National Education Foundation
- Assets
- $67.5m
- Revenue
- $1.7m
- Investments
- $0.0
- Employees
- 3
- Location
- Mc Lean, VA
- Founding
- 11/1990
- Data as of
- 12/2022
- EIN
- 54-1541457
Organization Overview
National Education Foundation is located in Mc Lean, VA. The organization was established in 1990. According to its NTEE Classification (B19) the organization is classified as: Support N.E.C., under the broad grouping of Education and related organizations. As of 12/2022, National Education Foundation employed 3 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. National Education 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 12/2022, National Education Foundation generated $1.7m in total revenue. This represents a relatively dramatic decline in revenue. Over the past 8 years, the organization has seen revenues fall by an average of (10.0%) each year. All expenses for the organization totaled $712.2k during the year ending 12/2022. As we would expect to see with falling revenues, expenses have declined by (11.4%) per year over the past 8 years. 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
2022
Describe the Organization's Mission:
Part 3 - Line 1
DEVELOP COMPUTER-ASSISTED PROGRAMS FOR STUDENTS AND ADULTS.
Describe the Organization's Program Activity:
Part 3 - Line 4a
PROVIDED SCHOLARSHIP TRAINING IN COMPUTER, INTERNET AND INFORMATION TECHNOLOGY, BUSINESS, K-12 SUBJECTS AND STEM+(SCIENCE, TECHNOLOGY, ENGINEERING, MATH, ENGLISH, SAT/ACT, IT, BUSINESS)TO STUDENTS AND ADULTS TO PREPARE THEM FOR COLLEGE AND THE WORKFORCE IN AN EFFECTIVE WAY TO BRIDGE THE ACADEMIC, DIGITAL, AND EMPLOYMENT DIVIDES. THESE PROGRAMS HAVE BENEFITED OVER 1,000,000 STUDENTS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Dr Appu Kuttan President | Trustee | 80 | $176,000 |
Roger Kuttan Vice President | Trustee | 40 | $44,000 |
Maya Kuttan Sec/treasurer | Trustee | 4 | $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 | $0 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $0 |
| Total Program Service Revenue | $112,785 |
| Investment income | $0 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $1,620,188 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $1,732,973 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| 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. | $228,800 |
| Compensation of current officers, directors, key employees. | $52,800 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $117,616 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $65,965 |
| Payroll taxes | $16,284 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $1,300 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $3,163 |
| Office expenses | $39,283 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $40,175 |
| Travel | $64,592 |
| 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 | $0 |
| All other expenses | $0 |
| Total functional expenses | $712,228 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $74,741 |
| 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 | $51,630,056 |
| Prepaid expenses and deferred charges | $0 |
| Net Land, buildings, and equipment | $0 |
| Investments—publicly traded securities | $15,812,196 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $67,516,993 |
| 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 | $0 |
| Paid-in or capital surplus, or land, building, or equipment fund | $0 |
| Retained earnings, endowment, accumulated income, or other funds | $67,516,993 |
| Total liabilities and net assets/fund balances | $67,516,993 |