Jeannette Rankin Foundation Inc
- Assets
- $3.4m
- Revenue
- $1.6m
- Investments
- $0.0
- Employees
- 14
- Location
- Athens, GA
- Founding
- 12/1976
- Data as of
- 05/2023
- EIN
- 58-1273122
Organization Overview
Jeannette Rankin Foundation Inc is located in Athens, GA. The organization was established in 1976. According to its NTEE Classification (B99) the organization is classified as: Education N.E.C., under the broad grouping of Education and related organizations. As of 05/2023, Jeannette Rankin Foundation Inc employed 14 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Jeannette Rankin 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 05/2023, Jeannette Rankin Foundation Inc generated $1.6m in total revenue. This organization has experienced exceptional growth, as over the past 7 years, it has increased revenue by an average of 17.7% each year . All expenses for the organization totaled $1.2m during the year ending 05/2023. While expenses have increased by 13.1% per year over the past 7 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.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2023
Describe the Organization's Mission:
Part 3 - Line 1
SCHOLARSHIPS AND SUPPORT FOR LOW-INCOME WOMEN 35 AND OLDER.
Describe the Organization's Program Activity:
Part 3 - Line 4a
TO DATE WE HAVE AWARDED 2,265 SCHOLAR GRANTS IN THE AMOUNT OF $4,438,750. 75% OF RANKIN SCHOLARS ARE SINGLE MOTHERS, AND THESE FUNDS ARE VITAL TO THEIR ABILITY TO PURSUE THEIR EDUCATION WHILE CARING FOR THEIR FAMILIES. GRANTS ARE USED TO FILL GAPS FOR EXPENSES NOT COVERED BY TRADITIONAL SCHOLARSHIPS INCLUDING CHILDCARE, HOUSING, & GROCERIES. ACCORDING TO THE IWPR, THE U.S. WOULD GET A RETURN OF $5.05 FOR EVERY DOLLAR SPENT ON PROVIDING ADDITIONAL FINANCIAL AID TO SINGLE MOTHERS. WITH THE AWARD OF 185 $2,500 SCHOLAR GRANTS IN 2022-2023 & THE BALANCE DISBURSED IN EMERGENCY FUNDS/VOCATIONAL EDUCATION SUPPORT, THE RETURN ON INVESTMENT OF THIS YEAR'S SCHOLAR GRANT FUNDS WOULD BE $2,335,625.
OUR CASE MANAGEMENT AND COACHING SERVICES ARE OFFERED FREE OF CHARGE TO ALL SCHOLAR GRANT RECIPIENTS. THESE SUPPORT SERVICES AID SCHOLARS IN NAVIGATING THE CHALLENGES OF GOING TO SCHOOL, WORKING AND CARING FOR THEIR FAMILIES, AND THEY GREATLY IMPROVE OUTCOMES OF SUCCESS. THIS PAST YEAR, RANKIN SCHOLARS ACHIEVED A 94% PERSISTENCE RATE, THE RATE OF SCHOLARS WHO GRADUATED OR CONTINUED WITH THEIR EDUCATION. ACCORDING TO IWPR, EVERY DOLLAR INVESTED IN CASE MANAGEMENT AND COACHING WOULD PROVIDE A RETURN OF $5.48 FOR EACH DOLLAR SPENT. OUR PROGRAM TEAM SPENDS 50 HOURS EACH WEEK IN PROVIDING CASE MANAGEMENT AND COACHING, CREATING A RETURN OF $712,400 RETURN ON INVESTMENT ($130,000 X $5.48 = $712,400.)
Get More from Intellispect for FreeCreate a free account to get more data, nonprofit salaries, advanced search and more.
Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Karen Sterk Chief Executive Officer | Officer | 40 | $136,631 |
Betsy Bach Board Chair | OfficerTrustee | 1 | $0 |
Rozy Park Vice Chair | OfficerTrustee | 1 | $0 |
Jane Hale Hopkins Secretary | OfficerTrustee | 1 | $0 |
Tracy Cosgrove Treasurer | OfficerTrustee | 1 | $0 |
Vashti Canty Member At Large | OfficerTrustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $75,896 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $1,433,976 |
| Noncash contributions included in lines 1a–1f | $115,420 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $1,509,872 |
| Total Program Service Revenue | $0 |
| Investment income | $59,610 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $53,376 |
| Net Income from Fundraising Events | -$14,286 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $1,608,572 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $394,903 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $163,087 |
| Compensation of current officers, directors, key employees. | $15,327 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $171,948 |
| Pension plan accruals and contributions | $2,338 |
| Other employee benefits | $37,363 |
| Payroll taxes | $42,427 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $52,519 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $77,000 |
| Fees for services: Investment Management | $9,340 |
| Fees for services: Other | $51,317 |
| Advertising and promotion | $64,214 |
| Office expenses | $12,518 |
| Information technology | $19,317 |
| Royalties | $0 |
| Occupancy | $16,910 |
| Travel | $39,194 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $9,843 |
| Interest | $4,709 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $5,905 |
| Insurance | $733 |
| All other expenses | $1,858 |
| Total functional expenses | $1,237,796 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $35,116 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $1,117,853 |
| 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 | $129,377 |
| Investments—publicly traded securities | $2,119,339 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $3,401,685 |
| Accounts payable and accrued expenses | $21,911 |
| 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 | $107,943 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $0 |
| Total liabilities | $129,854 |
| Net assets without donor restrictions | -$43,731 |
| Net assets with donor restrictions | $3,315,562 |
| 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 | $3,401,685 |