Chelsea Fund For Education Inc
- Assets
- $2.1m
- Revenue
- $619.6k
- Investments
- $0.0
- Employees
- 0
- Location
- New York, NY
- Founding
- 03/1990
- Data as of
- 12/2022
- EIN
- 13-3547520
Organization Overview
Chelsea Fund For Education Inc is located in New York, NY. The organization was established in 1990. According to its NTEE Classification (A99) the organization is classified as: Arts, Culture & Humanities N.E.C., under the broad grouping of Arts, Culture & Humanities and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Chelsea Fund For Education Inc 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, Chelsea Fund For Education Inc generated $619.6k in total revenue. This organization has experienced exceptional growth, as over the past 8 years, it has increased revenue by an average of 18.9% each year . All expenses for the organization totaled $71.1k 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
THE CHELSEA FUND/PEOPLE BEFORE PROFITS EDUCATION FUND EXISTS TO ENCOURAGE AND SUPPORT EDUCATIONAL AND CULTURAL ACTIVITIES THAT PROMOTE PEACE, DEMOCRACY AND WORKERS' RIGHTS. WE AIM TO PARTNER WITH EXISTING COMMUNITY ORGANIZATIONS AND COALITIONS TO DEVELOP ORIGINAL PROGRAMMING THAT FOSTERS A DEEPER UNDERSTANDING OF SOCIETY TODAY, LEADERSHIP SKILLS, NEW INTERPERSONAL RELATIONSHIPS, AND STRONGER, MORE FOCUSED ORGANIZATIONS.
Describe the Organization's Program Activity:
Part 3 - Line 4a
SCHOOL PROJECT THE LITTLE RED SCHOOL HOUSE IN NYC - 10-DAY IN-PERSON MARXIST SCHOOL FOR ABOUT 40 YOUNG PEOPLE, TITLED FROM JULY 22-31 2022 MARXIST SCHOOL IN MINNESOTA - CLASSES FEATURED A BASIC INTRODUCTION TO MARXIST POLITICS AND IDEOLOGY FOR 20 PARTICIPANTS DEC 9-11 2022
SPEAKERS BUREAU- THE SPEAKERS' BUREAU ENLISTS VOLUNTEERS WITH ACADEMIC OR REAL LIFE EXPERTISE ON A RANGE OF SUBJECTS APPLICABLE TO THE FUND'S MISSION STATEMENT. THE FUND SUPPLIES SPEAKERS FOR ITS FORUMS, CLASSES AND OTHER NON-PARTISAN EVENTS FOR EVENTS SMALL AND LARGE ACROSS THE COUNTRY.
THE WORKING-CLASS USA PROJECT HAS THE GOAL OF ENGAGING HUNDREDS OF PARTICIPANTS IN THE PROMOTION OF A MARXIST UNDERSTANDING OF THE WORKING- CLASS AS A MAJOR ENTITY WITHIN CAPITALIST SOCIETY AND THE ROLE OF THE WORKING-CLASS IN THE FIGHT FOR SOCIAL CHANGE. THE PROJECT HOSTED A NUMBER OF EDUCATIONAL FORA AND SEMINARS ON DEMOCRACY AND CLASS ISSUES.
LITERATURE PROJECT-CHELSEA FUND IS DEVELOPING A PROGRAM TO HELP AUTHORS PRODUCE BOOKS AND OTHER WRITTEN MEDIA.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Flavio Casoy President/tr | OfficerTrustee | 1 | $0 |
Roberta Wood Vice Pres/se | OfficerTrustee | 1 | $0 |
Norman Markowitz Director | Trustee | $0 | |
Adam Tenney Director | Trustee | $0 | |
Libero Della Piana Director | Trustee | $0 | |
Sara Ladino Cano Director | Trustee | $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 | $507,180 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $507,180 |
| Total Program Service Revenue | $1,885 |
| Investment income | $59,909 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $50,659 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $619,633 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| 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 | $12,597 |
| Fees for services: Legal | $2,615 |
| Fees for services: Accounting | $4,950 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $256 |
| Fees for services: Other | $1,410 |
| Advertising and promotion | $150 |
| Office expenses | $6,241 |
| Information technology | $235 |
| Royalties | $0 |
| Occupancy | $12,000 |
| Travel | $4,652 |
| 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 | $71,070 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $88,763 |
| Savings and temporary cash investments | $6,523 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $0 |
| 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 | $8,318 |
| Net Land, buildings, and equipment | $0 |
| Investments—publicly traded securities | $1,950,831 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $2,054,435 |
| Accounts payable and accrued expenses | $0 |
| Grants payable | $0 |
| 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 | $0 |
| Net assets without donor restrictions | $2,054,435 |
| 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 | $2,054,435 |
Grants Awarded
Over the last fiscal year, Chelsea Fund For Education Inc has awarded $52,000 in support to 2 organizations.
| Grant Recipient | Amount |
|---|---|
WORKERS EDUCATION SOCIETY PURPOSE: FURTHER EXEMPT ACTIV | $40,000 |
ST LOUIS WORKERS EDUCATION SOC PURPOSE: FURTHER EXEMPT ACTIV | $12,000 |