Educapital Foundation
- Assets
- $22.0k
- Revenue
- $0.0
- Investments
- $0.0
- Employees
- 0
- Location
- Carteret, NJ
- Founding
- Data as of
- 12/2022
- EIN
- 88-0914133
Organization Overview
Educapital Foundation is located in Carteret, NJ. 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. Educapital Foundation is a 501(c)(3) and as such, is described as a "Charitable or Religous organization or a private foundation" by the IRS.
Form
990EZ
Mission & Program ActivityExcerpts From the 990EZ Filing
TAX YEAR
2022
Describe the Organization's Program Activity:
Part 3
PERFORMANCE BASED SCHOLARSHIPS ARE DESIGNED TO HELP STUDENTS OVERCOME SOME OF THE FINANCIAL OBSTACLES THEY FACE IN THE POST-SECONDARY EDUCATION SYSTEM. THESE SCHOLARSHIPS AIM TO HELP REDUCE THE FINANCIAL BURDENS ON LOW-INCOME STUDENTS WHILE PROVIDING INCENTIVES FOR GOOD ACADEMIC PROGRESS. STUDENTS ARE GENERALLY PAID AT MULTIPLE POINTS DURING THE SEMESTER CONDITIONAL UPON MEETING CERTAIN PERFORMANCE BENCHMARKS SET BY THE COLLEGE OR EDUCATIONAL INSTITUTION. SCHOLARSHIPS ARE PAID DIRECTLY TO STUDENTS BY THE COLLEGE, EDUCATIONAL INSTITUTION, OR SCHOLARSHIP SPONSOR. STUDENTS HAVE DISCRETION OVER HOW THEY USE THE FUNDS, ALTHOUGH MOST REPORT USING THEM TO HELP WITH A RANGE OF ESSENTIAL EXPENSES SUCH AS BOOKS, CHILD CARE, OR OTHER FINANCIAL OBLIGATIONS THAT MIGHT DISRUPT THEIR STUDIES.
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PDF Copies of 990 Filings
Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Aisha Rodriguez Executive Director | 20 | $0 | |
Dr Brenita Mitchell Co-Chair | 1 | $0 | |
Dr Rick Murphee Co-Chair | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Total Revenue from Contributions, Gifts, Grants & Similar | $0 |
| Total Program Service Revenue | $107,494 |
| Membership dues | $0 |
| Investment income | $0 |
| Gain or Loss | $0 |
| Net Income from Gaming & Fundraising | $0 |
| Other Revenue | $0 |
| Total Revenue | $107,494 |
| Statement of Expenses | |
|---|---|
| Grants and similar amounts paid | $0 |
| Benefits paid to or for members | $0 |
| Salaries, other compensation, and employee benefits | $0 |
| Professional fees and other payments to independent contractors | $49,491 |
| Occupancy, rent, utilities, and maintenance | $4,587 |
| Printing, publications, postage, and shipping | $730 |
| Other expenses | $30,667 |
| Total expenses | $85,475 |
| Balance Sheet | |
|---|---|
| Cash, savings, and investments | $20,387 |
| Other assets | $0 |
| Total assets | $22,019 |
| Total liabilities | $0 |
| Net assets or fund balances | $22,019 |