Montgomery County Public Schools Educational Foundation Inc
- Assets
- $9.9m
- Revenue
- $3.6m
- Investments
- $0.0
- Employees
- 4
- Location
- Rockville, MD
- Founding
- 01/1990
- Data as of
- 06/2023
- EIN
- 52-1804509
Organization Overview
Montgomery County Public Schools Educational Foundation Inc is located in Rockville, MD. The organization was established in 1990. According to its NTEE Classification (B12) the organization is classified as: Fund Raising & Fund Distribution, under the broad grouping of Education and related organizations. As of 06/2023, Montgomery County Public Schools Educational Foundation Inc employed 4 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Montgomery County Public Schools 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 06/2023, Montgomery County Public Schools Educational Foundation Inc generated $3.6m in total revenue. This organization has experienced exceptional growth, as over the past 4 years, it has increased revenue by an average of 15.2% each year . All expenses for the organization totaled $3.2m during the year ending 06/2023. You can explore the organizations financials more deeply in the financial statements section below.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2023
Describe the Organization's Mission:
Part 3 - Line 1
THE MISSION OF THE MONTGOMERY COUNTY PUBLIC SCHOOLS (MCPS) EDUCATIONAL FOUNDATION IS TO SUPPORT STUDENT SUCCESS IN MCPS. THE FOUNDATION'S PROGRAMS SPAN FROM SCHOLARSHIPS TO STUDENTS, SMALL GRANTS TO EDUCATORS AND SCHOOLS, FUNDRAISING FOR STUDENT SUPPORTS SUCH AS PROVIDING BACKPACKS OF SUPPLIES, AND OTHER SUPPORT FOR THE STRATEGIC INITIATIVES OF MCPS.
Describe the Organization's Program Activity:
Part 3 - Line 4a
A GENEROUS GIFT FROM THE RUTH AND NORMAN RALES FOUNDATION ESTABLISHED THE RUTH AND NORMAN RALES-PATRICIA BAIER O'NEILL SCHOLARSHIP RECOGNIZING ACADEMIC EXCELLENCE FOR MCPS SENIORS. FROM THE CLASS OF 2023, 193 SENIORS WERE AWARDED THE FOUR-YEAR RALES-O'NEILL SCHOLARSHIP TOTALING $10,000. IN THE SPRING OF 2023, THE FOUNDATION RECOGNIZED ALL FOUNDATION SCHOLARSHIP AWARDEES, INCLUDING THE INAUGURAL RALES-O'NEILL RECIPIENTS, AT A BEAUTIFUL RECEPTION AND EVENT HELD AT THE STRATHMORE MUSIC CENTER THAT WAS KEYNOTED BY ROBERT KABERA, A YOUNG ENTREPRENEUR WHO FOCUSES ON USING ARTIFICIAL INTELLIGENCE TO PREDICT RISK ACROSS ENERGY, CLIMATE, AGRICULTURE, AND FINANCIAL SERVICES.
THE MCPS EDUCATIONAL FOUNDATION ALSO COMPLETED SEVERAL OTHER PROGRAM SERVICES (BOTH SCHOLARSHIP AND NON-SCHOLARSHIP) IN SUPPORT OF ITS MISSION DURING FY 23.
THE ONGOING FUNDING FROM THE HOWARD HUGHES MEDICAL INSTITUTE ENABLED MCPS TO CONTINUE MAKING FOUNDATIONAL CHANGES IN SCIENCE INSTRUCTION THAT ENABLE STUDENTS FROM ALL BACKGROUNDS TO ACTIVELY ENGAGE IN INNOVATIVE SCIENCE LEARNING EXPERIENCES. ACTIVITIES DURING FY 23 INCLUDED EXPANDING AND ENHANCING CLASSROOM AND LABORATORY EXPERIENCES, SUCH AS PROVIDING OVER 445 DNA RESOURCE CENTER INVESTIGATION KITS TO MIDDLE AND HIGH SCHOOL TEACHERS FROM THE DNA RESOURCE CENTER; CONTINUED PARTICIPATION OF STUDENTS FROM UNDERREPRESENTED POPULATIONS TO ATTEND STEM SUMMER CAMPS THAT PROVIDE LABORATORY AND FIELD EXPERIENCE IN THE LIFE, ENVIRONMENTAL, AND PHYSICAL SCIENCES; AND EXPANSION OF OPPORTUNITIES LIKE THE YOUTH CLIMATE SUMMER FOR STUDENTS TO TAKE ACTION ON SCIENTIFIC ISSUES.
THE JOSEPH D. BYRD SCHOLARSHIP PROVIDES A FOUR-YEAR SCHOLARSHIP TOTALING $40,000 TO STUDENTS AT POOLESVILLE HIGH SCHOOL. ESTABLISHED IN 2007, THIS IS ONE OF THE MOST GENEROUS AWARDS SUPPORTED BY THE FOUNDATION. FOUR SENIORS WERE AWARDED THE JOSEPH D. BYRD SCHOLARSHIP FROM THE CLASS OF 2023. AS THE COSTS OF POST-SECONDARY EDUCATION CONTINUE TO RISE, THE FOUNDATION IS PROUD TO HAVE A COMMUNITY OF PHILANTHROPIC DONORS SUPPORTING THE STUDENTS OF MCPS WITH THEIR CONTINUED EDUCATION AND CAREER PREPARATION. THE RALES-O'NEILL AND BYRD SCHOLARSHIPS REPRESENT A PORTION OF THE FOUNDATION'S ENDOWMENT THAT SUPPORTS ITS PROGRAMMING - SEE SCHEDULE D, PART V FOR AN AGGREGATE FIGURE.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Yolanda Johnson Pruitt Executive Director | Trustee | 32 | $0 |
Susie Leong Director | Trustee | 0 | $0 |
Arlandis Rush Director | Trustee | 0 | $0 |
Monifa Mcknight Superintendent Of Schools | Trustee | 0 | $0 |
Jennifer Nordheimer Director | Trustee | 0 | $0 |
Rebecca Smondrowski Director | Trustee | 0 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $5,887 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $2,897,951 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $2,903,838 |
| Total Program Service Revenue | $0 |
| Investment income | $19,154 |
| 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 | $3,575,894 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $694,236 |
| Grants and other assistance to domestic individuals. | $2,145,500 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $120,500 |
| Compensation of current officers, directors, key employees. | $120,500 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $50,636 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $13,092 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $0 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $0 |
| Office expenses | $20,057 |
| Information technology | $54,736 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $8,082 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $4,629 |
| All other expenses | $0 |
| Total functional expenses | $3,161,401 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $519,146 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $0 |
| 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 | $29,082 |
| Net Land, buildings, and equipment | $0 |
| Investments—publicly traded securities | $9,312,934 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $9,861,162 |
| Accounts payable and accrued expenses | $131,440 |
| Grants payable | $2,275,000 |
| Deferred revenue | $542,281 |
| 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 | $2,948,721 |
| Net assets without donor restrictions | $2,650,964 |
| Net assets with donor restrictions | $4,261,477 |
| 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 | $9,861,162 |
Grants Awarded
Over the last fiscal year, Montgomery County Public Schools Educational Foundation Inc has awarded $592,628 in support to 2 organizations.
| Grant Recipient | Amount |
|---|---|
MONTGOMERY COUNTY PUBLIC SCHOOLS PURPOSE: Science & General Education | $362,671 |
MONTGOMERY COUNTY PUBLIC SCHOOLS PURPOSE: School Based Projects | $229,957 |