Penasco Valley Telephone Education Foundation
- Assets
- $380.5k
- Revenue
- $7.7k
- Investments
- $0.0
- Employees
- 0
- Location
- Artesia, NM
- Founding
- 12/1994
- Data as of
- 12/2023
- EIN
- 85-0422272
Organization Overview
Penasco Valley Telephone Education Foundation is located in Artesia, NM. The organization was established in 1994. According to its NTEE Classification (B11) the organization is classified as: Single Organization Support, 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. Penasco Valley Telephone 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 12/2023, Penasco Valley Telephone Education Foundation generated $7.7k in total revenue. This represents relatively stable growth, over the past 5 years the organization has increased revenue by an average of 2.8% each year. All expenses for the organization totaled $36.0k during the year ending 12/2023. While expenses have increased by 5.6% per year over the past 5 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.
Since 2019, Penasco Valley Telephone Education Foundation has awarded 188 individual grants totaling $154,700. If you would like to learn more about the grant giving history of this organization, scroll down to the grant profile section of this page.
Form
990PF
Mission & Program ActivityExcerpts From the 990PF Filing
TAX YEAR
2023
Describe the Organization's Program Activity:
Part 3 - Line 4a
SCHOLARSHIPS - THE FOUNDATION AWARDED 11 NEW SCHOLARSHIPS IN THE AMOUNT OF $500 PER SEMESTER TO QUALIFIED APPLICANTS WHO RESIDE IN THE EXCHANGE AREA OF PENASCO VALLEY TELEPHONE COOPERATIVE AND WHO ARE ACTIVE MEMBERS OF THE COOPERATIVE OR WHO ARE DEPENDENTS OF AN ACTIVE MEMBER OF THE COOPERATIVE. THE SCHOLARSHIPS OF PRIOR RECIPIENTS ARE RENEWED EACH SEMESTER FOR THE EQUIVALENT OF FOUR YEARS OF EDUCATION FOR AS LONG AS ENROLLMENT AND A MINIMUM GPA OF 2.5 IS MAINTAINED. DURING 2020 THE FOUNDATION PAID SCHOLARSHIP MONEY TO 26 STUDENTS WHO WERE AWARDED THEIR SCHOLARSHIP IN A PRIOR YEAR.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Dwight Menefee President | 1 | $0 | |
Mark Kincaid Vice-President | 1 | $0 | |
Carol Guiterrez Secretary | 1 | $0 | |
Stetson Elkins Treasurer | 1 | $0 | |
Mike Casabonne Director | 1 | $0 | |
Roxann Sallee Director | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $643 |
| Interest on Savings | $7,074 |
| Dividends & Interest | $0 |
| Net Rental Income | $0 |
| Net Gain on Sale of Assets | $0 |
| Capital Gain Net Income | $0 |
| Net ST Capital Gain | $0 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $0 |
| Other Income | $0 |
| Total Revenue | $7,717 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $0 |
| Other employee salaries and wages | $0 |
| Pension plans, employee benefits | $0 |
| Interest | $0 |
| Taxes | $27 |
| Depreciation | $0 |
| Occupancy | $0 |
| Travel, conferences, and meetings | $0 |
| Printing and publications | $0 |
| Other expenses | $0 |
| Total operating and administrative expenses | $27 |
| Contributions, gifts, grants paid | $36,000 |
| Total expenses and disbursements | $36,027 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | -$459 |
| Savings and temporary cash investments | $380,993 |
| Net Accounts receivable | $0 |
| Net Pledges Receivable | $0 |
| Grants receivable | $0 |
| Receivables from Officers, Directors, or Controlling Persons | $0 |
| Net other notes and loans receivable | $0 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $0 |
| Net Investments - land, buildings, equipment | $0 |
| Investments—mortgage loans | $0 |
| Investments—other | $0 |
| Net Land, buildings, and equipment | $0 |
| Other assets | $0 |
| Total assets | $380,534 |
| Accounts payable and accrued expenses | $1,100 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Mortgages and other notes payable | $0 |
| Other liabilities | $0 |
| Total liabilities | $1,100 |
Grants Awarded
Over the last fiscal year, Penasco Valley Telephone Education Foundation has awarded $36,000 in support to 35 organizations.
| Grant Recipient | Amount |
|---|---|
ALYSSA BAEZA-LIEB PURPOSE: SCHOLARSHIP | $1,000 |
AMANDA HIBBARD PURPOSE: SCHOLARSHIP | $1,600 |
ANGELA MONTGOMERY PURPOSE: SCHOLARSHIP | $800 |
AUTUMN NAILON PURPOSE: SCHOLARSHIP | $800 |
AUTUMN WORTLEY PURPOSE: SCHOLARSHIP | $1,000 |
CALLIE BENNETT PURPOSE: SCHOLARSHIP | $1,300 |