School Foundation Inc
- Assets
- $2.7m
- Revenue
- $348.7k
- Investments
- $2.6m
- Employees
- 2
- Location
- Florence, SC
- Founding
- 03/2000
- Data as of
- 06/2024
- EIN
- 57-1092759
Organization Overview
School Foundation Inc is located in Florence, SC. The organization was established in 2000. According to its NTEE Classification (T30) the organization is classified as: Public Foundations, under the broad grouping of Philanthropy, Voluntarism & Grantmaking Foundations and related organizations. As of 06/2024, School Foundation Inc employed 2 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. School 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 06/2024, School Foundation Inc generated $348.7k in total revenue. This represents relatively stable growth, over the past 8 years the organization has increased revenue by an average of 6.3% each year. All expenses for the organization totaled $324.7k during the year ending 06/2024. While expenses have increased by 4.5% per year over the past 8 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.
Since 2015, School Foundation Inc has awarded 72 individual grants totaling $1,155,368. 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.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2024
Describe the Organization's Mission:
Part 3 - Line 1
THE SCHOOL FOUNDATION, INC. ("ASSOCIATION") IS A VOLUNTARY ASSOCIATION OF INDIVIDUALS OPERATED COLLECTIVELY TO SERVE THE NEEDS AND INTERESTS AND ADVANCE THE GENERAL WELFARE TO FLORENCE 1 SCHOOLS.THE SCHOOL FOUNDATION PROMOTES EDUCATIONAL EXCELLENCE IN FLORENCE, SC SCHOOL DISTRICT 1 THROUGH GRANTS FOR INNOVATIVE LEARNING AND THROUGH HIGH IMPACT INITIATIVES DESIGNED TO PREPARE ALL STUDENTS FOR SUCCESS.THE ORGANIZATION ACHIEVES ITS GOALS BY CONTRIBUTIONS TO SCHOOLS, SCHOOL PROGRAMS AND ADVOCACY OF QUALITY PUBLIC EDUCATION.THE ASSOCIATION WELCOMES EVERYONE IN FLORENCE 1 SCHOOLS WHICH IS A PUBLIC SCHOOL SYSTEM, REGARDLESS OF AGE, RACE, SEX, ETHNICITY, ABILITY OR RELIGION.
Describe the Organization's Program Activity:
Part 3 - Line 4a
PASS-THROUGH GRANTS RECEIVED FROM A FOUNDATION PROVIDED FOR THE FOLLOWING:ENHANCING LITERACY THROUGH DECODABLE READERS (WALLACE GREGG ELEMENTARY AND NORTH VISTA ELEMENTARY SCHOOLS) $28,775.CHORDS OF CHANGE: REVOLUTIONIZING MUSIC EDUCATION (WALLACE GREGG ELEMENTARY SCHOOL) $35,700.HARMONY IN PROGRESS: ELEVATING THE MUSIC EXPERIENCE (JOHN W MOORE MIDDLE SCHOOL) $35,229.POWERFUL PATHWAYS: USING VIRTUAL REALITY IN ADULT EDUCATION (FLORENCE 1 ADULT EDUCATION) $19,500.THE GIFT OF THE MIGHTY SOUND OF MUSIC (WEST FLORENCE HIGH SCHOOL) $23,944.A REFUND OF $26,700 RECEIVED FROM PREVIOUS GRANTS ABORTED FOR VARIOUS REASONS.THE REMAINING EXPENSES WERE ADDITIONAL COSTS THE SCHOOL FOUNDATION EXPENDED IN VARIOUS OTHER SMALL PROGRAMS BENEFITING FLORENCE 1 SCHOOLS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Jeff Helton Chairman | OfficerTrustee | 15 | $0 |
Ed A Love Vice Chairman | OfficerTrustee | 15 | $0 |
Courtney Cribb Treasurer | OfficerTrustee | 15 | $0 |
Marion Ford Secretary | OfficerTrustee | 15 | $0 |
Debbie Hyler Executive Director | OfficerTrustee | 40 | $76,331 |
Zach Bennett Board Member | Trustee | 5 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $240,367 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $60,453 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $300,820 |
| Total Program Service Revenue | $0 |
| Investment income | $54,308 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | -$33,124 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $348,704 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $143,148 |
| Grants and other assistance to domestic individuals. | $0 |
| 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 of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $104,991 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $8,032 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $4,875 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $25,896 |
| Fees for services: Other | $0 |
| Advertising and promotion | $7,049 |
| Office expenses | $280 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $11,302 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $7,229 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $1,699 |
| Insurance | $1,973 |
| All other expenses | $0 |
| Total functional expenses | $324,720 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $51,348 |
| 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 | $875 |
| Net Land, buildings, and equipment | $2,568 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $2,580,264 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $16,242 |
| Total assets | $2,651,297 |
| Accounts payable and accrued expenses | $5,180 |
| Grants payable | $0 |
| Deferred revenue | $18,700 |
| 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 | $16,242 |
| Total liabilities | $40,122 |
| Net assets without donor restrictions | $2,594,845 |
| Net assets with donor restrictions | $16,330 |
| 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 | $2,651,297 |
Grants Awarded
Over the last fiscal year, School Foundation Inc has awarded $143,148 in support to 6 organizations.
| Grant Recipient | Amount |
|---|---|
WALLACE GREGG ELEMENTARY SCHOOL PURPOSE: ENHANCING LITERACY THROUGH DECODABLE READERS | $14,388 |
NORTH VISTA ELEMENTARY SCHOOL PURPOSE: ENHANCING LITERACY THROUGH DECODABLE READERS | $14,387 |
WALLACE GREGG ELEMENTARY SCHOOL PURPOSE: CHORDS OF CHANGE: REVOLUTIONIZING MUSIC EDUCATION | $35,700 |
JOHN W MOORE MIDDLE SCHOOL PURPOSE: HARMONY IN PROGRESS: ELEVATING THE MUSIC EXPERIENCE | $35,229 |
FLORENCE 1 ADULT EDUCATION PURPOSE: POWERFUL PATHWAYS: USING VIRTUAL REALITY IN ADULT EDUCATION | $19,500 |
WEST FLORENCE HIGH SCHOOL PURPOSE: THE GIFT OF THE MIGHTY SOUND OF MUSIC | $23,944 |