The Clinton Area Foundation For Education Inc
- Assets
- $334.0k
- Revenue
- $28.5k
- Investments
- $0.0
- Employees
- 0
- Location
- Clinton, NC
- Founding
- 06/1988
- Data as of
- 06/2017
- EIN
- 56-1422533
Organization Overview
The Clinton Area Foundation For Education Inc is located in Clinton, NC. The organization was established in 1988. 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. Clinton Area Foundation For Education 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 06/2017, Clinton Area Foundation For Education Inc generated $28.5k in total revenue. This represents a relatively dramatic decline in revenue. Over the past 3 years, the organization has seen revenues fall by an average of (10.6%) each year. All expenses for the organization totaled $39.5k during the year ending 06/2017. As we would expect to see with falling revenues, expenses have declined by (5.8%) per year over the past 3 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
2017
Describe the Organization's Mission:
Part 3 - Line 1
THE CLINTON AREA FOUNDATION FOR EDUCATION (HEREIN REFERRED TO AS CAFE") IS A NON-PROFIT ORGANIZATION WHOSE MISSION IS TO HELP THE CLINTON CITY SCHOOLS PUBLIC SCHOOL SYSTEM FURTHER THE QUALITY OF EDUCATION FOR ITS STUDENTS BY FUNDING CLASSROOM NEEDS NOT MET BY USUAL BUDGETARY MEANS.
Describe the Organization's Program Activity:
Part 3 - Line 4a
FUNDING CLASSROOM NEEDS NOT MET BY USUAL BUDGETARY MEANS THROUGH GRANTS.
PROVIDE FOR TEACHER OF THE YEAR AWARDS FOR EDUCATORS CHOSEN BY CLINTON CITY SCHOOLS' ADMINISTRATION.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Joan Tsao President | Officer | $0 | |
David Hobson Secretary | Officer | $0 | |
Wendy Cabral Treasurer | Trustee | $0 | |
Oneta Manuel Vice Preside | Trustee | $0 | |
Rev Thaddeus Godwin Member | Trustee | $0 | |
Ron Carter Member | Trustee | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Total Revenue from Contributions, Gifts, Grants & Similar | $15,395 |
| Investment income | $7,665 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $828 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $28,488 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic individuals. | $18,000 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| 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 | $650 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $1,584 |
| Fees for services: Other | $557 |
| Advertising and promotion | $0 |
| Office expenses | $1,529 |
| Information technology | $0 |
| 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 | $0 |
| All other expenses | $0 |
| Total functional expenses | $39,491 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $17,705 |
| Savings and temporary cash investments | $6,194 |
| 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 | $0 |
| Investments—publicly traded securities | $310,059 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $333,958 |
| Accounts payable and accrued expenses | $0 |
| 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 | $0 |
| Net assets without donor restrictions | $10,855 |
| Net assets with donor restrictions | $323,103 |
| Capital stock or trust principal, or current funds | $0 |
| Paid-in or capital surplus, or land, building, or equipment fund | $0 |
| Total liabilities and net assets/fund balances | $333,958 |
Grants Recieved
Over the last fiscal year, we have identified 1 grants that The Clinton Area Foundation For Education Inc has recieved totaling $200,000.
| Awarding Organization | Amount |
|---|---|
Anonymous Trust Raleigh, NC PURPOSE: GRANTS FOR DARK HORSE FELLOW PROGRAM (20,000 CHALLENGE 2023 & 2024; 80,000 OUTRIGHT 2023 & 2024) | $200,000 |
Endowment Analysis
| Beg. Balance | $257,567 |
| Earnings | $4,900 |
| Admin Expense | $898 |
| Grants | $18,000 |
| Ending Balance | $242,275 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
University Of Virginia Licensing & Ventures Group Charlottesville, VA | $21,114,215 | $9,580,641 |
Phoenix Academy Inc High Point, NC | $3,025,069 | $10,364,069 |
Elizabeth City State University Foundation Elizabeth City, NC | $21,052,714 | $2,780,872 |
Scago Educational Facilities Corporation For Pickens School Dis Easley, SC | $211,994,412 | $9,218,813 |
Unc-G Excellence Foundation Greensboro, NC | $187,420,574 | $12,267,071 |
Georgia Gwinnett College Foundationinc Lawrenceville, GA | $177,329,540 | $11,526,847 |
Augusta University Foundation Inc Augusta, GA | $77,382,154 | $9,045,973 |
University Of North Carolina At Asheville Foundation Inc Asheville, NC | $61,754,429 | $7,423,002 |
Marshall-Wythe School Of Law Foundation Williamsburg, VA | $56,391,482 | $7,245,738 |
Securing Assets For Education Moncks Corner, SC | $221,693,651 | $7,774,514 |
Horatio Alger Endowment Fund Alexandria, VA | $322,951,010 | $58,271,352 |
Old Dominion Athletic Foundation Norfolk, VA | $75,318,666 | $6,634,127 |