Milford Schools Foundation
- Assets
- $3.5m
- Revenue
- $510.8k
- Investments
- $0.0
- Employees
- 0
- Location
- Milford, NE
- Founding
- 03/1999
- Data as of
- 12/2021
- EIN
- 47-0830054
Organization Overview
Milford Schools Foundation is located in Milford, NE. The organization was established in 1999. According to its NTEE Classification (B82) the organization is classified as: Scholarships & Student Financial Aid, 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. Milford Schools 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, Milford Schools Foundation generated $510.8k in total revenue. This organization has experienced exceptional growth, as over the past 7 years, it has increased revenue by an average of 24.1% each year . All expenses for the organization totaled $107.1k 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
PROVIDE SCHOLARSHIPS AND EDUCATIONAL OPPORTUNITIES TO GRADUATES OF MILFORD PUBLIC SCHOOLS AS WELL AS PROVIDE OPPORTUNITIES TO ENHANCE EDUCATIONAL OPPORTUNITIES FOR CURRENT STUDENTS.
Describe the Organization's Program Activity:
Part 3 - Line 4a
PROVIDE SCHOLARSHIPS TO GRADUATING SENIORS OF MILFORD PUBLIC SCHOOLS AS WELL AS PROVIDE ENHANCED EDUCATIONAL OPPORTUNITIES FOR CURRENT STUDENTS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Dee Erb Secretary | OfficerTrustee | 1 | $0 |
Larry Heyen President | OfficerTrustee | 1 | $0 |
Greg Dunlap Board Member | Trustee | 1 | $0 |
Robert L Wergin Board Member | Trustee | 1 | $0 |
Christine Truhe Board Member | Trustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $62,332 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $62,332 |
| Total Program Service Revenue | $44,237 |
| Investment income | $404,194 |
| 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 | $510,763 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $80,400 |
| 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 | $2,550 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $22,435 |
| Fees for services: Other | $0 |
| Advertising and promotion | $0 |
| Office expenses | $751 |
| 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 | $0 |
| All other expenses | $920 |
| Total functional expenses | $107,056 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $493,623 |
| Savings and temporary cash investments | $224,231 |
| 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 | $2,806,811 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $3,524,665 |
| Accounts payable and accrued expenses | $20,000 |
| 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 | $20,000 |
| 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 | $3,504,665 |
| Total liabilities and net assets/fund balances | $3,524,665 |
Grants Recieved
Over the last fiscal year, we have identified 2 grants that Milford Schools Foundation has recieved totaling $27,623.
| Awarding Organization | Amount |
|---|---|
Lincoln Community Foundation Inc Lincoln, NE PURPOSE: GENERAL SUPPORT | $17,121 |
Nebraska Community Foundation Lincoln, NE PURPOSE: SCHOLARSHIP GRANT | $10,502 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Iowa Student Loan Liquidity Corp West Des Moines, IA | $1,230,053,718 | $45,688,659 |
Alliance For Choice In Education Greenwood Village, CO | $60,249,872 | $34,038,450 |
Wichita Center For Graduate Medical Education Inc Wichita, KS | $5,382,351 | $22,892,628 |
Nebraska Student Loan Program Inc Lincoln, NE | $230,624,169 | $45,453,979 |
Kansas City Scholars Inc Kansas City, MO | $5,810,030 | $12,156,402 |
Des Moines Golf And Country Club West Des Moines, IA | $24,329,403 | $13,657,003 |
Waitt Foundation North Sioux City, SD | $157,175,219 | $6,009,824 |
Scholarship Foundation Of St Louis St Louis, MO | $49,025,721 | $11,563,775 |
Western Union Foundation Inc Denver, CO | $4,087,172 | $7,099,166 |
Rsm Us Foundation Davenport, IA | $13,920,904 | $7,669,329 |
Foundation For Educational Funding Lincoln, NE | $161,530,703 | $9,132,107 |
Western States Learning Corporation Cheyenne, WY | $7,278,085 | $6,097,150 |