Educap Inc

Organization Overview

Educap Inc, operating under the name Catherine B Reynolds Foundation, is located in Sterling, VA. The organization was established in 1987. According to its NTEE Classification (W60) the organization is classified as: Financial Institutions, under the broad grouping of Public & Societal Benefit and related organizations. As of 09/2021, Catherine B Reynolds Foundation employed 10 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Catherine B Reynolds 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 09/2021, Catherine B Reynolds Foundation generated $4.0m in total revenue. This represents a relatively dramatic decline in revenue. Over the past 6 years, the organization has seen revenues fall by an average of (19.5%) each year. All expenses for the organization totaled $6.5m during the year ending 09/2021. You can explore the organizations financials more deeply in the financial statements section below.

Since 2015, Catherine B Reynolds Foundation has awarded 86 individual grants totaling $25,925,900. 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.

Mission & Program ActivityExcerpts From the 990T Filing

TAX YEAR

2021

Describe the Organization's Mission:

Part 3 - Line 1

SEE PART III, LINES 1, 4A AND 4B.

Describe the Organization's Program Activity:

1. TO RECEIVE AND ADMINISTER FUNDS FOR RELIGIOUS, SCIENTIFIC, EDUCATIONAL, AND CHARITABLE PURPOSES WITHIN THE MEANING OF SECTION 501(C)(3) OF THE INTERNAL REVENUE CODE OF 1986, AS THE SAME MAY BE AMENDED FROM TIME TO TIME ("THE CODE").2. TO CARRY ON A VARIETY OF PROGRAMS RELATING TO, AMONG OTHER THINGS, THE LENDING OF FUNDS TO OR FOR THE BENEFIT OF STUDENTS, FACULTY AND STAFF OF EDUCATIONAL INSTITUTIONS AND OTHERS FOR EDUCATIONAL PURPOSES, INCLUDING SERVICING AND ADMINISTERING STUDENT LOAN PORTFOLIOS.3. TO ADMINISTER PROGRAMS WHEREBY OTHER GOVERNMENTAL OR NONGOVERNMENTAL ENTITIES LEND FUNDS TO OR FOR THE BENEFIT OF, AMONG OTHERS, STUDENTS, FACULTY AND STAFF OF EDUCATIONAL INSTITUTIONS AND NON-PROFIT INSTITUTIONS, IN FURTHERANCE OF RELIGIOUS, SCIENTIFIC, EDUCATIONAL OR CHARITABLE PURPOSES.4. TO DO ANY OTHER ACT OR THING INCIDENTAL TO OR CONNECTED WITH THE FOREGOING PURPOSES OR IN ADVANCEMENT THEREOF.EXEMPT PURPOSE ACHIEVEMENTS:A. EDUCAP INC. HAS PROVIDED OVER $2,500,000,000 IN EDUCATIONAL LOANS TO OVER 350,000 AMERICANS. THESE FUNDS HAVE ALLOWED THESE INDIVIDUALS THE OPPORTUNITY TO FURTHER THEIR EDUCATION AND MEET THE RISING COST OF OBTAINING A HIGHER EDUCATION.TODAY, EDUCAP INC. ADMINISTERS MULTIPLE LOAN PROGRAMS AND SERVICES APPROXIMATELY $89,306,527 IN EDUCATIONAL LOANS FOR OVER 9,727 STUDENTS.IN ORDER TO RECEIVE A LOAN, THE STUDENT MUST BE ACCEPTED FOR ENROLLMENT FULL TIME OR PART TIME IN AN ACCREDITED COLLEGE, UNIVERSITY OR PRIVATE SECONDARY SCHOOL APPROVED BY EDUCAP INC. FOR THE LOAN PROGRAM UNDER WHICH THE APPLICATION IS BEING MADE.THE BORROWER OR COSIGNER MUST:BE CREDITWORTHY AND BE A U.S. CITIZEN OR PERMANENT RESIDENT ALIEN OR HAVE A CREDITWORTHY COSIGNER WHO IS A U.S. CITIZEN OR PERMANENT RESIDENT ALIEN.BE 18 YEARS OF AGE OR OLDER AT THE TIME OF APPLICATION (19 IN ALABAMA AND NEBRASKA, 21 IN MISSISSIPPI AND PUERTO RICO).HAVE NO ADVERSE PUBLIC RECORDS (E.G., COLLECTIONS, TAX LIENS, ETC.) ON THEIR CREDIT REPORTS.HAVE AN ACCEPTABLE BANKRUPTCY SCORE ASSIGNED BY A CREDIT REPORTING AGENCY.HAVE AN ACCEPTABLE CREDIT SCORE (AS DETERMINED BY EDUCAP INC.'S CREDIT SCORING MODEL) FOR THE LOAN PROGRAM UNDER WHICH THE APPLICATION IS BEING MADE.HAVE NEVER DEFAULTED ON A STUDENT LOAN.SUBMIT INCOME VERIFICATION DOCUMENTS.MAXIMUM LOAN AMOUNTS ARE BASED ON:SCHOOL COSTSINCOME AND DEBT TO INCOME RATIO


TO MAKE GRANTS TO OTHER 501(C)(3) ORGANIZATIONS IN FURTHERANCE OF ITS MISSION, FOCUSED UPON FOSTERING AN EDUCATED CITIZENRY THROUGH SUPPORT OF EDUCATION, THE ARTS, RESEARCH AND A VARIETY OF OTHER CHARITABLE AND EDUCATIONAL ACTIVITIES.DURING ITS FISCAL YEAR ENDING SEPTEMBER 30, 2021, EDUCAP INC. HAS MADE GRANTS TOTALING $1,821,694 AND HAS PAID OUT $1,660,000 IN CASH CONTRIBUTIONS TO 12 DIFFERENT CHARITABLE ORGANIZATIONS EXEMPT FROM FEDERAL INCOME TAXATION UNDER SECTION 501(C)(3) OF THE INTERNAL REVENUE CODE.


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Outside Vendors & Contractors

Vendor Name (Service)Compensation
Fiserv
Processing Services
$733,704
Nelnet
Processing Services
$392,709
Williams & Connolly Llp
Legal Services
$292,049
Mindshift Technologies Inc
It Consulting
$134,247
Squar Milner Llp
Audit And Tax Services
$118,697
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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$0
Noncash contributions included in lines 1a–1f $0
Total Revenue from Contributions, Gifts, Grants & Similar$0
Total Program Service Revenue$2,998,350
Investment income $995,051
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 $4,047,763

Grants Awarded

Over the last fiscal year, Educap Inc has awarded $1,660,000 in support to 12 organizations.

Grant RecipientAmount

AMERICAN ACADEMY OF ACHIEVEMENT

Org PageRecipient Profile

Washington, DC

PURPOSE: GENERAL SUPPORT

$1,350,000

JOHN F KENNEDY CENTER FOR THE PERFORMING ARTS

Org PageRecipient Profile

Washington, DC

PURPOSE: GENERAL SUPPORT

$120,000

THE BOARD OF TRUSTEES OF THE LELAND STANFORD JUNIOR UNIVERSITY

Org PageRecipient Profile

Redwood City, CA

PURPOSE: GENERAL SUPPORT

$100,000

LIBRARY OF CONGRESS

PURPOSE: GENERAL SUPPORT

$25,000

THE WASHINGTON BALLET

Org PageRecipient Profile

Washington, DC

PURPOSE: GENERAL SUPPORT

$15,000

ALASKA AVIATION HERITAGE MUSEUM

Org PageRecipient Profile

Anchorage, AK

PURPOSE: GENERAL SUPPORT

$10,000
View Grant Profile

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