Bic Educational Foundation
- Assets
- $11.4m
- Revenue
- $766.8k
- Investments
- $11.2m
- Employees
- 0
- Location
- Elkridge, MD
- Founding
- 11/1978
- Data as of
- 06/2022
- EIN
- 52-1115933
Organization Overview
Bic Educational Foundation is located in Elkridge, MD. The organization was established in 1978. 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. Bic Educational Foundation 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, Bic Educational Foundation generated $766.8k in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 0.1% each year. All expenses for the organization totaled $362.2k during the year ending 06/2022. You can explore the organizations financials more deeply in the financial statements section below.
Form
990PF
Mission & Program ActivityExcerpts From the 990PF Filing
TAX YEAR
2022
Describe the Organization's Mission:
Part 3 - Line 1
TO PROVIDE SCHOLARSHIPS TO STUDENTS PURSUING CAREERS IN THE HOSPITALITY INDUSTRY AND TO FOSTER DEVELOPMENT OF CAREERS IN THE HOSPITALITY INDUSTRY THROUGH GRANTS AND SPONSORSHIPS.
Describe the Organization's Program Activity:
Part 3 - Line 4a
PROVIDED SCHOLARSHIPS FOR STUDENTS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Ellen Saval Executive Director | 2 | $55,000 | |
Harold Graul Chairman | 1 | $0 | |
Stuart Amos Trustee | 1 | $0 | |
Paul Saval Trustee | 1 | $0 | |
Richard Roe Trustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $0 |
| Interest on Savings | $0 |
| Dividends & Interest | $317,752 |
| Net Rental Income | $0 |
| Net Gain on Sale of Assets | $449,007 |
| Capital Gain Net Income | $449,007 |
| Net ST Capital Gain | $0 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $0 |
| Other Income | $0 |
| Total Revenue | $766,759 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $55,000 |
| Other employee salaries and wages | $0 |
| Pension plans, employee benefits | $0 |
| Interest | $0 |
| Taxes | $2,026 |
| Depreciation | $0 |
| Occupancy | $0 |
| Travel, conferences, and meetings | $0 |
| Printing and publications | $0 |
| Other expenses | $140,831 |
| Total operating and administrative expenses | $214,694 |
| Contributions, gifts, grants paid | $147,486 |
| Total expenses and disbursements | $362,180 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $189,123 |
| Savings and temporary cash investments | $61,060 |
| Net Accounts receivable | $0 |
| Net Pledges Receivable | $0 |
| Grants receivable | $0 |
| Receivables from Officers, Directors, or Controlling Persons | $0 |
| Net other notes and loans receivable | $0 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $0 |
| Net Investments - land, buildings, equipment | $0 |
| Investments—mortgage loans | $0 |
| Investments—other | $11,198,599 |
| Net Land, buildings, and equipment | $0 |
| Other assets | $0 |
| Total assets | $11,448,782 |
| Accounts payable and accrued expenses | $416,000 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Mortgages and other notes payable | $0 |
| Other liabilities | $0 |
| Total liabilities | $416,000 |
Grants Awarded
Over the last fiscal year, Bic Educational Foundation has awarded $147,486 in support to 5 organizations.
| Grant Recipient | Amount |
|---|---|
STRATFORD UNIVERSITY PURPOSE: TO PROVIDE SCHOLARSHIPS TO STUDENTS PURSUING CAREERS IN THE HOSPITALITY AND CULINARY ARTS INDUSTRY AND TO FOSTER THE DEVELOPMENT OF CAREERS IN THIS INDUSTRY. | $89,500 |
FRIENDS OF GREAT KIDS FARM PURPOSE: TO SUPPORT BALTIMORE CITY PUBLIC SCHOOLS' FARM TO SCHOOL PROGRAM TO PROMOTE EXPERIENTIAL EDUCATION THAT CONNECTS STUDENTS TO NATURE AND FOOD SYSTEMS. | $25,000 |
HOWARD COMMUNITY COLLEGE PURPOSE: TO PROVIDE SCHOLARSHIPS TO STUDENTS PURSUING CAREERS IN THE HOSPITALITY AND CULINARY ARTS INDUSTRY AND TO FOSTER THE DEVELOPMENT OF CAREERS IN THIS INDUSTRY. | $20,876 |
Severna Park, MD PURPOSE: TO SUPPORT U EMPOWER OF MARYLAND'S "THE FOOD PROJECT" WHICH BRINGS CULINARY SKILLS, JOB OPPORTUNITIES, SUSTAINABLE FOOD SOURCES, MENTORSHIP & HOPE TO THE YOUTH OF SOUTH WEST BALTIMORE. | $10,000 |
Arnold, MD PURPOSE: TO PROVIDE SCHOLARSHIPS TO STUDENTS PURSUING CAREERS IN THE HOSPITALITY AND CULINARY ARTS INDUSTRY AND TO FOSTER THE DEVELOPMENT OF CAREERS IN THIS INDUSTRY. | $2,110 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Thurgood Marshall College Fund Inc Washington, DC | $121,810,471 | $98,266,975 |
Business Leadership Organized For Catholic Schools King Of Prussia, PA | $82,544,630 | $55,644,917 |
Breakthrough Prize Foundation Washington, DC | $10,581,357 | $48,295,695 |
Central Pennsylvania Scholarship Fund Tyrone, PA | $42,508,819 | $45,167,381 |
Virginia Student Aid Foundation Charlottesville, VA | $165,530,915 | $45,876,846 |
Foundation For Advanced Education In The Sciences Inc Bethesda, MD | $54,757,501 | $41,367,941 |
Horatio Alger Association Of Distinguished Americans Inc Alexandria, VA | $58,355,936 | $27,092,429 |
Somerset Community Services Inc Marion Station, MD | $23,511,474 | $20,221,070 |
American Association Of University Women Inc Washington, DC | $138,843,361 | $18,528,803 |
Cigna Foundation Philadelphia, PA | $165,016,072 | $8,084,237 |
James Madison University Foundation Inc Harrisonburg, VA | $191,139,680 | $18,508,438 |
Indian Paintbrush Foundation Washington, DC | $2,617,521,485 | $1,521,981,843 |