Fostoria Learning Center Inc
- Assets
- $2.9m
- Revenue
- $292.1k
- Investments
- $0.0
- Employees
- 0
- Location
- Fostoria, OH
- Founding
- 07/2014
- Data as of
- 12/2021
- EIN
- 46-3336356
Organization Overview
Fostoria Learning Center Inc is located in Fostoria, OH. The organization was established in 2014. According to its NTEE Classification (B12) the organization is classified as: Fund Raising & Fund Distribution, 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. Fostoria Learning Center Inc 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, Fostoria Learning Center Inc generated $292.1k in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 2.1% each year. All expenses for the organization totaled $308.4k during the year ending 12/2021. 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
2021
Describe the Organization's Mission:
Part 3 - Line 1
THE FOSTORIA LEARNING CENTER WILL PROVIDE RELEVANT AND ACCESSIBLE LEARNING OPPORTUNITIES. OUR GOAL IS TO FOSTER ECONOMIC AND WORKFORCE DEVELOPMENT, TO DEVELOP A CULTURE OF LIFELONG LEARNING AND TO OFFER A HIGH QUALITY OF LIFE FOR ALL WHO CHOOSE TO LIVE IN OUR COMMUNTIY.
Describe the Organization's Program Activity:
Part 3 - Line 4a
OFFER QUALITY EDUCATION TO AREA RESIDENTS.
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PDF Copies of 990 Filings
Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Ford Mennel President | OfficerTrustee | $0 | |
Tom Borer Secretary | OfficerTrustee | $0 | |
John Schuld Vice Preside | OfficerTrustee | $0 | |
Ron Burns Treasurer | OfficerTrustee | $0 | |
Tom Reineke Trustee | Trustee | $0 | |
Mark Baker Trustee | Trustee | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $36,000 |
| All other contributions, gifts, grants, and similar amounts not included above | $167,500 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $203,500 |
| Total Program Service Revenue | $88,317 |
| Investment income | $0 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $292,142 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $0 |
| 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 | $10,000 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $960 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $25,051 |
| Advertising and promotion | $1,708 |
| Office expenses | $4,793 |
| Information technology | $6,500 |
| Royalties | $0 |
| Occupancy | $47,489 |
| Travel | $39 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $740 |
| Interest | $56,903 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $144,236 |
| Insurance | $10,020 |
| All other expenses | $0 |
| Total functional expenses | $308,439 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $335,489 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $13,900 |
| 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 | $2,503,674 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $770 |
| Other assets | $0 |
| Total assets | $2,853,833 |
| 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 | $1,295,099 |
| Other liabilities | $139,500 |
| Total liabilities | $1,434,599 |
| Net assets without donor restrictions | $1,419,234 |
| 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 | $0 |
| Total liabilities and net assets/fund balances | $2,853,833 |
Grants Recieved
Over the last fiscal year, we have identified 3 grants that Fostoria Learning Center Inc has recieved totaling $101,300.
| Awarding Organization | Amount |
|---|---|
Toledo Community Foundation Toledo, OH PURPOSE: GENERAL SUPPORT | $50,000 |
United Way Of Fostoria Ohio Inc Fostoria, OH | | $45,300 |
Henry H Geary Jr Memorial Foundation Brooklyn, OH PURPOSE: INCREASE EDUCATIONAL | $6,000 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Vista Foundation Hershey, PA | $12,658,681 | $12,905,128 |
Storehouse For Teachers Pittsburgh, PA | $4,365,823 | $11,202,988 |
Kentucky Educational Development Corporation Ashland, KY | $6,070,827 | $11,298,796 |
Elevate 215 Philadelphia, PA | $9,991,857 | $10,518,985 |
Battelle For Kids Hilliard, OH | $8,986,527 | $5,810,919 |
Mastery Charter Schools Foundation Philadelphia, PA | $112,317,090 | $8,533,885 |
Van Wert County Foundation Van Wert, OH | $84,063,134 | $5,243,606 |
Middlebury Community Schools Employee Benefit Trust Middlebury, IN | $1,426,617 | $4,992,187 |
Carrol W Hirsch Ta Brooklyn, OH | $78 | $994,416 |
Ohio Foundation Of Independent Colleges Inc Columbus, OH | $10,019,771 | $4,357,939 |
Indianapolis Public Schools Education Foundation Inc Indianapolis, IN | $8,991,095 | $5,839,882 |
Sme Education Foundation Southfield, MI | $34,257,056 | $11,054,523 |