Salem Educational Foundation And Alumni Association
- Assets
- $5.5m
- Revenue
- $333.1k
- Investments
- $5.2m
- Employees
- 0
- Location
- Salem, VA
- Founding
- 05/1988
- Data as of
- 12/2021
- EIN
- 54-1253003
Organization Overview
Salem Educational Foundation And Alumni Association is located in Salem, VA. The organization was established in 1988. According to its NTEE Classification (B84) the organization is classified as: Alumni Associations, 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. Salem Educational Foundation And Alumni Association 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 12/2021, Salem Educational Foundation And Alumni Association generated $333.1k in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 2.4% each year. All expenses for the organization totaled $193.3k during the year ending 12/2021. 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
2021
Describe the Organization's Mission:
Part 3 - Line 1
DEVELOP AND MAINTAIN ENDOWMENTS WITH CONTRIBUTIONS FROM GRADUATES OF SALEM HIGH SCHOOL AND OTHER INTERESTED PARTIES. PROVIDE SCHOLARSHIPS FOR GRADUATING SENIORS OF SALEM HIGH SCHOOL. CREATE AN ALUMNI HALL OF FAME TO RECOGNIZE OUTSTANDING ACHIEVEMENTS BY GRADUATES OF SALEM HIGH SCHOOL.
Describe the Organization's Program Activity:
Part 3 - Line 4a
PROVIDE SCHOLARSHIPS TO GRADUATING SENIORS OF SALEM HIGH SCHOOL SALEM, VIRGINIA
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Missy Loving Director & Secretary | OfficerTrustee | 1.5 | $0 |
Mg James Archer Director & Vice President | OfficerTrustee | 0.1 | $0 |
Thomas M Mcdonald III Director, President | OfficerTrustee | 8 | $0 |
James A Robertson Director & Treasurer | OfficerTrustee | 10 | $0 |
Richard Hedley Director | Trustee | 0.1 | $0 |
Tommy Barber Director | Trustee | 0.1 | $0 |
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 | $178,538 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $178,538 |
| Total Program Service Revenue | $0 |
| Investment income | $112,670 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $41,891 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $333,099 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $155,746 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $0 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $0 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $9,500 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $24,714 |
| Fees for services: Other | $0 |
| Advertising and promotion | $0 |
| Office expenses | $1,015 |
| Information technology | $0 |
| 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 | $0 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $1,214 |
| All other expenses | $0 |
| Total functional expenses | $193,328 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $349,729 |
| 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 | $0 |
| Net Land, buildings, and equipment | $0 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $5,160,846 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $5,510,575 |
| Accounts payable and accrued expenses | $0 |
| Grants payable | $0 |
| 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 | $0 |
| Net assets without donor restrictions | $0 |
| Net assets with donor restrictions | $0 |
| Capital stock or trust principal, or current funds | $3,208,034 |
| Paid-in or capital surplus, or land, building, or equipment fund | $0 |
| Retained earnings, endowment, accumulated income, or other funds | $2,302,541 |
| Total liabilities and net assets/fund balances | $5,510,575 |
Grants Recieved
Over the last fiscal year, we have identified 1 grants that Salem Educational Foundation And Alumni Association has recieved totaling $19.
| Awarding Organization | Amount |
|---|---|
Amazonsmile Foundation Seattle, WA PURPOSE: GENERAL SUPPORT | $19 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
University Of Virginia Alumni Association Charlottesville, VA | $556,619,387 | $55,406,167 |
United States Naval Academy Alumni Assoc Annapolis, MD | $136,310,345 | $26,897,412 |
General Alumni Assoc Chapel Hill, NC | $118,995,183 | $8,416,070 |
North Carolina State University Alumni Association Raleigh, NC | $63,898,145 | $4,644,432 |
University Of Maryland Alumni Association Inc College Park, MD | $12,691,064 | $3,266,987 |
University Of Kentucky Alumni Association Inc Lexington, KY | $23,880,056 | $3,849,544 |
West Virginia University Alumni Association Inc Morgantown, WV | $18,753,718 | $1,910,317 |
Medical College Of Va Alumni Assoc Of Virginia Commonwealth Univ Richmond, VA | $0 | $190,238 |
Virginia Commonwealth Universi ALUMNI Richmond, VA | $0 | $210,514 |
Duke Alumni Association Inc Durham, NC | $792,785 | $1,542,394 |
V M I Alumni Association Lexington, VA | $3,901,860 | $1,387,698 |
Western Kentucky University Alumni Association Inc Bowling Green, KY | $10,394,906 | $2,845,412 |