The Schools Foundation Inc
- Assets
- $691.8k
- Revenue
- $474.0k
- Investments
- $327.8k
- Employees
- 4
- Location
- Huntsville, AL
- Founding
- 10/1991
- Data as of
- 06/2021
- EIN
- 58-1955411
Organization Overview
The Schools Foundation Inc is located in Huntsville, AL. The organization was established in 1991. According to its NTEE Classification (B11) the organization is classified as: Single Organization Support, under the broad grouping of Education and related organizations. As of 06/2021, Schools Foundation Inc employed 4 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Schools 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 06/2021, Schools Foundation Inc generated $474.0k in total revenue. This represents a relatively dramatic decline in revenue. Over the past 6 years, the organization has seen revenues fall by an average of (3.1%) each year. All expenses for the organization totaled $361.4k during the year ending 06/2021. As we would expect to see with falling revenues, expenses have declined by (2.9%) per year over the past 6 years. 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
THE MISSION OF THE SCHOOLS FOUNDATION IS TO CREATE HIGHER EXPECTATIONS AND WIDESPREAD COMMUNITY SUPPORT FOR THE SCHOOLS IN MADISON COUNTY, LEADING TO WORLD-CLASS PERFORMANCE OF PRINCIPALS, TEACHERS, AND STUDENTS.
Describe the Organization's Program Activity:
Part 3 - Line 4a
PRINCIPALLY SPEAKING IS A MODEL OF PROFESSIONAL DEVELOPMENT DESIGNED TO STRENGTHEN LEADERSHIP SKILLS AND TO BUILD A SUSTAINABLE NETWORK OF PROFESSIONAL SUPPORT AMONG PRINCIPALS. THROUGH A SERIES OF MEETINGS DESIGNED TO ENHANCE LEADERSHIP SKILLS, PRINCIPALS NETWORK AND LEARN FROM EACH OTHER, FOCUSING ON PRACTICES THAT SUPPORT EFFECTIVE TEACHING AND ACADEMIC ACHIEVEMENT FOR ALL STUDENTS. THE PRINCIPALLY SPEAKING NETWORK FOCUSES ON INSTRUCTION-BASED ISSUES, LOOKING AT PROCESSES, PRACTICES AND PROTOCOLS. THE GREATER THE DETAIL AND DEPTH OF THE PEER-DISCUSSION OF ANY ISSUE, THE GREATER THE OPPORTUNITY FOR PROFESSIONAL DEVELOPMENT AND THE GREATER THE VALUE TO THE PARTICIPANT. THE LEVEL OF ACTIVE INVOLVEMENT OF PRINCIPALS IS DETERMINED BY THE SUPPORT OF THE SUPERINTENDENT. FUNDING FROM THE STATE OF ALABAMA IS USED TO FURTHER THE REACH OF PRINCIPALLY SPEAKING NETWORK ACROSS NORTH ALABAMA.
A+ COLLEGE READY IS A PROGRAM THAT PARTNERS WITH 11 LOCAL HIGH SCHOOLS TO IMPLEMENT A VARIETY OF AP EXPANSION STRATEGIES. THESE INCLUDE EXTENSIVE FORMAL AND INFORMAL TRAINING OF TEACHERS, ADDITIONAL TIME ON TASK FOR STUDENTS, FINANCIAL INCENTIVES FOR STUDENTS AND TEACHERS BASED ON ACADEMIC RESULTS, AND CULTIVATION OF LEAD TEACHERS TO SUPPORT THE PROGRAM IN THEIR SCHOOLS AND MENTOR OTHER TEACHERS. A PRE-AP CURRICULUM WILL BE IMPLEMENTED IN THE SELECT MIDDLE SCHOOLS TO EXPAND THE PIPELINE OF STUDENTS PREPARED TO SUCCEED IN RIGOROUS AP COURSES. A+ COLLEGE READY WILL BUILD ON AND STRENGTHEN EXISTING AP INITIATIVES IN THE STATE.
