Lincoln Foundation For Education Inc
- Assets
- $269.2k
- Revenue
- $170.2k
- Investments
- $0.0
- Employees
- 0
- Location
- Parsippany, NJ
- Founding
- 01/2017
- Data as of
- 12/2022
- EIN
- 81-3796890
Organization Overview
Lincoln Foundation For Education Inc is located in Parsippany, NJ. The organization was established in 2017. 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. Lincoln Foundation For Education Inc 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 12/2022, Lincoln Foundation For Education Inc generated $170.2k in total revenue. This organization has experienced exceptional growth, as over the past 3 years, it has increased revenue by an average of 23.3% each year . All expenses for the organization totaled $146.7k during the year ending 12/2022. While expenses have increased by 24.4% per year over the past 3 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 PROVIDE FINANCIAL AID AND ASSISTANCE, DONATIONS, AND GIFTS OF MONEY, PROPERTY, OR GRANTS TO QUALIFIED INDIVIDUALS PURSUING POST-SECONDARY EDUCATION WITH SPECIFIC CAREER OBJECTIVES OF TECHNICAL OR VOCATIONAL EDUCATION AT LINCOLN TECHNICAL INSTITUTE AND SIMILAR INSTITUTIONS.
Describe the Organization's Program Activity:
Part 3 - Line 4a
THIS SCHOLARSHIP WAS ESTABLISHED WITH GENEROUS SUPPORT FROM THE MAGNUS CHARITABLE TRUST & REBEL VOICES, TO RECOGNIZE STUDENTS TRAINING AT THE LINCOLN COLLEGE OF TECHNOLOGY MELROSE PARK, WHO HAVE ACHIEVED EXEMPLARY ACADEMIC RESULTS AND DEMONSTRATED A COMMITMENT TO THEIR EDUCATION AND CAREER ASPIRATIONS. REBEL VOICES HAS PARTNERED WITH THE FOUNDATION TO FULFILL ITS MISSION TO CREATE AND ELIMINATE BARRIERS BY PROVIDING FINANCIAL ASSISTANCE, EDUCATIONAL RESOURCES, AND MENTORSHIP TO UNDERSERVED YOUNG ADULTS FROM CHICAGO'S SOUTH AND WEST SIDE NEIGHBORHOODS.
THE GENE HAAS - CNC PROGRAM. THE GENE HAAS MANUFACTURING SCHOLARSHIP PROGRAM DISTRIBUTED SCHOLARSHIPS TO STUDENTS PURSUING TRAINING FOR A CAREER IN CNC MANUFACTURING.
GRANT OF $21,728 FROM TECHSOURCE TOOLS, INC. ALLOCATED TO SUPPORT SCHOLARSHIPS FOR WOMEN PURSUING OPPORTUNITIES IN STEM. ADDITIONAL GRANTS IN THE TOTAL OF 14,965.80 AWARDED AS SCHOLARSHIPS FOR STUDENTS PURSUING EDUCATION IN THE AUTOMOTIVE TRADES.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Sheri Leach Trustee And President | OfficerTrustee | 2 | $0 |
Marty Mcgill Trustee | Trustee | 0 | $0 |
Neil Mcgill Trustee, Vice President, And Treasurer | OfficerTrustee | 0 | $0 |
Mark Mickens Trustee | Trustee | 0 | $0 |
Brian Hughes Trustee | Trustee | 0 | $0 |
Katy Scafide Secretary | Officer | 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 | $170,152 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $170,152 |
| Total Program Service Revenue | $0 |
| Investment income | $27 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $170,179 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $146,690 |
| 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 | $0 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $0 |
| Office expenses | $0 |
| 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 | $0 |
| Total functional expenses | $146,690 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $269,203 |
| Savings and temporary cash investments | $0 |
| 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 | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $269,203 |
| Accounts payable and accrued expenses | $0 |
| Grants payable | $0 |
| 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 | $0 |
| Net assets without donor restrictions | $0 |
| 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 | $269,203 |
| Total liabilities and net assets/fund balances | $269,203 |