Hillsborough Education Foundation Inc
- Assets
- $10.7m
- Revenue
- $10.1m
- Investments
- $0.0
- Employees
- 46
- Location
- Tampa, FL
- Founding
- 08/1988
- Data as of
- 06/2022
- EIN
- 59-2883361
Organization Overview
Hillsborough Education Foundation Inc is located in Tampa, FL. The organization was established in 1988. According to its NTEE Classification (B90) the organization is classified as: Educational Services, under the broad grouping of Education and related organizations. As of 06/2022, Hillsborough Education Foundation Inc employed 46 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Hillsborough 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, Hillsborough Education Foundation Inc generated $10.1m in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 5.1% each year. All expenses for the organization totaled $8.8m during the year ending 06/2022. While expenses have increased by 2.3% 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.
Since 2015, Hillsborough Education Foundation Inc has awarded 40 individual grants totaling $3,411,361. If you would like to learn more about the grant giving history of this organization, scroll down to the grant profile section of this page.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2022
Describe the Organization's Mission:
Part 3 - Line 1
TO STRENGTHEN PUBLIC EDUCATION IN HILLSBOROUGH COUNTY THROUGH INVESTMENT OF RESOURCES AND PROGRAMS.
Describe the Organization's Program Activity:
Part 3 - Line 4a
OUR TEACHING TOOLS RESOURCE CENTER PROVIDES CRITICAL SCHOOL SUPPLIES AND CLASSROOM RESOURCES TO TEACHERS IN TITLE I SCHOOLS, OUR HIGHEST-NEEDS PUBLIC SCHOOLS IN HILLSBOROUGH COUNTY, TO ENSURE ALL STUDENTS HAVE THE TOOLS THEY NEED FOR ACADEMIC SUCCESS. THE TEACHING TOOLS STORE, LOCATED AT HEF, IS PRIMARILY STOCKED THROUGH DONATIONS OF SCHOOL SUPPLIES FROM INDIVIDUALS AND BUSINESSES. THROUGHOUT THE SCHOOL YEAR, TEACHERS CAN SHOP FOR FREE SCHOOL SUPPLIES TO DISTRIBUTE TO THEIR STUDENTS. WITH THE HELP OF VOLUNTEERS, WHO GAVE 3,278 HOURS OF THEIR TIME, HEF WAS ABLE TO PROVIDE RESOURCES TO MORE THAN 160 SCHOOLS THAT SERVE MORE THAN 100,000 STUDENTS IN FY22.
AS AN AFFILIATE OF THE STATEWIDE TAKE STOCK IN CHILDREN MENTORING PROGRAM, HILLSBOROUGH EDUCATION FOUNDATION PROVIDES STUDENTS FROM LOW-INCOME FAMILIES WITH A CARING VOLUNTEER MENTOR WHO IS DEVOTED TO SUPPORTING A STUDENT'S ACADEMIC AND FUTURE SUCCESS, A COLLEGE SUCCESS COACH WHO IS INVOLVED IN EDUCATIONAL AND CAREER COUNSELING, AND THE OPPORTUNITY TO EARN AT LEAST A 2-YEAR COLLEGE SCHOLARSHIP. AS ONE OF THE LARGEST MENTORING PROGRAMS IN TAMPA BAY, DURING THE 2021-2022 SCHOOL YEAR, HEF SERVED 328 STUDENTS. ALL 73 STUDENTS IN THE 2022 SENIOR CLASS OF OUR MENTORING PROGRAM GRADUATED FROM HIGH SCHOOL-WELL ABOVE THE COUNTY AND STATE GRADUATION RATE. HEF ALSO AWARDS COMMUNITY SCHOLARSHIPS TO STUDENTS. FOR FY22, 244 STUDENTS WERE AWARDED A COMMUNITY SCHOLARSHIP TO CONTINUE THEIR EDUCATION AFTER GRADUATION.
