Powhatan Education Foundation
- Assets
- $166.5k
- Revenue
- $529.9k
- Investments
- $0.0
- Employees
- 0
- Location
- Powhatan, VA
- Founding
- 02/2012
- Data as of
- 06/2023
- EIN
- 45-2997389
Organization Overview
Powhatan Education Foundation is located in Powhatan, VA. The organization was established in 2012. 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. Powhatan 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 06/2023, Powhatan Education Foundation generated $529.9k in total revenue. This organization has experienced exceptional growth, as over the past 6 years, it has increased revenue by an average of 59.0% each year . All expenses for the organization totaled $465.9k during the year ending 06/2023. While expenses have increased by 66.1% per year over the past 6 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.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2023
Describe the Organization's Mission:
Part 3 - Line 1
TO PROVIDE A MEANS FOR CONTRIBUTIONS AND APPLICATION FOR GRANTS TO HELP SUPPLEMENT FUNDS FOR INSTRUCTIONAL MATERIALS, EQUIPMENT, AND ALL TYPES OF RESOURCES TO ENHANCE EDUCATION FOR ALL LEVELS OF THE POWHATAN COUNTY PUBLIC SCHOOLS.
Describe the Organization's Program Activity:
Part 3 - Line 4a
CURTIS FOUNDATION GRANTS ARE MADE TO PROVIDE $1,000 TO EACH POWHATAN COUNTY SCHOOL TEACHER, LIBRARIAN AND COUNSELOR, TO SPEND ON THEIR CLASSROOM OR STUDENTS IN THE COMING YEAR. RECIPIENTS MUST TURN IN RECEIPTS TO THEIR SCHOOL AS THEY UTILIZE THE GRANT MONEY. ADDITIONALLY, THEY PROVIDE WRITTEN EXPLANATIONS OF SPECIFIC PROJECTS OR NOTABLE EXPENDITURES, WHICH THE SCHOOL DELIVERS TO THE CURTIS FOUNDATION AND TO POWHATAN EDUCATION FOUNDATION. TOTAL AMOUNT DISTRIBUTED $ 341,000.
THE FOUNDATION ISSUED $ 97,810 IN SCHOLARSHIPS TO POWHATAN HIGH SCHOOL STUDENTS AND RECENT POWHATAN HIGH SCHOOL GRADUATES, BASED ON APPLICATION CRITERIA DETERMINED BY THE POWHATAN HIGH SCHOOL SCHOLARSHIP COMMITTEE.
THE FOUNDATION ISSUED $15,600 IN CLASSROOM INNOVATION GRANTS. THE PURPOSE OF THE CLASSROOM INNOVATION GRANTS IS TO PROMOTE INNOVATIVE EDUCATION OPPORTUNITIES BY FUNDING INDIVIDUAL OR GROUPS OF POWHATAN SCHOOL TEACHERS, LIBRARIANS, AND COUNSELORS WHO SUBMIT A PROPOSAL FOR PROJECTS THAT USE INNOVATION AND COLLABORATION TO ACHIEVE THE COUNTY'S CURRICULAR GOALS AND TO ENHANCE THE LEARNING EXPERIENCE FOR POWHATAN STUDENTS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Frank Rennie Director | Trustee | 1 | $0 |
Jamey Epps Secretary | OfficerTrustee | 3 | $0 |
Kathy Grasty Treasurer | OfficerTrustee | 3 | $0 |
Conway Blankenship Vice President | OfficerTrustee | 1 | $0 |
Beth Teigen- Non Voting Board Member | Trustee | 1 | $0 |
Lynn Clayton Prince- Non Vote Board Member | Trustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $10,525 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $513,726 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $524,251 |
| Total Program Service Revenue | $0 |
| Investment income | $516 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | $5,127 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $529,894 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $348,000 |
| Grants and other assistance to domestic individuals. | $114,910 |
| 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 | $0 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $0 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $1,100 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $0 |
| Office expenses | $0 |
| Information technology | $0 |
| 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 | $1,019 |
| All other expenses | $0 |
| Total functional expenses | $465,854 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $166,533 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $0 |
| 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 | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $166,533 |
| 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 | $0 |
| Total liabilities | $0 |
| 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 | $166,533 |
| Total liabilities and net assets/fund balances | $166,533 |
Grants Awarded
Over the last fiscal year, Powhatan Education Foundation has awarded $619,674 in support to 4 organizations.
| Grant Recipient | Amount |
|---|---|
POWHATAN COUNTY PUBLIC SCHOOL PURPOSE: Funding for STEAM Program | $161,674 |
POWHATAN HIGH SCHOOL PURPOSE: Scholarships | $110,000 |
POWHATAN COUNTY PUBLIC SCHOOL PURPOSE: Teacher Impact Grants | $338,000 |
POWHATAN HIGH SCHOOL PURPOSE: Scholarships | $10,000 |