Polk Education Foundation And Business Partnership Inc
- Assets
- $9.5m
- Revenue
- $2.7m
- Investments
- $712.9k
- Employees
- 0
- Location
- Bartow, FL
- Founding
- 04/1990
- Data as of
- 06/2022
- EIN
- 59-2956529
Organization Overview
Polk Education Foundation And Business Partnership Inc is located in Bartow, FL. The organization was established in 1990. According to its NTEE Classification (B11) the organization is classified as: Single Organization Support, 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. Polk Education Foundation And Business Partnership 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, Polk Education Foundation And Business Partnership Inc generated $2.7m in total revenue. This represents relatively stable growth, over the past 8 years the organization has increased revenue by an average of 4.6% each year. All expenses for the organization totaled $2.0m during the year ending 06/2022. While expenses have increased by 0.0% 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
2022
Describe the Organization's Mission:
Part 3 - Line 1
TO LINK COMMUNITY RESOURCES WITH THE EDUCATIONAL NEEDS OF ITS STUDENTS.
Describe the Organization's Program Activity:
Part 3 - Line 4a
SCHOLARSHIPS - IN OUR ANNUAL SCHOLARSHIP PROGRAM, DONORS DECIDE THE CRITERIA USED FOR SELECTION, MOST FOCUS ON NEED AND OR ACADEMIC ABILITY. AWARDED FUNDS GENERALLY GO DIRECTLY TO THE INSTITUTION RATHER THAN THE STUDENT. PART OF OUR SCHOLARSHIP PROGRAM IS OUR TAKE STOCK IN CHILDREN (TSIC) PROGRAM, WHICH NOT ONLY PROVIDES A 2 OR 4 YEAR TUITION SCHOLARSHIP FOR STUDENTS IN FINANCIAL NEED, BUT EACH RECIPIENT IS ALSO MATCHED WITH A MENTOR WHILE THEY ARE IN HIGH SCHOOL AND GETS TO TAKE ADVANTAGE OF OTHER TSIC SUPPORT SERVICES SUCH AS STUDY SKILLS WORKSHOPS, FREE CULTURAL EXPERIENCES AND COLLEGE TOURS.
GENERAL - VARIOUS AWARD PROGRAMS AND DIRECT ASSISTANCE PROJECTS INVOLVING STUDENTS/TEACHERS DIRECTED TOWARDS MOTIVATING AND REWARDING VARIOUS EDUCATIONAL OBJECTIVES.
AMERICORPS POLK READS - PROVIDES ONE-ON-ONE READING TUTORING TO KINDERGARTEN - THIRD GRADE STUDENTS DEEMED BELOW GRADE LEVEL BY THEIR CLASSROOM TEACHER. TRAINED READING TUTORS WORK WITH THE TEACHER TO DETERMINE SKILLS TAUGHT AND STRATEGIES USED. TUTORING TAKES PLACE DURING THE SCHOOL DAY IN THE CHILD'S REGULAR READING BLOCK TO AVOID TRANSPORTATION ISSUES TO A TUTORING PROGRAM HELD BEFORE OR AFTER SCHOOL. MOST CHILDREN THAT HAVE BEEN TUTORED IN THIS PROGRAM HAVE GAINED AT LEAST ONE GRADE LEVEL IN READING, MOST TWO. ADDITIONALLY, TUTORS PROVIDE COMMUNITY SERVICE HOURS RELATED TO LITERACY.
GRANTS - THE POLK EDUCATION FOUNDATION PROVIDES GRANTS TO ASSIST SCHOOLS IN VARIOUS CAPACITIES. THE GRANT PROGRAMS ADMINISTERED WERE: THE TEACHER TO TEACHER CONNECTION, WHICH HELPS SHARE INNOVATIVE TEACHING PRACTICES AND PROVIDES GRANT MONIES TO CLASSROOMS TO REPLICATE THOSE PRACTICES; STEM EDUCATION GRANTS, WHICH PROVIDE SUPPLY MONEY FOR STEM LESSONS TAUGHT AS PART OF THE REQUIRED CURRICULUM; SCHOOL MATCHING GRANTS, WHICH OFFERED A MATCH FOR SCHOOLS TO USE TO RAISE LOCAL DOLLARS TO SUPPORT LITERACY, LOW PERFORMERS, PROFESSIONAL DEVELOPMENT FOR TEACHERS OR GRADUATION RATE NEEDS AT THEIR SCHOOL.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Tracy Mouncey President | OfficerTrustee | 0.5 | $0 |
Steve Warner Vice President | OfficerTrustee | 0.5 | $0 |
Matt Mucci Treasurer | OfficerTrustee | 0.5 | $0 |
Tracy Kimbrough Immediate Past President | OfficerTrustee | 0.5 | $0 |
Jacqueline Byrd Director | Trustee | 0.25 | $0 |
Nancy Dodd Director | Trustee | 0.25 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Total Revenue from Contributions, Gifts, Grants & Similar | $2,589,389 |
| Investment income | $149,689 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $19,680 |
| Net Income from Fundraising Events | -$25,930 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $2,738,541 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic individuals. | $851,284 |
| 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 to disqualified persons | $0 |
| Other salaries and wages | $146,315 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $28,457 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $23,678 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $54,649 |
| Fees for services: Other | $432,079 |
| Advertising and promotion | $5,772 |
| Office expenses | $37,144 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $6,535 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $2,751 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $23,195 |
| All other expenses | $0 |
| Total functional expenses | $1,964,802 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $2,454,892 |
| Savings and temporary cash investments | $456,035 |
| Pledges and grants receivable | $134,921 |
| 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 |
| Investments—publicly traded securities | $3,864,713 |
| Investments—other securities | $712,905 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $1,889,771 |
| Total assets | $9,513,237 |
| Accounts payable and accrued expenses | $40,057 |
| 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 | $40,057 |
| Net assets without donor restrictions | $2,532,868 |
| Net assets with donor restrictions | $6,940,312 |
| Capital stock or trust principal, or current funds | $0 |
| Paid-in or capital surplus, or land, building, or equipment fund | $0 |
| Total liabilities and net assets/fund balances | $9,473,180 |
Grants Awarded
Over the last fiscal year, Polk Education Foundation And Business Partnership Inc has awarded $29,573 in support to 4 organizations.
| Grant Recipient | Amount |
|---|---|
BABSON PARK ELEMENTARY PURPOSE: SUPPORT OF EDUCATIONAL PROGRAMS | $10,114 |
BERKLEY CHARTER ELEMENTARY PURPOSE: SUPPORT OF EDUCATIONAL PROGRAMS | $6,709 |
RIDGE COMMUNITY HIGH SCHOOL PURPOSE: SUPPORT OF EDUCATIONAL PROGRAMS | $6,457 |
BOK ACADEMY PURPOSE: SUPPORT OF EDUCATIONAL PROGRAMS | $6,293 |