Council On Regional Economic Expansion & Educational Dev Founda
- Assets
- $3.7m
- Revenue
- $872.0k
- Investments
- $0.0
- Employees
- 0
- Location
- El Paso, TX
- Founding
- 08/2017
- Data as of
- 12/2022
- EIN
- 81-4516730
Organization Overview
Council On Regional Economic Expansion & Educational Dev Founda is located in El Paso, TX. The organization was established in 2017. According to its NTEE Classification (B12) the organization is classified as: Fund Raising & Fund Distribution, 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. Council On Regional Economic Expansion & Educational Dev Founda 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, Council On Regional Economic Expansion & Educational Dev Founda generated $872.0k in total revenue. This represents a relatively dramatic decline in revenue. Over the past 6 years, the organization has seen revenues fall by an average of (29.0%) each year. All expenses for the organization totaled $2.7m during the year ending 12/2022. 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
LEAD EFFORTS TO IDENTIFY AND SUPPORT INITIATIVES THAT IMPROVE COLLEGE READINESS AND ENSURE MORE STUDENTS GRADUATE WITH A COLLEGE DEGREE OR CERTIFICATION. PARTNER WITH EDUCATION LEADERS, FUNDERS, AND REGIONAL, STATE, AND NATIONAL ORGANIZATIONS TO DEVELOP THE NEXT GENERATION EDUCATIONAL SYSTEM FOR EL PASO.
Describe the Organization's Program Activity:
Part 3 - Line 4a
PROVIDE INITIAL STARTUP COSTS AND EXPENSES ASSOCIATED WITH THE EXPANSION OF THE IDEA PUBLIC SCHOOLS SYSTEM IN EL PASO, TX, AIDING IN FORMATION, RECRUITMENT OF TEACHERS, AND AFFILIATED ORGANIZING EXPENSES. 2017 GRANT IN THE AMOUNT OF $6,812,400 WILL BE PAID OUT OVER SEVEN YEARS, POTENTIALLY AIDING IN OPENING 20 SCHOOLS WITH PROJECTED ENFORLLMENT OF 14,000 STUDENTS BY 2023. THE TOTAL PAID THROUGH 2022 IS $3,836,837. GRANTED VELA FUND $300,000 IN SUPPORT OF MICRO SCHOOL SYSTEMS OF EDUCATION IN EL PASO, TX, FOCUSING ON UNCONVENTIONAL EDUCATION. PAID $375,000 OF $2.25 GRANT TO HARMONY PUBLIC SCHOOLS FOR EXPANSION IN EL PASO. PROVIDED $172,046 IN SUPPORT OF PARENT ENGAGEMENT/KNOWLEDGE INITIATIVES.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Eduardo Rodriguez Exec Dir/sec/tr | OfficerTrustee | 10 | $0 |
Manuel Soto Jr Director | Trustee | 8 | $0 |
Amy O'rourke Res 6-22 Director | Trustee | 8 | $0 |
Richard Castro Chairman | OfficerTrustee | 6 | $0 |
Woody Hunt Vice-Chair | OfficerTrustee | 6 | $0 |
Joe Cardenas Director | Trustee | 6 | $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 | $872,000 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $872,000 |
| Total Program Service Revenue | $0 |
| Investment income | $0 |
| 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 | $872,000 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $2,722,046 |
| Grants and other assistance to domestic individuals. | $0 |
| 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 | $105 |
| 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 | $2,722,151 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $1,007,210 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $2,689,588 |
| 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 | $3,696,798 |
| Accounts payable and accrued expenses | $0 |
| Grants payable | $4,850,563 |
| 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 | $4,850,563 |
| Net assets without donor restrictions | -$1,153,765 |
| 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 | $3,696,798 |
Grants Awarded
Over the last fiscal year, Council On Regional Economic Expansion & Educational Dev Founda has awarded $839,597 in support to 3 organizations.
| Grant Recipient | Amount |
|---|---|
CREEED PURPOSE: PARENT ENGAGEMENT WORKSHOP | $164,597 |
VELA EDUCATION FUND PURPOSE: HOME SCHOOL/DIRECTED EDUC PROGRAMS | $300,000 |
HARMONY SCIENCE ACADEMY PURPOSE: INCREASE CHARTER PUBLIC SCHOOLS | $375,000 |