Foundation For New Education Initiatives Inc
- Assets
- $5.0m
- Revenue
- $4.0m
- Investments
- $0.0
- Employees
- 2
- Location
- Miami, FL
- Founding
- 12/2008
- Data as of
- 06/2023
- 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. As of 06/2023, Foundation For New Education Initiatives Inc employed 2 individuals. 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 06/2023, Foundation For New Education Initiatives Inc generated $4.0m in total revenue. This represents relatively stable growth, over the past 8 years the organization has increased revenue by an average of 2.1% each year. All expenses for the organization totaled $4.4m during the year ending 06/2023. 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
2023
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
SUMMER YOUTH INTERNSHIP PROGRAM: THE PROGRAM INTENDS TO ENROLL OVER 3000 AT-RISK YOUTH AGES 15-18 IN INTERNSHIPS. THE PROGRAM SEEKS TO PROVIDE DIVERSE INTERNSHIP PLACEMENT OPPORTUNITIES THROUGH THE RECRUITMENT OF A WIDE ARRAY OF EMPLOYERS THROUGHOUT MIAMI-DADE COUNTY. STUDENT PARTICIPANTS RECEIVE 2 STIPENDS TOTALING $1,500.00 AND MUST REPORT TO THEIR INTERNSHIP ASSIGNMENT 30 HOURS PER WEEK FOR FIVE (5) WEEKS. THEY ALSO WILL EARN HIGH SCHOOL COURSE CREDITS AND AN OPPORTUNITY TO EARN COLLEGE CREDITS. CULTURAL PASSPORT: AN EDUCATIONAL INITIATIVE, IN PARTNERSHIP WITH MIAMI-DADE'S VARIOUS ARTS AND CULTURAL INSTITUTIONS, TO PROVIDE ALL K-12 STUDENTS WITH A DIFFERENT AGE-APPROPRIATE CULTURAL EXPERIENCE EACH SCHOOL YEAR. OVER 135,000 STUDENTS SERVED IN 2022-23. ESTIMATED COST: $150,000. MINI-GRANTS FOR TEACHERS AND CLASSROOMS: AN ANNUAL MINI-GRANT COMPETITION FOR TEACHERS TO IMPLEMENT INNOVATIVE EDUCATIONAL ACTIVITIES THAT FOSTER ACADEMIC ACHIEVEMENT. GRANTS AWARDED TO TWO TEACHERS IN EACH OF THE THREE DISTRICT REGIONS. ESTIMATED COST: $30,000.THE PARENT ACADEMY: A YEAR-ROUND INITIATIVE PROVIDING FREE CLASSES AND WORKSHOPS FOR PARENTS AT MORE THAN 200 SITES THROUGHOUT THE COUNTY.STUDENT SCHOLARSHIPS: THROUGH SEVERAL SCHOLARSHIP FUNDS, INCLUDING BUT NOT LIMITED TO, THE POSSE FOUNDATION, THE COLLEGE ASSISTANCE PROGRAM, AND FRANCIS METCALFE, DESERVING STUDENTS RECEIVE COLLEGE SCHOLARSHIPS. OVER 50 STUDENTS BENEFITED DIRECTLY FROM STUDENT SCHOLARSHIPSOUTREACH AND AID TO NEEDY FAMILIES, NEEDY SCHOOLS, AND PROJECT UP-START: REFERRALS, FUNDS, AND OTHER TYPES OF AID FOR NEEDY STUDENTS AND THEIR FAMILIES IN CRISIS THROUGH PROGRAMS SUCH AS THE SHOP, COLLEGE SUITCASES, SENIOR ACTIVITIES, COMMUNITY HUBS, AND THE EXPANSION OF MY MARKETPLACE SITES. OVER 10,000 STUDENTS IDENTIFY AS HOMELESS AND ARE DIRECTLY BENEFITED FROM THIS PROGRAM.STEAM, ROBOTICS, AND SCHOOLS SUPPORT: PARTICIPATING SCHOOLS THAT HAVE EARNED THE STEAM DESIGNATION MAY BE CONSIDERED TO RECEIVE A STEAM LAB. ADDITIONALLY, FNEI PROVIDES ROBOTICS AND OTHER EQUIPMENT TO SCHOOLS. ESTIMATED COST: $200,000.
THE FOUNDATION PARTICIPATES IN MANY PROGRAMS THROUGH OUT THE YEAR. THESE PROGRAMS HAVE SEVERAL DIFFERENT FUNDING SOURCES.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Carlos Curbelo Vice Chair | OfficerTrustee | 2 | $0 |
Jose L Dotres Chair | OfficerTrustee | 2 | $0 |
Maria Norton Director | Trustee | 2 | $0 |
Matthew Anderson Director | Trustee | 2 | $0 |
Alan H Fein Treasurer | OfficerTrustee | 2 | $0 |
Celia DE La Llama Director | Trustee | 2 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $52,905 |
| Related organizations | $0 |
| Government grants | $3,114,855 |
| All other contributions, gifts, grants, and similar amounts not included above | $542,117 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $3,709,877 |
| Total Program Service Revenue | $0 |
| Investment income | $9,938 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | $300,671 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $4,020,486 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $3,975,769 |
| Grants and other assistance to domestic individuals. | $71,857 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $147,991 |
| Compensation of current officers, directors, key employees. | $55,748 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $23,097 |
| Pension plan accruals and contributions | $13,595 |
| Other employee benefits | $0 |
| Payroll taxes | $14,076 |
| 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 | $45,136 |
| Advertising and promotion | $35,552 |
| Office expenses | $4,624 |
| Information technology | $2,691 |
| 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 | $2,444 |
| All other expenses | $0 |
| Total functional expenses | $4,415,360 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $4,948,665 |
| Pledges and grants receivable | $22,890 |
| 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 | $4,971,555 |
| Accounts payable and accrued expenses | $122,245 |
| Grants payable | $0 |
| Deferred revenue | $3,072,103 |
| 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 | $3,194,348 |
| Net assets without donor restrictions | $481,965 |
| Net assets with donor restrictions | $1,295,242 |
| 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 | $4,971,555 |
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 | $561,956 |
MIAMI-DADE COUNTY PUBLIC SCHOOLS PURPOSE: IMPROVE EDUCATION | $86,597 |
MIAMI-DADE COUNTY PUBLIC SCHOOLS PURPOSE: IMPROVE EDUCATION | $808,528 |