Salem Educational Foundation Inc
- Assets
- $461.9k
- Revenue
- $36.5k
- Investments
- $458.1k
- Employees
- 0
- Location
- Culpeper, VA
- Founding
- 10/1999
- Data as of
- 12/2023
- EIN
- 54-1946797
Organization Overview
Salem Educational Foundation Inc is located in Culpeper, VA. The organization was established in 1999. According to its NTEE Classification (B82) the organization is classified as: Scholarships & Student Financial Aid, 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. Salem 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 12/2023, Salem Educational Foundation Inc generated $36.5k in total revenue. This represents a relatively dramatic decline in revenue. Over the past 5 years, the organization has seen revenues fall by an average of (25.7%) each year. All expenses for the organization totaled $35.4k during the year ending 12/2023. You can explore the organizations financials more deeply in the financial statements section below.
Since 2020, Salem Educational Foundation Inc has awarded 48 individual grants totaling $110,888. If you would like to learn more about the grant giving history of this organization, scroll down to the grant profile section of this page.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Candice Southard Director | 1 | $0 | |
Cathy Stephenson President/secretary | 1 | $0 | |
Shelly Naccarato Treasurer | 1 | $0 | |
Janine Morrison Director | 1 | $0 | |
Patrick Kennedy Director | 1 | $0 | |
Nancy Sink Director | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $0 |
| Interest on Savings | $0 |
| Dividends & Interest | $8,205 |
| Net Rental Income | $0 |
| Net Gain on Sale of Assets | $28,310 |
| Capital Gain Net Income | $28,310 |
| Net ST Capital Gain | $0 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $0 |
| Other Income | $0 |
| Total Revenue | $36,515 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $0 |
| Other employee salaries and wages | $0 |
| Pension plans, employee benefits | $0 |
| Interest | $0 |
| Taxes | $0 |
| Depreciation | $0 |
| Occupancy | $0 |
| Travel, conferences, and meetings | $0 |
| Printing and publications | $0 |
| Other expenses | $590 |
| Total operating and administrative expenses | $590 |
| Contributions, gifts, grants paid | $34,844 |
| Total expenses and disbursements | $35,434 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $3,709 |
| Savings and temporary cash investments | $24 |
| Net Accounts receivable | $0 |
| Net Pledges Receivable | $0 |
| Grants receivable | $0 |
| Receivables from Officers, Directors, or Controlling Persons | $0 |
| Net other notes and loans receivable | $0 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $0 |
| Net Investments - land, buildings, equipment | $0 |
| Investments—mortgage loans | $0 |
| Investments—other | $458,142 |
| Net Land, buildings, and equipment | $0 |
| Other assets | $0 |
| Total assets | $461,875 |
| Accounts payable and accrued expenses | $0 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Mortgages and other notes payable | $0 |
| Other liabilities | $0 |
| Total liabilities | $0 |
Grants Awarded
Over the last fiscal year, Salem Educational Foundation Inc has awarded $34,844 in support to 14 organizations.
| Grant Recipient | Amount |
|---|---|
VALERIE ALVARADO-ALAS - JAMES MADIS PURPOSE: SCHOLARSHIP | $2,000 |
HUNTER LUTZ - UNIVERSITY OF VIRGINI PURPOSE: SCHOLARSHIP | $2,000 |
DESTINY WASHINGTON - JAMES MADISON PURPOSE: SCHOLARSHIP | $2,319 |
EMMA COMER - GEORGE MASON UNIVERSIT PURPOSE: SCHOLARSHIP | $2,025 |
SARAH SHRADER - VIRGINIA TECH UNIVE PURPOSE: SCHOLARSHIP | $2,000 |
MELISSA JENKINS-TEACHER OF THE YEAR PURPOSE: TEACHER OF YEAR AWARD | $500 |