The Foundation For Education Inc
- Assets
- $37.9m
- Revenue
- $1.9m
- Investments
- $0.0
- Employees
- 0
- Location
- Denver, NC
- Founding
- 05/2008
- Data as of
- 06/2022
- EIN
- 51-0602496
Organization Overview
The Foundation For Education Inc is located in Denver, NC. The organization was established in 2008. According to its NTEE Classification (B11) the organization is classified as: Single Organization Support, 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. Foundation For 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, Foundation For Education Inc generated $1.9m in total revenue. This represents relatively stable growth, over the past 5 years the organization has increased revenue by an average of 3.0% each year. All expenses for the organization totaled $3.0m during the year ending 06/2022. 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
2022
Describe the Organization's Mission:
Part 3 - Line 1
SUPPORT THE OPERATIONS OF A CHARTER SCHOOL
Describe the Organization's Program Activity:
Part 3 - Line 4a
PROVIDE A FACILITY FOR THE OPERATION OF A CHARTER SCHOOL FOR THE EDUCATION OF CHILDREN IN THE COMMUNITY BY LINCOLN CHARTER SCHOOL.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Robert Brown President | OfficerTrustee | 1 | $0 |
Cara Dowling Vice President | OfficerTrustee | 1 | $0 |
Trent Jones Secretary | OfficerTrustee | 1 | $0 |
Vanessa Brown Treasurer | OfficerTrustee | 1 | $0 |
Thomas Brooks Vice President | OfficerTrustee | 1 | $0 |
Alli Moody Secretary | OfficerTrustee | 1 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Boomerang Design Architect | 6/29/22 | $112,249 |
A3 Communications Security System Contractor | 6/29/22 | $932,163 |
Next Level Recreation Plaground Design And Construction | 6/29/22 | $242,321 |
Randolph & Son Builders Construction | 6/29/22 | $7,066,217 |
Rj Leeper Construction | 6/29/22 | $106,317 |
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 | $183,713 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $183,713 |
| Total Program Service Revenue | $1,734,895 |
| Investment income | $0 |
| 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 | $1,920,438 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| 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 | $0 |
| Fees for services: Legal | $617 |
| Fees for services: Accounting | $15,054 |
| 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 | $1,466,172 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $953,082 |
| Insurance | $0 |
| All other expenses | $26,132 |
| Total functional expenses | $3,009,666 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $1,279,953 |
| Savings and temporary cash investments | $623,652 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $405,311 |
| 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 | $405,145 |
| Net Land, buildings, and equipment | $35,214,521 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $37,928,582 |
| Accounts payable and accrued expenses | $427,433 |
| 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 | $33,101,308 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $0 |
| Total liabilities | $33,528,741 |
| Net assets without donor restrictions | $4,399,841 |
| 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 | $37,928,582 |