Mckinney Education Foundation
- Assets
- $13.4m
- Revenue
- $1.5m
- Investments
- $0.0
- Employees
- 6
- Location
- Mckinney, TX
- Founding
- 03/1994
- Data as of
- 06/2021
- 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 06/2021, Mckinney Education Foundation employed 6 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 06/2021, Mckinney Education Foundation generated $1.5m in total revenue. This represents relatively stable growth, over the past 6 years the organization has increased revenue by an average of 7.6% each year. All expenses for the organization totaled $1.3m during the year ending 06/2021. While expenses have increased by 4.7% per year over the past 6 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
2021
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 2020-2021, $560,300 IN SCHOLARSHIPS WAS AWARDED. CLASSROOM AND PROFESSIONAL DEVELOPMENT GRANTS: THE MCKINNEY ISD AND MCKINNEY COMMUNITY SUPPORT THIS PROGRAM. $100,911 TOTAL WAS FUNDED FOR OR TEACHERS IN 2020-2021.
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 $21,000,000 MILLION IN OUTSIDE SCHOLARSHIPS IN 2020-2021. 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 | $82,026 |
Kami Irvin Vp-Adminis. | OfficerTrustee | 2 | $0 |
Kathryn Lewis Vp-Education | OfficerTrustee | 2 | $0 |
Donna Loughmiller Secretary | OfficerTrustee | 2 | $0 |
Brian Hazelwood President | OfficerTrustee | 2 | $0 |
Jennifer Potter Imm Past Pres | OfficerTrustee | 2 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $12,128 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $899,373 |
| Noncash contributions included in lines 1a–1f | $253 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $911,501 |
| Total Program Service Revenue | $0 |
| Investment income | $154,350 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $475,444 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $1,541,295 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $741,891 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $90,888 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $265,193 |
| Pension plan accruals and contributions | $6,083 |
| Other employee benefits | $16,667 |
| Payroll taxes | $28,440 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $15,191 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $60,309 |
| Fees for services: Other | $5,797 |
| Advertising and promotion | $8,066 |
| Office expenses | $2,561 |
| Information technology | $2,300 |
| 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 | $3,204 |
| All other expenses | $2,349 |
| Total functional expenses | $1,264,803 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $181,662 |
| Savings and temporary cash investments | $17,848 |
| Pledges and grants receivable | $35,110 |
| 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 | $2,288 |
| Investments—publicly traded securities | $13,194,026 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $13,430,934 |
| Accounts payable and accrued expenses | $5,280 |
| Grants payable | $27,272 |
| 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 | $75,600 |
| Other liabilities | $1,215,504 |
| Total liabilities | $1,323,656 |
| Net assets without donor restrictions | $794,047 |
| Net assets with donor restrictions | $11,313,231 |
| 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 | $13,430,934 |
Grants Recieved
Over the last fiscal year, we have identified 1 grants that Mckinney Education Foundation has recieved totaling $37,500.
| Awarding Organization | Amount |
|---|---|
Radke Family Foundation Mckinney, TX PURPOSE: TO PROMOTE EDUCATION FOR STUDENTS. | $37,500 |
Endowment Analysis
| Beg. Balance | $8,713,383 |
| Earnings | $629,553 |
| Admin Expense | $60,309 |
| Net Contributions | $446,098 |
| Grants | $539,837 |
| Ending Balance | $9,188,888 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
New Mexico Educational Assistance Foundation Albuquerque, NM | $392,805,656 | $19,955,288 |
Greater Texas Foundation Bryan, TX | $0 | $15,972,442 |
Post Oak School Bellaire, TX | $33,296,853 | $15,447,844 |
American Indian Graduate Center Inc Albuquerque, NM | $28,393,677 | $10,605,933 |
Robert G Carr & Nona K Carr Scholarship Foundation San Angelo, TX | $175,014,798 | $4,176,344 |
Abell-Hanger Foundation Midland, TX | $130,201,135 | $12,262,823 |
J F Maddox Foundation Hobbs, NM | $240,372,497 | $15,567,055 |
Indigenous Education Inc Albuquerque, NM | $3,738,546 | $7,442,761 |
Higher Education Servicing Corp In Arlington, TX | $44,544,807 | $11,853,938 |
Brazos Higher Education Service Corporation Inc Waco, TX | $152,724,525 | $12,631,577 |
Smart Bowling Scholarship Funding Corporation Arlington, TX | $97,151,764 | $16,570,188 |
New Mexico Student Loan Guarantee Corporation Albuquerque, NM | $15,866,075 | $3,044,592 |