Fund For Educational Excellence Inc
- Assets
- $39.2m
- Revenue
- $36.5m
- Investments
- $0.0
- Employees
- 219
- Location
- Baltimore, MD
- Founding
- 02/1979
- Data as of
- 06/2021
- EIN
- 52-1129402
Organization Overview
Fund For Educational Excellence Inc is located in Baltimore, MD. The organization was established in 1979. According to its NTEE Classification (B20) the organization is classified as: Elementary & Secondary Schools, under the broad grouping of Education and related organizations. As of 06/2021, Fund For Educational Excellence Inc employed 219 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Fund For Educational Excellence 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 06/2021, Fund For Educational Excellence Inc generated $36.5m in total revenue. This organization has experienced exceptional growth, as over the past 6 years, it has increased revenue by an average of 45.8% each year . All expenses for the organization totaled $21.1m during the year ending 06/2021. While expenses have increased by 33.8% per year over the past 6 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, Fund For Educational Excellence Inc has awarded 535 individual grants totaling $18,581,685. 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
2021
Describe the Organization's Mission:
Part 3 - Line 1
THE FUND FOR EDUCATIONAL EXCELLENCE EXPANDS RESOURCES, IDENTIFIES AND ACCELERATES SOLUTIONS, AND RECOGNIZES EXCELLENCE SO THAT ALL CHILDREN IN BALTIMORE CITY PUBLIC SCHOOLS EXPERIENCE AN EFFECTIVE AND EQUITABLE EDUCATION.
Describe the Organization's Program Activity:
Part 3 - Line 4a
DISTRICT FUNDRAISING - THE FUND WORKS CLOSELY WITH BALTIMORE CITY PUBLIC SCHOOLS TO RAISE AND SECURE EXTERNAL INVESTMENT THAT SUPPORTS THE DISTRICT'S HIGHEST-PRIORITY NEEDS. AS A TRUSTED PARTNER, WE HELP IDENTIFY THOSE NEEDS, TARGET POTENTIAL FUNDING SOURCES, AND OBTAIN THE NECESSARY SUPPORT FOR CONTINUED PROGRESS.
FISCAL SPONSORSHIP - THE FUND PROVIDES HIGH-LEVEL FINANCIAL AND GRANT MANAGEMENT EXPERTISE TO A RANGE OF MISSION-ALIGNED LOCAL NONPROFIT ORGANIZATIONS AND COMMUNITY PROGRAMS. IN SERVING AS A FISCAL SPONSOR, WE SUPPORT OUR CLIENT'S FINANCIAL AND HUMAN RESOURCE OPERATIONS, INCLUDING DETAILED BUDGET MANAGEMENT AND FINANCIAL REPORTING SERVICES. IN ADDITION, WE WORK IN CLOSE COLLABORATION WITH OUR DONORS AND PARTNERS TO ENSURE THAT GOALS ARE MET, FUNDS ARE USED IN STRICT ACCORDANCE WITH GRANT GUIDELINES, AND REPORTS ARE DISSEMINATED TO APPROPRIATE STAKEHOLDERS. THE SERVICES WE PROVIDE ALLOW ORGANIZATIONS TO FOCUS ON THEIR PROGRAMMATIC GOALS, WHICH OFTEN INCLUDE DEVELOPING INNOVATIVE EDUCATIONAL REFORMS AND EXPANDING STUDENT ACCESS TO HIGH-QUALITY EDUCATION.
ACCELERATE SOLUTIONS - WITH COMMUNITY INPUT, THE FUND IDENTIFIES CHALLENGES, RESEARCHES AND DEVELOPS RECOMMENDATIONS, AND PUSHES FOR INNOVATIVE SOLUTIONS TO IMPROVE BALTIMORE CITY PUBLIC SCHOOLS' POLICIES, PROCESSES, AND PROGRAMS. WE REGULARLY PUBLISH REPORTS THAT COMBINE STRONG ANALYTICS WITH COMMUNITY INPUT TO ADDRESS SOME OF THE MOST PRESSING PROBLEMS FACING OUR STUDENTS, PROVIDE ON-DEMAND WORKSHOPS TO HELP STUDENTS AND FAMILIES NAVIGATE THE DISTRICT'S SCHOOL CHOICE PROCESS FOR MIDDLE AND HIGH SCHOOL, AND WORK TO ENSURE BALTIMORE CITY PUBLIC SCHOOLS CHILDREN READ AT GRADE LEVEL BY THE END OF THIRD GRADE.
