Henrico Education Foundation Incorporated
- Assets
- $1.9m
- Revenue
- $5.3m
- Investments
- $0.0
- Employees
- 117
- Location
- Henrico, VA
- Founding
- 08/1993
- Data as of
- 06/2021
- EIN
- 54-1893274
Organization Overview
Henrico Education Foundation Incorporated is located in Henrico, VA. The organization was established in 1993. According to its NTEE Classification (B82) the organization is classified as: Scholarships & Student Financial Aid, under the broad grouping of Education and related organizations. As of 06/2021, Henrico Education Foundation Incorporated employed 117 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Henrico Education Foundation Incorporated 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 06/2021, Henrico Education Foundation Incorporated generated $5.3m in total revenue. This organization has experienced exceptional growth, as over the past 6 years, it has increased revenue by an average of 55.1% each year . All expenses for the organization totaled $4.7m during the year ending 06/2021. While expenses have increased by 50.9% per year over the past 6 years. They've been increasing with an increasing level of total revenue. 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
TO STRENGTHEN PUBLIC EDUCATION BY ADVANCING INNOVATIVE PROGRAMS AND INITIATIVES DESIGNED TO IMPROVE STUDENT ACHEIVEMENT.
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE FOUNDATION'S PROGRAMS PREPARE PRE-K-12 STUDENTS FOR SUCCESS IN COLLEGE, CAREER, AND COMMUNITY; STRENGTHEN EDUCATIONAL LEADERS; DEVELOP STRONG COMMUNITIES THAT IMPACT SCHOOL SUCCESS, AND SERVE AS A CATALYST FOR INNOVATION IN HENRICO COUNTY, VIRGINIA PUBLIC SCHOOLS.
LEARNING AND DISCOVERY PROGRAM - OUR LEARNING AND DISCOVERY PROGRAM PROVIDES A WIDE VARIETY OF ENRICHMENT ACTIVITIES DESIGNED TO SUPPORT STUDENT ACHIEVEMENT IN A SAFE AND FUN ENVIRONMENT. SAMPLE ACTIVITIES INCLUDE: ROBOTICS AND S.T.E.M. PROGRAMS, WRITING, POETRY, JOURNALISM, READING AND LANGUAGE, MUSIC AND MOVEMENT, ENVIRONMENTAL STEWARDSHIP, SERVICE LEARNING, PUBLIC SPEAKING, DRAMA, ATHLETICS, YOGA, HOMEWORK SUPPORT, CHESS AND ART.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Mike Taylor Chief Executive Officer (non-Voting) | Officer | 50 | $93,942 |
Gerald Britt Vice President | OfficerTrustee | 1 | $0 |
John Delandro President | OfficerTrustee | 1 | $0 |
Delphine Hartsel Treasurer | OfficerTrustee | 1 | $0 |
Robert Nomberg Secretary | OfficerTrustee | 1 | $0 |
Anne Poates Advisory Council Chair | OfficerTrustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $39 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $2,809,733 |
| All other contributions, gifts, grants, and similar amounts not included above | $1,788,005 |
| Noncash contributions included in lines 1a–1f | $9,102 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $4,597,777 |
| Total Program Service Revenue | $653,660 |
| Investment income | $16,060 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $5,356 |
| Net Income from Fundraising Events | $41,074 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $5,313,927 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $2,863,072 |
| Grants and other assistance to domestic individuals. | $23,695 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $102,576 |
| Compensation of current officers, directors, key employees. | $34,192 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $1,365,469 |
| Pension plan accruals and contributions | $9,149 |
| Other employee benefits | $18,787 |
| Payroll taxes | $111,676 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $15,800 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $3,892 |
| Fees for services: Other | $37,896 |
| Advertising and promotion | $2,909 |
| Office expenses | $5,007 |
| Information technology | $6,870 |
| Royalties | $0 |
| Occupancy | $52,287 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $12,930 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $2,180 |
| Insurance | $8,733 |
| All other expenses | $9,183 |
| Total functional expenses | $4,718,115 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $953,605 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $62,399 |
| Accounts receivable, net | $364,950 |
| 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 | $23,766 |
| Net Land, buildings, and equipment | $19,714 |
| Investments—publicly traded securities | $485,037 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $1,111 |
| Total assets | $1,910,582 |
| Accounts payable and accrued expenses | $270,824 |
| Grants payable | $0 |
| Deferred revenue | $294,070 |
| 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 | $564,894 |
| Net assets without donor restrictions | $274,750 |
| Net assets with donor restrictions | $1,070,938 |
| 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 | $1,910,582 |
Grants Recieved
Over the last fiscal year, we have identified 16 grants that Henrico Education Foundation Incorporated has recieved totaling $4,352,971.
| Awarding Organization | Amount |
|---|---|
Virginia Early Childhood Foundation Henrico, VA PURPOSE: CHILDHOOD/EDUCATIONAL DEVELOPMENT | $4,048,522 |
Charities Aid Foundation America Alexandria, VA PURPOSE: CHARITABLE DONATION | $50,000 |
American Online Giving Foundation Inc Newark, DE PURPOSE: GENERAL SUPPORT | $35,649 |
Annabella R Jenkins Foundation Richmond, VA PURPOSE: CAPACITY BUILDING:INTEGRATED HEALTHCARE FOR STUDENTS FROM HIGH-POVERTY SCHOOLS IN HENRICO | $30,000 |
Tides Foundation San Francisco, CA PURPOSE: QUALITY EDUCATION | $25,000 |
Richard S Reynolds Foundation Richmond, VA PURPOSE: GRANTS TO ADDRESS ACHIEVEMENT GAPS | $25,000 |
Endowment Analysis
| Beg. Balance | $99,283 |
| Earnings | -$4,122 |
| Net Contributions | $28,953 |
| Ending Balance | $124,114 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Somerset Community Services Inc Marion Station, MD | $23,511,474 | $20,221,070 |
American Association Of University Women Inc Washington, DC | $138,843,361 | $18,528,803 |
Hca Healthcare Foundation Nashville, TN | $97,582,102 | $44,453,527 |
James Madison University Foundation Inc Harrisonburg, VA | $191,139,680 | $18,508,438 |
Indian Paintbrush Foundation Washington, DC | $2,617,521,485 | $1,521,981,843 |
Marine Corps Scholarship Foundation Inc Alexandria, VA | $149,128,193 | $34,285,716 |
Children Of Fallen Patriots Foundation Reston, VA | $18,264,760 | $13,060,746 |
District Of Columbia College Access Program Washington, DC | $105,959,870 | $18,161,486 |
The Hartwell Foundation Corporation Memphis, TN | $88,595,532 | $17,280,759 |
Asian And Pacific Islander American Scholarship Fund Washington, DC | $37,686,826 | $13,616,717 |
Morehead Cain Foundation Chapel Hill, NC | $0 | $13,275,596 |
Education Foundation Scholarship Endowment Trust Chapel Hill, NC | $389,903,195 | $25,351,334 |