERATION OF MANUFACTURING ENGINEERS AND TECHNOLOGISTS.
Describe the Organization's Program Activity:
Part 3 - Line 4a
SCHOLARSHIPS: IN 2023 THE SME EDUCATION FOUNDATION AWARDED ACADEMIC SCHOLARSHIPS TO 183 GRADUATING HIGH SCHOOL SENIORS, CURRENT UNDERGRADUATES AND MASTERS OR DOCTORAL DEGREE STUDENTS PURSUING POST-SECONDARY DEGREES IN MANUFACTURING ENGINEERING, MANUFACTURING TECHNOLOGY, AND RELATED FIELDS. TOTAL SCHOLARSHIP AWARDS DISTRIBUTED TO 123 HIGHER EDUCATIONAL INSTITUTIONS EQUALED $939,966.
EDUCATIONAL PROGRAMS: THE PRIME (PARTNERHSIP RESPONSE IN MANUFACTURING EDUCATION) PROGRAM PROVIDES HIGH SCHOOL STUDENTS WITH HANDS-ON TRAINING AND MANUFACTURING SKILLS THROUGH ACCESS TO ADVANCED TECHNOLOGIES, INDUSTRY-LED CURRICULUM, JOB SHADOWING AND MENTORING PROGRAMS. CASH, EQUIPMENT AND CURRICULUM TOTALING $3,635,598 WAS DONATED TO SCHOOLS IN THE PRIME NETWORK IN 2023.
EDUCATIONAL EVENTS AND ACTIVITIES: PROJECTS INCLUDED SPONSORSHIP OF GIRL'S STEM CAMP AND SME STUDENT CHAPTER ASSISTANCE.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Frank Ervin III President | OfficerTrustee | 4 | $0 |
Erica Powell Bell Vice President | OfficerTrustee | 2 | $0 |
Andrew Jones Secretary/treasurer | OfficerTrustee | 2 | $0 |
Adam Claytor Director | Trustee | 2 | $0 |
Valerie Freeman Director | Trustee | 2 | $0 |
Kimberly Green Director | Trustee | 2 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $1,549,130 |
| Government grants | $6,000,000 |
| All other contributions, gifts, grants, and similar amounts not included above | $3,927,023 |
| Noncash contributions included in lines 1a–1f | $415,680 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $11,476,153 |
| Total Program Service Revenue | $804,109 |
| Investment income | $493,295 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $726,618 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $13,500,175 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $3,635,598 |
| Grants and other assistance to domestic individuals. | $948,801 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $295,142 |
| Compensation of current officers, directors, key employees. | $82,640 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $773,276 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $124,616 |
| Payroll taxes | $69,832 |
| Fees for services: Management | $11,448 |
| Fees for services: Legal | $28,460 |
| Fees for services: Accounting | $32,995 |
| Fees for services: Lobbying | $30,759 |
| Fees for services: Fundraising | $98,063 |
| Fees for services: Investment Management | $38,286 |
| Fees for services: Other | $217,953 |
| Advertising and promotion | $28,500 |
| Office expenses | $14,358 |
| Information technology | $37,630 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $162,228 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $74,078 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $0 |
| All other expenses | $5,137 |
| Total functional expenses | $6,734,144 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $9,438,115 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $38,750 |
| Accounts receivable, net | $1,576,147 |
| 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 | $24,378 |
| Net Land, buildings, and equipment | $0 |
| Investments—publicly traded securities | $22,953,891 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $34,031,281 |
| Accounts payable and accrued expenses | $1,132,209 |
| Grants payable | $406,417 |
| Deferred revenue | $0 |
| Tax-exempt bond liabilities | $0 |
| Escrow or custodial account liability | $254,815 |
| 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 | $752,850 |
| Total liabilities | $2,546,291 |
| Net assets without donor restrictions | $8,858,504 |
| Net assets with donor restrictions | $22,626,486 |
| 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 | $34,031,281 |
Grants Awarded
Over the last fiscal year, Sme Education Foundation has awarded $3,514,678 in support to 41 organizations.
| Grant Recipient | Amount |
|---|---|
MONROE AREA HIGH SCHOOL PURPOSE: FORD SCHOLARSHIP | $213,261 |
INNOVATION CENTRAL HIGH SCHOOL PURPOSE: PRIME SCHOOL SUPPORT | $195,524 |
BAY CITY WESTERN HIGH SCHOOL PURPOSE: PRIME SCHOOL SUPPORT | $190,645 |
TROY HIGH SCHOOL PURPOSE: PRIME SCHOOL SUPPORT | $155,991 |
EDWARDSBURG HIGH SCHOOL PURPOSE: PRIME SCHOOL SUPPORT | $149,495 |
ALPENA HIGH SCHOOL PURPOSE: PRIME SCHOOL SUPPORT | $147,624 |