Foundation For New Education Initiatives Inc
- Assets
- $6.1m
- Revenue
- $5.7m
- Investments
- $0.0
- Employees
- 0
- Location
- Miami, FL
- Founding
- 12/2008
- Data as of
- 06/2021
- EIN
- 61-1566768
Organization Overview
Foundation For New Education Initiatives Inc is located in Miami, FL. The organization was established in 2008. 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. Foundation For New Education Initiatives 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 06/2021, Foundation For New Education Initiatives Inc generated $5.7m in total revenue. This represents relatively stable growth, over the past 6 years the organization has increased revenue by an average of 8.9% each year. All expenses for the organization totaled $4.0m during the year ending 06/2021. 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
2021
Describe the Organization's Mission:
Part 3 - Line 1
ENHANCE STUDENT ACHIEVEMENT AND COMMUNITY ENGAGEMENT IN SUPPORT OF EDUCATIONAL INITIATIVES OF MIAMI- DADE COUNTY PUBLIC SCHOOLS.
Describe the Organization's Program Activity:
Part 3 - Line 4a
FNEI AND M-DCPS SUPPORTED THE 2020 SYIP FOR A FIFTH CONSECUTIVE YEAR. WITH THE SUPPORT OF THE COUNTY, THE CHILDREN'S TRUST, AND CAREER SOURCE, FUNDING IN THE AMOUNT OF $2.5 MILLION WAS RECEIVED TO SUPPORT 1,485 STUDENT INTERNSHIPS. SEE SCHEDULE O
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Ann DE Las Pozas Executive Director | Officer | 40 | $135,226 |
Alberto M Carvalho Chair | OfficerTrustee | 2 | $0 |
Alan Fein Treasurer | OfficerTrustee | 2 | $0 |
Carlos Curbelo Designee Vice Chair | OfficerTrustee | 2 | $0 |
Julie Williamson Secretary | OfficerTrustee | 2 | $0 |
Natacha Bastian Director | Trustee | 2 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $2,260,160 |
| All other contributions, gifts, grants, and similar amounts not included above | $3,436,309 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $5,696,469 |
| Total Program Service Revenue | $0 |
| Investment income | $2,489 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | $10,298 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $5,709,256 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $3,647,609 |
| Grants and other assistance to domestic individuals. | $108,713 |
| 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 | $157,347 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $11,725 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $24,992 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $15,720 |
| Office expenses | $30,979 |
| Information technology | $29,395 |
| 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 | -$39 |
| Total functional expenses | $4,026,441 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $6,049,499 |
| Pledges and grants receivable | $2,776 |
| 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 | $11,500 |
| 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 | $6,063,775 |
| Accounts payable and accrued expenses | $0 |
| Grants payable | $0 |
| Deferred revenue | $1,875,000 |
| 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 | $1,875,000 |
| Net assets without donor restrictions | $397,965 |
| Net assets with donor restrictions | $3,790,810 |
| 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 | $6,063,775 |
Grants Awarded
Over the last fiscal year, Foundation For New Education Initiatives Inc has awarded $1,457,081 in support to 3 organizations.
| Grant Recipient | Amount |
|---|---|
MIAMI-DADE COUNTY PUBLIC SCHOOLS PURPOSE: IMPROVE EDUCATION | $808,528 |
MIAMI-DADE COUNTY PUBLIC SCHOOLS PURPOSE: IMPROVE EDUCATION | $561,956 |
MIAMI-DADE COUNTY PUBLIC SCHOOLS PURPOSE: IMPROVE EDUCATION | $86,597 |
Grants Recieved
Over the last fiscal year, we have identified 18 grants that Foundation For New Education Initiatives Inc has recieved totaling $581,945.
| Awarding Organization | Amount |
|---|---|
Global Village Charitable Tr Coral Gables, FL PURPOSE: GENERAL OPERATION | $150,000 |
South Florida Sports Foundation Inc Miami Gardens, FL PURPOSE: SOCIAL JUSTICE DONATION | $100,000 |
Undies For Everyone Houston, TX PURPOSE: To provide underserved children with new underwear | $50,041 |
The Batchelor Foundation Inc Miami Beach, FL PURPOSE: GENERAL OPERATIONS | $50,000 |
Himan Brown Charitable Tr New York, NY PURPOSE: EDUCATIONAL | $50,000 |
The Miami Foundation Inc Miami, FL PURPOSE: PROGRAM SUPPORT | $47,804 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Miami Dade College Foundation Inc Miami, FL | $203,072,980 | $26,102,618 |
Oxbridge Academy Foundation Inc West Palm Beach, FL | $65,288,192 | $19,905,008 |
University Of West Florida Foundation Inc Pensacola, FL | $164,565,433 | $23,515,652 |
Gator Boosters Inc Gainesville, FL | $35,445,358 | $17,089,938 |
The University Of North Florida Foundation Inc Jacksonville, FL | $189,463,504 | $37,925,600 |
Usf Health Professions Conferencing Corporation Tampa, FL | $17,834,474 | $17,025,476 |
Florida Agricultural & Mechanical Univ Foundation Inc Tallahassee, FL | $165,576,820 | $45,594,915 |
Jessie Ball Dupont Religious Charitable & Educational Fund Jacksonville, FL | $0 | $23,306,581 |
Avant Garde Academy Foundation Inc Hollywood, FL | $46,079,616 | $17,259,977 |
Florida State University Research Foundation Inc Tallahassee, FL | $238,210,385 | $28,107,542 |
Georgia Tech Facilities Inc Atlanta, GA | $407,064,936 | $14,504,049 |
Fsu Financial Assistance Inc Tallahassee, FL | $147,384,832 | $12,995,500 |