Knox Education Foundation
- Assets
- $7.3m
- Revenue
- $5.9m
- Investments
- $1.0m
- Employees
- 34
- Location
- Knoxville, TN
- Founding
- 08/2014
- Data as of
- 06/2024
- EIN
- 62-1865303
Organization Overview
Knox Education Foundation is located in Knoxville, TN. The organization was established in 2014. According to its NTEE Classification (B12) the organization is classified as: Fund Raising & Fund Distribution, under the broad grouping of Education and related organizations. As of 06/2024, Knox Education Foundation employed 34 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Knox Education Foundation 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 06/2024, Knox Education Foundation generated $5.9m in total revenue. This organization has experienced exceptional growth, as over the past 8 years, it has increased revenue by an average of 15.0% each year . All expenses for the organization totaled $4.9m during the year ending 06/2024. While expenses have increased by 13.9% 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
2024
Describe the Organization's Mission:
Part 3 - Line 1
TO BE A CATALYST FOR THE TRANSORMATION OF PUBLIC EDUCATION TO ACHIEVE EXCELLENT OUTCOMES FOR ALL STUDENTS
Describe the Organization's Program Activity:
Part 3 - Line 4a
SPECIAL PROJECTS AND SCHOOL IMPROVEMENT INTIATIVES CONTAINS INTATIVES AND PROGRAMS THAT ARE PILOTS TO EVALUATE LONG TERM VIABILITY AND IMPACT. THESE SPECIAL PROJECTS FOCUS ON EDUCATIONAL INITIATIVES, GREEN OUTDOOR SPACE, STRATEGIC CONSULTING, ONE BOOK READ CITY, PLAYSPACE FUND AND RESEARCH, ANALYTICS AND SCHOOL INNOVATION.
AWARDS AND GRANTS CONSISTS OF PROJECTS THAT ARE FUNDED BY RESTRICTED DONATIONS AND GOVERNMENT FUNDING. FOR THE CURRENT YEAR THESE INCLUDE COMMUNITY SCHOOLS, 865 ACADEMIES, KCS PROJECT SUPPORT AND PRIORITY BASED GRANTS.
PROJECT GRAD ASSIST WITH FAMILY & COMMUNITY ENGAGEMENT AND OFFERS ADDITIONAL SUPPORT, INTERVENTIONS, AND RESOURCES TO AUSTIN-EAST AND FULTON HIGH SCHOOLS. A SCHOLARSHIP IS EARNED BY QUALIFYING STUDENTS WHO ENROLL IN ACCREDITED POST-SECONDARY INSTITUTIONS OR TRADE SCHOOL. GRAD PROVIDES ACCESS TO RESOURCES TO INCREASE ON-TIME GRADUATION RATES, POST-SECONDARY ENROLLMENT AND TO REDUCE BARRIERS TO STUDENT SUCCESS. INTENTIONAL FOCUS IS GIVEN TO STUDENTS FROM DISADVANTAGED CIRCUMSTANCES, FROM COMMUNTIES OF CONCENTRATED CHALLENGES, AND THOSE UNDERREPRESENTED IN HIGHER EDUCATION.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Larsen Jay Board Chair | OfficerTrustee | 1 | $0 |
Scott Broyles Vice Chair | OfficerTrustee | 1 | $0 |
Darris Upton Secretary | OfficerTrustee | 1 | $0 |
Carol Carden Treasurer | OfficerTrustee | 1 | $0 |
Randy Boyd Board Member | Trustee | 1 | $0 |
Susan Brown Board Member | Trustee | 1 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Kitamba Services | 6/29/24 | $533,223 |
Pivot School Improvement Leaders Service | 6/29/24 | $136,540 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $164,391 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $2,660,000 |
| All other contributions, gifts, grants, and similar amounts not included above | $2,786,543 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $5,610,934 |
| Total Program Service Revenue | $0 |
| Investment income | $299,338 |
| 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 | $5,911,295 |
| 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. | $179,765 |
| Compensation of current officers, directors, key employees. | $134,824 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $720,540 |
| Pension plan accruals and contributions | $17,358 |
| Other employee benefits | $100,948 |
| Payroll taxes | $63,692 |
| 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 | $130,363 |
| Advertising and promotion | $0 |
| Office expenses | $17,529 |
| Information technology | $76,269 |
| Royalties | $0 |
| Occupancy | $10,950 |
| Travel | $21,220 |
| 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 | $22,996 |
| All other expenses | $3,626 |
| Total functional expenses | $4,917,517 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $697,665 |
| Savings and temporary cash investments | $5,402,610 |
| Pledges and grants receivable | $122,741 |
| 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 | $30,308 |
| Net Land, buildings, and equipment | $0 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $1,049,261 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $12,372 |
| Total assets | $7,314,957 |
| Accounts payable and accrued expenses | $423,986 |
| 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 | $423,986 |
| Net assets without donor restrictions | $4,921,215 |
| Net assets with donor restrictions | $1,969,756 |
| 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 | $7,314,957 |