Kit Faragher Foundation
- Assets
- $518.3k
- Revenue
- $67.7k
- Investments
- $0.0
- Employees
- 0
- Location
- Denver, CO
- Founding
- 09/2004
- Data as of
- 12/2021
- EIN
- 81-0619100
Organization Overview
Kit Faragher Foundation is located in Denver, CO. The organization was established in 2004. According to its NTEE Classification (B82) the organization is classified as: Scholarships & Student Financial Aid, 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. Kit Faragher 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, Kit Faragher Foundation generated $67.7k in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 1.1% each year. All expenses for the organization totaled $58.7k during the year ending 12/2021. 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
GRANT SCHOLARSHIPS AND EDUCATIONAL ASSISTANCE TO COLORADO STUDENTS IN NEED OF FINANCIAL ASSISTANCE FOR COLLEGE.
Describe the Organization's Program Activity:
Part 3 - Line 4a
IN 2021 SCHOLARSHIPS TOTALING $30,000.00 WERE AWARDED TO STUDENTS SELECTED BY THE SELECTION COMMITTEE AS THE MOST DESERVING APPLICANTS. OF THAT AMOUNT $7,500.00 WAS PAID DURING 2021, AS WELL AS AN ADDITIONAL AMOUNT OF $42,500.00 FOR SCHOLARSHIPS AWARDED IN PRIOR YEARS (FOR A TOTAL PAYMENT IN 2021 OF $50,000.00). ALL AMOUNTS ARE PAID DIRECTLY TO THE COLLEGES SELECTED BY THE RECIPIENTS. SEE ATTACHED SCHEDULE FOR ADDITIONAL DETAIL.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Michael Mccasland Treasurer | OfficerTrustee | 2 | $0 |
Beth Ann Faragher President & CEO | OfficerTrustee | 4 | $0 |
Taylor Halagan Secretary | OfficerTrustee | 2 | $0 |
Mary Faragher Waterman Vice President | OfficerTrustee | 2 | $0 |
William E Faragher Jr Director | Trustee | 2 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $29,946 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $29,946 |
| Total Program Service Revenue | $0 |
| Investment income | $13,381 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $24,387 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $67,714 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $50,000 |
| 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 | $0 |
| 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 | $1,447 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $2,751 |
| Fees for services: Other | $0 |
| Advertising and promotion | $0 |
| Office expenses | $452 |
| Information technology | $0 |
| 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 | $0 |
| All other expenses | $10 |
| Total functional expenses | $58,738 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $66,427 |
| Pledges and grants receivable | $0 |
| 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 | $0 |
| Investments—publicly traded securities | $416,844 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $35,000 |
| Total assets | $518,271 |
| Accounts payable and accrued expenses | $0 |
| Grants payable | $0 |
| Deferred revenue | $89,995 |
| 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 | $35,001 |
| Total liabilities | $124,996 |
| Net assets without donor restrictions | $393,275 |
| Net assets with donor restrictions | $0 |
| 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 | $518,271 |
Grants Recieved
Over the last fiscal year, we have identified 1 grants that Kit Faragher Foundation has recieved totaling $51,231.
| Awarding Organization | Amount |
|---|---|
Montrose Community Foundation Montrose, CO PURPOSE: SCHOLARSHIPS | $51,231 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Indigenous Education Inc Albuquerque, NM | $3,738,546 | $7,442,761 |
Arizona Private Education Scholarship Fund Inc Scottsdale, AZ | $4,340,429 | $7,500,005 |
Western Union Foundation Inc Denver, CO | $4,087,172 | $7,099,166 |
Davis Education Foundation Farmington, UT | $5,085,973 | $8,327,640 |
School Choice Arizona Inc Chandler, AZ | $10,615,298 | $8,926,972 |
New Mexico Student Loan Guarantee Corporation Albuquerque, NM | $15,866,075 | $3,044,592 |
Foundation For Educational Funding Lincoln, NE | $161,530,703 | $9,132,107 |
Western States Learning Corporation Cheyenne, WY | $7,278,085 | $6,097,150 |
Prosperity Denver Fund Denver, CO | $29,340,017 | $14,622,453 |
College Success Arizona Phoenix, AZ | $19,037,884 | $6,349,882 |
Reisher Family Foundation Lakewood, CO | $521,642,537 | $444,544,338 |
Papillion Lavista Schools Foundation Papillion, NE | $9,484,528 | $7,053,869 |