Henrico Education Foundation Incorporated
- Assets
- $3.3m
- Revenue
- $10.0m
- Investments
- $0.0
- Employees
- 157
- Location
- Henrico, VA
- Founding
- 08/1993
- Data as of
- 06/2022
- 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 06/2022, Henrico Education Foundation Incorporated employed 157 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 06/2022, Henrico Education Foundation Incorporated generated $10.0m in total revenue. This organization has experienced exceptional growth, as over the past 7 years, it has increased revenue by an average of 59.5% each year . All expenses for the organization totaled $8.5m during the year ending 06/2022. While expenses have increased by 54.9% per year over the past 7 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
2022
Describe the Organization's Mission:
Part 3 - Line 1
TO STRENGTHEN PUBLIC EDUCATION BY ADVANCING INNOVATIVE PROGRAMS AND INITIATIVES DESIGNED TO IMPROVE STUDENT ACHIEVEMENT.
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.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Gerald Britt Chair | OfficerTrustee | 1 | $0 |
Anne Poates Vice Chair | OfficerTrustee | 1 | $0 |
Delphine Hartsel Treasurer | OfficerTrustee | 1 | $0 |
Robert Nomberg Secretary | OfficerTrustee | 1 | $0 |
John Delandro Past Chair | Trustee | 1 | $0 |
Wade T Anderson Director | Trustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $5,021 |
| Membership dues | $0 |
| Fundraising events | $350 |
| Related organizations | $0 |
| Government grants | $7,682,348 |
| All other contributions, gifts, grants, and similar amounts not included above | $1,292,908 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $8,980,627 |
| Total Program Service Revenue | $781,980 |
| Investment income | $19,413 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | $250,185 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $10,032,205 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $1,608,140 |
| Grants and other assistance to domestic individuals. | $15,404 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $110,534 |
| Compensation of current officers, directors, key employees. | $110,534 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $1,780,297 |
| Pension plan accruals and contributions | $38,502 |
| Other employee benefits | $68,215 |
| Payroll taxes | $101,863 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $7,203 |
| Fees for services: Accounting | $4,000 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $4,632 |
| Fees for services: Other | $18,675 |
| Advertising and promotion | $2,728 |
| Office expenses | $24,894 |
| Information technology | $83,836 |
| Royalties | $0 |
| Occupancy | $56,943 |
| Travel | $13,740 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $6,195 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $1,119 |
| Insurance | $12,525 |
| All other expenses | $18,316 |
| Total functional expenses | $8,531,271 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $1,898,629 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $42,500 |
| Accounts receivable, net | $850,694 |
| 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 | $16,745 |
| Net Land, buildings, and equipment | $18,520 |
| Investments—publicly traded securities | $424,214 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $3,251,302 |
| Accounts payable and accrued expenses | $79,584 |
| Grants payable | $0 |
| Deferred revenue | $120,000 |
| 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 | $10,552 |
| Total liabilities | $210,136 |
| Net assets without donor restrictions | -$1,015,062 |
| Net assets with donor restrictions | $4,056,228 |
| 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 | $3,251,302 |