Alleghany Educational Foundation Inc
- Assets
- $8.2m
- Revenue
- $2.2m
- Investments
- $0.0
- Employees
- 0
- Location
- Sparta, NC
- Founding
- 08/1991
- Data as of
- 12/2021
- EIN
- 58-1955182
Organization Overview
Alleghany Educational Foundation Inc is located in Sparta, NC. The organization was established in 1991. According to its NTEE Classification (B82) the organization is classified as: Scholarships & Student Financial Aid, 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. Alleghany Educational 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 12/2021, Alleghany Educational Foundation Inc generated $2.2m in total revenue. This organization has experienced exceptional growth, as over the past 7 years, it has increased revenue by an average of 25.9% each year . All expenses for the organization totaled $308.5k during the year ending 12/2021. While expenses have increased by 3.7% 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
2021
Describe the Organization's Mission:
Part 3 - Line 1
EDUCATIONAL ASSISTANCE
Describe the Organization's Program Activity:
Part 3 - Line 4a
COLLEGE SCHOLARSHIPS AWARDED
SYMPHONY
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Karen Leys Secretary/tr | OfficerTrustee | 4 | $12,000 |
Jay Woodruff 1st Vice-Pre | OfficerTrustee | 0.5 | $0 |
Susan D Murphy 2nd Vice-Pre | OfficerTrustee | 0.5 | $0 |
Warren Taylor President | OfficerTrustee | 0.5 | $0 |
Pratt Davis Director | Trustee | 0.2 | $0 |
Jeff Cox Ex-Officio | Trustee | 0.2 | $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 | $1,299,660 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $1,299,660 |
| Total Program Service Revenue | $0 |
| Investment income | $106,639 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $766,412 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $2,172,711 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $26,200 |
| Grants and other assistance to domestic individuals. | $224,965 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $12,000 |
| 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 | $12,188 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $26,145 |
| Fees for services: Other | $0 |
| Advertising and promotion | $0 |
| 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 | $662 |
| Total functional expenses | $308,481 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $318,888 |
| 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 | $7,889,101 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $8,207,989 |
| 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 | $5,022,633 |
| Net assets with donor restrictions | $3,185,356 |
| 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 | $8,207,989 |
Grants Recieved
Over the last fiscal year, we have identified 1 grants that Alleghany Educational Foundation Inc has recieved totaling $56,100.
| Awarding Organization | Amount |
|---|---|
Roaring Gap Foundation Charlottesville, VA PURPOSE: SCHOLARSHIP | $56,100 |
Endowment Analysis
| Beg. Balance | $253,268 |
| Earnings | $2,383 |
| Ending Balance | $255,651 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Education Loan Finance Inc Knoxville, TN | $2,281,627,256 | $227,234,757 |
Educational Foundation Inc Chapel Hill, NC | $193,854,804 | $63,834,996 |
Nc Student Aid Association Inc Raleigh, NC | $102,296,557 | $23,877,668 |
Virginia Student Aid Foundation Charlottesville, VA | $165,530,915 | $45,876,846 |
Georgia Goal Scholarship Program Inc Peachtree Corners, GA | $58,000,031 | $45,569,079 |
Meeting Street Schools Charleston, SC | $31,326,851 | $31,027,510 |
Georgia State University Athletic Association Inc Atlanta, GA | $12,025,331 | $28,251,593 |
The North Carolina A&t Real Estate Foundation Inc Greensboro, NC | $169,150,909 | $33,021,773 |
Horatio Alger Association Of Distinguished Americans Inc Alexandria, VA | $58,355,936 | $27,092,429 |
Hca Healthcare Foundation Nashville, TN | $97,582,102 | $44,453,527 |
James Madison University Foundation Inc Harrisonburg, VA | $191,139,680 | $18,508,438 |
Marine Corps Scholarship Foundation Inc Alexandria, VA | $149,128,193 | $34,285,716 |