Education Unbound Inc
- Assets
- $180.6k
- Revenue
- $120.8k
- Investments
- $40.2k
- Employees
- 0
- Location
- Mckinney, TX
- Founding
- 03/2016
- Data as of
- 12/2021
- EIN
- 47-2755177
Organization Overview
Education Unbound Inc is located in Mckinney, TX. The organization was established in 2016. 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. Education Unbound 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, Education Unbound Inc generated $120.8k in total revenue. This represents relatively stable growth, over the past 6 years the organization has increased revenue by an average of 7.2% each year. All expenses for the organization totaled $66.3k 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
EDUCATION UNBOUND IS AN ORGANIZATION CREATED TO HELP INCREASE THE SUPPLY OF HIGH-TECH TALENT THROUGH "STEAM" IN EDUCATION
Describe the Organization's Program Activity:
Part 3 - Line 4a
EDUCATION UNBOUND SUPPORTS EDUCATIONAL INSTITUTIONS THROUGH INTEGRATIVE SCIENCE, TECHNOLOGY, ENGINEERING, ART AND MATH PROGRAMS AND PROVIDES SCHOLORSHIPS TO NEEDY AND UNDERPRIVILEDGED CHILDREN.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Maan Hamdan Director | Trustee | 20 | $0 |
Weeda Hamdan Director | Trustee | 30 | $0 |
Joseph Hajjar Director | Trustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $2,000 |
| All other contributions, gifts, grants, and similar amounts not included above | $93,730 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $95,730 |
| Total Program Service Revenue | $0 |
| Investment income | $27 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | $25,000 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $120,757 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $2,520 |
| Grants and other assistance to domestic individuals. | $1,102 |
| 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 | $100 |
| Fees for services: Legal | $40 |
| Fees for services: Accounting | $4,794 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $3,030 |
| Office expenses | $2,000 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $598 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $381 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $898 |
| Insurance | $0 |
| All other expenses | $436 |
| Total functional expenses | $66,274 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $9,979 |
| Savings and temporary cash investments | $0 |
| 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 | $129,302 |
| 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 | $40,206 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $1,086 |
| Total assets | $180,573 |
| 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 | $12,186 |
| Secured mortgages and notes payable | $0 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $9,394 |
| Total liabilities | $21,580 |
| Net assets without donor restrictions | $158,993 |
| 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 | $180,573 |
Grants Awarded
Over the last fiscal year, Education Unbound Inc has awarded $31,700 in support to 2 organizations.
| Grant Recipient | Amount |
|---|---|
Tampa, FL PURPOSE: EDUCATIONAL | $16,000 |
NUMINDS ENRICHMENT PURPOSE: EDUCATIONAL | $15,700 |
Grants Recieved
Over the last fiscal year, we have identified 1 grants that Education Unbound Inc has recieved totaling $61,983.
| Awarding Organization | Amount |
|---|---|
American Online Giving Foundation Inc Newark, DE PURPOSE: GENERAL SUPPORT | $61,983 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Indigenous Education Inc Albuquerque, NM | $3,738,546 | $7,442,761 |
Higher Education Servicing Corp In Arlington, TX | $44,544,807 | $11,853,938 |
Brazos Higher Education Service Corporation Inc Waco, TX | $152,724,525 | $12,631,577 |
Smart Bowling Scholarship Funding Corporation Arlington, TX | $97,151,764 | $16,570,188 |
New Mexico Student Loan Guarantee Corporation Albuquerque, NM | $15,866,075 | $3,044,592 |
Kimberly-Clark Foundation Inc Irving, TX | $0 | $5,825,814 |
San Antonio Livestock Exposition Educational Fund Inc San Antonio, TX | $23,576,511 | $4,942,243 |
The Forte Foundation Austin, TX | $3,571,246 | $5,400,451 |
Usaa Educational Foundation San Antonio, TX | $96,381,454 | $7,561,828 |
Ulm Athletic Foundation Monroe, LA | $3,668,358 | $2,963,740 |
Panhandle-Plains Higher Education Foundation Inc Canyon, TX | $182,464,704 | $13,006,465 |
American Indian Graduate Center Scholars Albuquerque, NM | $1,252,569 | $3,993,312 |