Elaines Reading Is Fun Foundation
- Assets
- $6.2m
- Revenue
- $216.5k
- Investments
- $0.0
- Employees
- 0
- Location
- Hoover, AL
- Founding
- 01/2013
- Data as of
- 12/2022
- EIN
- 45-5414350
Organization Overview
Elaines Reading Is Fun Foundation is located in Hoover, AL. The organization was established in 2013. According to its NTEE Classification (T30) the organization is classified as: Public Foundations, under the broad grouping of Philanthropy, Voluntarism & Grantmaking Foundations and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Elaines Reading Is Fun 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 12/2022, Elaines Reading Is Fun Foundation generated $216.5k in total revenue. This organization has experienced exceptional growth, as over the past 4 years, it has increased revenue by an average of 18.0% each year . All expenses for the organization totaled $33.6k during the year ending 12/2022. You can explore the organizations financials more deeply in the financial statements section below.
Form
990PF
Mission & Program ActivityExcerpts From the 990PF Filing
TAX YEAR
2022
Describe the Organization's Program Activity:
Part 3 - Line 4a
EAST LAKE ACADEMY: TO SUPPORT THE SCHOOL
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Homer E Smith President | 1 | $0 | |
Virgina S Rawls Director | 0 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $0 |
| Interest on Savings | $216,540 |
| Dividends & Interest | $0 |
| Net Rental Income | $0 |
| Net Gain on Sale of Assets | $0 |
| Capital Gain Net Income | $0 |
| Net ST Capital Gain | $0 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $0 |
| Other Income | $0 |
| Total Revenue | $216,540 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $0 |
| Other employee salaries and wages | $0 |
| Pension plans, employee benefits | $0 |
| Interest | $0 |
| Taxes | $2,900 |
| Depreciation | $0 |
| Occupancy | $0 |
| Travel, conferences, and meetings | $0 |
| Printing and publications | $0 |
| Other expenses | $733 |
| Total operating and administrative expenses | $3,633 |
| Contributions, gifts, grants paid | $30,000 |
| Total expenses and disbursements | $33,633 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $2,824,886 |
| 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 | $3,393,900 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $0 |
| Net Investments - land, buildings, equipment | $0 |
| Investments—mortgage loans | $0 |
| Investments—other | $0 |
| Net Land, buildings, and equipment | $0 |
| Other assets | $0 |
| Total assets | $6,218,786 |
| Accounts payable and accrued expenses | $0 |
| 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 | $0 |
Grants Awarded
Over the last fiscal year, Elaines Reading Is Fun Foundation has awarded $109,099 in support to 4 organizations.
| Grant Recipient | Amount |
|---|---|
OPEN EYES PURPOSE: TO SUPPORT SERVING STUDENTS IN LESS PRIVILEGED INCOME AREAS TO ENCOURAGE EDUCATIONAL AND OCCUPATIONAL IMRPOVEMENT AND SUCCESS THROUGH INDIVIDUALIZED MENTORSHIP. | $20,000 |
RISING HOPE ACADEMY PURPOSE: TO SUPPORT THE PRIVATE SCHOOL SPECIALIZING IN A TRAUMA BASED INFORMED EDUCATION PROGRAM THAT SERVES STUDENTS WHOSE FAMILIES ARE RECOVERING FROM A CRISIS SITUATION. | $10,000 |
BOOKSOURCE PURPOSE: TO PROVIDE CLASSROOM LIBRARIES TO TEN ELEMENTARY SCHOOLS. | $59,099 |
EAST LAKE ACADEMY PURPOSE: TO SUPPORT THE PRIVATE SCHOOL | $20,000 |