Arctic Education Foundation
- Assets
- $30.4m
- Revenue
- $2.1m
- Investments
- $27.2m
- Employees
- 0
- Location
- Anchorage, AK
- Founding
- 01/1979
- Data as of
- 12/2022
- EIN
- 92-0068447
Organization Overview
Arctic Education Foundation is located in Anchorage, AK. The organization was established in 1979. 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. Arctic 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, Arctic Education Foundation generated $2.1m in total revenue. This represents a relatively dramatic decline in revenue. Over the past 4 years, the organization has seen revenues fall by an average of (8.6%) each year. All expenses for the organization totaled $3.5m during the year ending 12/2022. As we would expect to see with falling revenues, expenses have declined by (4.4%) per year over the past 4 years. You can explore the organizations financials more deeply in the financial statements section below.
Since 2019, Arctic Education Foundation has awarded 2,501 individual grants totaling $11,691,258. 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
2022
Describe the Organization's Program Activity:
Part 3 - Line 4a
IN 2022, THE FOUNDATION ESTABLISHED A CULTURAL EDUCATION PROGRAM TO EDUCATE YOUTH ABOUT THE INUPIAT HISTORY, CULTURE AND SUBSISTENCE HUNTING. EVENTS INCLUDED A CULTURAL EDUCATION CAMP, AS WELL AS TRADITIONAL PLANT AND ART WORKSHOPS. THESE EVENTS WERE FUNDED IN PART BY GRANTS AWARDED BY THE ARCTIC SLOPE COMMUNITY FOUNDATION (ASCF) AND THE ALASKA COMMUNITY FOUNDATION (ACF).
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Avaiyak Burnell Director | 1 | $0 | |
Thomas Napageak Jr Chair (thru 06/2022) | 1 | $0 | |
Julius Rexford Director (thru 06/2022) | 1 | $0 | |
Glen Solomon Treasurer/secretary | 1 | $0 | |
Lillian Stone Director | 1 | $0 | |
John Hopson Jr Director (as Of 06/2022) | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $658,340 |
| Interest on Savings | $13,083 |
| Dividends & Interest | $680,320 |
| Net Rental Income | $0 |
| Net Gain on Sale of Assets | $764,753 |
| Capital Gain Net Income | $764,753 |
| Net ST Capital Gain | $0 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $12,204 |
| Other Income | $0 |
| Total Revenue | $2,128,700 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $173,923 |
| Other employee salaries and wages | $308,878 |
| Pension plans, employee benefits | $0 |
| Interest | $0 |
| Taxes | $90,635 |
| Depreciation | $1,500 |
| Occupancy | $0 |
| Travel, conferences, and meetings | $39,319 |
| Printing and publications | $0 |
| Other expenses | $276,541 |
| Total operating and administrative expenses | $1,048,885 |
| Contributions, gifts, grants paid | $2,430,867 |
| Total expenses and disbursements | $3,479,752 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $1,141,624 |
| Savings and temporary cash investments | $964,745 |
| Net Accounts receivable | $125,246 |
| 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 | $29,150 |
| Net Investments - land, buildings, equipment | $0 |
| Investments—mortgage loans | $0 |
| Investments—other | $0 |
| Net Land, buildings, and equipment | $0 |
| Other assets | $1,002,250 |
| Total assets | $30,438,956 |
| Accounts payable and accrued expenses | $0 |
| Grants payable | $163,863 |
| Deferred revenue | $33,500 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Mortgages and other notes payable | $0 |
| Other liabilities | $297,967 |
| Total liabilities | $495,330 |
Grants Awarded
Over the last fiscal year, Arctic Education Foundation has awarded $2,430,867 in support to 374 organizations.
| Grant Recipient | Amount |
|---|---|
AARON KIPPOGAN TOOYAK PURPOSE: SCHOLARSHIP | $15,345 |
ABBEY SALMON PURPOSE: SCHOLARSHIP | $13,500 |
ABRA ANN PATKOTAK PURPOSE: SCHOLARSHIP | $6,750 |
ABRA PATKOTAK PURPOSE: SCHOLARSHIP | $2,033 |
ABRAHAM KIPPI PURPOSE: SCHOLARSHIP | $4,500 |
ABRAM V TOOYAK PURPOSE: SCHOLARSHIP | $649 |