Bay Education Foundation Inc
- Assets
- $2.4m
- Revenue
- $383.2k
- Investments
- $0.0
- Employees
- 6
- Location
- Panama City, FL
- Founding
- 01/1994
- Data as of
- 06/2022
- EIN
- 59-2987826
Organization Overview
Bay Education Foundation Inc is located in Panama City, FL. The organization was established in 1994. According to its NTEE Classification (T23) the organization is classified as: Private Operating Foundations, under the broad grouping of Philanthropy, Voluntarism & Grantmaking Foundations and related organizations. As of 06/2022, Bay Education Foundation Inc employed 6 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Bay 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, Bay Education Foundation Inc generated $383.2k in total revenue. This represents a relatively dramatic decline in revenue. Over the past 7 years, the organization has seen revenues fall by an average of (33.2%) each year. All expenses for the organization totaled $515.9k during the year ending 06/2022. 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
DEVELOP STUDENT POTENTIAL BY PROVIDING ENHANCED OPPORTUNITIES FOR A QUALITY EDUCATION AS WELL AS ENCOURAGE EMPLOYEES AND PROMOTE GREATER COMMUNITY INVOLVEMENT.
Describe the Organization's Program Activity:
Part 3 - Line 4a
TAKE STOCK IN CHILDREN-MENTORING PROGRAM FORM THE RECIPIENTS OF COLLEGE SCHOLARSHIPS. EACH RECIPIENT IS ASSIGNED A MENTOR TO GUIDE THEM THROUGH THE PROGRAM.
VARIOUS SCHOLARSHIPS AND STUDENT/TEACHER RECOGNITION PROGRAMS.
LIFELONG LEARNING PROGRAM-PROVIDES SCHOLARSHIPS TO TEACHERS TO ENHANCE THEIR ABILITY TO EDUCATE THE STUDENTS OF BAY COUNTY.
OTHER PROGRAM SERVICES
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Larry Carroll President | Officer | $0 | |
Cambridge Carruth Vice Preside | Officer | $0 | |
Terry Booker Board Member | Trustee | $0 | |
Shane Boyett Board Member | Trustee | $0 | |
Steven Clements Board Member | Trustee | $0 | |
Pat Commander Board Member | Trustee | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $233,637 |
| All other contributions, gifts, grants, and similar amounts not included above | $128,293 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $361,930 |
| Total Program Service Revenue | $0 |
| Investment income | $1,293 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | -$1,488 |
| Net Income from Fundraising Events | $17,409 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $383,198 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $293,008 |
| 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 | $141,779 |
| 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 | $11,575 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $2,737 |
| Fees for services: Other | $0 |
| Advertising and promotion | $0 |
| Office expenses | $17,304 |
| 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 | $49,517 |
| Total functional expenses | $515,920 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $741,726 |
| Savings and temporary cash investments | $361,821 |
| Pledges and grants receivable | $1,025,505 |
| 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 | $232,636 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $2,361,688 |
| Accounts payable and accrued expenses | $2,989 |
| Grants payable | $252,991 |
| Deferred revenue | $69,314 |
| 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 | $325,294 |
| Net assets without donor restrictions | $695,285 |
| Net assets with donor restrictions | $1,341,109 |
| 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 | $2,361,688 |
Grants Recieved
Over the last fiscal year, we have identified 10 grants that Bay Education Foundation Inc has recieved totaling $615,520.
| Awarding Organization | Amount |
|---|---|
The St Joe Community Foundation Inc Panama City Beach, FL PURPOSE: EDUCATION; COMMUNITY OUTREACH | $466,770 |
Tsic Inc Fort Lauderdale, FL PURPOSE: MENTORING | $96,527 |
Gulf Power Foundation Inc Pensacola, FL PURPOSE: TAKE STOCK IN CHILDREN SCHOLARSHIPS | $20,000 |
Gulf Power Foundation Inc Pensacola, FL PURPOSE: TEACHER GRANT PROGRAM | $20,000 |
Gulf Power Foundation Inc Pensacola, FL PURPOSE: TAKE STOCK IN CHILDREN SCHOLARSHIP | $10,000 |
Bank Of America Charitable Foundation Inc Charlotte, NC PURPOSE: OPERATIONAL SUPPORT | $1,000 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
The Rawlings Foundation Inc Palm Beach, FL | $157,491,316 | $53,710,829 |
Ichauway Inc Newton, GA | $38,010,143 | $29,470,336 |
Elevate Prize Foundation Inc Miami, FL | $25,599,159 | $21,836,715 |
Desai Sethi Foundation Inc miami, FL | $167,397,052 | $1,318,684 |
Mceachern Endowment Fund Inc Powder Springs, GA | $13,981,287 | $6,848,994 |
Malone Family Land Preservation Foundation Hobe Sound, FL | $131,481,954 | $946,463 |
Pebble Hill Foundation Inc Thomasville, GA | $45,568,261 | $2,596,354 |
Worthington Scholarship Foundation Naples, FL | $12,065,797 | $5,368,981 |
The Switzer Family Foundation Inc St Petersburg, FL | $0 | $574,920 |
Bangladesh American Society Of Muslim Aid For Humanity Inc Boca Raton, FL | $701,948 | $2,077,483 |
Elling O Eide Charitable Foundation Inc Sarasota, FL | $66,382,103 | $1,556,208 |
Paul Millsap Foundation Corp Atlanta, GA | $74,268 | $1,325,506 |