Richmond Public Schools Education Foundation Inc
- Assets
- $1.4m
- Revenue
- $1.2m
- Investments
- $0.0
- Employees
- 1
- Location
- Richmond, VA
- Founding
- 05/2001
- Data as of
- 06/2022
- EIN
- 54-2025186
Organization Overview
Richmond Public Schools Education Foundation Inc is located in Richmond, VA. The organization was established in 2001. According to its NTEE Classification (B11) the organization is classified as: Single Organization Support, 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. Richmond Public Schools Education 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 06/2022, Richmond Public Schools Education Foundation Inc generated $1.2m in total revenue. The organization has seen a slow decline revenue. Over the past 7 years, revenues have fallen by an average of (0.1%) each year. All expenses for the organization totaled $449.7k during the year ending 06/2022. As we would expect to see with falling revenues, expenses have declined by (12.9%) per year over the past 7 years. 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 INCREASE PRIVATE PHILANTHROPY COMING INTO THE SCHOOL SYSTEM TO SUPPORT NEW AND EXISTING PROGRAMS. TO BE A LIASON BETWEEN THE SCHOOL SYSTEM AND PRIVATE SECTOR TO ENSURE PROGRAMS ARE ALIGNED WITH THE RPS STRATEGIC OUTLOOK.
Describe the Organization's Program Activity:
Part 3 - Line 4a
RVA FUTURE CENTERS ARE HOUSED IN THE FIVE COMPREHENSIVE HIGH SCHOOLS AND STAFFED BY DEDICATED PROFESSIONALS WORKING TO CREATE, ORGANIZE AND IMPLEMENT CAREER/COLLEGE ACTIVITIES FOCUSED ON STUDENT SUCCESS BEYOND HIGH SCHOOL. CENTER DIRECTORS WORK IN PARTNERSHIP WITH THE RPS SCHOOL COUNSELING DEPARTMENT AND EXISTING COMMUNITY PARTNERS. RVA FUTURE CENTERS WORK WITH EACH STUDENT TO HELP THEM DEVELOP A PLAN FOR POST HIGH SCHOOL AND THEN IMPLEMENT THAT PLAN. STUDENTS MEET COLLEGE AND BUSINESS RECRUITERS, TOUR AREA COLLEGES AND BUSINESSES, RECEIVE SCHOLARSHIPS, COMPLETE APPLICATIONS, AND LEARN ABOUT THE OPPORTUNITIES THEY HAVE AVAILABLE AFTER HIGH SCHOOL.
COVID-19 - IN RESPONSE TO THE COVID-19 OUTBREAK, RICHMOND PUBLIC SCHOOLS CLOSED ALL SCHOOLS ON MARCH 15, 2020 AND TRANSITIONED TO A VIRTUAL LEARNING FORMAT. VIRTUAL LEARNING WAS AN ESPECIALLY SIGNIFICANT CHALLENGE FOR THE STUDENTS AND FAMILIES OF RPS, MANY OF WHOM DID NOT HAVE HOME COMPUTERS OR INTERNET ACCESS NEEDED FOR ONLINE SCHOOL. THE FOUNDATION RESPONDED TO THIS CHALLENGE BY RAISING $775,000 FOR THE PURCHASE OF CHROMEBOOKS AND INTERNET HOTSPOTS. IN ADDITION, THE FOUNDATION RAISED FUNDS TO PROVIDE FOOD FOR STUDENTS AND THEIR FAMILIES.
RPSEF PROVIDES DIRECT SUPPORT TO RICHMOND PUBLIC SCHOOLS FOR STUDENT PROGRAMMING, SCHOOL EQUIPMENT SUCH AS SOFTWARE, MUSICAL INSTRUMENTS AND POTTERY KILNS, AND SCHOOL BEAUTIFICATION PROJECTS. THE FOUNDATION SUPPORTS BOTH THE RICHMOND PUBLIC SCHOOLS DIRECTLY AS WELL AS THROUGH VARIOUS OTHER ORGANIZATIONS PROVIDING SERVICES AND SUPPORT TO THE RICHMOND PUBLIC SCHOOLS. IN THIS YEAR, PARTICULAR AREAS OF FOCUS WERE LITERACY, TEACHER RECRUITMENT, AND THE SUPPORT OF TEACHERS AND STUDENT IMPACTED BY THE FOX ELEMENTARY SCHOOL FIRE.
