Henderson County Education Foundation Inc
- Assets
- $1.2m
- Revenue
- $600.8k
- Investments
- $0.0
- Employees
- 3
- Location
- Hendersonville, NC
- Founding
- 05/1987
- Data as of
- 06/2022
- EIN
- 58-1734733
Organization Overview
Henderson County Education Foundation Inc is located in Hendersonville, NC. The organization was established in 1987. According to its NTEE Classification (B12) the organization is classified as: Fund Raising & Fund Distribution, under the broad grouping of Education and related organizations. As of 06/2022, Henderson County Education Foundation Inc employed 3 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Henderson County 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, Henderson County Education Foundation Inc generated $600.8k in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 9.6% each year. All expenses for the organization totaled $499.9k during the year ending 06/2022. While expenses have increased by 3.0% 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
2022
Describe the Organization's Mission:
Part 3 - Line 1
ENHANCE THE QUALITY OF LIFE IN HENDERSON COUNTY, NORTH CAROLINA BY ENRICHING THE EDUCATION OF STUDENTS, TEACHERS, AND THE LOCAL COMMUNITY.
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE FOUNDATION ADMINISTERED 45 SCHOLARSHIPS FOR GRADUATES OF HENDERSON COUNTY PUBLIC HIGH SCHOOLS. EACH SCHOLARSHIP HAS A SPECIFIC PURPOSE AND TAILORED ELIGIBILITY CRITERIA. THE SCHOLARSHIPS ARE MANAGED BY THE FOUNDATION'S PROGRAM COMMITTEE AND STAFF, WITH THE INVOLVEMENT OF HIGH SCHOOL COUNSELORS, TEACHERS, AND SCHOLARSHIP REVIEW COMMITTEES, INCLUDING MEMBERS OF THE HENDERSON COUNTY COMMUNITY.
GENERAL PROGRAMS-OTHER AWARDS, TO STUDENTS, TEACHERS, AND GRADUATES OF HENDERSON COUNTY PUBLIC SCHOOLS, TO ENRICH THE LEARNING OPPORTUNITIES FOR STUDENTS AND EXPENSES RELATED TO THE OPERATION OF THESE PROGRAMS.
HCEF SPRING FUND, FORMERLY "THE SPECIAL FUND FOR CHILDREN" WAS ESTABLISHED TO PROVIDE SUPPORT FOR CHILDREN'S NEEDS NOT OTHERWISE MET BY THE SCHOOL SYSTEM. SPRING FUNDS ARE PROVIDED ANNUALLY TO PRINCIPALS AT EACH OF THE SCHOOLS IN THE DISTRICT TO MEET THE DAY-TO-DAY EMERGENCIES AND OTHER NEEDS OF THE MOST VULNERABLE CHILDREN IN THE SYSTEM.
THE LEADER IN ME IS FRANKLIN COVEY'S WHOLE SCHOOL TRANSFORMATION PROCESS. IT TEACHES 21ST CENTURY LEADERSHIP AND LIFE SKILLS TO STUDENTS AND CREATES A CULTURE OF STUDENT EMPOWERMENT BASED ON THE IDEA THAT EVERY CHILD CAN BE A LEADER.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Jessica Collins President | OfficerTrustee | 3 | $0 |
Susan Thomas Vice Preside | OfficerTrustee | 3 | $0 |
Mark Russell Secretary | OfficerTrustee | 3 | $0 |
Patti Baker Treasurer | OfficerTrustee | 3 | $0 |
Christine Becker Director | Trustee | 1 | $0 |
Lauren Bollen Director | Trustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $61,434 |
| Related organizations | $0 |
| Government grants | $48,433 |
| All other contributions, gifts, grants, and similar amounts not included above | $477,505 |
| Noncash contributions included in lines 1a–1f | $7,760 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $587,372 |
| Total Program Service Revenue | $10,361 |
| Investment income | $25,456 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | -$22,957 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $600,776 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $101,855 |
| 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 | $74,969 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $4,887 |
| Fees for services: Management | $1,996 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $3,200 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $6,738 |
| Fees for services: Other | $8,541 |
| Advertising and promotion | $1,270 |
| Office expenses | $8,993 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $700 |
| Travel | $1,576 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $272 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $2,754 |
| All other expenses | $52,057 |
| Total functional expenses | $499,919 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $84,238 |
| Savings and temporary cash investments | $106,563 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $13,611 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $130,000 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $2,965 |
| Net Land, buildings, and equipment | $0 |
| Investments—publicly traded securities | $835,265 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $2,000 |
| Total assets | $1,174,642 |
| Accounts payable and accrued expenses | $19,375 |
| 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 | $19,375 |
| Net assets without donor restrictions | $184,661 |
| Net assets with donor restrictions | $970,606 |
| 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 | $1,174,642 |