Foundations In Education Inc
- Assets
- $36.2m
- Revenue
- $11.5m
- Investments
- $0.0
- Employees
- 4
- Location
- Bridgeport, CT
- Founding
- 06/2016
- Data as of
- 06/2022
- EIN
- 47-5130557
Organization Overview
Foundations In Education Inc is located in Bridgeport, CT. The organization was established in 2016. According to its NTEE Classification (T12) the organization is classified as: Fund Raising & Fund Distribution, under the broad grouping of Philanthropy, Voluntarism & Grantmaking Foundations and related organizations. As of 06/2022, Foundations In Education Inc employed 4 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Foundations In Education 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 06/2022, Foundations In Education Inc generated $11.5m in total revenue. This organization has experienced exceptional growth, as over the past 7 years, it has increased revenue by an average of 64.4% each year . All expenses for the organization totaled $5.9m during the year ending 06/2022. You can explore the organizations financials more deeply in the financial statements section below.
Since 2017, Foundations In Education Inc has awarded 179 individual grants totaling $32,828,540. 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
2022
Describe the Organization's Mission:
Part 3 - Line 1
TO STRENGTHEN AND TRANSFORM THE MISSION OF CATHOLIC EDUCATION IN THE DIOCESE OF BRIDGEPORT.
Describe the Organization's Program Activity:
Part 3 - Line 4a
DEVELOPMENT AND PLANNING OF PROGRAMS TO STRENGTHEN AND TRANSFORM THE MISSION OF CATHOLIC EDUCATION IN THE DIOCESE OF BRIDGEPORT BY SUPPORTING INNOVATION IN ACADEMIC AND EXTRA-CURRICULUM PROGRAMS, FOSTERING OPPORTUNITIES FOR THE PROFESSIONAL DEVELOPMENT OF SCHOOL LEADERS AND PROVIDING SCHOLARSHIP ASSISTANCE TO FAMILIES IN NEED.
Get More from Intellispect for FreeCreate a free account to get more data, nonprofit salaries, advanced search and more.
Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Holly Doherty-Lemoine Executive Director | OfficerTrustee | 40 | $162,167 |
Michael Hanlon Treasurer | OfficerTrustee | 1 | $0 |
Thomas E Mcinerney Chairman | OfficerTrustee | 1 | $0 |
Joseph Purcell Vice Chairman | OfficerTrustee | 1 | $0 |
Michele Mitola Secretary | OfficerTrustee | 1 | $0 |
Anne O Mccrory Trustee | Trustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $1,300,135 |
| Related organizations | $946,169 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $7,888,444 |
| Noncash contributions included in lines 1a–1f | $2,354,299 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $10,134,748 |
| Total Program Service Revenue | $0 |
| Investment income | $1,012,441 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $403,137 |
| Net Income from Fundraising Events | -$32,553 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $11,526,982 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $5,349,674 |
| 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. | $165,375 |
| Compensation of current officers, directors, key employees. | $67,695 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $174,929 |
| Pension plan accruals and contributions | $13,086 |
| Other employee benefits | $14,806 |
| Payroll taxes | $24,746 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $13,000 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $11,974 |
| Fees for services: Other | $20,738 |
| Advertising and promotion | $4,232 |
| Office expenses | $15,418 |
| Information technology | $21,907 |
| 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 | $0 |
| Total functional expenses | $5,853,047 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $9,395,672 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $6,397,658 |
| 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 | $20,387,851 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $36,181,181 |
| Accounts payable and accrued expenses | $31,664 |
| Grants payable | $142,268 |
| 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 | $2,923,772 |
| Total liabilities | $3,097,704 |
| Net assets without donor restrictions | $1,946,344 |
| Net assets with donor restrictions | $31,137,133 |
| 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 | $36,181,181 |
Grants Awarded
Over the last fiscal year, Foundations In Education Inc has awarded $5,346,718 in support to 24 organizations.
| Grant Recipient | Amount |
|---|---|
Bridgeport, CT PURPOSE: Scholarships | $1,364,589 |
Danbury, CT PURPOSE: Scholarships/Grants | $450,602 |
Bridgeport, CT PURPOSE: Scholarships/grants | $443,208 |
Bridgeport, CT PURPOSE: Scholarships | $430,164 |
Fairfield, CT PURPOSE: Scholarships | $333,440 |
Trumbull, CT PURPOSE: Scholarships | $285,979 |
Grants Recieved
Over the last fiscal year, we have identified 14 grants that Foundations In Education Inc has recieved totaling $376,685.
| Awarding Organization | Amount |
|---|---|
Theodore J Forstmann Charitable Trust New York, NY PURPOSE: GENERAL EXEMPT PURPOSE | $200,000 |
Rather Family Foundation New York, NY PURPOSE: GENERAL SUPPORT | $30,000 |
Morgan Stanley Global Impact Funding Trust Inc Indianapolis, IN PURPOSE: UNRESTRICTED GENERAL SUPPORT | $25,000 |
Maximilian E & Marion O Hoffman Foundation Inc West Hartford, CT PURPOSE: GENERAL | $25,000 |
John And Ethel Kashulon Foundation Wilmington, DE PURPOSE: THE BISHOP'S SCHOLARSHIP FUND | $20,000 |
Heffernan Family Foundation Rye Brook, NY PURPOSE: GENERAL OPERATING SUPPORT | $20,000 |
Endowment Analysis
| Beg. Balance | $19,807,872 |
| Earnings | -$3,173,182 |
| Net Contributions | $500,000 |
| Grants | $548,772 |
| Ending Balance | $16,585,918 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Givinga Foundation Inc Wellesley, MA | $2,876,364 | $15,849,424 |
Justgive Inc Weston, CT | $5,012,575 | $11,301,311 |
Clara Lionel Foundation New York, NY | $44,086,810 | $23,596,509 |
Visionspring New York, NY | $15,269,850 | $12,679,680 |
America Gives Inc New York, NY | $1,069,288 | $7,827,978 |
Foundations In Education Inc Bridgeport, CT | $36,181,181 | $11,526,982 |
Grant Recommendation Fund Spring Valley, NY | $460,055 | $4,767,095 |
The Catherine Jefferson Foundation Darien, CT | $18,987,801 | $13,741,460 |
Bikoff Foundation Whitestone, NY | $65,723,002 | $14,790,071 |
Giving Tuesday Inc Brooklyn, NY | $1,987,227 | $3,527,479 |
The Meringoff Family Foundation Inc New York, NY | $455,360 | $3,000,005 |
Island Outreach Foundation Inc Center Moriches, NY | $19,989,596 | $2,168,344 |