Central Florida Electric Cooperative Educational Charity In
- Assets
- $826.0k
- Revenue
- $154.7k
- Investments
- $0.0
- Employees
- 0
- Location
- Chiefland, FL
- Founding
- 06/1999
- Data as of
- 12/2022
- EIN
- 59-3512777
Organization Overview
Central Florida Electric Cooperative Educational Charity In is located in Chiefland, FL. The organization was established in 1999. 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. Central Florida Electric Cooperative Educational Charity In 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 12/2022, Central Florida Electric Cooperative Educational Charity In generated $154.7k in total revenue. This organization has experienced exceptional growth, as over the past 8 years, it has increased revenue by an average of 54.5% each year . All expenses for the organization totaled $108.9k during the year ending 12/2022. While expenses have increased by 38.3% 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
THE CENTRAL FLORIDA ELECTRIC COOPERATIVE EDUCATIONAL CHARITY, INC (CFECEC,INC) IS AN ORGANIZATION WHOSE PURPOSE IS EXCLUSIVELY EDUCATIONAL AND CHARITABLE AND IS TO SECURE AND DISTRIBUTE CONTRIBUTIONS FROM INDIVIDUALS,CORPORATIONS, GOVERNMENT ENTITIES AND FOUNDATIONS FOR SCHOLARSHIPS TO AND FOR GRADUATES OF HIGH SCHOOLS WITHIN THE COOPERATIVE SERVICE AREA AND WHOSE PARENT(S) OR LEGAL GUARDIAN(S) HAVE AN ACTIVE MEMBERSHIP WITH CENTRAL FLORIDA ELECTRIC COOPERATIVE, INC. APPLICATIONS ARE RECEIVED BY THE CFECEC, INC. AND ARE SORTED BY HIGH SCHOOL WITHIN THE CENTRAL FLORIDA ELECTRIC COOPERATIVE, INC SERVICE TERRITORY. COMMITTEES ARE BROKEN OUT OF THE CHARITY BOARD TO REVIEW THE DIFFERENT APPLICANTS FROM EACH SCHOOL. AN APPLICANT FROM EACH SCHOOL IS THEN CHOSEN BASED UPON THE FOLLOWING CRITERIA; GPA, FINANCIAL NEED, COMMUNITY SERVICE INVOLVEMENT, CLUBS/ORGANIZATIONS INVOLVEMENT, STUDENT WRITTEN ESSAY AND ANY ADDITIONAL CONSIDERATIONS OF NOTE.
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE ORGANIZATION AWARDED 36 SCHOLARSHIPS OF $1,000 EACH TO HIGH SCHOOL GRADUATES WITHIN THE HIGH SCHOOLS OF THE CENTRAL FLORIDA ELECTRIC COOPERATIVE, INC'S SERVICE TERRITORY. THE ORGANIZATION ALSO AWARDED 45 SCHOLARSHIPS TO ADULTS WITHIN THE CENTRAL FLORIDA ELECTRIC COOPERATIVE, INC'S SERVICE TERRITORY.
THE ORGANIZATION AWARDED GRANTS TO 3 LOCAL EDUCATIONAL CHARITIES WITHIN THE CENTRAL FLORIDA ELECTRIC COOPERATIVE, INC'S SERVICE TERRITORY.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Michael Osteen President | OfficerTrustee | 1 | $0 |
Michelle Crawford V President | OfficerTrustee | 1 | $0 |
Justin Jones Treasurer | OfficerTrustee | 1 | $0 |
Kathryn Mcinnis Secretary | OfficerTrustee | 1 | $0 |
Babara Townsend Director | Trustee | 1 | $0 |
Desiree Mills Director | Trustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $141,728 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $141,728 |
| Total Program Service Revenue | $0 |
| Investment income | $13,008 |
| 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 | $154,736 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $25,000 |
| Grants and other assistance to domestic individuals. | $81,000 |
| 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 | $750 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $1,907 |
| 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 | $0 |
| Total functional expenses | $108,914 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $826,023 |
| Pledges and grants receivable | $0 |
| 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 | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $826,023 |
| 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 | $0 |
| 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 | $826,023 |
| Total liabilities and net assets/fund balances | $826,023 |
Grants Awarded
Over the last fiscal year, Central Florida Electric Cooperative Educational Charity In has awarded $25,000 in support to 3 organizations.
| Grant Recipient | Amount |
|---|---|
Bronson, FL PURPOSE: SUPPORT LOCAL EDUCATION FOUNDATION IN THEIR SCHOLARSHIP PROGRAMS FOR STUDENTS AND TEACHERS. | $13,600 |
Cross City, FL PURPOSE: SUPPORT LOCAL EDUCATION FOUNDATION IN THEIR SCHOLARSHIP PROGRAMS FOR STUDENTS AND TEACHERS. | $5,700 |
Trenton, FL PURPOSE: SUPPORT LOCAL EDUCATION FOUNDATION IN THEIR SCHOLARSHIP PROGRAMS FOR STUDENTS AND TEACHERS. | $5,700 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Georgia Goal Scholarship Program Inc Peachtree Corners, GA | $58,000,031 | $45,569,079 |
Georgia State University Athletic Association Inc Atlanta, GA | $12,025,331 | $28,251,593 |
Vinik Family Foundation Tampa, FL | $192,173,639 | $29,773,809 |
Hire Heroes Usa Alpharetta, GA | $7,840,449 | $13,205,192 |
Scholarships For Kids Inc Birmingham, AL | $21,791,162 | $14,541,038 |
Apogee Georgia School Choice Scholarship Fund Atlanta, GA | $21,549,156 | $14,581,744 |
Special Operations Warrior Foundation Tampa, FL | $175,400,415 | $16,396,122 |
Inspire Brands Foundation Inc Atlanta, GA | $11,528,068 | $11,993,911 |
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 |