Education Fund Of Northern Nevada
- Assets
- $3.7m
- Revenue
- $171.9k
- Investments
- $3.7m
- Employees
- 0
- Location
- Reno, NV
- Founding
- 06/2015
- Data as of
- 12/2023
- EIN
- 47-4018195
Organization Overview
Education Fund Of Northern Nevada is located in Reno, NV. The organization was established in 2015. 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 Fund Of Northern Nevada 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 12/2023, Education Fund Of Northern Nevada generated $171.9k in total revenue. This represents a relatively dramatic decline in revenue. Over the past 5 years, the organization has seen revenues fall by an average of (46.5%) each year. All expenses for the organization totaled $960.8k during the year ending 12/2023. You can explore the organizations financials more deeply in the financial statements section below.
Since 2021, Education Fund Of Northern Nevada has awarded 42 individual grants totaling $2,402,182. 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
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2023
Describe the Organization's Mission:
Part 3 - Line 1
THE PURPOSE OF THE ORGANIZATION IS TO PROVIDE SCHOLARSHIPS TO STUDENTS ATTENDING NEVADA SCHOOLS. THE SCHOLARSHIPS ARE PURSUANT TO THE EDUCATIONAL CHOICE SCHOLARSHIP PROGRAM UNDER ASSEMBLY BILL 165 OF THE 2015 NEVADA LEGISLATURE. DURING 2023, 334 SCHOLARSHIPS WERE AWARDED.
Describe the Organization's Program Activity:
Part 3 - Line 4a
SCHOLARSHIPS WERE PROVIDED DURING 2023 STRICTLY IN ACCORDANCE WITH THE MISSION STATEMENT OF THE ORGANIZATION AND AS DESCRIBED IN THE APPLICATION FOR TAX-EXEMPT STATUS. INSURANCE EXPENSE OF $3,014 AND OFFICE SERVICES OF $4,920 ARE INCLUDED IN PROGRAM SERVICE EXPENSES, IN ADDITION TO $952,899 OF SCHOLARSHIP GRANTS TO QUALIFYING SCHOOLS FOR QUALIFYING INDIVIDUALS. SEE SCHEDULE ATTACHED FOR DETAILED LISTING OF RECIPIENT SCHOOLS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Christopher Benna President/trustee | OfficerTrustee | 0.5 | $0 |
Marc Markwell Secretary/trustee | OfficerTrustee | 0.5 | $0 |
Raymond Gonzalez Treasurer/trustee | OfficerTrustee | 0.5 | $0 |
Richard Reviglio Trustee | Trustee | 0.5 | $0 |
Christopher Dianda Trustee | Trustee | 0.5 | $0 |
Matthew Woodhead Trustee | Trustee | 0.5 | $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 | $53 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $53 |
| Total Program Service Revenue | $0 |
| Investment income | $171,884 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | -$49 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $171,888 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $952,899 |
| 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 | $4,920 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $0 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $0 |
| Office expenses | $0 |
| 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 | $3,014 |
| All other expenses | $0 |
| Total functional expenses | $960,833 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $10,158 |
| 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 | $3,664,004 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $3,674,162 |
| 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 | $0 |
| Other liabilities | $0 |
| Total liabilities | $0 |
| Net assets without donor restrictions | $3,674,162 |
| 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 | $3,674,162 |
Grants Awarded
Over the last fiscal year, Education Fund Of Northern Nevada has awarded $929,925 in support to 13 organizations.
| Grant Recipient | Amount |
|---|---|
ADELSON EDUCATIONAL CAMPUS PURPOSE: SCHOLARSHIPS FOR QUALIFYING INDIVIDUALS | $8,424 |
AMERICAN HERITAGE ACADEMY PURPOSE: SCHOLARSHIPS FOR QUALIFYING INDIVIDUALS | $14,000 |
ATERES BONS ITA PURPOSE: SCHOLARSHIPS FOR QUALIFYING INDIVIDUALS | $36,662 |
AWAKEN CHRISTIAN ACADEMY PURPOSE: SCHOLARSHIPS FOR QUALIFYING INDIVIDUALS | $29,761 |
BISHOP GORMAN HIGH SCHOOL PURPOSE: SCHOLARSHIPS FOR QUALIFYING INDIVIDUALS | $42,010 |
BISHOP MANOGUE CATHOLIC SCHOOL PURPOSE: SCHOLARSHIPS FOR QUALIFYING INDIVIDUALS | $264,135 |