NBCT - RAISE YOUR HAND IS A BOLD INITIATIVE TO HAVE THE NATION'S HIGHEST CONCENTRATION OF NATIONAL BOARD CERTIFIED TEACHERS, OR NBCTS, IN OUR HUNTSVILLE CITY, MADISON CITY, AND MADISON COUNTY SCHOOL SYSTEMS. NATIONAL BOARD CERTIFICATION IS THE MOST RESPECTED PROFESSIONAL CERTIFICATION AVAILABLE IN K-12 EDUCATION. THE INITIATIVE IS A PARTNERSHIP OF THE CREATIVE CITIES FUND, THE PHILANTHROPIC ARM OF THE HUNTSVILLE COMMITTEE OF 100, AND THE SCHOOLS FOUNDATION. THE $1 MILLION GOAL WILL FUND 500 NEW NBCTS IN FIVE YEARS ACROSS THE THREE SCHOOL SYSTEMS IN MADISON COUNTY.
RESTRICTED CONTRIBUTION DISBURSEMENTS - FROM TIME TO TIME, INDIVIDUAL DONATIONS ARE RECEIVED FOR SPECIFIC SCHOOLS AND FUNCTIONS SUCH AS FIELD TRIPS. THESE FUNDS ARE DISBURSED AS REQUESTED BY THE DONORS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Elizabeth D Fleming Executive Director | Officer | 40 | $65,000 |
Brenda Terry President | OfficerTrustee | 4 | $0 |
Bob Berinato Vice-President | OfficerTrustee | 4 | $0 |
Bill Marks Treasurer | OfficerTrustee | 4 | $0 |
Chris Wooten Secretary | OfficerTrustee | 4 | $0 |
Joel Guske Director | Trustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $82,425 |
| All other contributions, gifts, grants, and similar amounts not included above | $352,852 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $435,277 |
| Total Program Service Revenue | $0 |
| Investment income | $7,929 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $30,745 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $473,951 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| 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. | $73,310 |
| Compensation of current officers, directors, key employees. | $22,815 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $0 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $5,608 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $5,143 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $1,775 |
| Fees for services: Other | $0 |
| Advertising and promotion | $992 |
| Office expenses | $386 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $3,900 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $187 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $1,065 |
| All other expenses | $14,027 |
| Total functional expenses | $361,422 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $174,135 |
| Savings and temporary cash investments | $127,266 |
| Pledges and grants receivable | $33,850 |
| 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 | $28,734 |
| Investments—other securities | $327,824 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $691,809 |
| 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 | $917 |
| Total liabilities | $917 |
| Net assets without donor restrictions | $44,077 |
| Net assets with donor restrictions | $646,815 |
| 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 | $691,809 |
Grants Recieved
Over the last fiscal year, we have identified 3 grants that The Schools Foundation Inc has recieved totaling $64,781.
| Awarding Organization | Amount |
|---|---|
Community Foundation Of Greater Huntsville Huntsville, AL PURPOSE: EDUCATION | $57,232 |
National Space Club Huntsville Committee Inc Huntsville, AL PURPOSE: STEM SCHOLARSHIPS | $7,500 |
Amazonsmile Foundation Seattle, WA PURPOSE: GENERAL SUPPORT | $49 |
Endowment Analysis
| Beg. Balance | $287,611 |
| Earnings | $36,988 |
| Admin Expense | $1,775 |
| Net Contributions | $12,500 |
| Grants | $7,500 |
| Ending Balance | $327,824 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Georgia Tech Foundation Inc Atlanta, GA | $3,057,656,645 | $246,304,114 |
The University Of Tennessee Foundat Ion Inc Knoxville, TN | $742,610,209 | $198,804,674 |
University Of South Florida Foundation Inc Tampa, FL | $929,677,670 | $144,887,499 |
University Of Mississippi Foundation Oxford, MS | $716,526,476 | $64,727,887 |
Auburn University Foundation Auburn, AL | $857,894,187 | $96,896,842 |
Florida State University Foundation Inc Tallahassee, FL | $730,089,060 | $57,370,131 |
Spelman College Special Ventures Fund Inc Atlanta, GA | $236,389,415 | $26,274,154 |
Seminole Boosters Inc Tallahassee, FL | $240,991,921 | $48,392,781 |
University Of Florida Research Foundation Inc Gainesville, FL | $131,218,099 | $46,757,527 |
University Of Central Florida Foundation Inc Orlando, FL | $396,904,531 | $45,984,866 |
Florida International University Foundation Inc Miami, FL | $475,743,772 | $154,605,877 |
Shorter University Inc Rome, GA | $57,209,537 | $39,807,545 |