THE FUND FOR EDUCATIONAL EXCELLENCE CELEBRATES AND PROMOTES MEANINGFUL LEARNING AND ACHIEVEMENT IN BALTIMORE CITY PUBLIC SCHOOLS THROUGH HONORS AND AWARDS, HOSTING CELEBRATORY EVENTS, AND SHARING POSITIVE STORIES
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Roger Schulman President & CEO | OfficerTrustee | 40 | $214,770 |
Julia Baez Executive Director | 40 | $170,231 | |
Chuck Adkins Chief Financial Officer | Officer | 40 | $162,016 |
Corrie Schoenberg Senior Program Director | 40 | $142,566 | |
Janelle Gendrano Deputy Director | 40 | $120,796 | |
Kevin Leary Senior Program Director | 40 | $120,747 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Akoben Llc Consulting | 6/29/21 | $239,536 |
Strategic Leadership Partners In Educati Consulting | 6/29/21 | $224,954 |
Nld Strategic Consulting | 6/29/21 | $181,700 |
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 | $34,441,942 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $34,441,942 |
| Total Program Service Revenue | $2,084,049 |
| Investment income | $23,925 |
| 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 | $36,549,916 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $3,983,429 |
| 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. | $384,680 |
| Compensation of current officers, directors, key employees. | $16,374 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $4,867,331 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $928,613 |
| Payroll taxes | $373,429 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $67,771 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $17,359 |
| Office expenses | $66,852 |
| Information technology | $19,094 |
| Royalties | $0 |
| Occupancy | $170,107 |
| Travel | $96,945 |
| 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 | $59,079 |
| Insurance | $0 |
| All other expenses | $138,771 |
| Total functional expenses | $21,073,076 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $1,615,478 |
| Savings and temporary cash investments | $18,348,053 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $18,542,402 |
| 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 | $117,947 |
| Net Land, buildings, and equipment | $83,965 |
| Investments—publicly traded securities | $524,535 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $5,156 |
| Total assets | $39,237,536 |
| Accounts payable and accrued expenses | $1,798,277 |
| Grants payable | $1,015,000 |
| 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 | $2,813,277 |
| Net assets without donor restrictions | $1,784,545 |
| Net assets with donor restrictions | $34,639,714 |
| 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 | $39,237,536 |
Grants Awarded
Over the last fiscal year, Fund For Educational Excellence Inc has awarded $3,890,938 in support to 65 organizations.
| Grant Recipient | Amount |
|---|---|
Baltimore, MD PURPOSE: B'MORE INVESTED & SUMMER GRANT | $575,000 |
Baltimore, MD PURPOSE: LIBRARY PROJECT | $485,938 |
Baltimore, MD PURPOSE: GENERAL OPERATIONS | $200,000 |
Baltimore, MD PURPOSE: SUMMER GRANT & B'MORE INVESTED | $200,000 |
Baltimore, MD PURPOSE: B'MORE INVESTED & SUMMER GRANT | $190,000 |
BMORE EMPOWERED INC PURPOSE: B'MORE INVESTED | $150,000 |
Grants Recieved
Over the last fiscal year, we have identified 1 grants that Fund For Educational Excellence Inc has recieved totaling $20,000.
| Awarding Organization | Amount |
|---|---|
Lockhart Vaughan Foundation Inc Baltimore, MD PURPOSE: EDUCATION: BALTIMORE CHILDREN WILL HAVE ACCESS TO A QUALITY PUBLIC EDUCAITON IN PRE-K THROUGH 12TH GRADE. | $20,000 |
Endowment Analysis
| Beg. Balance | $327,622 |
| Earnings | $140,389 |
| Other Expense | $21,650 |
| Ending Balance | $446,361 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Pennsylvania Leadership Charter Schools West Chester, PA | $90,879,263 | $65,797,836 |
Potomac School Mclean, VA | $225,192,195 | $49,665,882 |
The Public School Of Germantown Fort Washington, PA | $151,608,543 | $52,601,237 |
Flint Hill School Oakton, VA | $94,406,099 | $45,449,765 |
William Penn Charter School Inc Philadelphia, PA | $232,730,859 | $59,443,641 |
Bullis School Inc Potomac, MD | $98,208,716 | $48,486,298 |
Shady Side Academy Pittsburgh, PA | $133,159,735 | $43,966,956 |
Shipley School Bryn Mawr, PA | $112,919,649 | $39,287,186 |
Charles E Smith Jewish Day School Of Greater Washington Inc Rockville, MD | $72,940,113 | $37,835,110 |
Landon School Corporation Bethesda, MD | $80,382,622 | $54,334,304 |
Cora Services Inc Philadelphia, PA | $13,503,974 | $35,759,289 |
Friends School Of Baltimore Inc Baltimore, MD | $92,747,497 | $38,147,236 |