THROUGH SCHOOL AND CLASSROOM ENRICHMENT GRANTS, HEF PROVIDES FUNDING FOR SCHOOLS AND TEACHERS TO INCREASE THEIR CAPACITY TO DELIVER EFFECTIVE AND INNOVATIVE INSTRUCTIONAL STRATEGIES THAT ENHANCE AND EXPAND EDUCATIONAL AND ENRICHMENT OPPORTUNITIES FOR STUDENTS. THE FOUNDATION AWARDED 116 GRANTS TO SUPPORT STEAM, LITERACY, ENGLISH LANGUAGE ARTS AND OTHER AREAS IMPACTING MORE THAN 27,000 STUDENTS IN 2021-2022.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Kimberly Jowell President, CEO | OfficerTrustee | 40 | $194,386 |
Michael Mccollum Cao | Officer | 40 | $106,982 |
Anna Laird Cpo | Officer | 40 | $81,899 |
Andrew Sturdon CFO Until 7/30/2021 | Officer | 40 | $64,865 |
Michelle Matis CFO Starting 8/30/2021 | Officer | 40 | $28,426 |
Drew Marshall Chair | OfficerTrustee | 2 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $291,792 |
| Related organizations | $0 |
| Government grants | $1,552,907 |
| All other contributions, gifts, grants, and similar amounts not included above | $7,795,243 |
| Noncash contributions included in lines 1a–1f | $4,202,860 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $9,639,942 |
| Total Program Service Revenue | $0 |
| Investment income | $236,083 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $208,037 |
| Net Income from Fundraising Events | -$43,448 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $10,065,447 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $695,191 |
| Grants and other assistance to domestic individuals. | $1,407,843 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $476,558 |
| Compensation of current officers, directors, key employees. | $40,781 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $1,094,488 |
| Pension plan accruals and contributions | $18,268 |
| Other employee benefits | $155,882 |
| Payroll taxes | $115,336 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $90 |
| Fees for services: Accounting | $37,595 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $23,145 |
| Fees for services: Other | $48,287 |
| Advertising and promotion | $29,336 |
| Office expenses | $96,009 |
| Information technology | $115,353 |
| Royalties | $0 |
| Occupancy | $73,562 |
| Travel | $72,170 |
| 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 | $52,376 |
| Insurance | $47,307 |
| All other expenses | $3,646 |
| Total functional expenses | $8,779,621 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $1,265,830 |
| Savings and temporary cash investments | $217,424 |
| Pledges and grants receivable | $830,770 |
| 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 | $14,635 |
| Net Land, buildings, and equipment | $330,264 |
| Investments—publicly traded securities | $5,275,959 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $2,796,783 |
| Total assets | $10,731,665 |
| Accounts payable and accrued expenses | $245,551 |
| Grants payable | $576,240 |
| Deferred revenue | $7,536 |
| 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 | $829,327 |
| Net assets without donor restrictions | $2,555,868 |
| Net assets with donor restrictions | $7,346,470 |
| 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 | $10,731,665 |
Grants Awarded
Over the last fiscal year, Hillsborough Education Foundation Inc has awarded $695,191 in support to 3 organizations.
| Grant Recipient | Amount |
|---|---|
HILLSBOROUGH COUNTY PUBLIC SCHOOLS PURPOSE: School and classroom enrichment, District wide support | $622,691 |
EVERFI INC PURPOSE: STEM Endeavor project | $60,000 |
Tampa, FL PURPOSE: 3DE Support | $12,500 |
Grants Recieved
Over the last fiscal year, we have identified 20 grants that Hillsborough Education Foundation Inc has recieved totaling $2,462,126.
| Awarding Organization | Amount |
|---|---|
Helios Education Foundation Phoenix, AZ PURPOSE: See Part IV | $1,395,850 |
Suncoast Credit Union Foundation Tampa, FL PURPOSE: 2021-2022 FUNDING | $298,200 |
Tsic Inc Fort Lauderdale, FL PURPOSE: MENTORING | $213,593 |
Mary & Bob Sierra Family Foundation Inc Tampa, FL PURPOSE: TO PROVIDE FUNDS FOR GENERAL OPERATING NEEDS OF ORGANIZATION. | $147,000 |
The Spurlino Foundation Odessa, FL PURPOSE: GENERAL OPERATING | $100,000 |
William A Gregory Jr Foundation Inc Tampa, FL PURPOSE: PROVIDE SUPPORT FOR ACTIVITIES | $80,000 |
Endowment Analysis
| Beg. Balance | $3,007,278 |
| Earnings | -$390,224 |
| Net Contributions | $10,500 |
| Other Expense | $134,798 |
| Ending Balance | $2,492,756 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Early Learning Coalition Of Floridas Heartland Inc Port Charlotte, FL | $2,212,537 | $18,405,437 |
Early Learning Coalition Of Okaloosa And Walton Counties Inc Shalimar, FL | $1,559,642 | $16,151,395 |
University Of North Georgia Foundation Inc Dahlonega, GA | $101,168,345 | $9,379,486 |
Usf Financing Corporation Tampa, FL | $387,045,696 | $13,998,407 |
Drs Kiran & Pallavi Patel 2017 Foundation For Global Understandin Tampa, FL | $0 | -$8,161,100 |
Southern Assoc Of Colleges And Schools Commission On Colleges Inc Decatur, GA | $21,107,199 | $13,477,936 |
White Hall Enrichment Advancement Team Hayneville, AL | $52,157 | $11,823,582 |
A Gift For Teaching Inc Orlando, FL | $5,328,629 | $9,022,570 |
Ninja Academy Incorporated Hollywood, FL | $2,893,530 | $10,861,940 |
Hillsborough Education Foundation Inc Tampa, FL | $10,731,665 | $10,065,447 |
The Cottage School Educational Resource Center Inc Roswell, GA | $19,413,651 | $9,463,796 |
Slam Foundation Inc Miami, FL | $8,480,329 | $6,817,017 |