Rives C Minor And Asalie M Preston Educational Foundation Inc
- Assets
- $99.7k
- Revenue
- $37.6k
- Investments
- $92.7k
- Employees
- 0
- Location
- Charlottesville, VA
- Founding
- 04/1983
- Data as of
- 02/2022
- EIN
- 52-1279007
Organization Overview
Rives C Minor And Asalie M Preston Educational Foundation Inc is located in Charlottesville, VA. The organization was established in 1983. 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. Rives C Minor And Asalie M Preston Educational Foundation 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 02/2022, Rives C Minor And Asalie M Preston Educational Foundation Inc generated $37.6k in total revenue. This represents a relatively dramatic decline in revenue. Over the past 5 years, the organization has seen revenues fall by an average of (10.9%) each year. All expenses for the organization totaled $65.6k during the year ending 02/2022. As we would expect to see with falling revenues, expenses have declined by (14.6%) per year over the past 5 years. 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 Program Activity:
Part 3 - Line 4a
THE FOUNDATION HAS NO DIRECT CHARITABLE ACTIVITIES.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Brian Menard Executive Director | 40 | $36,000 | |
Raymond L Carey Sr President/director | 5 | $0 | |
Kendall Carter Director | 5 | $0 | |
Margaret Littlepage Director | 5 | $0 | |
Ronica Turner Secretary/director | 5 | $0 | |
Kathy Johnson Harris Director | 5 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $20,000 |
| Interest on Savings | $2 |
| Dividends & Interest | $3,115 |
| Net Rental Income | $0 |
| Net Gain on Sale of Assets | $14,507 |
| Capital Gain Net Income | $14,507 |
| Net ST Capital Gain | $0 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $0 |
| Other Income | $0 |
| Total Revenue | $37,624 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $36,000 |
| Other employee salaries and wages | $0 |
| Pension plans, employee benefits | $0 |
| Interest | $0 |
| Taxes | $0 |
| Depreciation | $0 |
| Occupancy | $0 |
| Travel, conferences, and meetings | $0 |
| Printing and publications | $0 |
| Other expenses | $3,164 |
| Total operating and administrative expenses | $48,108 |
| Contributions, gifts, grants paid | $17,500 |
| Total expenses and disbursements | $65,608 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $78 |
| Savings and temporary cash investments | $6,925 |
| 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 | $92,708 |
| Net Land, buildings, and equipment | $0 |
| Other assets | $0 |
| Total assets | $99,711 |
| Accounts payable and accrued expenses | $0 |
| 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 | $0 |
Grants Awarded
Over the last fiscal year, Rives C Minor And Asalie M Preston Educational Foundation Inc has awarded $17,500 in support to 8 organizations.
| Grant Recipient | Amount |
|---|---|
KARUNA DAHAL PURPOSE: SCHOLARSHIP FOR TUITION & BOOKS | $3,000 |
KAYLA SCOTT PURPOSE: SCHOLARSHIP FOR TUITION & BOOKS | $3,000 |
DEIJA BROOKS PURPOSE: SCHOLARSHIP FOR TUITION & BOOKS | $3,000 |
KANIYAH KEY PURPOSE: SCHOLARSHIP FOR TUITION & BOOKS | $3,000 |
CAPRICE CHAMBERS PURPOSE: SCHOLARSHIP FOR TUITION & BOOKS | $1,500 |
JAHMANI YOUNG PURPOSE: SCHOLARSHIP FOR TUITION & BOOKS | $1,500 |
Grants Recieved
Over the last fiscal year, we have identified 2 grants that Rives C Minor And Asalie M Preston Educational Foundation Inc has recieved totaling $20,000.
| Awarding Organization | Amount |
|---|---|
Charlottesville Area Community Foundation Charlottesville, VA PURPOSE: BAMAWORKS 2021 GRANT | $10,000 |
Charlottesville Area Community Foundation Charlottesville, VA PURPOSE: GENERAL PURPOSES | $10,000 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
University Of Virginia Licensing & Ventures Group Charlottesville, VA | $21,114,215 | $9,580,641 |
Phoenix Academy Inc High Point, NC | $3,025,069 | $10,364,069 |
Elizabeth City State University Foundation Elizabeth City, NC | $21,052,714 | $2,780,872 |
Johns Hopkins University Retiree Medical Benefits Tr Baltimore, MD | $393,460,709 | $90,822,229 |
Duke Ellington School Of The Arts Project Washington, DC | $6,618,395 | $8,383,151 |
Laborers-Employers Cooperation And Education Trust Washington, DC | $20,406,637 | $8,972,632 |
Unc-G Excellence Foundation Greensboro, NC | $187,420,574 | $12,267,071 |
University Of Maryland Medical System Foundation Inc Baltimore, MD | $91,803,907 | $14,920,300 |
University Of North Carolina At Asheville Foundation Inc Asheville, NC | $61,754,429 | $7,423,002 |
Marshall-Wythe School Of Law Foundation Williamsburg, VA | $56,391,482 | $7,245,738 |
Horatio Alger Endowment Fund Alexandria, VA | $322,951,010 | $58,271,352 |
Old Dominion Athletic Foundation Norfolk, VA | $75,318,666 | $6,634,127 |