Foundation For Advanced Education In The Sciences Inc
- Assets
- $58.4m
- Revenue
- $42.4m
- Investments
- $0.0
- Employees
- 37
- Location
- Bethesda, MD
- Founding
- 01/1964
- Data as of
- 05/2023
- EIN
- 52-0743814
Organization Overview
Foundation For Advanced Education In The Sciences Inc, operating under the name Faes, is located in Bethesda, MD. The organization was established in 1964. According to its NTEE Classification (B82) the organization is classified as: Scholarships & Student Financial Aid, under the broad grouping of Education and related organizations. As of 05/2023, Faes employed 37 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Faes 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 05/2023, Faes generated $42.4m in total revenue. This represents relatively stable growth, over the past 8 years the organization has increased revenue by an average of 4.7% each year. All expenses for the organization totaled $38.5m during the year ending 05/2023. While expenses have increased by 4.7% per year over the past 8 years. They've been increasing with an increasing level of total revenue. You can explore the organizations financials more deeply in the financial statements section below.
Since 2015, Faes has awarded 11 individual grants totaling $889,650. 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
PROMOTE THE PRODUCTIVITY & ATTRACTIVENESS OF PROFESSIONAL LIFE AT THE NIH.
Describe the Organization's Program Activity:
Part 3 - Line 4a
HEALTH INSURANCE:ADMINISTRATIVE SERVICES/PLAN SPONSORSHIP FOR A GROUP HEALTH INSURANCE PLAN WHICH IS AVAILABLE TO NIH TRAINEES WHO WORK AT OR FOR NIH, BUT ARE INELIGIBLE FOR FEDERAL HEALTH INSURANCE. NIH TRAINEES, ALSO REFERRED TO AS FELLOWS, ARE THE PRIMARY MARKET THAT FAES SERVES. THIS PROGRAM PROVIDED HEALTH, VISION, AND DENTAL INSURANCE FOR OVER 6,000 INDIVIDUALS DURING THE YEAR, INCLUDING EXCELLENT BENEFITS, AFFORDABLE ANNUAL MAXIMUMS, AND LOW OUT-OF POCKET EXPENSES.
RETAIL:THE FAES BOOKSTORE@NIH HAS BEEN PROVIDING MEDICAL AND SCIENCE TEXTBOOK SERVICES TO NIH FOR OVER 60 YEARS. STEPS AWAY FROM MASUR AUDITORIUM AND THE FAES CLASSROOMS, THE BOOKSTORE@NIH IS IDEALLY LOCATED TO SUPPORT THE SPECIALIZED BOOK NEEDS OF FAES ACADEMIC PROGRAMS AND THE NIH SCIENTIFIC COMMUNITY. FAES GIFTSTORE@NIH, LOCATED IN THE BUILDING 10 ATRIUM, AND THE B1GIFTSTORE@NIH, LOCATED ON THE B1 LEVEL OF BUILDING 10, EXPAND THE SELECTION OF QUALITY NIH IMPRINTED CLOTHING AND GIFTS FOR NIH EMPLOYEES, PATIENTS, AND VISITORS.
ACADEMIC PROGRAMS:FAES SUPPORTS EDUCATIONAL, CULTURAL, AND PROFESSIONAL INITIATIVES OF THE NIH AND ACTIVELY SEEKS OUT WAYS TO FACILITATE A COLLEGIAL ENVIRONMENT. FAES OFFERS OVER 80 GRADUATE-LEVEL COURSES TO FILL THE GAP BETWEEN TRADITIONAL ACADEMIC PROGRAMS AND WORKING IN A WORLD-CLASS BIOMEDICAL RESEARCH ENVIRONMENT AT NIH. FAES HAD 1,471 COURSE ENROLLMENTS DURING THE YEAR. FAES ALSO HAS PARTNERSHIPS FROM WHICH CREDITS CAN BE TRANSFERRED INTO SEVERAL UNIVERSITY OF MARYLAND MASTER'S DEGREE PROGRAMS. FAES OFFERS OVER 30 TRAINING WORKSHOPS TAUGHT BY NIH SCIENTISTS AND OTHER LEADING BIOMEDICAL FIELD EXPERTS. TRAINING WORKSHOPS INCLUDE 1-5 DAY SESSIONS. FAES HOSTED 28 TRAINING WORKSHOPS WITH A TOTAL OF 833 ATTENDEES DURING THE YEAR.
