Broward Education Foundation Inc
- Assets
- $13.1m
- Revenue
- $7.3m
- Investments
- $0.0
- Employees
- 9
- Location
- Fort Lauderdale, FL
- Founding
- 01/1985
- Data as of
- 06/2023
- EIN
- 59-2359433
Organization Overview
Broward Education Foundation Inc is located in Fort Lauderdale, FL. The organization was established in 1985. According to its NTEE Classification (B82) the organization is classified as: Scholarships & Student Financial Aid, under the broad grouping of Education and related organizations. As of 06/2023, Broward Education Foundation Inc employed 9 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Broward 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 06/2023, Broward Education Foundation Inc generated $7.3m in total revenue. This organization has experienced exceptional growth, as over the past 8 years, it has increased revenue by an average of 11.1% each year . All expenses for the organization totaled $6.0m during the year ending 06/2023. While expenses have increased by 7.7% 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.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2023
Describe the Organization's Mission:
Part 3 - Line 1
DEVELOPING,PROMOTING AND FUNDING EMERGING INITIATIVES THAT BENEFIT THE COMMUNITY. BEF SERVES AS A DIRECT SUPPORT ORGANIZATION OF BROWARD COUNTY PUBLIC SCHOOLS,OFFERING SCHOLARSHIPS,TEACHER GRANTS,CLASSROOM SUPPLIES, AND DISTRICT-WIDE RECOGNITION, AND ATHLETIC SHOWCASES.
Describe the Organization's Program Activity:
Part 3 - Line 4a
BROWARD EDUCATION FOUNDATIONS SCHOOL SUPPLY CENTER PROVIDES FREE SCHOOL SUPPLIES FOR STUDENTS IN NEED. THROUGH A COLLABORATIVE PARTNERSHIP WITH KIDS IN NEED FOUNDATION AND TREMENDOUS SUPPORT FROM BUSINESS AND COMMUNITY LEADERS, THE EDUCATORS IN SCHOOLS SERVING A HIGH PERCENTAGE OF ECONOMICALLY DISADVANTAGE STUDENTS SHOP FREE, TWICE A YEAR, IN THE SCHOOL SUPPLY CENTER.
BROWARD EDUCATION FOUNDATION AWARDS SCHOLORSHIPS TO QUALIFIED GRADUATING STUDENTS IN BROWARD COUNTY PUBLIC SCHOOLS. THESE SCHOLARSHIPS ARE PRIMARILY BASED ON NEED, AS WELL AS ON MERIT AND ACADEMIC ACHIEVEMENT. STUDENTS PURSUING A UNIVERSITY, COLLEGE OR VOCATIONAL EDUCATION RECEIVE SCHOLORSHIPS RANGING FROM $500 TO A FOUR -YEAR SCHOLORSHIP.
OTHER PROGRAMS
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Shea Ciriago Chief Executive Officer | Trustee | 40 | $122,683 |
Elizabeth Reynolds Chief Financial Officer | Officer | 40 | $85,625 |
Miller Burt Director | Trustee | 2 | $0 |
Vicky Cartwright Director | Trustee | 2 | $0 |
Stephanie Grutman Director | Trustee | 2 | $0 |
Susan Colton Director | Trustee | 2 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $556,984 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $6,460,240 |
| Noncash contributions included in lines 1a–1f | $2,515,725 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $7,017,224 |
| Total Program Service Revenue | $0 |
| Investment income | $235,666 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $7,349,000 |
| 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. | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $620,648 |
| Pension plan accruals and contributions | $139,992 |
| Other employee benefits | $128,086 |
| Payroll taxes | $60,590 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $260 |
| Fees for services: Accounting | $49,892 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $36,433 |
| Office expenses | $83,755 |
| Information technology | $18,241 |
| Royalties | $0 |
| Occupancy | $39,917 |
| Travel | $6,447 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $8,431 |
| Interest | $29,636 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $21,131 |
| Insurance | $16,394 |
| All other expenses | $413,133 |
| Total functional expenses | $6,042,708 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $1,052,467 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $40,000 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $1,754,489 |
| Prepaid expenses and deferred charges | $0 |
| Net Land, buildings, and equipment | $687,624 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $2,766,782 |
| Intangible assets | $0 |
| Other assets | $6,820,871 |
| Total assets | $13,122,233 |
| Accounts payable and accrued expenses | $57,799 |
| Grants payable | $0 |
| Deferred revenue | $942,813 |
| 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 | $545,659 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $2,683,813 |
| Total liabilities | $4,230,084 |
| Net assets without donor restrictions | $5,088,135 |
| Net assets with donor restrictions | $3,804,014 |
| 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 | $13,122,233 |
Grants Awarded
Over the last fiscal year, Broward Education Foundation Inc has awarded $1,498,825 in support to 2 organizations.
| Grant Recipient | Amount |
|---|---|
BROWARD COUNTY SCHOOLS PURPOSE: Student assistance | $1,498,825 |
OTHER PROGRAMS | | | $0 |