Foundation For A College Education
- Assets
- $1.7m
- Revenue
- $1.5m
- Investments
- $0.0
- Employees
- 19
- Location
- East Palo Alto, CA
- Founding
- 09/1995
- Data as of
- 06/2022
- EIN
- 77-0401635
Organization Overview
Foundation For A College Education is located in East Palo Alto, CA. The organization was established in 1995. According to its NTEE Classification (B90) the organization is classified as: Educational Services, under the broad grouping of Education and related organizations. As of 06/2022, Foundation For A College Education employed 19 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Foundation For A College Education 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, Foundation For A College Education 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 5.9% each year. All expenses for the organization totaled $1.3m during the year ending 06/2022. While expenses have increased by 3.1% 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 ENABLE LOW INCOME STUDENTS OF COLOR FROM EAST PALO ALTO AND SURROUNDING COMMUNITIES TO SUCCESSFULLY ENTER AND GRADUATE FROM COLLEGE.
Describe the Organization's Program Activity:
Part 3 - Line 4a
COLLEGE BOUND PROGRAMBELIEVING THAT HIGH EXPECTATIONS LEAD TO HIGH ACHIEVEMENT, FCE HAS DEVELOPED A PROGRAM THAT ENCOURAGES LOW-INCOME STUDENTS TO PURSUE ADVANCED ACADEMIC WORK, SO THEY ARE PREPARED TO SUCCEED IN COLLEGE. UNDER THE COLLEGE BOUND PROGRAM, STUDENTS RECEIVE TUTORING, LEADERSHIP DEVELOPMENT, COLLEGE PLANNING AND COUNSELING, PLUS FINANCIAL AID, AND SCHOLARSHIP APPLICATION GUIDANCE. ONE HUNDRED PERCENT OF FCE'S STUDENTS GRADUATE FROM HIGH SCHOOL AND ENROLL IN POST-SECONDARY INSTITUTIONS. EIGHTY-EIGHT PERCENT OF THEM COMPLETE COLLEGE WITHIN SIX YEARS. FCE HELPS STUDENTS DEVELOP THE ACADEMIC SKILLS AND SELF-CONFIDENCE TO SUCCEED IN COLLEGE AND BEYOND.
COLLEGE SUCCESS PROGRAMRECOGNIZING THAT GETTING STUDENTS INTO COLLEGE IS ONLY THE FIRST STEP, FCE CONTINUES TO SUPPORT THEM THROUGH COLLEGE TO ENSURE THAT THEY GRADUATE WITH A BACHELOR'S DEGREE OR HIGHER. THE COLLEGE SUCCESS PROGRAM PROVIDES STUDENTS WITH MENTORING, SUMMER INTERNSHIP OPPORTUNITIES, CAREER COUNSELING AND LEADERSHIP DEVELOPMENT WORKSHOPS TO ENSURE THAT THEY COMPLETE THEIR UNDERGRADUATE EDUCATION.
COLLEGE SCHOLARSHIP PROGRAMTHE COLLEGE SCHOLARSHIP PROGRAM OFFERS COMPETITIVE SCHOLARSHIPS TO HELP OFFSET THE COSTS ASSOCIATED WITH FUNDING A COLLEGE EDUCATION. SCHOLARSHIPS, WHICH ARE FUNDED BY INDIVIDUAL AND FOUNDATION DONORS, PLAY A KEY ROLE IN ENSURING THAT LOW-INCOME STUDENTS COMPLETE COLLEGE WITHIN SIX YEARS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Maria Crummet Executive Dir. | Officer | 40 | $144,000 |
Michael Mcfarland Dir. Of Developmen | 40 | $94,211 | |
Leila Jere Chairperson | OfficerTrustee | 4 | $0 |
Paul G Resnick Treasurer | OfficerTrustee | 4 | $0 |
Tait Wade Secretary | OfficerTrustee | 4 | $0 |
Janice Brody Board Member | Trustee | 2 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $169,541 |
| Related organizations | $0 |
| Government grants | $414,464 |
| All other contributions, gifts, grants, and similar amounts not included above | $876,433 |
| Noncash contributions included in lines 1a–1f | $400 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $1,460,438 |
| Total Program Service Revenue | $0 |
| Investment income | $16,707 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | $5,871 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $1,483,171 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $127,735 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $217,840 |
| Compensation of current officers, directors, key employees. | $32,676 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $520,908 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $34,180 |
| Payroll taxes | $57,966 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $6,572 |
| Fees for services: Accounting | $24,850 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $170,015 |
| Advertising and promotion | $965 |
| Office expenses | $37,783 |
| Information technology | $18,173 |
| Royalties | $0 |
| Occupancy | $67,487 |
| Travel | $4,084 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $4,868 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $788 |
| Insurance | $11,002 |
| All other expenses | $0 |
| Total functional expenses | $1,309,183 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $405,702 |
| Savings and temporary cash investments | $373,913 |
| Pledges and grants receivable | $275,669 |
| 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 | $17,770 |
| Net Land, buildings, and equipment | $1,363 |
| Investments—publicly traded securities | $665,686 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $1,740,103 |
| Accounts payable and accrued expenses | $80,161 |
| Grants payable | $158,250 |
| 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 | $238,411 |
| Net assets without donor restrictions | $1,439,566 |
| Net assets with donor restrictions | $62,126 |
| 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 | $1,740,103 |