506 Foundation Inc
- Assets
- $675.8k
- Revenue
- $138.0k
- Investments
- $0.0
- Employees
- 0
- Location
- Altamont, KS
- Founding
- 11/2003
- Data as of
- 06/2022
- EIN
- 56-2398236
Organization Overview
506 Foundation Inc is located in Altamont, KS. The organization was established in 2003. 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. 506 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, 506 Foundation Inc generated $138.0k in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 7.6% each year. All expenses for the organization totaled $56.3k during the year ending 06/2022. 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
THE PURPOSE IS TO PROVIDE A TAX-EXEMPT ORGANIZATION TO COLLECT, ADMINISTER AND DISTRIBUTE PRIVATE DONATIONS FOR THE BETTERMENT OF UNIFIED SCHOOL DISTRICT 506.
Describe the Organization's Program Activity:
Part 3 - Line 4a
COLLECTION AND ADMINISTRATION OF GRANTS AND SCHOLARSHIPS FOR UNIFIED SCHOOL DISTRICT 506 AND ITS STUDENTS
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Susan Dodsworth Treasurer | Officer | 2 | $6,616 |
Marjorie Falcon Secretary | Officer | 2 | $0 |
Chris Kastler Vice-President | Officer | 2 | $0 |
Glena Aikens President | Officer | 2 | $0 |
Samantha Hestand Director | Trustee | 1 | $0 |
Roy Thompson Director | Trustee | 1 | $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 | $101,929 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $101,929 |
| Total Program Service Revenue | $0 |
| Investment income | $36,103 |
| 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 | $138,032 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $47,334 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $6,616 |
| Compensation of current officers, directors, key employees. | $6,616 |
| 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 | $980 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $1,331 |
| Office expenses | $0 |
| 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 | $40 |
| Total functional expenses | $56,301 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $120,907 |
| Savings and temporary cash investments | $0 |
| 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 |
| Net Land, buildings, and equipment | $0 |
| Investments—publicly traded securities | $285,423 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $269,496 |
| Total assets | $675,826 |
| 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 | $0 |
| Net assets with donor restrictions | $0 |
| 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 | $675,826 |
| Total liabilities and net assets/fund balances | $675,826 |
Grants Recieved
Over the last fiscal year, we have identified 1 grants that 506 Foundation Inc has recieved totaling $156.
| Awarding Organization | Amount |
|---|---|
Amazonsmile Foundation Seattle, WA PURPOSE: GENERAL SUPPORT | $156 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Colorado Mesa University Foundation Grand Junciton, CO | $51,533,089 | $12,141,497 |
Dsst Public Schools Foundation Denver, CO | $32,542,761 | $13,664,687 |
Colorado State University-Pueblo Foundation Pueblo, CO | $68,008,177 | $8,127,637 |
Pittsburg State University Foundation Inc Pittsburg, KS | $127,952,768 | $13,650,196 |
University Of Central Missouri Foundation Warrensburg, MO | $77,602,876 | $17,903,644 |
K-State Olathe Innovation Campus Inc Olathe, KS | $45,049,185 | $10,222,325 |
Nebraska Defense Research Corporation Lincoln, NE | $12,097,402 | $14,649,208 |
Denver Public Library Friends Foundation Denver, CO | $13,953,540 | $6,255,598 |
Colorado Mountain College Foundation Inc Glenwood Springs, CO | $24,720,548 | $6,420,205 |
Southeast Missouri University Cape Girardeau, MO | $149,847,955 | $13,172,910 |
Kansas City Metropolitan Community Colleges Building Corporation Kansas City, MO | $76,627,089 | $5,759,935 |
Omaha Schools Foundation Omaha, NE | $37,386,550 | $8,451,839 |