Rural Education Foundation
- Assets
- $9.5m
- Revenue
- $5.0m
- Investments
- $0.0
- Employees
- 135
- Location
- Farmville, VA
- Founding
- 08/1993
- Data as of
- 07/2022
- EIN
- 54-1673028
Organization Overview
Rural Education Foundation is located in Farmville, VA. The organization was established in 1993. According to its NTEE Classification (B20) the organization is classified as: Elementary & Secondary Schools, under the broad grouping of Education and related organizations. As of 07/2022, Rural Education Foundation employed 135 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Rural 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 07/2022, Rural Education Foundation generated $5.0m in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 5.1% each year. All expenses for the organization totaled $3.9m during the year ending 07/2022. 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
THE MISSION OF THE RURAL EDUCATION FOUNDATION IS TO CREATE A SAFE AND SUPPORTIVE LEARNING ENVIRONMENT WHICH FOSTERS THE DEVELOPMENT OF BOUNDLESS INDIVIDUAL POTENTIAL.
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE RURAL EDUCATION FOUNDATION OPERATES AN ACCREDITED PRIVATE SCHOOL WHERE ALL INCOME GENERATED IS IN CONNECTION WITH THE EDUCATIONAL PROGRAM OFFERED BY THE FACILITY.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Paul Reynolds Head Of Scho | Officer | 50 | $125,000 |
Darrell Hodges Board Member | Trustee | 5 | $0 |
Louise Waller Board Member | Trustee | 5 | $0 |
Robert Atkinson Board Member | Trustee | 5 | $0 |
John Gantt Board Member | Trustee | 5 | $0 |
Sandra Moss Board Member | Trustee | 5 | $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 | $1,463,366 |
| Noncash contributions included in lines 1a–1f | $4,808 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $1,463,366 |
| Total Program Service Revenue | $2,969,110 |
| Investment income | $104,838 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $5,201 |
| Net Gain/Loss on Asset Sales | $175,671 |
| Net Income from Fundraising Events | $205,917 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $5,047,370 |
| 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. | $125,000 |
| Compensation of current officers, directors, key employees. | $25,000 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $2,078,088 |
| Pension plan accruals and contributions | $10,476 |
| Other employee benefits | $126,518 |
| Payroll taxes | $159,424 |
| 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 | $38,296 |
| Fees for services: Other | $0 |
| Advertising and promotion | $0 |
| Office expenses | $0 |
| 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 | $73,573 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $162,084 |
| Insurance | $0 |
| All other expenses | $0 |
| Total functional expenses | $3,890,458 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $1,271,883 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $30,461 |
| 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 | $50,720 |
| Net Land, buildings, and equipment | $3,032,400 |
| Investments—publicly traded securities | $4,915,897 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $184,861 |
| Total assets | $9,486,222 |
| Accounts payable and accrued expenses | $113,593 |
| Grants payable | $0 |
| Deferred revenue | $558,089 |
| 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 | $1,565,163 |
| Other liabilities | $0 |
| Total liabilities | $2,236,845 |
| Net assets without donor restrictions | $1,931,250 |
| Net assets with donor restrictions | $5,318,127 |
| 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 | $9,486,222 |
Grants Recieved
Over the last fiscal year, we have identified 2 grants that Rural Education Foundation has recieved totaling $10,271.
| Awarding Organization | Amount |
|---|---|
National Christian Charitable Foundation Inc Alpharetta, GA PURPOSE: GROWTH | $10,000 |
Amazonsmile Foundation Seattle, WA PURPOSE: GENERAL SUPPORT | $271 |
Endowment Analysis
| Beg. Balance | $5,177,434 |
| Earnings | -$388,290 |
| Other Expense | -$271,209 |
| Ending Balance | $4,517,935 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Louisville Collegiate School Louisville, KY | $44,243,091 | $19,424,992 |
Milton Gottesman Jewish Day School Of The Nations Capital Washington, DC | $47,850,998 | $22,230,618 |
Lincoln Charter School Inc Denver, NC | $10,014,512 | $18,722,799 |
Kentucky Country Day School Inc Louisville, KY | $45,327,857 | $17,940,550 |
Imagine Schools Inc Vienna, VA | $112,554,052 | $31,881,932 |
Capstone Education Group Inc Memphis, TN | $24,521,664 | $20,250,688 |
Meridian Public Charter School Washington, DC | $25,835,715 | $17,496,957 |
St Paul's School For Girls Inc Brooklandville, MD | $0 | $15,914,099 |
Sayre School Lexington, KY | $37,948,520 | $16,925,718 |
St Johns Community Services - District Of Columbia Washington, DC | $113,804 | $20,352,755 |
Lexington Christian Academy Inc Lexington, KY | $37,177,484 | $18,280,442 |
Saint James School Inc Hagerstown, MD | $77,226,869 | $20,561,499 |