Rockingham Educational Foundation Inc
- Assets
- $4.4m
- Revenue
- $103.0k
- Investments
- $0.0
- Employees
- 0
- Location
- Harrisonburg, VA
- Founding
- 10/1995
- Data as of
- 06/2023
- EIN
- 54-1735837
Organization Overview
Rockingham Educational Foundation Inc is located in Harrisonburg, VA. The organization was established in 1995. According to its NTEE Classification (B99) the organization is classified as: Education N.E.C., 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. Rockingham 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, Rockingham Educational Foundation Inc generated $103.0k 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 (14.5%) each year. All expenses for the organization totaled $362.7k 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
TO SUPPORT LEARNING BY SECURING FINANCIAL CONTRIBUTIONS AND EDUCATIONAL RESOURCES THAT BENEFIT THE STUDENTS AND TEACHERS OF ROCKINGHAM COUNTY PUBLIC SCHOOLS.
Describe the Organization's Program Activity:
Part 3 - Line 4a
SCHOLARSHIPS ARE PROVIDED UPON STRICT CRITERIA, AFTER SUBSTANTIAL REVIEW BY A COMMITTEE TO DETERMINE AWARDS. DUE CARE IS FOLLOWED TO AVOID CONFLICTS OF INTEREST WITH BOARD MEMBERS AND OFFICERS OF THE SCHOOL AND FOUNDATION. DURING THE SPRING OF 2023, REFI AWARDED 86 SCHOLARSHIPS TO 62 GRADUATING SENIORS FROM ROCKINGHAM COUNTY PUBLIC HIGH SCHOOLS.
EDUCATION GRANTS ARE AWARDED TO DESERVING TEACHERS WHO APPLY FOR AND RECEIVE REIMBURSEMENTS FOR EXPENSES FOR PROVIDING AN INNOVATIVE IDEA IN TEACHING STUDENTS. GRANT APPLICATIONS ARE ADVERTISED AND ACCEPTED ONE TO TWO TIMES PER YEAR, ONCE IN THE FALL AND ONCE IN THE SPRING, IF FUNDING ALLOWS. 150 APPLICATIONS ARE RECEIVED EACH YEAR WITH AWARDS BEING GIVEN TO APPROXIMATELY 80 GRANT RECIPIENTS.
TEACHER, STAFF AND ADMINISTRATION RECOGNITION PROGRAMS; EACH SPRING, REFI FACILITATES THE COORDINATION OF THE TEACHER OF THE YEAR PROGRAM IN EACH OF THE 24 ROCKINGHAM COUNTY PUBLIC SCHOOLS. REFI RECOGNIZES THESE INDIVIDUALS DURING A CELEBRATION RECEPTION IN THE SPRING. MEMBERS OF A COMMITTEE FROM REFI'S BOARD OF DIRECTORS SELECT ONE TEACHER AS THE "LUCY SIMMS EDUCATOR OF THE YEAR" RECIPIENT. THIS INDIVIDUAL REPRESNTS ROCKINGHAM COUNTY PUBLIC SCHOOLS DURING THE VIRGINIA DEPARTMENT OF EDUCATION'S "TEACHER OF THE YEAR SELECTION PROCESS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Susie Shomo Board Chair | OfficerTrustee | 4 | $0 |
Aaron Green Governance Chair | OfficerTrustee | 1 | $0 |
Kevin Longnecker Treasurer | OfficerTrustee | 4 | $0 |
Donna Harper Secretary | OfficerTrustee | 1 | $0 |
Paige Hawkins Co-Chair, Development | Trustee | 1 | $0 |
Amanda Nott Co-Chair, Development | Trustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $73,001 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $235,282 |
| Noncash contributions included in lines 1a–1f | $24,120 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $308,283 |
| Total Program Service Revenue | $0 |
| Investment income | $113,249 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | -$311,256 |
| Net Income from Fundraising Events | -$7,323 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $102,953 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $47,877 |
| Grants and other assistance to domestic individuals. | $163,295 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $51,200 |
| Compensation of current officers, directors, key employees. | $12,800 |
| 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 | $2,800 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $20,981 |
| Fees for services: Other | $2,194 |
| Advertising and promotion | $4,361 |
| Office expenses | $14,038 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $4,148 |
| 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 | $1,742 |
| All other expenses | $50,101 |
| Total functional expenses | $362,737 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $432,582 |
| 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 | $550 |
| Net Land, buildings, and equipment | $0 |
| Investments—publicly traded securities | $3,944,171 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $4,377,303 |
| Accounts payable and accrued expenses | $3,000 |
| 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 | $3,000 |
| Net assets without donor restrictions | $3,107,000 |
| Net assets with donor restrictions | $1,267,303 |
| 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 | $4,377,303 |
Grants Awarded
Over the last fiscal year, Rockingham Educational Foundation Inc has awarded $58,392 in support to 2 organizations.
| Grant Recipient | Amount |
|---|---|
ROCKINGHAM COUNTY PUBLIC SCHOOLS PURPOSE: INNOVATIVE IDEA GRANTS TO 24 AREA SCHOOLS | $55,992 |
ARTS COUNCIL OF THE VALLEY PURPOSE: EDUCATION GRANTS | $2,400 |