Madison County Foundation For Excellence In Education Inc
- Assets
- $61.6k
- Revenue
- $71.8k
- Investments
- $0.0
- Employees
- 0
- Location
- Madison, FL
- Founding
- 06/1992
- Data as of
- 06/2022
- EIN
- 59-3112453
Organization Overview
Madison County Foundation For Excellence In Education Inc is located in Madison, FL. The organization was established in 1992. According to its NTEE Classification (B82) the organization is classified as: Scholarships & Student Financial Aid, 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. Madison County Foundation For Excellence In Education 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, Madison County Foundation For Excellence In Education Inc generated $71.8k 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 (5.9%) each year. All expenses for the organization totaled $57.1k during the year ending 06/2022. As we would expect to see with falling revenues, expenses have declined by (25.7%) per year over the past 7 years. You can explore the organizations financials more deeply in the financial statements section below.
Since 2016, Madison County Foundation For Excellence In Education Inc has awarded 16 individual grants totaling $652,446. 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 IMPROVE THE QUALITY OF EDUCATION IN MADISON COUNTY, FL BY PROVIDING MENTORING SERVICES AND COLLEGE SCHOLARSHIPS TO ELIGIBLE STUDENTS, GRANTS FOR CLASSROOM
Describe the Organization's Program Activity:
Part 3 - Line 4a
TAKE STOCK IN CHILDREN: STUDENTS WHO MAINTAIN A 2.0 GPA; STAY FREE OF DRUGS, ALCOHOL, AND DISCIPLINE PROBLEMS; AND MEET WITH A MENTOR ONCE PER WEEK ARE, UPON GRADUATION, AWARDED A COLLEGE SCHOLARSHIP.
EDUCATION ASSISTANCE: SCHOLARSHIPS PURCHASED AND AWARDED TO THE NFCC FOUNDATION INC FOR FUTURE AWARDS TO STUDENTS.
MATCHING GRANTS: THE FOUNDATION PROVIDES ADDITIONAL RESOURCES TO THE MADISON COUNTY SCHOOL DISTRICT'S TEACHERS UPON APPLICATION AND APPROVAL.
TEACHER OF THE YEAR: THE FOUNDATION ANNUALLY RECOGNIZES THOSE TEACHERS WHO PROMOTE EXCELLENCE IN TEACHING.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Tim Sanders President | Trustee | 6 | $0 |
Dianne Phillips Secretary | Trustee | 4 | $0 |
Darren Webb Treasurer | Trustee | 6 | $0 |
Faye Browning Member | Trustee | 1 | $0 |
Lucile Day Member | Trustee | 1 | $0 |
Christi Annett Vice President | Trustee | 4 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $12,231 |
| All other contributions, gifts, grants, and similar amounts not included above | $59,588 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $71,819 |
| Total Program Service Revenue | $0 |
| Investment income | $0 |
| 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 | $71,819 |
| 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 | $0 |
| 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 | $0 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $0 |
| Office expenses | $0 |
| 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 | $19,778 |
| Total functional expenses | $57,143 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $52,992 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $7,944 |
| 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 | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $618 |
| Total assets | $61,554 |
| 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 | $0 |
| Total liabilities | $0 |
| Net assets without donor restrictions | $61,554 |
| Net assets with donor restrictions | $0 |
| 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 | $61,554 |
Grants Awarded
Over the last fiscal year, Madison County Foundation For Excellence In Education Inc has awarded $84,464 in support to 4 organizations.
| Grant Recipient | Amount |
|---|---|
MADISON COUNTY DISTRICT SCHOOLS PURPOSE: Classroom Assistance | $27,307 |
MADISON COUNTY DISTRICT SCHOOLS PURPOSE: Classroom Assistance | $27,307 |
Madison, FL PURPOSE: Education Assistance | $14,925 |
Madison, FL PURPOSE: Education Assistance | $14,925 |
Grants Recieved
Over the last fiscal year, we have identified 4 grants that Madison County Foundation For Excellence In Education Inc has recieved totaling $203,229.
| Awarding Organization | Amount |
|---|---|
North Florida College Foundation Inc Madison, FL PURPOSE: TRANSFER OF FLORIDA PREPAID 'TAKE STOCK IN CHILDREN' TUITION PLAN | $161,449 |
Tsic Inc Fort Lauderdale, FL PURPOSE: MENTORING | $31,775 |
The Duke Energy Foundation Charlotte, NC PURPOSE: VIBRANT ECONOMIES | $10,000 |
Amazonsmile Foundation Seattle, WA PURPOSE: GENERAL SUPPORT | $5 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Floridamakes Inc Orlando, FL | $1,478,174 | $9,967,367 |
Watson-Brown Foundation Inc Thomson, GA | $0 | $9,697,974 |
Alef Fund Inc Atlanta, GA | $10,107,377 | $6,194,898 |
Broward Education Foundation Inc Fort Lauderdale, FL | $12,469,303 | $5,256,121 |
University Of West Georgia Foundation Inc Carrollton, GA | $86,140,941 | $10,389,838 |
Coca-Cola Scholars Foundation Inc Atlanta, GA | $71,605,468 | $31,599,185 |
Uab Research Foundation Birmingham, AL | $14,400,184 | $5,771,462 |
Eminent Scholars Foundation Huntsville, AL | $0 | $754,182 |
Arete Scholars Fund Dacula, GA | $8,445,771 | $4,355,145 |
The Fund For Theological Education Inc Decatur, GA | $34,735,752 | $8,780,727 |
Gwinnett County Public Schools Foundation Fund Inc Suwanee, GA | $3,101,670 | $4,575,972 |
Florida Education Fund Inc Tampa, FL | $23,479,749 | $5,657,591 |