Mckinney Education Foundation
- Assets
- $11.9m
- Revenue
- $1.5m
- Investments
- $0.0
- Employees
- 7
- Location
- Mckinney, TX
- Founding
- 03/1994
- Data as of
- 06/2022
- EIN
- 75-2401624
Organization Overview
Mckinney Education Foundation is located in Mckinney, TX. The organization was established in 1994. According to its NTEE Classification (B82) the organization is classified as: Scholarships & Student Financial Aid, under the broad grouping of Education and related organizations. As of 06/2022, Mckinney Education Foundation employed 7 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Mckinney 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 06/2022, Mckinney Education Foundation generated $1.5m in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 6.0% each year. All expenses for the organization totaled $1.4m during the year ending 06/2022. While expenses have increased by 5.3% 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 INSPIRE AND ASSIST MCKINNEY ISD STUDENTS AND TEACHERS TOWARD EXCELLENCE AND MAKE A DIFFERENCE IN A CHILD'S LIFE THROUGH EDUCATION.
Describe the Organization's Program Activity:
Part 3 - Line 4a
SCHOLARSHIPS AWARDED: THIS PROGRAM ASSISTS STUDENTS IN ATTENDING POST-SECONDARY PROGRAMS AT HIGHER EDUCATION INSTITUTIONS. IN 2021-2022, $585,050 IN SCHOLARSHIPS WAS AWARDED. CLASSROOM AND PROFESSIONAL DEVELOPMENT GRANTS: THE MCKINNEY ISD AND MCKINNEY COMMUNITY SUPPORT THIS PROGRAM. $115,000 TOTAL WAS FUNDED FOR OR TEACHERS IN 2021-2022. COLLEGE ADVISOR PROGRAM DREAM BUILDER DONORS SUPPORT THIS PROGRAM. THE COLLEGE ADVISORS ARE PLACED ON THE THREE MCKINNEY HIGH SCHOOLS FULL-TIME TO ASSIST STUDENTS AND FAMILIES WITH NAVIGATING THE COLLEGE AND FINANCIAL AID PROCESS. THEY HELPED STUDENTS FIND AND SECURE MORE THAN $24,919,402 MILLION IN OUTSIDE SCHOLARSHIPS IN 2021-2022. THESE OUTSIDE SCHOLARSHIPS DO NOT INCLUDE MEF SCHOLARSHIPS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Ashley Sine Executive Dir. | Officer | 40 | $91,688 |
Carolyn Brooks Director | Trustee | 2 | $0 |
Kami Irvin Director | Trustee | 2 | $0 |
Joe Ellenburg Director | Trustee | 2 | $0 |
Amy Dankel Director | Trustee | 2 | $0 |
Kathryn Lewis Director | Trustee | 2 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $519,523 |
| Related organizations | $0 |
| Government grants | $75,600 |
| All other contributions, gifts, grants, and similar amounts not included above | $833,129 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $1,428,252 |
| Total Program Service Revenue | $0 |
| Investment income | $182,105 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | -$109,891 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $1,500,466 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $771,544 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $94,439 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $284,518 |
| Pension plan accruals and contributions | $4,890 |
| Other employee benefits | $21,929 |
| Payroll taxes | $28,591 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $31,790 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $68,561 |
| Fees for services: Other | $31,810 |
| Advertising and promotion | $3,190 |
| Office expenses | $4,705 |
| Information technology | $3,300 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $2,134 |
| 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 | $1,457 |
| Insurance | $3,837 |
| All other expenses | $3,135 |
| Total functional expenses | $1,379,548 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $818,481 |
| Savings and temporary cash investments | $17,848 |
| Pledges and grants receivable | $87,545 |
| Accounts receivable, net | $41,213 |
| 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 | $10,901,104 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $11,866,191 |
| Accounts payable and accrued expenses | $623,307 |
| Grants payable | $25,314 |
| 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 | $813,225 |
| Total liabilities | $1,461,846 |
| Net assets without donor restrictions | $791,037 |
| Net assets with donor restrictions | $9,613,308 |
| 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 | $11,866,191 |