Jack & Katherine Pearce Educational Foundation
- Assets
- $3.4m
- Revenue
- $356.9k
- Investments
- $3.1m
- Employees
- 0
- Location
- Galveston, TX
- Founding
- 06/1950
- Data as of
- 12/2021
- EIN
- 74-6035546
Organization Overview
Jack & Katherine Pearce Educational Foundation is located in Galveston, TX. The organization was established in 1950. 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. Jack & Katherine Pearce Educational 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 12/2021, Jack & Katherine Pearce Educational Foundation generated $356.9k in total revenue. This organization has experienced exceptional growth, as over the past 5 years, it has increased revenue by an average of 17.3% each year . All expenses for the organization totaled $150.3k during the year ending 12/2021. You can explore the organizations financials more deeply in the financial statements section below.
Form
990PF
Mission & Program ActivityExcerpts From the 990PF Filing
TAX YEAR
2021
Describe the Organization's Program Activity:
Part 3 - Line 4a
PROVIDING INTEREST FREE LOANS TO QUALIFIED RESIDENTS OF GALVESTON, TEXAS, WHO ENROLL AS FULL-TIME STUDENTS AT AN INSTITUTION OF HIGHER LEARNING IN THE U.S.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Name Not Listed Trustee | 4 | $64,238 | |
Reverend Jimmy Abbott Director | 0.16 | $0 | |
Richard Mann Director | 0.16 | $0 | |
Maureen Mccutchen Director | 0.16 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $0 |
| Interest on Savings | $17 |
| Dividends & Interest | $79,690 |
| Net Rental Income | $0 |
| Net Gain on Sale of Assets | $277,165 |
| Capital Gain Net Income | $275,771 |
| Net ST Capital Gain | $0 |
| Income Modifications | $140,294 |
| Profit on Inventory Sales | $0 |
| Other Income | $67 |
| Total Revenue | $356,939 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $64,238 |
| Other employee salaries and wages | $0 |
| Pension plans, employee benefits | $0 |
| Interest | $0 |
| Taxes | $1,980 |
| Depreciation | $0 |
| Occupancy | $0 |
| Travel, conferences, and meetings | $0 |
| Printing and publications | $0 |
| Other expenses | $808 |
| Total operating and administrative expenses | $70,276 |
| Contributions, gifts, grants paid | $80,000 |
| Total expenses and disbursements | $150,276 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $1,454 |
| Savings and temporary cash investments | $351,529 |
| Net Accounts receivable | $0 |
| Net Pledges Receivable | $0 |
| Grants receivable | $0 |
| Receivables from Officers, Directors, or Controlling Persons | $0 |
| Net other notes and loans receivable | $0 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $110 |
| Net Investments - land, buildings, equipment | $0 |
| Investments—mortgage loans | $0 |
| Investments—other | $3,082,662 |
| Net Land, buildings, and equipment | $0 |
| Other assets | $1,825 |
| Total assets | $3,437,580 |
| Accounts payable and accrued expenses | $0 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Mortgages and other notes payable | $0 |
| Other liabilities | $0 |
| Total liabilities | $0 |
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University Of Texas Foundation Austin, TX | $88,879,484 | $47,692,096 |
L S U Foundation Baton Rouge, LA | $804,249,383 | $72,730,367 |
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University Of Arkansas Fayetteville Campus Foundation Inc Fayetteville, AR | $748,157,500 | $15,686,060 |
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