Montgomery Education Foundation
- Assets
- $473.5k
- Revenue
- $1.8m
- Investments
- $0.0
- Employees
- 0
- Location
- Montgomery, AL
- Founding
- 07/2014
- Data as of
- 09/2023
- EIN
- 46-3586388
Organization Overview
Montgomery Education Foundation is located in Montgomery, AL. The organization was established in 2014. According to its NTEE Classification (B03) the organization is classified as: Professional Societies & Associations, 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. Montgomery 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 09/2023, Montgomery Education Foundation generated $1.8m in total revenue. This organization has experienced exceptional growth, as over the past 7 years, it has increased revenue by an average of 13.6% each year . All expenses for the organization totaled $1.5m during the year ending 09/2023. While expenses have increased by 11.0% per year over the past 7 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
MONTGOMERY EDUCATION FOUNDATION PROVIDES RESOURCES AND PROGRAMS THAT SUPPORT ACADEMIC SUCCESS FOR PUBLIC SCHOOLS AND STUDENTS.
Describe the Organization's Program Activity:
Part 3 - Line 4a
STARBASE: IS A HANDS ON LEARNING PROGRAM IN COORDINATION WITH MAXWELL AIR FORCE BASE TO RAISE INTEREST AND IMPROVE BOTH THE KNOWLEDGE AND SKILL SETS OF STUDENTS SPECIFICALLY IN THE AREAS OF SCIENCE, TECHNOLOGY, ENGINEERING AND MATHMATICS (STEM). THIS PROGRAM SERVES STUDENTS WHO ARE HISTORICALLY UNDER REPRESENTED IN STEM FEILDS, STUDENTS WHO LIVE IN URBAN COMMUNITIES, OR RURAL AREAS, WHO ARE SOCIOECONOMICALLY DISADVANTAGED OR PERFORM POORLY IN ACADEMICS.
STARBASE: IS A HANDS ON LEARNING PROGRAM IN COORDINATION WITH MAXWELL AIR FORCE BASE TO RAISE INTEREST AND IMPROVE BOTH THE KNOWLEDGE AND SKILL SETS OF STUDENTS SPECIFICALLY IN THE AREAS OF SCIENCE, TECHNOLOGY, ENGINEERING AND MATHMATICS (STEM). THIS PROGRAM SERVES STUDENTS WHO ARE HISTORICALLY UNDER REPRESENTED IN STEM FEILDS, STUDENTS WHO LIVE IN URBAN COMMUNITIES, OR RURAL AREAS, WHO ARE SOCIOECONOMICALLY DISADVANTAGED OR PERFORM POORLY IN ACADEMICS.
CHARTER SCHOOLS:THE CHARTER SCHOOL CONVERSION BETWEEN MONTGOMERY EDUCATION FOUNDATION AND MONTGOMERY PUBLIC SCHOOLS AIMS TO ACCELERATE THE LEARNING OPPORTUNITIES FOR STUDENTS AT DAVIS ELEMENTARY, NIXON ELEMENTARY, AND BELLINGRATH MIDDLE SCHOOL. THE CHARTER SCHOOL CONVERSION AIMS: 1) FOR EACH SCHOOL TO RISE FROM A FAILING REPORT CARD TO A C OR BEYOND IN 5 YEARS OR LESS, 2) TO INCREASE FUNDING AND RETAINED FUNDING BY IMPROVING LEARNING AND ACADEMIC PERFORMACE/RESULTS, AND 3) IMPACTING A LARGER NUMBER OF STUDENTS.
