Indianola Educational Foundation Inc
- Assets
- $7.8m
- Revenue
- $2.7m
- Investments
- $4.7m
- Employees
- 61
- Location
- Indianola, MS
- Founding
- 03/1984
- Data as of
- 06/2022
- EIN
- 64-6025738
Organization Overview
Indianola Educational Foundation Inc is located in Indianola, MS. The organization was established in 1984. According to its NTEE Classification (B24) the organization is classified as: Primary & Elementary Schools, under the broad grouping of Education and related organizations. As of 06/2022, Indianola Educational Foundation Inc employed 61 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Indianola Educational Foundation 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, Indianola Educational Foundation Inc generated $2.7m in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 0.2% each year. All expenses for the organization totaled $3.1m during the year ending 06/2022. While expenses have increased by 3.6% per year over the past 7 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
TO PROVIDE EDUCATIONAL INSTRUCTION AND OTHER RELATED OPPORTUNITIES AND SCHOOL ACTIVITIES FOR GRADES PREKINDERGARTEN THRU 12TH GRADE.
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE ORGANIZATION PROVIDED EDUCATIONAL INSTRUCTION AND OTHER RELATED OPPORTUNITIES AND SCHOOL ACTIVITIES FOR PRE-KINDERGARTEN THRU GRADE 12.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Fredrick Barrier President | OfficerTrustee | $0 | |
Chip Moore Treasurer | OfficerTrustee | $0 | |
Trey Koger Secretary | OfficerTrustee | $0 | |
Charlie Mason Headmaster | Officer | $0 | |
Lake Baird Board Member | Trustee | $0 | |
Rod Veavey Board Member | Trustee | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $327,272 |
| All other contributions, gifts, grants, and similar amounts not included above | $569,491 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $896,763 |
| Total Program Service Revenue | $2,257,077 |
| Investment income | -$452,081 |
| 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 | $2,701,759 |
| 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 | $1,912,079 |
| 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 | $22,080 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $11,227 |
| Office expenses | $342,081 |
| Information technology | $1,686 |
| Royalties | $0 |
| Occupancy | $179,992 |
| Travel | $16,272 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $1,570 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $225,155 |
| Insurance | $69,586 |
| All other expenses | $0 |
| Total functional expenses | $3,071,182 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $962,677 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $209,824 |
| 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 | $31,954 |
| Net Land, buildings, and equipment | $1,732,529 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $4,745,531 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $78,125 |
| Total assets | $7,760,640 |
| Accounts payable and accrued expenses | $76,845 |
| Grants payable | $0 |
| Deferred revenue | $283,741 |
| 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 | $23,605 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $0 |
| Total liabilities | $384,191 |
| Net assets without donor restrictions | $6,543,434 |
| Net assets with donor restrictions | $833,015 |
| 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 | $7,760,640 |
Grants Recieved
Over the last fiscal year, we have identified 1 grants that Indianola Educational Foundation Inc has recieved totaling $25,000.
| Awarding Organization | Amount |
|---|---|
Community Foundation Of Northwest Mississippi Inc Hernando, MS PURPOSE: EDUCATION | $25,000 |
Endowment Analysis
| Beg. Balance | $5,200,112 |
| Earnings | -$452,081 |
| Other Expense | -$100,000 |
| Ending Balance | $4,648,031 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Jackson Academy Inc Jackson, MS | $38,072,523 | $26,664,882 |
Community Academies Of New Orleans Inc New Orleans, LA | $3,607,282 | $19,811,905 |
Randolph School Huntsville, AL | $69,168,210 | $21,425,432 |
Republic Schools Nashville Nashville, TN | $31,048,580 | $24,002,902 |
Christian Academy Of Knoxville Inc Knoxville, TN | $16,374,308 | $19,411,697 |
Cornerstone Academy Inc Morristown, TN | $83,376,022 | $25,507,605 |
Madison-Ridgeland Academy Madison, MS | $29,135,034 | $17,543,993 |
French & Montessori Education Inc New Orleans, LA | $8,632,060 | $13,354,447 |
Jackson Preparatory School Foundation Flowood, MS | $34,520,823 | $13,506,149 |
Oak Hill School Nashville, TN | $26,162,856 | $13,591,282 |
Arise Academy New Orleans, LA | $3,784,290 | $13,860,913 |
Bayside Academy Inc Daphne, AL | $24,736,797 | $13,712,687 |