Elaines Reading Is Fun Foundation
- Assets
- $6.0m
- Revenue
- $190.1k
- Investments
- $0.0
- Employees
- 0
- Location
- Hoover, AL
- Founding
- 01/2013
- Data as of
- 12/2021
- 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 12/2021, Elaines Reading Is Fun Foundation generated $190.1k in total revenue. This organization has experienced exceptional growth, as over the past 4 years, it has increased revenue by an average of 16.0% each year . All expenses for the organization totaled $114.8k during the year ending 12/2021. While expenses have increased by 21.8% 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 2020, Elaines Reading Is Fun Foundation has awarded 22 individual grants totaling $521,761. 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
2021
Describe the Organization's Program Activity:
Part 3 - Line 4a
BOOKSOURCE: PROVIDE CLASSROOM LIBRARIES TO TEN ELEMENTARY SCHOOLS
OPEN EYES: TO SUPPORT SERVING STUDENTS IN LESS PRIVILEGED INCOME AREAS TO ENCOURAGE EDUCATIONAL AND OCCUPATIONAL IMRPOVEMENT AND SUCCESS THROUGH INDIVIDUALIZED MENTORSHIP.
EAST LAKE ACADEMY: TO SUPPORT THE SCHOOL
RISING HOPE ACADEMY: TO SUPPORT THE PRIVATE SCHOOL SPECIALIZING IN A TRAUMA BASED INFORMED EDUCATION PROGRAM THAT SERVES STUDENTS WHOSE FAMILIES ARE RECOVERING FROM A CRISIS SITUATION.
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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 | $0 |
| Dividends & Interest | $190,059 |
| 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 | $190,059 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $0 |
| Other employee salaries and wages | $0 |
| Pension plans, employee benefits | $0 |
| Interest | $0 |
| Taxes | $4,850 |
| Depreciation | $0 |
| Occupancy | $0 |
| Travel, conferences, and meetings | $0 |
| Printing and publications | $0 |
| Other expenses | $865 |
| Total operating and administrative expenses | $5,715 |
| Contributions, gifts, grants paid | $109,099 |
| Total expenses and disbursements | $114,814 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $3,120,879 |
| 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 | $2,915,000 |
| 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 | $6,035,879 |
| 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 |
|---|---|
BOOKSOURCE PURPOSE: TO PROVIDE CLASSROOM LIBRARIES TO TEN ELEMENTARY SCHOOLS. | $59,099 |
Mount Olive, AL PURPOSE: TO SUPPORT SERVING STUDENTS IN LESS PRIVILEGED INCOME AREAS TO ENCOURAGE EDUCATIONAL AND OCCUPATIONAL IMRPOVEMENT AND SUCCESS THROUGH INDIVIDUALIZED MENTORSHIP. | $20,000 |
Birmingham, AL PURPOSE: TO SUPPORT THE PRIVATE SCHOOL | $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 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
The Miami Foundation Inc Miami, FL | $460,864,709 | $147,324,669 |
Ninth District Opportunity Inc Gainesville, GA | $20,597,568 | $53,356,026 |
Jupiter Medical Center Foundation Inc Jupiter, FL | $160,882,045 | $61,479,471 |
Nema Foundation Inc Tallulah Falls, GA | $40,863,488 | $61,480,995 |
Gary Sinise Foundation Nashville, TN | $79,715,180 | $58,070,139 |
Trustbridge Global Foundation Usa Inc Clearwater, FL | $68,735,703 | $42,627,282 |
Blue Cross And Blue Shield Of Florida Foundation Inc Jacksonville, FL | $500,668,406 | $165,069,947 |
Philanthropic Impact Foundation Nashville, TN | $919,847 | $18,241,201 |
University Of South Florida Institute Of Applied Engineering I Tampa, FL | $5,205,656 | $9,587,469 |
The Legacy Foundation At Shell Point Inc Fort Myers, FL | $5,518,203 | $5,863,574 |
East Lake Foundation Inc Atlanta, GA | $69,998,744 | $30,410,500 |
Schoolseed Foundation Memphis, TN | $5,107,519 | $7,793,603 |