Leaco Rural Telephone Education Foundation
- Assets
- $7.5k
- Revenue
- $803.0
- Investments
- $0.0
- Employees
- 0
- Location
- Hobbs, NM
- Founding
- 00/0000
- Data as of
- 12/2022
- EIN
- 85-6120669
Organization Overview
Leaco Rural Telephone Education Foundation is located in Hobbs, NM. The organization was established in 0000. According to its NTEE Classification (B11) the organization is classified as: Single Organization Support, under the broad grouping of Education and related organizations. Leaco Rural 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 12/2022, Leaco Rural Telephone Education Foundation generated $803.0 in total revenue. All expenses for the organization totaled $1.8k during the year ending 12/2022.
Form
990PF
Mission & Program ActivityExcerpts From the 990PF Filing
TAX YEAR
2022
Describe the Organization's Program Activity:
Part 3 - Line 4a
COLLEGE SCHOLARSHIPS TO ACTIVE MEMBERS OF LEACO RURAL TELEPHONE COOPERATIVE, INC. OR MEMBERS OF THEIR IMMEDIATE FAMILY. IN 2022 2 STUDENTS WERE AWARDED SCHOLARSHIPS IN THE AMOUNT OF $1,000 EACH. $4,000 WAS PAID OUT DURING 2022 WITH $1,000 PAYABLE AT THE END OF THE YEAR.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Robert Garnett President | 1 | $0 | |
Leon Hemann Vice President | 1 | $0 | |
Joel Klein Secretary/treasurer | 1 | $0 | |
Regina Watson Asst Secretary/treas (aug/22 - Pres.) | 1 | $0 | |
Luann Pearce Past President (jan/22 - Aug/22) | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $800 |
| Interest on Savings | $3 |
| 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 | $803 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $0 |
| Other employee salaries and wages | $0 |
| Pension plans, employee benefits | $0 |
| Interest | $0 |
| Taxes | $0 |
| Depreciation | $0 |
| Occupancy | $0 |
| Travel, conferences, and meetings | $0 |
| Printing and publications | $0 |
| Other expenses | $0 |
| Total operating and administrative expenses | $800 |
| Contributions, gifts, grants paid | $1,000 |
| Total expenses and disbursements | $1,800 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $7,488 |
| 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 | $7,488 |
| Accounts payable and accrued expenses | $0 |
| Grants payable | $1,000 |
| 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 | $1,000 |
Grants Awarded
Over the last fiscal year, Leaco Rural Telephone Education Foundation has awarded $4,000 in support to 6 organizations.
| Grant Recipient | Amount |
|---|---|
CARTER DIAMOND PURPOSE: SCHOLARSHIP | $500 |
JONATHON SALGADO PURPOSE: SCHOLARSHIP | $500 |
JORDAN BARTLETT PURPOSE: SCHOLARSHIP | $500 |
MADISON BLEYENBERG PURPOSE: SCHOLARSHIP | $500 |
MARIAH GRIMM PURPOSE: SCHOLARSHIP | $1,000 |
ZACHARY HUFFAN PURPOSE: SCHOLARSHIP | $1,000 |