SUMMER LEARNING PROGRAM: ENGAGES MONTGOMERY'S YOUTH DURING THE SUMMER, THROUGH LITERACY & STEM WITH A MULTI-CONCEPT STEM ENRICHMENT LAB AND PROVIDES OPPORTUNITIES FOR CHILDREN TO EXPLORE, HAVE FUN, AND BUILD DEEPER RELATIONSHIPS WITH THEIR PEERS AND TEACHERS DURING THE SUMMER.MGM READS (A SUB-PROGRAM OF SUMMER LEARNING: SEEKS TO PROVIDE AND DISTRIBUTE UNDERSERVED STUDENTS AND FAMILIES IN THE MONTGOMERY COMMUNITY WITH CULTURALLY RELEVANT BOOKS AND LITERACY SUPPORT MATERIALS TO EXTEND LEARNING SUPPORT DURING THE SUMMER.
SUMMER LEARNING PROGRAM AND MGM READS: ENGAGES MONTGOMERY'S YOUTH DURING THE SUMMER, THROUGH LITERACY, BY PROVIDING UNDERSERVED STUDENTS AND FAMILIES WITH BOOKS & STEM WITH A MULTI-CONCEPT STEM ENRICHMENT LAB THAT PROVIDES OPPORTUNITIES FOR CHILDREN TO LEARN, EXPLORE, HAVE FUN, AND BUILD DEEPER RELATIONSHIPS WITH THEIR PEERS AND TEACHERS DURING THE SUMMER.
CHARTER SCHOOLS:THE CHARTER SCHOOL CONVERSION BETWEEN MONTGOMERY EDUCATION FOUNDATION AND MONTGOMERY PUBLIC SCHOOLS AIMS TO ACCELERATE THE LEARNING OPPORTUNITIES, IMPROVE ACADEMIC AND SOCIAL PERFORMANCE, AND IMPLEMENT NEW & SUCCESSFUL INSTRUCTIONAL STRATEGIES FOR STUDENTS AT DAVIS ELEMENTARY, NIXON ELEMENTARY, AND BELLINGRATH MIDDLE SCHOOL. THE CHARTER SCHOOL CONVERSION'S OVERALL OBJECTIVE INCLUDE: 1) FOR EACH SCHOOL TO RISE FROM A FAILING REPORT CARD TO A "C OR ABOVE IN 5 YEARS OR LESS, 2) TO INCREASE FUNDING AND RETAINED FUNDING BY IMPROVING LEARNING AND ACADEMIC PERFORMACE/RESULTS, AND 3) IMPACT A LARGER NUMBER OF STUDENTS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Paul Hankins Chairman | Trustee | 2 | $0 |
Dave Borden Vice Chairman | Trustee | 2 | $0 |
Jay Love Treasurer/secretary | Trustee | 2 | $0 |
Charles Jackson Board Member | Trustee | 0.5 | $0 |
Keeshsa Jones Board Member | Trustee | 0.5 | $0 |
Caroline Novak Board Member | Trustee | 0.5 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $501,865 |
| Government grants | $423,624 |
| All other contributions, gifts, grants, and similar amounts not included above | $1,363,681 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $1,787,305 |
| Total Program Service Revenue | $0 |
| Investment income | $3,575 |
| 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 | $1,790,880 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $6,659 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $83,571 |
| Compensation of current officers, directors, key employees. | $37,607 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $802,714 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $69,166 |
| Fees for services: Management | $31,689 |
| Fees for services: Legal | $22,613 |
| Fees for services: Accounting | $27,672 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $22,548 |
| Advertising and promotion | $0 |
| Office expenses | $618 |
| Information technology | $52,477 |
| Royalties | $0 |
| Occupancy | $14,321 |
| Travel | $5,044 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $323 |
| Interest | $4,550 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $30 |
| Insurance | $50,149 |
| All other expenses | $0 |
| Total functional expenses | $1,505,501 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $217,848 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $255,613 |
| 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 | $473,461 |
| Accounts payable and accrued expenses | $48,845 |
| Grants payable | $22,282 |
| 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 | $90,000 |
| Other liabilities | $44,763 |
| Total liabilities | $115,890 |
| Net assets without donor restrictions | $357,571 |
| 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 | $473,461 |