PROGRAM SUPPORT TO NIH:FAES PROVIDES FUNDING, FOOD, AND ADMINISTRATIVE SUPPORT FOR A VARIETY OF PROGRAMS, ACTIVITIES, AND EVENTS IN SUPPORT OF NIH SUCH AS COMMUNITY BUILDING AND SYMPOSIA, CLASSICAL AND JAZZ MUSIC PERFORMANCES, WEDNESDAY AFTERNOON LECTURES (WALS), ADMINISTRATION OF MEMORIALS, AND MORE. FAES ALSO PROVIDED LOW COST HOUSING TO 114 NIH FELLOWS DURING THE YEAR.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Barbara Alving President & Board Chair | OfficerTrustee | 2 | $0 |
Alan Goldhammer First Vice President/vice Chair | OfficerTrustee | 2 | $0 |
Carol J Thiele Second Vice President/vice Chair | OfficerTrustee | 2 | $0 |
Nancy Johnson Treasurer | OfficerTrustee | 2 | $0 |
Joshua Farber Secretary | OfficerTrustee | 2 | $0 |
Samuel Buckner Director | Trustee | 1 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Trustmark Health Benefits Inc Insurance Claims Tpa | 5/30/23 | $2,458,728 |
Wormald Home Construction Llc General Contractor Housing Construction | 5/30/23 | $2,426,162 |
Talkspace Networks Llc Mental Health Services Provider | 5/30/23 | $341,955 |
Clear Real Estate Services Llc Project Management | 5/30/23 | $266,100 |
Kaizen Human Capital Hr Consulting | 5/30/23 | $194,700 |
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 | $4,714,145 |
| Noncash contributions included in lines 1a–1f | $75,116 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $4,714,145 |
| Total Program Service Revenue | $38,118,410 |
| Investment income | $936,570 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | -$935,341 |
| Net Gain/Loss on Asset Sales | -$405,764 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | -$56,042 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $42,449,991 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $319,129 |
| Grants and other assistance to domestic individuals. | $2,175 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $1,364,955 |
| Compensation of current officers, directors, key employees. | $815,417 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $1,116,462 |
| Pension plan accruals and contributions | $88,794 |
| Other employee benefits | $241,625 |
| Payroll taxes | $156,145 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $35,275 |
| Fees for services: Accounting | $41,448 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $63,517 |
| Fees for services: Other | $375,215 |
| Advertising and promotion | $14,261 |
| Office expenses | $97,415 |
| Information technology | $268,387 |
| Royalties | $0 |
| Occupancy | $4,675 |
| Travel | $3,165 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $487,165 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $12,196 |
| Insurance | $136,736 |
| All other expenses | $0 |
| Total functional expenses | $38,450,686 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $10,936,879 |
| Savings and temporary cash investments | $7,773,941 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $4,220,808 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $160,276 |
| Prepaid expenses and deferred charges | $139,450 |
| Net Land, buildings, and equipment | $7,440,381 |
| Investments—publicly traded securities | $26,982,041 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $736,124 |
| Total assets | $58,389,900 |
| Accounts payable and accrued expenses | $5,290,727 |
| Grants payable | $0 |
| Deferred revenue | $163,678 |
| Tax-exempt bond liabilities | $0 |
| Escrow or custodial account liability | $51,123 |
| 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 | $322,319 |
| Total liabilities | $5,827,847 |
| Net assets without donor restrictions | $49,254,286 |
| Net assets with donor restrictions | $3,307,767 |
| 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 | $58,389,900 |
Grants Awarded
Over the last fiscal year, Foundation For Advanced Education In The Sciences Inc has awarded $249,049 in support to 2 organizations.
| Grant Recipient | Amount |
|---|---|
NATIONAL INSTITUTES OF HEALTH PURPOSE: TO BUILD A GIFT STORE ON B1 LEVEL OF BUILDING 10 | $224,049 |
NATIONAL INSTITUTES OF HEALTH OFFICE OF NIH HISTORY STETTEN MUSEUM PURPOSE: DONATION FOR EXHIBITS/INSTALLATIONS AROUND NIH BETHESDA CAMPUS | $25,000 |