THE FOUNDATION ALSO RAISES MONEY AND DISTRIBUTES SCHOLARSHIPS TO GRADUATING RPS SENIORS WITH OUTSTANDING ACADEMIC, EXTRACURRICULAR, AND COMMUNITY ACHIEVEMENTS. THE GOAL OF THE FOUNDATION'S SCHOLARSHIPS IS TO HELP BRIDGE FUNDING GAPS FOR STUDENTS WHO ARE NOT OTHERWISE RECEIVING SIGNIFICANT FINANCIAL ASSISTANCE.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Ty Toepke Executive Director | Officer | 40 | $111,110 |
Theodore J Edlich IV Vice Chairperson | OfficerTrustee | 5 | $0 |
Corliss Archer Secretary | OfficerTrustee | 3 | $0 |
Donald Cowles Treasurer | OfficerTrustee | 3 | $0 |
Sarah Gross Chairwoman | OfficerTrustee | 5 | $0 |
Cheryl Burke Trustee | Trustee | 2 | $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 | $1,170,478 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $1,170,478 |
| Total Program Service Revenue | $0 |
| Investment income | $498 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $1,170,976 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $11,700 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $121,573 |
| Compensation of current officers, directors, key employees. | $48,629 |
| 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 | $0 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $77,563 |
| Advertising and promotion | $0 |
| Office expenses | $1,570 |
| Information technology | $4,634 |
| 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 | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $2,595 |
| All other expenses | $838 |
| Total functional expenses | $449,658 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $1,209,272 |
| Savings and temporary cash investments | $71,221 |
| Pledges and grants receivable | $119,161 |
| 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 | $0 |
| Net Land, buildings, and equipment | $0 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $1,399,654 |
| Accounts payable and accrued expenses | $14,112 |
| 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 | $14,112 |
| Net assets without donor restrictions | $223,708 |
| Net assets with donor restrictions | $1,161,834 |
| 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 | $1,399,654 |
Grants Awarded
Over the last fiscal year, Richmond Public Schools Education Foundation Inc has awarded $103,500 in support to 2 organizations.
| Grant Recipient | Amount |
|---|---|
RPS OFFICE OF COMMUNITY PARTNERSHIP PURPOSE: VOLUNTEER COORDINATOR & DATA MANAGEMENT POSITION SALARY ASSISTANCE | $88,500 |
HANDSON GREATER RICHMOND PURPOSE: VOLUNTEER COORDINATOR SALARY ASSISTANCE | $15,000 |
Grants Recieved
Over the last fiscal year, we have identified 8 grants that Richmond Public Schools Education Foundation Inc has recieved totaling $290,780.
| Awarding Organization | Amount |
|---|---|
Robins Foundation Richmond, VA PURPOSE: TO SUPPORT THE CHARITABLE MISSION OF THE RECIPIENT ORGANIZATION | $145,000 |
Carmax Foundation Richmond, VA PURPOSE: HOME OFFICE GIVING | $85,000 |
The Community Foundation Inc Richmond, VA PURPOSE: GENERAL PURPOSES | $21,000 |
Verizon Foundation Basking Ridge, NJ PURPOSE: RPSEF LITERACY AND OPERATIONS SUPPORT | $10,700 |
Network For Good Inc Washington, DC PURPOSE: UNRESTRICTED | $10,558 |
Richmond Kiwanis Foundation Richmond, VA PURPOSE: EDUCATION | $10,000 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
University Of Maryland College Park Foundation Inc College Park, MD | $869,831,500 | $109,216,276 |
The University Of Tennessee Foundat Ion Inc Knoxville, TN | $742,610,209 | $198,804,674 |
Nc State Investment Fund Inc Raleigh, NC | $1,930,063,391 | $166,344,497 |
University Of Louisville Foundation Inc Louisville, KY | $1,075,988,166 | $43,496,002 |
Old Dominion University Research Foundation Norfolk, VA | $35,170,684 | $51,598,508 |
University Of Virginia Darden School Foundation Charlottesville, VA | $664,692,543 | $80,428,705 |
Unc Health Foundation Inc Chapel Hill, NC | $571,825,040 | $92,147,897 |
William & Mary Foundation Williamsburg, VA | $1,122,551,962 | $79,373,462 |
University Of Virginia Foundation Charlottesville, VA | $508,958,321 | $36,530,024 |
North Carolina State University Foundation Inc Raleigh, NC | $679,121,022 | $52,520,062 |
University Health Services Inc Richmond, VA | $34,736,696 | $16,366,834 |
Medical College Of Virginia Foundation Richmond, VA | $645,911,510 | $54,318,573 |