Davenport Schools Foundation
- Assets
- $1.9m
- Revenue
- $235.7k
- Investments
- $0.0
- Employees
- 1
- Location
- Davenport, IA
- Founding
- 07/1988
- Data as of
- 06/2023
- EIN
- 42-1304688
Organization Overview
Davenport Schools Foundation is located in Davenport, IA. The organization was established in 1988. According to its NTEE Classification (B20) the organization is classified as: Elementary & Secondary Schools, 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. Davenport Schools 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 06/2023, Davenport Schools Foundation generated $235.7k in total revenue. This represents a relatively dramatic decline in revenue. Over the past 8 years, the organization has seen revenues fall by an average of (16.4%) each year. All expenses for the organization totaled $199.5k during the year ending 06/2023. As we would expect to see with falling revenues, expenses have declined by (7.3%) per year over the past 8 years. You can explore the organizations financials more deeply in the financial statements section below.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2023
Describe the Organization's Mission:
Part 3 - Line 1
PROVIDE OTHERWISE UNAVAILABLE RESOURCES TO ENHANCE THE DAVENPORT COMMUNITY SCHOOL DISTRICT'S EDUCATIONAL ENVIRONMENT TO HELP STUDENTS PURSUE FULL POTENTIAL.
Describe the Organization's Program Activity:
Part 3 - Line 4a
FINANCIAL ASSISTANCE TO THE DAVENPORT COMMUNITY SCHOOL DISTRICT FOR EDUCATION SERVICES NOT PROVIDED BY THE SCHOOL DISTRICT'S NORMAL OPERATING BUDGET.
THE SCHOLARSHIP PROGRAM PROVIDES MONETARY ASSISTANCE TO DCSD STUDENTS FOR POST SECONDARY EDUCATION OPPORTUNITIES. THE SCHOLARSHIP PROGRAM DISTRIBUTED 60 SCHOLARSHIPS TO DCSD STUDENTS.
THE FOUNDATION'S MISSION IS TO PROVIDE PHILANTHROPIC SUPPORT TO THE DCSD THAT FOCUSES ON EDUCATIONAL ENRICHMENT OPPORTUNITIES FOR ALL STUDENTS IN THE DISTRICT. BECAUSE OF COVID, FUNDRAISING FOR THIS PURPOSE HAS SUFFERED FOR THE PAST 3 YEARS - FIRST BECAUSE GRADE LEVEL TRIPS WERE CANCELED IN 2020 AND IN 2021, RESUMING ONLY IN THE SPRING OF 2022. THE DISTRICT CHOSE TO USE A TEMPORARY FUNDING SOURCE FOR THESE PROGRAMS TO ALLOW THE FOUNDATION TO REBUILD DONOR SUPPORT FOR GREAT MINDS. THAT TEMPORARY FUNDING STREAM WILL END IN JUNE OF 2024. THE FOUNDATION'S PRIORITY FOCUS IS TO REBUILD THE FUNDRAISING PROGRAM FOR GREAT MINDS PROGRAMMING AND OUR MINI-GRANTS SO THAT WE ARE ABLE TO PROVIDE GREATER SUPPORT FOR THESE ENRICHMENT PROGRAMS FOR THE DISTRICT, MOVING FORWARD.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Christine Hester Director | Trustee | 0.5 | $0 |
Greg Gowey Director | Trustee | 1 | $0 |
Jabari Woods Director | Trustee | 2 | $0 |
John Korn Director | Trustee | 5 | $0 |
Sherry Freese Scholarship Co-Chair | Trustee | 5 | $0 |
Steve Hunter Director | Trustee | 5 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $186,326 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $186,326 |
| Total Program Service Revenue | $0 |
| Investment income | $70,152 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | -$33,588 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $235,673 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $8,420 |
| Grants and other assistance to domestic individuals. | $108,681 |
| 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 | $43,888 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $4,554 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $0 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $14,759 |
| Fees for services: Other | $6,790 |
| Advertising and promotion | $213 |
| Office expenses | $3,670 |
| Information technology | $5,513 |
| 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 | $1,751 |
| All other expenses | $0 |
| Total functional expenses | $199,529 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $39,664 |
| Savings and temporary cash investments | $51,874 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $250 |
| 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 | $1,840,429 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $1,932,217 |
| 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 | $36,962 |
| Total liabilities | $36,962 |
| 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 |
| Retained earnings, endowment, accumulated income, or other funds | $1,895,255 |
| Total liabilities and net assets/fund balances | $1,932,217 |
Grants Awarded
Over the last fiscal year, Davenport Schools Foundation has awarded $124,705 in support to 2 organizations.
| Grant Recipient | Amount |
|---|---|
DAVENPORT COMMUNITY SCHOOL DISTRICT PURPOSE: PROGRAM FUNDING - OPPORTUNITY FOR ALL | $24,705 |
DAVENPORT COMMUNITY SCHOOL DISTRICT PURPOSE: PROGAM FUNDING - CREATIVE ARTS ACADEMY | $100,000 |